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    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-458": {
   "value": "-1061000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-459": {
   "value": "-2164000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-460": {
   "value": "515000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-461": {
   "value": "-47000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-462": {
   "value": "-41000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-463": {
   "value": "-58000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:EffectOfExchangeRateChangesOnCashAndCashEquivalents",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-464": {
   "value": "3475000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-465": {
   "value": "3580000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2024-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-466": {
   "value": "3949000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2026-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-467": {
   "value": "3475000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "ifrs-full:CashAndCashEquivalents",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-5": {
   "value": "197000000.0",
   "decimals": 4,
   "dimensions": {
    "concept": "lseg:MovementsRelocatedBetweenOtherAssetsAndOtherLiabilities",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-6": {
   "value": "12000000.0",
   "decimals": 4,
   "dimensions": {
    "concept": "lseg:ReclassifiedFromOtherLiabiltities",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-7": {
   "value": "851000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "lseg:NetIncreaseDecreaseInBorrowingsWithShortTermMaturitiesClassifiedAsFinancingActivities",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-4": {
   "value": "192000000.0",
   "decimals": -6,
   "dimensions": {
    "concept": "lseg:NetDecreaseInBorrowingsWithShorttermMaturitiesIncludedInRepaymentsOfBorrowingsAndSettlementOfDerivativeFinancialInstruments",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
    "unit": "iso4217:GBP"
   }
  },
  "fact-520": {
   "value": "These consolidated<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatements have<span class=\"_ _0\"></span> been prepared f<span class=\"_ _0\"></span>or London Stock<span class=\"_ _0\"></span> E<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span>change Group plc (the \u201cCompany\u201d) and it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> subsidiaries (the \u201cGroup\u201d).<span class=\"_ _314\"> </span>The Group is<span class=\"_ _0\"></span> a diversif<span class=\"_ _2\"></span>ied global financial marke<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span>fr<span class=\"_ _2\"></span>astruc<span class=\"_ _2\"></span>ture<span class=\"_ _0\"></span> and data business. The Company is<span class=\"_ _0\"></span> a public company<span class=\"_ _0\"></span>, inc<span class=\"_ _0\"></span>orpor<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ed and domiciled<span class=\"_ _314\"> </span>in En<span class=\"_ _2\"></span>glan<span class=\"_ _2\"></span>d and Wal<span class=\"_ _2\"></span>es. T<span class=\"_ _2\"></span>he add<span class=\"_ _2\"></span>ress of i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s regi<span class=\"_ _2\"></span>stere<span class=\"_ _2\"></span>d of<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ice is 1<span class=\"_ _2\"></span>0 Pate<span class=\"_ _2\"></span>rnos<span class=\"_ _2\"></span>ter S<span class=\"_ _2\"></span>quare<span class=\"_ _2\"></span>, Londo<span class=\"_ _2\"></span>n, EC4<span class=\"_ _2\"></span>M 7L<span class=\"_ _2\"></span>S.<span class=\"_ _314\"> </span>Repor<span class=\"_ _2\"></span>ting entit<span class=\"_ _2\"></span>y",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-8": {
   "value": "London Stock Exchange Group plc",
   "dimensions": {
    "concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-468": {
   "value": "London Stock Exchange Group plc",
   "dimensions": {
    "concept": "ifrs-full:NameOfParentEntity",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-470": {
   "value": "London Stock Exchange Group plc",
   "dimensions": {
    "concept": "ifrs-full:NameOfUltimateParentOfGroup",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-9": {
   "value": "public company",
   "dimensions": {
    "concept": "ifrs-full:LegalFormOfEntity",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-10": {
   "value": "England and Wales",
   "dimensions": {
    "concept": "ifrs-full:CountryOfIncorporation",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-469": {
   "value": "England and Wales",
   "dimensions": {
    "concept": "ifrs-full:DomicileOfEntity",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-11": {
   "value": "10 Paternoster Square, London, EC4M 7LS",
   "dimensions": {
    "concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-471": {
   "value": "This s<span class=\"_ _2\"></span>ect<span class=\"_ _2\"></span>ion desc<span class=\"_ _2\"></span>ribe<span class=\"_ _2\"></span>s our ma<span class=\"_ _2\"></span>terial a<span class=\"_ _2\"></span>ccount<span class=\"_ _2\"></span>ing p<span class=\"_ _2\"></span>olic<span class=\"_ _2\"></span>y infor<span class=\"_ _2\"></span>mat<span class=\"_ _2\"></span>ion and si<span class=\"_ _2\"></span>gnif<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>nt accou<span class=\"_ _2\"></span>ntin<span class=\"_ _2\"></span>g judge<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s and est<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>tes tha<span class=\"_ _2\"></span>t relate to<span class=\"_ _2\"></span> th<span class=\"_ _2\"></span>e fin<span class=\"_ _2\"></span>anci<span class=\"_ _2\"></span>al state<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s as a whol<span class=\"_ _2\"></span>e. Wher<span class=\"_ _2\"></span>e an accou<span class=\"_ _2\"></span>ntin<span class=\"_ _2\"></span>g poli<span class=\"_ _2\"></span>cy or a sign<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>icant a<span class=\"_ _2\"></span>ccount<span class=\"_ _2\"></span>ing ju<span class=\"_ _2\"></span>dgeme<span class=\"_ _2\"></span>nt or est<span class=\"_ _2\"></span>imate i<span class=\"_ _2\"></span>s appl<span class=\"_ _2\"></span>icabl<span class=\"_ _2\"></span>e to a spec<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ic note to t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>inanc<span class=\"_ _2\"></span>ial sta<span class=\"_ _2\"></span>tement<span class=\"_ _2\"></span>s, i<span class=\"_ _2\"></span>t is disc<span class=\"_ _2\"></span>losed i<span class=\"_ _2\"></span>n that n<span class=\"_ _2\"></span>ote. These p<span class=\"_ _2\"></span>olic<span class=\"_ _2\"></span>ies hav<span class=\"_ _2\"></span>e been c<span class=\"_ _2\"></span>onsis<span class=\"_ _2\"></span>tentl<span class=\"_ _2\"></span>y appl<span class=\"_ _2\"></span>ied to all t<span class=\"_ _2\"></span>he per<span class=\"_ _2\"></span>iods p<span class=\"_ _2\"></span>resented<span class=\"_ _2\"></span>, unles<span class=\"_ _2\"></span>s ot<span class=\"_ _2\"></span>her<span class=\"_ _2\"></span>wise sta<span class=\"_ _2\"></span>ted. We ha<span class=\"_ _2\"></span>ve also d<span class=\"_ _2\"></span>etail<span class=\"_ _2\"></span>ed belo<span class=\"_ _2\"></span>w the new a<span class=\"_ _2\"></span>ccount<span class=\"_ _2\"></span>ing pro<span class=\"_ _2\"></span>nounce<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t we will a<span class=\"_ _2\"></span>dopt i<span class=\"_ _2\"></span>n futu<span class=\"_ _2\"></span>re year<span class=\"_ _2\"></span>s and ho<span class=\"_ _2\"></span>w we hav<span class=\"_ _2\"></span>e assessed the impact of climate change<span class=\"_ _0\"></span> on our financi<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> statements<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>1.1<span class=\"_ _0\"></span> Compliance with International Financial<span class=\"_ _0\"></span> Repor<span class=\"_ _2\"></span>ting Standards (IFRS)<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s consolidated<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatements have<span class=\"_ _0\"></span> been properly prepared in<span class=\"_ _0\"></span> accordance with United Kingdom adopted international accounting standards.<span class=\"_ _314\"> </span>1.<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span> Basis of preparation<span class=\"_ _314\"> </span>The financial statement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are prepared<span class=\"_ _0\"></span> under the historical cost basis ex<span class=\"_ _0\"></span>cept for<span class=\"_ _0\"></span> cer<span class=\"_ _2\"></span>tain clearing member<span class=\"_ _0\"></span> balances, derivati<span class=\"_ _2\"></span>ve financial inst<span class=\"_ _2\"></span>ruments, debt and equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and contingent cons<span class=\"_ _0\"></span>ideration, which are<span class=\"_ _0\"></span> measured a<span class=\"_ _0\"></span>t fair value<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Go<span class=\"_ _2\"></span>ing conce<span class=\"_ _2\"></span>rn<span class=\"_ _314\"> </span>The financial statement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> have been prepar<span class=\"_ _0\"></span>ed on a going concer<span class=\"_ _2\"></span>n basis.<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s business activ<span class=\"_ _2\"></span>ities (together with the factor<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> likely to af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t i<span class=\"_ _2\"></span>ts f<span class=\"_ _2\"></span>utu<span class=\"_ _2\"></span>re devel<span class=\"_ _2\"></span>opm<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>, per<span class=\"_ _2\"></span>fo<span class=\"_ _2\"></span>rman<span class=\"_ _2\"></span>ce and p<span class=\"_ _2\"></span>osit<span class=\"_ _2\"></span>ion)<span class=\"_ _2\"></span>, it<span class=\"_ _2\"></span>s object<span class=\"_ _2\"></span>ives, policies in<span class=\"_ _0\"></span> managing risk and its capital are set<span class=\"_ _0\"></span> out in t<span class=\"_ _2\"></span>he St<span class=\"_ _2\"></span>rate<span class=\"_ _2\"></span>gic Rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t on pa<span class=\"_ _2\"></span>ges 1 to 5<span class=\"_ _2\"></span>6. In a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">the Group\u2019<span class=\"_ _0\"></span>s borrowing facilities and respective repayment </span>dates, and the<span class=\"_ _0\"></span> net debt position of the Group<span class=\"_ _0\"></span>, are included in no<span class=\"_ _2\"></span>te 16; a<span class=\"_ _2\"></span>nd <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">the financial risk management objecti<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> and policies of </span>th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p, toge<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r wit<span class=\"_ _2\"></span>h it<span class=\"_ _2\"></span>s exp<span class=\"_ _2\"></span>osure t<span class=\"_ _2\"></span>o capi<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>l, cred<span class=\"_ _2\"></span>it an<span class=\"_ _2\"></span>d concentration, countr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, liquidit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, se<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>tlement, cus<span class=\"_ _2\"></span>todial<span class=\"_ _0\"></span> and market risk<span class=\"_ _2\"></span>, are d<span class=\"_ _2\"></span>iscu<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>d in note 1<span class=\"_ _2\"></span>7<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>5.<span class=\"_ _314\"> </span>Business planning process<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s for<span class=\"_ _0\"></span>ecas<span class=\"_ _2\"></span>ting and planning<span class=\"_ _0\"></span> process includes the Group\u2019<span class=\"_ _0\"></span>s three-<span class=\"_ _2\"></span>year<span class=\"_ _0\"></span> business plan. The business plan<span class=\"_ _0\"></span> makes certain assumptions about the per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> of the core<span class=\"_ _0\"></span> revenue streams and segments, the use of existing product lines and the tak<span class=\"_ _0\"></span>e up of new<span class=\"_ _0\"></span> produc<span class=\"_ _2\"></span>t li<span class=\"_ _0\"></span>nes. It also makes<span class=\"_ _0\"></span> assumption<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on appropriate levels of<span class=\"_ _0\"></span> investm<span class=\"_ _2\"></span>ent<span class=\"_ _0\"></span> to suppor<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted performance, known inorganic activ<span class=\"_ _2\"></span>ity,<span class=\"_ _0\"></span> the abilit<span class=\"_ _2\"></span>y to<span class=\"_ _0\"></span> refinance debt as r<span class=\"_ _0\"></span>equired and expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed returns to<span class=\"_ _0\"></span> shareholders.<span class=\"_ _314\"> </span>Performance management<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s performance is analysed monthly by management. Monthl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> result<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are reviewed<span class=\"_ _0\"></span> and compared against the business pla<span class=\"_ _2\"></span>n, an<span class=\"_ _2\"></span>d prev<span class=\"_ _2\"></span>ious a<span class=\"_ _2\"></span>nd up<span class=\"_ _2\"></span>dated f<span class=\"_ _2\"></span>ull<span class=\"_ _2\"></span>-ye<span class=\"_ _2\"></span>ar fore<span class=\"_ _2\"></span>cas<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>re als<span class=\"_ _2\"></span>o assessed. Key<span class=\"_ _0\"></span> variances and associated drivers are<span class=\"_ _0\"></span> reviewed and re<span class=\"_ _0\"></span>por<span class=\"_ _2\"></span>ted upon.<span class=\"_ _314\"> </span>Cash flows and liq<span class=\"_ _0\"></span>uidit<span class=\"_ _2\"></span>y h<span class=\"_ _0\"></span>eadroom<span class=\"_ _314\"> </span>When per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>orming our going concern<span class=\"_ _0\"></span> asses<span class=\"_ _2\"></span>sment, the main<span class=\"_ _0\"></span> fac<span class=\"_ _2\"></span>tors con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>red are fo<span class=\"_ _2\"></span>reca<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s cash f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>w and li<span class=\"_ _2\"></span>quid<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y headroom (de<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>ined as<span class=\"_ _0\"></span> undrawn commit<span class=\"_ _2\"></span>ted facilities less issued commercial<span class=\"_ _0\"></span> paper plus available cash),<span class=\"_ _0\"></span> bot<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> of which are<span class=\"_ _0\"></span> out<span class=\"_ _2\"></span>puts of the business plan.<span class=\"_ _0\"></span> The business plan is stress-tested using severe<span class=\"_ _0\"></span> but plausible downside scenarios as<span class=\"_ _0\"></span> determined by the Financial Risk Committee over the<span class=\"_ _0\"></span> full three<span class=\"_ _2\"></span>-year plan<span class=\"_ _0\"></span> period. The impact of these stress tests on the per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance of cor<span class=\"_ _0\"></span>e reve<span class=\"_ _2\"></span>nue s<span class=\"_ _2\"></span>trea<span class=\"_ _2\"></span>ms and s<span class=\"_ _2\"></span>egm<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s is mo<span class=\"_ _2\"></span>dell<span class=\"_ _2\"></span>ed, w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h appr<span class=\"_ _2\"></span>opr<span class=\"_ _2\"></span>iate mitigat<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> fac<span class=\"_ _2\"></span>tors also c<span class=\"_ _0\"></span>onsidered. The output<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> this st<span class=\"_ _2\"></span>ress-<span class=\"_ _314\"> </span>tes<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng on t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s cash f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>w and li<span class=\"_ _2\"></span>quid<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y are t<span class=\"_ _2\"></span>hen ev<span class=\"_ _2\"></span>alua<span class=\"_ _2\"></span>ted against thresholds set by<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> risk appetite. These thresholds include liquidity headroom and leverage ratio (operating net debt<span class=\"_ _0\"></span> to adjusted earnings bef<span class=\"_ _0\"></span>ore interest, tax<span class=\"_ _2\"></span>, depreciation, a<span class=\"_ _0\"></span>mor<span class=\"_ _2\"></span>tisation and impairment<span class=\"_ _0\"></span> (EBITDA) and bef<span class=\"_ _0\"></span>ore foreign<span class=\"_ _0\"></span> exchange gains<span class=\"_ _0\"></span> or losses).<span class=\"_ _314\"> </span>The scenarios<span class=\"_ _0\"></span> modelle<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> are included in<span class=\"_ _0\"></span> the viabili<span class=\"_ _2\"></span>ty statement on page<span class=\"_ _0\"></span> 56.<span class=\"_ _314\"> </span>No s<span class=\"_ _2\"></span>cenar<span class=\"_ _2\"></span>io ove<span class=\"_ _2\"></span>r the t<span class=\"_ _2\"></span>hree<span class=\"_ _2\"></span>-y<span class=\"_ _2\"></span>ear pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d lead<span class=\"_ _2\"></span>s to a brea<span class=\"_ _2\"></span>ch in th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s ris<span class=\"_ _2\"></span>k appe<span class=\"_ _2\"></span>tit<span class=\"_ _2\"></span>e thre<span class=\"_ _2\"></span>shol<span class=\"_ _2\"></span>ds or wo<span class=\"_ _2\"></span>uld me<span class=\"_ _2\"></span>an th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p is una<span class=\"_ _2\"></span>ble to m<span class=\"_ _2\"></span>eet i<span class=\"_ _2\"></span>ts ob<span class=\"_ _2\"></span>lig<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>ns as a re<span class=\"_ _2\"></span>sult o<span class=\"_ _2\"></span>f insu<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>cien<span class=\"_ _2\"></span>t liqu<span class=\"_ _2\"></span>idi<span class=\"_ _2\"></span>ty. A reve<span class=\"_ _2\"></span>rse s<span class=\"_ _2\"></span>tre<span class=\"_ _2\"></span>ss tes<span class=\"_ _2\"></span>t has a<span class=\"_ _2\"></span>lso be<span class=\"_ _2\"></span>en com<span class=\"_ _2\"></span>plet<span class=\"_ _2\"></span>ed, to ev<span class=\"_ _2\"></span>alua<span class=\"_ _2\"></span>te the<span class=\"_ _2\"></span> financial impac<span class=\"_ _2\"></span>ts that would br<span class=\"_ _0\"></span>each the Group\u2019<span class=\"_ _0\"></span>s risk appetite thresholds. We<span class=\"_ _0\"></span> concluded that the scenarios r<span class=\"_ _0\"></span>equired to breach<span class=\"_ _0\"></span> the thresholds are<span class=\"_ _0\"></span> all deemed improbable.<span class=\"_ _314\"> </span>Conclusion<span class=\"_ _314\"> </span>The Directors therefore<span class=\"_ _0\"></span> consider there t<span class=\"_ _0\"></span>o be no material<span class=\"_ _0\"></span> uncert<span class=\"_ _2\"></span>ainties that ma<span class=\"_ _0\"></span>y cast signif<span class=\"_ _2\"></span>icant doubt on<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> abilit<span class=\"_ _2\"></span>y to con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>ue to op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>e as a goi<span class=\"_ _2\"></span>ng conc<span class=\"_ _2\"></span>ern<span class=\"_ _2\"></span>. The Di<span class=\"_ _2\"></span>rec<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s have a reas<span class=\"_ _2\"></span>onab<span class=\"_ _2\"></span>le ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>tion t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup ha<span class=\"_ _2\"></span>s ade<span class=\"_ _2\"></span>quate re<span class=\"_ _2\"></span>sourc<span class=\"_ _2\"></span>es to c<span class=\"_ _0\"></span>ontinue in operational<span class=\"_ _0\"></span> existence for<span class=\"_ _0\"></span> 12 months from<span class=\"_ _0\"></span> the date when<span class=\"_ _0\"></span> t<span class=\"_ _2\"></span>hese<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatements are<span class=\"_ _0\"></span> aut<span class=\"_ _2\"></span>horised f<span class=\"_ _0\"></span>or issue. Accor<span class=\"_ _0\"></span>dingly,<span class=\"_ _0\"></span> the going con<span class=\"_ _0\"></span>cern basis h<span class=\"_ _0\"></span>as been adopted<span class=\"_ _0\"></span> in the preparation of these financial statements<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>1.<span class=\"_ _2\"></span>3 Ba<span class=\"_ _2\"></span>sis of con<span class=\"_ _2\"></span>soli<span class=\"_ _2\"></span>datio<span class=\"_ _2\"></span>n<span class=\"_ _314\"> </span>The consolidated<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatements comprise the financial statement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the Company<span class=\"_ _0\"></span>, subs<span class=\"_ _0\"></span>idiaries controlled by<span class=\"_ _0\"></span> the Company and the r<span class=\"_ _0\"></span>esult<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> associates and joint<span class=\"_ _0\"></span> ventures. Sub<span class=\"_ _2\"></span>sidi<span class=\"_ _2\"></span>arie<span class=\"_ _2\"></span>s are con<span class=\"_ _2\"></span>sol<span class=\"_ _2\"></span>idate<span class=\"_ _2\"></span>d from t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te on wh<span class=\"_ _2\"></span>ich con<span class=\"_ _2\"></span>tro<span class=\"_ _2\"></span>l is obt<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>ed by th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up. The<span class=\"_ _2\"></span>y are de<span class=\"_ _2\"></span>conso<span class=\"_ _2\"></span>lida<span class=\"_ _2\"></span>ted fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e date on w<span class=\"_ _2\"></span>hich co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ol ceas<span class=\"_ _2\"></span>es. C<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rol is a<span class=\"_ _2\"></span>chiev<span class=\"_ _2\"></span>ed wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p is ex<span class=\"_ _2\"></span>pos<span class=\"_ _2\"></span>ed, or h<span class=\"_ _2\"></span>as ri<span class=\"_ _2\"></span>ght<span class=\"_ _2\"></span>s, to v<span class=\"_ _2\"></span>aria<span class=\"_ _2\"></span>ble ret<span class=\"_ _2\"></span>urn<span class=\"_ _2\"></span>s from i<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>nvol<span class=\"_ _2\"></span>veme<span class=\"_ _2\"></span>nt with the investee and has the ability to affect those returns through it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> power over the<span class=\"_ _0\"></span> investee. The results of s<span class=\"_ _0\"></span>ubsidiaries are con<span class=\"_ _2\"></span>soli<span class=\"_ _2\"></span>date<span class=\"_ _2\"></span>d for th<span class=\"_ _2\"></span>e peri<span class=\"_ _2\"></span>od to 3<span class=\"_ _2\"></span>1<span class=\"_ gsbf\"> </span>Dece<span class=\"_ _2\"></span>mber, even i<span class=\"_ _2\"></span>f the<span class=\"_ _2\"></span> subsidiar<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> year-end is different.<span class=\"_ _314\"> </span>The principal operating subsidiaries o<span class=\"_ _0\"></span>f the Group are<span class=\"_ _0\"></span> gi<span class=\"_ _2\"></span>ven<span class=\"_ _0\"></span> on the nex<span class=\"_ _2\"></span>t pa<span class=\"_ _2\"></span>ge an<span class=\"_ _2\"></span>d a full l<span class=\"_ _2\"></span>ist o<span class=\"_ _2\"></span>f subs<span class=\"_ _2\"></span>idia<span class=\"_ _2\"></span>ries i<span class=\"_ _2\"></span>s give<span class=\"_ _2\"></span>n in not<span class=\"_ _2\"></span>e 10.1 of t<span class=\"_ _2\"></span>he Company financial statement<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Name<span class=\"_ _12b\"> </span><span class=\"ls12 ws44\">Princip<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> ac<span class=\"_ _2\"></span>tivit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></span>Co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y of incorporation and principal operations<span class=\"_ _314\"> </span>Grou<span class=\"_ _2\"></span>p ultimate economic interest %<span class=\"_ _314\"> </span>Banque Centrale de Compensation (L<span class=\"_ _0\"></span>CH SA)<span class=\"_ _314\"> </span>CCP clearing ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span>France<span class=\"_ _ea\"> </span><span class=\"ls6e ws98\">94.4<span class=\"_ _314\"> </span></span>Financial &amp;<span class=\"_ _0\"></span> Risk Organisation Limited<span class=\"_ _314\"> </span>IP owner<span class=\"_ _110\"> </span>England<span class=\"_ _0\"></span> &amp; Wales<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>Frank Russell <span class=\"ls4 ws3\"> </span>Company<span class=\"_ _314\"> </span>Market indic<span class=\"_ _0\"></span>es provider<span class=\"_ _314\"> </span>Uni<span class=\"_ _2\"></span>ted Sta<span class=\"_ _2\"></span>tes<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>FTS<span class=\"_ _2\"></span>E<span class=\"_ _0\"></span> Inter<span class=\"_ _2\"></span>national Limited<span class=\"_ _314\"> </span>Market indic<span class=\"_ _0\"></span>es provider<span class=\"_ _314\"> </span>England &amp; Wales<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>L<span class=\"_ _0\"></span>CH Limited<span class=\"_ _16f\"> </span>CCP clearing ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span>England &amp; Wales<span class=\"_ _314\"> </span>94.4<span class=\"_ _314\"> </span>London<span class=\"_ _0\"></span> Stock E<span class=\"_ _2\"></span>xchan<span class=\"_ _2\"></span>ge pl<span class=\"_ _2\"></span>c<span class=\"_ _314\"> </span>Recogn<span class=\"_ _0\"></span>ised inves<span class=\"_ _2\"></span>tment exch<span class=\"_ _2\"></span>ange<span class=\"_ _314\"> </span>England &amp; Wales<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>LS<span class=\"_ _2\"></span>EG Fi<span class=\"_ _2\"></span>nan<span class=\"_ _2\"></span>ce plc<span class=\"_ _70\"> </span><span class=\"ls86 wsb3\">Tr<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>u<span class=\"_ _2\"></span>r<span class=\"_ _10\"> </span>y<span class=\"_ _2\"></span> </span>management<span class=\"_ _314\"> </span>England &amp; Wales<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>LSEG Netherlands B.<span class=\"_ _0\"></span>V<span class=\"_ _0\"></span>.<span class=\"_ _102\"> </span><span class=\"ls86 wsb3\">Tr<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>u<span class=\"_ _2\"></span>r<span class=\"_ _10\"> </span>y<span class=\"_ _2\"></span> </span>management<span class=\"_ _314\"> </span>Netherlands<span class=\"_ _22c\"> </span><span class=\"lsee ws55\">100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span></span>LS<span class=\"_ _2\"></span>EG US F<span class=\"_ _2\"></span>in Co<span class=\"_ _2\"></span>rp<span class=\"_ _8\"> </span><span class=\"ls86 wsb3\">Tr<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>u<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>y<span class=\"_ _2\"></span> </span>management<span class=\"_ _314\"> </span>Uni<span class=\"_ _2\"></span>ted Sta<span class=\"_ _2\"></span>tes<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>Refinit<span class=\"_ _2\"></span>iv Germany <span class=\"ls4 ws3\"> </span>GmbH<span class=\"_ _314\"> </span>Market and<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inanci<span class=\"_ _0\"></span>al data provider<span class=\"_ _314\"> </span>Germany<span class=\"_ _131\"> </span><span class=\"lsee ws55\">100.0<span class=\"_ _314\"> </span></span>Refiniti<span class=\"_ _2\"></span>v<span class=\"_ _0\"></span> Japan KK<span class=\"_ _1c2\"> </span>Market and financial data provider<span class=\"_ _314\"> </span>Japan<span class=\"_ _131\"> </span><span class=\"lsee ws55\">100.0<span class=\"_ _314\"> </span></span>Refinit<span class=\"_ _2\"></span>iv Limited<span class=\"_ _78\"> </span><span class=\"ls6c ws7e\">Mar<span class=\"_ _2\"></span>k<span class=\"_ _0\"></span>et and financial </span>data provider<span class=\"_ _314\"> </span>England &amp; Wales<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>Ref<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>iti<span class=\"_ _2\"></span>v US LLC<span class=\"_ _5e\"> </span><span class=\"ls6c ws7e\">Mar<span class=\"_ _2\"></span>k<span class=\"_ _0\"></span>et and financial </span>data provider<span class=\"_ _314\"> </span>Uni<span class=\"_ _2\"></span>ted Sta<span class=\"_ _2\"></span>tes<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>Refinit<span class=\"_ _2\"></span>iv US Organization LL<span class=\"_ _0\"></span>C<span class=\"_ _314\"> </span>IP owner<span class=\"_ _22d\"> </span><span class=\"ls39 ws0\">Uni<span class=\"_ _2\"></span>ted </span>Sta<span class=\"_ _2\"></span>tes<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>radeweb Market<span class=\"_ _2\"></span>s LL<span class=\"_ _0\"></span>C (Group)<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>Multilateral trading facilit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span>Uni<span class=\"_ _2\"></span>ted Sta<span class=\"_ _2\"></span>tes<span class=\"_ _314\"> </span>50.9<span class=\"_ _314\"> </span>1 <span class=\"_ _c\"> </span>Includes the Institutional Cash Distribu<span class=\"_ _2\"></span>tors<span class=\"_ _0\"></span> sub<span class=\"_ _2\"></span>-group.<span class=\"_ _314\"> </span>On an acquis<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>ion-by-<span class=\"_ _2\"></span>acquis<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> basis, the Group elect<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> whether to measur<span class=\"_ _0\"></span>e the non-<span class=\"_ _2\"></span>controlling inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ts in the ac<span class=\"_ _0\"></span>quiree, if any<span class=\"_ _0\"></span>, at<span class=\"_ _0\"></span> fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue or at t<span class=\"_ _2\"></span>he pro<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>iona<span class=\"_ _2\"></span>te share o<span class=\"_ _2\"></span>f the a<span class=\"_ _2\"></span>cquir<span class=\"_ _2\"></span>ee\u2019s iden<span class=\"_ _2\"></span>tif<span class=\"_ _2\"></span>ia<span class=\"_ _2\"></span>ble<span class=\"_ _2\"></span> net assets. Non<span class=\"_ _2\"></span>-controlling interests in the results and equity of subsidiaries are<span class=\"_ _0\"></span> shown separately in the c<span class=\"_ _0\"></span>onsolidated income statement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> consolidated statement of compr<span class=\"_ _0\"></span>ehensive income, consolidated balanc<span class=\"_ _0\"></span>e sheet and c<span class=\"_ _0\"></span>onsolidated statement of cha<span class=\"_ _2\"></span>nges i<span class=\"_ _2\"></span>n equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y (se<span class=\"_ _2\"></span>e note 19<span class=\"_ _2\"></span>).<span class=\"_ _314\"> </span>Intercompany<span class=\"_ _0\"></span> t<span class=\"_ _2\"></span>ransactions and balances between Group companies are<span class=\"_ _0\"></span> eliminated on c<span class=\"_ _0\"></span>onsolidation<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Where necessar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, adjust<span class=\"_ _2\"></span>ments are<span class=\"_ _0\"></span> made to the r<span class=\"_ _0\"></span>esult<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> subsidiaries and associates to bring their<span class=\"_ _0\"></span> accounting policies in line<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th those o<span class=\"_ _0\"></span>f the Group<span class=\"_ _314\"> </span>1.5 Foreign currencies<span class=\"_ _314\"> </span>Functional and presentation currency<span class=\"_ _314\"> </span>The consolidated<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatements are<span class=\"_ _0\"></span> presented in sterling, wh<span class=\"_ _2\"></span>ich is a<span class=\"_ _2\"></span>lso t<span class=\"_ _2\"></span>he fun<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>al cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y of Lon<span class=\"_ _2\"></span>don Sto<span class=\"_ _2\"></span>ck E<span class=\"_ _2\"></span>xchan<span class=\"_ _2\"></span>ge Group plc, the Company<span class=\"_ _0\"></span>. The Group de<span class=\"_ _0\"></span>termines the funct<span class=\"_ _2\"></span>ional currency for each<span class=\"_ _0\"></span> of its subsidiar<span class=\"_ _2\"></span>y entities and items included<span class=\"_ _0\"></span> in the financial statement<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> each entit<span class=\"_ _2\"></span>y are<span class=\"_ _0\"></span> measured using that func<span class=\"_ _2\"></span>tional curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>ransac<span class=\"_ _2\"></span>tions and balanc<span class=\"_ _0\"></span>es in foreign curr<span class=\"_ _0\"></span>encies<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>ansactions in foreign<span class=\"_ _0\"></span> currencies are<span class=\"_ _0\"></span> init<span class=\"_ _2\"></span>ially r<span class=\"_ _0\"></span>ecorded and translated into the functional currency of the rele<span class=\"_ _0\"></span>vant Group ent<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y at t<span class=\"_ _2\"></span>he exch<span class=\"_ _2\"></span>ange r<span class=\"_ _2\"></span>ate ru<span class=\"_ _2\"></span>ling a<span class=\"_ _2\"></span>t the d<span class=\"_ _2\"></span>ate of t<span class=\"_ _2\"></span>he tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>. Monetar<span class=\"_ _2\"></span>y assets and liabilities denominated<span class=\"_ _0\"></span> in foreign<span class=\"_ _0\"></span> currencies are translated int<span class=\"_ _0\"></span>o the respecti<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tional currency of the entity at t<span class=\"_ _2\"></span>he excha<span class=\"_ _2\"></span>nge r<span class=\"_ _2\"></span>ate prev<span class=\"_ _2\"></span>aili<span class=\"_ _2\"></span>ng at t<span class=\"_ _2\"></span>he repo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date.<span class=\"_ _2\"></span> Foreign ex<span class=\"_ _0\"></span>change gains and losses<span class=\"_ _0\"></span> resulting from the settlemen<span class=\"_ _2\"></span>t of su<span class=\"_ _2\"></span>ch forei<span class=\"_ _2\"></span>gn cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns or fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e tra<span class=\"_ _2\"></span>nsla<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of monetar<span class=\"_ _2\"></span>y assets and liabilities denominat<span class=\"_ _0\"></span>ed in foreign<span class=\"_ _0\"></span> currencies are r<span class=\"_ _0\"></span>ecognised in the income statement, either within operat<span class=\"_ _2\"></span>ing expenses or finance income<span class=\"_ _0\"></span> or cost<span class=\"_ _2\"></span>s, depending<span class=\"_ _0\"></span> on the nature of t<span class=\"_ _2\"></span>he ite<span class=\"_ _2\"></span>m or tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>No<span class=\"_ _2\"></span>n-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>eta<span class=\"_ _2\"></span>ry i<span class=\"_ _2\"></span>tem<span class=\"_ _2\"></span>s measu<span class=\"_ _2\"></span>red at h<span class=\"_ _2\"></span>isto<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>al cos<span class=\"_ _2\"></span>t are no<span class=\"_ _2\"></span>t ret<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>slate<span class=\"_ _2\"></span>d. No<span class=\"_ _2\"></span>n-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>eta<span class=\"_ _2\"></span>ry i<span class=\"_ _2\"></span>tem<span class=\"_ _2\"></span>s measu<span class=\"_ _2\"></span>red at f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue t<span class=\"_ _2\"></span>hat are<span class=\"_ _2\"></span> denominated in<span class=\"_ _0\"></span> foreign currencies<span class=\"_ _0\"></span> are retranslated<span class=\"_ _0\"></span> at the exch<span class=\"_ _0\"></span>ange ra<span class=\"_ _2\"></span>te at th<span class=\"_ _2\"></span>e date wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e fair v<span class=\"_ _2\"></span>alu<span class=\"_ _2\"></span>e was de<span class=\"_ _2\"></span>termi<span class=\"_ _2\"></span>ned<span class=\"_ _2\"></span>. Any fo<span class=\"_ _2\"></span>reign<span class=\"_ _2\"></span> exchange<span class=\"_ _0\"></span> gain or loss on<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> liabilities carrie<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> at fair value is re<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>ted a<span class=\"_ _2\"></span>s par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he fa<span class=\"_ _2\"></span>ir val<span class=\"_ _2\"></span>ue gai<span class=\"_ _2\"></span>n or los<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>is mea<span class=\"_ _2\"></span>ns: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3e ws7\">Foreign ex<span class=\"_ _0\"></span>change gains and losses<span class=\"_ _0\"></span> on non-<span class=\"_ _2\"></span>monetar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and </span>liabilities held at fair<span class=\"_ _0\"></span> value through profit or loss are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> (wi<span class=\"_ _2\"></span>thin operating expenses). <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Foreign ex<span class=\"_ _0\"></span>change gains and losses<span class=\"_ _0\"></span> on non-<span class=\"_ _2\"></span>monetar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s </span>classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> at fair value through<span class=\"_ _0\"></span> other comprehensive income are r<span class=\"_ _0\"></span>ecognised in other comprehensive<span class=\"_ _0\"></span> income.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>ranslation of non-sterling entitie<span class=\"_ _0\"></span>s on consolidati<span class=\"_ _0\"></span>on<span class=\"_ _314\"> </span>The results and financial position of all<span class=\"_ _0\"></span> Group entit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> that have a non-s<span class=\"_ _2\"></span>terling<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tional currency are translated<span class=\"_ _0\"></span> into sterling on co<span class=\"_ _2\"></span>nsol<span class=\"_ _2\"></span>idat<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>nto th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s resul<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>s follo<span class=\"_ _2\"></span>ws: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> (including goodw<span class=\"_ _2\"></span>ill, pur<span class=\"_ _0\"></span>chased intangible </span>assets and fair<span class=\"_ _0\"></span> value adjustment<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>) are t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>slate<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e repor<span class=\"_ _2\"></span>ting date<span class=\"_ _0\"></span> exchange rates.  <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Income and e<span class=\"_ _0\"></span>xpenses and other comprehensive inc<span class=\"_ _0\"></span>ome </span>are t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>slate<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e aver<span class=\"_ _2\"></span>age exch<span class=\"_ _2\"></span>ange r<span class=\"_ _2\"></span>ate for e<span class=\"_ _2\"></span>ach mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>. Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>is aver<span class=\"_ _2\"></span>age i<span class=\"_ _2\"></span>s not a rea<span class=\"_ _2\"></span>sona<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>pprox<span class=\"_ _2\"></span>imat<span class=\"_ _2\"></span>ion of t<span class=\"_ _2\"></span>he rate pre<span class=\"_ _0\"></span>vailing on the date<span class=\"_ _0\"></span> of a material<span class=\"_ _0\"></span> trans<span class=\"_ _2\"></span>action, these items are t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>slate<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e rate o<span class=\"_ _2\"></span>n the da<span class=\"_ _2\"></span>te of th<span class=\"_ _2\"></span>e tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">All resulting ex<span class=\"_ _0\"></span>change dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ences are r<span class=\"_ _0\"></span>ecognised in other </span>comprehensive inc<span class=\"_ _0\"></span>ome.<span class=\"_ _314\"> </span>On consolidation, ex<span class=\"_ _0\"></span>change dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ences arising from the translation of<span class=\"_ _0\"></span> net investments in for<span class=\"_ _0\"></span>eign operations, borrowings and other currency instrument<span class=\"_ _2\"></span>s designat<span class=\"_ _0\"></span>ed as hedging instr<span class=\"_ _2\"></span>uments (see not<span class=\"_ _0\"></span>e 17<span class=\"_ _3\"></span>.4) are r<span class=\"_ _0\"></span>ecognised in other comprehensive inc<span class=\"_ _2\"></span>ome. O<span class=\"_ _2\"></span>n disp<span class=\"_ _2\"></span>osa<span class=\"_ _2\"></span>l of a forei<span class=\"_ _2\"></span>gn cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>, the cumulative exchange<span class=\"_ _0\"></span> dif<span class=\"_ _2\"></span>ferenc<span class=\"_ _0\"></span>es previously recognised in<span class=\"_ _0\"></span> other comprehensive inc<span class=\"_ _0\"></span>ome relating to that<span class=\"_ _0\"></span> operat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> are reclassified to th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent as p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t or los<span class=\"_ _2\"></span>s on di<span class=\"_ _2\"></span>spos<span class=\"_ _2\"></span>al.<span class=\"_ _314\"> </span>1 <span class=\"_ _c\"> </span>A<span class=\"_ _2\"></span>ny go<span class=\"_ _2\"></span>od<span class=\"_ _2\"></span>wil<span class=\"_ _2\"></span>l and a<span class=\"_ _2\"></span>ny fa<span class=\"_ _2\"></span>ir va<span class=\"_ _2\"></span>lue a<span class=\"_ _2\"></span>dju<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to t<span class=\"_ _2\"></span>he c<span class=\"_ _2\"></span>arr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s of as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s and<span class=\"_ _2\"></span> liabilities on the<span class=\"_ _0\"></span> acquisition of a f<span class=\"_ _0\"></span>oreign operation are<span class=\"_ _0\"></span> treated as<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and liabilities of t<span class=\"_ _2\"></span>he for<span class=\"_ _2\"></span>eig<span class=\"_ _2\"></span>n ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>nd t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sla<span class=\"_ _2\"></span>ted at t<span class=\"_ _2\"></span>he re<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ing d<span class=\"_ _2\"></span>ate ex<span class=\"_ _2\"></span>chan<span class=\"_ _2\"></span>ge r<span class=\"_ _2\"></span>ate.<span class=\"_ _314\"> </span>1.6 New and amended standards and interpretations<span class=\"_ _314\"> </span>Standards, interpretations<span class=\"_ _0\"></span> and amendments to published st<span class=\"_ _2\"></span>andar<span class=\"_ _2\"></span>ds ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve for th<span class=\"_ _2\"></span>e year end<span class=\"_ _2\"></span>ed <span>31 D<span class=\"_ _2\"></span>ecemb<span class=\"_ _2\"></span>er 2025<span class=\"_ _314\"> </span></span>Du<span class=\"_ _2\"></span>ring t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>, t<span class=\"_ _2\"></span>he ame<span class=\"_ _2\"></span>ndme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s to IA<span class=\"_ _2\"></span>S 21 <span class=\"ff74\">The Ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>cts o<span class=\"_ _2\"></span>f Chang<span class=\"_ _2\"></span>es </span>in Foreign Exchange Rates<span class=\"_ _0\"></span><span class=\"ff71 ls3 ws3\"> b<span class=\"_ _2\"></span>ecam<span class=\"_ _2\"></span>e ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve. Thi<span class=\"_ _2\"></span>s did n<span class=\"_ _2\"></span>ot have </span>a material<span class=\"_ _0\"></span> impac<span class=\"_ _2\"></span>t on<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Standards, interpretations<span class=\"_ _0\"></span> and amendments to published standards which are not yet effect<span class=\"_ _2\"></span>ive<span class=\"_ _314\"> </span>Ne<span class=\"_ _2\"></span>w and am<span class=\"_ _2\"></span>ende<span class=\"_ _2\"></span>d st<span class=\"_ _2\"></span>anda<span class=\"_ _2\"></span>rds t<span class=\"_ _2\"></span>hat hav<span class=\"_ _2\"></span>e been i<span class=\"_ _2\"></span>ssu<span class=\"_ _2\"></span>ed, bu<span class=\"_ _2\"></span>t are no<span class=\"_ _2\"></span>t yet ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive, u<span class=\"_ _2\"></span>p to th<span class=\"_ _2\"></span>e date of t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s fi<span class=\"_ _2\"></span>nanc<span class=\"_ _2\"></span>ial s<span class=\"_ _2\"></span>tate<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s are<span class=\"_ _2\"></span> disclosed below<span class=\"_ _0\"></span>. The Group intends<span class=\"_ _0\"></span> to adopt these, if<span class=\"_ _0\"></span> applicabl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>, wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>ey beco<span class=\"_ _2\"></span>me ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive.<span class=\"_ _314\"> </span><table class=\"s w201 h224\" id=\"_bf8b1a1b-4376-45c2-8125-7c05cba123e0\"><tr><td class=\"c n x1eb y2112 w202 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls27 ws43\">International accounting standards and<span class=\"_ _0\"></span> interpretations<span class=\"_ _314\"> </span></div></td><td class=\"c n x40f y2112 w203 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls12 ws44\">Ef<span class=\"_ _2\"></span>fecti<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> date<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x410 h193 y2113 ff71 fs129 fc1 sc0 ls21 ws3\">Am<span class=\"_ _2\"></span>end<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s to I<span class=\"_ _2\"></span>FRS 9 <span class=\"ff74 ls71 ws9e\">Financi<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> Inst<span class=\"_ _2\"></span>ruments<span class=\"ff71 ls21 ws3\"> and I<span class=\"_ _2\"></span>FRS</span></span><span class=\"ff74 ls71 ws9e\"><span class=\"ff71 ls21 ws3\"><span class=\"_ _2\"></span> </span></span></td><td class=\"t m0 x411 h193 y2114 ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>26<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x410 h193 y2115 ff71 fs129 fc1 sc0 ls6a ws1\">7 <span class=\"ff74 ls95 ws9e\">Financial Instruments: Disclosures</span><span class=\"ls7b wsb4\"> \u2013<span class=\"_ _0\"></span> Clas<span class=\"_ _2\"></span>sificat<span class=\"_ _2\"></span>ion</span><span class=\"ls7b wsb4\"> </span></td><td></td></tr><tr><td class=\"c x1eb y2117 w204 h226\"><div class=\"t m0 x1e4 h193 y2116 ff71 fs129 fc1 sc0 ls6c ws7e\">and measurement<span class=\"_ _0\"></span> of financial instrument<span class=\"_ _2\"></span>s and<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">contrac<span class=\"_ _2\"></span>ts re<span class=\"_ _0\"></span>ferencing natur<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-dependent elect<span class=\"_ _2\"></span>ricity<span class=\"_ _314\"> </span></div><div class=\"t m0 x412 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c x1eb y2118 w205 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Annual improvements to<span class=\"_ _0\"></span> IFRS</div><div class=\"t m0 x413 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x411 h193 y2119 ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>26<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x410 h193 y211a ff71 fs129 fc1 sc0 ls6a ws3\">IF<span class=\"_ _2\"></span>RS 1<span class=\"_ _2\"></span>8 <span class=\"ff74 ls95 ws9e\">Pr<span class=\"_ _0\"></span>esentation and Disclosure<span class=\"_ _0\"></span> in Financial</span><span class=\"ff74 ls95 ws9e\"> </span></td><td class=\"t m0 x414 h193 y211b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>27<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c x1eb y211e w206 h227\"><div class=\"t m0 x1e4 h1dd y211c ff74 fs129 fc1 sc0 lsa7 wsd3\">Statements</div><div class=\"t m0 x415 h194 y211d ff71 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x410 h193 y211f ff71 fs129 fc1 sc0 ls6a ws3\">IF<span class=\"_ _2\"></span>RS 19 <span class=\"ff74 ls76 ws5\">Subsidiaries without Public<span class=\"_ _0\"></span> Account<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>y:</span><span class=\"ff74 ls76 ws5\"> </span></td><td class=\"c x417 y2121 w207 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls26 ws3\">1 Ja<span class=\"_ _2\"></span>nuar<span class=\"_ _2\"></span>y 2027</div><div class=\"t m0 x416 h199 y2120 ff71 fs12b fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w208 h228\"><div class=\"t m0 x1e4 h1dd y2122 ff74 fs129 fc1 sc0 ls95 wsc2\">Disclosures</div><div class=\"t m0 x418 h194 y2123 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td></tr></table>1 <span class=\"_ _c\"> </span>These amendments are<span class=\"_ _0\"></span> not expected to<span class=\"_ _0\"></span> have a mat<span class=\"_ _0\"></span>erial impact on the Group<span class=\"_ _0\"></span>\u2019s financial statements<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>IFRS<span class=\"_ _0\"></span> 18 replaces IAS 1<span class=\"_ _0\"></span> and sets out significant new r<span class=\"_ _0\"></span>equirements for how<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial statements are presented<span class=\"_ _0\"></span> with par<span class=\"_ _2\"></span>ticular f<span class=\"_ _0\"></span>ocus on: <span class=\"_ _22e\"></span>\u2013 <span class=\"ls8e ws48\">the income<span class=\"_ _0\"></span> statement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> including requirements for<span class=\"_ _0\"></span> mandatory sub<span class=\"_ _2\"></span>-totals<span class=\"_ _0\"></span> to be present<span class=\"_ _0\"></span>ed;</span> <span class=\"_ _22e\"></span>\u2013 <span class=\"ls29 ws47\">aggregation<span class=\"_ _0\"></span> and disaggregation of information, including the<span class=\"_ _0\"></span> introduc<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> overall </span>principles for how<span class=\"_ _0\"></span> information should be aggr<span class=\"_ _0\"></span>egated and disaggregated in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial statements; <span class=\"_ _22e\"></span>\u2013 <span class=\"ls7 ws48\">disclosur<span class=\"_ _0\"></span>es related<span class=\"_ _0\"></span> to management-defined per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> measures (MPMs), which </span>are measur<span class=\"_ _0\"></span>es of financial performance based<span class=\"_ _0\"></span> on a t<span class=\"_ _0\"></span>otal or sub-total required<span class=\"_ _0\"></span> by IF<span class=\"_ _2\"></span>RS w<span class=\"_ _2\"></span>ith a<span class=\"_ _2\"></span>dju<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts m<span class=\"_ _2\"></span>ade (<span class=\"_ _2\"></span>e.g.<span class=\"_ _2\"></span>, adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>ted pr<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>it or l<span class=\"_ _2\"></span>oss<span class=\"_ _2\"></span>). En<span class=\"_ _2\"></span>tit<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>s wil<span class=\"_ _2\"></span>l be re<span class=\"_ _2\"></span>quir<span class=\"_ _2\"></span>ed to<span class=\"_ _2\"></span> disclose MPMs in the<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> statement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> with disclosures, including r<span class=\"_ _0\"></span>econciliations of MPMs to<span class=\"_ _0\"></span> the nearest total<span class=\"_ _0\"></span> or sub-total calculated in<span class=\"_ _0\"></span> accordance with IFRS. <span class=\"_ _166\"> </span>It i<span class=\"_ _2\"></span>s exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he ad<span class=\"_ _2\"></span>opt<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e new s<span class=\"_ _2\"></span>tan<span class=\"_ _2\"></span>dar<span class=\"_ _2\"></span>d wil<span class=\"_ _2\"></span>l imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t the s<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ruc<span class=\"_ _2\"></span>tu<span class=\"_ _2\"></span>re of th<span class=\"_ _2\"></span>e Group\u2019s<span class=\"_ _0\"></span> income and<span class=\"_ _0\"></span> cash flow statements<span class=\"_ _2\"></span>. 3 <span class=\"_ _7\"> </span>N<span class=\"_ _2\"></span>ot ye<span class=\"_ _2\"></span>t end<span class=\"_ _2\"></span>ors<span class=\"_ _2\"></span>ed by t<span class=\"_ _2\"></span>he U<span class=\"_ _2\"></span>K End<span class=\"_ _2\"></span>ors<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nt Bo<span class=\"_ _2\"></span>ard<span class=\"_ _2\"></span>.<div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs116\">  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs117\">IF<span class=\"_ _2\"></span>RS 8 <span class=\"ff74 ls17 ws81\">Ope<span class=\"_ _2\"></span>rating Segment<span class=\"_ _2\"></span>s</span><span class=\"ls6 ws7\"> requir<span class=\"_ _0\"></span>es operating segment<span class=\"_ _2\"></span>s t<span class=\"_ _0\"></span>o be<span class=\"_ _314\"> </span></span><span class=\"ls6 ws7\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs118\">ide<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ied on t<span class=\"_ _2\"></span>he sa<span class=\"_ _2\"></span>me ba<span class=\"_ _2\"></span>sis as i<span class=\"_ _2\"></span>s repor<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d inte<span class=\"_ _2\"></span>rnal<span class=\"_ _2\"></span>ly for t<span class=\"_ _2\"></span>he rev<span class=\"_ _2\"></span>iew<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs119\">of performance and allocation of<span class=\"_ _0\"></span> resources by<span class=\"_ _0\"></span> the \u201cchief<span class=\"_ _0\"></span> operat<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs11a\">de<span class=\"_ _2\"></span>cisio<span class=\"_ _2\"></span>n maker<span class=\"_ _2\"></span>\u201d<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>or the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p, thi<span class=\"_ _2\"></span>s is th<span class=\"_ _2\"></span>e Exec<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ive Co<span class=\"_ _2\"></span>mmi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>tee.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs11b\">The Executive Commit<span class=\"_ _2\"></span>tee uses \u201c<span class=\"_ _0\"></span>adjusted\u201d measures, including<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs11c\">adjusted EBITDA<span class=\"_ _2\"></span>, t<span class=\"_ _0\"></span>o assess the profit<span class=\"_ _2\"></span>ability and per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance of<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs11d\">the operating segment<span class=\"_ _2\"></span>s. These<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> measures ex<span class=\"_ _0\"></span>clude the<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs11e\">impact of income or<span class=\"_ _0\"></span> expenses classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-underly<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> when<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs11f\">they do not<span class=\"_ _0\"></span> arise in the normal course of<span class=\"_ _0\"></span> business and are<span class=\"_ _0\"></span> material<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs120\">in nature<span class=\"_ _0\"></span> or amount. Non<span class=\"_ _2\"></span>-underly<span class=\"_ _2\"></span>ing items<span class=\"_ _0\"></span> include amor<span class=\"_ _2\"></span>tisation of<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs121\">purchased intangible assets, incremental amort<span class=\"_ _2\"></span>isation of<span class=\"_ _0\"></span> any fair<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs122\">val<span class=\"_ _2\"></span>ue ad<span class=\"_ _2\"></span>jus<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s of int<span class=\"_ _2\"></span>angi<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t of<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls23 ws7 gs123\">acquisitions, impairment<span class=\"_ _2\"></span>, and<span class=\"_ _0\"></span> signif<span class=\"_ _2\"></span>icant integration and<span class=\"_ _0\"></span> rest<span class=\"_ _2\"></span>ructuring<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls10 ws20 gs124\">costs<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The defined \u201c<span class=\"_ _0\"></span>adjusted\u201d measures<span class=\"_ _0\"></span> and criteria<span class=\"_ _0\"></span> for classifying<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs125\">income or<span class=\"_ _0\"></span> expenses as non-<span class=\"_ _2\"></span>underlying are included in<span class=\"_ _0\"></span> the<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs126\">Alternati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> Per<span class=\"_ _2\"></span>formanc<span class=\"_ _0\"></span>e Measures section of this report<span class=\"_ _2\"></span>, outside<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs127\">of the financial statements<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div>3.1 T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al inco<span class=\"_ _2\"></span>me  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>Revenu<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span>The m<span class=\"_ _2\"></span>ain so<span class=\"_ _2\"></span>urce of rev<span class=\"_ _2\"></span>enue fo<span class=\"_ _2\"></span>r the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>s fees fo<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices<span class=\"_ _314\"> </span>provided. Re<span class=\"_ _0\"></span>venue is<span class=\"_ _0\"></span> measured based<span class=\"_ _0\"></span> on the consideration<span class=\"_ _314\"> </span>spe<span class=\"_ _2\"></span>cif<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>d in a con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h a cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. Th<span class=\"_ _2\"></span>e follo<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>g are exclu<span class=\"_ _2\"></span>ded<span class=\"_ _314\"> </span>fro<span class=\"_ _2\"></span>m reven<span class=\"_ _2\"></span>ue:<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">V<span class=\"_ _0\"></span>alue added tax and other sales-related taxes<span class=\"_ _314\"> </span></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Cer<span class=\"_ _2\"></span>tain r<span class=\"_ _0\"></span>evenue share<span class=\"_ _0\"></span> arrangem<span class=\"_ _2\"></span>ents (whereby as<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>t of<span class=\"_ _314\"> </span></span>an agreement amounts are<span class=\"_ _0\"></span> due back to<span class=\"_ _0\"></span> the cus<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>omer)<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Cer<span class=\"_ _2\"></span>tain pass-through cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> where the Group act<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> as an agent<span class=\"_ _314\"> </span></span>and h<span class=\"_ _2\"></span>as ar<span class=\"_ _2\"></span>rang<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nts t<span class=\"_ _2\"></span>o recove<span class=\"_ _2\"></span>r spec<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ic cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s from i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>ers w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h no mar<span class=\"_ _2\"></span>k-u<span class=\"_ _2\"></span>p<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>ecognises revenue as<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices are<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formed and<span class=\"_ _0\"></span> as it<span class=\"_ _314\"> </span>sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>es it<span class=\"_ _2\"></span>s ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns to pro<span class=\"_ _2\"></span>vid<span class=\"_ _2\"></span>e a produ<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice to a cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer.<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s re<span class=\"_ _0\"></span>venue accounting policies ar<span class=\"_ _0\"></span>e set out below:<span class=\"_ _314\"> </span>Dat<span class=\"_ _2\"></span>a &amp;<span class=\"_ _314\"> </span>Analy<span class=\"_ _2\"></span>tics<span class=\"_ _314\"> </span>The Data &amp;<span class=\"_ _0\"></span> Analy<span class=\"_ _2\"></span>tic<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> div<span class=\"_ _2\"></span>ision<span class=\"_ _0\"></span> generates rev<span class=\"_ _0\"></span>enue<span class=\"_ _314\"> </span>by providing inf<span class=\"_ _0\"></span>ormatio<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span> and data product<span class=\"_ _2\"></span>s including<span class=\"_ _314\"> </span>real-time pricing data, trade<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting and<span class=\"_ _314\"> </span>reconciliation serv<span class=\"_ _2\"></span>ices.<span class=\"_ _314\"> </span>Data subscription fees<span class=\"_ _0\"></span> <span class=\"ff71 ls6a ws3\">a<span class=\"_ _2\"></span>re reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r the<span class=\"_ _314\"> </span></span>lic<span class=\"_ _2\"></span>ence o<span class=\"_ _2\"></span>r usa<span class=\"_ _2\"></span>ge pe<span class=\"_ _2\"></span>riod i<span class=\"_ _2\"></span>n lin<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>h th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s<span class=\"_ _314\"> </span>obligation to deliver data<span class=\"_ _0\"></span> consistent<span class=\"_ _2\"></span>ly throughout<span class=\"_ _314\"> </span>the licence<span class=\"_ _0\"></span> period. Ser<span class=\"_ _2\"></span>vices are<span class=\"_ _0\"></span> billed on a<span class=\"_ _0\"></span> monthl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>,<span class=\"_ _314\"> </span>quar<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> or annual basis.<span class=\"_ _314\"> </span>Other information services<span class=\"ff71 ls6c ws7e\"> include licences<span class=\"_ _0\"></span> to the<span class=\"_ _314\"> </span></span>ref<span class=\"_ _0\"></span>erence data businesses.<span class=\"_ _0\"></span> Revenue from<span class=\"_ _0\"></span> licences<span class=\"_ _314\"> </span>th<span class=\"_ _2\"></span>at gr<span class=\"_ _2\"></span>ant t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>ght to a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s intel<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>tu<span class=\"_ _2\"></span>al pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y are<span class=\"_ _314\"> </span>rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>ver ti<span class=\"_ _2\"></span>me, co<span class=\"_ _2\"></span>nsis<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t wi<span class=\"_ _2\"></span>th th<span class=\"_ _2\"></span>e pat<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>rn of t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span>ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span> provision and how<span class=\"_ _0\"></span> the per<span class=\"_ _2\"></span>formanc<span class=\"_ _0\"></span>e obligation<span class=\"_ _314\"> </span>is satisf<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> throughout the licence period. R<span class=\"_ _0\"></span>evenues<span class=\"_ _314\"> </span>fro<span class=\"_ _2\"></span>m th<span class=\"_ _2\"></span>e sale o<span class=\"_ _2\"></span>f rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span>-us<span class=\"_ _2\"></span>e lice<span class=\"_ _2\"></span>nces a<span class=\"_ _2\"></span>re reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at<span class=\"_ _314\"> </span>th<span class=\"_ _2\"></span>e poi<span class=\"_ _2\"></span>nt th<span class=\"_ _2\"></span>e lice<span class=\"_ _2\"></span>nce is g<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>ted or s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ce is de<span class=\"_ _2\"></span>live<span class=\"_ _2\"></span>red<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Recover<span class=\"_ _2\"></span>ies<span class=\"ff71 ls89 wsda\"> consist of<span class=\"_ _0\"></span> fees f<span class=\"_ _0\"></span>or content, such<span class=\"_ _0\"></span> as<span class=\"_ _314\"> </span></span>exch<span class=\"_ _2\"></span>ange d<span class=\"_ _2\"></span>ata t<span class=\"_ _2\"></span>hat i<span class=\"_ _2\"></span>s dis<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ibu<span class=\"_ _2\"></span>ted di<span class=\"_ _2\"></span>rec<span class=\"_ _2\"></span>tl<span class=\"_ _2\"></span>y to cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>s,<span class=\"_ _314\"> </span>and communications f<span class=\"_ _0\"></span>ees. Recoveries<span class=\"_ _0\"></span> are generally<span class=\"_ _314\"> </span>rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>ver th<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct te<span class=\"_ _2\"></span>rm.<span class=\"_ _314\"> </span>FTSE Russell <span class=\"ff71 ls6a ws3\">Rev<span class=\"_ _2\"></span>enue i<span class=\"_ _2\"></span>n the F<span class=\"_ _2\"></span>TS<span class=\"_ _2\"></span>E Rus<span class=\"_ _2\"></span>sel<span class=\"_ _2\"></span>l div<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>on is ge<span class=\"_ _2\"></span>ner<span class=\"_ _2\"></span>ated<span class=\"_ _314\"> </span></span>by pr<span class=\"_ _2\"></span>ovi<span class=\"_ _2\"></span>ding a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s to dat<span class=\"_ _2\"></span>a prod<span class=\"_ _2\"></span>uc<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>, suc<span class=\"_ _2\"></span>h as in<span class=\"_ _2\"></span>dexes<span class=\"_ _314\"> </span>and benchmarks.<span class=\"_ _314\"> </span>Index and data<span class=\"_ _0\"></span> benchmark licence f<span class=\"_ _0\"></span>ees<span class=\"ff71 lsa8 wse8\"> are r<span class=\"_ _0\"></span>ecognised<span class=\"_ _314\"> </span></span>ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>icen<span class=\"_ _2\"></span>ce or us<span class=\"_ _2\"></span>age p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d in li<span class=\"_ _2\"></span>ne wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s<span class=\"_ _314\"> </span>obligation to deliver<span class=\"_ _0\"></span> data consistently throughout the<span class=\"_ _314\"> </span>licence<span class=\"_ _0\"></span> period. Ser<span class=\"_ _2\"></span>vices are<span class=\"_ _0\"></span> billed on a<span class=\"_ _0\"></span> mont<span class=\"_ _2\"></span>hly<span class=\"_ _0\"></span>,<span class=\"_ _314\"> </span>quar<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> or annual basis.<span class=\"_ _314\"> </span>Risk<span class=\"_ _314\"> </span>Intelligence<span class=\"_ _314\"> </span>Revenue<span class=\"_ _0\"></span> in the Risk Int<span class=\"_ _0\"></span>elligence division includes<span class=\"_ _314\"> </span>third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y risk<span class=\"_ _0\"></span> screening and due<span class=\"_ _0\"></span> diligence serv<span class=\"_ _2\"></span>ices.<span class=\"_ _314\"> </span>Various<span class=\"_ _0\"></span> <span class=\"ff72 ws7e\">brokerage<span class=\"_ _0\"></span> processing, risk<span class=\"_ _0\"></span> solutions and<span class=\"_ _314\"> </span></span>professional services<span class=\"ff71 lsb0 ws7e\">, which are<span class=\"_ _0\"></span> generally billed in arrears,<span class=\"_ _314\"> </span></span>are re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as reve<span class=\"_ _2\"></span>nue a<span class=\"_ _2\"></span>t the p<span class=\"_ _2\"></span>oin<span class=\"_ _2\"></span>t in ti<span class=\"_ _2\"></span>me wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span>Group meets its obligation t<span class=\"_ _0\"></span>o complete<span class=\"_ _0\"></span> the transac<span class=\"_ _2\"></span>tion<span class=\"_ _314\"> </span>or s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>e. Sub<span class=\"_ _2\"></span>scr<span class=\"_ _2\"></span>ipt<span class=\"_ _2\"></span>ion fee<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t prov<span class=\"_ _2\"></span>ide a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s to th<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span>Group\u2019<span class=\"_ _0\"></span>s risk-screening<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices on<span class=\"_ _0\"></span> a continuous basis<span class=\"_ _314\"> </span>ove<span class=\"_ _2\"></span>r the s<span class=\"_ _2\"></span>ubsc<span class=\"_ _2\"></span>rip<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n per<span class=\"_ _2\"></span>iod<span class=\"_ _2\"></span>, are reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed ov<span class=\"_ _2\"></span>er ti<span class=\"_ _2\"></span>me,<span class=\"_ _314\"> </span>as the Group<span class=\"_ _0\"></span> satis<span class=\"_ _2\"></span>fies the performance obligation.<span class=\"_ _314\"> </span>Markets<span class=\"_ _131\"> </span><span class=\"ff71 ls6a ws3\">R<span class=\"_ _2\"></span>evenu<span class=\"_ _2\"></span>e in th<span class=\"_ _2\"></span>e Mar<span class=\"_ _2\"></span>ket<span class=\"_ _2\"></span>s div<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>on is g<span class=\"_ _2\"></span>ener<span class=\"_ _2\"></span>ated f<span class=\"_ _2\"></span>rom:<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6a ws3\"><span class=\"_ _2\"></span> </span>primar<span class=\"_ _2\"></span>y and<span class=\"_ _0\"></span> secondar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> market services; contract<span class=\"_ _2\"></span>s to<span class=\"_ _314\"> </span><span class=\"_ _0\"></span> develop<span class=\"_ _0\"></span> capit<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> market<span class=\"_ _0\"></span> technology solutions; soft<span class=\"_ _2\"></span>ware<span class=\"_ _314\"> </span> licences;<span class=\"_ _0\"></span> transac<span class=\"_ _2\"></span>tion and c<span class=\"_ _0\"></span>ommission fees; network<span class=\"_ _314\"> </span> connection<span class=\"_ _2\"></span>s;<span class=\"_ _0\"></span> hosting ser<span class=\"_ _2\"></span>vices; and<span class=\"_ _0\"></span> clearing, sett<span class=\"_ _2\"></span>lement<span class=\"_ _314\"> </span> and other post trade services.<span class=\"_ _314\"> </span>We hav<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>d tha<span class=\"_ _2\"></span>t <span class=\"ff72 ls7b ws7e\">primary market initial admission<span class=\"_ _314\"> </span></span><span class=\"ff72 ls7b ws7e\"> </span>and the<span class=\"_ _0\"></span> ongoing listing services<span class=\"ff71\"> repr<span class=\"_ _0\"></span>esent one<span class=\"_ _314\"> </span></span><span class=\"ff71\"> </span>per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance obligation. The Group ther<span class=\"_ _0\"></span>efore<span class=\"_ _314\"> </span> recognises<span class=\"_ _0\"></span> revenue<span class=\"_ _0\"></span> from initial admission<span class=\"_ _0\"></span> and any<span class=\"_ _314\"> </span> subsequent issues o<span class=\"_ _0\"></span>ver the period that the<span class=\"_ _0\"></span> Group<span class=\"_ _314\"> </span> provides the listing serv<span class=\"_ _2\"></span>ic<span class=\"_ _0\"></span>es. All admission fees<span class=\"_ _0\"></span> are<span class=\"_ _314\"> </span> billed to<span class=\"_ _0\"></span> the customer at<span class=\"_ _0\"></span> the time of admissi<span class=\"_ _0\"></span>on to trading<span class=\"_ _314\"> </span> and become<span class=\"_ _0\"></span> payable when inv<span class=\"_ _0\"></span>oiced. Reve<span class=\"_ _0\"></span>nue from<span class=\"_ _314\"> </span> bond admissions<span class=\"_ _0\"></span> is generally rec<span class=\"_ _0\"></span>ognised at the point<span class=\"_ _0\"></span> of<span class=\"_ _314\"> </span> ad<span class=\"_ _2\"></span>miss<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>, as th<span class=\"_ _2\"></span>is ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice is d<span class=\"_ _2\"></span>eli<span class=\"_ _2\"></span>vere<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e est<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>ted pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>ds for l<span class=\"_ _2\"></span>ist<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>g ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices (ov<span class=\"_ _2\"></span>er wh<span class=\"_ _2\"></span>ich<span class=\"_ _314\"> </span> initial admission and<span class=\"_ _0\"></span> subsequent issuance f<span class=\"_ _0\"></span>ees are<span class=\"_ _314\"> </span> spread) are<span class=\"_ _0\"></span> determined with ref<span class=\"_ _0\"></span>erence to<span class=\"_ _0\"></span> historical<span class=\"_ _314\"> </span> ana<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>sis of l<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g dura<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns in re<span class=\"_ _2\"></span>spe<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>f the co<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>nies o<span class=\"_ _2\"></span>n<span class=\"_ _314\"> </span> our mark<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>s. De<span class=\"_ _0\"></span>ferral periods are<span class=\"_ _0\"></span> calculated by gr<span class=\"_ _0\"></span>ouping<span class=\"_ _314\"> </span> contrac<span class=\"_ _2\"></span>ts based on<span class=\"_ _0\"></span> similar performance obligations.<span class=\"_ _314\"> </span>Primary market annual fees, secondary market<span class=\"_ _314\"> </span> membership and subscription fees<span class=\"_ _0\"></span> <span class=\"ff71 ls6c ws7e\">are generally<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6c ws7e\"> </span>invoiced in<span class=\"_ _0\"></span> advance at the beginning of<span class=\"_ _0\"></span> the member<span class=\"_ _2\"></span>ship<span class=\"_ _314\"> </span> or the subscription period.<span class=\"_ _0\"></span> The Group recognises<span class=\"_ _314\"> </span> reve<span class=\"_ _2\"></span>nue o<span class=\"_ _2\"></span>n a st<span class=\"_ _2\"></span>raig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>lin<span class=\"_ _2\"></span>e bas<span class=\"_ _2\"></span>is over t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d to wh<span class=\"_ _2\"></span>ich<span class=\"_ _314\"> </span> th<span class=\"_ _2\"></span>e fee rel<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>, as t<span class=\"_ _2\"></span>his ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t of the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019s<span class=\"_ _314\"> </span> progress<span class=\"_ _0\"></span> towards comple<span class=\"_ _0\"></span>tion of the performance<span class=\"_ _314\"> </span> obligation under the c<span class=\"_ _0\"></span>ontr<span class=\"_ _2\"></span>act.<span class=\"_ _314\"> </span>Reve<span class=\"_ _2\"></span>nue f<span class=\"_ _2\"></span>rom <span class=\"ff72 ls6c ws7e\">secondary market<span class=\"_ _0\"></span> trading and<span class=\"_ _314\"> </span></span><span class=\"ff72 ls6c ws7e\"> </span>associated capital mark<span class=\"_ _0\"></span>et serv<span class=\"_ _2\"></span>ices<span class=\"ff71 ls76 ws5\">,<span class=\"_ _0\"></span> which includes<span class=\"_ _314\"> </span></span><span class=\"ff71 ls76 ws5\"> </span>trading of fixed i<span class=\"_ _0\"></span>ncome, derivatives and f<span class=\"_ _0\"></span>oreign<span class=\"_ _314\"> </span> exch<span class=\"_ _0\"></span>ange, is r<span class=\"_ _0\"></span>ecognised on a<span class=\"_ _0\"></span> per transact<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span> at t<span class=\"_ _2\"></span>he po<span class=\"_ _2\"></span>int t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice i<span class=\"_ _2\"></span>s prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span>Capital markets soft<span class=\"_ _2\"></span>ware licenc<span class=\"_ _0\"></span>e<span class=\"ff71 lsa4 wsd6\"> cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>ts cont<span class=\"_ _2\"></span>ain<span class=\"_ _314\"> </span></span><span class=\"ff71 lsa4 wsd6\"> </span>multiple deliverable<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> including: providing licences;<span class=\"_ _314\"> </span><span class=\"_ _0\"></span> installing sof<span class=\"_ _2\"></span>tware; and<span class=\"_ _0\"></span> ongoing maintenance serv<span class=\"_ _2\"></span>ices.<span class=\"_ _314\"> </span> Th<span class=\"_ _2\"></span>e tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion p<span class=\"_ _2\"></span>rice fo<span class=\"_ _2\"></span>r eac<span class=\"_ _2\"></span>h cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t is a<span class=\"_ _2\"></span>llo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to<span class=\"_ _314\"> </span> these performance obligations based upon<span class=\"_ _0\"></span> the relative<span class=\"_ _314\"> </span> standalone selling pric<span class=\"_ _0\"></span>e. Rev<span class=\"_ _0\"></span>enue is r<span class=\"_ _0\"></span>ecognised based on<span class=\"_ _314\"> </span> the actual ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span> provided during the reporting period<span class=\"_ _314\"> </span> as a p<span class=\"_ _2\"></span>ropo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e tota<span class=\"_ _2\"></span>l ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices to b<span class=\"_ _2\"></span>e prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span> This is<span class=\"_ _0\"></span> determined by<span class=\"_ _0\"></span> measuring the inputs consumed<span class=\"_ _314\"> </span><span class=\"_ _0\"></span> in d<span class=\"_ _2\"></span>eli<span class=\"_ _2\"></span>veri<span class=\"_ _2\"></span>ng th<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice (fo<span class=\"_ _2\"></span>r exam<span class=\"_ _2\"></span>ple m<span class=\"_ _2\"></span>ater<span class=\"_ _2\"></span>ial an<span class=\"_ _2\"></span>d<span class=\"_ _314\"> </span> lab<span class=\"_ _2\"></span>our<span class=\"_ _2\"></span>) rela<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve to th<span class=\"_ _2\"></span>e tota<span class=\"_ _2\"></span>l expe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>ted in<span class=\"_ _2\"></span>put co<span class=\"_ _2\"></span>nsu<span class=\"_ _2\"></span>mpt<span class=\"_ _2\"></span>ion<span class=\"_ _314\"> </span> ove<span class=\"_ _2\"></span>r the co<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>. This b<span class=\"_ _2\"></span>es<span class=\"_ _2\"></span>t ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s the t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sfe<span class=\"_ _2\"></span>r of<span class=\"_ _314\"> </span> economic benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to the customer which<span class=\"_ _0\"></span> generally<span class=\"_ _314\"> </span> occurs as the Group<span class=\"_ _0\"></span> incurs cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on the contract<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Subscription fees<span class=\"ff71 ls6a ws3\"> for acc<span class=\"_ _2\"></span>ess to t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6a ws3\"> </span>el<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tron<span class=\"_ _2\"></span>ic ma<span class=\"_ _2\"></span>rketp<span class=\"_ _2\"></span>lace<span class=\"_ _2\"></span>s are us<span class=\"_ _2\"></span>uall<span class=\"_ _2\"></span>y cha<span class=\"_ _2\"></span>rge<span class=\"_ _2\"></span>d on a f<span class=\"_ _2\"></span>ixed<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> fee b<span class=\"_ _2\"></span>asis<span class=\"_ _2\"></span>. Reve<span class=\"_ _2\"></span>nue is r<span class=\"_ _2\"></span>ecog<span class=\"_ _2\"></span>nis<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r the p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d th<span class=\"_ _2\"></span>at<span class=\"_ _314\"> </span> acc<span class=\"_ _2\"></span>ess is p<span class=\"_ _2\"></span>rov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d to the c<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>r as it re<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span> Group\u2019<span class=\"_ _0\"></span>s satisfac<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> obligations.<span class=\"_ _314\"> </span> T<span class=\"_ _0\"></span>ransaction and commission f<span class=\"_ _0\"></span>ees are earned<span class=\"_ _0\"></span> from<span class=\"_ _314\"> </span> tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns th<span class=\"_ _2\"></span>at are exe<span class=\"_ _2\"></span>cu<span class=\"_ _2\"></span>ted on t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e elec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>roni<span class=\"_ _2\"></span>c<span class=\"_ _314\"> </span> marketplaces. R<span class=\"_ _0\"></span>evenue is r<span class=\"_ _0\"></span>ecognised on the transaction<span class=\"_ _314\"> </span> date which<span class=\"_ _0\"></span> is when per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> obligations are<span class=\"_ _314\"> </span> de<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>d to have b<span class=\"_ _2\"></span>een s<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>sf<span class=\"_ _2\"></span>ied<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Network connect<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> and hosting ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span><span class=\"ff71 ls4 ws76\"> revenue<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span><span class=\"ff71 ls4 ws76\"> </span>are re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d on a s<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t-l<span class=\"_ _2\"></span>ine b<span class=\"_ _2\"></span>asis o<span class=\"_ _2\"></span>ver th<span class=\"_ _2\"></span>e per<span class=\"_ _2\"></span>iod<span class=\"_ _314\"> </span> to wh<span class=\"_ _2\"></span>ich t<span class=\"_ _2\"></span>he fee re<span class=\"_ _2\"></span>late<span class=\"_ _2\"></span>s as th<span class=\"_ _2\"></span>is ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>uous<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> transfer of t<span class=\"_ _0\"></span>echnolog<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices and me<span class=\"_ _0\"></span>asures the<span class=\"_ _314\"> </span> ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t of pro<span class=\"_ _2\"></span>gres<span class=\"_ _2\"></span>s towa<span class=\"_ _2\"></span>rds t<span class=\"_ _2\"></span>he com<span class=\"_ _2\"></span>plet<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f the<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance obligation<span class=\"_ _314\"> </span>Markets<span class=\"ls4 ws3\"> </span>continued<span class=\"_ _314\"> </span>Over-the-<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ounter (OT<span class=\"_ _0\"></span>C) derivatives, and securities clearing and<span class=\"_ _0\"></span> reporting<span class=\"ff71\"> generate fees<span class=\"_ _0\"></span> from: individual </span>transac<span class=\"_ _2\"></span>tions<span class=\"_ _0\"></span> or contract<span class=\"_ _2\"></span>s clear<span class=\"_ _0\"></span>ed and settled; transac<span class=\"_ _2\"></span>tion r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting; risk man<span class=\"_ _0\"></span>agement<span class=\"_ _2\"></span>; and<span class=\"_ _0\"></span> other financial resources<span class=\"_ _0\"></span> management serv<span class=\"_ _2\"></span>ices.<span class=\"_ _0\"></span> These revenues<span class=\"_ _0\"></span> are earned at<span class=\"_ _0\"></span> the point in time<span class=\"_ _0\"></span> when the Group meets its obligations to c<span class=\"_ _0\"></span>omplete the transaction or ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span>. Revenue<span class=\"_ _0\"></span> is recognised<span class=\"_ _0\"></span> and billed monthly in<span class=\"_ _0\"></span> arrears. Cer<span class=\"_ _2\"></span>tain<span class=\"_ _0\"></span> cus<span class=\"_ _2\"></span>tomers<span class=\"_ _0\"></span> have a fixed-fee arrangement wh<span class=\"_ _2\"></span>ich is n<span class=\"_ _2\"></span>ot lin<span class=\"_ _2\"></span>ked to in<span class=\"_ _2\"></span>div<span class=\"_ _2\"></span>id<span class=\"_ _2\"></span>ual t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ons an<span class=\"_ _2\"></span>d thi<span class=\"_ _2\"></span>s reve<span class=\"_ _2\"></span>nue i<span class=\"_ _2\"></span>s recog<span class=\"_ _2\"></span>nis<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r tim<span class=\"_ _2\"></span>e as th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up ful<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ils i<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span> obligations to maintain the availability of the clearing sy<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>em to th<span class=\"_ _2\"></span>at cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer.<span class=\"_ _314\"> </span>Margin management <span class=\"ff71 ls6c ws7e\">generat<span class=\"_ _0\"></span>es fees from<span class=\"_ _0\"></span> providing </span>cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>h acce<span class=\"_ _2\"></span>ss to a re<span class=\"_ _2\"></span>conc<span class=\"_ _2\"></span>ilia<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n pla<span class=\"_ _2\"></span>tfo<span class=\"_ _2\"></span>rm,<span class=\"_ _2\"></span> where count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ties submit trade information<span class=\"_ _0\"></span> for the purpose of rec<span class=\"_ _0\"></span>onciling and agreeing initial margin<span class=\"_ _0\"></span> calls, and to<span class=\"_ _0\"></span> an online<span class=\"_ _0\"></span> messaging application to<span class=\"_ _0\"></span> manage pledges, receive<span class=\"_ _0\"></span> margin messaging<span class=\"_ _0\"></span> and resolve di<span class=\"_ _2\"></span>spu<span class=\"_ _2\"></span>tes. Re<span class=\"_ _2\"></span>venu<span class=\"_ _2\"></span>e is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>t a poin<span class=\"_ _2\"></span>t in t<span class=\"_ _2\"></span>ime w<span class=\"_ _2\"></span>hen th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up mee<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>ts o<span class=\"_ _2\"></span>bli<span class=\"_ _2\"></span>gat<span class=\"_ _2\"></span>ion to d<span class=\"_ _2\"></span>eli<span class=\"_ _2\"></span>ver t<span class=\"_ _2\"></span>he ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice.<span class=\"_ _2\"></span> Some customers hav<span class=\"_ _0\"></span>e a subscription<span class=\"_ _0\"></span> and receive<span class=\"_ _0\"></span> acc<span class=\"_ _2\"></span>ess to t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e plat<span class=\"_ _2\"></span>fo<span class=\"_ _2\"></span>rms ov<span class=\"_ _2\"></span>er a per<span class=\"_ _2\"></span>iod<span class=\"_ _2\"></span>. Fo<span class=\"_ _2\"></span>r the<span class=\"_ _2\"></span>se customers, revenue<span class=\"_ _0\"></span> is recognised<span class=\"_ _0\"></span> over the<span class=\"_ _0\"></span> subscription pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d as it re<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>nuou<span class=\"_ _2\"></span>s tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>fer of se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>e by the Group<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Non-<span class=\"_ _2\"></span>cash collateral<span class=\"_ _0\"></span><span class=\"ff71 ls6c ws7e\"> fees are<span class=\"_ _0\"></span> earned from handling </span>non-<span class=\"_ _2\"></span>cash collat<span class=\"_ _0\"></span>eral balances. The<span class=\"_ _0\"></span> fees are<span class=\"_ _0\"></span> recognised as rev<span class=\"_ _0\"></span>enue over the<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vice period that<span class=\"_ _0\"></span> balances are held, representing<span class=\"_ _0\"></span> the continuous transfer of services during that time.<span class=\"_ _314\"> </span>Fe<span class=\"_ _2\"></span>es rec<span class=\"_ _2\"></span>eive<span class=\"_ _2\"></span>d for t<span class=\"_ _2\"></span>hird<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y con<span class=\"_ _2\"></span>tent o<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices<span class=\"_ _2\"></span>, suc<span class=\"_ _2\"></span>h as s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle<span class=\"_ _2\"></span>ment f<span class=\"_ _2\"></span>ees<span class=\"_ _2\"></span>, are rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed n<span class=\"_ _2\"></span>et wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n reven<span class=\"_ _2\"></span>ue on t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te of th<span class=\"_ _2\"></span>e tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Those customer contract<span class=\"_ _2\"></span>s across<span class=\"_ _0\"></span> the Group that contain a s<span class=\"_ _0\"></span>ingle pe<span class=\"_ _2\"></span>rfo<span class=\"_ _2\"></span>rma<span class=\"_ _2\"></span>nce obl<span class=\"_ _2\"></span>igat<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>t a fi<span class=\"_ _2\"></span>xed pr<span class=\"_ _2\"></span>ice do n<span class=\"_ _2\"></span>ot requ<span class=\"_ _2\"></span>ire va<span class=\"_ _2\"></span>riab<span class=\"_ _2\"></span>le consideration to be<span class=\"_ _0\"></span> calculated. However<span class=\"_ _0\"></span>, some businesses<span class=\"_ _0\"></span> in th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p prov<span class=\"_ _2\"></span>ide s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>es to cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>ers u<span class=\"_ _2\"></span>nder a t<span class=\"_ _2\"></span>iere<span class=\"_ _2\"></span>d or ta<span class=\"_ _2\"></span>rif<span class=\"_ _2\"></span>f pricing struc<span class=\"_ _2\"></span>ture that generat<span class=\"_ _0\"></span>es a degree of<span class=\"_ _0\"></span> variabilit<span class=\"_ _2\"></span>y in the reve<span class=\"_ _2\"></span>nue s<span class=\"_ _2\"></span>trea<span class=\"_ _2\"></span>ms fro<span class=\"_ _2\"></span>m the co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t as a res<span class=\"_ _2\"></span>ult of a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal ch<span class=\"_ _2\"></span>arge<span class=\"_ _2\"></span>s or di<span class=\"_ _2\"></span>scou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s give<span class=\"_ _2\"></span>n. W<span class=\"_ _2\"></span>here t<span class=\"_ _2\"></span>he fu<span class=\"_ _2\"></span>ture rev<span class=\"_ _2\"></span>enue f<span class=\"_ _2\"></span>rom a con<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>act<span class=\"_ _2\"></span> va<span class=\"_ _2\"></span>ries d<span class=\"_ _2\"></span>ue to fac<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span>rs t<span class=\"_ _2\"></span>hat are o<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>side t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s con<span class=\"_ _2\"></span>trol<span class=\"_ _2\"></span>, the<span class=\"_ _2\"></span> Group limits the total transac<span class=\"_ _2\"></span>tion price<span class=\"_ _0\"></span> at contrac<span class=\"_ _2\"></span>t i<span class=\"_ _0\"></span>nception and recognises the minimum<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> revenue guaranteed by<span class=\"_ _0\"></span> the ter<span class=\"_ _2\"></span>ms of t<span class=\"_ _2\"></span>he cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct ov<span class=\"_ _2\"></span>er the c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t pe<span class=\"_ _2\"></span>riod<span class=\"_ _2\"></span>. Any v<span class=\"_ _2\"></span>ari<span class=\"_ _2\"></span>able<span class=\"_ _2\"></span> element is subsequently recognised in<span class=\"_ _0\"></span> the period in which the va<span class=\"_ _2\"></span>riab<span class=\"_ _2\"></span>le con<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>ion is s<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>sf<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>d and t<span class=\"_ _2\"></span>here is n<span class=\"_ _2\"></span>o sign<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>nt ris<span class=\"_ _2\"></span>k of reve<span class=\"_ _2\"></span>rsa<span class=\"_ _2\"></span>l of tha<span class=\"_ _2\"></span>t revenu<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span>Rebates<span class=\"_ _0\"></span> given to customers as part of an operating agreement ar<span class=\"_ _0\"></span>e ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated on a p<span class=\"_ _2\"></span>ro<span class=\"_ _2\"></span>-r<span class=\"_ _2\"></span>ata b<span class=\"_ _2\"></span>asis o<span class=\"_ _2\"></span>n revenu<span class=\"_ _2\"></span>e earn<span class=\"_ _2\"></span>ed an<span class=\"_ _2\"></span>d recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as t<span class=\"_ _2\"></span>hey fa<span class=\"_ _2\"></span>ll due<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The Group does no<span class=\"_ _0\"></span>t have any<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts where the period between the trans<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span> of ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> to a customer and<span class=\"_ _0\"></span> when the cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>er is ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>o pay for t<span class=\"_ _2\"></span>hat se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice i<span class=\"_ _2\"></span>s lon<span class=\"_ _2\"></span>ger t<span class=\"_ _2\"></span>han on<span class=\"_ _2\"></span>e yea<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. A<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t, n<span class=\"_ _2\"></span>o adju<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts ar<span class=\"_ _2\"></span>e made to re<span class=\"_ _2\"></span>venu<span class=\"_ _2\"></span>e for any financing component<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Net treasury income<span class=\"_ _314\"> </span>Net treasury income is generated<span class=\"_ _0\"></span> from t<span class=\"_ _2\"></span>wo<span class=\"_ _0\"></span> sources. First<span class=\"_ _2\"></span>ly<span class=\"_ _0\"></span>, the CCP businesses securely<span class=\"_ _0\"></span> invest the cash collateral lodged with them and earn treasury income from<span class=\"_ _0\"></span> various invest<span class=\"_ _2\"></span>ments (including government debt and<span class=\"_ _0\"></span> reverse repos<span class=\"_ _0\"></span>) and cash deposits wit<span class=\"_ _2\"></span>h central banks. At the same time,<span class=\"_ _0\"></span> the CCPs pay interest at<span class=\"_ _0\"></span> an overnight benchmark rate<span class=\"_ _0\"></span> to their members on the c<span class=\"_ _0\"></span>ollateral pla<span class=\"_ _2\"></span>ced w<span class=\"_ _2\"></span>ith t<span class=\"_ _2\"></span>he bu<span class=\"_ _2\"></span>sine<span class=\"_ _2\"></span>ss, w<span class=\"_ _2\"></span>hil<span class=\"_ _2\"></span>st ch<span class=\"_ _2\"></span>argi<span class=\"_ _2\"></span>ng a spre<span class=\"_ _2\"></span>ad on t<span class=\"_ _2\"></span>hat ra<span class=\"_ _2\"></span>te as a fe<span class=\"_ _2\"></span>e. This s<span class=\"_ _2\"></span>prea<span class=\"_ _2\"></span>d prov<span class=\"_ _2\"></span>ides t<span class=\"_ _2\"></span>he se<span class=\"_ _2\"></span>cond s<span class=\"_ _2\"></span>ource of i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e. The resulting net<span class=\"_ _0\"></span> treasur<span class=\"_ _2\"></span>y income<span class=\"_ _0\"></span> is recognised within total income and<span class=\"_ _0\"></span> disclosed separately from rev<span class=\"_ _0\"></span>enue.<span class=\"_ _314\"> </span>Other income<span class=\"_ _314\"> </span>Other income mainly relat<span class=\"_ _0\"></span>es to operating lease income<span class=\"_ _0\"></span> and fees from serv<span class=\"_ _2\"></span>ice<span class=\"_ _0\"></span> agreement<span class=\"_ _2\"></span>s. Such<span class=\"_ _0\"></span> fees are<span class=\"_ _0\"></span> generated from the prov<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>on of eve<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s and me<span class=\"_ _2\"></span>dia se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s, wh<span class=\"_ _2\"></span>ich ar<span class=\"_ _2\"></span>e ty<span class=\"_ _2\"></span>pic<span class=\"_ _2\"></span>all<span class=\"_ _2\"></span>y recognised at<span class=\"_ _0\"></span> the point the ser<span class=\"_ _2\"></span>vice is<span class=\"_ _0\"></span> rendered.<span class=\"_ _314\"> </span>Cost of sales<span class=\"_ _314\"> </span>Cost of sales comprises: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Data and lic<span class=\"_ _0\"></span>ence fees;</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Dat<span class=\"_ _2\"></span>a feed c<span class=\"_ _2\"></span>ost<span class=\"_ _2\"></span>s;</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws18\">Royalties;</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Exp<span class=\"_ _2\"></span>enses<span class=\"_ _0\"></span> incurred in respect of pr<span class=\"_ _0\"></span>of<span class=\"_ _2\"></span>it share<span class=\"_ _0\"></span> arrangement<span class=\"_ _2\"></span>s;</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Cost<span class=\"_ _2\"></span>s dir<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>tly at<span class=\"_ _2\"></span>tributable to the c<span class=\"_ _0\"></span>ons<span class=\"_ _2\"></span>truct<span class=\"_ _2\"></span>ion and<span class=\"_ _0\"></span> deliver<span class=\"_ _2\"></span>y </span>of go<span class=\"_ _2\"></span>ods o<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices; a<span class=\"_ _2\"></span>nd <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Any other costs linked and<span class=\"_ _0\"></span> direc<span class=\"_ _2\"></span>tly incurred t<span class=\"_ _0\"></span>o generate </span>revenues<span class=\"_ _0\"></span> and provide serv<span class=\"_ _2\"></span>ices<span class=\"_ _0\"></span> to customers.<span class=\"_ _314\"> </span>Prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t share ex<span class=\"_ _2\"></span>pen<span class=\"_ _2\"></span>ses re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised a<span class=\"_ _2\"></span>s cos<span class=\"_ _2\"></span>t of sal<span class=\"_ _2\"></span>es rela<span class=\"_ _2\"></span>te to a small<span class=\"_ _0\"></span> number of arrangement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th c<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>tain customers where th<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment to t<span class=\"_ _2\"></span>he cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer is l<span class=\"_ _2\"></span>inked to t<span class=\"_ _2\"></span>he tot<span class=\"_ _2\"></span>al pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e par<span class=\"_ _2\"></span>ticular business c<span class=\"_ _0\"></span>oncerned.<span class=\"_ _314\"> </span><div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs1d5\">  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1d6\">In some instances, we r<span class=\"_ _0\"></span>eceive consideration, or an amount<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1d7\">of con<span class=\"_ _2\"></span>sid<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>s due, in r<span class=\"_ _2\"></span>elat<span class=\"_ _2\"></span>ion to o<span class=\"_ _2\"></span>ur obl<span class=\"_ _2\"></span>igat<span class=\"_ _2\"></span>ion to t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sfer<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1d8\">go<span class=\"_ _2\"></span>ods or s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ces to a cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer in t<span class=\"_ _2\"></span>he fu<span class=\"_ _2\"></span>ture. R<span class=\"_ _2\"></span>evenu<span class=\"_ _2\"></span>e relat<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1d9\">to these future<span class=\"_ _0\"></span> period<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> is classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> a contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y on the<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1da\">balance sheet.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1db\">Contrac<span class=\"_ _2\"></span>t liabilities are<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tised and recognised<span class=\"_ _0\"></span> as revenue o<span class=\"_ _0\"></span>ver<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1dc\">the period the ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> are rendered.<span class=\"_ _314\"> </span></div><div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs1de\">  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1df\">Cost<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e recognised in the<span class=\"_ _0\"></span> income statement as incurred and<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1e0\">measured after deduct<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> any time<span class=\"_ _2\"></span>- and<span class=\"_ _0\"></span> value<span class=\"_ _2\"></span>-limited discounts.<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1e1\">Other discount<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e spread o<span class=\"_ _0\"></span>ver the contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> term.<span class=\"_ _314\"> </span> </div><div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs1ff\">  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls23 ws7 gs200\">The accounting policies<span class=\"_ _0\"></span> for the following<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> income and finance<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls46 ws7 gs201\">cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are described in the r<span class=\"_ _0\"></span>elevant notes t<span class=\"_ _0\"></span>o the financial st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span></div><div class=\"gs202\"><table class=\"s w351 h23b\" id=\"_5cd83fbd-eee9-4289-a1ad-de13e1b51675\"><tr><td></td><td class=\"t m2 x60b hb y21ab ff71 fs6 fc1 sc0 ls9e wsca\">Note</td><td></td></tr><tr><td class=\"t m2 x60c h193 y21ac ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income on<span class=\"_ _0\"></span> retirement</span><span class=\"ls6c ws7e\"> </span></td><td class=\"c n x60d y21ad w210 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x60e y21ad w352 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pension and<span class=\"_ _0\"></span> other<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x60f h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td class=\"t m2 x610 h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it </td></tr><tr><td class=\"t m2 x60c h193 y21af ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on retirement</span><span class=\"ls6c ws7e\"> </span></td><td></td><td class=\"t m2 x610 h193 y21af ff71 fs129 fc1 sc0 ls6c ws96\">schemes<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m2 x60f h193 y21b0 ff71 fs129 fc1 sc0 ls76 ws5\">benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligat<span class=\"_ _2\"></span>ions<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b1 w353 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Interest on borro<span class=\"_ _0\"></span>wings<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x611 y21b1 w354 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x612 y21b1 w355 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">B<span class=\"_ _2\"></span>orro<span class=\"_ _0\"></span>wings</div></td></tr><tr><td class=\"t m2 x60c h193 y21b2 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></td><td class=\"c n x613 y212d w356 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x614 y212d w357 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Lease<span class=\"_ _0\"></span> liabilities and net</div></td></tr><tr><td class=\"t m2 x60c h193 y21b3 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span></td><td></td><td class=\"t m2 x610 h193 y21b3 ff71 fs129 fc1 sc0 ls76 ws5\">investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> leases<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs203\">Interest earned on cash<span class=\"_ _0\"></span> deposited wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs204\">and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le on bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, wh<span class=\"_ _2\"></span>ich ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e agre<span class=\"_ _2\"></span>ed<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls4a ws5 gs205\">market-based or c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ractual rate f<span class=\"_ _0\"></span>or each transact<span class=\"_ _2\"></span>ion, ar<span class=\"_ _0\"></span>e calculated<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs206\">using the effect<span class=\"_ _2\"></span>ive int<span class=\"_ _0\"></span>erest method. Interest payable on bank<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs207\">and other borrowings is<span class=\"_ _0\"></span> presented net of<span class=\"_ _0\"></span> hedging derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs208\">Recurring fees and<span class=\"_ _0\"></span> charges levied on c<span class=\"_ _0\"></span>ommit<span class=\"_ _2\"></span>ted bank facilities,<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs209\">cash management transact<span class=\"_ _2\"></span>ions and<span class=\"_ _0\"></span> the payment ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs20a\">prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s bank<span class=\"_ _2\"></span>s are cha<span class=\"_ _2\"></span>rged a<span class=\"_ _2\"></span>s accr<span class=\"_ _2\"></span>ued in o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs20b\">finance expenses. Credit facilit<span class=\"_ _2\"></span>y arrangement f<span class=\"_ _0\"></span>ees are capitalised<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs20c\">and then amort<span class=\"_ _2\"></span>ised ov<span class=\"_ _0\"></span>er the term of<span class=\"_ _0\"></span> the facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div>Accounting policy<span class=\"_ _314\"> </span>In<span class=\"_ _2\"></span>come t<span class=\"_ _2\"></span>ax com<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>ses cu<span class=\"_ _2\"></span>rren<span class=\"_ _2\"></span>t and defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax<span class=\"_ _2\"></span>. Cur<span class=\"_ _2\"></span>rent a<span class=\"_ _2\"></span>nd deferred<span class=\"_ _0\"></span> tax charges and benefit<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e recognised in<span class=\"_ _0\"></span> the income st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent exce<span class=\"_ _2\"></span>pt to th<span class=\"_ _2\"></span>e ex<span class=\"_ _2\"></span>tent t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>hey rela<span class=\"_ _2\"></span>te to ite<span class=\"_ _2\"></span>ms reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed direct<span class=\"_ _2\"></span>ly in<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y or other c<span class=\"_ _0\"></span>omprehensive income.<span class=\"_ _314\"> </span>Current income<span class=\"_ _0\"></span> tax<span class=\"ff71 ls3 ws3\"> is c<span class=\"_ _2\"></span>alcu<span class=\"_ _2\"></span>late<span class=\"_ _2\"></span>d base<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e tax l<span class=\"_ _2\"></span>aws en<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>ted </span>or substanti<span class=\"_ _2\"></span>vely en<span class=\"_ _0\"></span>ac<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> at the balance sheet<span class=\"_ _0\"></span> date in the c<span class=\"_ _0\"></span>ountr<span class=\"_ _2\"></span>ies where the Group operates<span class=\"_ _0\"></span> and generates taxable income<span class=\"_ _0\"></span>. Current income tax assets and liabilities are<span class=\"_ _0\"></span> measured at the amount exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted to b<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>red fro<span class=\"_ _2\"></span>m or pai<span class=\"_ _2\"></span>d to ta<span class=\"_ _2\"></span>xati<span class=\"_ _2\"></span>on au<span class=\"_ _2\"></span>tho<span class=\"_ _2\"></span>rit<span class=\"_ _2\"></span>ies<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Deferred tax<span class=\"ff71 ls3 ws3\"> is t<span class=\"_ _2\"></span>he ta<span class=\"_ _2\"></span>x exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted to be p<span class=\"_ _2\"></span>ayab<span class=\"_ _2\"></span>le or re<span class=\"_ _2\"></span>cover<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e in </span>the future on differences between the carr<span class=\"_ _2\"></span>ying amount o<span class=\"_ _0\"></span>f asset<span class=\"_ _2\"></span>s and liabilities for<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting purposes and the corr<span class=\"_ _0\"></span>esponding<span class=\"_ _2\"></span> amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s us<span class=\"_ _2\"></span>ed for t<span class=\"_ _2\"></span>ax pur<span class=\"_ _2\"></span>pos<span class=\"_ _2\"></span>es. D<span class=\"_ _2\"></span>eferre<span class=\"_ _2\"></span>d tax i<span class=\"_ _2\"></span>s accou<span class=\"_ _2\"></span>nted fo<span class=\"_ _2\"></span>r using the liability method and calculated using<span class=\"_ _0\"></span> ta<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> rates that are substant<span class=\"_ _2\"></span>ively enacted and e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>ted to<span class=\"_ _0\"></span> apply in the period when the asset is r<span class=\"_ _0\"></span>ealised or the liability set<span class=\"_ _2\"></span>tled<span class=\"_ _314\"> </span> <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>Digital asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are recognised as<span class=\"_ _0\"></span> current intangible assets and ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly m<span class=\"_ _2\"></span>easu<span class=\"_ _2\"></span>red at co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>. Fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>ing in<span class=\"_ _2\"></span>iti<span class=\"_ _2\"></span>al reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n, th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>ets<span class=\"_ _2\"></span> are carried at<span class=\"_ _0\"></span> cost less any impairment losses. As the Group\u2019<span class=\"_ _0\"></span>s digital asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> have indefinite useful lives, they ar<span class=\"_ _0\"></span>e not amort<span class=\"_ _2\"></span>ised but are t<span class=\"_ _0\"></span>ested for impairment annually<span class=\"_ _0\"></span>, with any impairment losses recognised in<span class=\"_ _0\"></span> the income statement<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Im<span class=\"_ _2\"></span>pair<span class=\"_ _2\"></span>ment i<span class=\"_ _2\"></span>s mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>s the a<span class=\"_ _2\"></span>moun<span class=\"_ _2\"></span>t by whi<span class=\"_ _2\"></span>ch th<span class=\"_ _2\"></span>e car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g val<span class=\"_ _2\"></span>ue excee<span class=\"_ _2\"></span>ds t<span class=\"_ _2\"></span>he recov<span class=\"_ _2\"></span>erab<span class=\"_ _2\"></span>le am<span class=\"_ _2\"></span>ount<span class=\"_ _2\"></span>, wh<span class=\"_ _2\"></span>ich is t<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>pic<span class=\"_ _2\"></span>all<span class=\"_ _2\"></span>y determined using fair<span class=\"_ _0\"></span> value less costs of disposal. Digital assets are der<span class=\"_ _0\"></span>ecognised on disposal or when no<span class=\"_ _0\"></span> future economic benefi<span class=\"_ _2\"></span>ts are<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted t<span class=\"_ _0\"></span>o arise. Gains or<span class=\"_ _0\"></span> losses on derecognition are r<span class=\"_ _0\"></span>ecognised in the income statement as<span class=\"_ _0\"></span> the dif<span class=\"_ _2\"></span>ferenc<span class=\"_ _0\"></span>e between the disposal proceeds and<span class=\"_ _0\"></span> the carr<span class=\"_ _2\"></span>ying amount of the asset.<span class=\"_ _314\"> </span><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1af\">Defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax is n<span class=\"_ _2\"></span>ot reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for<span class=\"_ _2\"></span>:</div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs23e\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">T<span class=\"_ _3\"></span>empo<span class=\"_ _2\"></span>rary dif<span class=\"_ _2\"></span>ferenc<span class=\"_ _0\"></span>es on the initial recognition of<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs23f\">or liabilities in a<span class=\"_ _0\"></span> trans<span class=\"_ _2\"></span>action that is not<span class=\"_ _0\"></span> a business combination </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs240\">and t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>ffe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>ts ne<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>her th<span class=\"_ _2\"></span>e accou<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ng pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t nor t<span class=\"_ _2\"></span>axab<span class=\"_ _2\"></span>le pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t</div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs1b2\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">T<span class=\"_ _3\"></span>empo<span class=\"_ _2\"></span>rary dif<span class=\"_ _2\"></span>ferenc<span class=\"_ _0\"></span>es arising on the initial r<span class=\"_ _0\"></span>ecognit<span class=\"_ _2\"></span>ion </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 lsf ws48 gs241\">of goodwill<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs242\">Deferred<span class=\"_ _0\"></span> ta<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> liabilities are recognised f<span class=\"_ _0\"></span>or taxable temporar<span class=\"_ _2\"></span>y </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls9 ws7 gs243\">dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ences associated with interests in subsidiaries and<span class=\"_ _0\"></span> associates, </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls7 ws7 gs244\">exc<span class=\"_ _0\"></span>ept where the Group is<span class=\"_ _0\"></span> able to control<span class=\"_ _0\"></span> the timing of the rev<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>sal </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs245\">of t<span class=\"_ _2\"></span>he temp<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y dif<span class=\"_ _2\"></span>fere<span class=\"_ _2\"></span>nce an<span class=\"_ _2\"></span>d it is p<span class=\"_ _2\"></span>robab<span class=\"_ _2\"></span>le th<span class=\"_ _2\"></span>at th<span class=\"_ _2\"></span>e temp<span class=\"_ _2\"></span>orar<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs246\">dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ence will not r<span class=\"_ _0\"></span>everse in the for<span class=\"_ _0\"></span>eseeable future. Deferr<span class=\"_ _0\"></span>ed tax </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs247\">assets arising from deduct<span class=\"_ _2\"></span>ible t<span class=\"_ _0\"></span>emporar<span class=\"_ _2\"></span>y dif<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>erences associated </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs248\">wi<span class=\"_ _2\"></span>th su<span class=\"_ _2\"></span>ch int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>re recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d onl<span class=\"_ _2\"></span>y to th<span class=\"_ _2\"></span>e ex<span class=\"_ _2\"></span>tent t<span class=\"_ _2\"></span>hat it i<span class=\"_ _2\"></span>s </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs249\">pro<span class=\"_ _2\"></span>babl<span class=\"_ _2\"></span>e tha<span class=\"_ _2\"></span>t the<span class=\"_ _2\"></span>re wil<span class=\"_ _2\"></span>l be suf<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ient t<span class=\"_ _2\"></span>axab<span class=\"_ _2\"></span>le pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>gain<span class=\"_ _2\"></span>st w<span class=\"_ _2\"></span>hich<span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs24a\">to utilise the benefit<span class=\"_ _2\"></span>s o<span class=\"_ _0\"></span>f the temporar<span class=\"_ _2\"></span>y differences and<span class=\"_ _0\"></span> they are </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs24b\">expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed to re<span class=\"_ _0\"></span>verse in the foreseeable<span class=\"_ _0\"></span> fu<span class=\"_ _2\"></span>ture<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs25b\">The c<span class=\"_ _2\"></span>arr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>moun<span class=\"_ _2\"></span>t of defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s is rev<span class=\"_ _2\"></span>iewe<span class=\"_ _2\"></span>d at eac<span class=\"_ _2\"></span>h </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs25c\">rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date a<span class=\"_ _2\"></span>nd redu<span class=\"_ _2\"></span>ced to t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t that i<span class=\"_ _2\"></span>t is no l<span class=\"_ _2\"></span>ong<span class=\"_ _2\"></span>er </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs25d\">pro<span class=\"_ _2\"></span>babl<span class=\"_ _2\"></span>e tha<span class=\"_ _2\"></span>t suf<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ici<span class=\"_ _2\"></span>ent ta<span class=\"_ _2\"></span>xab<span class=\"_ _2\"></span>le prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t will b<span class=\"_ _2\"></span>e ava<span class=\"_ _2\"></span>ilab<span class=\"_ _2\"></span>le to all<span class=\"_ _2\"></span>ow </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs25e\">all o<span class=\"_ _2\"></span>r par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set to b<span class=\"_ _2\"></span>e ut<span class=\"_ _2\"></span>ilis<span class=\"_ _2\"></span>ed. U<span class=\"_ _2\"></span>nreco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs25f\">defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are re<span class=\"_ _2\"></span>-a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>d at each r<span class=\"_ _2\"></span>epor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ing d<span class=\"_ _2\"></span>ate and<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs260\">are re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised to t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t tha<span class=\"_ _2\"></span>t it ha<span class=\"_ _2\"></span>s beco<span class=\"_ _2\"></span>me pro<span class=\"_ _2\"></span>babl<span class=\"_ _2\"></span>e tha<span class=\"_ _2\"></span>t </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs261\">fu<span class=\"_ _2\"></span>ture t<span class=\"_ _2\"></span>axab<span class=\"_ _2\"></span>le pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>ill a<span class=\"_ _2\"></span>llow t<span class=\"_ _2\"></span>he defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set to </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 lsf ws48 gs262\">be r<span class=\"_ _0\"></span>ecover<span class=\"_ _0\"></span>ed.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs263\">T<span class=\"_ _3\"></span>a<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> liabilities are offset when there is a<span class=\"_ _0\"></span> legall<span class=\"_ _2\"></span>y </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs264\">enfo<span class=\"_ _2\"></span>rceab<span class=\"_ _2\"></span>le ri<span class=\"_ _2\"></span>ght to se<span class=\"_ _2\"></span>t of<span class=\"_ _2\"></span>f cur<span class=\"_ _2\"></span>rent t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s agai<span class=\"_ _2\"></span>ns<span class=\"_ _2\"></span>t curre<span class=\"_ _2\"></span>nt ta<span class=\"_ _2\"></span>x </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs265\">liabilities and when they r<span class=\"_ _0\"></span>elate to<span class=\"_ _0\"></span> income taxes levied by<span class=\"_ _0\"></span> the same </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs266\">ta<span class=\"_ _2\"></span>xat<span class=\"_ _2\"></span>ion au<span class=\"_ _2\"></span>tho<span class=\"_ _2\"></span>rit<span class=\"_ _2\"></span>y o<span class=\"_ _2\"></span>n eit<span class=\"_ _2\"></span>her t<span class=\"_ _2\"></span>he sam<span class=\"_ _2\"></span>e tax<span class=\"_ _2\"></span>able e<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y or on d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>feren<span class=\"_ _2\"></span>t </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs267\">ta<span class=\"_ _2\"></span>xabl<span class=\"_ _2\"></span>e ent<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies wh<span class=\"_ _2\"></span>ich in<span class=\"_ _2\"></span>tend to s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle t<span class=\"_ _2\"></span>he cu<span class=\"_ _2\"></span>rrent t<span class=\"_ _2\"></span>ax a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s an<span class=\"_ _2\"></span>d </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsc6\">liabilities on a net<span class=\"_ _0\"></span> basis.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsc8\">In re<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>ion to G<span class=\"_ _2\"></span>loba<span class=\"_ _2\"></span>l Min<span class=\"_ _2\"></span>imum T<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>x, t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up has a<span class=\"_ _2\"></span>ppli<span class=\"_ _2\"></span>ed a </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls10 ws20 gsc9\">mandatory temporary exce<span class=\"_ _0\"></span>ption from def<span class=\"_ _0\"></span>erred tax ac<span class=\"_ _0\"></span>counting for </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsca\">th<span class=\"_ _2\"></span>e impa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s of t<span class=\"_ _2\"></span>he top<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>up ta<span class=\"_ _2\"></span>x and w<span class=\"_ _2\"></span>ill ac<span class=\"_ _2\"></span>coun<span class=\"_ _2\"></span>t for it a<span class=\"_ _2\"></span>s a curre<span class=\"_ _2\"></span>nt </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gscb\">ta<span class=\"_ _2\"></span>x whe<span class=\"_ _2\"></span>n it is i<span class=\"_ _2\"></span>ncur<span class=\"_ _2\"></span>red.<span class=\"_ _2\"></span> </div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs265\">  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs266\">Ba<span class=\"_ _2\"></span>sic ear<span class=\"_ _2\"></span>nin<span class=\"_ _2\"></span>gs per s<span class=\"_ _2\"></span>hare is i<span class=\"_ _2\"></span>n resp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t of all a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies. D<span class=\"_ _2\"></span>ilu<span class=\"_ _2\"></span>ted </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs267\">earnings per share<span class=\"_ _0\"></span> takes into<span class=\"_ _0\"></span> account the dilutive effec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> that would </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsc6\">arise on conv<span class=\"_ _0\"></span>ersion or vesting of all outst<span class=\"_ _2\"></span>anding s<span class=\"_ _0\"></span>hare options and </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsc7\">share a<span class=\"_ _0\"></span>wards under the Group\u2019<span class=\"_ _0\"></span>s share<span class=\"_ _0\"></span> option and award<span class=\"_ _0\"></span> schemes. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsc8\">Adj<span class=\"_ _2\"></span>ust<span class=\"_ _2\"></span>ed bas<span class=\"_ _2\"></span>ic ear<span class=\"_ _2\"></span>ning<span class=\"_ _2\"></span>s per s<span class=\"_ _2\"></span>hare an<span class=\"_ _2\"></span>d adju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d dilu<span class=\"_ _2\"></span>ted ea<span class=\"_ _2\"></span>rni<span class=\"_ _2\"></span>ngs </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4a ws7 gsc9\">per share<span class=\"_ _0\"></span> exclude non-underl<span class=\"_ _2\"></span>ying items fr<span class=\"_ _0\"></span>om earnings (as described </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsca\">in note<span class=\"_ _0\"></span> 2 and in the<span class=\"_ _0\"></span> Al<span class=\"_ _2\"></span>ternative Performance Measures<span class=\"_ _0\"></span> sec<span class=\"_ _2\"></span>tion </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gscb\">of t<span class=\"_ _2\"></span>his rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t)<span class=\"_ _314\"> <span class=\"_ _314\"> </span></span><span class=\"_ _2\"></span>.</div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls2 ws2 gsb0\">  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls5 ws5 gsb1\">Dividend dist<span class=\"_ _2\"></span>ributions to<span class=\"_ _0\"></span> the Company\u2019s equity holders are </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls60 ws7 gsb2\">recognised as<span class=\"_ _0\"></span> a liabilit<span class=\"_ _2\"></span>y in<span class=\"_ _0\"></span> the Group financial statement<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> the period<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls59 ws7 gsb3\">in which the dividends are<span class=\"_ _0\"></span> approved by the Company\u2019s<span class=\"_ _0\"></span> shareholders<span class=\"_ _314\"> </span>.<span class=\"_ _2\"></span> </div>  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> arising on the acquisition of a<span class=\"_ _0\"></span> business is initially mea<span class=\"_ _2\"></span>sure<span class=\"_ _2\"></span>d at cos<span class=\"_ _2\"></span>t, b<span class=\"_ _2\"></span>eing t<span class=\"_ _2\"></span>he am<span class=\"_ _2\"></span>ount b<span class=\"_ _2\"></span>y whic<span class=\"_ _2\"></span>h the a<span class=\"_ _2\"></span>ggre<span class=\"_ _2\"></span>gate of<span class=\"_ _2\"></span> the consideration transferred and the amount r<span class=\"_ _0\"></span>ecognised for any non-<span class=\"_ _2\"></span>controlling inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ts (plus any pr<span class=\"_ _0\"></span>evious interest held), ex<span class=\"_ _0\"></span>ceeds the net identifiable asset<span class=\"_ _2\"></span>s acquir<span class=\"_ _0\"></span>ed and liabilities assumed.<span class=\"_ _314\"> </span>Af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r init<span class=\"_ _2\"></span>ial re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ion, g<span class=\"_ _2\"></span>ood<span class=\"_ _2\"></span>wil<span class=\"_ _2\"></span>l is mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t less a<span class=\"_ _2\"></span>ny accumulated<span class=\"_ _0\"></span> impairment losses. For the purpose of impairment testing, on the date o<span class=\"_ _0\"></span>f acquisition, goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> acquired in a<span class=\"_ _0\"></span> business com<span class=\"_ _2\"></span>bina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is all<span class=\"_ _2\"></span>ocat<span class=\"_ _2\"></span>ed to one o<span class=\"_ _2\"></span>r more o<span class=\"_ _2\"></span>f the G<span class=\"_ _2\"></span>roup\u2019s ca<span class=\"_ _2\"></span>sh<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span>gen<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g unit<span class=\"_ _2\"></span>s (CG<span class=\"_ _2\"></span>Us) t<span class=\"_ _2\"></span>hat are ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d to bene<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t fro<span class=\"_ _2\"></span>m the combination.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill ha<span class=\"_ _2\"></span>s bee<span class=\"_ _2\"></span>n allo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to a CGU an<span class=\"_ _2\"></span>d par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin t<span class=\"_ _2\"></span>hat uni<span class=\"_ _2\"></span>t is di<span class=\"_ _2\"></span>spo<span class=\"_ _2\"></span>sed of, t<span class=\"_ _2\"></span>he go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill a<span class=\"_ _2\"></span>ssoc<span class=\"_ _2\"></span>iate<span class=\"_ _2\"></span>d with the disposed operation is included in the carry<span class=\"_ _2\"></span>ing amount when determining its gain or<span class=\"_ _0\"></span> loss on disposal. Goodwill disposed in these circumstances is<span class=\"_ _0\"></span> measured based on the r<span class=\"_ _0\"></span>elative values of t<span class=\"_ _2\"></span>he dis<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion an<span class=\"_ _2\"></span>d the p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of t<span class=\"_ _2\"></span>he CGU re<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>ed.<span class=\"_ _314\"> </span>Purchased intangible assets<span class=\"_ _314\"> </span>Purchased intangible assets are initially rec<span class=\"_ _0\"></span>ognised at cost. The cost of<span class=\"_ _0\"></span> intangibl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>quired in a business<span class=\"_ _0\"></span> combination is t<span class=\"_ _2\"></span>heir f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue at t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te of acq<span class=\"_ _2\"></span>uisi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n. Th<span class=\"_ _2\"></span>is is de<span class=\"_ _2\"></span>termi<span class=\"_ _2\"></span>ned using valuation methodologies such as<span class=\"_ _0\"></span> the mult<span class=\"_ _2\"></span>i-period excess earnings method or rel<span class=\"_ _0\"></span>ief from ro<span class=\"_ _0\"></span>yalt<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Following initial recognition, intangible assets are carried at cost less an<span class=\"_ _0\"></span>y accumulated amor<span class=\"_ _2\"></span>tisation and accumulat<span class=\"_ _0\"></span>ed impairment losses<span class=\"_ _314\"> </span><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2ad\">These assets are amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> as follows:<span class=\"_ _314\"> </span></div><div class=\"gs2ae\"><table class=\"s w44a h251\" id=\"_56b4d1dd-c642-4770-b2b6-c6fe48868f1c\"><tr><td></td><td></td><td class=\"t m0 x74b hb y2215 ff71 fs6 fc1 sc0 ls7a wsbe\">Amor<span class=\"_ _2\"></span>tisation </td></tr><tr><td></td><td></td><td class=\"t m0 x74c hb y2216 ff71 fs6 fc1 sc0 ls27 ws43\">period or useful </td></tr><tr><td class=\"c n x1eb y2217 w44b h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lse0 ws110\">As<span class=\"_ _2\"></span>sets<span class=\"_ _314\"> </span></div></td><td class=\"c n x74d y2217 w44c h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsf1 wscc\">Amortisation<span class=\"_ _0\"></span> metho<span class=\"_ _0\"></span>d<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x74e hb y2218 ff71 fs6 fc1 sc0 ls27 ws43\">economic life<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x41d h193 y2219 ff71 fs129 fc1 sc0 ls6c ws7e\">Customer and supplier </td><td class=\"c n x74f y221a w44d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x750 y221a w44e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">5 t<span class=\"_ _2\"></span>o 25 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x41d h193 y221b ff71 fs129 fc1 sc0 ls76 ws9f\">relationships<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y219d w44f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws96\">Brands<span class=\"_ _314\"> </span></div></td><td class=\"c n x751 y219d w450 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x752 y219d w451 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">4 to 25 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w452 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Databases and c<span class=\"_ _0\"></span>ontent<span class=\"_ _314\"> </span></div></td><td class=\"c n x753 y219e w453 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">St<span class=\"_ _2\"></span>raight-line basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x754 y219e w454 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">5 t<span class=\"_ _2\"></span>o 12 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y221c w455 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls39 ws0\">Sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware<span class=\"_ _314\"> </span></div></td><td class=\"c n x755 y221c w456 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Straight-line basis or<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x756 h193 y221d ff71 fs129 fc1 sc0 ls6a ws3\">7 to 15 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x757 h193 y221e ff71 fs129 fc1 sc0 ls6c ws7e\">reducing balanc<span class=\"_ _0\"></span>e basis<span class=\"_ _314\"> </span></td><td></td></tr><tr><td class=\"c x1eb y2069 w457 h222\"><div class=\"t m0 x1e4 h193 y20d1 ff71 fs129 fc1 sc0 ls6c ws7e\">Licences<span class=\"_ _0\"></span> and<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">intellectual proper<span class=\"_ _2\"></span>ty<span class=\"_ _314\"> </span></div></td><td class=\"c n x74f y221f w44d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x758 y221f w458 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">3 to 25 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls22 ws3 gs2af\">Sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware, co<span class=\"_ _2\"></span>ntra<span class=\"_ _2\"></span>ct cos<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>nd othe<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2b0\">Sof<span class=\"_ _2\"></span>tware, contract cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> other comprises internally developed </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2b1\">sof<span class=\"_ _2\"></span>tware, soft<span class=\"_ _2\"></span>ware<span class=\"_ _0\"></span> purchased from third parties, the SwapClear </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2b2\">intangible asset and contract cost<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff73 fs2 fc1 sc0 ls7 wsa gs2b3\">Sof<span class=\"_ _2\"></span>tware and other<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2b4\">Exp<span class=\"_ _2\"></span>enditure<span class=\"_ _0\"></span> on internal product development, including </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2b5\">expenditure relat<span class=\"_ _0\"></span>ed to cloud c<span class=\"_ _0\"></span>omput<span class=\"_ _2\"></span>ing arrangements, </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2b6\">is capitalised if:</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs2b7\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The costs can be reliably measur<span class=\"_ _0\"></span>ed</span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs2b8\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The product or process is<span class=\"_ _0\"></span> technically and commercially<span class=\"_ _0\"></span> feasible</span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs2b9\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Future economic<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its are probable</span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs2ba\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The Group has<span class=\"_ _0\"></span> suf<span class=\"_ _2\"></span>ficient resources t<span class=\"_ _0\"></span>o complete the </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2bb\">development and t<span class=\"_ _0\"></span>o use or sell<span class=\"_ _0\"></span> the asset<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2bc\">In<span class=\"_ _2\"></span>terna<span class=\"_ _2\"></span>lly d<span class=\"_ _2\"></span>evelo<span class=\"_ _2\"></span>ped s<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware is i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y reco<span class=\"_ _2\"></span>rded a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t, w<span class=\"_ _2\"></span>hich </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2bd\">includes labour<span class=\"_ _0\"></span>, directly at<span class=\"_ _2\"></span>tributable cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> any third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2be\">expenses. Following initial recognition, the asset is carried at<span class=\"_ _0\"></span> cost </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2bf\">less any acc<span class=\"_ _0\"></span>umulated amor<span class=\"_ _2\"></span>tisation and accumulat<span class=\"_ _0\"></span>ed impairment </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2c0\">losses. Amor<span class=\"_ _2\"></span>tisation of the asset begins when de<span class=\"_ _0\"></span>velopment is </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2c1\">com<span class=\"_ _2\"></span>plete<span class=\"_ _2\"></span>, and t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et is av<span class=\"_ _2\"></span>aila<span class=\"_ _2\"></span>ble for u<span class=\"_ _2\"></span>se. Th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>ets a<span class=\"_ _2\"></span>re the<span class=\"_ _2\"></span>n </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2c2\">amor<span class=\"_ _2\"></span>tised on a<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>traight-line basis over<span class=\"_ _0\"></span> their useful economic lives </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2c3\">of t<span class=\"_ _2\"></span>hree to 12 y<span class=\"_ _2\"></span>ears<span class=\"_ _314\"> </span><span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div>The cost of<span class=\"_ _0\"></span> internally developed soft<span class=\"_ _2\"></span>ware acquir<span class=\"_ _0\"></span>ed in a business com<span class=\"_ _2\"></span>bina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is it<span class=\"_ _2\"></span>s fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e at th<span class=\"_ _2\"></span>e date of a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>. This m<span class=\"_ _2\"></span>ay include an incr<span class=\"_ _0\"></span>emental fair value adjustment to align the carry<span class=\"_ _2\"></span>ing val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>wa<span class=\"_ _2\"></span>re wit<span class=\"_ _2\"></span>h it<span class=\"_ _2\"></span>s fa<span class=\"_ _2\"></span>ir val<span class=\"_ _2\"></span>ue.<span class=\"_ _314\"> </span>Where variable payments, that are dependent on<span class=\"_ _0\"></span> our future ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, are to b<span class=\"_ _2\"></span>e made to t<span class=\"_ _2\"></span>hir<span class=\"_ _2\"></span>d par<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es for t<span class=\"_ _2\"></span>he dev<span class=\"_ _2\"></span>elop<span class=\"_ _2\"></span>ment o<span class=\"_ _2\"></span>f sof<span class=\"_ _2\"></span>tware, these ar<span class=\"_ _0\"></span>e excluded<span class=\"_ _0\"></span> from the initial measurement of<span class=\"_ _0\"></span> the asset. Ins<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>ad, the Group recognises the variable pa<span class=\"_ _0\"></span>ymen<span class=\"_ _2\"></span>ts as an expense when inc<span class=\"_ _0\"></span>urred.<span class=\"_ _314\"> </span>Sof<span class=\"_ _2\"></span>tware purchased fr<span class=\"_ _0\"></span>om third par<span class=\"_ _2\"></span>ties and<span class=\"_ _0\"></span> sof<span class=\"_ _2\"></span>tware licence cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> for the development and<span class=\"_ _0\"></span> implementat<span class=\"_ _2\"></span>ion o<span class=\"_ _0\"></span>f sys<span class=\"_ _2\"></span>tems<span class=\"_ _0\"></span> which enhance the services provided by the Group<span class=\"_ _0\"></span>, are r<span class=\"_ _0\"></span>ecognised at cost and amort<span class=\"_ _2\"></span>ised on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line basis<span class=\"_ _0\"></span> over their estimated useful economic lives<span class=\"_ _0\"></span> of three to<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>ive years. The<span class=\"_ _0\"></span> SwapClear int<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>ible a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed at co<span class=\"_ _2\"></span>st an<span class=\"_ _2\"></span>d amo<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d on a str<span class=\"_ _2\"></span>aight-line basis o<span class=\"_ _0\"></span>ver its es<span class=\"_ _2\"></span>timated<span class=\"_ _0\"></span> useful economic life of 1<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Contract costs<span class=\"_ _314\"> </span>Incremental costs of obtaining a c<span class=\"_ _0\"></span>us<span class=\"_ _2\"></span>tomer<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>t, such as sales commissions paid t<span class=\"_ _0\"></span>o employees, are<span class=\"_ _0\"></span> recognised as an intangible as<span class=\"_ _2\"></span>set if t<span class=\"_ _2\"></span>he be<span class=\"_ _2\"></span>nef<span class=\"_ _2\"></span>it of s<span class=\"_ _2\"></span>uch cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s is exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted to b<span class=\"_ _2\"></span>e long<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>an one<span class=\"_ _2\"></span> yea<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. The a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t is ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t and is a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ised o<span class=\"_ _2\"></span>ver the period that a customer benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> from the associated soft<span class=\"_ _2\"></span>ware technology suppor<span class=\"_ _2\"></span>ting the underlying product or ser<span class=\"_ _2\"></span>vice. The<span class=\"_ _0\"></span> Gro<span class=\"_ _2\"></span>up has e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imat<span class=\"_ _2\"></span>ed th<span class=\"_ _2\"></span>is to be b<span class=\"_ _2\"></span>etw<span class=\"_ _2\"></span>een t<span class=\"_ _2\"></span>hree a<span class=\"_ _2\"></span>nd f<span class=\"_ _2\"></span>ive ye<span class=\"_ _2\"></span>ars<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>ecognises the incremental cost of<span class=\"_ _0\"></span> obtaining a contrac<span class=\"_ _2\"></span>t as an e<span class=\"_ _0\"></span>xpense when incurred, if the amort<span class=\"_ _2\"></span>isation period is less than one year<span class=\"_ _3\"></span>.<span class=\"_ _314\"> </span>Impairment of intangible assets, including goodwill<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> is tested for<span class=\"_ _0\"></span> impairment annually.<span class=\"_ _0\"></span> Any goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span> impairment is determined<span class=\"_ _0\"></span> by assessing the recov<span class=\"_ _0\"></span>erable amount of<span class=\"_ _314\"> </span> eac<span class=\"_ _2\"></span>h CGU. W<span class=\"_ _2\"></span>hen t<span class=\"_ _2\"></span>he reco<span class=\"_ _2\"></span>vera<span class=\"_ _2\"></span>ble am<span class=\"_ _2\"></span>ount o<span class=\"_ _2\"></span>f the CG<span class=\"_ _2\"></span>U is le<span class=\"_ _2\"></span>ss t<span class=\"_ _2\"></span>han<span class=\"_ _314\"> </span> it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> an impairment loss is rec<span class=\"_ _0\"></span>ognised<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Impairmen<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span> losses relating t<span class=\"_ _0\"></span>o goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> cannot be reversed in<span class=\"_ _0\"></span> future periods.<span class=\"_ _314\"> </span>Intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are assessed for any<span class=\"_ _0\"></span> indicators of impairment at<span class=\"_ _314\"> </span> each balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> If any indication exist<span class=\"_ _2\"></span>s, or<span class=\"_ _0\"></span> when annual<span class=\"_ _314\"> </span> impairment testing for an<span class=\"_ _0\"></span> asset is required, the<span class=\"_ _0\"></span> Group est<span class=\"_ _2\"></span>imat<span class=\"_ _0\"></span>es<span class=\"_ _314\"> </span> the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. Where it is not<span class=\"_ _0\"></span> possible to<span class=\"_ _314\"> </span> estimate the recoverable amount<span class=\"_ _0\"></span> of an individual asset, the<span class=\"_ _314\"> </span> Group estimates the reco<span class=\"_ _0\"></span>verable amount of the CGU<span class=\"_ _0\"></span> to which<span class=\"_ _314\"> </span> the asset belongs.<span class=\"_ _314\"> </span>An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount<span class=\"_ _314\"> </span> of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span> losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>,<span class=\"_ _314\"> </span> amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated<span class=\"_ _314\"> </span> f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span> CGU and then t<span class=\"_ _0\"></span>o reduce the carry<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> the other assets<span class=\"_ _314\"> </span> in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Useful ec<span class=\"_ _0\"></span>onomic life and<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tisation<span class=\"_ _0\"></span> method<span class=\"_ _314\"> </span>The useful economic<span class=\"_ _0\"></span> life and amorti<span class=\"_ _2\"></span>sation method of<span class=\"_ _0\"></span> intangible as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are rev<span class=\"_ _2\"></span>iewe<span class=\"_ _2\"></span>d at eac<span class=\"_ _2\"></span>h balan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et date. I<span class=\"_ _2\"></span>f th<span class=\"_ _2\"></span>ere has b<span class=\"_ _2\"></span>een a cha<span class=\"_ _2\"></span>nge in t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted u<span class=\"_ _2\"></span>sefu<span class=\"_ _2\"></span>l econ<span class=\"_ _2\"></span>omic l<span class=\"_ _2\"></span>ife or t<span class=\"_ _2\"></span>he exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted pat<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>rn of co<span class=\"_ _2\"></span>nsump<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of fu<span class=\"_ _2\"></span>ture e<span class=\"_ _2\"></span>conom<span class=\"_ _2\"></span>ic be<span class=\"_ _2\"></span>nef<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s emb<span class=\"_ _2\"></span>odie<span class=\"_ _2\"></span>d by an a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>, t<span class=\"_ _2\"></span>hen th<span class=\"_ _2\"></span>e usef<span class=\"_ _2\"></span>ul eco<span class=\"_ _2\"></span>nom<span class=\"_ _2\"></span>ic life o<span class=\"_ _2\"></span>r amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>isa<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n met<span class=\"_ _2\"></span>hod is changed<span class=\"_ _0\"></span> accordingly<span class=\"_ _314\"> </span><span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1b1\">The Group considers the f<span class=\"_ _0\"></span>ollowing indicators, as a minimum, </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2fa\">th<span class=\"_ _2\"></span>at may sh<span class=\"_ _2\"></span>ow th<span class=\"_ _2\"></span>at th<span class=\"_ _2\"></span>e usef<span class=\"_ _2\"></span>ul eco<span class=\"_ _2\"></span>nomi<span class=\"_ _2\"></span>c life or a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>isat<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2fb\">met<span class=\"_ _2\"></span>hod o<span class=\"_ _2\"></span>f an ass<span class=\"_ _2\"></span>et may re<span class=\"_ _2\"></span>quire a c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e:</div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs1b4\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether there have<span class=\"_ _0\"></span> been any changes to<span class=\"_ _0\"></span> legal, regulatory </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls10 ws20 gs2fc\">or contractual pro<span class=\"_ _0\"></span>visions.</div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs1b6\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether there has been an<span class=\"_ _0\"></span>y experience in r<span class=\"_ _0\"></span>enewing or </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1b7\">extending related lic<span class=\"_ _0\"></span>ensing agreements.</div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs1b8\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether the effec<span class=\"_ _2\"></span>ts of obsolescence<span class=\"_ _0\"></span>, demand, competition </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1b9\">or maintenanc<span class=\"_ _0\"></span>e may impact the life of<span class=\"_ _0\"></span> the asset.</div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs2fd\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The expected future per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance of the business r<span class=\"_ _0\"></span>elated </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2fe\">to th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et.</div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs2ff\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">For purchased customer and<span class=\"_ _0\"></span> supplier relationship assets, </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs300\">th<span class=\"_ _2\"></span>e at<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>iti<span class=\"_ _2\"></span>on rat<span class=\"_ _2\"></span>e of cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>rs ve<span class=\"_ _2\"></span>rsu<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d at<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ion ra<span class=\"_ _2\"></span>tes </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs301\">set o<span class=\"_ _2\"></span>ut at a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs341\">  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff73 fs2 fc1 sc0 ls7 wsa gs342\">Proper<span class=\"_ _2\"></span>ty<span class=\"_ _0\"></span>, plant and equipment<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs343\">Pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _2\"></span>lant a<span class=\"_ _2\"></span>nd equ<span class=\"_ _2\"></span>ipm<span class=\"_ _2\"></span>ent as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d at cos<span class=\"_ _2\"></span>t les<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs344\">accumulated<span class=\"_ _0\"></span> depreciation and accumulated<span class=\"_ _0\"></span> impairment losses.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs345\">Land is not<span class=\"_ _0\"></span> depreciated. Freehold buildings, plant<span class=\"_ _0\"></span> and equipment </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs346\">are depreci<span class=\"_ _0\"></span>ated to a<span class=\"_ _0\"></span> residual value on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line basis<span class=\"_ _0\"></span> over </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs347\">their estimated useful economic lives<span class=\"_ _0\"></span> as follows:</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs348\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Fre<span class=\"_ _2\"></span>ehol<span class=\"_ _2\"></span>d buil<span class=\"_ _2\"></span>din<span class=\"_ _2\"></span>gs \u2013 30 to 5<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s</span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs349\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Pla<span class=\"_ _2\"></span>nt and e<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>pmen<span class=\"_ _2\"></span>t \u2013 3 to 20 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs21c\">Leasehold impro<span class=\"_ _0\"></span>vement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are recorded<span class=\"_ _0\"></span> at cost and depreciat<span class=\"_ _0\"></span>ed to </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs21d\">a residual<span class=\"_ _0\"></span> value over the s<span class=\"_ _0\"></span>hor<span class=\"_ _2\"></span>ter of<span class=\"_ _0\"></span> the period of the lease and<span class=\"_ _0\"></span> the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs21e\">use<span class=\"_ _2\"></span>ful e<span class=\"_ _2\"></span>conom<span class=\"_ _2\"></span>ic li<span class=\"_ _2\"></span>fe of the a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs220\">At each r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date,<span class=\"_ _0\"></span> the Group assesses whether there is an </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls48 ws3 gs34a\">ind<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n that a<span class=\"_ _2\"></span>n ass<span class=\"_ _2\"></span>et may be i<span class=\"_ _2\"></span>mpai<span class=\"_ _2\"></span>red. I<span class=\"_ _2\"></span>f any i<span class=\"_ _2\"></span>ndic<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on exi<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s, t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs34b\">Group estimates the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. The recov<span class=\"_ _0\"></span>erable </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs34c\">amount is the higher<span class=\"_ _0\"></span> of an asset\u2019s<span class=\"_ _0\"></span> fair value less costs of disposal, </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs34d\">and its value<span class=\"_ _2\"></span>-in-<span class=\"_ _2\"></span>use.<span class=\"_ _0\"></span> Where it is not possible t<span class=\"_ _0\"></span>o estimate the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs34e\">recoverable amount<span class=\"_ _0\"></span> of an individual asset, the Group estimates </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs34f\">th<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>rab<span class=\"_ _2\"></span>le amo<span class=\"_ _2\"></span>unt of t<span class=\"_ _2\"></span>he CG<span class=\"_ _2\"></span>U to whi<span class=\"_ _2\"></span>ch th<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>t belo<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs350\">An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs351\">of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls9 ws7 gs352\">losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>, </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls9 ws7 gs353\">amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs354\">f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs355\">CGU, and<span class=\"_ _0\"></span> then to reduce<span class=\"_ _0\"></span> the carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the other assets </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs356\">in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div><div class=\"t m0 h1dc ff74 fs2 fc1 sc0 ls3 ws3 gs357\">Ou<span class=\"_ _2\"></span>r tangi<span class=\"_ _2\"></span>ble asse<span class=\"_ _2\"></span>ts are p<span class=\"_ _2\"></span>roper<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y (own<span class=\"_ _2\"></span>ed and l<span class=\"_ _2\"></span>eased<span class=\"_ _2\"></span>), equi<span class=\"_ _2\"></span>pment a<span class=\"_ _2\"></span>nd </div><div class=\"t m0 h1dc ff74 fs2 fc1 sc0 ls3 ws3 gs358\">fur<span class=\"_ _2\"></span>nitu<span class=\"_ _2\"></span>re and f<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>gs. T<span class=\"_ _2\"></span>hese asse<span class=\"_ _2\"></span>ts are d<span class=\"_ _2\"></span>eprec<span class=\"_ _2\"></span>iated ov<span class=\"_ _2\"></span>er the<span class=\"_ _2\"></span>ir usefu<span class=\"_ _2\"></span>l </div><div class=\"t m0 h1dc ff74 fs2 fc1 sc0 ls17 ws81 gs359\">economic li<span class=\"_ _2\"></span>ves.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff73 fs2 fc1 sc0 ls7 wsa gs9f\">Right-of-<span class=\"_ _2\"></span>use assets (leases)<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsa0\">The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>s a rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t where i<span class=\"_ _2\"></span>t has co<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rol of </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsa1\">an as<span class=\"_ _2\"></span>set fo<span class=\"_ _2\"></span>r a peri<span class=\"_ _2\"></span>od of mo<span class=\"_ _2\"></span>re tha<span class=\"_ _2\"></span>n 12 mon<span class=\"_ _2\"></span>ths<span class=\"_ _2\"></span>. A<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s are re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs35b\">initially at cost and depreciat<span class=\"_ _0\"></span>ed on a straight-line basis over the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsa2\">shor<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> of the lease t<span class=\"_ _0\"></span>erm and the estimated useful economic lif<span class=\"_ _0\"></span>e. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsa3\">Cost is defined as the net pr<span class=\"_ _0\"></span>esent value of the initial lease<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs35c\">plus any initial costs and dilapidation pro<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>isions<span class=\"_ _0\"></span> less any lease </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsa4\">incentives received.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsa6\">The lease t<span class=\"_ _0\"></span>erm is the non-<span class=\"_ _2\"></span>cancellable t<span class=\"_ _0\"></span>erm plus any periods </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsb5\">for which<span class=\"_ _0\"></span> the Group is reasonably certain to ex<span class=\"_ _0\"></span>ercise any </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls10 ws20 gsa7\">extension options.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsa9\">Wh<span class=\"_ _2\"></span>ere a pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is n<span class=\"_ _2\"></span>o long<span class=\"_ _2\"></span>er use<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e busi<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>s or th<span class=\"_ _2\"></span>ere is </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsaa\">surplus space,<span class=\"_ _0\"></span> an impairment in the value o<span class=\"_ _0\"></span>f the right-<span class=\"_ _2\"></span>of-use asset </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs35d\">is re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised a<span class=\"_ _2\"></span>nd th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at i<span class=\"_ _2\"></span>ts e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imate<span class=\"_ _2\"></span>d </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsab\">recoverable value<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsad\">Wh<span class=\"_ _2\"></span>ere a lea<span class=\"_ _2\"></span>se is te<span class=\"_ _2\"></span>rmin<span class=\"_ _2\"></span>ated ea<span class=\"_ _2\"></span>rl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, th<span class=\"_ _2\"></span>is is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>s a disp<span class=\"_ _2\"></span>osal<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsae\">and any difference<span class=\"_ _0\"></span> in value between the asset (being the carr<span class=\"_ _2\"></span>ying </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsaf\">value of the<span class=\"_ _0\"></span> right-<span class=\"_ _2\"></span>of-use asset) and the liabilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> (being the net </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsb0\">pre<span class=\"_ _2\"></span>sent v<span class=\"_ _2\"></span>alue o<span class=\"_ _2\"></span>f fut<span class=\"_ _2\"></span>ure lea<span class=\"_ _2\"></span>se ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns) is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed as a<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsb1\">prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t or los<span class=\"_ _2\"></span>s on di<span class=\"_ _2\"></span>spos<span class=\"_ _2\"></span>al. A<span class=\"_ _2\"></span>ny pe<span class=\"_ _2\"></span>nalt<span class=\"_ _2\"></span>y fe<span class=\"_ _2\"></span>es pay<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e for ear<span class=\"_ _2\"></span>ly </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsb2\">termination are<span class=\"_ _0\"></span> recognised directl<span class=\"_ _2\"></span>y in<span class=\"_ _0\"></span> the income statement </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsb3\">as an operating expense.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs2ee\">  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2ef\">These financial assets are all r<span class=\"_ _0\"></span>ecognised at <span class=\"ff72 ls7 wsa\">fair value<span class=\"_ _0\"></span> through </span></div><div class=\"t m0 h5 ff72 fs2 fc1 sc0 ls7 wsa gs2f0\">other comprehensive inc<span class=\"_ _0\"></span>ome (F<span class=\"_ _2\"></span>V<span class=\"_ _0\"></span>OCI)<span class=\"ff71 ls3 ws3\">. S<span class=\"_ _2\"></span>ee not<span class=\"_ _2\"></span>e 17 for t<span class=\"_ _2\"></span>he </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2f1\">relevant ac<span class=\"_ _0\"></span>counting polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, specificall<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> in relation to<span class=\"_ _0\"></span>:</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs365\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls7 wsa\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> instrumen<span class=\"_ _2\"></span>ts</span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs366\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls6 ws7\">Debt instruments<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2f5\">Investment<span class=\"_ _2\"></span>s in equity inst<span class=\"_ _2\"></span>ruments and convertible debt </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2f6\">instr<span class=\"_ _2\"></span>uments (e<span class=\"_ _0\"></span>xcluding listed instrument<span class=\"_ _2\"></span>s)<span class=\"_ _0\"></span> are classif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> as Level<span class=\"_ _0\"></span> 3 </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2f7\">(of<span class=\"_ _0\"></span> the fair value hierarchy<span class=\"_ _0\"></span> describe<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> in the accounting policy of </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2f8\">note 1<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>). Lis<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s are c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s Level 1<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div>  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span>Fo<span class=\"_ _2\"></span>r <span class=\"ff75 ls7 wsa\">defined contribution schemes</span><span class=\"ls6 ws7\">,<span class=\"_ _0\"></span> the operat<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> charge </span>represents the contributions payable in the year<span class=\"_ _0\"></span> and is recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> as incurred.<span class=\"_ _314\"> </span>Fo<span class=\"_ _2\"></span>r the <span class=\"ff75 ls7 wsa\">def<span class=\"_ _2\"></span>ined benefit schemes</span><span class=\"ls6 ws7\">, the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> expense </span>is allocated between serv<span class=\"_ _2\"></span>ice<span class=\"_ _0\"></span> cost<span class=\"_ _2\"></span>, administrati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> fees and ne<span class=\"_ _0\"></span>t finance expense. The service cost represents benefit<span class=\"_ _2\"></span>s accruing to employees<span class=\"_ _0\"></span> and is included as<span class=\"_ _0\"></span> an operating expense.<span class=\"_ _314\"> </span>Cost<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> future employee benefit<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e accrued over<span class=\"_ _0\"></span> the period in which employees earn<span class=\"_ _0\"></span> the benef<span class=\"_ _2\"></span>its. Scheme obligations and costs are det<span class=\"_ _0\"></span>ermined on a regular<span class=\"_ _0\"></span> basis by an<span class=\"_ _0\"></span> independent qualif<span class=\"_ _2\"></span>ied actuar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, in line with IAS 19 <span class=\"ff78 ls4 ws80\">Employee Benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span><span class=\"ff76 ls3 ws3\">, u<span class=\"_ _2\"></span>sing t<span class=\"_ _2\"></span>he pro<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span> </span></span>unit credit me<span class=\"_ _0\"></span>tho<span class=\"_ _2\"></span>d.<span class=\"_ _0\"></span> The obligations are<span class=\"_ _0\"></span> measured by<span class=\"_ _0\"></span> discounting th<span class=\"_ _2\"></span>e bes<span class=\"_ _2\"></span>t es<span class=\"_ _2\"></span>tim<span class=\"_ _2\"></span>ate of fu<span class=\"_ _2\"></span>ture c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s to be p<span class=\"_ _2\"></span>aid ou<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e sche<span class=\"_ _2\"></span>me and are<span class=\"_ _0\"></span> reflec<span class=\"_ _2\"></span>ted in<span class=\"_ _0\"></span> the Group balance sheet.<span class=\"_ _314\"> </span>Net interest is<span class=\"_ _0\"></span> recognised within net finance costs<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> calculated by applyin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> a discount rate<span class=\"_ _0\"></span> to the net de<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>ined benefit asset or liability at the star<span class=\"_ _2\"></span>t of<span class=\"_ _0\"></span> each annual r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting period. The discount rate use<span class=\"_ _2\"></span>d is ba<span class=\"_ _2\"></span>sed on m<span class=\"_ _2\"></span>arket i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st ra<span class=\"_ _2\"></span>tes of hi<span class=\"_ _2\"></span>gh<span class=\"_ _2\"></span>-q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, f<span class=\"_ _2\"></span>ixed<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rate deb<span class=\"_ _2\"></span>t sec<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ties a<span class=\"_ _2\"></span>dju<span class=\"_ _2\"></span>sted t<span class=\"_ _2\"></span>o ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e dura<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted fu<span class=\"_ _2\"></span>ture<span class=\"_ _2\"></span> ca<span class=\"_ _2\"></span>sh out<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s for p<span class=\"_ _2\"></span>ensi<span class=\"_ _2\"></span>on ben<span class=\"_ _2\"></span>efi<span class=\"_ _2\"></span>t pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span>The net r<span class=\"_ _0\"></span>etirement benefit asset or liability recognised on the balance sheet<span class=\"_ _0\"></span> comprises the dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ence between the present value of pension<span class=\"_ _0\"></span> obligations and the fair value of<span class=\"_ _0\"></span> scheme assets.<span class=\"_ _314\"> </span>Actuarial gains and losses ar<span class=\"_ _0\"></span>e recognised at<span class=\"_ _0\"></span> each repor<span class=\"_ _2\"></span>ting date,<span class=\"_ _0\"></span> net of tax, in the statement of<span class=\"_ _0\"></span> comprehensive income. These gains and<span class=\"_ _0\"></span> losses arise from experience<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tments<span class=\"_ _2\"></span>, changes in actuarial assumptions or differences between actual and e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d retur<span class=\"_ _2\"></span>ns on a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s<div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs2ea\">  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff75 fs2 fc1 sc0 ls7 wsa gs2eb\">T<span class=\"_ _3\"></span>ra<span class=\"_ _2\"></span>de<span class=\"_ _0\"></span> receivables<span class=\"ff76 ls6 ws7\"> are initially recognised at<span class=\"_ _0\"></span> the amount of the </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs25b\">con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion t<span class=\"_ _2\"></span>hat is u<span class=\"_ _2\"></span>ncon<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>iona<span class=\"_ _2\"></span>lly d<span class=\"_ _2\"></span>ue to th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p. They a<span class=\"_ _2\"></span>re </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs25c\">sub<span class=\"_ _2\"></span>sequ<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>ly me<span class=\"_ _2\"></span>asure<span class=\"_ _2\"></span>d at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>, les<span class=\"_ _2\"></span>s any ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls5 ws5 gs25d\">credit loss (ECL).<span class=\"_ _0\"></span> Our approach to<span class=\"_ _0\"></span> calculating ECL provisions is<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs25e\">des<span class=\"_ _2\"></span>cri<span class=\"_ _2\"></span>bed in n<span class=\"_ _2\"></span>ote 17<span class=\"_ _0\"></span>. Th<span class=\"_ _2\"></span>e creat<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>nd rele<span class=\"_ _2\"></span>ase of s<span class=\"_ _2\"></span>uch pro<span class=\"_ _2\"></span>vis<span class=\"_ _2\"></span>ions<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs25f\">are r<span class=\"_ _0\"></span>ecognised in operating expenses in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff75 fs2 fc1 sc0 ls12 ws85 gs261\">Fees rec<span class=\"_ _0\"></span>eivable<span class=\"ff76 ls6 ws7\"> ar<span class=\"_ _0\"></span>e recognised when the Group<span class=\"_ _0\"></span> has an </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs262\">unconditional right<span class=\"_ _0\"></span> to conside<span class=\"_ _0\"></span>ration in ex<span class=\"_ _0\"></span>change for<span class=\"_ _0\"></span> goods </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3d1\">or se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ferre<span class=\"_ _2\"></span>d, bu<span class=\"_ _2\"></span>t no fee in<span class=\"_ _2\"></span>voice h<span class=\"_ _2\"></span>as be<span class=\"_ _2\"></span>en iss<span class=\"_ _2\"></span>ued<span class=\"_ _2\"></span>. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs263\">Amount<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e transferred to trade rece<span class=\"_ _0\"></span>iv<span class=\"_ _2\"></span>ables<span class=\"_ _0\"></span> when an invoice </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 lsf ws48 gs264\">has been<span class=\"_ _0\"></span> issued.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff75 fs2 fc1 sc0 ls7 wsa gs37e\">Other receivables<span class=\"ff76 ls6 ws7\"> are initially rec<span class=\"_ _0\"></span>ognised at fair value and </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f2\">subsequently at amor<span class=\"_ _2\"></span>tised cost, less any loss allowanc<span class=\"_ _0\"></span>e as </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f3\">described in note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f5\">Wh<span class=\"_ _2\"></span>en a rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble is n<span class=\"_ _2\"></span>o lon<span class=\"_ _2\"></span>ger ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted to b<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>red, t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f6\">fu<span class=\"_ _2\"></span>ll amo<span class=\"_ _2\"></span>unt is w<span class=\"_ _2\"></span>ri<span class=\"_ _2\"></span>tte<span class=\"_ _2\"></span>n of<span class=\"_ _2\"></span>f. We wil<span class=\"_ _2\"></span>l cont<span class=\"_ _2\"></span>inu<span class=\"_ _2\"></span>e to seek r<span class=\"_ _2\"></span>ecover<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>nd </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f7\">any subsequent amounts recov<span class=\"_ _0\"></span>ered against amounts previously </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f8\">writ<span class=\"_ _2\"></span>ten off are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3d2\">Se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>6.<span class=\"_ _2\"></span>2 for th<span class=\"_ _2\"></span>e <span class=\"ff75 ls7 wsa\">net in<span class=\"_ _0\"></span>vestment in leases<span class=\"ff76 ls6 ws7\"> accounting policy<span class=\"_ _0\"></span>, </span></span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3d3\">wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let<span class=\"_ _2\"></span>s prop<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts to a </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3d4\">third part<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs3d5\">The Group<span class=\"_ _0\"></span> has a tax i<span class=\"_ _0\"></span>ndemnit<span class=\"_ _2\"></span>y agr<span class=\"_ _0\"></span>eement with Thomson Reute<span class=\"_ _0\"></span>rs </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3d6\">for any<span class=\"_ _0\"></span> tax liabilities incurred and tax rece<span class=\"_ _0\"></span>iv<span class=\"_ _2\"></span>ables<span class=\"_ _0\"></span> due before </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3d7\">Refinit<span class=\"_ _2\"></span>iv (previously the Thomson R<span class=\"_ _0\"></span>euters Financial &amp; Risk </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3d8\">Business) separated fr<span class=\"_ _0\"></span>om Thomson Reuters on 1<span class=\"_ _0\"></span> Oc<span class=\"_ _2\"></span>tober 2<span class=\"_ _0\"></span>018<span class=\"_ _2\"></span>. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws65 gs3d9\">The <span class=\"ff75 ls5 ws5\">tax indemnity receivable<span class=\"ff76\"> is<span class=\"_ _0\"></span> recognised for<span class=\"_ _0\"></span> and measured </span></span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3da\">on the same basis<span class=\"_ _0\"></span> as the corresponding indemnified tax liabilities<span class=\"_ _2\"></span>. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3db\">The indemnified tax liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are recognised within current<span class=\"_ _0\"></span> ta<span class=\"_ _2\"></span>x </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3dc\">payable in the balanc<span class=\"_ _0\"></span>e sheet. When there is a<span class=\"_ _0\"></span> change in the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3dd\">indemnif<span class=\"_ _2\"></span>ied tax li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies, which<span class=\"_ _0\"></span> is recognised within tax in the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3de\">income statement, there is an<span class=\"_ _0\"></span> of<span class=\"_ _2\"></span>fsett<span class=\"_ _2\"></span>ing change<span class=\"_ _0\"></span> in the tax </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3df\">indemnit<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>eceivable. (<span class=\"_ _2\"></span>The tax indemnity payable is described </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3e0\">in no<span class=\"_ _2\"></span>te 15.)<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff75 fs2 fc1 sc0 ls7 wsa gs3e1\">Contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"ff76 ls3 ws3\"> are reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has a con<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>al </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs3e2\">right to<span class=\"_ _0\"></span> consideration from<span class=\"_ _0\"></span> a customer in<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> for goods </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3e3\">or serv<span class=\"_ _2\"></span>ices<span class=\"_ _0\"></span> trans<span class=\"_ _2\"></span>ferred.<span class=\"_ _0\"></span> Cont<span class=\"_ _2\"></span>ract assets are transferred to </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3e4\">trade receivables when the entitlement to payment becomes </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3e5\">unc<span class=\"_ _2\"></span>ondi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>onal an<span class=\"_ _2\"></span>d onl<span class=\"_ _2\"></span>y the p<span class=\"_ _2\"></span>ass<span class=\"_ _2\"></span>age of t<span class=\"_ _2\"></span>ime i<span class=\"_ _2\"></span>s requ<span class=\"_ _2\"></span>ired be<span class=\"_ _2\"></span>fore </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls5 ws5 gs3e6\">payment is due<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m2 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs2dd\">  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff75 fs2 fc1 sc0 ls5 ws5 gs2de\">T<span class=\"_ _3\"></span>rade payables<span class=\"ff76 ls7 wsa\"> are<span class=\"_ _0\"></span> initiall<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>ecognised at fair value, which is </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2df\">usually the amount invoic<span class=\"_ _0\"></span>ed. They are s<span class=\"_ _0\"></span>ubsequent<span class=\"_ _2\"></span>ly measured </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3ed\">at amort<span class=\"_ _2\"></span>ised c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff75 fs2 fc1 sc0 ls3e ws5b gs2e1\">Accrued expenses<span class=\"ff76 ls6 ws7\"> are r<span class=\"_ _0\"></span>ecognised for goods and<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2e2\">rece<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>d before t<span class=\"_ _2\"></span>he en<span class=\"_ _2\"></span>d of the y<span class=\"_ _2\"></span>ear for w<span class=\"_ _2\"></span>hich n<span class=\"_ _2\"></span>o invo<span class=\"_ _2\"></span>ice has<span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3ee\">be<span class=\"_ _2\"></span>en rece<span class=\"_ _2\"></span>ived<span class=\"_ _2\"></span>. They a<span class=\"_ _2\"></span>re mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>t amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t. </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls46 ws7 gs2e4\">Payables include the <span class=\"ff75\">T<span class=\"_ _3\"></span>radeweb tax rec<span class=\"_ _0\"></span>eivable agreement liability<span class=\"_ _0\"></span><span class=\"ff76 ls4 ws3\">. </span></span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e5\">In connection wi<span class=\"_ _2\"></span>th T<span class=\"_ _3\"></span>radeweb\u2019<span class=\"_ _0\"></span>s initial public o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fering (IPO), </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2e6\">T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>deweb e<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>d into a t<span class=\"_ _2\"></span>ax rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>greem<span class=\"_ _2\"></span>ent w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e7\">owners of T<span class=\"_ _3\"></span>radeweb Markets LL<span class=\"_ _0\"></span>C (the \u201cLLC<span class=\"_ _0\"></span> Ow<span class=\"_ _2\"></span>ners\u201d) immediately </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs2e8\">prior to<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>s IPO. Under<span class=\"_ _0\"></span> the agreement, T<span class=\"_ _3\"></span>radeweb is </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3ef\">req<span class=\"_ _2\"></span>uired t<span class=\"_ _2\"></span>o make ca<span class=\"_ _2\"></span>sh pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to t<span class=\"_ _2\"></span>he LLC Ow<span class=\"_ _2\"></span>ner<span class=\"_ _2\"></span>s equa<span class=\"_ _2\"></span>l to 50%<span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2e9\">of t<span class=\"_ _2\"></span>he amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny ta<span class=\"_ _2\"></span>x sav<span class=\"_ _2\"></span>ings t<span class=\"_ _2\"></span>hat T<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>adewe<span class=\"_ _2\"></span>b reali<span class=\"_ _2\"></span>ses as a r<span class=\"_ _2\"></span>esul<span class=\"_ _2\"></span>t </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2ea\">of cer<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ain f<span class=\"_ _2\"></span>utu<span class=\"_ _2\"></span>re tax b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>ts to w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>t is en<span class=\"_ _2\"></span>tit<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>d. The Trade<span class=\"_ _2\"></span>web </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2eb\">tax receivable agreement liability is measured<span class=\"_ _0\"></span> at amor<span class=\"_ _2\"></span>tised cost.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs25c\">A<span class=\"_ _2\"></span>s desc<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ed in no<span class=\"_ _2\"></span>te 13, t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup ha<span class=\"_ _2\"></span>s a tax i<span class=\"_ _2\"></span>ndem<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>greem<span class=\"_ _2\"></span>ent </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs25d\">wi<span class=\"_ _2\"></span>th Th<span class=\"_ _2\"></span>oms<span class=\"_ _2\"></span>on Reu<span class=\"_ _2\"></span>ters<span class=\"_ _2\"></span>. The G<span class=\"_ _2\"></span>roup h<span class=\"_ _2\"></span>as a <span class=\"ff75 ls6 ws7\">tax indemnity payable</span><span class=\"ls4\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs25e\">to Th<span class=\"_ _2\"></span>omso<span class=\"_ _2\"></span>n Reute<span class=\"_ _2\"></span>rs a<span class=\"_ _2\"></span>gains<span class=\"_ _2\"></span>t a ma<span class=\"_ _2\"></span>tchin<span class=\"_ _2\"></span>g tax re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>vabl<span class=\"_ _2\"></span>e whi<span class=\"_ _2\"></span>ch is </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs25f\">recognised within current tax r<span class=\"_ _0\"></span>eceivabl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> in the balance sheet. </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs260\">The t<span class=\"_ _2\"></span>ax in<span class=\"_ _2\"></span>dem<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>y pa<span class=\"_ _2\"></span>yabl<span class=\"_ _2\"></span>e is mea<span class=\"_ _2\"></span>sure<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e same b<span class=\"_ _2\"></span>asis a<span class=\"_ _2\"></span>s </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs261\">the indemnif<span class=\"_ _2\"></span>ied tax r<span class=\"_ _0\"></span>eceivable. When there is a<span class=\"_ _0\"></span> change in the </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs262\">ind<span class=\"_ _2\"></span>emn<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied t<span class=\"_ _2\"></span>ax rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble, w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>s reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n tax i<span class=\"_ _2\"></span>n </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3d1\">the income statement, there is an<span class=\"_ _0\"></span> of<span class=\"_ _2\"></span>fsett<span class=\"_ _2\"></span>ing ch<span class=\"_ _0\"></span>ange in the tax </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs263\">indemnit<span class=\"_ _2\"></span>y payable.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs265\">The Group<span class=\"_ _0\"></span> has granted<span class=\"_ _0\"></span> a put option to<span class=\"_ _0\"></span> non-<span class=\"_ _2\"></span>controlling<span class=\"_ _0\"></span> interest </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs266\">hol<span class=\"_ _2\"></span>der<span class=\"_ _2\"></span>s of LS<span class=\"_ _2\"></span>EG PT<span class=\"_ _2\"></span>S Hol<span class=\"_ _2\"></span>ding<span class=\"_ _2\"></span>s Limi<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span>. The <span class=\"ff75 lsc ws41\">put option liabilit<span class=\"_ _2\"></span>y </span></div><div class=\"t m2 h5 ff75 fs2 fc1 sc0 ls7 wsa gs267\">for non-<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ontrolling interests\u2019 shares<span class=\"ff76\"> is r<span class=\"_ _0\"></span>ecognised init<span class=\"_ _2\"></span>ially at </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsc6\">the present value<span class=\"_ _0\"></span> of the expected redemption amount, wi<span class=\"_ _2\"></span>th the </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gsc7\">cor<span class=\"_ _2\"></span>resp<span class=\"_ _2\"></span>ondi<span class=\"_ _2\"></span>ng cha<span class=\"_ _2\"></span>rge to eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y at<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>uta<span class=\"_ _2\"></span>ble to t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y\u2019s </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsc8\">equit<span class=\"_ _2\"></span>y holders. The liability is subsequently remeasured, with </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsc9\">the unwinding of the disc<span class=\"_ _0\"></span>ount recognised as a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> cost and </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsca\">changes in the e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>ted r<span class=\"_ _0\"></span>edempt<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> amount recognised in </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gscb\">prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t or los<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gsa7\">  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gsa8\">Bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ings a<span class=\"_ _2\"></span>re ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e fair v<span class=\"_ _2\"></span>alu<span class=\"_ _2\"></span>e of amou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsa9\">received, net<span class=\"_ _0\"></span> of capitalised direc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> issue cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> arrangement </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsaa\">fees (including upfr<span class=\"_ _0\"></span>ont facilit<span class=\"_ _2\"></span>y fees<span class=\"_ _0\"></span>). </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsab\">Subsequentl<span class=\"_ _2\"></span>y<span class=\"_ _3\"></span>, these liabilities are carried at amort<span class=\"_ _2\"></span>ised c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gsac\">In<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t pay<span class=\"_ _2\"></span>able o<span class=\"_ _2\"></span>n bor<span class=\"_ _2\"></span>rowin<span class=\"_ _2\"></span>gs, d<span class=\"_ _2\"></span>irec<span class=\"_ _2\"></span>t is<span class=\"_ _2\"></span>sue co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s and<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsad\">arrangement fees (including upfront<span class=\"_ _0\"></span> facilit<span class=\"_ _2\"></span>y fees<span class=\"_ _0\"></span>) are r<span class=\"_ _0\"></span>ecognised </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsae\">in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> over the period of<span class=\"_ _0\"></span> the borrowings using </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsaf\">the effec<span class=\"_ _2\"></span>tive interest method.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gsb1\">Wh<span class=\"_ _2\"></span>ere bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ings a<span class=\"_ _2\"></span>re iden<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed as a he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item i<span class=\"_ _2\"></span>n a desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsb2\">fair value hedge r<span class=\"_ _0\"></span>elationship, fair value adjustments are </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsb3\">recognised in<span class=\"_ _0\"></span> accordance with our policy (see not<span class=\"_ _0\"></span>e 17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs2d9\">  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls6 ws7 gs2da\">Group as lessee<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2db\">When the Group leases an<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> at the lease commencement </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2dc\">date a r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sset i<span class=\"_ _2\"></span>s recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d for t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>sed i<span class=\"_ _2\"></span>tem (se<span class=\"_ _2\"></span>e </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2dd\">note 1<span class=\"_ _2\"></span>0) a<span class=\"_ _2\"></span>nd a lea<span class=\"_ _2\"></span>se lia<span class=\"_ _2\"></span>bili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for a<span class=\"_ _2\"></span>ny lea<span class=\"_ _2\"></span>se pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2de\">to be p<span class=\"_ _2\"></span>aid ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ease te<span class=\"_ _2\"></span>rm.<span class=\"_ _314\"> </span></div><div class=\"t m0 h1dc ff78 fs2 fc1 sc0 ls7 wsa gs3ed\">L<span class=\"_ _0\"></span>ease liabilities<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e0\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are recognised at<span class=\"_ _0\"></span> the net present value<span class=\"_ _0\"></span> of the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2e1\">rema<span class=\"_ _2\"></span>inin<span class=\"_ _2\"></span>g fu<span class=\"_ _2\"></span>ture pa<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nts t<span class=\"_ _2\"></span>o be mad<span class=\"_ _2\"></span>e over t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>se ter<span class=\"_ _2\"></span>m.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3ee\">The net pr<span class=\"_ _0\"></span>esent value is det<span class=\"_ _0\"></span>ermined using a discount<span class=\"_ _0\"></span> rate </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e3\">equivalent to the incremental<span class=\"_ _0\"></span> borrowing rate of the leasing<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e4\">entit<span class=\"_ _2\"></span>y unless there<span class=\"_ _0\"></span> is a rate implicit within the lease<span class=\"_ _0\"></span> agreement<span class=\"_ _2\"></span>. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e5\">Subsequentl<span class=\"_ _2\"></span>y<span class=\"_ _3\"></span>, the amount of lease liabilities is<span class=\"_ _0\"></span> increased to </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2e6\">ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he acc<span class=\"_ _2\"></span>retio<span class=\"_ _2\"></span>n of inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t and red<span class=\"_ _2\"></span>uced fo<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ease<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs2e7\">payments made.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3ef\">The Group leases<span class=\"_ _0\"></span> many proper<span class=\"_ _2\"></span>ties ar<span class=\"_ _0\"></span>ound the world and lease </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2e9\">ter<span class=\"_ _2\"></span>ms var<span class=\"_ _2\"></span>y f<span class=\"_ _2\"></span>rom mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>ly up t<span class=\"_ _2\"></span>o 15 year<span class=\"_ _2\"></span>s. M<span class=\"_ _2\"></span>any of t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e leas<span class=\"_ _2\"></span>es </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2ea\">contain option clauses t<span class=\"_ _0\"></span>o extend the lease or br<span class=\"_ _0\"></span>eak clauses to </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2eb\">terminate<span class=\"_ _0\"></span> the lease. The lease t<span class=\"_ _0\"></span>erm recognised is the<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs25b\">ca<span class=\"_ _2\"></span>ncell<span class=\"_ _2\"></span>able p<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>od of t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>se plu<span class=\"_ _2\"></span>s any pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>ds for w<span class=\"_ _2\"></span>hich t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs25c\">Group is r<span class=\"_ _0\"></span>easonably cer<span class=\"_ _2\"></span>tain of<span class=\"_ _0\"></span> exercising<span class=\"_ _0\"></span> any extension options. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs25d\">The Group values<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s right-of-<span class=\"_ _2\"></span>use assets and lease<span class=\"_ _0\"></span> liabilities based </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs25e\">on its intentions at the balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> Any change in these </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs25f\">intentions is<span class=\"_ _0\"></span> accounted<span class=\"_ _0\"></span> for as<span class=\"_ _0\"></span> a lease modification and the asse<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs260\">and liabilities are<span class=\"_ _0\"></span> amended accordingly<span class=\"_ _0\"></span>. Any resulting effec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> on </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs261\">th<span class=\"_ _2\"></span>e net as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p woul<span class=\"_ _2\"></span>d not b<span class=\"_ _2\"></span>e signi<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ican<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3d1\">V<span class=\"_ _0\"></span>ariable lease payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> based on an index<span class=\"_ _0\"></span> are estimated at the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs263\">commencement dat<span class=\"_ _0\"></span>e and revalued<span class=\"_ _0\"></span> on an annual basis.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs265\">Leas<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s du<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>hin 12 m<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>hs are c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s curr<span class=\"_ _2\"></span>ent </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs266\">liabilities. Payment<span class=\"_ _2\"></span>s due<span class=\"_ _0\"></span> af<span class=\"_ _2\"></span>ter 1<span class=\"_ _0\"></span>2 months are classified as </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs267\">non-<span class=\"_ _2\"></span>current liabilities.<span class=\"_ _314\"> </span></div><div class=\"t m0 h1dc ff78 fs2 fc1 sc0 ls3 ws3 gsc7\">Sho<span class=\"_ _2\"></span>rt-<span class=\"_ _2\"></span>term l<span class=\"_ _2\"></span>eases an<span class=\"_ _2\"></span>d lease<span class=\"_ _2\"></span>s of low val<span class=\"_ _2\"></span>ue asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gsc8\">Ren<span class=\"_ _2\"></span>tal co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s for le<span class=\"_ _2\"></span>ased a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>hat are fo<span class=\"_ _2\"></span>r les<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>n 12 mon<span class=\"_ _2\"></span>ths </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gsc9\">or ar<span class=\"_ _2\"></span>e for ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>h an in<span class=\"_ _2\"></span>div<span class=\"_ _2\"></span>idu<span class=\"_ _2\"></span>al val<span class=\"_ _2\"></span>ue of le<span class=\"_ _2\"></span>ss th<span class=\"_ _2\"></span>an \u00a35<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 are </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsca\">recognised directly in the income statement on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gscb\">bas<span class=\"_ _2\"></span>is over t<span class=\"_ _2\"></span>he li<span class=\"_ _2\"></span>fe of th<span class=\"_ _2\"></span>e leas<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls6 ws7 gs2ee\">Group as lessor<span class=\"_ _314\"> </span></div><div class=\"t m0 h1dc ff78 fs2 fc1 sc0 ls3e ws5b gs2ef\">Finance leases<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f0\">Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let<span class=\"_ _2\"></span>s a prop<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>t for </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f1\">sub<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ant<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y all t<span class=\"_ _2\"></span>he use<span class=\"_ _2\"></span>ful li<span class=\"_ _2\"></span>fe of th<span class=\"_ _2\"></span>at ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, thi<span class=\"_ _2\"></span>s is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed as </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs37e\">a finance lease. On<span class=\"_ _0\"></span> commencement of a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> sub<span class=\"_ _2\"></span>-lease, the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f2\">pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y ri<span class=\"_ _2\"></span>ght-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _2\"></span>se ass<span class=\"_ _2\"></span>et is t<span class=\"_ _2\"></span>reated a<span class=\"_ _2\"></span>s dis<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d of and a n<span class=\"_ _2\"></span>et </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f3\">investment in lease, equivalent to<span class=\"_ _0\"></span> the net present value<span class=\"_ _0\"></span> of the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f4\">fu<span class=\"_ _2\"></span>ture re<span class=\"_ _2\"></span>nt rece<span class=\"_ _2\"></span>ipt<span class=\"_ _2\"></span>s, is re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as a rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble on t<span class=\"_ _2\"></span>he ba<span class=\"_ _2\"></span>lance<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f5\">she<span class=\"_ _2\"></span>et (se<span class=\"_ _2\"></span>e note 13<span class=\"_ _2\"></span>). Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>e val<span class=\"_ _2\"></span>ue of th<span class=\"_ _2\"></span>e recei<span class=\"_ _2\"></span>pt<span class=\"_ _2\"></span>s from t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f6\">sub-<span class=\"_ _2\"></span>lease is<span class=\"_ _0\"></span> lower than the amount payable on<span class=\"_ _0\"></span> the head-<span class=\"_ _2\"></span>lease, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f7\">we rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>se a los<span class=\"_ _2\"></span>s on di<span class=\"_ _2\"></span>spos<span class=\"_ _2\"></span>al of t<span class=\"_ _2\"></span>he rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-us<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et in th<span class=\"_ _2\"></span>e </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f8\">income statement<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h1dc ff78 fs2 fc1 sc0 ls17 ws81 gs451\">Ope<span class=\"_ _2\"></span>rating leases<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs452\">A ri<span class=\"_ _2\"></span>ght-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _2\"></span>se ass<span class=\"_ _2\"></span>et tha<span class=\"_ _2\"></span>t is sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let fo<span class=\"_ _2\"></span>r les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d usef<span class=\"_ _2\"></span>ul </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs453\">li<span class=\"_ _2\"></span>fe is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed as a<span class=\"_ _2\"></span>n oper<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng lea<span class=\"_ _2\"></span>se and r<span class=\"_ _2\"></span>enta<span class=\"_ _2\"></span>l inco<span class=\"_ _2\"></span>me is </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs454\">reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed as re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>ved in ot<span class=\"_ _2\"></span>her i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e. We cont<span class=\"_ _2\"></span>inue t<span class=\"_ _2\"></span>o recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs455\">the proper<span class=\"_ _2\"></span>ty right-<span class=\"_ _2\"></span>of-use asset on<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs2d0\">  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls6 ws7 gs2d1\">Recognition and<span class=\"_ _0\"></span> measurement<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff75 fs2 fc1 sc0 lsc ws41 gs2d2\">Financial assets and financial liabilities<span class=\"ff76 ls7 wsa\"> are initially recognised at </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls46 ws7 gs2d3\">fair value.<span class=\"_ _0\"></span> The Group classif<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s financial instrument<span class=\"_ _2\"></span>s at: amort<span class=\"_ _2\"></span>ised </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2d4\">cost; fair value through other comprehens<span class=\"_ _0\"></span>ive income (F<span class=\"_ _2\"></span>V<span class=\"_ _0\"></span>OCI<span class=\"_ _2\"></span>); </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2d5\">or f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue t<span class=\"_ _2\"></span>hroug<span class=\"_ _2\"></span>h prof<span class=\"_ _2\"></span>it o<span class=\"_ _2\"></span>r los<span class=\"_ _2\"></span>s (F<span class=\"_ _2\"></span>VP<span class=\"_ _2\"></span>L). Th<span class=\"_ _2\"></span>e clas<span class=\"_ _2\"></span>sif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on of </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2d6\">financial asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> depends on the Group\u2019<span class=\"_ _0\"></span>s business model for<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2d7\">managing its f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments and whether or not<span class=\"_ _0\"></span> the cash </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs472\">flow<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> generated are \u201csolely payments of principal and<span class=\"_ _0\"></span> interest\u201d.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls7 wsa gs2d9\">Financial assets</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs473\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> cost<span class=\"ff76 ls6 ws7\"> are financial assets that </span></span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs474\">are h<span class=\"_ _2\"></span>eld in o<span class=\"_ _2\"></span>rder to co<span class=\"_ _2\"></span>lle<span class=\"_ _2\"></span>ct t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s and t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls48 ws3 gs475\">con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual ter<span class=\"_ _2\"></span>ms gi<span class=\"_ _2\"></span>ve ri<span class=\"_ _2\"></span>se to ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>lows t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>re sole<span class=\"_ _2\"></span>ly pa<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs476\">of principal and<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> These include: cash and<span class=\"_ _0\"></span> cash </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs477\">equivalent<span class=\"_ _2\"></span>s; r<span class=\"_ _0\"></span>eceivables; clearing member trading balances </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs478\">relating to<span class=\"_ _0\"></span> cer<span class=\"_ _2\"></span>tain collat<span class=\"_ _0\"></span>eralised transac<span class=\"_ _2\"></span>tions; and other </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs479\">receivables from clearing<span class=\"_ _0\"></span> member<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the CCP businesses.</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs47a\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls3\">Fin<span class=\"_ _2\"></span>ancia<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts at F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I \u2013 debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rume<span class=\"_ _2\"></span>nts</span><span class=\"ls6 ws7\"> are assets where </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws72 gs47b\">th<span class=\"_ _2\"></span>e obje<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive i<span class=\"_ _2\"></span>s achi<span class=\"_ _2\"></span>eved by b<span class=\"_ _2\"></span>oth c<span class=\"_ _2\"></span>olle<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual c<span class=\"_ _2\"></span>ash </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs47c\">flow<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and selling the asset. The contractual cash f<span class=\"_ _2\"></span>lows r<span class=\"_ _0\"></span>eceived </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs47d\">are solely payments of principal and<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> They include </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs47e\">quoted de<span class=\"_ _0\"></span>bt instrument<span class=\"_ _2\"></span>s (pr<span class=\"_ _0\"></span>edominantly government bonds<span class=\"_ _0\"></span>) </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs47f\">held by the<span class=\"_ _0\"></span> CCP businesses, which are used<span class=\"_ _0\"></span> under the business </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs480\">mo<span class=\"_ _2\"></span>del to bo<span class=\"_ _2\"></span>th co<span class=\"_ _2\"></span>llec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s and, o<span class=\"_ _2\"></span>n </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs481\">occ<span class=\"_ _2\"></span>asio<span class=\"_ _2\"></span>n, to pr<span class=\"_ _2\"></span>ofi<span class=\"_ _2\"></span>t fro<span class=\"_ _2\"></span>m the<span class=\"_ _2\"></span>ir sal<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs482\">Interest received<span class=\"_ _0\"></span> from CCP businesses\u2019<span class=\"_ _0\"></span> clearing member </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs483\">financial asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> is recognised in the<span class=\"_ _0\"></span> income statement as </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs484\">net treasury income. Where<span class=\"_ _0\"></span> negati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> interest rates apply<span class=\"_ _0\"></span>, the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs485\">int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed as t<span class=\"_ _2\"></span>reas<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>y exp<span class=\"_ _2\"></span>ense w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin ne<span class=\"_ _2\"></span>t trea<span class=\"_ _2\"></span>sur<span class=\"_ _2\"></span>y </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs486\">inc<span class=\"_ _2\"></span>ome. A<span class=\"_ _2\"></span>ny accu<span class=\"_ _2\"></span>mula<span class=\"_ _2\"></span>ted pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t or lo<span class=\"_ _2\"></span>ss pre<span class=\"_ _2\"></span>viou<span class=\"_ _2\"></span>sly r<span class=\"_ _2\"></span>ecog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs487\">in other comprehens<span class=\"_ _0\"></span>ive income is r<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>ycled t<span class=\"_ _0\"></span>o the income </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs488\">st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent o<span class=\"_ _2\"></span>n derec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et.</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs489\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls7 wsa\">Financial assets at FVOCI \u2013<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y instruments<span class=\"ff76\"> are strategic </span></span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs48a\">eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y in<span class=\"_ _2\"></span>vest<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h are hel<span class=\"_ _2\"></span>d for th<span class=\"_ _2\"></span>e long t<span class=\"_ _2\"></span>erm bu<span class=\"_ _2\"></span>t do no<span class=\"_ _2\"></span>t </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs48b\">gi<span class=\"_ _2\"></span>ve th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p cont<span class=\"_ _2\"></span>rol or s<span class=\"_ _2\"></span>igni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t inf<span class=\"_ _2\"></span>lue<span class=\"_ _2\"></span>nce. Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs48c\">irrevocably elected to classify these invest<span class=\"_ _2\"></span>ments as FVOCI.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs48d\">Dividend<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> received from these inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tments are r<span class=\"_ _0\"></span>ecognised in </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs48e\">the income statement as<span class=\"_ _0\"></span> income from equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ments when </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs48f\">the right of r<span class=\"_ _0\"></span>eceipt has been established. Accumulat<span class=\"_ _0\"></span>ed gains or </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs490\">losses on equity ins<span class=\"_ _2\"></span>truments remain in<span class=\"_ _0\"></span> equi<span class=\"_ _2\"></span>ty on derecognition </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs491\">and are<span class=\"_ _0\"></span> not recycled through the income statement.</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs492\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at FVPL</span><span class=\"ls6 ws7\"> include all other financial assets </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs493\">not c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t or F<span class=\"_ _2\"></span>VOCI<span class=\"_ _2\"></span>. Th<span class=\"_ _2\"></span>ey incl<span class=\"_ _2\"></span>ude CC<span class=\"_ _2\"></span>P </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs494\">businesses\u2019 clearing<span class=\"_ _0\"></span> member trading balances including </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs495\">der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ves, a<span class=\"_ _2\"></span>s well a<span class=\"_ _2\"></span>s equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y and d<span class=\"_ _2\"></span>ebt in<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t are </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs496\">mar<span class=\"_ _2\"></span>ked to ma<span class=\"_ _2\"></span>rket on a da<span class=\"_ _2\"></span>ily b<span class=\"_ _2\"></span>asis<span class=\"_ _314\"> </span><span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls7 wsa gs498\">Financial liabilities</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs499\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial liabilities at FVPL</span><span class=\"ls6 ws7\"> include the CCP<span class=\"_ _0\"></span> businesses\u2019 </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs49a\">clearing member trading balances, including<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives, as </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs49b\">wel<span class=\"_ _2\"></span>l as equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>at are ma<span class=\"_ _2\"></span>rked to ma<span class=\"_ _2\"></span>rket </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs49c\">on a da<span class=\"_ _2\"></span>ily b<span class=\"_ _2\"></span>asis<span class=\"_ _2\"></span>.</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs49d\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial liabilities at amortised cost</span><span class=\"ls6 ws7\"> are all<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs49e\">liabilities that are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> at F<span class=\"_ _2\"></span>VPL. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs49f\">They include pa<span class=\"_ _0\"></span>yables<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> borrowings and other payables to </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4a0\">clearing members.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls6 ws18 gs4a1\">Impairment<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4a2\">The Group adopts a f<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>ward-<span class=\"_ _2\"></span>looking approach<span class=\"_ _0\"></span> to estimating </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4a3\">impairment losses on financial assets. An expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> credit loss </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4a4\">(E<span class=\"_ _2\"></span>CL) a<span class=\"_ _2\"></span>rise<span class=\"_ _2\"></span>s if th<span class=\"_ _2\"></span>e cas<span class=\"_ _2\"></span>h fl<span class=\"_ _2\"></span>ows t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to recei<span class=\"_ _2\"></span>ve are </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4a5\">low<span class=\"_ _2\"></span>er tha<span class=\"_ _2\"></span>n the c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>tua<span class=\"_ _2\"></span>l cash f<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>ows du<span class=\"_ _2\"></span>e, or are d<span class=\"_ _2\"></span>elaye<span class=\"_ _2\"></span>d. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4a6\">The d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>fere<span class=\"_ _2\"></span>nce is di<span class=\"_ _2\"></span>scou<span class=\"_ _2\"></span>nted a<span class=\"_ _2\"></span>t the a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>\u2019s ori<span class=\"_ _2\"></span>gina<span class=\"_ _2\"></span>l ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4a7\">interest rate<span class=\"_ _0\"></span> and recognised as an<span class=\"_ _0\"></span> impairment of the original </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4a8\">val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>.</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs4a9\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> cost<span class=\"ff76 ls3 ws3\"> \u2013 t<span class=\"_ _2\"></span>he ECL fo<span class=\"_ _2\"></span>r tr<span class=\"_ _2\"></span>ade </span></span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4aa\">receivables (including fees<span class=\"_ _0\"></span> receivable), contract asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4ab\">lease receivables is<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>ved<span class=\"_ _0\"></span> using the simplif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> approach </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4ac\">in I<span class=\"_ _2\"></span>FRS 9 <span class=\"ff78 ls3e ws5b\">Financial Inst<span class=\"_ _2\"></span>ruments</span> to cal<span class=\"_ _2\"></span>cula<span class=\"_ _2\"></span>te a lifet<span class=\"_ _2\"></span>ime E<span class=\"_ _2\"></span>CL.<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4ad\">The allowance<span class=\"_ _0\"></span> is based on historical experience o<span class=\"_ _0\"></span>f collect<span class=\"_ _2\"></span>ion </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4ae\">ra<span class=\"_ _2\"></span>tes, a<span class=\"_ _2\"></span>djus<span class=\"_ _2\"></span>ted fo<span class=\"_ _2\"></span>r for<span class=\"_ _2\"></span>ward<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>loo<span class=\"_ _2\"></span>king f<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s spec<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ic to ea<span class=\"_ _2\"></span>ch </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4af\">counterpart<span class=\"_ _2\"></span>y and the economic<span class=\"_ _0\"></span> environment at large,<span class=\"_ _0\"></span> to creat<span class=\"_ _0\"></span>e </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4b0\">an ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted l<span class=\"_ _2\"></span>oss m<span class=\"_ _2\"></span>atr<span class=\"_ _2\"></span>ix.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4b1\">The ECL on o<span class=\"_ _0\"></span>ther f<span class=\"_ _2\"></span>inancial assets held at<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tised cost is </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4b2\">measured using<span class=\"_ _0\"></span> the general approach. An allowance<span class=\"_ _0\"></span> is </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4b3\">ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated ba<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>n the 12-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>th EC<span class=\"_ _2\"></span>L at ea<span class=\"_ _2\"></span>ch repo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4b4\">unless there is<span class=\"_ _0\"></span> a signif<span class=\"_ _2\"></span>icant incr<span class=\"_ _0\"></span>ease in the financial instrumen<span class=\"_ _2\"></span>t\u2019<span class=\"_ _0\"></span>s </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4b5\">cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>, in whi<span class=\"_ _2\"></span>ch ca<span class=\"_ _2\"></span>se a los<span class=\"_ _2\"></span>s allo<span class=\"_ _2\"></span>wanc<span class=\"_ _2\"></span>e base<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e lifet<span class=\"_ _2\"></span>ime<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls5 ws5 gs4b6\">ECL is calculat<span class=\"_ _0\"></span>ed.</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs4b7\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls3\">Fin<span class=\"_ _2\"></span>ancia<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts at F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I \u2013 debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rume<span class=\"_ _2\"></span>nts</span><span class=\"ls5 ws5\"> comprise </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4b8\">hig<span class=\"_ _2\"></span>h-<span class=\"_ _2\"></span>qu<span class=\"_ _2\"></span>ali<span class=\"_ _2\"></span>ty g<span class=\"_ _2\"></span>over<span class=\"_ _2\"></span>nmen<span class=\"_ _2\"></span>t bon<span class=\"_ _2\"></span>ds th<span class=\"_ _2\"></span>at have a l<span class=\"_ _2\"></span>ow cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk.<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4b9\">The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s p<span class=\"_ _2\"></span>olic<span class=\"_ _2\"></span>y is to c<span class=\"_ _2\"></span>alcu<span class=\"_ _2\"></span>late a 12-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>th EC<span class=\"_ _2\"></span>L on th<span class=\"_ _2\"></span>ese </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4ba\">as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s. If t<span class=\"_ _2\"></span>here i<span class=\"_ _2\"></span>s a sign<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>nt inc<span class=\"_ _2\"></span>reas<span class=\"_ _2\"></span>e in cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk, t<span class=\"_ _2\"></span>hen a<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4bb\">li<span class=\"_ _2\"></span>fetim<span class=\"_ _2\"></span>e ECL w<span class=\"_ _2\"></span>ill b<span class=\"_ _2\"></span>e recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d. A si<span class=\"_ _2\"></span>gnif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant i<span class=\"_ _2\"></span>ncrea<span class=\"_ _2\"></span>se in cre<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs23f\">ri<span class=\"_ _2\"></span>sk is con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>red to ha<span class=\"_ _2\"></span>ve occu<span class=\"_ _2\"></span>rred w<span class=\"_ _2\"></span>hen co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual p<span class=\"_ _2\"></span>aym<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs240\">are m<span class=\"_ _2\"></span>ore th<span class=\"_ _2\"></span>an 30 da<span class=\"_ _2\"></span>ys pa<span class=\"_ _2\"></span>st du<span class=\"_ _2\"></span>e.</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs1b3\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls7 wsa\">Financial assets at FVOCI \u2013<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y instruments<span class=\"ff76 ls3 ws3\"> and </span><span class=\"lsc ws6f\">f<span class=\"_ _2\"></span>inancial </span></span></div><div class=\"t m0 h5 ff75 fs2 fc1 sc0 ls3 ws3 gs4bc\">ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s at FV<span class=\"_ _2\"></span>PL \u2013 <span class=\"ff76 ls6 ws7\">not subject to impairment.<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4bd\">The Group writes off a financial asset when there<span class=\"_ _0\"></span> is no reasonable </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4be\">exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f recove<span class=\"_ _2\"></span>ring t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls7 ws66 gs246\">Of<span class=\"_ _2\"></span>fsettin<span class=\"_ _2\"></span>g<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs247\">Financial assets and financial liabilities are o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset and the net<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs248\">amount reported in the balance<span class=\"_ _0\"></span> sheet when there is<span class=\"_ _0\"></span> a legally </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs249\">enforceable<span class=\"_ _0\"></span> right to offset the recognised amounts and there is </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs24a\">an in<span class=\"_ _2\"></span>tent<span class=\"_ _2\"></span>ion to s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle o<span class=\"_ _2\"></span>n a net ba<span class=\"_ _2\"></span>sis, o<span class=\"_ _2\"></span>r to real<span class=\"_ _2\"></span>ise t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et and<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs24b\">sett<span class=\"_ _2\"></span>le the<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y simultaneously.<span class=\"_ _314\"> </span></div>Fair value hierarchy<span class=\"_ _314\"> </span>The Group uses<span class=\"_ _0\"></span> the following valuation hierarchy f<span class=\"_ _0\"></span>or determining and disclosing the fair<span class=\"_ _0\"></span> value of financial instrument<span class=\"_ _2\"></span>s: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Level 1<span class=\"_ _2\"></span>: quot<span class=\"_ _2\"></span>ed (una<span class=\"_ _2\"></span>djus<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span>) pri<span class=\"_ _2\"></span>ces in a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive m<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s for </span>identical asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> or liabilities <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls7 wsa\">Level<span class=\"_ _0\"></span> 2: other techniques for<span class=\"_ _0\"></span> which all input<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> which have </span>a sig<span class=\"_ _2\"></span>nif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>n the re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e are obs<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vab<span class=\"_ _2\"></span>le, either direct<span class=\"_ _2\"></span>ly or<span class=\"_ _0\"></span> indirec<span class=\"_ _2\"></span>tly <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls7 wsa\">Level<span class=\"_ _0\"></span> 3: techniques which use inputs, which have a significant </span>ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t on t<span class=\"_ _2\"></span>he reco<span class=\"_ _2\"></span>rde<span class=\"_ _2\"></span>d fair v<span class=\"_ _2\"></span>alue, t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>re not ba<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>n obser<span class=\"_ _2\"></span>vable mark<span class=\"_ _0\"></span>et data<span class=\"_ _314\"> </span>Fo<span class=\"_ _2\"></span>r Level 1<span class=\"_ _2\"></span>, the f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue i<span class=\"_ _2\"></span>s base<span class=\"_ _2\"></span>d on mar<span class=\"_ _2\"></span>ket pri<span class=\"_ _2\"></span>ce quo<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ions<span class=\"_ _2\"></span> at t<span class=\"_ _2\"></span>he rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date.<span class=\"_ _314\"> </span>For assets and liabilities classif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> as Level<span class=\"_ _0\"></span> 2, the fair value<span class=\"_ _0\"></span> is ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated us<span class=\"_ _2\"></span>ing on<span class=\"_ _2\"></span>e or mo<span class=\"_ _2\"></span>re valu<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on tech<span class=\"_ _2\"></span>niqu<span class=\"_ _2\"></span>es (e.g<span class=\"_ _2\"></span>., the<span class=\"_ _2\"></span> market<span class=\"_ _0\"></span> approach or the income<span class=\"_ _0\"></span> approach) with market<span class=\"_ _0\"></span> obser<span class=\"_ _2\"></span>vable input<span class=\"_ _2\"></span>s. The<span class=\"_ _0\"></span> selec<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> the appropriate valuation techniques ma<span class=\"_ _0\"></span>y be affec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> by the availabilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> and reliability of the relevant inputs. The inputs may include currency rates, int<span class=\"_ _0\"></span>erest rates, forward rate cur<span class=\"_ _2\"></span>ves, and<span class=\"_ _0\"></span> net asset values.<span class=\"_ _314\"> </span>When obser<span class=\"_ _2\"></span>vable mark<span class=\"_ _0\"></span>et data is not<span class=\"_ _0\"></span> available, the Group uses<span class=\"_ _0\"></span> one or more valuation techniques f<span class=\"_ _0\"></span>or which suf<span class=\"_ _2\"></span>ficient and reliable data is available.<span class=\"_ _0\"></span> The input<span class=\"_ _2\"></span>s used<span class=\"_ _0\"></span> in estimat<span class=\"_ _2\"></span>ing the<span class=\"_ _0\"></span> fair value of L<span class=\"_ _0\"></span>evel 3 financial inst<span class=\"_ _2\"></span>ruments t<span class=\"_ _2\"></span>ypically include expected timing and amount of future cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>lows, timing of se<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>tlement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> discount rates and<span class=\"_ _0\"></span> the net asset values<span class=\"_ _0\"></span> of certain invest<span class=\"_ _2\"></span>ments.<span class=\"_ _314\"> </span>The Group det<span class=\"_ _0\"></span>ermines whether a transfer between levels has occurred by<span class=\"_ _0\"></span> reviewing the categorisation of assets and liabilities at t<span class=\"_ _2\"></span>he end o<span class=\"_ _2\"></span>f each re<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ing pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d, bas<span class=\"_ _2\"></span>ed on t<span class=\"_ _2\"></span>he lo<span class=\"_ _2\"></span>west l<span class=\"_ _2\"></span>evel input that is signific<span class=\"_ _2\"></span>ant t<span class=\"_ _0\"></span>o the valuation.<span class=\"_ _314\"> </span>Derivative financial instrument<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> hedging ac<span class=\"_ _2\"></span>tivities<span class=\"_ _314\"> </span>De<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ves are i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue on t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te a derivative contrac<span class=\"_ _2\"></span>t is<span class=\"_ _0\"></span> entered into<span class=\"_ _0\"></span> and are subsequently remeasured<span class=\"_ _0\"></span> to their fair value<span class=\"_ _0\"></span> at regular intervals. The method of rec<span class=\"_ _0\"></span>ognising any resulting measurement<span class=\"_ _0\"></span> gain or loss depends on w<span class=\"_ _2\"></span>heth<span class=\"_ _2\"></span>er or n<span class=\"_ _2\"></span>ot the d<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>vat<span class=\"_ _2\"></span>ive i<span class=\"_ _2\"></span>s desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d as a he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g instr<span class=\"_ _2\"></span>ument and<span class=\"_ _0\"></span> the nature of<span class=\"_ _0\"></span> the item being hedged.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p uses fo<span class=\"_ _2\"></span>reign e<span class=\"_ _2\"></span>xchang<span class=\"_ _2\"></span>e for<span class=\"_ _2\"></span>war<span class=\"_ _2\"></span>d cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to man<span class=\"_ _2\"></span>age i<span class=\"_ _2\"></span>ts fore<span class=\"_ _2\"></span>ign exch<span class=\"_ _2\"></span>ange r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>. It en<span class=\"_ _2\"></span>ters i<span class=\"_ _2\"></span>nto a se<span class=\"_ _2\"></span>ries o<span class=\"_ _2\"></span>f exchan<span class=\"_ _2\"></span>ge con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s to purc<span class=\"_ _0\"></span>hase or sell certain currencies against sterling and US<span class=\"_ _0\"></span> do<span class=\"_ _2\"></span>llar<span class=\"_ _2\"></span>s in th<span class=\"_ _2\"></span>e fut<span class=\"_ _2\"></span>ure at f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d amou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has em<span class=\"_ _2\"></span>bed<span class=\"_ _2\"></span>ded foreign<span class=\"_ _0\"></span> currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives, primarily in re<span class=\"_ _0\"></span>venue contrac<span class=\"_ _2\"></span>ts where th<span class=\"_ _2\"></span>e cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t is d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>feren<span class=\"_ _2\"></span>t from t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>unc<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal or<span class=\"_ _2\"></span> local currencies of<span class=\"_ _0\"></span> the par<span class=\"_ _2\"></span>ties involved. The Group<span class=\"_ _0\"></span> records these derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments at fair value in<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _0\"></span> as either assets or liabilities.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p hedg<span class=\"_ _2\"></span>es a pro<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of i<span class=\"_ _2\"></span>ts n<span class=\"_ _2\"></span>et inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment i<span class=\"_ _2\"></span>n forei<span class=\"_ _2\"></span>gn subsidiaries by<span class=\"_ _0\"></span> designating some borrowings and derivative financial inst<span class=\"_ _2\"></span>ruments as net in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ment hedges. Any gain<span class=\"_ _0\"></span> or loss on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g ins<span class=\"_ _2\"></span>tru<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t relat<span class=\"_ _2\"></span>ing to t<span class=\"_ _2\"></span>he ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e hedge is rec<span class=\"_ _0\"></span>ognised in other comprehensive inc<span class=\"_ _0\"></span>ome and remains in the hedging r<span class=\"_ _0\"></span>eser<span class=\"_ _2\"></span>ve until disposal of<span class=\"_ _0\"></span> the subsidiar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>As par<span class=\"_ _2\"></span>t of<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s interest rate<span class=\"_ _0\"></span> management polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> (see note 17<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>5),<span class=\"_ _0\"></span> the Group enters into derivative financial inst<span class=\"_ _2\"></span>ruments to con<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>t a por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f it<span class=\"_ _2\"></span>s fi<span class=\"_ _2\"></span>xed ra<span class=\"_ _2\"></span>te debt i<span class=\"_ _2\"></span>nto f<span class=\"_ _2\"></span>loa<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g rate d<span class=\"_ _2\"></span>ebt<span class=\"_ _2\"></span>. These derivative inst<span class=\"_ _2\"></span>ruments have been design<span class=\"_ _0\"></span>ated as fair value he<span class=\"_ _2\"></span>dges<span class=\"_ _2\"></span>. The c<span class=\"_ _2\"></span>arr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing v<span class=\"_ _2\"></span>alue of t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item i<span class=\"_ _2\"></span>s adju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d for fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue chan<span class=\"_ _2\"></span>ges a<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>able to t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk bei<span class=\"_ _2\"></span>ng he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d, wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he corresponding entr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> recorded in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>. Changes in fair value<span class=\"_ _0\"></span> of the derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments are also recognised in<span class=\"_ _0\"></span> the income statement<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In o<span class=\"_ _2\"></span>rder to q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>y for he<span class=\"_ _2\"></span>dge ac<span class=\"_ _2\"></span>count<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>, a tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t meet str<span class=\"_ _2\"></span>ict criteria regar<span class=\"_ _0\"></span>ding documentat<span class=\"_ _2\"></span>ion, e<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fecti<span class=\"_ _2\"></span>veness, pr<span class=\"_ _0\"></span>obabilit<span class=\"_ _2\"></span>y of occurrenc<span class=\"_ _0\"></span>e and reliability of measurement. W<span class=\"_ _0\"></span>e document the relationship between hedging instrument<span class=\"_ _2\"></span>s and hedged items<span class=\"_ _0\"></span> at the inception of<span class=\"_ _0\"></span> the tr<span class=\"_ _2\"></span>ansaction, as well as<span class=\"_ _0\"></span> document<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> the risk management object<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> and st<span class=\"_ _2\"></span>rategy f<span class=\"_ _0\"></span>or under<span class=\"_ _2\"></span>taking various hedging transac<span class=\"_ _2\"></span>tions. The effect<span class=\"_ _2\"></span>iveness of<span class=\"_ _0\"></span> the hedge is tested at each r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date and<span class=\"_ _0\"></span> at the commencement and<span class=\"_ _0\"></span> conclusion of an<span class=\"_ _2\"></span>y hedg<span class=\"_ _2\"></span>e in ord<span class=\"_ _2\"></span>er to ver<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>y t<span class=\"_ _2\"></span>hat it c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>inue<span class=\"_ _2\"></span>s to sat<span class=\"_ _2\"></span>isf<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>ll th<span class=\"_ _2\"></span>e cr<span class=\"_ _2\"></span>iter<span class=\"_ _2\"></span>ia for he<span class=\"_ _2\"></span>dge a<span class=\"_ _2\"></span>ccoun<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g. An<span class=\"_ _2\"></span>y inef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive po<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is recognised in<span class=\"_ _0\"></span> the income statement as finance income or expense.<span class=\"_ _314\"> </span>Amount<span class=\"_ _2\"></span>s that<span class=\"_ _0\"></span> have accumulat<span class=\"_ _0\"></span>ed through other comprehensive income in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> are recognised in<span class=\"_ _0\"></span> the income st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent in t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d whe<span class=\"_ _2\"></span>n the h<span class=\"_ _2\"></span>edge<span class=\"_ _2\"></span>d ite<span class=\"_ _2\"></span>m af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ts p<span class=\"_ _2\"></span>rof<span class=\"_ _2\"></span>it or<span class=\"_ _2\"></span> los<span class=\"_ _2\"></span>s (fo<span class=\"_ _2\"></span>r examp<span class=\"_ _2\"></span>le, wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e forec<span class=\"_ _2\"></span>ast t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>nsac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion th<span class=\"_ _2\"></span>at is he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d takes plac<span class=\"_ _0\"></span>e). When a<span class=\"_ _0\"></span> hedging ins<span class=\"_ _2\"></span>trument expires<span class=\"_ _0\"></span> or is sold, or when a hedge no<span class=\"_ _0\"></span> longer meets the criteria for hedge ac<span class=\"_ _0\"></span>counting<span class=\"_ _2\"></span>, any cumulative gain<span class=\"_ _0\"></span> or loss remains in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>: it is only recognised<span class=\"_ _0\"></span> in the income statement when the f<span class=\"_ _0\"></span>orecas<span class=\"_ _2\"></span>t transac<span class=\"_ _2\"></span>tion itself is ultimately recognised in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>. Wh<span class=\"_ _2\"></span>en a fore<span class=\"_ _2\"></span>cas<span class=\"_ _2\"></span>t tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>s no lon<span class=\"_ _2\"></span>ger ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>o occur, the cumulative gain or<span class=\"_ _0\"></span> loss that was reported through other comprehensive inc<span class=\"_ _0\"></span>ome is immediately recognised<span class=\"_ _0\"></span> in the income statement.<span class=\"_ _314\"> </span>The g<span class=\"_ _2\"></span>ain or l<span class=\"_ _2\"></span>oss o<span class=\"_ _2\"></span>n a der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>e whic<span class=\"_ _2\"></span>h is not d<span class=\"_ _2\"></span>esig<span class=\"_ _2\"></span>nate<span class=\"_ _2\"></span>d as a hedging instr<span class=\"_ _2\"></span>ument<span class=\"_ _0\"></span> is recognised directly in the income statement<span class=\"_ _314\"> </span>.<div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs261\">  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs262\">The Group r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ts f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> on a net </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3d1\">basis on the balanc<span class=\"_ _0\"></span>e sheet where<span class=\"_ _0\"></span> there is a legally enf<span class=\"_ _0\"></span>orceable </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs263\">right to o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset the recognised amounts and there<span class=\"_ _0\"></span> is an intention </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs264\">to set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>le on a n<span class=\"_ _2\"></span>et basi<span class=\"_ _2\"></span>s, or to r<span class=\"_ _2\"></span>ealis<span class=\"_ _2\"></span>e the a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d set<span class=\"_ _2\"></span>tl<span class=\"_ _2\"></span>e the<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs265\">liabilities simultaneousl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs267\">The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p appl<span class=\"_ _2\"></span>ies t<span class=\"_ _2\"></span>he rul<span class=\"_ _2\"></span>es of le<span class=\"_ _2\"></span>gal r<span class=\"_ _2\"></span>ight o<span class=\"_ _2\"></span>f set of<span class=\"_ _2\"></span>f an<span class=\"_ _2\"></span>d inten<span class=\"_ _2\"></span>t to </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsc6\">net settle wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s clearing member<span class=\"_ _0\"></span> balances. The carr<span class=\"_ _2\"></span>ying </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsc7\">values of the<span class=\"_ _0\"></span> balances are o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset at an<span class=\"_ _0\"></span> appropriate level<span class=\"_ _0\"></span> to arrive </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsc8\">at the net<span class=\"_ _0\"></span> balances reported in the balance<span class=\"_ _0\"></span> sheet<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The approach </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gsc9\">ado<span class=\"_ _2\"></span>pted i<span class=\"_ _2\"></span>s revi<span class=\"_ _2\"></span>ewed on a r<span class=\"_ _2\"></span>egul<span class=\"_ _2\"></span>ar bas<span class=\"_ _2\"></span>is to ens<span class=\"_ _2\"></span>ure it re<span class=\"_ _2\"></span>main<span class=\"_ _2\"></span>s the<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f7\">most appropriate. Any ch<span class=\"_ _0\"></span>ange in approach would<span class=\"_ _0\"></span> not materially </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f8\">af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he net as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs260\">  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws65 gs2ec\">The <span class=\"ff75 lsc ws41\">share capital</span><span class=\"ws3\"> of t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y is th<span class=\"_ _2\"></span>e numb<span class=\"_ _2\"></span>er of sh<span class=\"_ _2\"></span>ares in i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2ed\">at their par<span class=\"_ _0\"></span> value. It consist<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of balances r<span class=\"_ _0\"></span>elating to the Company\u2019s </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2ee\">ordinar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y shares, own<span class=\"_ _0\"></span> shares held by<span class=\"_ _0\"></span> the Employee Benefit </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2ef\">T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st an<span class=\"_ _2\"></span>d any t<span class=\"_ _2\"></span>reasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y share<span class=\"_ _2\"></span>s held by t<span class=\"_ _2\"></span>he C<span class=\"_ _2\"></span>ompa<span class=\"_ _2\"></span>ny<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f1\">Sha<span class=\"_ _2\"></span>res acq<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>d by the C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e open m<span class=\"_ _2\"></span>arket a<span class=\"_ _2\"></span>s par<span class=\"_ _2\"></span>t of </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs37e\">sha<span class=\"_ _2\"></span>re buy<span class=\"_ _2\"></span>bac<span class=\"_ _2\"></span>k prog<span class=\"_ _2\"></span>ram<span class=\"_ _2\"></span>mes are re<span class=\"_ _2\"></span>ferred t<span class=\"_ _2\"></span>o as tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y sh<span class=\"_ _2\"></span>ares a<span class=\"_ _2\"></span>nd </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f2\">are h<span class=\"_ _2\"></span>eld by t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Th<span class=\"_ _2\"></span>e consi<span class=\"_ _2\"></span>der<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>n paya<span class=\"_ _2\"></span>ble i<span class=\"_ _2\"></span>s dedu<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ed </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f3\">fro<span class=\"_ _2\"></span>m reta<span class=\"_ _2\"></span>ined e<span class=\"_ _2\"></span>arni<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>. The pa<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of pur<span class=\"_ _2\"></span>chase<span class=\"_ _2\"></span>d tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f4\">sha<span class=\"_ _2\"></span>res is re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d as a tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>fer fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e Comp<span class=\"_ _2\"></span>any<span class=\"_ _2\"></span>\u2019s ordi<span class=\"_ _2\"></span>nar<span class=\"_ _2\"></span>y </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f5\">eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res to t<span class=\"_ _2\"></span>reasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y share<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>hin s<span class=\"_ _2\"></span>hare ca<span class=\"_ _2\"></span>pit<span class=\"_ _2\"></span>al. N<span class=\"_ _2\"></span>o gain o<span class=\"_ _2\"></span>r </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f6\">los<span class=\"_ _2\"></span>s is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed by t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>ny in th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent on t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f7\">pur<span class=\"_ _2\"></span>chas<span class=\"_ _2\"></span>e, sale<span class=\"_ _2\"></span>, issu<span class=\"_ _2\"></span>e or ca<span class=\"_ _2\"></span>ncell<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on of th<span class=\"_ _2\"></span>e Com<span class=\"_ _2\"></span>pany<span class=\"_ _2\"></span>\u2019s tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f8\">sha<span class=\"_ _2\"></span>res or of o<span class=\"_ _2\"></span>wn sha<span class=\"_ _2\"></span>res hel<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Empl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it Trus<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3d9\">When the Company issues new<span class=\"_ _0\"></span> shares to<span class=\"_ _0\"></span> the Employee Benefit </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3da\">T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st at p<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>, t<span class=\"_ _2\"></span>he sha<span class=\"_ _2\"></span>re cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l of the C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any is i<span class=\"_ _2\"></span>ncrea<span class=\"_ _2\"></span>sed by t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3db\">par value of<span class=\"_ _0\"></span> these own shares, and<span class=\"_ _0\"></span> a corresponding deduction </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3dc\">or debit is r<span class=\"_ _0\"></span>ecorded in the shar<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-based payment reserve.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls48 ws3 gs6d4\">The C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any may a<span class=\"_ _2\"></span>lso i<span class=\"_ _2\"></span>ssue n<span class=\"_ _2\"></span>ew shar<span class=\"_ _2\"></span>es to th<span class=\"_ _2\"></span>e Empl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs6d5\">T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>ust to<span class=\"_ _0\"></span> satis<span class=\"_ _2\"></span>fy vest<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> of specif<span class=\"_ _2\"></span>ic employ<span class=\"_ _0\"></span>ee share schemes. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs6d6\">The<span class=\"_ _2\"></span>se sha<span class=\"_ _2\"></span>res may b<span class=\"_ _2\"></span>e issu<span class=\"_ _2\"></span>ed at a s<span class=\"_ _2\"></span>ubsc<span class=\"_ _2\"></span>ript<span class=\"_ _2\"></span>ion p<span class=\"_ _2\"></span>rice a<span class=\"_ _2\"></span>bove pa<span class=\"_ _2\"></span>r </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs6d7\">value, re<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>lectin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> the option cost payable by the participant in the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs6d8\">employee shar<span class=\"_ _0\"></span>e scheme. In such<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ances,<span class=\"_ _0\"></span> the share capital of </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs6d9\">the Company is incr<span class=\"_ _0\"></span>eased by the par value<span class=\"_ _0\"></span> of these own shar<span class=\"_ _0\"></span>es </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3e3\">and the difference between the subscription price and<span class=\"_ _0\"></span> the par </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs3e4\">value is<span class=\"_ _0\"></span> recorded in<span class=\"_ _0\"></span> share<span class=\"_ _0\"></span> premium. A c<span class=\"_ _0\"></span>orresponding deduction </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3e5\">or debit is r<span class=\"_ _0\"></span>ecognised in the share-based payment reser<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span></div>Accounting policy<span class=\"_ _314\"> </span>Non-<span class=\"_ _2\"></span>controlli<span class=\"_ _0\"></span>ng interests<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>ecognises non-<span class=\"_ _2\"></span>controlling interests in a business<span class=\"_ _0\"></span> eit<span class=\"_ _2\"></span>her at fair value<span class=\"_ _0\"></span> or at the non-<span class=\"_ _2\"></span>controlling<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>s proport<span class=\"_ _2\"></span>ionate<span class=\"_ _0\"></span> share of t<span class=\"_ _2\"></span>he net a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s. T<span class=\"_ _2\"></span>his t<span class=\"_ _2\"></span>reat<span class=\"_ _2\"></span>ment i<span class=\"_ _2\"></span>s deter<span class=\"_ _2\"></span>min<span class=\"_ _2\"></span>ed on a t<span class=\"_ _2\"></span>rans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n-<span class=\"_ _314\"> </span>by-tr<span class=\"_ _2\"></span>ansaction basis. Af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> init<span class=\"_ _2\"></span>ial<span class=\"_ _0\"></span> recognition, the carr<span class=\"_ _2\"></span>ying value of the non-<span class=\"_ _2\"></span>controlling inter<span class=\"_ _0\"></span>est is adjusted for any<span class=\"_ _0\"></span> changes in equit<span class=\"_ _2\"></span>y and the total<span class=\"_ _0\"></span> comprehensive income attribu<span class=\"_ _2\"></span>table t<span class=\"_ _0\"></span>o the non-<span class=\"_ _314\"> </span>controlling inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> holder<span class=\"_ _2\"></span>s, less dividends paid.<span class=\"_ _314\"> </span>Change in the<span class=\"_ _0\"></span> ownership interest of a<span class=\"_ _0\"></span> subsidiar<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>ompany<span class=\"_ _0\"></span>, wi<span class=\"_ _2\"></span>thou<span class=\"_ _2\"></span>t los<span class=\"_ _2\"></span>s of cont<span class=\"_ _2\"></span>rol<span class=\"_ _314\"> </span>For acquisitions or disposals of<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-controlling interests where con<span class=\"_ _2\"></span>trol o<span class=\"_ _2\"></span>f the s<span class=\"_ _2\"></span>ubsi<span class=\"_ _2\"></span>diar<span class=\"_ _2\"></span>y rem<span class=\"_ _2\"></span>ains w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p, the d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>feren<span class=\"_ _2\"></span>ce bet<span class=\"_ _2\"></span>we<span class=\"_ _2\"></span>en any c<span class=\"_ _2\"></span>onsi<span class=\"_ _2\"></span>dera<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n paid o<span class=\"_ _2\"></span>r recei<span class=\"_ _2\"></span>ved<span class=\"_ _2\"></span>, and t<span class=\"_ _2\"></span>he rele<span class=\"_ _2\"></span>vant<span class=\"_ _2\"></span> sha<span class=\"_ _2\"></span>re of net a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s acq<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>d or sol<span class=\"_ _2\"></span>d, is re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised i<span class=\"_ _2\"></span>n equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>The Group issues<span class=\"_ _0\"></span> equi<span class=\"_ _2\"></span>ty-<span class=\"_ _2\"></span>settled share-<span class=\"_ _2\"></span>based awards<span class=\"_ _0\"></span> to certain employees. The shar<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-based payment expense recognised in<span class=\"_ _0\"></span> the income statement is de<span class=\"_ _0\"></span>termined by the fair value<span class=\"_ _0\"></span> (using a stochastic val<span class=\"_ _2\"></span>uat<span class=\"_ _2\"></span>ion mo<span class=\"_ _2\"></span>del<span class=\"_ _2\"></span>) of th<span class=\"_ _2\"></span>e opt<span class=\"_ _2\"></span>ions g<span class=\"_ _2\"></span>rant<span class=\"_ _2\"></span>ed or sh<span class=\"_ _2\"></span>ares aw<span class=\"_ _2\"></span>arde<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e date of<span class=\"_ _0\"></span> grant<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The calculated expenses ar<span class=\"_ _0\"></span>e recognised over the relevant v<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ting periods.<span class=\"_ _314\"> </span>The f<span class=\"_ _2\"></span>air v<span class=\"_ _2\"></span>alue of t<span class=\"_ _2\"></span>he aw<span class=\"_ _2\"></span>ards g<span class=\"_ _2\"></span>rant<span class=\"_ _2\"></span>ed: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Includes any mark<span class=\"_ _0\"></span>et per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance conditions (for example,<span class=\"_ _0\"></span> </span>T<span class=\"_ _3\"></span>otal Shareholder Return (TSR)).  <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Excludes the impact of any service and non-mar<span class=\"_ _2\"></span>k<span class=\"_ _0\"></span>et </span>per<span class=\"_ _2\"></span>formanc<span class=\"_ _0\"></span>e vesting condit<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> (for example,<span class=\"_ _0\"></span> the need to rem<span class=\"_ _2\"></span>ain an e<span class=\"_ _2\"></span>mplo<span class=\"_ _2\"></span>yee for a s<span class=\"_ _2\"></span>peci<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ied pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d of tim<span class=\"_ _2\"></span>e).<span class=\"_ _314\"> </span>In t<span class=\"_ _2\"></span>he ver<span class=\"_ _2\"></span>y fe<span class=\"_ _2\"></span>w count<span class=\"_ _2\"></span>rie<span class=\"_ _2\"></span>s whe<span class=\"_ _2\"></span>re the G<span class=\"_ _2\"></span>roup c<span class=\"_ _2\"></span>ann<span class=\"_ _2\"></span>ot iss<span class=\"_ _2\"></span>ue equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y-<span class=\"_ _314\"> </span>sett<span class=\"_ _2\"></span>led a<span class=\"_ _0\"></span>wards due to<span class=\"_ _0\"></span> loc<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> restr<span class=\"_ _2\"></span>ictions, cash<span class=\"_ _2\"></span>-sett<span class=\"_ _2\"></span>led shar<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-based awa<span class=\"_ _2\"></span>rds are i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d ins<span class=\"_ _2\"></span>tead<span class=\"_ _314\"> </span><span class=\"_ _2\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-472": {
   "value": "<div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls2 ws2 gs68\">1.1<span class=\"_ _0\"></span> Compliance with International Financial<span class=\"_ _0\"></span> Repor<span class=\"_ _2\"></span>ting </div><div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls4 ws2b gs69\">Standards (IFRS)<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs6a\">The Group\u2019<span class=\"_ _0\"></span>s consolidated<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatements have<span class=\"_ _0\"></span> been </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs6b\">properly prepared in<span class=\"_ _0\"></span> accordance with United Kingdom adopted </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs6c\">international accounting standards.<span class=\"_ _314\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:StatementOfIFRSCompliance",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-474": {
   "value": "<div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls51 ws73 gs6e\">1.<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span> Basis of preparation<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs6f\">The financial statement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are prepared<span class=\"_ _0\"></span> under the historical cost </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs70\">basis ex<span class=\"_ _0\"></span>cept for<span class=\"_ _0\"></span> cer<span class=\"_ _2\"></span>tain clearing member<span class=\"_ _0\"></span> balances, derivati<span class=\"_ _2\"></span>ve </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs71\">financial inst<span class=\"_ _2\"></span>ruments, debt and equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls10 ws20 gs72\">contingent cons<span class=\"_ _0\"></span>ideration, which are<span class=\"_ _0\"></span> measured a<span class=\"_ _0\"></span>t fair value<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls22 ws3 gs73\">Go<span class=\"_ _2\"></span>ing conce<span class=\"_ _2\"></span>rn<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs74\">The financial statement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> have been prepar<span class=\"_ _0\"></span>ed on a going </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls11 ws8f gs75\">concer<span class=\"_ _2\"></span>n basis.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs76\">The Group\u2019<span class=\"_ _0\"></span>s business activ<span class=\"_ _2\"></span>ities (together with the factor<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> likely </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs77\">to af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t i<span class=\"_ _2\"></span>ts f<span class=\"_ _2\"></span>utu<span class=\"_ _2\"></span>re devel<span class=\"_ _2\"></span>opm<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>, per<span class=\"_ _2\"></span>fo<span class=\"_ _2\"></span>rman<span class=\"_ _2\"></span>ce and p<span class=\"_ _2\"></span>osit<span class=\"_ _2\"></span>ion)<span class=\"_ _2\"></span>, it<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs78\">object<span class=\"_ _2\"></span>ives, policies in<span class=\"_ _0\"></span> managing risk and its capital are set<span class=\"_ _0\"></span> out </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs79\">in t<span class=\"_ _2\"></span>he St<span class=\"_ _2\"></span>rate<span class=\"_ _2\"></span>gic Rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t on pa<span class=\"_ _2\"></span>ges 1 to 5<span class=\"_ _2\"></span>6. In a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n:</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs7a\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">the Group\u2019<span class=\"_ _0\"></span>s borrowing facilities and respective repayment </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs7b\">dates, and the<span class=\"_ _0\"></span> net debt position of the Group<span class=\"_ _0\"></span>, are included </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs7c\">in no<span class=\"_ _2\"></span>te 16; a<span class=\"_ _2\"></span>nd</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs7d\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">the financial risk management objecti<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> and policies of </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs7e\">th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p, toge<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r wit<span class=\"_ _2\"></span>h it<span class=\"_ _2\"></span>s exp<span class=\"_ _2\"></span>osure t<span class=\"_ _2\"></span>o capi<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>l, cred<span class=\"_ _2\"></span>it an<span class=\"_ _2\"></span>d </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls46 ws7 gs7f\">concentration, countr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, liquidit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, se<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>tlement, cus<span class=\"_ _2\"></span>todial<span class=\"_ _0\"></span> and </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs80\">market risk<span class=\"_ _2\"></span>, are d<span class=\"_ _2\"></span>iscu<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>d in note 1<span class=\"_ _2\"></span>7<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>5.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs81\">Business planning process<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs82\">The Group\u2019<span class=\"_ _0\"></span>s for<span class=\"_ _0\"></span>ecas<span class=\"_ _2\"></span>ting and planning<span class=\"_ _0\"></span> process includes the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls9 ws7 gs83\">Group\u2019<span class=\"_ _0\"></span>s three-<span class=\"_ _2\"></span>year<span class=\"_ _0\"></span> business plan. The business plan<span class=\"_ _0\"></span> makes certain </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs84\">assumptions about the per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> of the core<span class=\"_ _0\"></span> revenue streams </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs85\">and segments, the use of existing product lines and the tak<span class=\"_ _0\"></span>e up </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs86\">of new<span class=\"_ _0\"></span> produc<span class=\"_ _2\"></span>t li<span class=\"_ _0\"></span>nes. It also makes<span class=\"_ _0\"></span> assumption<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on appropriate </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs87\">levels of<span class=\"_ _0\"></span> investm<span class=\"_ _2\"></span>ent<span class=\"_ _0\"></span> to suppor<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted performance, known </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs88\">inorganic activ<span class=\"_ _2\"></span>ity,<span class=\"_ _0\"></span> the abilit<span class=\"_ _2\"></span>y to<span class=\"_ _0\"></span> refinance debt as r<span class=\"_ _0\"></span>equired and </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs89\">expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed returns to<span class=\"_ _0\"></span> shareholders.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls51 ws73 gs8a\">Performance management<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs8b\">The Group\u2019<span class=\"_ _0\"></span>s performance is analysed monthly by management. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs8c\">Monthl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> result<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are reviewed<span class=\"_ _0\"></span> and compared against the business </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs8d\">pla<span class=\"_ _2\"></span>n, an<span class=\"_ _2\"></span>d prev<span class=\"_ _2\"></span>ious a<span class=\"_ _2\"></span>nd up<span class=\"_ _2\"></span>dated f<span class=\"_ _2\"></span>ull<span class=\"_ _2\"></span>-ye<span class=\"_ _2\"></span>ar fore<span class=\"_ _2\"></span>cas<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>re als<span class=\"_ _2\"></span>o </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs8e\">assessed. Key<span class=\"_ _0\"></span> variances and associated drivers are<span class=\"_ _0\"></span> reviewed </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls10 ws20 gs8f\">and re<span class=\"_ _0\"></span>por<span class=\"_ _2\"></span>ted upon.<span class=\"_ _314\"> </span></div>Cash flows and liq<span class=\"_ _0\"></span>uidit<span class=\"_ _2\"></span>y h<span class=\"_ _0\"></span>eadroom<span class=\"_ _314\"> </span>When per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>orming our going concern<span class=\"_ _0\"></span> asses<span class=\"_ _2\"></span>sment, the main<span class=\"_ _0\"></span> fac<span class=\"_ _2\"></span>tors con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>red are fo<span class=\"_ _2\"></span>reca<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s cash f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>w and li<span class=\"_ _2\"></span>quid<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y headroom (de<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>ined as<span class=\"_ _0\"></span> undrawn commit<span class=\"_ _2\"></span>ted facilities less issued commercial<span class=\"_ _0\"></span> paper plus available cash),<span class=\"_ _0\"></span> bot<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> of which are<span class=\"_ _0\"></span> out<span class=\"_ _2\"></span>puts of the business plan.<span class=\"_ _0\"></span> The business plan is stress-tested using severe<span class=\"_ _0\"></span> but plausible downside scenarios as<span class=\"_ _0\"></span> determined by the Financial Risk Committee over the<span class=\"_ _0\"></span> full three<span class=\"_ _2\"></span>-year plan<span class=\"_ _0\"></span> period. The impact of these stress tests on the per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance of cor<span class=\"_ _0\"></span>e reve<span class=\"_ _2\"></span>nue s<span class=\"_ _2\"></span>trea<span class=\"_ _2\"></span>ms and s<span class=\"_ _2\"></span>egm<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s is mo<span class=\"_ _2\"></span>dell<span class=\"_ _2\"></span>ed, w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h appr<span class=\"_ _2\"></span>opr<span class=\"_ _2\"></span>iate mitigat<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> fac<span class=\"_ _2\"></span>tors also c<span class=\"_ _0\"></span>onsidered. The output<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> this st<span class=\"_ _2\"></span>ress-<span class=\"_ _314\"> </span>tes<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng on t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s cash f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>w and li<span class=\"_ _2\"></span>quid<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y are t<span class=\"_ _2\"></span>hen ev<span class=\"_ _2\"></span>alua<span class=\"_ _2\"></span>ted against thresholds set by<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> risk appetite. These thresholds include liquidity headroom and leverage ratio (operating net debt<span class=\"_ _0\"></span> to adjusted earnings bef<span class=\"_ _0\"></span>ore interest, tax<span class=\"_ _2\"></span>, depreciation, a<span class=\"_ _0\"></span>mor<span class=\"_ _2\"></span>tisation and impairment<span class=\"_ _0\"></span> (EBITDA) and bef<span class=\"_ _0\"></span>ore foreign<span class=\"_ _0\"></span> exchange gains<span class=\"_ _0\"></span> or losses).<span class=\"_ _314\"> </span>The scenarios<span class=\"_ _0\"></span> modelle<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> are included in<span class=\"_ _0\"></span> the viabili<span class=\"_ _2\"></span>ty statement on page<span class=\"_ _0\"></span> 56.<span class=\"_ _314\"> </span>No s<span class=\"_ _2\"></span>cenar<span class=\"_ _2\"></span>io ove<span class=\"_ _2\"></span>r the t<span class=\"_ _2\"></span>hree<span class=\"_ _2\"></span>-y<span class=\"_ _2\"></span>ear pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d lead<span class=\"_ _2\"></span>s to a brea<span class=\"_ _2\"></span>ch in th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s ris<span class=\"_ _2\"></span>k appe<span class=\"_ _2\"></span>tit<span class=\"_ _2\"></span>e thre<span class=\"_ _2\"></span>shol<span class=\"_ _2\"></span>ds or wo<span class=\"_ _2\"></span>uld me<span class=\"_ _2\"></span>an th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p is una<span class=\"_ _2\"></span>ble to m<span class=\"_ _2\"></span>eet i<span class=\"_ _2\"></span>ts ob<span class=\"_ _2\"></span>lig<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>ns as a re<span class=\"_ _2\"></span>sult o<span class=\"_ _2\"></span>f insu<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>cien<span class=\"_ _2\"></span>t liqu<span class=\"_ _2\"></span>idi<span class=\"_ _2\"></span>ty. A reve<span class=\"_ _2\"></span>rse s<span class=\"_ _2\"></span>tre<span class=\"_ _2\"></span>ss tes<span class=\"_ _2\"></span>t has a<span class=\"_ _2\"></span>lso be<span class=\"_ _2\"></span>en com<span class=\"_ _2\"></span>plet<span class=\"_ _2\"></span>ed, to ev<span class=\"_ _2\"></span>alua<span class=\"_ _2\"></span>te the<span class=\"_ _2\"></span> financial impac<span class=\"_ _2\"></span>ts that would br<span class=\"_ _0\"></span>each the Group\u2019<span class=\"_ _0\"></span>s risk appetite thresholds. We<span class=\"_ _0\"></span> concluded that the scenarios r<span class=\"_ _0\"></span>equired to breach<span class=\"_ _0\"></span> the thresholds are<span class=\"_ _0\"></span> all deemed improbable.<span class=\"_ _314\"> </span>Conclusion<span class=\"_ _314\"> </span>The Directors therefore<span class=\"_ _0\"></span> consider there t<span class=\"_ _0\"></span>o be no material<span class=\"_ _0\"></span> uncert<span class=\"_ _2\"></span>ainties that ma<span class=\"_ _0\"></span>y cast signif<span class=\"_ _2\"></span>icant doubt on<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> abilit<span class=\"_ _2\"></span>y to con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>ue to op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>e as a goi<span class=\"_ _2\"></span>ng conc<span class=\"_ _2\"></span>ern<span class=\"_ _2\"></span>. The Di<span class=\"_ _2\"></span>rec<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s have a reas<span class=\"_ _2\"></span>onab<span class=\"_ _2\"></span>le ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>tion t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup ha<span class=\"_ _2\"></span>s ade<span class=\"_ _2\"></span>quate re<span class=\"_ _2\"></span>sourc<span class=\"_ _2\"></span>es to c<span class=\"_ _0\"></span>ontinue in operational<span class=\"_ _0\"></span> existence for<span class=\"_ _0\"></span> 12 months from<span class=\"_ _0\"></span> the date when<span class=\"_ _0\"></span> t<span class=\"_ _2\"></span>hese<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatements are<span class=\"_ _0\"></span> aut<span class=\"_ _2\"></span>horised f<span class=\"_ _0\"></span>or issue. Accor<span class=\"_ _0\"></span>dingly,<span class=\"_ _0\"></span> the going con<span class=\"_ _0\"></span>cern basis h<span class=\"_ _0\"></span>as been adopted<span class=\"_ _0\"></span> in the preparation of these financial statements<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-498": {
   "value": "Go<span class=\"_ _2\"></span>ing conce<span class=\"_ _2\"></span>rn<span class=\"_ _314\"> </span>The financial statement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> have been prepar<span class=\"_ _0\"></span>ed on a going concer<span class=\"_ _2\"></span>n basis.<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s business activ<span class=\"_ _2\"></span>ities (together with the factor<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> likely to af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t i<span class=\"_ _2\"></span>ts f<span class=\"_ _2\"></span>utu<span class=\"_ _2\"></span>re devel<span class=\"_ _2\"></span>opm<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>, per<span class=\"_ _2\"></span>fo<span class=\"_ _2\"></span>rman<span class=\"_ _2\"></span>ce and p<span class=\"_ _2\"></span>osit<span class=\"_ _2\"></span>ion)<span class=\"_ _2\"></span>, it<span class=\"_ _2\"></span>s object<span class=\"_ _2\"></span>ives, policies in<span class=\"_ _0\"></span> managing risk and its capital are set<span class=\"_ _0\"></span> out in t<span class=\"_ _2\"></span>he St<span class=\"_ _2\"></span>rate<span class=\"_ _2\"></span>gic Rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t on pa<span class=\"_ _2\"></span>ges 1 to 5<span class=\"_ _2\"></span>6. In a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">the Group\u2019<span class=\"_ _0\"></span>s borrowing facilities and respective repayment </span>dates, and the<span class=\"_ _0\"></span> net debt position of the Group<span class=\"_ _0\"></span>, are included in no<span class=\"_ _2\"></span>te 16; a<span class=\"_ _2\"></span>nd <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">the financial risk management objecti<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> and policies of </span>th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p, toge<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r wit<span class=\"_ _2\"></span>h it<span class=\"_ _2\"></span>s exp<span class=\"_ _2\"></span>osure t<span class=\"_ _2\"></span>o capi<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>l, cred<span class=\"_ _2\"></span>it an<span class=\"_ _2\"></span>d concentration, countr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, liquidit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, se<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>tlement, cus<span class=\"_ _2\"></span>todial<span class=\"_ _0\"></span> and market risk<span class=\"_ _2\"></span>, are d<span class=\"_ _2\"></span>iscu<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>d in note 1<span class=\"_ _2\"></span>7<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>5.<span class=\"_ _314\"> </span>Business planning process<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s for<span class=\"_ _0\"></span>ecas<span class=\"_ _2\"></span>ting and planning<span class=\"_ _0\"></span> process includes the Group\u2019<span class=\"_ _0\"></span>s three-<span class=\"_ _2\"></span>year<span class=\"_ _0\"></span> business plan. The business plan<span class=\"_ _0\"></span> makes certain assumptions about the per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> of the core<span class=\"_ _0\"></span> revenue streams and segments, the use of existing product lines and the tak<span class=\"_ _0\"></span>e up of new<span class=\"_ _0\"></span> produc<span class=\"_ _2\"></span>t li<span class=\"_ _0\"></span>nes. It also makes<span class=\"_ _0\"></span> assumption<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on appropriate levels of<span class=\"_ _0\"></span> investm<span class=\"_ _2\"></span>ent<span class=\"_ _0\"></span> to suppor<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted performance, known inorganic activ<span class=\"_ _2\"></span>ity,<span class=\"_ _0\"></span> the abilit<span class=\"_ _2\"></span>y to<span class=\"_ _0\"></span> refinance debt as r<span class=\"_ _0\"></span>equired and expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed returns to<span class=\"_ _0\"></span> shareholders.<span class=\"_ _314\"> </span>Performance management<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s performance is analysed monthly by management. Monthl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> result<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are reviewed<span class=\"_ _0\"></span> and compared against the business pla<span class=\"_ _2\"></span>n, an<span class=\"_ _2\"></span>d prev<span class=\"_ _2\"></span>ious a<span class=\"_ _2\"></span>nd up<span class=\"_ _2\"></span>dated f<span class=\"_ _2\"></span>ull<span class=\"_ _2\"></span>-ye<span class=\"_ _2\"></span>ar fore<span class=\"_ _2\"></span>cas<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>re als<span class=\"_ _2\"></span>o assessed. Key<span class=\"_ _0\"></span> variances and associated drivers are<span class=\"_ _0\"></span> reviewed and re<span class=\"_ _0\"></span>por<span class=\"_ _2\"></span>ted upon.<span class=\"_ _314\"> </span><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls49 ws64 gs91\">Cash flows and liq<span class=\"_ _0\"></span>uidit<span class=\"_ _2\"></span>y h<span class=\"_ _0\"></span>eadroom<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs92\">When per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>orming our going concern<span class=\"_ _0\"></span> asses<span class=\"_ _2\"></span>sment, the main<span class=\"_ _0\"></span> fac<span class=\"_ _2\"></span>tors </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs93\">con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>red are fo<span class=\"_ _2\"></span>reca<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s cash f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>w and li<span class=\"_ _2\"></span>quid<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs94\">headroom (de<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>ined as<span class=\"_ _0\"></span> undrawn commit<span class=\"_ _2\"></span>ted facilities less issued </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs95\">commercial<span class=\"_ _0\"></span> paper plus available cash),<span class=\"_ _0\"></span> bot<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> of which are<span class=\"_ _0\"></span> out<span class=\"_ _2\"></span>puts </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs96\">of the business plan.<span class=\"_ _0\"></span> The business plan is stress-tested using </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs97\">severe<span class=\"_ _0\"></span> but plausible downside scenarios as<span class=\"_ _0\"></span> determined by the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs98\">Financial Risk Committee over the<span class=\"_ _0\"></span> full three<span class=\"_ _2\"></span>-year plan<span class=\"_ _0\"></span> period. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs99\">The impact of these stress tests on the per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance of cor<span class=\"_ _0\"></span>e </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs9a\">reve<span class=\"_ _2\"></span>nue s<span class=\"_ _2\"></span>trea<span class=\"_ _2\"></span>ms and s<span class=\"_ _2\"></span>egm<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s is mo<span class=\"_ _2\"></span>dell<span class=\"_ _2\"></span>ed, w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h appr<span class=\"_ _2\"></span>opr<span class=\"_ _2\"></span>iate </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs9b\">mitigat<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> fac<span class=\"_ _2\"></span>tors also c<span class=\"_ _0\"></span>onsidered. The output<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> this st<span class=\"_ _2\"></span>ress-<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs9c\">tes<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng on t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s cash f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>w and li<span class=\"_ _2\"></span>quid<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y are t<span class=\"_ _2\"></span>hen ev<span class=\"_ _2\"></span>alua<span class=\"_ _2\"></span>ted </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs9d\">against thresholds set by<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> risk appetite. These </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs9e\">thresholds include liquidity headroom and leverage ratio </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs9f\">(operating net debt<span class=\"_ _0\"></span> to adjusted earnings bef<span class=\"_ _0\"></span>ore interest, tax<span class=\"_ _2\"></span>, </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls10 ws20 gsa0\">depreciation, a<span class=\"_ _0\"></span>mor<span class=\"_ _2\"></span>tisation and impairment<span class=\"_ _0\"></span> (EBITDA) and bef<span class=\"_ _0\"></span>ore </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsa1\">foreign<span class=\"_ _0\"></span> exchange gains<span class=\"_ _0\"></span> or losses).<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsa2\">The scenarios<span class=\"_ _0\"></span> modelle<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> are included in<span class=\"_ _0\"></span> the viabili<span class=\"_ _2\"></span>ty statement </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls10 ws20 gsa3\">on page<span class=\"_ _0\"></span> 56.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsa4\">No s<span class=\"_ _2\"></span>cenar<span class=\"_ _2\"></span>io ove<span class=\"_ _2\"></span>r the t<span class=\"_ _2\"></span>hree<span class=\"_ _2\"></span>-y<span class=\"_ _2\"></span>ear pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d lead<span class=\"_ _2\"></span>s to a brea<span class=\"_ _2\"></span>ch in th<span class=\"_ _2\"></span>e </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsa5\">Gro<span class=\"_ _2\"></span>up\u2019s ris<span class=\"_ _2\"></span>k appe<span class=\"_ _2\"></span>tit<span class=\"_ _2\"></span>e thre<span class=\"_ _2\"></span>shol<span class=\"_ _2\"></span>ds or wo<span class=\"_ _2\"></span>uld me<span class=\"_ _2\"></span>an th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p is </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsa6\">una<span class=\"_ _2\"></span>ble to m<span class=\"_ _2\"></span>eet i<span class=\"_ _2\"></span>ts ob<span class=\"_ _2\"></span>lig<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>ns as a re<span class=\"_ _2\"></span>sult o<span class=\"_ _2\"></span>f insu<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>cien<span class=\"_ _2\"></span>t liqu<span class=\"_ _2\"></span>idi<span class=\"_ _2\"></span>ty. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsa7\">A reve<span class=\"_ _2\"></span>rse s<span class=\"_ _2\"></span>tre<span class=\"_ _2\"></span>ss tes<span class=\"_ _2\"></span>t has a<span class=\"_ _2\"></span>lso be<span class=\"_ _2\"></span>en com<span class=\"_ _2\"></span>plet<span class=\"_ _2\"></span>ed, to ev<span class=\"_ _2\"></span>alua<span class=\"_ _2\"></span>te the<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsa8\">financial impac<span class=\"_ _2\"></span>ts that would br<span class=\"_ _0\"></span>each the Group\u2019<span class=\"_ _0\"></span>s risk appetite </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsa9\">thresholds. We<span class=\"_ _0\"></span> concluded that the scenarios r<span class=\"_ _0\"></span>equired to breach<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsaa\">the thresholds are<span class=\"_ _0\"></span> all deemed improbable.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls19 wsa6 gsab\">Conclusion<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsac\">The Directors therefore<span class=\"_ _0\"></span> consider there t<span class=\"_ _0\"></span>o be no material<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsad\">uncert<span class=\"_ _2\"></span>ainties that ma<span class=\"_ _0\"></span>y cast signif<span class=\"_ _2\"></span>icant doubt on<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> abilit<span class=\"_ _2\"></span>y </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsae\">to con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>ue to op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>e as a goi<span class=\"_ _2\"></span>ng conc<span class=\"_ _2\"></span>ern<span class=\"_ _2\"></span>. The Di<span class=\"_ _2\"></span>rec<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s have </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsaf\">a reas<span class=\"_ _2\"></span>onab<span class=\"_ _2\"></span>le ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>tion t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup ha<span class=\"_ _2\"></span>s ade<span class=\"_ _2\"></span>quate re<span class=\"_ _2\"></span>sourc<span class=\"_ _2\"></span>es </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls10 ws20 gsb0\">to c<span class=\"_ _0\"></span>ontinue in operational<span class=\"_ _0\"></span> existence for<span class=\"_ _0\"></span> 12 months from<span class=\"_ _0\"></span> the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsb1\">date when<span class=\"_ _0\"></span> t<span class=\"_ _2\"></span>hese<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatements are<span class=\"_ _0\"></span> aut<span class=\"_ _2\"></span>horised f<span class=\"_ _0\"></span>or issue. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls10 ws20 gsb2\">Accor<span class=\"_ _0\"></span>dingly,<span class=\"_ _0\"></span> the going con<span class=\"_ _0\"></span>cern basis h<span class=\"_ _0\"></span>as been adopted<span class=\"_ _0\"></span> in the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsb3\">preparation of these financial statements<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-473": {
   "value": "<div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls22 ws3 gsa6\">1.<span class=\"_ _2\"></span>3 Ba<span class=\"_ _2\"></span>sis of con<span class=\"_ _2\"></span>soli<span class=\"_ _2\"></span>datio<span class=\"_ _2\"></span>n<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsb5\">The consolidated<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatements comprise the financial </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls5 ws5 gsb6\">statement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the Company<span class=\"_ _0\"></span>, subs<span class=\"_ _0\"></span>idiaries controlled by<span class=\"_ _0\"></span> the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsb7\">Company and the r<span class=\"_ _0\"></span>esult<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> associates and joint<span class=\"_ _0\"></span> ventures. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsb8\">Sub<span class=\"_ _2\"></span>sidi<span class=\"_ _2\"></span>arie<span class=\"_ _2\"></span>s are con<span class=\"_ _2\"></span>sol<span class=\"_ _2\"></span>idate<span class=\"_ _2\"></span>d from t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te on wh<span class=\"_ _2\"></span>ich con<span class=\"_ _2\"></span>tro<span class=\"_ _2\"></span>l is </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsb9\">obt<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>ed by th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up. The<span class=\"_ _2\"></span>y are de<span class=\"_ _2\"></span>conso<span class=\"_ _2\"></span>lida<span class=\"_ _2\"></span>ted fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e date </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsba\">on w<span class=\"_ _2\"></span>hich co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ol ceas<span class=\"_ _2\"></span>es. C<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rol is a<span class=\"_ _2\"></span>chiev<span class=\"_ _2\"></span>ed wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsbb\">is ex<span class=\"_ _2\"></span>pos<span class=\"_ _2\"></span>ed, or h<span class=\"_ _2\"></span>as ri<span class=\"_ _2\"></span>ght<span class=\"_ _2\"></span>s, to v<span class=\"_ _2\"></span>aria<span class=\"_ _2\"></span>ble ret<span class=\"_ _2\"></span>urn<span class=\"_ _2\"></span>s from i<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>nvol<span class=\"_ _2\"></span>veme<span class=\"_ _2\"></span>nt </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws85 gsbc\">with the investee and has the ability to affect those returns through </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsbd\">it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> power over the<span class=\"_ _0\"></span> investee. The results of s<span class=\"_ _0\"></span>ubsidiaries are </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsbe\">con<span class=\"_ _2\"></span>soli<span class=\"_ _2\"></span>date<span class=\"_ _2\"></span>d for th<span class=\"_ _2\"></span>e peri<span class=\"_ _2\"></span>od to 3<span class=\"_ _2\"></span>1<span class=\"_ gsbf\"> </span>Dece<span class=\"_ _2\"></span>mber, even i<span class=\"_ _2\"></span>f the<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsc0\">subsidiar<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> year-end is different.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsc1\">The principal operating subsidiaries o<span class=\"_ _0\"></span>f the Group are<span class=\"_ _0\"></span> gi<span class=\"_ _2\"></span>ven<span class=\"_ _0\"></span> on the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsc2\">nex<span class=\"_ _2\"></span>t pa<span class=\"_ _2\"></span>ge an<span class=\"_ _2\"></span>d a full l<span class=\"_ _2\"></span>ist o<span class=\"_ _2\"></span>f subs<span class=\"_ _2\"></span>idia<span class=\"_ _2\"></span>ries i<span class=\"_ _2\"></span>s give<span class=\"_ _2\"></span>n in not<span class=\"_ _2\"></span>e 10.1 of t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsc3\">Company financial statement<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div>Name<span class=\"_ _12b\"> </span><span class=\"ls12 ws44\">Princip<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> ac<span class=\"_ _2\"></span>tivit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></span>Co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y of incorporation and principal operations<span class=\"_ _314\"> </span>Grou<span class=\"_ _2\"></span>p ultimate economic interest %<span class=\"_ _314\"> </span>Banque Centrale de Compensation (L<span class=\"_ _0\"></span>CH SA)<span class=\"_ _314\"> </span>CCP clearing ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span>France<span class=\"_ _ea\"> </span><span class=\"ls6e ws98\">94.4<span class=\"_ _314\"> </span></span>Financial &amp;<span class=\"_ _0\"></span> Risk Organisation Limited<span class=\"_ _314\"> </span>IP owner<span class=\"_ _110\"> </span>England<span class=\"_ _0\"></span> &amp; Wales<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>Frank Russell <span class=\"ls4 ws3\"> </span>Company<span class=\"_ _314\"> </span>Market indic<span class=\"_ _0\"></span>es provider<span class=\"_ _314\"> </span>Uni<span class=\"_ _2\"></span>ted Sta<span class=\"_ _2\"></span>tes<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>FTS<span class=\"_ _2\"></span>E<span class=\"_ _0\"></span> Inter<span class=\"_ _2\"></span>national Limited<span class=\"_ _314\"> </span>Market indic<span class=\"_ _0\"></span>es provider<span class=\"_ _314\"> </span>England &amp; Wales<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>L<span class=\"_ _0\"></span>CH Limited<span class=\"_ _16f\"> </span>CCP clearing ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span>England &amp; Wales<span class=\"_ _314\"> </span>94.4<span class=\"_ _314\"> </span>London<span class=\"_ _0\"></span> Stock E<span class=\"_ _2\"></span>xchan<span class=\"_ _2\"></span>ge pl<span class=\"_ _2\"></span>c<span class=\"_ _314\"> </span>Recogn<span class=\"_ _0\"></span>ised inves<span class=\"_ _2\"></span>tment exch<span class=\"_ _2\"></span>ange<span class=\"_ _314\"> </span>England &amp; Wales<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>LS<span class=\"_ _2\"></span>EG Fi<span class=\"_ _2\"></span>nan<span class=\"_ _2\"></span>ce plc<span class=\"_ _70\"> </span><span class=\"ls86 wsb3\">Tr<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>u<span class=\"_ _2\"></span>r<span class=\"_ _10\"> </span>y<span class=\"_ _2\"></span> </span>management<span class=\"_ _314\"> </span>England &amp; Wales<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>LSEG Netherlands B.<span class=\"_ _0\"></span>V<span class=\"_ _0\"></span>.<span class=\"_ _102\"> </span><span class=\"ls86 wsb3\">Tr<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>u<span class=\"_ _2\"></span>r<span class=\"_ _10\"> </span>y<span class=\"_ _2\"></span> </span>management<span class=\"_ _314\"> </span>Netherlands<span class=\"_ _22c\"> </span><span class=\"lsee ws55\">100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span></span>LS<span class=\"_ _2\"></span>EG US F<span class=\"_ _2\"></span>in Co<span class=\"_ _2\"></span>rp<span class=\"_ _8\"> </span><span class=\"ls86 wsb3\">Tr<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>u<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>y<span class=\"_ _2\"></span> </span>management<span class=\"_ _314\"> </span>Uni<span class=\"_ _2\"></span>ted Sta<span class=\"_ _2\"></span>tes<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>Refinit<span class=\"_ _2\"></span>iv Germany <span class=\"ls4 ws3\"> </span>GmbH<span class=\"_ _314\"> </span>Market and<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inanci<span class=\"_ _0\"></span>al data provider<span class=\"_ _314\"> </span>Germany<span class=\"_ _131\"> </span><span class=\"lsee ws55\">100.0<span class=\"_ _314\"> </span></span>Refiniti<span class=\"_ _2\"></span>v<span class=\"_ _0\"></span> Japan KK<span class=\"_ _1c2\"> </span>Market and financial data provider<span class=\"_ _314\"> </span>Japan<span class=\"_ _131\"> </span><span class=\"lsee ws55\">100.0<span class=\"_ _314\"> </span></span>Refinit<span class=\"_ _2\"></span>iv Limited<span class=\"_ _78\"> </span><span class=\"ls6c ws7e\">Mar<span class=\"_ _2\"></span>k<span class=\"_ _0\"></span>et and financial </span>data provider<span class=\"_ _314\"> </span>England &amp; Wales<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>Ref<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>iti<span class=\"_ _2\"></span>v US LLC<span class=\"_ _5e\"> </span><span class=\"ls6c ws7e\">Mar<span class=\"_ _2\"></span>k<span class=\"_ _0\"></span>et and financial </span>data provider<span class=\"_ _314\"> </span>Uni<span class=\"_ _2\"></span>ted Sta<span class=\"_ _2\"></span>tes<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>Refinit<span class=\"_ _2\"></span>iv US Organization LL<span class=\"_ _0\"></span>C<span class=\"_ _314\"> </span>IP owner<span class=\"_ _22d\"> </span><span class=\"ls39 ws0\">Uni<span class=\"_ _2\"></span>ted </span>Sta<span class=\"_ _2\"></span>tes<span class=\"_ _314\"> </span>100.<span class=\"_ _0\"></span>0<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>radeweb Market<span class=\"_ _2\"></span>s LL<span class=\"_ _0\"></span>C (Group)<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>Multilateral trading facilit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span>Uni<span class=\"_ _2\"></span>ted Sta<span class=\"_ _2\"></span>tes<span class=\"_ _314\"> </span>50.9<span class=\"_ _314\"> </span>1 <span class=\"_ _c\"> </span>Includes the Institutional Cash Distribu<span class=\"_ _2\"></span>tors<span class=\"_ _0\"></span> sub<span class=\"_ _2\"></span>-group.<span class=\"_ _314\"> </span>On an acquis<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>ion-by-<span class=\"_ _2\"></span>acquis<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> basis, the Group elect<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> whether to measur<span class=\"_ _0\"></span>e the non-<span class=\"_ _2\"></span>controlling inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ts in the ac<span class=\"_ _0\"></span>quiree, if any<span class=\"_ _0\"></span>, at<span class=\"_ _0\"></span> fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue or at t<span class=\"_ _2\"></span>he pro<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>iona<span class=\"_ _2\"></span>te share o<span class=\"_ _2\"></span>f the a<span class=\"_ _2\"></span>cquir<span class=\"_ _2\"></span>ee\u2019s iden<span class=\"_ _2\"></span>tif<span class=\"_ _2\"></span>ia<span class=\"_ _2\"></span>ble<span class=\"_ _2\"></span> net assets. Non<span class=\"_ _2\"></span>-controlling interests in the results and equity of subsidiaries are<span class=\"_ _0\"></span> shown separately in the c<span class=\"_ _0\"></span>onsolidated income statement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> consolidated statement of compr<span class=\"_ _0\"></span>ehensive income, consolidated balanc<span class=\"_ _0\"></span>e sheet and c<span class=\"_ _0\"></span>onsolidated statement of cha<span class=\"_ _2\"></span>nges i<span class=\"_ _2\"></span>n equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y (se<span class=\"_ _2\"></span>e note 19<span class=\"_ _2\"></span>).<span class=\"_ _314\"> </span>Intercompany<span class=\"_ _0\"></span> t<span class=\"_ _2\"></span>ransactions and balances between Group companies are<span class=\"_ _0\"></span> eliminated on c<span class=\"_ _0\"></span>onsolidation<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Where necessar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, adjust<span class=\"_ _2\"></span>ments are<span class=\"_ _0\"></span> made to the r<span class=\"_ _0\"></span>esult<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> subsidiaries and associates to bring their<span class=\"_ _0\"></span> accounting policies in line<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th those o<span class=\"_ _0\"></span>f the Group<span class=\"_ _314\"> </span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-500": {
   "value": "1.4 Related parties<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s relat<span class=\"_ _0\"></span>ed par<span class=\"_ _2\"></span>ties includes associat<span class=\"_ _0\"></span>es, joint ventures, Dir<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tors a<span class=\"_ _2\"></span>nd E<span class=\"_ _2\"></span>xecu<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>e Comm<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>tee m<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>rs (s<span class=\"_ _2\"></span>ee note 4<span class=\"_ _2\"></span>.1 for compensation for k<span class=\"_ _0\"></span>ey management personnel). All significant transac<span class=\"_ _2\"></span>tions with related parties are carried out on an<span class=\"_ _0\"></span> arm\u2019s length basis",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-475": {
   "value": "1.5 Foreign currencies<span class=\"_ _314\"> </span>Functional and presentation currency<span class=\"_ _314\"> </span>The consolidated<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatements are<span class=\"_ _0\"></span> presented in sterling, wh<span class=\"_ _2\"></span>ich is a<span class=\"_ _2\"></span>lso t<span class=\"_ _2\"></span>he fun<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>al cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y of Lon<span class=\"_ _2\"></span>don Sto<span class=\"_ _2\"></span>ck E<span class=\"_ _2\"></span>xchan<span class=\"_ _2\"></span>ge Group plc, the Company<span class=\"_ _0\"></span>. The Group de<span class=\"_ _0\"></span>termines the funct<span class=\"_ _2\"></span>ional currency for each<span class=\"_ _0\"></span> of its subsidiar<span class=\"_ _2\"></span>y entities and items included<span class=\"_ _0\"></span> in the financial statement<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> each entit<span class=\"_ _2\"></span>y are<span class=\"_ _0\"></span> measured using that func<span class=\"_ _2\"></span>tional curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>ransac<span class=\"_ _2\"></span>tions and balanc<span class=\"_ _0\"></span>es in foreign curr<span class=\"_ _0\"></span>encies<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>ansactions in foreign<span class=\"_ _0\"></span> currencies are<span class=\"_ _0\"></span> init<span class=\"_ _2\"></span>ially r<span class=\"_ _0\"></span>ecorded and translated into the functional currency of the rele<span class=\"_ _0\"></span>vant Group ent<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y at t<span class=\"_ _2\"></span>he exch<span class=\"_ _2\"></span>ange r<span class=\"_ _2\"></span>ate ru<span class=\"_ _2\"></span>ling a<span class=\"_ _2\"></span>t the d<span class=\"_ _2\"></span>ate of t<span class=\"_ _2\"></span>he tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>. Monetar<span class=\"_ _2\"></span>y assets and liabilities denominated<span class=\"_ _0\"></span> in foreign<span class=\"_ _0\"></span> currencies are translated int<span class=\"_ _0\"></span>o the respecti<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tional currency of the entity at t<span class=\"_ _2\"></span>he excha<span class=\"_ _2\"></span>nge r<span class=\"_ _2\"></span>ate prev<span class=\"_ _2\"></span>aili<span class=\"_ _2\"></span>ng at t<span class=\"_ _2\"></span>he repo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date.<span class=\"_ _2\"></span> Foreign ex<span class=\"_ _0\"></span>change gains and losses<span class=\"_ _0\"></span> resulting from the settlemen<span class=\"_ _2\"></span>t of su<span class=\"_ _2\"></span>ch forei<span class=\"_ _2\"></span>gn cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns or fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e tra<span class=\"_ _2\"></span>nsla<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of monetar<span class=\"_ _2\"></span>y assets and liabilities denominat<span class=\"_ _0\"></span>ed in foreign<span class=\"_ _0\"></span> currencies are r<span class=\"_ _0\"></span>ecognised in the income statement, either within operat<span class=\"_ _2\"></span>ing expenses or finance income<span class=\"_ _0\"></span> or cost<span class=\"_ _2\"></span>s, depending<span class=\"_ _0\"></span> on the nature of t<span class=\"_ _2\"></span>he ite<span class=\"_ _2\"></span>m or tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>No<span class=\"_ _2\"></span>n-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>eta<span class=\"_ _2\"></span>ry i<span class=\"_ _2\"></span>tem<span class=\"_ _2\"></span>s measu<span class=\"_ _2\"></span>red at h<span class=\"_ _2\"></span>isto<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>al cos<span class=\"_ _2\"></span>t are no<span class=\"_ _2\"></span>t ret<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>slate<span class=\"_ _2\"></span>d. No<span class=\"_ _2\"></span>n-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>eta<span class=\"_ _2\"></span>ry i<span class=\"_ _2\"></span>tem<span class=\"_ _2\"></span>s measu<span class=\"_ _2\"></span>red at f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue t<span class=\"_ _2\"></span>hat are<span class=\"_ _2\"></span> denominated in<span class=\"_ _0\"></span> foreign currencies<span class=\"_ _0\"></span> are retranslated<span class=\"_ _0\"></span> at the exch<span class=\"_ _0\"></span>ange ra<span class=\"_ _2\"></span>te at th<span class=\"_ _2\"></span>e date wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e fair v<span class=\"_ _2\"></span>alu<span class=\"_ _2\"></span>e was de<span class=\"_ _2\"></span>termi<span class=\"_ _2\"></span>ned<span class=\"_ _2\"></span>. Any fo<span class=\"_ _2\"></span>reign<span class=\"_ _2\"></span> exchange<span class=\"_ _0\"></span> gain or loss on<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> liabilities carrie<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> at fair value is re<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>ted a<span class=\"_ _2\"></span>s par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he fa<span class=\"_ _2\"></span>ir val<span class=\"_ _2\"></span>ue gai<span class=\"_ _2\"></span>n or los<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>is mea<span class=\"_ _2\"></span>ns: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3e ws7\">Foreign ex<span class=\"_ _0\"></span>change gains and losses<span class=\"_ _0\"></span> on non-<span class=\"_ _2\"></span>monetar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and </span>liabilities held at fair<span class=\"_ _0\"></span> value through profit or loss are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> (wi<span class=\"_ _2\"></span>thin operating expenses). <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Foreign ex<span class=\"_ _0\"></span>change gains and losses<span class=\"_ _0\"></span> on non-<span class=\"_ _2\"></span>monetar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s </span>classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> at fair value through<span class=\"_ _0\"></span> other comprehensive income are r<span class=\"_ _0\"></span>ecognised in other comprehensive<span class=\"_ _0\"></span> income.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>ranslation of non-sterling entitie<span class=\"_ _0\"></span>s on consolidati<span class=\"_ _0\"></span>on<span class=\"_ _314\"> </span>The results and financial position of all<span class=\"_ _0\"></span> Group entit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> that have a non-s<span class=\"_ _2\"></span>terling<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tional currency are translated<span class=\"_ _0\"></span> into sterling on co<span class=\"_ _2\"></span>nsol<span class=\"_ _2\"></span>idat<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>nto th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s resul<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>s follo<span class=\"_ _2\"></span>ws: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> (including goodw<span class=\"_ _2\"></span>ill, pur<span class=\"_ _0\"></span>chased intangible </span>assets and fair<span class=\"_ _0\"></span> value adjustment<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>) are t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>slate<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e repor<span class=\"_ _2\"></span>ting date<span class=\"_ _0\"></span> exchange rates.  <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Income and e<span class=\"_ _0\"></span>xpenses and other comprehensive inc<span class=\"_ _0\"></span>ome </span>are t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>slate<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e aver<span class=\"_ _2\"></span>age exch<span class=\"_ _2\"></span>ange r<span class=\"_ _2\"></span>ate for e<span class=\"_ _2\"></span>ach mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>. Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>is aver<span class=\"_ _2\"></span>age i<span class=\"_ _2\"></span>s not a rea<span class=\"_ _2\"></span>sona<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>pprox<span class=\"_ _2\"></span>imat<span class=\"_ _2\"></span>ion of t<span class=\"_ _2\"></span>he rate pre<span class=\"_ _0\"></span>vailing on the date<span class=\"_ _0\"></span> of a material<span class=\"_ _0\"></span> trans<span class=\"_ _2\"></span>action, these items are t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>slate<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e rate o<span class=\"_ _2\"></span>n the da<span class=\"_ _2\"></span>te of th<span class=\"_ _2\"></span>e tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">All resulting ex<span class=\"_ _0\"></span>change dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ences are r<span class=\"_ _0\"></span>ecognised in other </span>comprehensive inc<span class=\"_ _0\"></span>ome.<span class=\"_ _314\"> </span>On consolidation, ex<span class=\"_ _0\"></span>change dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ences arising from the translation of<span class=\"_ _0\"></span> net investments in for<span class=\"_ _0\"></span>eign operations, borrowings and other currency instrument<span class=\"_ _2\"></span>s designat<span class=\"_ _0\"></span>ed as hedging instr<span class=\"_ _2\"></span>uments (see not<span class=\"_ _0\"></span>e 17<span class=\"_ _3\"></span>.4) are r<span class=\"_ _0\"></span>ecognised in other comprehensive inc<span class=\"_ _2\"></span>ome. O<span class=\"_ _2\"></span>n disp<span class=\"_ _2\"></span>osa<span class=\"_ _2\"></span>l of a forei<span class=\"_ _2\"></span>gn cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>, the cumulative exchange<span class=\"_ _0\"></span> dif<span class=\"_ _2\"></span>ferenc<span class=\"_ _0\"></span>es previously recognised in<span class=\"_ _0\"></span> other comprehensive inc<span class=\"_ _0\"></span>ome relating to that<span class=\"_ _0\"></span> operat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> are reclassified to th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent as p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t or los<span class=\"_ _2\"></span>s on di<span class=\"_ _2\"></span>spos<span class=\"_ _2\"></span>al.<span class=\"_ _314\"> </span>1 <span class=\"_ _c\"> </span>A<span class=\"_ _2\"></span>ny go<span class=\"_ _2\"></span>od<span class=\"_ _2\"></span>wil<span class=\"_ _2\"></span>l and a<span class=\"_ _2\"></span>ny fa<span class=\"_ _2\"></span>ir va<span class=\"_ _2\"></span>lue a<span class=\"_ _2\"></span>dju<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to t<span class=\"_ _2\"></span>he c<span class=\"_ _2\"></span>arr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s of as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s and<span class=\"_ _2\"></span> liabilities on the<span class=\"_ _0\"></span> acquisition of a f<span class=\"_ _0\"></span>oreign operation are<span class=\"_ _0\"></span> treated as<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and liabilities of t<span class=\"_ _2\"></span>he for<span class=\"_ _2\"></span>eig<span class=\"_ _2\"></span>n ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>nd t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sla<span class=\"_ _2\"></span>ted at t<span class=\"_ _2\"></span>he re<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ing d<span class=\"_ _2\"></span>ate ex<span class=\"_ _2\"></span>chan<span class=\"_ _2\"></span>ge r<span class=\"_ _2\"></span>ate.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-499": {
   "value": "<div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls2 ws2 gsad\">Functional and presentation currency<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsae\">The consolidated<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatements are<span class=\"_ _0\"></span> presented in sterling, </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsaf\">wh<span class=\"_ _2\"></span>ich is a<span class=\"_ _2\"></span>lso t<span class=\"_ _2\"></span>he fun<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>al cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y of Lon<span class=\"_ _2\"></span>don Sto<span class=\"_ _2\"></span>ck E<span class=\"_ _2\"></span>xchan<span class=\"_ _2\"></span>ge </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsb0\">Group plc, the Company<span class=\"_ _0\"></span>. The Group de<span class=\"_ _0\"></span>termines the funct<span class=\"_ _2\"></span>ional </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsb1\">currency for each<span class=\"_ _0\"></span> of its subsidiar<span class=\"_ _2\"></span>y entities and items included<span class=\"_ _0\"></span> in </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsb2\">the financial statement<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> each entit<span class=\"_ _2\"></span>y are<span class=\"_ _0\"></span> measured using that </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsb3\">func<span class=\"_ _2\"></span>tional curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-476": {
   "value": "<div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls4 ws2b gsc6\">1.6 New and amended standards and interpretations<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls51 ws73 gsc7\">Standards, interpretations<span class=\"_ _0\"></span> and amendments to published </div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls22 ws3 gsc8\">st<span class=\"_ _2\"></span>andar<span class=\"_ _2\"></span>ds ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve for th<span class=\"_ _2\"></span>e year end<span class=\"_ _2\"></span>ed <span>31 D<span class=\"_ _2\"></span>ecemb<span class=\"_ _2\"></span>er 2025<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsc9\">Du<span class=\"_ _2\"></span>ring t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>, t<span class=\"_ _2\"></span>he ame<span class=\"_ _2\"></span>ndme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s to IA<span class=\"_ _2\"></span>S 21 <span class=\"ff74\">The Ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>cts o<span class=\"_ _2\"></span>f Chang<span class=\"_ _2\"></span>es </span></div><div class=\"t m0 h5 ff74 fs2 fc1 sc0 ls3e ws5b gsca\">in Foreign Exchange Rates<span class=\"_ _0\"></span><span class=\"ff71 ls3 ws3\"> b<span class=\"_ _2\"></span>ecam<span class=\"_ _2\"></span>e ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve. Thi<span class=\"_ _2\"></span>s did n<span class=\"_ _2\"></span>ot have </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gscb\">a material<span class=\"_ _0\"></span> impac<span class=\"_ _2\"></span>t on<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-511": {
   "value": "1.6 New and amended standards and interpretations<span class=\"_ _314\"> </span>Standards, interpretations<span class=\"_ _0\"></span> and amendments to published st<span class=\"_ _2\"></span>andar<span class=\"_ _2\"></span>ds ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve for th<span class=\"_ _2\"></span>e year end<span class=\"_ _2\"></span>ed <span>31 D<span class=\"_ _2\"></span>ecemb<span class=\"_ _2\"></span>er 2025<span class=\"_ _314\"> </span></span>Du<span class=\"_ _2\"></span>ring t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>, t<span class=\"_ _2\"></span>he ame<span class=\"_ _2\"></span>ndme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s to IA<span class=\"_ _2\"></span>S 21 <span class=\"ff74\">The Ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>cts o<span class=\"_ _2\"></span>f Chang<span class=\"_ _2\"></span>es </span>in Foreign Exchange Rates<span class=\"_ _0\"></span><span class=\"ff71 ls3 ws3\"> b<span class=\"_ _2\"></span>ecam<span class=\"_ _2\"></span>e ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve. Thi<span class=\"_ _2\"></span>s did n<span class=\"_ _2\"></span>ot have </span>a material<span class=\"_ _0\"></span> impac<span class=\"_ _2\"></span>t on<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Standards, interpretations<span class=\"_ _0\"></span> and amendments to published standards which are not yet effect<span class=\"_ _2\"></span>ive<span class=\"_ _314\"> </span>Ne<span class=\"_ _2\"></span>w and am<span class=\"_ _2\"></span>ende<span class=\"_ _2\"></span>d st<span class=\"_ _2\"></span>anda<span class=\"_ _2\"></span>rds t<span class=\"_ _2\"></span>hat hav<span class=\"_ _2\"></span>e been i<span class=\"_ _2\"></span>ssu<span class=\"_ _2\"></span>ed, bu<span class=\"_ _2\"></span>t are no<span class=\"_ _2\"></span>t yet ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive, u<span class=\"_ _2\"></span>p to th<span class=\"_ _2\"></span>e date of t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s fi<span class=\"_ _2\"></span>nanc<span class=\"_ _2\"></span>ial s<span class=\"_ _2\"></span>tate<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s are<span class=\"_ _2\"></span> disclosed below<span class=\"_ _0\"></span>. The Group intends<span class=\"_ _0\"></span> to adopt these, if<span class=\"_ _0\"></span> applicabl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>, wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>ey beco<span class=\"_ _2\"></span>me ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive.<span class=\"_ _314\"> </span><table class=\"s w201 h224\" id=\"_bf8b1a1b-4376-45c2-8125-7c05cba123e0\"><tr><td class=\"c n x1eb y2112 w202 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls27 ws43\">International accounting standards and<span class=\"_ _0\"></span> interpretations<span class=\"_ _314\"> </span></div></td><td class=\"c n x40f y2112 w203 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls12 ws44\">Ef<span class=\"_ _2\"></span>fecti<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> date<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x410 h193 y2113 ff71 fs129 fc1 sc0 ls21 ws3\">Am<span class=\"_ _2\"></span>end<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s to I<span class=\"_ _2\"></span>FRS 9 <span class=\"ff74 ls71 ws9e\">Financi<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> Inst<span class=\"_ _2\"></span>ruments<span class=\"ff71 ls21 ws3\"> and I<span class=\"_ _2\"></span>FRS</span></span><span class=\"ff74 ls71 ws9e\"><span class=\"ff71 ls21 ws3\"><span class=\"_ _2\"></span> </span></span></td><td class=\"t m0 x411 h193 y2114 ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>26<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x410 h193 y2115 ff71 fs129 fc1 sc0 ls6a ws1\">7 <span class=\"ff74 ls95 ws9e\">Financial Instruments: Disclosures</span><span class=\"ls7b wsb4\"> \u2013<span class=\"_ _0\"></span> Clas<span class=\"_ _2\"></span>sificat<span class=\"_ _2\"></span>ion</span><span class=\"ls7b wsb4\"> </span></td><td></td></tr><tr><td class=\"c x1eb y2117 w204 h226\"><div class=\"t m0 x1e4 h193 y2116 ff71 fs129 fc1 sc0 ls6c ws7e\">and measurement<span class=\"_ _0\"></span> of financial instrument<span class=\"_ _2\"></span>s and<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">contrac<span class=\"_ _2\"></span>ts re<span class=\"_ _0\"></span>ferencing natur<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-dependent elect<span class=\"_ _2\"></span>ricity<span class=\"_ _314\"> </span></div><div class=\"t m0 x412 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c x1eb y2118 w205 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Annual improvements to<span class=\"_ _0\"></span> IFRS</div><div class=\"t m0 x413 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x411 h193 y2119 ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>26<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x410 h193 y211a ff71 fs129 fc1 sc0 ls6a ws3\">IF<span class=\"_ _2\"></span>RS 1<span class=\"_ _2\"></span>8 <span class=\"ff74 ls95 ws9e\">Pr<span class=\"_ _0\"></span>esentation and Disclosure<span class=\"_ _0\"></span> in Financial</span><span class=\"ff74 ls95 ws9e\"> </span></td><td class=\"t m0 x414 h193 y211b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>27<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c x1eb y211e w206 h227\"><div class=\"t m0 x1e4 h1dd y211c ff74 fs129 fc1 sc0 lsa7 wsd3\">Statements</div><div class=\"t m0 x415 h194 y211d ff71 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x410 h193 y211f ff71 fs129 fc1 sc0 ls6a ws3\">IF<span class=\"_ _2\"></span>RS 19 <span class=\"ff74 ls76 ws5\">Subsidiaries without Public<span class=\"_ _0\"></span> Account<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>y:</span><span class=\"ff74 ls76 ws5\"> </span></td><td class=\"c x417 y2121 w207 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls26 ws3\">1 Ja<span class=\"_ _2\"></span>nuar<span class=\"_ _2\"></span>y 2027</div><div class=\"t m0 x416 h199 y2120 ff71 fs12b fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w208 h228\"><div class=\"t m0 x1e4 h1dd y2122 ff74 fs129 fc1 sc0 ls95 wsc2\">Disclosures</div><div class=\"t m0 x418 h194 y2123 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td></tr></table>1 <span class=\"_ _c\"> </span>These amendments are<span class=\"_ _0\"></span> not expected to<span class=\"_ _0\"></span> have a mat<span class=\"_ _0\"></span>erial impact on the Group<span class=\"_ _0\"></span>\u2019s financial statements<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>IFRS<span class=\"_ _0\"></span> 18 replaces IAS 1<span class=\"_ _0\"></span> and sets out significant new r<span class=\"_ _0\"></span>equirements for how<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial statements are presented<span class=\"_ _0\"></span> with par<span class=\"_ _2\"></span>ticular f<span class=\"_ _0\"></span>ocus on: <span class=\"_ _22e\"></span>\u2013 <span class=\"ls8e ws48\">the income<span class=\"_ _0\"></span> statement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> including requirements for<span class=\"_ _0\"></span> mandatory sub<span class=\"_ _2\"></span>-totals<span class=\"_ _0\"></span> to be present<span class=\"_ _0\"></span>ed;</span> <span class=\"_ _22e\"></span>\u2013 <span class=\"ls29 ws47\">aggregation<span class=\"_ _0\"></span> and disaggregation of information, including the<span class=\"_ _0\"></span> introduc<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> overall </span>principles for how<span class=\"_ _0\"></span> information should be aggr<span class=\"_ _0\"></span>egated and disaggregated in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial statements; <span class=\"_ _22e\"></span>\u2013 <span class=\"ls7 ws48\">disclosur<span class=\"_ _0\"></span>es related<span class=\"_ _0\"></span> to management-defined per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> measures (MPMs), which </span>are measur<span class=\"_ _0\"></span>es of financial performance based<span class=\"_ _0\"></span> on a t<span class=\"_ _0\"></span>otal or sub-total required<span class=\"_ _0\"></span> by IF<span class=\"_ _2\"></span>RS w<span class=\"_ _2\"></span>ith a<span class=\"_ _2\"></span>dju<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts m<span class=\"_ _2\"></span>ade (<span class=\"_ _2\"></span>e.g.<span class=\"_ _2\"></span>, adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>ted pr<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>it or l<span class=\"_ _2\"></span>oss<span class=\"_ _2\"></span>). En<span class=\"_ _2\"></span>tit<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>s wil<span class=\"_ _2\"></span>l be re<span class=\"_ _2\"></span>quir<span class=\"_ _2\"></span>ed to<span class=\"_ _2\"></span> disclose MPMs in the<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> statement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> with disclosures, including r<span class=\"_ _0\"></span>econciliations of MPMs to<span class=\"_ _0\"></span> the nearest total<span class=\"_ _0\"></span> or sub-total calculated in<span class=\"_ _0\"></span> accordance with IFRS. <span class=\"_ _166\"> </span>It i<span class=\"_ _2\"></span>s exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he ad<span class=\"_ _2\"></span>opt<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e new s<span class=\"_ _2\"></span>tan<span class=\"_ _2\"></span>dar<span class=\"_ _2\"></span>d wil<span class=\"_ _2\"></span>l imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t the s<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ruc<span class=\"_ _2\"></span>tu<span class=\"_ _2\"></span>re of th<span class=\"_ _2\"></span>e Group\u2019s<span class=\"_ _0\"></span> income and<span class=\"_ _0\"></span> cash flow statements<span class=\"_ _2\"></span>. 3 <span class=\"_ _7\"> </span>N<span class=\"_ _2\"></span>ot ye<span class=\"_ _2\"></span>t end<span class=\"_ _2\"></span>ors<span class=\"_ _2\"></span>ed by t<span class=\"_ _2\"></span>he U<span class=\"_ _2\"></span>K End<span class=\"_ _2\"></span>ors<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nt Bo<span class=\"_ _2\"></span>ard<span class=\"_ _2\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-501": {
   "value": "Standards, interpretations<span class=\"_ _0\"></span> and amendments to published standards which are not yet effect<span class=\"_ _2\"></span>ive<span class=\"_ _314\"> </span>Ne<span class=\"_ _2\"></span>w and am<span class=\"_ _2\"></span>ende<span class=\"_ _2\"></span>d st<span class=\"_ _2\"></span>anda<span class=\"_ _2\"></span>rds t<span class=\"_ _2\"></span>hat hav<span class=\"_ _2\"></span>e been i<span class=\"_ _2\"></span>ssu<span class=\"_ _2\"></span>ed, bu<span class=\"_ _2\"></span>t are no<span class=\"_ _2\"></span>t yet ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive, u<span class=\"_ _2\"></span>p to th<span class=\"_ _2\"></span>e date of t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s fi<span class=\"_ _2\"></span>nanc<span class=\"_ _2\"></span>ial s<span class=\"_ _2\"></span>tate<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s are<span class=\"_ _2\"></span> disclosed below<span class=\"_ _0\"></span>. The Group intends<span class=\"_ _0\"></span> to adopt these, if<span class=\"_ _0\"></span> applicabl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span>, wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>ey beco<span class=\"_ _2\"></span>me ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive.<span class=\"_ _314\"> </span><table class=\"s w201 h224\" id=\"_bf8b1a1b-4376-45c2-8125-7c05cba123e0\"><tr><td class=\"c n x1eb y2112 w202 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls27 ws43\">International accounting standards and<span class=\"_ _0\"></span> interpretations<span class=\"_ _314\"> </span></div></td><td class=\"c n x40f y2112 w203 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls12 ws44\">Ef<span class=\"_ _2\"></span>fecti<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> date<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x410 h193 y2113 ff71 fs129 fc1 sc0 ls21 ws3\">Am<span class=\"_ _2\"></span>end<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s to I<span class=\"_ _2\"></span>FRS 9 <span class=\"ff74 ls71 ws9e\">Financi<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> Inst<span class=\"_ _2\"></span>ruments<span class=\"ff71 ls21 ws3\"> and I<span class=\"_ _2\"></span>FRS</span></span><span class=\"ff74 ls71 ws9e\"><span class=\"ff71 ls21 ws3\"><span class=\"_ _2\"></span> </span></span></td><td class=\"t m0 x411 h193 y2114 ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>26<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x410 h193 y2115 ff71 fs129 fc1 sc0 ls6a ws1\">7 <span class=\"ff74 ls95 ws9e\">Financial Instruments: Disclosures</span><span class=\"ls7b wsb4\"> \u2013<span class=\"_ _0\"></span> Clas<span class=\"_ _2\"></span>sificat<span class=\"_ _2\"></span>ion</span><span class=\"ls7b wsb4\"> </span></td><td></td></tr><tr><td class=\"c x1eb y2117 w204 h226\"><div class=\"t m0 x1e4 h193 y2116 ff71 fs129 fc1 sc0 ls6c ws7e\">and measurement<span class=\"_ _0\"></span> of financial instrument<span class=\"_ _2\"></span>s and<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">contrac<span class=\"_ _2\"></span>ts re<span class=\"_ _0\"></span>ferencing natur<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-dependent elect<span class=\"_ _2\"></span>ricity<span class=\"_ _314\"> </span></div><div class=\"t m0 x412 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c x1eb y2118 w205 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Annual improvements to<span class=\"_ _0\"></span> IFRS</div><div class=\"t m0 x413 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x411 h193 y2119 ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>26<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x410 h193 y211a ff71 fs129 fc1 sc0 ls6a ws3\">IF<span class=\"_ _2\"></span>RS 1<span class=\"_ _2\"></span>8 <span class=\"ff74 ls95 ws9e\">Pr<span class=\"_ _0\"></span>esentation and Disclosure<span class=\"_ _0\"></span> in Financial</span><span class=\"ff74 ls95 ws9e\"> </span></td><td class=\"t m0 x414 h193 y211b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>27<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c x1eb y211e w206 h227\"><div class=\"t m0 x1e4 h1dd y211c ff74 fs129 fc1 sc0 lsa7 wsd3\">Statements</div><div class=\"t m0 x415 h194 y211d ff71 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"t m0 x410 h193 y211f ff71 fs129 fc1 sc0 ls6a ws3\">IF<span class=\"_ _2\"></span>RS 19 <span class=\"ff74 ls76 ws5\">Subsidiaries without Public<span class=\"_ _0\"></span> Account<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>y:</span><span class=\"ff74 ls76 ws5\"> </span></td><td class=\"c x417 y2121 w207 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls26 ws3\">1 Ja<span class=\"_ _2\"></span>nuar<span class=\"_ _2\"></span>y 2027</div><div class=\"t m0 x416 h199 y2120 ff71 fs12b fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w208 h228\"><div class=\"t m0 x1e4 h1dd y2122 ff74 fs129 fc1 sc0 ls95 wsc2\">Disclosures</div><div class=\"t m0 x418 h194 y2123 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td></tr></table>1 <span class=\"_ _c\"> </span>These amendments are<span class=\"_ _0\"></span> not expected to<span class=\"_ _0\"></span> have a mat<span class=\"_ _0\"></span>erial impact on the Group<span class=\"_ _0\"></span>\u2019s financial statements<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>IFRS<span class=\"_ _0\"></span> 18 replaces IAS 1<span class=\"_ _0\"></span> and sets out significant new r<span class=\"_ _0\"></span>equirements for how<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial statements are presented<span class=\"_ _0\"></span> with par<span class=\"_ _2\"></span>ticular f<span class=\"_ _0\"></span>ocus on: <span class=\"_ _22e\"></span>\u2013 <span class=\"ls8e ws48\">the income<span class=\"_ _0\"></span> statement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> including requirements for<span class=\"_ _0\"></span> mandatory sub<span class=\"_ _2\"></span>-totals<span class=\"_ _0\"></span> to be present<span class=\"_ _0\"></span>ed;</span> <span class=\"_ _22e\"></span>\u2013 <span class=\"ls29 ws47\">aggregation<span class=\"_ _0\"></span> and disaggregation of information, including the<span class=\"_ _0\"></span> introduc<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> overall </span>principles for how<span class=\"_ _0\"></span> information should be aggr<span class=\"_ _0\"></span>egated and disaggregated in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial statements; <span class=\"_ _22e\"></span>\u2013 <span class=\"ls7 ws48\">disclosur<span class=\"_ _0\"></span>es related<span class=\"_ _0\"></span> to management-defined per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> measures (MPMs), which </span>are measur<span class=\"_ _0\"></span>es of financial performance based<span class=\"_ _0\"></span> on a t<span class=\"_ _0\"></span>otal or sub-total required<span class=\"_ _0\"></span> by IF<span class=\"_ _2\"></span>RS w<span class=\"_ _2\"></span>ith a<span class=\"_ _2\"></span>dju<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts m<span class=\"_ _2\"></span>ade (<span class=\"_ _2\"></span>e.g.<span class=\"_ _2\"></span>, adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>ted pr<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>it or l<span class=\"_ _2\"></span>oss<span class=\"_ _2\"></span>). En<span class=\"_ _2\"></span>tit<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>s wil<span class=\"_ _2\"></span>l be re<span class=\"_ _2\"></span>quir<span class=\"_ _2\"></span>ed to<span class=\"_ _2\"></span> disclose MPMs in the<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> statement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> with disclosures, including r<span class=\"_ _0\"></span>econciliations of MPMs to<span class=\"_ _0\"></span> the nearest total<span class=\"_ _0\"></span> or sub-total calculated in<span class=\"_ _0\"></span> accordance with IFRS. <span class=\"_ _166\"> </span>It i<span class=\"_ _2\"></span>s exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he ad<span class=\"_ _2\"></span>opt<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e new s<span class=\"_ _2\"></span>tan<span class=\"_ _2\"></span>dar<span class=\"_ _2\"></span>d wil<span class=\"_ _2\"></span>l imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t the s<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ruc<span class=\"_ _2\"></span>tu<span class=\"_ _2\"></span>re of th<span class=\"_ _2\"></span>e Group\u2019s<span class=\"_ _0\"></span> income and<span class=\"_ _0\"></span> cash flow statements<span class=\"_ _2\"></span>. 3 <span class=\"_ _7\"> </span>N<span class=\"_ _2\"></span>ot ye<span class=\"_ _2\"></span>t end<span class=\"_ _2\"></span>ors<span class=\"_ _2\"></span>ed by t<span class=\"_ _2\"></span>he U<span class=\"_ _2\"></span>K End<span class=\"_ _2\"></span>ors<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nt Bo<span class=\"_ _2\"></span>ard<span class=\"_ _2\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfExpectedImpactOfInitialApplicationOfNewStandardsOrInterpretations",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-580": {
   "value": "<div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls2 ws2 gscd\">1.7 Significant accounting<span class=\"_ _0\"></span> estimates, assumptions </div><div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls51 ws73 gsce\">and judgements<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gscf\">The preparation of<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial statements requires<span class=\"_ _0\"></span> management </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsd0\">to make e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imate<span class=\"_ _2\"></span>s, as<span class=\"_ _2\"></span>sump<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns and j<span class=\"_ _2\"></span>udg<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>hat af<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsd1\">repor<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of revenues, e<span class=\"_ _0\"></span>xpenses<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> liabilities </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsd2\">and the accompanying disclosur<span class=\"_ _0\"></span>es. Es<span class=\"_ _2\"></span>timates, assumptions and </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls9 ws7 gsd3\">judgement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are regularly re<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>iew<span class=\"_ _0\"></span>ed based on historical experience, </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsd4\">current circumstances and<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>tations of future e<span class=\"_ _0\"></span>vent<span class=\"_ _2\"></span>s. As the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsd5\">use of estimates is<span class=\"_ _0\"></span> inherent in financial reporting<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> ac<span class=\"_ _2\"></span>tual r<span class=\"_ _0\"></span>esult<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsd6\">could differ from these estimates.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsd7\">Signif<span class=\"_ _2\"></span>icant ac<span class=\"_ _0\"></span>counting est<span class=\"_ _2\"></span>imates<span class=\"_ _0\"></span> and assumptions are those that </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsd8\">have a r<span class=\"_ _2\"></span>isk of r<span class=\"_ _2\"></span>esul<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g in a mate<span class=\"_ _2\"></span>rial a<span class=\"_ _2\"></span>djus<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ment to t<span class=\"_ _2\"></span>he ca<span class=\"_ _2\"></span>rr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsd9\">amounts of assets and liabilities within the nex<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial y<span class=\"_ _0\"></span>ear<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsda\">Signif<span class=\"_ _2\"></span>icant judgements are those<span class=\"_ _0\"></span> made by management in </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsdb\">applyin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> signif<span class=\"_ _2\"></span>icant acc<span class=\"_ _0\"></span>ounting policies that have </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsdc\">a material<span class=\"_ _0\"></span> impac<span class=\"_ _2\"></span>t on<span class=\"_ _0\"></span> the amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> presented in the financial </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsdd\">statement<span class=\"_ _2\"></span>s. Significant judgement may be e<span class=\"_ _0\"></span>xercised in </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsde\">management\u2019s acc<span class=\"_ _0\"></span>ount<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> es<span class=\"_ _2\"></span>timates<span class=\"_ _0\"></span> and assumptions.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsdf\">Signif<span class=\"_ _2\"></span>icant estimates, assumptions and judgements are described </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gse0\">in the rele<span class=\"_ _0\"></span>vant notes to<span class=\"_ _0\"></span> the f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> st<span class=\"_ _2\"></span>atements (identif<span class=\"_ _2\"></span>ied by<span class=\"_ _0\"></span> the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gse1\">fol<span class=\"_ _2\"></span>lowi<span class=\"_ _2\"></span>ng sy<span class=\"_ _2\"></span>mbo<span class=\"_ _2\"></span>l <span class=\"_ _e2\"> </span><span class=\"ls3e ws72\">).<span class=\"_ _314\"> </span></span></div><div class=\"gse3\"><table class=\"s w209 h229\" id=\"_b6bf256b-7620-44c7-b56d-64b4338978fd\"><tr><td></td><td></td><td class=\"t m0 x41a hb y2124 ff71 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x41b hb y2125 ff71 fs6 fc1 sc0 ls27 ws43\">estimates and </td><td class=\"t m0 x41c hb y2125 ff71 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td></tr><tr><td class=\"t m0 x41d hb y2126 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></td><td></td><td class=\"t m0 x41e hb y2126 ff71 fs6 fc1 sc0 ls41 ws56\">assumptions<span class=\"_ _314\"> </span></td><td class=\"t m0 x41f hb y2126 ff71 fs6 fc1 sc0 ls27 ws45\">judgement<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y2127 w20a h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">4</div></td><td class=\"c n x420 y2127 w20b h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Supplier/partner discounts<span class=\"_ _314\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2128 w20c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">6.3</div></td><td class=\"c n x421 y2128 w20d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Uncert<span class=\"_ _2\"></span>ain<span class=\"_ _0\"></span> tax positions<span class=\"_ _314\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2129 w9d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">9</div></td><td class=\"c n x422 y2129 w20e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Recoverable amounts of certain CGUs<span class=\"_ _314\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c n x1eb y212a w9d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">9</div></td><td class=\"c n x422 y212a w20f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">E<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>ted u<span class=\"_ _2\"></span>sefu<span class=\"_ _2\"></span>l econ<span class=\"_ _2\"></span>omi<span class=\"_ _2\"></span>c live<span class=\"_ _2\"></span>s of<span class=\"_ _314\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x423 h193 y212b ff71 fs129 fc1 sc0 ls76 ws5\">material purchased<span class=\"_ _0\"></span> intangibl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y212c w210 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">12</div></td><td class=\"c n x424 y212c w211 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Recognition of<span class=\"_ _0\"></span> pension surplus<span class=\"_ _314\"> </span></div></td><td></td><td></td></tr><tr><td class=\"c n x1eb y212d w210 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">12</div></td><td class=\"c n x424 y212d w212 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t pres<span class=\"_ _2\"></span>ent va<span class=\"_ _2\"></span>lue o<span class=\"_ _2\"></span>f pens<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x423 h193 y212e ff71 fs129 fc1 sc0 ls6c ws7e\">and liabilities</td><td></td><td></td></tr></table></div>Significant accounting judgement<span class=\"_ _314\"> </span>Supplier/<span class=\"_ _0\"></span>par<span class=\"_ _2\"></span>tner<span class=\"_ _0\"></span> discounts<span class=\"_ _314\"> </span>The Group e<span class=\"_ _0\"></span>xercises judgement when<span class=\"_ _0\"></span> discount<span class=\"_ _2\"></span>s from<span class=\"_ _0\"></span> suppliers<span class=\"_ _314\"> </span> and part<span class=\"_ _2\"></span>ners are<span class=\"_ _0\"></span> recognised. That is, whether discounts are<span class=\"_ _314\"> </span> deduc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed as expenses arise or<span class=\"_ _0\"></span> spread over<span class=\"_ _0\"></span> the contrac<span class=\"_ _2\"></span>t term.<span class=\"_ _314\"> </span> Cer<span class=\"_ _2\"></span>tain time- and value-<span class=\"_ _2\"></span>limited discounts in<span class=\"_ _0\"></span> relation to the 10<span class=\"_ _2\"></span>-year<span class=\"_ _314\"> </span> str<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>egic par<span class=\"_ _2\"></span>tnership with Microsof<span class=\"_ _2\"></span>t ar<span class=\"_ _0\"></span>e deduc<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> as expenses<span class=\"_ _314\"> </span> arise. In making this<span class=\"_ _0\"></span> asses<span class=\"_ _2\"></span>sment, management c<span class=\"_ _0\"></span>onsidered the<span class=\"_ _314\"> </span> contrac<span class=\"_ _2\"></span>tual<span class=\"_ _0\"></span> perio<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> during which the Group has ac<span class=\"_ _0\"></span>cess to the<span class=\"_ _314\"> </span> discounts and the nature<span class=\"_ _0\"></span> of any claw-back mechanisms in<span class=\"_ _0\"></span> place.<span class=\"_ _314\"> </span>Significant accounting judgement and estimates<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p is sub<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>t to ta<span class=\"_ _2\"></span>xati<span class=\"_ _2\"></span>on in t<span class=\"_ _2\"></span>he man<span class=\"_ _2\"></span>y coun<span class=\"_ _2\"></span>tri<span class=\"_ _2\"></span>es in wh<span class=\"_ _2\"></span>ich it o<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>. The ta<span class=\"_ _2\"></span>x leg<span class=\"_ _2\"></span>isla<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of the<span class=\"_ _2\"></span>se cou<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ies di<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fers<span class=\"_ _2\"></span>, is of<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>n com<span class=\"_ _2\"></span>plex a<span class=\"_ _2\"></span>nd can b<span class=\"_ _2\"></span>e subj<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t to inte<span class=\"_ _2\"></span>rpre<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ion by ma<span class=\"_ _2\"></span>nag<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>t and government authorities. These matter<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of judgement som<span class=\"_ _2\"></span>eti<span class=\"_ _2\"></span>mes gi<span class=\"_ _2\"></span>ve ri<span class=\"_ _2\"></span>se to th<span class=\"_ _2\"></span>e nee<span class=\"_ _2\"></span>d to create p<span class=\"_ _2\"></span>rovi<span class=\"_ _2\"></span>sion<span class=\"_ _2\"></span>s for ta<span class=\"_ _2\"></span>x pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>hat ma<span class=\"_ _2\"></span>y ari<span class=\"_ _2\"></span>se in fu<span class=\"_ _2\"></span>ture y<span class=\"_ _2\"></span>ears w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h resp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t to transac<span class=\"_ _2\"></span>tions already undertaken. Provisions are<span class=\"_ _0\"></span> made against individual exposures and tak<span class=\"_ _0\"></span>e into account the specific circumstances of each<span class=\"_ _0\"></span> case, including the st<span class=\"_ _2\"></span>ren<span class=\"_ _2\"></span>gth o<span class=\"_ _2\"></span>f techn<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>l argum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s, re<span class=\"_ _2\"></span>cent c<span class=\"_ _2\"></span>ase l<span class=\"_ _2\"></span>aw deci<span class=\"_ _2\"></span>sion<span class=\"_ _2\"></span>s or rulings on similar<span class=\"_ _0\"></span> issues and relevant e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>ternal advice.<span class=\"_ _0\"></span> In accordance wi<span class=\"_ _2\"></span>th I<span class=\"_ _2\"></span>FRI<span class=\"_ _2\"></span>C 23 <span class=\"ff74\">Unc<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>taint<span class=\"_ _2\"></span>y over In<span class=\"_ _2\"></span>come T<span class=\"_ _0\"></span>ax T<span class=\"_ _0\"></span>re<span class=\"_ _2\"></span>atme<span class=\"_ _2\"></span>nts<span class=\"ff71 ls10 ws20\">, provisions </span></span>are e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imate<span class=\"_ _2\"></span>d base<span class=\"_ _2\"></span>d on on<span class=\"_ _2\"></span>e of tw<span class=\"_ _2\"></span>o met<span class=\"_ _2\"></span>hods<span class=\"_ _2\"></span>: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">The e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d valu<span class=\"_ _2\"></span>e met<span class=\"_ _2\"></span>hod (<span class=\"_ _2\"></span>the s<span class=\"_ _2\"></span>um of th<span class=\"_ _2\"></span>e prob<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y </span>weighted amounts in a<span class=\"_ _0\"></span> range of possible outcomes<span class=\"_ _0\"></span>) <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The single most lik<span class=\"_ _0\"></span>ely amount method<span class=\"_ _314\"> </span></span>The m<span class=\"_ _2\"></span>eth<span class=\"_ _2\"></span>od cho<span class=\"_ _2\"></span>sen de<span class=\"_ _2\"></span>pen<span class=\"_ _2\"></span>ds on w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d to bet<span class=\"_ _2\"></span>ter<span class=\"_ _2\"></span> predict the resolution of the uncertaint<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Due to<span class=\"_ _0\"></span> the uncer<span class=\"_ _2\"></span>taint<span class=\"_ _2\"></span>y as<span class=\"_ _2\"></span>soci<span class=\"_ _2\"></span>ated w<span class=\"_ _2\"></span>ith t<span class=\"_ _2\"></span>ax au<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>s i<span class=\"_ _2\"></span>t is pos<span class=\"_ _2\"></span>sib<span class=\"_ _2\"></span>le tha<span class=\"_ _2\"></span>t, a<span class=\"_ _2\"></span>t some f<span class=\"_ _2\"></span>utu<span class=\"_ _2\"></span>re date,<span class=\"_ _2\"></span> liabilities resulting from such<span class=\"_ _0\"></span> audit<span class=\"_ _2\"></span>s or<span class=\"_ _0\"></span> related litigation could vary sig<span class=\"_ _2\"></span>nif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant<span class=\"_ _2\"></span>ly fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s p<span class=\"_ _2\"></span>rovi<span class=\"_ _2\"></span>sions<span class=\"_ _2\"></span>. Thi<span class=\"_ _2\"></span>s woul<span class=\"_ _2\"></span>d requ<span class=\"_ _2\"></span>ire th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up to ma<span class=\"_ _2\"></span>ke an adju<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t in a sub<span class=\"_ _2\"></span>sequ<span class=\"_ _2\"></span>ent p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d whi<span class=\"_ _2\"></span>ch coul<span class=\"_ _2\"></span>d have a m<span class=\"_ _2\"></span>ater<span class=\"_ _2\"></span>ial im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t on t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s resul<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span><span class=\"_ _2\"></span>.<div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs303\"> <span class=\"_ _2\"></span>Significant accounting estimates and<span class=\"_ _0\"></span> assumptions<span class=\"_ _314\"> </span></div><div class=\"t m2 h15 ff73 fs2 fc1 sc0 ls6 ws7 gs304\">Recov<span class=\"_ _0\"></span>erable amounts of certain CGUs<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs305\">The reco<span class=\"_ _0\"></span>verable amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of CGUs are<span class=\"_ _0\"></span> based on value-<span class=\"_ _2\"></span>in-<span class=\"_ _2\"></span>use </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls7 wsa gs306\">calculations<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The value<span class=\"_ _2\"></span>-in<span class=\"_ _2\"></span>-use calculations use cash flow </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs307\">project<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> based on business plans prepar<span class=\"_ _0\"></span>ed by management </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs308\">for the three-year period ending 31 December<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>8. In assessing </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs309\">value-<span class=\"_ _2\"></span>in-<span class=\"_ _2\"></span>use,<span class=\"_ _0\"></span> the est<span class=\"_ _2\"></span>imated<span class=\"_ _0\"></span> future cash flow<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are discounted </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs30a\">to th<span class=\"_ _2\"></span>eir pr<span class=\"_ _2\"></span>esen<span class=\"_ _2\"></span>t valu<span class=\"_ _2\"></span>e usin<span class=\"_ _2\"></span>g a pre<span class=\"_ _2\"></span>-t<span class=\"_ _2\"></span>ax di<span class=\"_ _2\"></span>scoun<span class=\"_ _2\"></span>t rate t<span class=\"_ _2\"></span>hat ref<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ts </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs30b\">current mark<span class=\"_ _0\"></span>et assessment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the time value of<span class=\"_ _0\"></span> money and the </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs30c\">ri<span class=\"_ _2\"></span>sks sp<span class=\"_ _2\"></span>eci<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>c to the C<span class=\"_ _2\"></span>GUs<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m2 h15 ff73 fs2 fc1 sc0 ls7 wsa gs30d\">Estimated useful economic lives of<span class=\"_ _0\"></span> material purchased </div><div class=\"t m2 h15 ff73 fs2 fc1 sc0 ls7 wsa gs30e\">intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs30f\">Intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are amor<span class=\"_ _2\"></span>tised over<span class=\"_ _0\"></span> their estimated useful </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs310\">economic lives, being m<span class=\"_ _0\"></span>anagement<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>s best est<span class=\"_ _2\"></span>imat<span class=\"_ _0\"></span>e of the </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs311\">period over which<span class=\"_ _0\"></span> value from the intangible assets is realised. </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs312\">In determining use<span class=\"_ _0\"></span>ful economic life f<span class=\"_ _0\"></span>or customer and supplier </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls10 ws20 gs313\">relationships,<span class=\"_ _0\"></span> brands and databases<span class=\"_ _0\"></span> and content, man<span class=\"_ _0\"></span>agement </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs314\">considers a number o<span class=\"_ _0\"></span>f fac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> including: customer att<span class=\"_ _2\"></span>rition rates; </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs315\">market<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>ticipant perspec<span class=\"_ _2\"></span>tives of brands; and<span class=\"_ _0\"></span> pace of ch<span class=\"_ _0\"></span>ange </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls7 wsa gs316\">of regulation.<span class=\"_ _314\"> </span></div>Significant accounting judgement<span class=\"_ _314\"> </span>Recognition of a pension surplus<span class=\"_ _314\"> </span>The Group judges that, on the gradual<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement of the<span class=\"_ _0\"></span> def<span class=\"_ _2\"></span>ined benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> schemes, it can expect any remaining pension<span class=\"_ _0\"></span> surplus to be ref<span class=\"_ _2\"></span>und<span class=\"_ _2\"></span>ed in f<span class=\"_ _2\"></span>ull to t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up. In l<span class=\"_ _2\"></span>ine w<span class=\"_ _2\"></span>ith t<span class=\"_ _2\"></span>he cu<span class=\"_ _2\"></span>rren<span class=\"_ _2\"></span>t accou<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ng standards, it therefore<span class=\"_ _0\"></span> continues to recognise<span class=\"_ _0\"></span> these retirement benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s on<span class=\"_ _0\"></span> the balance sheet in<span class=\"_ _0\"></span> full.<div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs380\"> <span class=\"_ _2\"></span>Significant accounting estimates and<span class=\"_ _0\"></span> assumptions<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls7 wsa gs310\">Net present value of<span class=\"_ _0\"></span> pension asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and liabilities<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs311\">Defined benef<span class=\"_ _2\"></span>it pension<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are determined based<span class=\"_ _0\"></span> on the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs312\">present<span class=\"_ _0\"></span> value of future<span class=\"_ _0\"></span> pension obligations<span class=\"_ _0\"></span> using assumptions </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs313\">determined by<span class=\"_ _0\"></span> the Group with adv<span class=\"_ _2\"></span>ice<span class=\"_ _0\"></span> from an independent </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs314\">qualif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> ac<span class=\"_ _2\"></span>tuary. An actuarial valuation involves<span class=\"_ _0\"></span> making various </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs315\">as<span class=\"_ _2\"></span>sump<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t may di<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fer fro<span class=\"_ _2\"></span>m what a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>uall<span class=\"_ _2\"></span>y hap<span class=\"_ _2\"></span>pens i<span class=\"_ _2\"></span>n </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs316\">the future.<span class=\"_ _314\"> </span></div>The a<span class=\"_ _2\"></span>ssu<span class=\"_ _2\"></span>mpt<span class=\"_ _2\"></span>ions t<span class=\"_ _2\"></span>hat ar<span class=\"_ _2\"></span>e the m<span class=\"_ _2\"></span>ost s<span class=\"_ _2\"></span>igni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t to the a<span class=\"_ _2\"></span>moun<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span> repor<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed for the significant define<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it schemes<span class=\"_ _0\"></span> are the discount rate,<span class=\"_ _0\"></span> the inf<span class=\"_ _2\"></span>lation rat<span class=\"_ _0\"></span>e, pension increases<span class=\"_ _0\"></span> and mor<span class=\"_ _2\"></span>talit<span class=\"_ _2\"></span>y levels. Assumptions about these variables are based on<span class=\"_ _0\"></span> the environment in each<span class=\"_ _0\"></span> countr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Due to<span class=\"_ _0\"></span> the complexit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> involved in a valuation, and its long-<span class=\"_ _2\"></span>term<span class=\"_ _0\"></span> nature, a<span class=\"_ _0\"></span> def<span class=\"_ _2\"></span>ined bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it obligation is highly sensitive to ch<span class=\"_ _0\"></span>anges in these assumptions. In par<span class=\"_ _2\"></span>ticular<span class=\"_ _0\"></span>, cha<span class=\"_ _2\"></span>nges t<span class=\"_ _2\"></span>o the d<span class=\"_ _2\"></span>iscou<span class=\"_ _2\"></span>nt ra<span class=\"_ _2\"></span>te and in<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on rate c<span class=\"_ _2\"></span>ould re<span class=\"_ _2\"></span>sul<span class=\"_ _2\"></span>t in material changes<span class=\"_ _0\"></span> to the carr<span class=\"_ _2\"></span>ying amounts of the Group<span class=\"_ _0\"></span>\u2019s pension and other post-retirement benefit obligat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin the ne<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>t financial year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-477": {
   "value": "<div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls2 ws2 gse5\">1.8 Climate change<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gse6\">We have co<span class=\"_ _2\"></span>nsid<span class=\"_ _2\"></span>ered t<span class=\"_ _2\"></span>he im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t of cl<span class=\"_ _2\"></span>imate c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e on th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gse7\">op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>s as ou<span class=\"_ _2\"></span>tli<span class=\"_ _2\"></span>ned in t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sks d<span class=\"_ _2\"></span>iscl<span class=\"_ _2\"></span>osed o<span class=\"_ _2\"></span>n pag<span class=\"_ _2\"></span>es 40 to 41 of<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gse8\">th<span class=\"_ _2\"></span>e Str<span class=\"_ _2\"></span>ateg<span class=\"_ _2\"></span>ic Repo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>t as wel<span class=\"_ _2\"></span>l as in t<span class=\"_ _2\"></span>he Sus<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>inab<span class=\"_ _2\"></span>ilit<span class=\"_ _2\"></span>y Re<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>. We </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gse9\">have also<span class=\"_ _0\"></span> reviewed the potential impact of cl<span class=\"_ _0\"></span>imate change on<span class=\"_ _0\"></span> the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsea\">Group\u2019<span class=\"_ _0\"></span>s financial results and position. The areas that ar<span class=\"_ _0\"></span>e deemed </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gseb\">to be<span class=\"_ _0\"></span> mos<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> relevant to clima<span class=\"_ _0\"></span>te change are<span class=\"_ _0\"></span> set out below<span class=\"_ _0\"></span>. Based </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsec\">on an assessment in<span class=\"_ _0\"></span> each area, we<span class=\"_ _0\"></span> have concluded<span class=\"_ _0\"></span> that climate </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsed\">cha<span class=\"_ _2\"></span>nge is n<span class=\"_ _2\"></span>ot cur<span class=\"_ _2\"></span>rent<span class=\"_ _2\"></span>ly ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d to have a ma<span class=\"_ _2\"></span>teria<span class=\"_ _2\"></span>l impa<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>n the<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsee\">Group\u2019<span class=\"_ _0\"></span>s financial position<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> est<span class=\"_ _2\"></span>imates<span class=\"_ _0\"></span> or judgement<span class=\"_ _2\"></span>s. The<span class=\"_ _0\"></span> Direc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls10 ws20 gsef\">monitor this<span class=\"_ _0\"></span> on an ongoing<span class=\"_ _0\"></span> basis.</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gsf0\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 lsc ws41\">Going concern and<span class=\"_ _0\"></span> viabili<span class=\"_ _2\"></span>ty <span class=\"ff71 ls3 ws3\">\u2013 The G<span class=\"_ _2\"></span>roup h<span class=\"_ _2\"></span>as a lon<span class=\"_ _2\"></span>g-<span class=\"_ _2\"></span>ter<span class=\"_ _2\"></span>m </span></span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsf1\">amb<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ion to ac<span class=\"_ _2\"></span>hieve n<span class=\"_ _2\"></span>et zero by 20<span class=\"_ _2\"></span>40 an<span class=\"_ _2\"></span>d has set t<span class=\"_ _2\"></span>arge<span class=\"_ _2\"></span>ts to<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsf2\">red<span class=\"_ _2\"></span>uce sel<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted c<span class=\"_ _2\"></span>arbo<span class=\"_ _2\"></span>n emi<span class=\"_ _2\"></span>ssio<span class=\"_ _2\"></span>ns by 50<span class=\"_ _2\"></span>% by 2030<span class=\"_ _2\"></span>. There i<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsf3\">no other direct impact on the viabilit<span class=\"_ _2\"></span>y o<span class=\"_ _0\"></span>f the Group. There<span class=\"_ _0\"></span> is </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsf4\">no climate-related scenario<span class=\"_ _0\"></span> that is deemed to ha<span class=\"_ _0\"></span>ve a probable </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsf5\">likelihood o<span class=\"_ _0\"></span>f occurring which could impact the Group<span class=\"_ _0\"></span>\u2019s going </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsf6\">concern assessment.</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gsf7\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls4a ws12a\">Revenu<span class=\"_ _2\"></span>e</span><span class=\"ls3\"> \u2013 We provi<span class=\"_ _2\"></span>de a ra<span class=\"_ _2\"></span>nge of c<span class=\"_ _2\"></span>limat<span class=\"_ _2\"></span>e-<span class=\"_ _2\"></span>rela<span class=\"_ _2\"></span>ted pro<span class=\"_ _2\"></span>duc<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s and </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsf8\">ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices s<span class=\"_ _2\"></span>uch as a<span class=\"_ _2\"></span>dmi<span class=\"_ _2\"></span>ssio<span class=\"_ _2\"></span>n on th<span class=\"_ _2\"></span>e sus<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e bond m<span class=\"_ _2\"></span>arket </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsf9\">and environmental, social and<span class=\"_ _0\"></span> governance (ESG) indices. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsfa\">Revenue<span class=\"_ _0\"></span> earned from these suppor<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> the Group and enable </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsfb\">others to mak<span class=\"_ _0\"></span>e sustainable invest<span class=\"_ _2\"></span>ment<span class=\"_ _0\"></span> decisions aligned with </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gsfc\">their ESG objecti<span class=\"_ _2\"></span>ves.</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gsfd\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls7 ws66\">Expenses</span><span class=\"ls3\"> \u2013 O<span class=\"_ _2\"></span>ur mai<span class=\"_ _2\"></span>n oper<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng cos<span class=\"_ _2\"></span>t rela<span class=\"_ _2\"></span>tes to ou<span class=\"_ _2\"></span>r sta<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>f </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsfe\">cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s, fol<span class=\"_ _2\"></span>lowed b<span class=\"_ _2\"></span>y IT cos<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>. A<span class=\"_ _2\"></span>s a glob<span class=\"_ _2\"></span>al bus<span class=\"_ _2\"></span>ines<span class=\"_ _2\"></span>s, so<span class=\"_ _2\"></span>me of </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gsff\">our p<span class=\"_ _2\"></span>eop<span class=\"_ _2\"></span>le wi<span class=\"_ _2\"></span>ll tr<span class=\"_ _2\"></span>avel ove<span class=\"_ _2\"></span>rse<span class=\"_ _2\"></span>as to se<span class=\"_ _2\"></span>e cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>rs or t<span class=\"_ _2\"></span>hei<span class=\"_ _2\"></span>r teams<span class=\"_ _2\"></span>. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs100\">We<span class=\"_ _0\"></span> encourage responsible business travel. T<span class=\"_ _3\"></span>o suppor<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> our </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs101\">long-<span class=\"_ _2\"></span>term<span class=\"_ _0\"></span> ambit<span class=\"_ _2\"></span>ion t<span class=\"_ _0\"></span>o achieve ne<span class=\"_ _0\"></span>t zer<span class=\"_ _0\"></span>o, the Group purch<span class=\"_ _0\"></span>ases </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs102\">carbon credits and energy att<span class=\"_ _2\"></span>ribute c<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>tif<span class=\"_ _2\"></span>icates t<span class=\"_ _0\"></span>o of<span class=\"_ _2\"></span>fset the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs103\">impact of the Group\u2019<span class=\"_ _0\"></span>s carbon emissions. The cost of<span class=\"_ _0\"></span> purchasing </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs104\">these was not ma<span class=\"_ _0\"></span>terial during the year<span class=\"_ _0\"></span>. Carbon credits are </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs105\">pur<span class=\"_ _2\"></span>chas<span class=\"_ _2\"></span>ed once t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s emi<span class=\"_ _2\"></span>ssi<span class=\"_ _2\"></span>ons for t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r have </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 lsf ws48 gs106\">been calcu<span class=\"_ _0\"></span>lated.</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs107\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls6 ws7\">Impairment of<span class=\"_ _0\"></span> goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> and intangible assets<span class=\"ff71 ls10 ws20\"> \u2013 For<span class=\"_ _0\"></span>ecas<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> </span></span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs108\">ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>lows a<span class=\"_ _2\"></span>re not ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>o be imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>ted mat<span class=\"_ _2\"></span>eria<span class=\"_ _2\"></span>lly by<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs109\">cli<span class=\"_ _2\"></span>mate ch<span class=\"_ _2\"></span>ange o<span class=\"_ _2\"></span>ver th<span class=\"_ _2\"></span>e per<span class=\"_ _2\"></span>iod for w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h forec<span class=\"_ _2\"></span>ast<span class=\"_ _2\"></span>s ha<span class=\"_ _2\"></span>ve bee<span class=\"_ _2\"></span>n </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs10a\">pre<span class=\"_ _2\"></span>pared<span class=\"_ _2\"></span>, due to t<span class=\"_ _2\"></span>he na<span class=\"_ _2\"></span>ture of t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s reven<span class=\"_ _2\"></span>ue st<span class=\"_ _2\"></span>ream<span class=\"_ _2\"></span>s. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs10b\">The impact on costs mainly relates<span class=\"_ _0\"></span> to employee travel, pr<span class=\"_ _0\"></span>oper<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs10c\">cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s and da<span class=\"_ _2\"></span>ta cen<span class=\"_ _2\"></span>tre cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s.</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs10d\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls7 wsa\">Useful lives of<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span><span class=\"ff71 ls3 ws3\"> \u2013 Th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s phys<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts co<span class=\"_ _2\"></span>nsis<span class=\"_ _2\"></span>t </span></span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs10e\">mai<span class=\"_ _2\"></span>nly o<span class=\"_ _2\"></span>f prope<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y and IT e<span class=\"_ _2\"></span>quip<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t. G<span class=\"_ _2\"></span>iven t<span class=\"_ _2\"></span>he t<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>pe of IT </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs10f\">eq<span class=\"_ _2\"></span>uipm<span class=\"_ _2\"></span>ent ow<span class=\"_ _2\"></span>ned by t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup, we d<span class=\"_ _2\"></span>o not ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t cl<span class=\"_ _2\"></span>imate </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs110\">change to<span class=\"_ _0\"></span> impac<span class=\"_ _2\"></span>t the future<span class=\"_ _0\"></span> useful lives of these assets. The </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls9 ws7 gs111\">useful lives of<span class=\"_ _0\"></span> our proper<span class=\"_ _2\"></span>ty could be impacted by<span class=\"_ _0\"></span> climate change </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs112\">in t<span class=\"_ _2\"></span>he for<span class=\"_ _2\"></span>m of phy<span class=\"_ _2\"></span>sica<span class=\"_ _2\"></span>l obs<span class=\"_ _2\"></span>oles<span class=\"_ _2\"></span>cence of a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts o<span class=\"_ _2\"></span>r bec<span class=\"_ _2\"></span>ause of a<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs113\">natural disaster (such<span class=\"_ _0\"></span> as fl<span class=\"_ _2\"></span>ooding),<span class=\"_ _0\"></span> however any<span class=\"_ _0\"></span> such impact on </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls48 ws72 gs114\">th<span class=\"_ _2\"></span>e car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g valu<span class=\"_ _2\"></span>e of rela<span class=\"_ _2\"></span>ted as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s is not e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d to be ma<span class=\"_ _2\"></span>teria<span class=\"_ _2\"></span>l. </div>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls6 ws7\">Deferred tax assets</span><span class=\"ls3\"> \u2013 Defer<span class=\"_ _2\"></span>red ta<span class=\"_ _2\"></span>x ass<span class=\"_ _2\"></span>et recov<span class=\"_ _2\"></span>erab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>ty c<span class=\"_ _2\"></span>an be<span class=\"_ _2\"></span> </span>af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ted b<span class=\"_ _2\"></span>y clim<span class=\"_ _2\"></span>ate if t<span class=\"_ _2\"></span>here i<span class=\"_ _2\"></span>s an exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ion t<span class=\"_ _2\"></span>hat i<span class=\"_ _2\"></span>t will i<span class=\"_ _2\"></span>mpac<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e fut<span class=\"_ _2\"></span>ure ta<span class=\"_ _2\"></span>xabl<span class=\"_ _2\"></span>e prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>hat are ex<span class=\"_ _2\"></span>pe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d to be ge<span class=\"_ _2\"></span>nera<span class=\"_ _2\"></span>ted.<span class=\"_ _2\"></span> Ou<span class=\"_ _2\"></span>r taxa<span class=\"_ _2\"></span>ble p<span class=\"_ _2\"></span>rof<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s are dr<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>n by our rev<span class=\"_ _2\"></span>enue a<span class=\"_ _2\"></span>nd exp<span class=\"_ _2\"></span>ense<span class=\"_ _2\"></span>s, discussed above. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 lsc ws41\">V<span class=\"_ _0\"></span>aluation of pension scheme assets and define<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it </span>liabilities<span class=\"ff71 ls6 ws7\"> \u2013 Changes in<span class=\"_ _0\"></span> interest rates, as a<span class=\"_ _0\"></span> result of clim<span class=\"_ _0\"></span>ate </span>change, could<span class=\"_ _0\"></span> impac<span class=\"_ _2\"></span>t the<span class=\"_ _0\"></span> fu<span class=\"_ _2\"></span>ture<span class=\"_ _0\"></span> valuation of pension scheme assets and defined benef<span class=\"_ _2\"></span>it liabilities. There<span class=\"_ _0\"></span> was no discernible impact from climate ch<span class=\"_ _0\"></span>ange on the current year\u2019<span class=\"_ _0\"></span>s valuation. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls7 wsa\">T<span class=\"_ _3\"></span>ra<span class=\"_ _2\"></span>de<span class=\"_ _0\"></span> receivables<span class=\"ff71 ls3 ws3\"> \u2013 Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has a di<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>se cli<span class=\"_ _2\"></span>ent b<span class=\"_ _2\"></span>ase th<span class=\"_ _2\"></span>at </span></span>operates in various<span class=\"_ _0\"></span> indus<span class=\"_ _2\"></span>tries. The Group<span class=\"_ _0\"></span>\u2019s expected credit loss prov<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>on con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>rs t<span class=\"_ _2\"></span>he cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk of i<span class=\"_ _2\"></span>ts cl<span class=\"_ _2\"></span>ient b<span class=\"_ _2\"></span>ase, w<span class=\"_ _2\"></span>hich c<span class=\"_ _2\"></span>ould<span class=\"_ _2\"></span> be impacted by climat<span class=\"_ _0\"></span>e change in a<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>ticular marke<span class=\"_ _0\"></span>t or indust<span class=\"_ _2\"></span>ry.<span class=\"_ _0\"></span> Gi<span class=\"_ _2\"></span>ven<span class=\"_ _0\"></span> that receivables are<span class=\"_ _0\"></span> mainly due within one year<span class=\"_ _0\"></span>, the impact of climate<span class=\"_ _0\"></span> change in the short term is unlik<span class=\"_ _0\"></span>ely to be material",
   "dimensions": {
    "concept": "lseg:DisclosureOfClimateChange",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-521": {
   "value": "2. Se<span class=\"_ _2\"></span>gment information<span class=\"_ _314\"> </span>This n<span class=\"_ _2\"></span>ote set<span class=\"_ _2\"></span>s out our r<span class=\"_ _2\"></span>esult<span class=\"_ _2\"></span>s by oper<span class=\"_ _2\"></span>atin<span class=\"_ _2\"></span>g segme<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>n the ye<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>,<span class=\"_ _314\"> </span>we com<span class=\"_ _2\"></span>bine<span class=\"_ _2\"></span>d our prev<span class=\"_ _2\"></span>ious Ca<span class=\"_ _2\"></span>pital M<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s and Po<span class=\"_ _2\"></span>st T<span class=\"_ _0\"></span>rade se<span class=\"_ _2\"></span>gment<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>to for<span class=\"_ _2\"></span>m one new di<span class=\"_ _2\"></span>visi<span class=\"_ _2\"></span>on, M<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>2.1<span class=\"_ _0\"></span> Segment result<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Resu<span class=\"_ _2\"></span>lt<span class=\"_ _2\"></span>s, in<span class=\"_ _2\"></span>clud<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>djus<span class=\"_ _2\"></span>ted E<span class=\"_ _2\"></span>BIT<span class=\"_ _2\"></span>DA<span class=\"_ _2\"></span>, by ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ing se<span class=\"_ _2\"></span>gmen<span class=\"_ _2\"></span>t for t<span class=\"_ _2\"></span>he year e<span class=\"_ _2\"></span>nde<span class=\"_ _2\"></span>d 31 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 2025 are as fol<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w213 h22a\" id=\"_f6556965-d608-42a0-a37b-f603a83f387d\"><tr><td></td><td></td><td class=\"t m2 x425 h13 y212f ff72 fs6 fc1 sc0 ls26 ws3\">Dat<span class=\"_ _2\"></span>a &amp; </td><td class=\"t m2 x426 h13 y212f ff72 fs6 fc1 sc0 ls4 ws3\">FTS<span class=\"_ _2\"></span>E </td><td class=\"t m2 x427 h13 y212f ff72 fs6 fc1 sc0 ls4 ws3\">Risk </td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x428 h13 y2130 ff72 fs6 fc1 sc0 lse5 ws125\">Analy<span class=\"_ _2\"></span>tics<span class=\"_ _314\"> </span></td><td class=\"t m2 x429 h13 y2130 ff72 fs6 fc1 sc0 ls41 ws56\">Russell<span class=\"_ _314\"> </span></td><td class=\"c n x42a y2132 w214 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 lse5 ws125\">Intelligence</div></td><td class=\"c n x42b y2132 w215 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls110 ws183\">Markets</div></td><td class=\"c n x42c y2132 w216 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls12 ws81\">Other</div></td><td class=\"c n x42d y2132 w217 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 lse0 ws110\">Group<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x42e y2133 w218 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x42f y2133 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x430 y2133 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x431 y2133 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x432 y2133 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x433 y2133 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x434 y2133 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2134 w219 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls67 ws61\">Revenu<span class=\"_ _2\"></span>e</div><div class=\"t m2 x435 h195 y210f ff72 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x436 y2135 w21a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">3.1</div></td><td class=\"c n x437 y2135 w21b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">4,338<span class=\"_ _314\"> </span></div></td><td class=\"c n x438 y2135 w21c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">954<span class=\"_ _314\"> </span></div></td><td class=\"c n x439 y2135 w21d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">579</div></td><td class=\"c n x43a y2135 w21e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsaa wsd6\">3,<span class=\"_ _2\"></span>210<span class=\"_ _314\"> </span></div></td><td class=\"c n x43b y2135 w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013</div></td><td class=\"c n x43c y2135 w38 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls58 wsb5\">9,0<span class=\"_ _2\"></span>81<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2136 w3a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">Net treasury income<span class=\"_ _314\"> </span></div></td><td class=\"c n x43d y2136 w21a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">3.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x43e y2136 w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y2136 w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y2136 w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x441 y2136 w3b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">257<span class=\"_ _314\"> </span></div></td><td class=\"c n x442 y2136 w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x443 y2136 w3b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">257<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2137 w3d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">Other income<span class=\"_ _314\"> </span></div></td><td class=\"c n x43d y2137 w21a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">3.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x43e y2137 w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y2137 w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y2137 w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y2137 w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x445 y2137 w3e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x446 y2137 w3e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2138 w40 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x447 y2138 w21b h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">4,338<span class=\"_ _314\"> </span></div></td><td class=\"c n x448 y2138 w21c h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">954<span class=\"_ _314\"> </span></div></td><td class=\"c n x449 y2138 w1ed h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">57<span class=\"_ _2\"></span>9</div></td><td class=\"c n x44a y2138 w21f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">3,467<span class=\"_ _314\"> </span></div></td><td class=\"c n x44b y2138 w3e h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">8</div></td><td class=\"c n x44c y2138 w41 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>346<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2139 w43 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Cost of sales<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x44d y2139 w220 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">(821)<span class=\"_ _314\"> </span></div></td><td class=\"c n x44e y2139 w221 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls95 wsc2\">(58<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x44f y2139 w222 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">(53)<span class=\"_ _314\"> </span></div></td><td class=\"c n x450 y2139 w152 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(18<span class=\"_ _2\"></span>1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x451 y2139 w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x452 y2139 w45 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">(1,113)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213a w47 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsad wsd5\">Gross prof<span class=\"_ _2\"></span>it<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x453 y213a w223 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsb5 wse3\">3<span class=\"_ _2\"></span>,51<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x454 y213a w224 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">896<span class=\"_ _314\"> </span></div></td><td class=\"c n x455 y213a w225 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls71 ws9a\">526</div></td><td class=\"c n x456 y213a w226 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">3,286<span class=\"_ _314\"> </span></div></td><td class=\"c n x457 y213a w3e h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">8</div></td><td class=\"c n x458 y213a w227 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">8,<span class=\"_ _2\"></span>233<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y213b ff71 fs129 fc1 sc0 ls89 wsda\">Adjusted operating e<span class=\"_ _0\"></span>xpenses before<span class=\"_ _0\"></span> depreciation, amortisat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213c w228 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">and impairment<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x459 y213c w229 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(1,9<span class=\"_ _2\"></span>00)<span class=\"_ _314\"> </span></div></td><td class=\"c n x45a y213c w1c5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">(2<span class=\"_ _2\"></span>61)<span class=\"_ _314\"> </span></div></td><td class=\"c n x45b y213c w22a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6f ws99\">(193<span class=\"_ _2\"></span>)</div></td><td class=\"c n x45c y213c w22b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">(<span class=\"_ _2\"></span>1,<span class=\"_ _2\"></span>357)<span class=\"_ _314\"> </span></div></td><td class=\"c n x45d y213c w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013</div></td><td class=\"c n x45e y213c w22c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb0 wsdb\">(3<span class=\"_ _2\"></span>,711<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w22d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Sha<span class=\"_ _2\"></span>re of pr<span class=\"_ _2\"></span>ofi<span class=\"_ _2\"></span>t af<span class=\"_ _2\"></span>ter t<span class=\"_ _2\"></span>ax of a<span class=\"_ _2\"></span>sso<span class=\"_ _2\"></span>ciat<span class=\"_ _2\"></span>es and j<span class=\"_ _2\"></span>oin<span class=\"_ _2\"></span>t vent<span class=\"_ _2\"></span>ures<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x45f y213d w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x460 y213d w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x461 y213d w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x462 y213d w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x463 y213d w55 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x464 y213d w55 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w22e h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws76\">Adjus<span class=\"_ _2\"></span>ted EBITDA<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x465 y213e w22f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls21 ws8a\">1<span class=\"_ _2\"></span>,617<span class=\"_ _314\"> </span></div></td><td class=\"c n x466 y213e w230 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">635<span class=\"_ _314\"> </span></div></td><td class=\"c n x467 y213e w231 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">333</div></td><td class=\"c n x468 y213e w232 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,92<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td><td class=\"c n x469 y213e we0 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">9</div></td><td class=\"c n x46a y213e w233 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls71 ws9a\">4<span class=\"_ _2\"></span>,523<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w234 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Adjusted depreci<span class=\"_ _0\"></span>ation, amor<span class=\"_ _2\"></span>tisation and<span class=\"_ _0\"></span> impairment<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x46b y20da w235 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls78 wse4\">(<span class=\"_ _2\"></span>574<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x46c y20da w236 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d ws97\">(89)<span class=\"_ _314\"> </span></div></td><td class=\"c n x46d y20da w1e8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 wsbf\">(48<span class=\"_ _2\"></span>)</div></td><td class=\"c n x46e y20da w237 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa8 wsd5\">(306)<span class=\"_ _314\"> </span></div></td><td class=\"c n x46f y20da w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013</div></td><td class=\"c n x470 y20da w238 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>,017)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w239 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6d wsd4\">Adjusted operating profit<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x471 y2069 w23a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls39 ws0\">1,0<span class=\"_ _2\"></span>43<span class=\"_ _314\"> </span></div></td><td class=\"c n x472 y2069 w23b h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls75 ws9e\">546<span class=\"_ _314\"> </span></div></td><td class=\"c n x473 y2069 w23c h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">285</div></td><td class=\"c n x474 y2069 w23d h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,623<span class=\"_ _314\"> </span></div></td><td class=\"c n x475 y2069 we0 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">9</div></td><td class=\"c n x476 y2069 w23e h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls89 ws79\">3,50<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>Data &amp;<span class=\"_ _0\"></span> Anal<span class=\"_ _2\"></span>ytics revenue includes<span class=\"_ _0\"></span> recoveries of<span class=\"_ _0\"></span> \u00a336<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span> million. Markets rev<span class=\"_ _0\"></span>enue includes net<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement and<span class=\"_ _0\"></span> similar expenses<span class=\"_ _0\"></span> recovered through<span class=\"_ _0\"></span> the CCP clearing<span class=\"_ _0\"></span> businesses of \u00a35 million<span class=\"_ _0\"></span> which<span class=\"_ _314\"> </span>comprises gross<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement inc<span class=\"_ _0\"></span>ome of \u00a34<span class=\"_ _0\"></span>7 million less<span class=\"_ _0\"></span> gross settlement expenses of<span class=\"_ _0\"></span> \u00a342<span class=\"_ _0\"></span> million.<span class=\"_ _314\"> </span>Fro<span class=\"_ _2\"></span>m <span>1 Janu<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y 2025</span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p reorg<span class=\"_ _2\"></span>anis<span class=\"_ _2\"></span>ed it<span class=\"_ _2\"></span>s rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng st<span class=\"_ _2\"></span>ruc<span class=\"_ _2\"></span>tu<span class=\"_ _2\"></span>re to<span class=\"_ _314\"> </span>align segment reporting wit<span class=\"_ _2\"></span>h ne<span class=\"_ _0\"></span>w management report<span class=\"_ _2\"></span>ing li<span class=\"_ _0\"></span>nes to the<span class=\"_ _314\"> </span>E<span class=\"_ _2\"></span>xecu<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>e Comm<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>tee. A<span class=\"_ _2\"></span>s a res<span class=\"_ _2\"></span>ult of t<span class=\"_ _2\"></span>his c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e, t<span class=\"_ _2\"></span>wo seg<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s, C<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span>Ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s and Po<span class=\"_ _2\"></span>st T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>de, no<span class=\"_ _2\"></span>w compr<span class=\"_ _2\"></span>ise a s<span class=\"_ _2\"></span>ingl<span class=\"_ _2\"></span>e segm<span class=\"_ _2\"></span>ent \u201c<span class=\"_ _2\"></span>Mar<span class=\"_ _2\"></span>ket<span class=\"_ _2\"></span>s\u201d<span class=\"_ _3\"></span>.<span class=\"_ _314\"> </span>There is<span class=\"_ _0\"></span> no impact to the other segments.<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ts four operating segment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> (compared with five<span class=\"_ _314\"> </span>operating segment<span class=\"_ _2\"></span>s under<span class=\"_ _0\"></span> the previous str<span class=\"_ _2\"></span>ucture):<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Data &amp; Analy<span class=\"_ _2\"></span>tics \u2013 provider of<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> data and analy<span class=\"_ _2\"></span>tics<span class=\"_ _314\"> </span></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">FTS<span class=\"_ _2\"></span>E<span class=\"_ _0\"></span> Russell \u2013 provider of<span class=\"_ _0\"></span> benchmark data and indices<span class=\"_ _314\"> </span></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Risk Intelligence<span class=\"_ _0\"></span> \u2013 provider of<span class=\"_ _0\"></span> cus<span class=\"_ _2\"></span>tomer<span class=\"_ _0\"></span> and third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y risk solutions<span class=\"_ _314\"> </span></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Markets \u2013 global operator<span class=\"_ _0\"></span> of capital raising and trading venues in<span class=\"_ _314\"> </span></span>multiple asset classes and pro<span class=\"_ _0\"></span>vid<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span> of clearing, risk management,<span class=\"_ _314\"> </span>capital optimisation and<span class=\"_ _0\"></span> regulatory repor<span class=\"_ _2\"></span>ting<span class=\"_ _0\"></span> solut<span class=\"_ _2\"></span>ions<span class=\"_ _314\"> </span>The s<span class=\"_ _2\"></span>egm<span class=\"_ _2\"></span>ent in<span class=\"_ _2\"></span>forma<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n for th<span class=\"_ _2\"></span>e year e<span class=\"_ _2\"></span>nded 3<span class=\"_ _2\"></span>1 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 202<span class=\"_ _0\"></span>4 has<span class=\"_ _314\"> </span>been re-p<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>esented for the changes<span class=\"_ _0\"></span> in operating segment<span class=\"_ _2\"></span>s.  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>IF<span class=\"_ _2\"></span>RS 8 <span class=\"ff74 ls17 ws81\">Ope<span class=\"_ _2\"></span>rating Segment<span class=\"_ _2\"></span>s</span><span class=\"ls6 ws7\"> requir<span class=\"_ _0\"></span>es operating segment<span class=\"_ _2\"></span>s t<span class=\"_ _0\"></span>o be<span class=\"_ _314\"> </span></span>ide<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ied on t<span class=\"_ _2\"></span>he sa<span class=\"_ _2\"></span>me ba<span class=\"_ _2\"></span>sis as i<span class=\"_ _2\"></span>s repor<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d inte<span class=\"_ _2\"></span>rnal<span class=\"_ _2\"></span>ly for t<span class=\"_ _2\"></span>he rev<span class=\"_ _2\"></span>iew<span class=\"_ _314\"> </span>of performance and allocation of<span class=\"_ _0\"></span> resources by<span class=\"_ _0\"></span> the \u201cchief<span class=\"_ _0\"></span> operat<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span>de<span class=\"_ _2\"></span>cisio<span class=\"_ _2\"></span>n maker<span class=\"_ _2\"></span>\u201d<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>or the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p, thi<span class=\"_ _2\"></span>s is th<span class=\"_ _2\"></span>e Exec<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ive Co<span class=\"_ _2\"></span>mmi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>tee.<span class=\"_ _314\"> </span>The Executive Commit<span class=\"_ _2\"></span>tee uses \u201c<span class=\"_ _0\"></span>adjusted\u201d measures, including<span class=\"_ _314\"> </span>adjusted EBITDA<span class=\"_ _2\"></span>, t<span class=\"_ _0\"></span>o assess the profit<span class=\"_ _2\"></span>ability and per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance of<span class=\"_ _314\"> </span>the operating segment<span class=\"_ _2\"></span>s. These<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> measures ex<span class=\"_ _0\"></span>clude the<span class=\"_ _314\"> </span>impact of income or<span class=\"_ _0\"></span> expenses classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-underly<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> when<span class=\"_ _314\"> </span>they do not<span class=\"_ _0\"></span> arise in the normal course of<span class=\"_ _0\"></span> business and are<span class=\"_ _0\"></span> material<span class=\"_ _314\"> </span>in nature<span class=\"_ _0\"></span> or amount. Non<span class=\"_ _2\"></span>-underly<span class=\"_ _2\"></span>ing items<span class=\"_ _0\"></span> include amor<span class=\"_ _2\"></span>tisation of<span class=\"_ _314\"> </span>purchased intangible assets, incremental amort<span class=\"_ _2\"></span>isation of<span class=\"_ _0\"></span> any fair<span class=\"_ _314\"> </span>val<span class=\"_ _2\"></span>ue ad<span class=\"_ _2\"></span>jus<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s of int<span class=\"_ _2\"></span>angi<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t of<span class=\"_ _314\"> </span>acquisitions, impairment<span class=\"_ _2\"></span>, and<span class=\"_ _0\"></span> signif<span class=\"_ _2\"></span>icant integration and<span class=\"_ _0\"></span> rest<span class=\"_ _2\"></span>ructuring<span class=\"_ _314\"> </span>costs<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The defined \u201c<span class=\"_ _0\"></span>adjusted\u201d measures<span class=\"_ _0\"></span> and criteria<span class=\"_ _0\"></span> for classifying<span class=\"_ _314\"> </span>income or<span class=\"_ _0\"></span> expenses as non-<span class=\"_ _2\"></span>underlying are included in<span class=\"_ _0\"></span> the<span class=\"_ _314\"> </span>Alternati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> Per<span class=\"_ _2\"></span>formanc<span class=\"_ _0\"></span>e Measures section of this report<span class=\"_ _2\"></span>, outside<span class=\"_ _314\"> </span>of the financial statements<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Re-<span class=\"_ _2\"></span>present<span class=\"_ _0\"></span>ed results<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> including adjusted EBIT<span class=\"_ _2\"></span>D<span class=\"_ _0\"></span>A<span class=\"_ _2\"></span>, by<span class=\"_ _0\"></span> operating segment for the year<span class=\"_ _0\"></span> ended 31 December 20<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>4 are as<span class=\"_ _0\"></span> follows:<span class=\"_ _314\"> </span><table class=\"s w23f h22b\" id=\"_f86ec168-9865-4b09-935c-222f5c15ef7b\"><tr><td></td><td></td><td class=\"t m0 x425 hb y213f ff71 fs6 fc1 sc0 ls26 ws3\">Dat<span class=\"_ _2\"></span>a &amp; </td><td class=\"t m0 x426 hb y213f ff71 fs6 fc1 sc0 ls4 ws3\">FT<span class=\"_ _2\"></span>SE </td><td class=\"t m0 x427 hb y213f ff71 fs6 fc1 sc0 lse5 ws125\">Risk </td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x428 hb y2140 ff71 fs6 fc1 sc0 lsf1 ws5e\">Analytics<span class=\"_ _314\"> </span></td><td class=\"t m0 x429 hb y2140 ff71 fs6 fc1 sc0 ls27 ws45\">Russell<span class=\"_ _314\"> </span></td><td class=\"c n x477 y2141 w240 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls27 ws45\">Intelligence</div></td><td class=\"c n x478 y2141 w241 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls8d ws184\">M<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>kets<span class=\"_ _314\"> </span></div></td><td class=\"c n x479 y2141 w242 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls27 ws45\">Ot<span class=\"_ _2\"></span>her</div></td><td class=\"c n x47a y2141 w243 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls4 ws3\">Group<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x47b y2142 w218 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x47c y2142 w244 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x47d y2142 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x47e y2142 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x47f y2142 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x480 y2142 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x481 y2142 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2144 w245 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls67 ws61\">Revenu<span class=\"_ _2\"></span>e</div><div class=\"t m0 x435 h195 y2143 ff72 fs12a fc1 sc0 ls111 ws185\">1,2<span class=\"_ _314\"> </span></div></td><td class=\"c n x436 y2145 w21a h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">3.1</div></td><td class=\"c n x482 y2145 w246 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">4,<span class=\"_ _2\"></span>223<span class=\"_ _314\"> </span></div></td><td class=\"c n x483 y2145 w247 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">9<span class=\"_ _2\"></span>11<span class=\"_ _314\"> </span></div></td><td class=\"c n x484 y2145 w248 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">53<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x485 y2145 w249 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>914<span class=\"_ _314\"> </span></div></td><td class=\"c n x486 y2145 w4f h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013</div></td><td class=\"c n x487 y2145 w39 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">8,579<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2134 w3a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d wsd4\">Net treasury income<span class=\"_ _314\"> </span></div></td><td class=\"c n x43d y2134 w21a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">3.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x43e y2134 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y2134 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y2134 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x488 y2134 w24a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">26<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x489 y2134 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x292 y2134 w24a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">26<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2146 w3d h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d wsd4\">Other income<span class=\"_ _314\"> </span></div></td><td class=\"c n x43d y2146 w21a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">3.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x43e y2146 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y2146 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y2146 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y2146 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x48a y2146 wc3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x48b y2146 w3f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2147 w40 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x48c y2147 w24b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">4,223<span class=\"_ _314\"> </span></div></td><td class=\"c n x48d y2147 w24c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">911<span class=\"_ _314\"> </span></div></td><td class=\"c n x48e y2147 w24d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">531<span class=\"_ _314\"> </span></div></td><td class=\"c n x48f y2147 w24e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls91 wsbf\">3<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x490 y2147 wc3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">13</div></td><td class=\"c n x491 y2147 w24f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">8<span class=\"_ _2\"></span>,858<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2138 w250 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Cost of sales</div><div class=\"t m0 x492 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x493 y2138 w251 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">(808)<span class=\"_ _314\"> </span></div></td><td class=\"c n x494 y2138 w252 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">(6<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x495 y2138 w253 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(46)<span class=\"_ _314\"> </span></div></td><td class=\"c n x496 y2138 w254 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7e wsaa\">(25<span class=\"_ _2\"></span>6)<span class=\"_ _314\"> </span></div></td><td class=\"c n x497 y2138 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x498 y2138 w255 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls91 wsbf\">(<span class=\"_ _2\"></span>1,1<span class=\"_ _2\"></span>73<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2148 w47 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsad wsd5\">Gross prof<span class=\"_ _2\"></span>it<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x499 y2148 w256 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws1\">3,41<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td><td class=\"c n x49a y2148 w257 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb8 wse8\">848<span class=\"_ _314\"> </span></div></td><td class=\"c n x49b y2148 w258 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">485</div></td><td class=\"c n x49c y2148 w259 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb9 wse9\">2,<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x49d y2148 w3f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">13</div></td><td class=\"c n x49e y2148 w25a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _1\"></span>6<span class=\"_ _2\"></span>8<span class=\"_ _1\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2149 ff71 fs129 fc1 sc0 ls89 wsda\">Adjusted operating e<span class=\"_ _0\"></span>xpenses before<span class=\"_ _0\"></span> depreciation, amortisat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y214a w25b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">and impairment</div><div class=\"t m0 x49f h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a0 y214a w25c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">(1,<span class=\"_ _2\"></span>846)<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a1 y214a w25d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7e wsaa\">(25<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a2 y214a w25e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa2 wscd\">(1<span class=\"_ _2\"></span>92)</div></td><td class=\"c n x4a3 y214a w25f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>268)<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a4 y214a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013</div></td><td class=\"c n x4a5 y214a w260 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">(<span class=\"_ _2\"></span>3,560)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w51 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Income from<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ments<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a6 y214b w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a7 y214b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a8 y214b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a9 y214b w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4aa y214b w53 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ab y214b w53 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w261 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Sha<span class=\"_ _2\"></span>re of lo<span class=\"_ _2\"></span>ss af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r tax o<span class=\"_ _2\"></span>f asso<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>tes an<span class=\"_ _2\"></span>d join<span class=\"_ _2\"></span>t vent<span class=\"_ _2\"></span>ures<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4ac y214c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ad y214c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ae y214c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4af y214c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4b0 y214c wa6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(4)<span class=\"_ _314\"> </span></div></td><td class=\"c n x4b1 y214c wa6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(4)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x4b2 h187 y214d ff72 fs129 fc1 sc0 ls4 ws76\">Adjus<span class=\"_ _2\"></span>ted EBITDA<span class=\"_ _314\"> </span></td><td></td><td class=\"c n x4b3 y213e w262 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6f ws99\">1,<span class=\"_ _2\"></span>569<span class=\"_ _314\"> </span></div></td><td class=\"c n x4b4 y213e w263 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa2 wscd\">594<span class=\"_ _314\"> </span></div></td><td class=\"c n x4b5 y213e w264 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6e ws98\">293<span class=\"_ _314\"> </span></div></td><td class=\"c n x4b6 y213e wd0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>,656<span class=\"_ _314\"> </span></div></td><td class=\"c n x4b7 y213e w15c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">36<span class=\"_ _314\"> </span></div></td><td class=\"c n x4b8 y213e w265 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls91 wsbf\">4,1<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x4b2 h193 y214e ff71 fs129 fc1 sc0 ls89 wsda\">Adjusted depreci<span class=\"_ _0\"></span>ation, amor<span class=\"_ _2\"></span>tisation and<span class=\"_ _0\"></span> impairment<span class=\"_ _314\"> </span></td><td></td><td class=\"c n x4b9 y214f w266 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls72 ws9b\">(5<span class=\"_ _2\"></span>61)<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ba y214f w267 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsac wsd7\">(<span class=\"_ _2\"></span>73)<span class=\"_ _314\"> </span></div></td><td class=\"c n x4bb y214f w268 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>8)<span class=\"_ _314\"> </span></div></td><td class=\"c n x4bc y214f w269 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls88 wsb4\">(<span class=\"_ _2\"></span>301)<span class=\"_ _314\"> </span></div></td><td class=\"c n x4bd y214f w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4be y214f w26a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">(98<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w239 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d wsd4\">Adjusted operating profit<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4bf y2069 w26b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6f ws99\">1,008<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c0 y2069 w26c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws1\">521<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c1 y2069 wa3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb9 wse9\">245<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c2 y2069 wb0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">1,<span class=\"_ _2\"></span>355<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c3 y2069 w15c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">36<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c4 y2069 w26d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls91 wsbf\">3<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng 2025<span class=\"_ _2\"></span>, in ad<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>n to th<span class=\"_ _2\"></span>e new se<span class=\"_ _2\"></span>gme<span class=\"_ _2\"></span>nt pr<span class=\"_ _2\"></span>ese<span class=\"_ _2\"></span>nta<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n, s<span class=\"_ _2\"></span>ome re<span class=\"_ _2\"></span>ven<span class=\"_ _2\"></span>ue an<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t ite<span class=\"_ _2\"></span>ms wer<span class=\"_ _2\"></span>e real<span class=\"_ _2\"></span>loc<span class=\"_ _2\"></span>ate<span class=\"_ _2\"></span>d bet<span class=\"_ _2\"></span>we<span class=\"_ _2\"></span>en bu<span class=\"_ _2\"></span>sin<span class=\"_ _2\"></span>ess l<span class=\"_ _2\"></span>ine<span class=\"_ _2\"></span>s to bet<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct ou<span class=\"_ _2\"></span>r pro<span class=\"_ _2\"></span>duc<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>d ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>g mod<span class=\"_ _2\"></span>el (co<span class=\"_ _2\"></span>nsi<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>nt wi<span class=\"_ _2\"></span>th r<span class=\"_ _2\"></span>epo<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>o the E<span class=\"_ _2\"></span>xe<span class=\"_ _2\"></span>cut<span class=\"_ _2\"></span>ive C<span class=\"_ _2\"></span>om<span class=\"_ _2\"></span>mit<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>e). Th<span class=\"_ _2\"></span>e imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t on th<span class=\"_ _2\"></span>e pre<span class=\"_ _2\"></span>vio<span class=\"_ _2\"></span>usl<span class=\"_ _2\"></span>y rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ted 2<span class=\"_ _2\"></span>02<span class=\"_ _0\"></span>4 re<span class=\"_ _2\"></span>sul<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>s: <span class=\"_ _22e\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"lsb\">Reve<span class=\"_ _2\"></span>nue o<span class=\"_ _2\"></span>f \u00a315<span class=\"_ _2\"></span>8 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n and c<span class=\"_ _2\"></span>ost o<span class=\"_ _2\"></span>f sal<span class=\"_ _2\"></span>es of \u00a3<span class=\"_ _2\"></span>1 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n move<span class=\"_ _2\"></span>d fro<span class=\"_ _2\"></span>m Dat<span class=\"_ _2\"></span>a &amp; An<span class=\"_ _2\"></span>aly<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>s to Ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s.</span> <span class=\"_ _22e\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"lsb\">Reve<span class=\"_ _2\"></span>nue o<span class=\"_ _2\"></span>f \u00a37 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on mo<span class=\"_ _2\"></span>ved f<span class=\"_ _2\"></span>rom F<span class=\"_ _2\"></span>TS<span class=\"_ _2\"></span>E Rus<span class=\"_ _2\"></span>sel<span class=\"_ _2\"></span>l to Dat<span class=\"_ _2\"></span>a &amp; Ana<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>s.</span> <span class=\"_ _22e\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"lsb\">Adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>ted op<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng ex<span class=\"_ _2\"></span>pen<span class=\"_ _2\"></span>ses b<span class=\"_ _2\"></span>efor<span class=\"_ _2\"></span>e dep<span class=\"_ _2\"></span>reci<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on, a<span class=\"_ _2\"></span>mo<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>isa<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on an<span class=\"_ _2\"></span>d imp<span class=\"_ _2\"></span>air<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t of \u00a3<span class=\"_ _2\"></span>29 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n move<span class=\"_ _2\"></span>d to Da<span class=\"_ _2\"></span>ta &amp; A<span class=\"_ _2\"></span>nal<span class=\"_ _2\"></span>yt<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>s fro<span class=\"_ _2\"></span>m FT<span class=\"_ _2\"></span>SE Ru<span class=\"_ _2\"></span>ss<span class=\"_ _2\"></span>ell (<span class=\"_ _2\"></span>\u00a31<span class=\"_ _2\"></span>0 mill<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>), Ri<span class=\"_ _2\"></span>sk In<span class=\"_ _2\"></span>tell<span class=\"_ _2\"></span>ige<span class=\"_ _2\"></span>nce (<span class=\"_ _2\"></span>\u00a37 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion)<span class=\"_ _2\"></span>, </span>Markets (\u00a310 million)<span class=\"_ _0\"></span> and Other (\u00a3<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span> million). <span class=\"_ _22e\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"lsb\">Adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>ted de<span class=\"_ _2\"></span>pre<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n, am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sat<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>nd im<span class=\"_ _2\"></span>pai<span class=\"_ _2\"></span>rme<span class=\"_ _2\"></span>nt of \u00a3<span class=\"_ _2\"></span>10 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>nd \u00a35 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>oved t<span class=\"_ _2\"></span>o FT<span class=\"_ _2\"></span>SE Ru<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ll an<span class=\"_ _2\"></span>d Ris<span class=\"_ _2\"></span>k Inte<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>gen<span class=\"_ _2\"></span>ce res<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>ly, fro<span class=\"_ _2\"></span>m Dat<span class=\"_ _2\"></span>a &amp; An<span class=\"_ _2\"></span>aly<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>s (\u00a31<span class=\"_ _2\"></span>2 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n) and<span class=\"_ _2\"></span> </span>Markets (\u00a33 million).<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>Data<span class=\"_ _0\"></span> &amp; Analy<span class=\"_ _2\"></span>tics reven<span class=\"_ _0\"></span>ue includes recov<span class=\"_ _0\"></span>eries of \u00a3364 million. Markets r<span class=\"_ _0\"></span>evenue includes net<span class=\"_ _0\"></span> settl<span class=\"_ _2\"></span>ement<span class=\"_ _0\"></span> and similar e<span class=\"_ _0\"></span>xpenses recovered<span class=\"_ _0\"></span> through the CCP clearing<span class=\"_ _0\"></span> businesses of \u00a3<span class=\"_ _0\"></span>4 million which comprises gr<span class=\"_ _0\"></span>oss settlemen<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> income of<span class=\"_ _0\"></span> \u00a348 million less<span class=\"_ _0\"></span> gross settlement expenses of \u00a3<span class=\"_ _0\"></span>4<span class=\"_ _2\"></span>4<span class=\"_ _0\"></span> million<span class=\"_ _314\"> </span>2<span class=\"_ _2\"></span>.2 Ad<span class=\"_ _2\"></span>juste<span class=\"_ _2\"></span>d EB<span class=\"_ _2\"></span>ITDA and adj<span class=\"_ _2\"></span>uste<span class=\"_ _2\"></span>d oper<span class=\"_ _2\"></span>atin<span class=\"_ _2\"></span>g prof<span class=\"_ _2\"></span>it<span class=\"_ _314\"> </span>Prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t for th<span class=\"_ _2\"></span>e year i<span class=\"_ _2\"></span>s recon<span class=\"_ _2\"></span>cile<span class=\"_ _2\"></span>d to adj<span class=\"_ _2\"></span>uste<span class=\"_ _2\"></span>d ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ing p<span class=\"_ _2\"></span>rof<span class=\"_ _2\"></span>it and a<span class=\"_ _2\"></span>dju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d EB<span class=\"_ _2\"></span>ITDA a<span class=\"_ _2\"></span>s follo<span class=\"_ _2\"></span>ws:<span class=\"_ _314\"> </span><table class=\"s w26e h22c\" id=\"_544baae4-2002-4a06-bad0-be086bec198f\"><tr><td></td><td></td><td class=\"c n x4c5 y2150 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2150 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4c7 y2151 w33 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c8 y2151 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c9 y2151 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2152 w72 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">Pro<span class=\"_ _2\"></span>fit f<span class=\"_ _2\"></span>or th<span class=\"_ _2\"></span>e year<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4ca y2152 w271 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls89 ws79\">1,506<span class=\"_ _314\"> </span></div></td><td class=\"c n x4cb y2152 w272 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">92<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2153 w273 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa5 wsd1\">Ta<span class=\"_ _2\"></span>x<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>t<span class=\"_ _2\"></span>i<span class=\"_ _1\"></span>o<span class=\"_ _2\"></span>n<span class=\"_ _314\"> </span></div></td><td class=\"c n x4cc y2153 w274 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4cd y2153 w275 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">4<span class=\"_ _2\"></span>63<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ce y2153 w18f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">3<span class=\"_ _2\"></span>37<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2154 w6b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls70 ws55\">Profit be<span class=\"_ _0\"></span>fore tax<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4cf y2154 w276 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">1,9<span class=\"_ _2\"></span>69<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d0 y2154 w277 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7e wsaa\">1<span class=\"_ _2\"></span>,25<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2155 w61 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Finance income<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d1 y2155 w44 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">5.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d2 y2155 w278 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">(153)<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d3 y2155 w279 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">(175<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2156 w64 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Finance costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d4 y2156 w27a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">5<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d5 y2156 w27b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsac wsd7\">340<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d6 y2156 w27c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">380<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2157 w67 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Gains on<span class=\"_ _0\"></span> digital and relat<span class=\"_ _0\"></span>ed assets<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d7 y2157 w27d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">5.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d8 y2157 w195 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">(29)<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d9 y2157 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2158 w5e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">Operating profit<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4da y2158 w5f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsaf wsd9\">2<span class=\"_ _2\"></span>,12<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x4db y2158 w27e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1,4<span class=\"_ _2\"></span>63<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y215a w27f h22d\"><div class=\"t m0 x1e4 h193 y2159 ff71 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>underlying items befor<span class=\"_ _0\"></span>e interest, tax,<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">depreciation, amortisation and impairment<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4dc y215a w280 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls70 ws76\">158<span class=\"_ _314\"> </span></div></td><td class=\"c n x4dd y215a w7a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">203<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y20d7 w281 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff71 fs129 fc1 sc0 ls89 wsda\">Non-<span class=\"_ _2\"></span>underlying depreciation,<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">amor<span class=\"_ _2\"></span>tisation and<span class=\"_ _0\"></span> impairment<span class=\"_ _314\"> </span></div></td><td class=\"c n x4de y20d7 w282 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">9, 1<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x4df y20d7 w283 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">1,<span class=\"_ _2\"></span>221<span class=\"_ _314\"> </span></div></td><td class=\"c n x4e0 y20d7 w277 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>,499<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215b w239 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">Adjusted operating profit<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4e1 y215b w284 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls89 ws79\">3,506<span class=\"_ _314\"> </span></div></td><td class=\"c n x4e2 y215b w285 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">3,1<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y215c ff71 fs129 fc1 sc0 ls89 wsda\">Adjusted depreci<span class=\"_ _0\"></span>ation, amor<span class=\"_ _2\"></span>tisation </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2068 w228 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">and impairment<span class=\"_ _314\"> </span></div></td><td class=\"c n x4e3 y2068 w286 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">9, 1<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x4e4 y2068 w287 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws0\">1,017<span class=\"_ _314\"> </span></div></td><td class=\"c n x4e5 y2068 w288 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">983<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w22e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws76\">Adjus<span class=\"_ _2\"></span>ted EBITDA<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4e6 y2069 w289 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls71 ws9a\">4,<span class=\"_ _2\"></span>523<span class=\"_ _314\"> </span></div></td><td class=\"c n x4e7 y2069 w265 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">4<span class=\"_ _2\"></span>,14<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr></table>2.<span class=\"_ _2\"></span>3 Segment<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>otal non<span class=\"_ _2\"></span>-current assets (ex<span class=\"_ _0\"></span>cluding f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments, prepayment<span class=\"_ _2\"></span>s, contrac<span class=\"_ _2\"></span>t assets, deferr<span class=\"_ _0\"></span>ed tax asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and retirement benefit assets) bro<span class=\"_ _2\"></span>ken dow<span class=\"_ _2\"></span>n by ass<span class=\"_ _2\"></span>et loc<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on is sh<span class=\"_ _2\"></span>own i<span class=\"_ _2\"></span>n the fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>able:<span class=\"_ _314\"> </span><table class=\"s w28a h22e\" id=\"_830cb45f-64d7-434a-9205-6cc2f64e2a44\"><tr><td></td><td class=\"c n x4e9 y215d w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c x4eb y215d w28b h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">2024</div><div class=\"t m0 x4ea h199 y2120 ff71 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y215e w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y215e w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w8f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ee y214b w28c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls67 ws61\">10,<span class=\"_ _2\"></span>237<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ef y214b w28d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">9,<span class=\"_ _2\"></span>843<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w28e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f0 y214c w28f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsac wsd7\">16,346<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f1 y214c w290 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsae wsd8\">1<span class=\"_ _1\"></span>7,<span class=\"_ _2\"></span>9<span class=\"_ _1\"></span>6<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w291 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Euro<span class=\"_ _2\"></span>pe, exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f2 y213e w292 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">2,<span class=\"_ _2\"></span>661<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f3 y213e w293 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">2,810<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w294 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Asia and other<span class=\"_ _0\"></span> regions<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f4 y214f w295 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb0 wsdb\">2<span class=\"_ _2\"></span>,737<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f5 y214f w296 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsba wsea\">3,046<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w297 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa5 wsd1\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f6 y2069 w298 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa8 wsd5\">31,981<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f7 y2069 w299 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">33,660<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>During 20<span class=\"_ _0\"></span>25, the allocation o<span class=\"_ _0\"></span>f certain intangible assets across geographies was<span class=\"_ _0\"></span> reassessed, at<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ibu<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng t<span class=\"_ _2\"></span>he as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s to th<span class=\"_ _2\"></span>e cou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rie<span class=\"_ _2\"></span>s in wh<span class=\"_ _2\"></span>ich t<span class=\"_ _2\"></span>he un<span class=\"_ _2\"></span>der<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>ax ba<span class=\"_ _2\"></span>se e<span class=\"_ _2\"></span>cono<span class=\"_ _2\"></span>mic a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y arises, rather than t<span class=\"_ _0\"></span>o the domicile or<span class=\"_ _0\"></span> currency of the c<span class=\"_ _0\"></span>ompanies impacted. While total non-<span class=\"_ _2\"></span>current<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are unchanged, the<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>4 non-current assets by location have<span class=\"_ _0\"></span> been re<span class=\"_ _2\"></span>-p<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>ente<span class=\"_ _2\"></span>d res<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>ing i<span class=\"_ _2\"></span>n a dec<span class=\"_ _2\"></span>rea<span class=\"_ _2\"></span>se of \u00a3<span class=\"_ _2\"></span>2,7<span class=\"_ _2\"></span>21 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on in t<span class=\"_ _2\"></span>he US a<span class=\"_ _2\"></span>nd of \u00a3<span class=\"_ _2\"></span>629 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n in Eu<span class=\"_ _2\"></span>rop<span class=\"_ _2\"></span>e exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K and i<span class=\"_ _2\"></span>ncre<span class=\"_ _2\"></span>ase<span class=\"_ _2\"></span>s of \u00a31<span class=\"_ _2\"></span>,9<span class=\"_ _2\"></span>15 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on an<span class=\"_ _2\"></span>d \u00a31<span class=\"_ _2\"></span>,43<span class=\"_ _2\"></span>5 mill<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>n th<span class=\"_ _2\"></span>e UK an<span class=\"_ _2\"></span>d As<span class=\"_ _2\"></span>ia an<span class=\"_ _2\"></span>d oth<span class=\"_ _2\"></span>er regions<span class=\"_ _0\"></span> respectively<span class=\"_ _314\"> </span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-478": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>IF<span class=\"_ _2\"></span>RS 8 <span class=\"ff74 ls17 ws81\">Ope<span class=\"_ _2\"></span>rating Segment<span class=\"_ _2\"></span>s</span><span class=\"ls6 ws7\"> requir<span class=\"_ _0\"></span>es operating segment<span class=\"_ _2\"></span>s t<span class=\"_ _0\"></span>o be<span class=\"_ _314\"> </span></span><span class=\"ls6 ws7\"> </span>ide<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ied on t<span class=\"_ _2\"></span>he sa<span class=\"_ _2\"></span>me ba<span class=\"_ _2\"></span>sis as i<span class=\"_ _2\"></span>s repor<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d inte<span class=\"_ _2\"></span>rnal<span class=\"_ _2\"></span>ly for t<span class=\"_ _2\"></span>he rev<span class=\"_ _2\"></span>iew<span class=\"_ _314\"> </span> of performance and allocation of<span class=\"_ _0\"></span> resources by<span class=\"_ _0\"></span> the \u201cchief<span class=\"_ _0\"></span> operat<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span> de<span class=\"_ _2\"></span>cisio<span class=\"_ _2\"></span>n maker<span class=\"_ _2\"></span>\u201d<span class=\"_ _0\"></span>. F<span class=\"_ _2\"></span>or the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p, thi<span class=\"_ _2\"></span>s is th<span class=\"_ _2\"></span>e Exec<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ive Co<span class=\"_ _2\"></span>mmi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>tee.<span class=\"_ _314\"> </span>The Executive Commit<span class=\"_ _2\"></span>tee uses \u201c<span class=\"_ _0\"></span>adjusted\u201d measures, including<span class=\"_ _314\"> </span> adjusted EBITDA<span class=\"_ _2\"></span>, t<span class=\"_ _0\"></span>o assess the profit<span class=\"_ _2\"></span>ability and per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance of<span class=\"_ _314\"> </span> the operating segment<span class=\"_ _2\"></span>s. These<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> measures ex<span class=\"_ _0\"></span>clude the<span class=\"_ _314\"> </span> impact of income or<span class=\"_ _0\"></span> expenses classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-underly<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> when<span class=\"_ _314\"> </span> they do not<span class=\"_ _0\"></span> arise in the normal course of<span class=\"_ _0\"></span> business and are<span class=\"_ _0\"></span> material<span class=\"_ _314\"> </span> in nature<span class=\"_ _0\"></span> or amount. Non<span class=\"_ _2\"></span>-underly<span class=\"_ _2\"></span>ing items<span class=\"_ _0\"></span> include amor<span class=\"_ _2\"></span>tisation of<span class=\"_ _314\"> </span> purchased intangible assets, incremental amort<span class=\"_ _2\"></span>isation of<span class=\"_ _0\"></span> any fair<span class=\"_ _314\"> </span> val<span class=\"_ _2\"></span>ue ad<span class=\"_ _2\"></span>jus<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s of int<span class=\"_ _2\"></span>angi<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t of<span class=\"_ _314\"> </span> acquisitions, impairment<span class=\"_ _2\"></span>, and<span class=\"_ _0\"></span> signif<span class=\"_ _2\"></span>icant integration and<span class=\"_ _0\"></span> rest<span class=\"_ _2\"></span>ructuring<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> costs<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The defined \u201c<span class=\"_ _0\"></span>adjusted\u201d measures<span class=\"_ _0\"></span> and criteria<span class=\"_ _0\"></span> for classifying<span class=\"_ _314\"> </span> income or<span class=\"_ _0\"></span> expenses as non-<span class=\"_ _2\"></span>underlying are included in<span class=\"_ _0\"></span> the<span class=\"_ _314\"> </span> Alternati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> Per<span class=\"_ _2\"></span>formanc<span class=\"_ _0\"></span>e Measures section of this report<span class=\"_ _2\"></span>, outside<span class=\"_ _314\"> </span> of the financial statements<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-555": {
   "value": "2.<span class=\"_ _2\"></span>3 Segment<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>otal non<span class=\"_ _2\"></span>-current assets (ex<span class=\"_ _0\"></span>cluding f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments, prepayment<span class=\"_ _2\"></span>s, contrac<span class=\"_ _2\"></span>t assets, deferr<span class=\"_ _0\"></span>ed tax asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and retirement benefit assets) bro<span class=\"_ _2\"></span>ken dow<span class=\"_ _2\"></span>n by ass<span class=\"_ _2\"></span>et loc<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on is sh<span class=\"_ _2\"></span>own i<span class=\"_ _2\"></span>n the fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>able:<span class=\"_ _314\"> </span><table class=\"s w28a h22e\" id=\"_830cb45f-64d7-434a-9205-6cc2f64e2a44\"><tr><td></td><td class=\"c n x4e9 y215d w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c x4eb y215d w28b h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">2024</div><div class=\"t m0 x4ea h199 y2120 ff71 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y215e w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y215e w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w8f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ee y214b w28c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls67 ws61\">10,<span class=\"_ _2\"></span>237<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ef y214b w28d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">9,<span class=\"_ _2\"></span>843<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w28e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f0 y214c w28f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsac wsd7\">16,346<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f1 y214c w290 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsae wsd8\">1<span class=\"_ _1\"></span>7,<span class=\"_ _2\"></span>9<span class=\"_ _1\"></span>6<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w291 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Euro<span class=\"_ _2\"></span>pe, exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f2 y213e w292 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">2,<span class=\"_ _2\"></span>661<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f3 y213e w293 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">2,810<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w294 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Asia and other<span class=\"_ _0\"></span> regions<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f4 y214f w295 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb0 wsdb\">2<span class=\"_ _2\"></span>,737<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f5 y214f w296 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsba wsea\">3,046<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w297 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa5 wsd1\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f6 y2069 w298 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa8 wsd5\">31,981<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f7 y2069 w299 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">33,660<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>During 20<span class=\"_ _0\"></span>25, the allocation o<span class=\"_ _0\"></span>f certain intangible assets across geographies was<span class=\"_ _0\"></span> reassessed, at<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ibu<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng t<span class=\"_ _2\"></span>he as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s to th<span class=\"_ _2\"></span>e cou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rie<span class=\"_ _2\"></span>s in wh<span class=\"_ _2\"></span>ich t<span class=\"_ _2\"></span>he un<span class=\"_ _2\"></span>der<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>ax ba<span class=\"_ _2\"></span>se e<span class=\"_ _2\"></span>cono<span class=\"_ _2\"></span>mic a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y arises, rather than t<span class=\"_ _0\"></span>o the domicile or<span class=\"_ _0\"></span> currency of the c<span class=\"_ _0\"></span>ompanies impacted. While total non-<span class=\"_ _2\"></span>current<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are unchanged, the<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>4 non-current assets by location have<span class=\"_ _0\"></span> been re<span class=\"_ _2\"></span>-p<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>ente<span class=\"_ _2\"></span>d res<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>ing i<span class=\"_ _2\"></span>n a dec<span class=\"_ _2\"></span>rea<span class=\"_ _2\"></span>se of \u00a3<span class=\"_ _2\"></span>2,7<span class=\"_ _2\"></span>21 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on in t<span class=\"_ _2\"></span>he US a<span class=\"_ _2\"></span>nd of \u00a3<span class=\"_ _2\"></span>629 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n in Eu<span class=\"_ _2\"></span>rop<span class=\"_ _2\"></span>e exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K and i<span class=\"_ _2\"></span>ncre<span class=\"_ _2\"></span>ase<span class=\"_ _2\"></span>s of \u00a31<span class=\"_ _2\"></span>,9<span class=\"_ _2\"></span>15 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on an<span class=\"_ _2\"></span>d \u00a31<span class=\"_ _2\"></span>,43<span class=\"_ _2\"></span>5 mill<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>n th<span class=\"_ _2\"></span>e UK an<span class=\"_ _2\"></span>d As<span class=\"_ _2\"></span>ia an<span class=\"_ _2\"></span>d oth<span class=\"_ _2\"></span>er regions<span class=\"_ _0\"></span> respectively<span class=\"_ _314\"> </span>3.<span class=\"_ _2\"></span>2 T<span class=\"_ _3\"></span>o<span class=\"_ _2\"></span>tal reve<span class=\"_ _2\"></span>nue by ge<span class=\"_ _2\"></span>ogra<span class=\"_ _2\"></span>phica<span class=\"_ _2\"></span>l loca<span class=\"_ _2\"></span>tion<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s rev<span class=\"_ _2\"></span>enue d<span class=\"_ _2\"></span>isag<span class=\"_ _2\"></span>greg<span class=\"_ _2\"></span>ated by g<span class=\"_ _2\"></span>eog<span class=\"_ _2\"></span>rap<span class=\"_ _2\"></span>hica<span class=\"_ _2\"></span>l loc<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>n of ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>r is as fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>s: <table class=\"s w2f9 h232\" id=\"_9ade7486-55fc-44a8-b5a5-5963610ddf36\"><tr><td></td><td class=\"c n x4c5 y2196 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2196 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5b8 y2197 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b9 y2197 w244 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w8f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ba y214a w2fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa8 wsd5\">2<span class=\"_ _2\"></span>,918<span class=\"_ _314\"> </span></div></td><td class=\"c n x5bb y214a w2fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls61 ws86\">2,7<span class=\"_ _2\"></span>17<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w28e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n x5bc y2066 w2fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa3 wsce\">3,<span class=\"_ _2\"></span>418<span class=\"_ _314\"> </span></div></td><td class=\"c n x5bd y2066 w2fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb9 wse9\">3<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w291 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Euro<span class=\"_ _2\"></span>pe, exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x5be y214c w2fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">1,<span class=\"_ _2\"></span>253<span class=\"_ _314\"> </span></div></td><td class=\"c n x5bf y214c w2ff h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">1<span class=\"_ _2\"></span>,20<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w300 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa7 wsd3\">Asia<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c0 y213e w301 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws0\">1,03<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c1 y213e w302 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">991<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w303 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c2 y2068 w304 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">457<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c3 y2068 w305 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls73 ws9c\">4<span class=\"_ _2\"></span>42<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w2bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c4 y2069 w306 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls58 wsb5\">9,08<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c5 y2069 w307 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa7 wsd3\">8<span class=\"_ _2\"></span>,579<span class=\"_ _314\"> </span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGeographicalAreasExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-479": {
   "value": "<div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls22 ws3 gs129\">3.1 T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al inco<span class=\"_ _2\"></span>me</div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs12a\">  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff73 fs2 fc1 sc0 ls46 wsb9 gs12b\">Revenu<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs12c\">The m<span class=\"_ _2\"></span>ain so<span class=\"_ _2\"></span>urce of rev<span class=\"_ _2\"></span>enue fo<span class=\"_ _2\"></span>r the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>s fees fo<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices<span class=\"_ _314\"> </span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls10 ws20 gs12d\">provided. Re<span class=\"_ _0\"></span>venue is<span class=\"_ _0\"></span> measured based<span class=\"_ _0\"></span> on the consideration<span class=\"_ _314\"> </span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs12e\">spe<span class=\"_ _2\"></span>cif<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>d in a con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h a cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. Th<span class=\"_ _2\"></span>e follo<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>g are exclu<span class=\"_ _2\"></span>ded<span class=\"_ _314\"> </span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs12f\">fro<span class=\"_ _2\"></span>m reven<span class=\"_ _2\"></span>ue:<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs130\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">V<span class=\"_ _0\"></span>alue added tax and other sales-related taxes<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs131\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Cer<span class=\"_ _2\"></span>tain r<span class=\"_ _0\"></span>evenue share<span class=\"_ _0\"></span> arrangem<span class=\"_ _2\"></span>ents (whereby as<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>t of<span class=\"_ _314\"> </span></span><span class=\"ls6 ws7\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs132\">an agreement amounts are<span class=\"_ _0\"></span> due back to<span class=\"_ _0\"></span> the cus<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>omer)<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs133\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Cer<span class=\"_ _2\"></span>tain pass-through cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> where the Group act<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> as an agent<span class=\"_ _314\"> </span></span><span class=\"ls6 ws7\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs134\">and h<span class=\"_ _2\"></span>as ar<span class=\"_ _2\"></span>rang<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nts t<span class=\"_ _2\"></span>o recove<span class=\"_ _2\"></span>r spec<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ic cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s from i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs135\">cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>ers w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h no mar<span class=\"_ _2\"></span>k-u<span class=\"_ _2\"></span>p<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls9 ws7 gs136\">The Group r<span class=\"_ _0\"></span>ecognises revenue as<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices are<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formed and<span class=\"_ _0\"></span> as it<span class=\"_ _314\"> </span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls1e ws3 gs137\">sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>es it<span class=\"_ _2\"></span>s ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns to pro<span class=\"_ _2\"></span>vid<span class=\"_ _2\"></span>e a produ<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice to a cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer.<span class=\"_ _314\"> </span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs138\">The Group\u2019<span class=\"_ _0\"></span>s re<span class=\"_ _0\"></span>venue accounting policies ar<span class=\"_ _0\"></span>e set out below:<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff72 fs129 fc1 sc0 ls6a ws3 gs139\">Dat<span class=\"_ _2\"></span>a &amp;<span class=\"_ _314\"> </span> </div><div class=\"t m0 h187 ff72 fs129 fc1 sc0 ls95 wsc2 gs13a\">Analy<span class=\"_ _2\"></span>tics<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs13b\">The Data &amp;<span class=\"_ _0\"></span> Analy<span class=\"_ _2\"></span>tic<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> div<span class=\"_ _2\"></span>ision<span class=\"_ _0\"></span> generates rev<span class=\"_ _0\"></span>enue<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls76 ws5 gs13c\">by providing inf<span class=\"_ _0\"></span>ormatio<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span> and data product<span class=\"_ _2\"></span>s including<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls89 wsda gs13d\">real-time pricing data, trade<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting and<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls76 ws5 gs13e\">reconciliation serv<span class=\"_ _2\"></span>ices.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff72 fs129 fc1 sc0 ls6d wsd4 gs13f\">Data subscription fees<span class=\"_ _0\"></span> <span class=\"ff71 ls6a ws3\">a<span class=\"_ _2\"></span>re reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r the<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6a ws3\"><span class=\"_ _2\"></span> </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs140\">lic<span class=\"_ _2\"></span>ence o<span class=\"_ _2\"></span>r usa<span class=\"_ _2\"></span>ge pe<span class=\"_ _2\"></span>riod i<span class=\"_ _2\"></span>n lin<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>h th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls76 ws5 gs141\">obligation to deliver data<span class=\"_ _0\"></span> consistent<span class=\"_ _2\"></span>ly throughout<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs142\">the licence<span class=\"_ _0\"></span> period. Ser<span class=\"_ _2\"></span>vices are<span class=\"_ _0\"></span> billed on a<span class=\"_ _0\"></span> monthl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>,<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs143\">quar<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> or annual basis.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff72 fs129 fc1 sc0 ls6d wsd4 gs144\">Other information services<span class=\"ff71 ls6c ws7e\"> include licences<span class=\"_ _0\"></span> to the<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6c ws7e\"> </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs145\">ref<span class=\"_ _0\"></span>erence data businesses.<span class=\"_ _0\"></span> Revenue from<span class=\"_ _0\"></span> licences<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs146\">th<span class=\"_ _2\"></span>at gr<span class=\"_ _2\"></span>ant t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>ght to a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s intel<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>tu<span class=\"_ _2\"></span>al pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y are<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs147\">rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>ver ti<span class=\"_ _2\"></span>me, co<span class=\"_ _2\"></span>nsis<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t wi<span class=\"_ _2\"></span>th th<span class=\"_ _2\"></span>e pat<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>rn of t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs148\">ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span> provision and how<span class=\"_ _0\"></span> the per<span class=\"_ _2\"></span>formanc<span class=\"_ _0\"></span>e obligation<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs149\">is satisf<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> throughout the licence period. R<span class=\"_ _0\"></span>evenues<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs14a\">fro<span class=\"_ _2\"></span>m th<span class=\"_ _2\"></span>e sale o<span class=\"_ _2\"></span>f rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span>-us<span class=\"_ _2\"></span>e lice<span class=\"_ _2\"></span>nces a<span class=\"_ _2\"></span>re reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs14b\">th<span class=\"_ _2\"></span>e poi<span class=\"_ _2\"></span>nt th<span class=\"_ _2\"></span>e lice<span class=\"_ _2\"></span>nce is g<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>ted or s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ce is de<span class=\"_ _2\"></span>live<span class=\"_ _2\"></span>red<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff72 fs129 fc1 sc0 ls67 ws61 gs14c\">Recover<span class=\"_ _2\"></span>ies<span class=\"ff71 ls89 wsda\"> consist of<span class=\"_ _0\"></span> fees f<span class=\"_ _0\"></span>or content, such<span class=\"_ _0\"></span> as<span class=\"_ _314\"> </span></span><span class=\"ff71 ls89 wsda\"> </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs14d\">exch<span class=\"_ _2\"></span>ange d<span class=\"_ _2\"></span>ata t<span class=\"_ _2\"></span>hat i<span class=\"_ _2\"></span>s dis<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ibu<span class=\"_ _2\"></span>ted di<span class=\"_ _2\"></span>rec<span class=\"_ _2\"></span>tl<span class=\"_ _2\"></span>y to cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>s,<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs14e\">and communications f<span class=\"_ _0\"></span>ees. Recoveries<span class=\"_ _0\"></span> are generally<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs14f\">rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>ver th<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct te<span class=\"_ _2\"></span>rm.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff72 fs129 fc1 sc0 ls6d wsd4 gs150\">FTSE Russell <span class=\"ff71 ls6a ws3\">Rev<span class=\"_ _2\"></span>enue i<span class=\"_ _2\"></span>n the F<span class=\"_ _2\"></span>TS<span class=\"_ _2\"></span>E Rus<span class=\"_ _2\"></span>sel<span class=\"_ _2\"></span>l div<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>on is ge<span class=\"_ _2\"></span>ner<span class=\"_ _2\"></span>ated<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6a ws3\"><span class=\"_ _2\"></span> </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs151\">by pr<span class=\"_ _2\"></span>ovi<span class=\"_ _2\"></span>ding a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s to dat<span class=\"_ _2\"></span>a prod<span class=\"_ _2\"></span>uc<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>, suc<span class=\"_ _2\"></span>h as in<span class=\"_ _2\"></span>dexes<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs152\">and benchmarks.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff72 fs129 fc1 sc0 ls6d wsd4 gs153\">Index and data<span class=\"_ _0\"></span> benchmark licence f<span class=\"_ _0\"></span>ees<span class=\"ff71 lsa8 wse8\"> are r<span class=\"_ _0\"></span>ecognised<span class=\"_ _314\"> </span></span><span class=\"ff71 lsa8 wse8\"> </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs154\">ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>icen<span class=\"_ _2\"></span>ce or us<span class=\"_ _2\"></span>age p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d in li<span class=\"_ _2\"></span>ne wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs155\">obligation to deliver<span class=\"_ _0\"></span> data consistently throughout the<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs156\">licence<span class=\"_ _0\"></span> period. Ser<span class=\"_ _2\"></span>vices are<span class=\"_ _0\"></span> billed on a<span class=\"_ _0\"></span> mont<span class=\"_ _2\"></span>hly<span class=\"_ _0\"></span>,<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs157\">quar<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> or annual basis.<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff72 fs129 fc1 sc0 ls6d ws97 gs158\">Risk<span class=\"_ _314\"> </span> </div><div class=\"t m0 h187 ff72 fs129 fc1 sc0 ls6d ws97 gs159\">Intelligence<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs15a\">Revenue<span class=\"_ _0\"></span> in the Risk Int<span class=\"_ _0\"></span>elligence division includes<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs15b\">third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y risk<span class=\"_ _0\"></span> screening and due<span class=\"_ _0\"></span> diligence serv<span class=\"_ _2\"></span>ices.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws96 gs15c\">Various<span class=\"_ _0\"></span> <span class=\"ff72 ws7e\">brokerage<span class=\"_ _0\"></span> processing, risk<span class=\"_ _0\"></span> solutions and<span class=\"_ _314\"> </span></span><span class=\"ff72 ws7e\"> </span></div><div class=\"t m0 h193 ff72 fs129 fc1 sc0 lsa3 wsd4 gs15d\">professional services<span class=\"ff71 lsb0 ws7e\">, which are<span class=\"_ _0\"></span> generally billed in arrears,<span class=\"_ _314\"> </span></span><span class=\"ff71 lsb0 ws7e\"> </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs15e\">are re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as reve<span class=\"_ _2\"></span>nue a<span class=\"_ _2\"></span>t the p<span class=\"_ _2\"></span>oin<span class=\"_ _2\"></span>t in ti<span class=\"_ _2\"></span>me wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls89 wsda gs15f\">Group meets its obligation t<span class=\"_ _0\"></span>o complete<span class=\"_ _0\"></span> the transac<span class=\"_ _2\"></span>tion<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs160\">or s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>e. Sub<span class=\"_ _2\"></span>scr<span class=\"_ _2\"></span>ipt<span class=\"_ _2\"></span>ion fee<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t prov<span class=\"_ _2\"></span>ide a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s to th<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs161\">Group\u2019<span class=\"_ _0\"></span>s risk-screening<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices on<span class=\"_ _0\"></span> a continuous basis<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs162\">ove<span class=\"_ _2\"></span>r the s<span class=\"_ _2\"></span>ubsc<span class=\"_ _2\"></span>rip<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n per<span class=\"_ _2\"></span>iod<span class=\"_ _2\"></span>, are reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed ov<span class=\"_ _2\"></span>er ti<span class=\"_ _2\"></span>me,<span class=\"_ _314\"> </span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs163\">as the Group<span class=\"_ _0\"></span> satis<span class=\"_ _2\"></span>fies the performance obligation.<span class=\"_ _314\"> </span></div>Markets<span class=\"_ _131\"> </span><span class=\"ff71 ls6a ws3\">R<span class=\"_ _2\"></span>evenu<span class=\"_ _2\"></span>e in th<span class=\"_ _2\"></span>e Mar<span class=\"_ _2\"></span>ket<span class=\"_ _2\"></span>s div<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>on is g<span class=\"_ _2\"></span>ener<span class=\"_ _2\"></span>ated f<span class=\"_ _2\"></span>rom:<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6a ws3\"><span class=\"_ _2\"></span> </span>primar<span class=\"_ _2\"></span>y and<span class=\"_ _0\"></span> secondar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> market services; contract<span class=\"_ _2\"></span>s to<span class=\"_ _314\"> </span><span class=\"_ _0\"></span> develop<span class=\"_ _0\"></span> capit<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> market<span class=\"_ _0\"></span> technology solutions; soft<span class=\"_ _2\"></span>ware<span class=\"_ _314\"> </span> licences;<span class=\"_ _0\"></span> transac<span class=\"_ _2\"></span>tion and c<span class=\"_ _0\"></span>ommission fees; network<span class=\"_ _314\"> </span> connection<span class=\"_ _2\"></span>s;<span class=\"_ _0\"></span> hosting ser<span class=\"_ _2\"></span>vices; and<span class=\"_ _0\"></span> clearing, sett<span class=\"_ _2\"></span>lement<span class=\"_ _314\"> </span> and other post trade services.<span class=\"_ _314\"> </span>We hav<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>d tha<span class=\"_ _2\"></span>t <span class=\"ff72 ls7b ws7e\">primary market initial admission<span class=\"_ _314\"> </span></span><span class=\"ff72 ls7b ws7e\"> </span>and the<span class=\"_ _0\"></span> ongoing listing services<span class=\"ff71\"> repr<span class=\"_ _0\"></span>esent one<span class=\"_ _314\"> </span></span><span class=\"ff71\"> </span>per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance obligation. The Group ther<span class=\"_ _0\"></span>efore<span class=\"_ _314\"> </span> recognises<span class=\"_ _0\"></span> revenue<span class=\"_ _0\"></span> from initial admission<span class=\"_ _0\"></span> and any<span class=\"_ _314\"> </span> subsequent issues o<span class=\"_ _0\"></span>ver the period that the<span class=\"_ _0\"></span> Group<span class=\"_ _314\"> </span> provides the listing serv<span class=\"_ _2\"></span>ic<span class=\"_ _0\"></span>es. All admission fees<span class=\"_ _0\"></span> are<span class=\"_ _314\"> </span> billed to<span class=\"_ _0\"></span> the customer at<span class=\"_ _0\"></span> the time of admissi<span class=\"_ _0\"></span>on to trading<span class=\"_ _314\"> </span> and become<span class=\"_ _0\"></span> payable when inv<span class=\"_ _0\"></span>oiced. Reve<span class=\"_ _0\"></span>nue from<span class=\"_ _314\"> </span> bond admissions<span class=\"_ _0\"></span> is generally rec<span class=\"_ _0\"></span>ognised at the point<span class=\"_ _0\"></span> of<span class=\"_ _314\"> </span> ad<span class=\"_ _2\"></span>miss<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>, as th<span class=\"_ _2\"></span>is ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice is d<span class=\"_ _2\"></span>eli<span class=\"_ _2\"></span>vere<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e est<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>ted pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>ds for l<span class=\"_ _2\"></span>ist<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>g ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices (ov<span class=\"_ _2\"></span>er wh<span class=\"_ _2\"></span>ich<span class=\"_ _314\"> </span> initial admission and<span class=\"_ _0\"></span> subsequent issuance f<span class=\"_ _0\"></span>ees are<span class=\"_ _314\"> </span> spread) are<span class=\"_ _0\"></span> determined with ref<span class=\"_ _0\"></span>erence to<span class=\"_ _0\"></span> historical<span class=\"_ _314\"> </span> ana<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>sis of l<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g dura<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns in re<span class=\"_ _2\"></span>spe<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>f the co<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>nies o<span class=\"_ _2\"></span>n<span class=\"_ _314\"> </span> our mark<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>s. De<span class=\"_ _0\"></span>ferral periods are<span class=\"_ _0\"></span> calculated by gr<span class=\"_ _0\"></span>ouping<span class=\"_ _314\"> </span> contrac<span class=\"_ _2\"></span>ts based on<span class=\"_ _0\"></span> similar performance obligations.<span class=\"_ _314\"> </span>Primary market annual fees, secondary market<span class=\"_ _314\"> </span> membership and subscription fees<span class=\"_ _0\"></span> <span class=\"ff71 ls6c ws7e\">are generally<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6c ws7e\"> </span>invoiced in<span class=\"_ _0\"></span> advance at the beginning of<span class=\"_ _0\"></span> the member<span class=\"_ _2\"></span>ship<span class=\"_ _314\"> </span> or the subscription period.<span class=\"_ _0\"></span> The Group recognises<span class=\"_ _314\"> </span> reve<span class=\"_ _2\"></span>nue o<span class=\"_ _2\"></span>n a st<span class=\"_ _2\"></span>raig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>lin<span class=\"_ _2\"></span>e bas<span class=\"_ _2\"></span>is over t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d to wh<span class=\"_ _2\"></span>ich<span class=\"_ _314\"> </span> th<span class=\"_ _2\"></span>e fee rel<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>, as t<span class=\"_ _2\"></span>his ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t of the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019s<span class=\"_ _314\"> </span> progress<span class=\"_ _0\"></span> towards comple<span class=\"_ _0\"></span>tion of the performance<span class=\"_ _314\"> </span> obligation under the c<span class=\"_ _0\"></span>ontr<span class=\"_ _2\"></span>act.<span class=\"_ _314\"> </span>Reve<span class=\"_ _2\"></span>nue f<span class=\"_ _2\"></span>rom <span class=\"ff72 ls6c ws7e\">secondary market<span class=\"_ _0\"></span> trading and<span class=\"_ _314\"> </span></span><span class=\"ff72 ls6c ws7e\"> </span>associated capital mark<span class=\"_ _0\"></span>et serv<span class=\"_ _2\"></span>ices<span class=\"ff71 ls76 ws5\">,<span class=\"_ _0\"></span> which includes<span class=\"_ _314\"> </span></span><span class=\"ff71 ls76 ws5\"> </span>trading of fixed i<span class=\"_ _0\"></span>ncome, derivatives and f<span class=\"_ _0\"></span>oreign<span class=\"_ _314\"> </span> exch<span class=\"_ _0\"></span>ange, is r<span class=\"_ _0\"></span>ecognised on a<span class=\"_ _0\"></span> per transact<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span> at t<span class=\"_ _2\"></span>he po<span class=\"_ _2\"></span>int t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice i<span class=\"_ _2\"></span>s prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span>Capital markets soft<span class=\"_ _2\"></span>ware licenc<span class=\"_ _0\"></span>e<span class=\"ff71 lsa4 wsd6\"> cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>ts cont<span class=\"_ _2\"></span>ain<span class=\"_ _314\"> </span></span><span class=\"ff71 lsa4 wsd6\"> </span>multiple deliverable<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> including: providing licences;<span class=\"_ _314\"> </span><span class=\"_ _0\"></span> installing sof<span class=\"_ _2\"></span>tware; and<span class=\"_ _0\"></span> ongoing maintenance serv<span class=\"_ _2\"></span>ices.<span class=\"_ _314\"> </span> Th<span class=\"_ _2\"></span>e tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion p<span class=\"_ _2\"></span>rice fo<span class=\"_ _2\"></span>r eac<span class=\"_ _2\"></span>h cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t is a<span class=\"_ _2\"></span>llo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to<span class=\"_ _314\"> </span> these performance obligations based upon<span class=\"_ _0\"></span> the relative<span class=\"_ _314\"> </span> standalone selling pric<span class=\"_ _0\"></span>e. Rev<span class=\"_ _0\"></span>enue is r<span class=\"_ _0\"></span>ecognised based on<span class=\"_ _314\"> </span> the actual ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span> provided during the reporting period<span class=\"_ _314\"> </span> as a p<span class=\"_ _2\"></span>ropo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e tota<span class=\"_ _2\"></span>l ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices to b<span class=\"_ _2\"></span>e prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span> This is<span class=\"_ _0\"></span> determined by<span class=\"_ _0\"></span> measuring the inputs consumed<span class=\"_ _314\"> </span><span class=\"_ _0\"></span> in d<span class=\"_ _2\"></span>eli<span class=\"_ _2\"></span>veri<span class=\"_ _2\"></span>ng th<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice (fo<span class=\"_ _2\"></span>r exam<span class=\"_ _2\"></span>ple m<span class=\"_ _2\"></span>ater<span class=\"_ _2\"></span>ial an<span class=\"_ _2\"></span>d<span class=\"_ _314\"> </span> lab<span class=\"_ _2\"></span>our<span class=\"_ _2\"></span>) rela<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve to th<span class=\"_ _2\"></span>e tota<span class=\"_ _2\"></span>l expe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>ted in<span class=\"_ _2\"></span>put co<span class=\"_ _2\"></span>nsu<span class=\"_ _2\"></span>mpt<span class=\"_ _2\"></span>ion<span class=\"_ _314\"> </span> ove<span class=\"_ _2\"></span>r the co<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>. This b<span class=\"_ _2\"></span>es<span class=\"_ _2\"></span>t ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s the t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sfe<span class=\"_ _2\"></span>r of<span class=\"_ _314\"> </span> economic benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to the customer which<span class=\"_ _0\"></span> generally<span class=\"_ _314\"> </span> occurs as the Group<span class=\"_ _0\"></span> incurs cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on the contract<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Subscription fees<span class=\"ff71 ls6a ws3\"> for acc<span class=\"_ _2\"></span>ess to t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6a ws3\"> </span>el<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tron<span class=\"_ _2\"></span>ic ma<span class=\"_ _2\"></span>rketp<span class=\"_ _2\"></span>lace<span class=\"_ _2\"></span>s are us<span class=\"_ _2\"></span>uall<span class=\"_ _2\"></span>y cha<span class=\"_ _2\"></span>rge<span class=\"_ _2\"></span>d on a f<span class=\"_ _2\"></span>ixed<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> fee b<span class=\"_ _2\"></span>asis<span class=\"_ _2\"></span>. Reve<span class=\"_ _2\"></span>nue is r<span class=\"_ _2\"></span>ecog<span class=\"_ _2\"></span>nis<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r the p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d th<span class=\"_ _2\"></span>at<span class=\"_ _314\"> </span> acc<span class=\"_ _2\"></span>ess is p<span class=\"_ _2\"></span>rov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d to the c<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>r as it re<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span> Group\u2019<span class=\"_ _0\"></span>s satisfac<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> obligations.<span class=\"_ _314\"> </span> T<span class=\"_ _0\"></span>ransaction and commission f<span class=\"_ _0\"></span>ees are earned<span class=\"_ _0\"></span> from<span class=\"_ _314\"> </span> tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns th<span class=\"_ _2\"></span>at are exe<span class=\"_ _2\"></span>cu<span class=\"_ _2\"></span>ted on t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e elec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>roni<span class=\"_ _2\"></span>c<span class=\"_ _314\"> </span> marketplaces. R<span class=\"_ _0\"></span>evenue is r<span class=\"_ _0\"></span>ecognised on the transaction<span class=\"_ _314\"> </span> date which<span class=\"_ _0\"></span> is when per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> obligations are<span class=\"_ _314\"> </span> de<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>d to have b<span class=\"_ _2\"></span>een s<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>sf<span class=\"_ _2\"></span>ied<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Network connect<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> and hosting ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span><span class=\"ff71 ls4 ws76\"> revenue<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span><span class=\"ff71 ls4 ws76\"> </span>are re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d on a s<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t-l<span class=\"_ _2\"></span>ine b<span class=\"_ _2\"></span>asis o<span class=\"_ _2\"></span>ver th<span class=\"_ _2\"></span>e per<span class=\"_ _2\"></span>iod<span class=\"_ _314\"> </span> to wh<span class=\"_ _2\"></span>ich t<span class=\"_ _2\"></span>he fee re<span class=\"_ _2\"></span>late<span class=\"_ _2\"></span>s as th<span class=\"_ _2\"></span>is ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>uous<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> transfer of t<span class=\"_ _0\"></span>echnolog<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices and me<span class=\"_ _0\"></span>asures the<span class=\"_ _314\"> </span> ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t of pro<span class=\"_ _2\"></span>gres<span class=\"_ _2\"></span>s towa<span class=\"_ _2\"></span>rds t<span class=\"_ _2\"></span>he com<span class=\"_ _2\"></span>plet<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f the<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance obligation<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>Markets<span class=\"ls4 ws3\"> </span>continued<span class=\"_ _314\"> </span>Over-the-<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ounter (OT<span class=\"_ _0\"></span>C) derivatives, and securities clearing and<span class=\"_ _0\"></span> reporting<span class=\"ff71\"> generate fees<span class=\"_ _0\"></span> from: individual </span>transac<span class=\"_ _2\"></span>tions<span class=\"_ _0\"></span> or contract<span class=\"_ _2\"></span>s clear<span class=\"_ _0\"></span>ed and settled; transac<span class=\"_ _2\"></span>tion r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting; risk man<span class=\"_ _0\"></span>agement<span class=\"_ _2\"></span>; and<span class=\"_ _0\"></span> other financial resources<span class=\"_ _0\"></span> management serv<span class=\"_ _2\"></span>ices.<span class=\"_ _0\"></span> These revenues<span class=\"_ _0\"></span> are earned at<span class=\"_ _0\"></span> the point in time<span class=\"_ _0\"></span> when the Group meets its obligations to c<span class=\"_ _0\"></span>omplete the transaction or ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span>. Revenue<span class=\"_ _0\"></span> is recognised<span class=\"_ _0\"></span> and billed monthly in<span class=\"_ _0\"></span> arrears. Cer<span class=\"_ _2\"></span>tain<span class=\"_ _0\"></span> cus<span class=\"_ _2\"></span>tomers<span class=\"_ _0\"></span> have a fixed-fee arrangement wh<span class=\"_ _2\"></span>ich is n<span class=\"_ _2\"></span>ot lin<span class=\"_ _2\"></span>ked to in<span class=\"_ _2\"></span>div<span class=\"_ _2\"></span>id<span class=\"_ _2\"></span>ual t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ons an<span class=\"_ _2\"></span>d thi<span class=\"_ _2\"></span>s reve<span class=\"_ _2\"></span>nue i<span class=\"_ _2\"></span>s recog<span class=\"_ _2\"></span>nis<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r tim<span class=\"_ _2\"></span>e as th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up ful<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ils i<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span> obligations to maintain the availability of the clearing sy<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>em to th<span class=\"_ _2\"></span>at cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer.<span class=\"_ _314\"> </span>Margin management <span class=\"ff71 ls6c ws7e\">generat<span class=\"_ _0\"></span>es fees from<span class=\"_ _0\"></span> providing </span>cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>h acce<span class=\"_ _2\"></span>ss to a re<span class=\"_ _2\"></span>conc<span class=\"_ _2\"></span>ilia<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n pla<span class=\"_ _2\"></span>tfo<span class=\"_ _2\"></span>rm,<span class=\"_ _2\"></span> where count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ties submit trade information<span class=\"_ _0\"></span> for the purpose of rec<span class=\"_ _0\"></span>onciling and agreeing initial margin<span class=\"_ _0\"></span> calls, and to<span class=\"_ _0\"></span> an online<span class=\"_ _0\"></span> messaging application to<span class=\"_ _0\"></span> manage pledges, receive<span class=\"_ _0\"></span> margin messaging<span class=\"_ _0\"></span> and resolve di<span class=\"_ _2\"></span>spu<span class=\"_ _2\"></span>tes. Re<span class=\"_ _2\"></span>venu<span class=\"_ _2\"></span>e is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>t a poin<span class=\"_ _2\"></span>t in t<span class=\"_ _2\"></span>ime w<span class=\"_ _2\"></span>hen th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up mee<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>ts o<span class=\"_ _2\"></span>bli<span class=\"_ _2\"></span>gat<span class=\"_ _2\"></span>ion to d<span class=\"_ _2\"></span>eli<span class=\"_ _2\"></span>ver t<span class=\"_ _2\"></span>he ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice.<span class=\"_ _2\"></span> Some customers hav<span class=\"_ _0\"></span>e a subscription<span class=\"_ _0\"></span> and receive<span class=\"_ _0\"></span> acc<span class=\"_ _2\"></span>ess to t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e plat<span class=\"_ _2\"></span>fo<span class=\"_ _2\"></span>rms ov<span class=\"_ _2\"></span>er a per<span class=\"_ _2\"></span>iod<span class=\"_ _2\"></span>. Fo<span class=\"_ _2\"></span>r the<span class=\"_ _2\"></span>se customers, revenue<span class=\"_ _0\"></span> is recognised<span class=\"_ _0\"></span> over the<span class=\"_ _0\"></span> subscription pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d as it re<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>nuou<span class=\"_ _2\"></span>s tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>fer of se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>e by the Group<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Non-<span class=\"_ _2\"></span>cash collateral<span class=\"_ _0\"></span><span class=\"ff71 ls6c ws7e\"> fees are<span class=\"_ _0\"></span> earned from handling </span>non-<span class=\"_ _2\"></span>cash collat<span class=\"_ _0\"></span>eral balances. The<span class=\"_ _0\"></span> fees are<span class=\"_ _0\"></span> recognised as rev<span class=\"_ _0\"></span>enue over the<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vice period that<span class=\"_ _0\"></span> balances are held, representing<span class=\"_ _0\"></span> the continuous transfer of services during that time.<span class=\"_ _314\"> </span>Fe<span class=\"_ _2\"></span>es rec<span class=\"_ _2\"></span>eive<span class=\"_ _2\"></span>d for t<span class=\"_ _2\"></span>hird<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y con<span class=\"_ _2\"></span>tent o<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices<span class=\"_ _2\"></span>, suc<span class=\"_ _2\"></span>h as s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle<span class=\"_ _2\"></span>ment f<span class=\"_ _2\"></span>ees<span class=\"_ _2\"></span>, are rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed n<span class=\"_ _2\"></span>et wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n reven<span class=\"_ _2\"></span>ue on t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te of th<span class=\"_ _2\"></span>e tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Those customer contract<span class=\"_ _2\"></span>s across<span class=\"_ _0\"></span> the Group that contain a s<span class=\"_ _0\"></span>ingle pe<span class=\"_ _2\"></span>rfo<span class=\"_ _2\"></span>rma<span class=\"_ _2\"></span>nce obl<span class=\"_ _2\"></span>igat<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>t a fi<span class=\"_ _2\"></span>xed pr<span class=\"_ _2\"></span>ice do n<span class=\"_ _2\"></span>ot requ<span class=\"_ _2\"></span>ire va<span class=\"_ _2\"></span>riab<span class=\"_ _2\"></span>le consideration to be<span class=\"_ _0\"></span> calculated. However<span class=\"_ _0\"></span>, some businesses<span class=\"_ _0\"></span> in th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p prov<span class=\"_ _2\"></span>ide s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>es to cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>ers u<span class=\"_ _2\"></span>nder a t<span class=\"_ _2\"></span>iere<span class=\"_ _2\"></span>d or ta<span class=\"_ _2\"></span>rif<span class=\"_ _2\"></span>f pricing struc<span class=\"_ _2\"></span>ture that generat<span class=\"_ _0\"></span>es a degree of<span class=\"_ _0\"></span> variabilit<span class=\"_ _2\"></span>y in the reve<span class=\"_ _2\"></span>nue s<span class=\"_ _2\"></span>trea<span class=\"_ _2\"></span>ms fro<span class=\"_ _2\"></span>m the co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t as a res<span class=\"_ _2\"></span>ult of a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal ch<span class=\"_ _2\"></span>arge<span class=\"_ _2\"></span>s or di<span class=\"_ _2\"></span>scou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s give<span class=\"_ _2\"></span>n. W<span class=\"_ _2\"></span>here t<span class=\"_ _2\"></span>he fu<span class=\"_ _2\"></span>ture rev<span class=\"_ _2\"></span>enue f<span class=\"_ _2\"></span>rom a con<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>act<span class=\"_ _2\"></span> va<span class=\"_ _2\"></span>ries d<span class=\"_ _2\"></span>ue to fac<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span>rs t<span class=\"_ _2\"></span>hat are o<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>side t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s con<span class=\"_ _2\"></span>trol<span class=\"_ _2\"></span>, the<span class=\"_ _2\"></span> Group limits the total transac<span class=\"_ _2\"></span>tion price<span class=\"_ _0\"></span> at contrac<span class=\"_ _2\"></span>t i<span class=\"_ _0\"></span>nception and recognises the minimum<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> revenue guaranteed by<span class=\"_ _0\"></span> the ter<span class=\"_ _2\"></span>ms of t<span class=\"_ _2\"></span>he cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct ov<span class=\"_ _2\"></span>er the c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t pe<span class=\"_ _2\"></span>riod<span class=\"_ _2\"></span>. Any v<span class=\"_ _2\"></span>ari<span class=\"_ _2\"></span>able<span class=\"_ _2\"></span> element is subsequently recognised in<span class=\"_ _0\"></span> the period in which the va<span class=\"_ _2\"></span>riab<span class=\"_ _2\"></span>le con<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>ion is s<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>sf<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>d and t<span class=\"_ _2\"></span>here is n<span class=\"_ _2\"></span>o sign<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>nt ris<span class=\"_ _2\"></span>k of reve<span class=\"_ _2\"></span>rsa<span class=\"_ _2\"></span>l of tha<span class=\"_ _2\"></span>t revenu<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span>Rebates<span class=\"_ _0\"></span> given to customers as part of an operating agreement ar<span class=\"_ _0\"></span>e ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated on a p<span class=\"_ _2\"></span>ro<span class=\"_ _2\"></span>-r<span class=\"_ _2\"></span>ata b<span class=\"_ _2\"></span>asis o<span class=\"_ _2\"></span>n revenu<span class=\"_ _2\"></span>e earn<span class=\"_ _2\"></span>ed an<span class=\"_ _2\"></span>d recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as t<span class=\"_ _2\"></span>hey fa<span class=\"_ _2\"></span>ll due<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The Group does no<span class=\"_ _0\"></span>t have any<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts where the period between the trans<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span> of ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> to a customer and<span class=\"_ _0\"></span> when the cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>er is ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>o pay for t<span class=\"_ _2\"></span>hat se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice i<span class=\"_ _2\"></span>s lon<span class=\"_ _2\"></span>ger t<span class=\"_ _2\"></span>han on<span class=\"_ _2\"></span>e yea<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. A<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t, n<span class=\"_ _2\"></span>o adju<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts ar<span class=\"_ _2\"></span>e made to re<span class=\"_ _2\"></span>venu<span class=\"_ _2\"></span>e for any financing component<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-538": {
   "value": "3.1 T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al inco<span class=\"_ _2\"></span>me  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>Revenu<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span>The m<span class=\"_ _2\"></span>ain so<span class=\"_ _2\"></span>urce of rev<span class=\"_ _2\"></span>enue fo<span class=\"_ _2\"></span>r the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>s fees fo<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices<span class=\"_ _314\"> </span> provided. Re<span class=\"_ _0\"></span>venue is<span class=\"_ _0\"></span> measured based<span class=\"_ _0\"></span> on the consideration<span class=\"_ _314\"> </span> spe<span class=\"_ _2\"></span>cif<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>d in a con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h a cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. Th<span class=\"_ _2\"></span>e follo<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>g are exclu<span class=\"_ _2\"></span>ded<span class=\"_ _314\"> </span> fro<span class=\"_ _2\"></span>m reven<span class=\"_ _2\"></span>ue:<span class=\"_ _314\"> </span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">V<span class=\"_ _0\"></span>alue added tax and other sales-related taxes<span class=\"_ _314\"> </span></span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Cer<span class=\"_ _2\"></span>tain r<span class=\"_ _0\"></span>evenue share<span class=\"_ _0\"></span> arrangem<span class=\"_ _2\"></span>ents (whereby as<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>t of<span class=\"_ _314\"> </span></span><span class=\"ls6 ws7\"> </span>an agreement amounts are<span class=\"_ _0\"></span> due back to<span class=\"_ _0\"></span> the cus<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>omer)<span class=\"_ _314\"> </span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Cer<span class=\"_ _2\"></span>tain pass-through cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> where the Group act<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> as an agent<span class=\"_ _314\"> </span></span><span class=\"ls6 ws7\"> </span>and h<span class=\"_ _2\"></span>as ar<span class=\"_ _2\"></span>rang<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nts t<span class=\"_ _2\"></span>o recove<span class=\"_ _2\"></span>r spec<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ic cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s from i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span> cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>ers w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h no mar<span class=\"_ _2\"></span>k-u<span class=\"_ _2\"></span>p<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>ecognises revenue as<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices are<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formed and<span class=\"_ _0\"></span> as it<span class=\"_ _314\"> </span> sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>es it<span class=\"_ _2\"></span>s ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns to pro<span class=\"_ _2\"></span>vid<span class=\"_ _2\"></span>e a produ<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice to a cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer.<span class=\"_ _314\"> </span> The Group\u2019<span class=\"_ _0\"></span>s re<span class=\"_ _0\"></span>venue accounting policies ar<span class=\"_ _0\"></span>e set out below:<span class=\"_ _314\"> </span>Dat<span class=\"_ _2\"></span>a &amp;<span class=\"_ _314\"> </span> Analy<span class=\"_ _2\"></span>tics<span class=\"_ _314\"> </span>The Data &amp;<span class=\"_ _0\"></span> Analy<span class=\"_ _2\"></span>tic<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> div<span class=\"_ _2\"></span>ision<span class=\"_ _0\"></span> generates rev<span class=\"_ _0\"></span>enue<span class=\"_ _314\"> </span> by providing inf<span class=\"_ _0\"></span>ormatio<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span> and data product<span class=\"_ _2\"></span>s including<span class=\"_ _314\"> </span> real-time pricing data, trade<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting and<span class=\"_ _314\"> </span> reconciliation serv<span class=\"_ _2\"></span>ices.<span class=\"_ _314\"> </span>Data subscription fees<span class=\"_ _0\"></span> <span class=\"ff71 ls6a ws3\">a<span class=\"_ _2\"></span>re reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r the<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6a ws3\"><span class=\"_ _2\"></span> </span>lic<span class=\"_ _2\"></span>ence o<span class=\"_ _2\"></span>r usa<span class=\"_ _2\"></span>ge pe<span class=\"_ _2\"></span>riod i<span class=\"_ _2\"></span>n lin<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>h th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s<span class=\"_ _314\"> </span> obligation to deliver data<span class=\"_ _0\"></span> consistent<span class=\"_ _2\"></span>ly throughout<span class=\"_ _314\"> </span> the licence<span class=\"_ _0\"></span> period. Ser<span class=\"_ _2\"></span>vices are<span class=\"_ _0\"></span> billed on a<span class=\"_ _0\"></span> monthl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>,<span class=\"_ _314\"> </span> quar<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> or annual basis.<span class=\"_ _314\"> </span>Other information services<span class=\"ff71 ls6c ws7e\"> include licences<span class=\"_ _0\"></span> to the<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6c ws7e\"> </span>ref<span class=\"_ _0\"></span>erence data businesses.<span class=\"_ _0\"></span> Revenue from<span class=\"_ _0\"></span> licences<span class=\"_ _314\"> </span> th<span class=\"_ _2\"></span>at gr<span class=\"_ _2\"></span>ant t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>ght to a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s intel<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>tu<span class=\"_ _2\"></span>al pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y are<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>ver ti<span class=\"_ _2\"></span>me, co<span class=\"_ _2\"></span>nsis<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t wi<span class=\"_ _2\"></span>th th<span class=\"_ _2\"></span>e pat<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>rn of t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span> ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span> provision and how<span class=\"_ _0\"></span> the per<span class=\"_ _2\"></span>formanc<span class=\"_ _0\"></span>e obligation<span class=\"_ _314\"> </span> is satisf<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> throughout the licence period. R<span class=\"_ _0\"></span>evenues<span class=\"_ _314\"> </span> fro<span class=\"_ _2\"></span>m th<span class=\"_ _2\"></span>e sale o<span class=\"_ _2\"></span>f rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span>-us<span class=\"_ _2\"></span>e lice<span class=\"_ _2\"></span>nces a<span class=\"_ _2\"></span>re reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> th<span class=\"_ _2\"></span>e poi<span class=\"_ _2\"></span>nt th<span class=\"_ _2\"></span>e lice<span class=\"_ _2\"></span>nce is g<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>ted or s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ce is de<span class=\"_ _2\"></span>live<span class=\"_ _2\"></span>red<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Recover<span class=\"_ _2\"></span>ies<span class=\"ff71 ls89 wsda\"> consist of<span class=\"_ _0\"></span> fees f<span class=\"_ _0\"></span>or content, such<span class=\"_ _0\"></span> as<span class=\"_ _314\"> </span></span><span class=\"ff71 ls89 wsda\"> </span>exch<span class=\"_ _2\"></span>ange d<span class=\"_ _2\"></span>ata t<span class=\"_ _2\"></span>hat i<span class=\"_ _2\"></span>s dis<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ibu<span class=\"_ _2\"></span>ted di<span class=\"_ _2\"></span>rec<span class=\"_ _2\"></span>tl<span class=\"_ _2\"></span>y to cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>s,<span class=\"_ _314\"> </span> and communications f<span class=\"_ _0\"></span>ees. Recoveries<span class=\"_ _0\"></span> are generally<span class=\"_ _314\"> </span> rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>ver th<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct te<span class=\"_ _2\"></span>rm.<span class=\"_ _314\"> </span>FTSE Russell <span class=\"ff71 ls6a ws3\">Rev<span class=\"_ _2\"></span>enue i<span class=\"_ _2\"></span>n the F<span class=\"_ _2\"></span>TS<span class=\"_ _2\"></span>E Rus<span class=\"_ _2\"></span>sel<span class=\"_ _2\"></span>l div<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>on is ge<span class=\"_ _2\"></span>ner<span class=\"_ _2\"></span>ated<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6a ws3\"><span class=\"_ _2\"></span> </span>by pr<span class=\"_ _2\"></span>ovi<span class=\"_ _2\"></span>ding a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s to dat<span class=\"_ _2\"></span>a prod<span class=\"_ _2\"></span>uc<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>, suc<span class=\"_ _2\"></span>h as in<span class=\"_ _2\"></span>dexes<span class=\"_ _314\"> </span> and benchmarks.<span class=\"_ _314\"> </span>Index and data<span class=\"_ _0\"></span> benchmark licence f<span class=\"_ _0\"></span>ees<span class=\"ff71 lsa8 wse8\"> are r<span class=\"_ _0\"></span>ecognised<span class=\"_ _314\"> </span></span><span class=\"ff71 lsa8 wse8\"> </span>ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>icen<span class=\"_ _2\"></span>ce or us<span class=\"_ _2\"></span>age p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d in li<span class=\"_ _2\"></span>ne wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s<span class=\"_ _314\"> </span> obligation to deliver<span class=\"_ _0\"></span> data consistently throughout the<span class=\"_ _314\"> </span> licence<span class=\"_ _0\"></span> period. Ser<span class=\"_ _2\"></span>vices are<span class=\"_ _0\"></span> billed on a<span class=\"_ _0\"></span> mont<span class=\"_ _2\"></span>hly<span class=\"_ _0\"></span>,<span class=\"_ _314\"> </span> quar<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> or annual basis.<span class=\"_ _314\"> </span>Risk<span class=\"_ _314\"> </span> Intelligence<span class=\"_ _314\"> </span>Revenue<span class=\"_ _0\"></span> in the Risk Int<span class=\"_ _0\"></span>elligence division includes<span class=\"_ _314\"> </span> third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y risk<span class=\"_ _0\"></span> screening and due<span class=\"_ _0\"></span> diligence serv<span class=\"_ _2\"></span>ices.<span class=\"_ _314\"> </span>Various<span class=\"_ _0\"></span> <span class=\"ff72 ws7e\">brokerage<span class=\"_ _0\"></span> processing, risk<span class=\"_ _0\"></span> solutions and<span class=\"_ _314\"> </span></span><span class=\"ff72 ws7e\"> </span>professional services<span class=\"ff71 lsb0 ws7e\">, which are<span class=\"_ _0\"></span> generally billed in arrears,<span class=\"_ _314\"> </span></span><span class=\"ff71 lsb0 ws7e\"> </span>are re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as reve<span class=\"_ _2\"></span>nue a<span class=\"_ _2\"></span>t the p<span class=\"_ _2\"></span>oin<span class=\"_ _2\"></span>t in ti<span class=\"_ _2\"></span>me wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span> Group meets its obligation t<span class=\"_ _0\"></span>o complete<span class=\"_ _0\"></span> the transac<span class=\"_ _2\"></span>tion<span class=\"_ _314\"> </span> or s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>e. Sub<span class=\"_ _2\"></span>scr<span class=\"_ _2\"></span>ipt<span class=\"_ _2\"></span>ion fee<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t prov<span class=\"_ _2\"></span>ide a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s to th<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span> Group\u2019<span class=\"_ _0\"></span>s risk-screening<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices on<span class=\"_ _0\"></span> a continuous basis<span class=\"_ _314\"> </span> ove<span class=\"_ _2\"></span>r the s<span class=\"_ _2\"></span>ubsc<span class=\"_ _2\"></span>rip<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n per<span class=\"_ _2\"></span>iod<span class=\"_ _2\"></span>, are reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed ov<span class=\"_ _2\"></span>er ti<span class=\"_ _2\"></span>me,<span class=\"_ _314\"> </span> as the Group<span class=\"_ _0\"></span> satis<span class=\"_ _2\"></span>fies the performance obligation.<span class=\"_ _314\"> </span>Markets<span class=\"_ _131\"> </span><span class=\"ff71 ls6a ws3\">R<span class=\"_ _2\"></span>evenu<span class=\"_ _2\"></span>e in th<span class=\"_ _2\"></span>e Mar<span class=\"_ _2\"></span>ket<span class=\"_ _2\"></span>s div<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>on is g<span class=\"_ _2\"></span>ener<span class=\"_ _2\"></span>ated f<span class=\"_ _2\"></span>rom:<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6a ws3\"><span class=\"_ _2\"></span> </span>primar<span class=\"_ _2\"></span>y and<span class=\"_ _0\"></span> secondar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> market services; contract<span class=\"_ _2\"></span>s to<span class=\"_ _314\"> </span><span class=\"_ _0\"></span> develop<span class=\"_ _0\"></span> capit<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> market<span class=\"_ _0\"></span> technology solutions; soft<span class=\"_ _2\"></span>ware<span class=\"_ _314\"> </span> licences;<span class=\"_ _0\"></span> transac<span class=\"_ _2\"></span>tion and c<span class=\"_ _0\"></span>ommission fees; network<span class=\"_ _314\"> </span> connection<span class=\"_ _2\"></span>s;<span class=\"_ _0\"></span> hosting ser<span class=\"_ _2\"></span>vices; and<span class=\"_ _0\"></span> clearing, sett<span class=\"_ _2\"></span>lement<span class=\"_ _314\"> </span> and other post trade services.<span class=\"_ _314\"> </span>We hav<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>d tha<span class=\"_ _2\"></span>t <span class=\"ff72 ls7b ws7e\">primary market initial admission<span class=\"_ _314\"> </span></span><span class=\"ff72 ls7b ws7e\"> </span>and the<span class=\"_ _0\"></span> ongoing listing services<span class=\"ff71\"> repr<span class=\"_ _0\"></span>esent one<span class=\"_ _314\"> </span></span><span class=\"ff71\"> </span>per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance obligation. The Group ther<span class=\"_ _0\"></span>efore<span class=\"_ _314\"> </span> recognises<span class=\"_ _0\"></span> revenue<span class=\"_ _0\"></span> from initial admission<span class=\"_ _0\"></span> and any<span class=\"_ _314\"> </span> subsequent issues o<span class=\"_ _0\"></span>ver the period that the<span class=\"_ _0\"></span> Group<span class=\"_ _314\"> </span> provides the listing serv<span class=\"_ _2\"></span>ic<span class=\"_ _0\"></span>es. All admission fees<span class=\"_ _0\"></span> are<span class=\"_ _314\"> </span> billed to<span class=\"_ _0\"></span> the customer at<span class=\"_ _0\"></span> the time of admissi<span class=\"_ _0\"></span>on to trading<span class=\"_ _314\"> </span> and become<span class=\"_ _0\"></span> payable when inv<span class=\"_ _0\"></span>oiced. Reve<span class=\"_ _0\"></span>nue from<span class=\"_ _314\"> </span> bond admissions<span class=\"_ _0\"></span> is generally rec<span class=\"_ _0\"></span>ognised at the point<span class=\"_ _0\"></span> of<span class=\"_ _314\"> </span> ad<span class=\"_ _2\"></span>miss<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>, as th<span class=\"_ _2\"></span>is ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice is d<span class=\"_ _2\"></span>eli<span class=\"_ _2\"></span>vere<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e est<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>ted pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>ds for l<span class=\"_ _2\"></span>ist<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>g ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices (ov<span class=\"_ _2\"></span>er wh<span class=\"_ _2\"></span>ich<span class=\"_ _314\"> </span> initial admission and<span class=\"_ _0\"></span> subsequent issuance f<span class=\"_ _0\"></span>ees are<span class=\"_ _314\"> </span> spread) are<span class=\"_ _0\"></span> determined with ref<span class=\"_ _0\"></span>erence to<span class=\"_ _0\"></span> historical<span class=\"_ _314\"> </span> ana<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>sis of l<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g dura<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns in re<span class=\"_ _2\"></span>spe<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>f the co<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>nies o<span class=\"_ _2\"></span>n<span class=\"_ _314\"> </span> our mark<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>s. De<span class=\"_ _0\"></span>ferral periods are<span class=\"_ _0\"></span> calculated by gr<span class=\"_ _0\"></span>ouping<span class=\"_ _314\"> </span> contrac<span class=\"_ _2\"></span>ts based on<span class=\"_ _0\"></span> similar performance obligations.<span class=\"_ _314\"> </span>Primary market annual fees, secondary market<span class=\"_ _314\"> </span> membership and subscription fees<span class=\"_ _0\"></span> <span class=\"ff71 ls6c ws7e\">are generally<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6c ws7e\"> </span>invoiced in<span class=\"_ _0\"></span> advance at the beginning of<span class=\"_ _0\"></span> the member<span class=\"_ _2\"></span>ship<span class=\"_ _314\"> </span> or the subscription period.<span class=\"_ _0\"></span> The Group recognises<span class=\"_ _314\"> </span> reve<span class=\"_ _2\"></span>nue o<span class=\"_ _2\"></span>n a st<span class=\"_ _2\"></span>raig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>lin<span class=\"_ _2\"></span>e bas<span class=\"_ _2\"></span>is over t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d to wh<span class=\"_ _2\"></span>ich<span class=\"_ _314\"> </span> th<span class=\"_ _2\"></span>e fee rel<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>, as t<span class=\"_ _2\"></span>his ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t of the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019s<span class=\"_ _314\"> </span> progress<span class=\"_ _0\"></span> towards comple<span class=\"_ _0\"></span>tion of the performance<span class=\"_ _314\"> </span> obligation under the c<span class=\"_ _0\"></span>ontr<span class=\"_ _2\"></span>act.<span class=\"_ _314\"> </span>Reve<span class=\"_ _2\"></span>nue f<span class=\"_ _2\"></span>rom <span class=\"ff72 ls6c ws7e\">secondary market<span class=\"_ _0\"></span> trading and<span class=\"_ _314\"> </span></span><span class=\"ff72 ls6c ws7e\"> </span>associated capital mark<span class=\"_ _0\"></span>et serv<span class=\"_ _2\"></span>ices<span class=\"ff71 ls76 ws5\">,<span class=\"_ _0\"></span> which includes<span class=\"_ _314\"> </span></span><span class=\"ff71 ls76 ws5\"> </span>trading of fixed i<span class=\"_ _0\"></span>ncome, derivatives and f<span class=\"_ _0\"></span>oreign<span class=\"_ _314\"> </span> exch<span class=\"_ _0\"></span>ange, is r<span class=\"_ _0\"></span>ecognised on a<span class=\"_ _0\"></span> per transact<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span> at t<span class=\"_ _2\"></span>he po<span class=\"_ _2\"></span>int t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice i<span class=\"_ _2\"></span>s prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span>Capital markets soft<span class=\"_ _2\"></span>ware licenc<span class=\"_ _0\"></span>e<span class=\"ff71 lsa4 wsd6\"> cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>ts cont<span class=\"_ _2\"></span>ain<span class=\"_ _314\"> </span></span><span class=\"ff71 lsa4 wsd6\"> </span>multiple deliverable<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> including: providing licences;<span class=\"_ _314\"> </span><span class=\"_ _0\"></span> installing sof<span class=\"_ _2\"></span>tware; and<span class=\"_ _0\"></span> ongoing maintenance serv<span class=\"_ _2\"></span>ices.<span class=\"_ _314\"> </span> Th<span class=\"_ _2\"></span>e tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion p<span class=\"_ _2\"></span>rice fo<span class=\"_ _2\"></span>r eac<span class=\"_ _2\"></span>h cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t is a<span class=\"_ _2\"></span>llo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to<span class=\"_ _314\"> </span> these performance obligations based upon<span class=\"_ _0\"></span> the relative<span class=\"_ _314\"> </span> standalone selling pric<span class=\"_ _0\"></span>e. Rev<span class=\"_ _0\"></span>enue is r<span class=\"_ _0\"></span>ecognised based on<span class=\"_ _314\"> </span> the actual ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span> provided during the reporting period<span class=\"_ _314\"> </span> as a p<span class=\"_ _2\"></span>ropo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e tota<span class=\"_ _2\"></span>l ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices to b<span class=\"_ _2\"></span>e prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span> This is<span class=\"_ _0\"></span> determined by<span class=\"_ _0\"></span> measuring the inputs consumed<span class=\"_ _314\"> </span><span class=\"_ _0\"></span> in d<span class=\"_ _2\"></span>eli<span class=\"_ _2\"></span>veri<span class=\"_ _2\"></span>ng th<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice (fo<span class=\"_ _2\"></span>r exam<span class=\"_ _2\"></span>ple m<span class=\"_ _2\"></span>ater<span class=\"_ _2\"></span>ial an<span class=\"_ _2\"></span>d<span class=\"_ _314\"> </span> lab<span class=\"_ _2\"></span>our<span class=\"_ _2\"></span>) rela<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve to th<span class=\"_ _2\"></span>e tota<span class=\"_ _2\"></span>l expe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>ted in<span class=\"_ _2\"></span>put co<span class=\"_ _2\"></span>nsu<span class=\"_ _2\"></span>mpt<span class=\"_ _2\"></span>ion<span class=\"_ _314\"> </span> ove<span class=\"_ _2\"></span>r the co<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>. This b<span class=\"_ _2\"></span>es<span class=\"_ _2\"></span>t ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s the t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sfe<span class=\"_ _2\"></span>r of<span class=\"_ _314\"> </span> economic benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to the customer which<span class=\"_ _0\"></span> generally<span class=\"_ _314\"> </span> occurs as the Group<span class=\"_ _0\"></span> incurs cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on the contract<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Subscription fees<span class=\"ff71 ls6a ws3\"> for acc<span class=\"_ _2\"></span>ess to t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _314\"> </span></span><span class=\"ff71 ls6a ws3\"> </span>el<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tron<span class=\"_ _2\"></span>ic ma<span class=\"_ _2\"></span>rketp<span class=\"_ _2\"></span>lace<span class=\"_ _2\"></span>s are us<span class=\"_ _2\"></span>uall<span class=\"_ _2\"></span>y cha<span class=\"_ _2\"></span>rge<span class=\"_ _2\"></span>d on a f<span class=\"_ _2\"></span>ixed<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> fee b<span class=\"_ _2\"></span>asis<span class=\"_ _2\"></span>. Reve<span class=\"_ _2\"></span>nue is r<span class=\"_ _2\"></span>ecog<span class=\"_ _2\"></span>nis<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r the p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d th<span class=\"_ _2\"></span>at<span class=\"_ _314\"> </span> acc<span class=\"_ _2\"></span>ess is p<span class=\"_ _2\"></span>rov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d to the c<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>r as it re<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span> Group\u2019<span class=\"_ _0\"></span>s satisfac<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> obligations.<span class=\"_ _314\"> </span> T<span class=\"_ _0\"></span>ransaction and commission f<span class=\"_ _0\"></span>ees are earned<span class=\"_ _0\"></span> from<span class=\"_ _314\"> </span> tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns th<span class=\"_ _2\"></span>at are exe<span class=\"_ _2\"></span>cu<span class=\"_ _2\"></span>ted on t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e elec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>roni<span class=\"_ _2\"></span>c<span class=\"_ _314\"> </span> marketplaces. R<span class=\"_ _0\"></span>evenue is r<span class=\"_ _0\"></span>ecognised on the transaction<span class=\"_ _314\"> </span> date which<span class=\"_ _0\"></span> is when per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> obligations are<span class=\"_ _314\"> </span> de<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>d to have b<span class=\"_ _2\"></span>een s<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>sf<span class=\"_ _2\"></span>ied<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Network connect<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> and hosting ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span><span class=\"ff71 ls4 ws76\"> revenue<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span><span class=\"ff71 ls4 ws76\"> </span>are re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d on a s<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t-l<span class=\"_ _2\"></span>ine b<span class=\"_ _2\"></span>asis o<span class=\"_ _2\"></span>ver th<span class=\"_ _2\"></span>e per<span class=\"_ _2\"></span>iod<span class=\"_ _314\"> </span> to wh<span class=\"_ _2\"></span>ich t<span class=\"_ _2\"></span>he fee re<span class=\"_ _2\"></span>late<span class=\"_ _2\"></span>s as th<span class=\"_ _2\"></span>is ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>uous<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> transfer of t<span class=\"_ _0\"></span>echnolog<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices and me<span class=\"_ _0\"></span>asures the<span class=\"_ _314\"> </span> ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t of pro<span class=\"_ _2\"></span>gres<span class=\"_ _2\"></span>s towa<span class=\"_ _2\"></span>rds t<span class=\"_ _2\"></span>he com<span class=\"_ _2\"></span>plet<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f the<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance obligation<span class=\"_ _314\"> </span><div class=\"t m0 h187 ff72 fs129 fc1 sc0 ls7b wse0 gs165\">Markets<span class=\"ls4 ws3\"> </span></div><div class=\"t m0 h187 ff72 fs129 fc1 sc0 ls6c ws96 gs166\">continued<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff72 fs129 fc1 sc0 ls6d wsd4 gs167\">Over-the-<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ounter (OT<span class=\"_ _0\"></span>C) derivatives, and securities </div><div class=\"t m0 h193 ff72 fs129 fc1 sc0 ls6c ws7e gs168\">clearing and<span class=\"_ _0\"></span> reporting<span class=\"ff71\"> generate fees<span class=\"_ _0\"></span> from: individual </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls89 wsda gs169\">transac<span class=\"_ _2\"></span>tions<span class=\"_ _0\"></span> or contract<span class=\"_ _2\"></span>s clear<span class=\"_ _0\"></span>ed and settled; </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs16a\">transac<span class=\"_ _2\"></span>tion r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting; risk man<span class=\"_ _0\"></span>agement<span class=\"_ _2\"></span>; and<span class=\"_ _0\"></span> other </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs16b\">financial resources<span class=\"_ _0\"></span> management serv<span class=\"_ _2\"></span>ices.<span class=\"_ _0\"></span> These </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6e ws7e gs16c\">revenues<span class=\"_ _0\"></span> are earned at<span class=\"_ _0\"></span> the point in time<span class=\"_ _0\"></span> when the Group </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls89 wsda gs16d\">meets its obligations to c<span class=\"_ _0\"></span>omplete the transaction or </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls89 wsda gs16e\">ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span>. Revenue<span class=\"_ _0\"></span> is recognised<span class=\"_ _0\"></span> and billed monthly in<span class=\"_ _0\"></span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6e ws7e gs16f\">arrears. Cer<span class=\"_ _2\"></span>tain<span class=\"_ _0\"></span> cus<span class=\"_ _2\"></span>tomers<span class=\"_ _0\"></span> have a fixed-fee arrangement </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs170\">wh<span class=\"_ _2\"></span>ich is n<span class=\"_ _2\"></span>ot lin<span class=\"_ _2\"></span>ked to in<span class=\"_ _2\"></span>div<span class=\"_ _2\"></span>id<span class=\"_ _2\"></span>ual t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ons an<span class=\"_ _2\"></span>d thi<span class=\"_ _2\"></span>s </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs171\">reve<span class=\"_ _2\"></span>nue i<span class=\"_ _2\"></span>s recog<span class=\"_ _2\"></span>nis<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r tim<span class=\"_ _2\"></span>e as th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up ful<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ils i<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls76 ws5 gs172\">obligations to maintain the availability of the clearing </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs173\">sy<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>em to th<span class=\"_ _2\"></span>at cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff72 fs129 fc1 sc0 ls76 ws5 gs174\">Margin management <span class=\"ff71 ls6c ws7e\">generat<span class=\"_ _0\"></span>es fees from<span class=\"_ _0\"></span> providing </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs175\">cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>h acce<span class=\"_ _2\"></span>ss to a re<span class=\"_ _2\"></span>conc<span class=\"_ _2\"></span>ilia<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n pla<span class=\"_ _2\"></span>tfo<span class=\"_ _2\"></span>rm,<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs176\">where count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ties submit trade information<span class=\"_ _0\"></span> for the </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls76 ws5 gs177\">purpose of rec<span class=\"_ _0\"></span>onciling and agreeing initial margin<span class=\"_ _0\"></span> calls, </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls89 wsda gs178\">and to<span class=\"_ _0\"></span> an online<span class=\"_ _0\"></span> messaging application to<span class=\"_ _0\"></span> manage </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls89 wsda gs179\">pledges, receive<span class=\"_ _0\"></span> margin messaging<span class=\"_ _0\"></span> and resolve </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs17a\">di<span class=\"_ _2\"></span>spu<span class=\"_ _2\"></span>tes. Re<span class=\"_ _2\"></span>venu<span class=\"_ _2\"></span>e is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>t a poin<span class=\"_ _2\"></span>t in t<span class=\"_ _2\"></span>ime w<span class=\"_ _2\"></span>hen </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs17b\">th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up mee<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>ts o<span class=\"_ _2\"></span>bli<span class=\"_ _2\"></span>gat<span class=\"_ _2\"></span>ion to d<span class=\"_ _2\"></span>eli<span class=\"_ _2\"></span>ver t<span class=\"_ _2\"></span>he ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice.<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls89 wsda gs17c\">Some customers hav<span class=\"_ _0\"></span>e a subscription<span class=\"_ _0\"></span> and receive<span class=\"_ _0\"></span> </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs17d\">acc<span class=\"_ _2\"></span>ess to t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e plat<span class=\"_ _2\"></span>fo<span class=\"_ _2\"></span>rms ov<span class=\"_ _2\"></span>er a per<span class=\"_ _2\"></span>iod<span class=\"_ _2\"></span>. Fo<span class=\"_ _2\"></span>r the<span class=\"_ _2\"></span>se </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls89 wsda gs17e\">customers, revenue<span class=\"_ _0\"></span> is recognised<span class=\"_ _0\"></span> over the<span class=\"_ _0\"></span> subscription </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs17f\">pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d as it re<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>nuou<span class=\"_ _2\"></span>s tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>fer of se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>e </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs180\">by the Group<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff72 fs129 fc1 sc0 ls6d wsd4 gs181\">Non-<span class=\"_ _2\"></span>cash collateral<span class=\"_ _0\"></span><span class=\"ff71 ls6c ws7e\"> fees are<span class=\"_ _0\"></span> earned from handling </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs182\">non-<span class=\"_ _2\"></span>cash collat<span class=\"_ _0\"></span>eral balances. The<span class=\"_ _0\"></span> fees are<span class=\"_ _0\"></span> recognised </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs183\">as rev<span class=\"_ _0\"></span>enue over the<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vice period that<span class=\"_ _0\"></span> balances are </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6c ws7e gs184\">held, representing<span class=\"_ _0\"></span> the continuous transfer of services </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls76 ws5 gs185\">during that time.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs186\">Fe<span class=\"_ _2\"></span>es rec<span class=\"_ _2\"></span>eive<span class=\"_ _2\"></span>d for t<span class=\"_ _2\"></span>hird<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y con<span class=\"_ _2\"></span>tent o<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices<span class=\"_ _2\"></span>, suc<span class=\"_ _2\"></span>h </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs187\">as s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle<span class=\"_ _2\"></span>ment f<span class=\"_ _2\"></span>ees<span class=\"_ _2\"></span>, are rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed n<span class=\"_ _2\"></span>et wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n reven<span class=\"_ _2\"></span>ue </div><div class=\"t m0 h193 ff71 fs129 fc1 sc0 ls6a ws3 gs188\">on t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te of th<span class=\"_ _2\"></span>e tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs189\">Those customer contract<span class=\"_ _2\"></span>s across<span class=\"_ _0\"></span> the Group that contain a s<span class=\"_ _0\"></span>ingle </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs18a\">pe<span class=\"_ _2\"></span>rfo<span class=\"_ _2\"></span>rma<span class=\"_ _2\"></span>nce obl<span class=\"_ _2\"></span>igat<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>t a fi<span class=\"_ _2\"></span>xed pr<span class=\"_ _2\"></span>ice do n<span class=\"_ _2\"></span>ot requ<span class=\"_ _2\"></span>ire va<span class=\"_ _2\"></span>riab<span class=\"_ _2\"></span>le </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs18b\">consideration to be<span class=\"_ _0\"></span> calculated. However<span class=\"_ _0\"></span>, some businesses<span class=\"_ _0\"></span> in </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs18c\">th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p prov<span class=\"_ _2\"></span>ide s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>es to cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>ers u<span class=\"_ _2\"></span>nder a t<span class=\"_ _2\"></span>iere<span class=\"_ _2\"></span>d or ta<span class=\"_ _2\"></span>rif<span class=\"_ _2\"></span>f </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs18d\">pricing struc<span class=\"_ _2\"></span>ture that generat<span class=\"_ _0\"></span>es a degree of<span class=\"_ _0\"></span> variabilit<span class=\"_ _2\"></span>y in the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws66 gs18e\">reve<span class=\"_ _2\"></span>nue s<span class=\"_ _2\"></span>trea<span class=\"_ _2\"></span>ms fro<span class=\"_ _2\"></span>m the co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t as a res<span class=\"_ _2\"></span>ult of a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal ch<span class=\"_ _2\"></span>arge<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs18f\">or di<span class=\"_ _2\"></span>scou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s give<span class=\"_ _2\"></span>n. W<span class=\"_ _2\"></span>here t<span class=\"_ _2\"></span>he fu<span class=\"_ _2\"></span>ture rev<span class=\"_ _2\"></span>enue f<span class=\"_ _2\"></span>rom a con<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>act<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs190\">va<span class=\"_ _2\"></span>ries d<span class=\"_ _2\"></span>ue to fac<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span>rs t<span class=\"_ _2\"></span>hat are o<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>side t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s con<span class=\"_ _2\"></span>trol<span class=\"_ _2\"></span>, the<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs191\">Group limits the total transac<span class=\"_ _2\"></span>tion price<span class=\"_ _0\"></span> at contrac<span class=\"_ _2\"></span>t i<span class=\"_ _0\"></span>nception and </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs192\">recognises the minimum<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> revenue guaranteed by<span class=\"_ _0\"></span> the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs193\">ter<span class=\"_ _2\"></span>ms of t<span class=\"_ _2\"></span>he cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct ov<span class=\"_ _2\"></span>er the c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t pe<span class=\"_ _2\"></span>riod<span class=\"_ _2\"></span>. Any v<span class=\"_ _2\"></span>ari<span class=\"_ _2\"></span>able<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs194\">element is subsequently recognised in<span class=\"_ _0\"></span> the period in which the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs195\">va<span class=\"_ _2\"></span>riab<span class=\"_ _2\"></span>le con<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>ion is s<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>sf<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>d and t<span class=\"_ _2\"></span>here is n<span class=\"_ _2\"></span>o sign<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>nt ris<span class=\"_ _2\"></span>k of </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs196\">reve<span class=\"_ _2\"></span>rsa<span class=\"_ _2\"></span>l of tha<span class=\"_ _2\"></span>t revenu<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs197\">Rebates<span class=\"_ _0\"></span> given to customers as part of an operating agreement ar<span class=\"_ _0\"></span>e </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs198\">ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated on a p<span class=\"_ _2\"></span>ro<span class=\"_ _2\"></span>-r<span class=\"_ _2\"></span>ata b<span class=\"_ _2\"></span>asis o<span class=\"_ _2\"></span>n revenu<span class=\"_ _2\"></span>e earn<span class=\"_ _2\"></span>ed an<span class=\"_ _2\"></span>d recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs199\">as t<span class=\"_ _2\"></span>hey fa<span class=\"_ _2\"></span>ll due<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs19a\">The Group does no<span class=\"_ _0\"></span>t have any<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts where the period </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs19b\">between the trans<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span> of ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> to a customer and<span class=\"_ _0\"></span> when the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs19c\">cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>er is ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>o pay for t<span class=\"_ _2\"></span>hat se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice i<span class=\"_ _2\"></span>s lon<span class=\"_ _2\"></span>ger t<span class=\"_ _2\"></span>han on<span class=\"_ _2\"></span>e </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs19d\">yea<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. A<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t, n<span class=\"_ _2\"></span>o adju<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts ar<span class=\"_ _2\"></span>e made to re<span class=\"_ _2\"></span>venu<span class=\"_ _2\"></span>e for any </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs19e\">financing component<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div>The Group\u2019<span class=\"_ _0\"></span>s re<span class=\"_ _0\"></span>venue disaggregated by<span class=\"_ _0\"></span> segment<span class=\"_ _2\"></span>, major<span class=\"_ _0\"></span> produc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> and ser<span class=\"_ _2\"></span>vice line<span class=\"_ _0\"></span> and timing of re<span class=\"_ _0\"></span>venue recognition for the<span class=\"_ _0\"></span> year ended 31 December 2025 is sho<span class=\"_ _2\"></span>wn bel<span class=\"_ _2\"></span>ow:<span class=\"_ _2\"></span> <table class=\"s w29a h22f\" id=\"_8e144462-98f6-41cc-9aad-ec7d92d487d6\"><tr><td></td><td></td><td class=\"t m0 x425 h13 y215f ff72 fs6 fc1 sc0 ls26 ws3\">Dat<span class=\"_ _2\"></span>a &amp; </td><td class=\"t m0 x426 h13 y215f ff72 fs6 fc1 sc0 ls4 ws3\">FTS<span class=\"_ _2\"></span>E </td><td class=\"t m0 x427 h13 y215f ff72 fs6 fc1 sc0 ls4 ws3\">Risk </td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x428 h13 y2160 ff72 fs6 fc1 sc0 lse5 ws125\">Analy<span class=\"_ _2\"></span>tics<span class=\"_ _314\"> </span></td><td class=\"t m0 x429 h13 y2160 ff72 fs6 fc1 sc0 ls41 ws56\">Russell<span class=\"_ _314\"> </span></td><td class=\"c n x4f8 y2161 w29b h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 lse3 ws117\">Intelligence<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f9 y2161 w29c h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls110 ws183\">M<span class=\"_ _2\"></span>ark<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fa y2161 w216 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls12 ws81\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fb y2161 w29d h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 lse0 ws110\">Gro<span class=\"_ _2\"></span>up<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x42e y2162 w218 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x42f y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x430 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x431 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x432 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x433 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x434 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2163 ff72 fs129 fc1 sc0 ls76 ws5\">Revenue<span class=\"_ _0\"></span> from external customers<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2164 w29e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Workf<span class=\"_ _2\"></span>lows<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4fc y2164 w29f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,925<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fd y2164 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fe y2164 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ff y2164 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x500 y2164 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x501 y2164 w29f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,925<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2165 w2a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Dat<span class=\"_ _2\"></span>a &amp; fee<span class=\"_ _2\"></span>ds<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x502 y2165 w2a1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1,<span class=\"_ _2\"></span>822<span class=\"_ _314\"> </span></div></td><td class=\"c n x503 y2165 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x504 y2165 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x505 y2165 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x506 y2165 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x507 y2165 w2a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,822<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2166 w2a3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">Analytics<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x508 y2166 w2a4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">231<span class=\"_ _314\"> </span></div></td><td class=\"c n x509 y2166 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x50a y2166 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x50b y2166 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x50c y2166 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x50d y2166 w2a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">231<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2167 w2a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Recoveries<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x50e y2167 w2a7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsaa wsd6\">360<span class=\"_ _314\"> </span></div></td><td class=\"c n x50f y2167 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x510 y2167 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x511 y2167 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x512 y2167 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x513 y2167 w2a8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsaa wsd6\">360<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2168 w2a9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Subscriptions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x514 y2168 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x515 y2168 w2aa h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">630<span class=\"_ _314\"> </span></div></td><td class=\"c n x516 y2168 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x517 y2168 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x518 y2168 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x519 y2168 w2aa h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">630<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2169 w2ab h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Asset-<span class=\"_ _2\"></span>based<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x51a y2169 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51b y2169 w2ac h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">3<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x51c y2169 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51d y2169 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51e y2169 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51f y2169 w2ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">324<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216a w2ae h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Customer &amp; third-par<span class=\"_ _2\"></span>ty risk solutions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a6 y216a w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a7 y216a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x520 y216a w21d h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">579<span class=\"_ _314\"> </span></div></td><td class=\"c n x521 y216a w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x522 y216a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x523 y216a w21d h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">579<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216b w2af h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Equities<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x524 y216b w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x525 y216b w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x526 y216b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x527 y216b w2b0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa3 wsce\">412<span class=\"_ _314\"> </span></div></td><td class=\"c n x528 y216b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x529 y216b w2b0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa3 wsce\">412<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216c w2b1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Fixed income<span class=\"_ _0\"></span>, derivati<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x52a y216c w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52b y216c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52c y216c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52d y216c w2b2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">1,539<span class=\"_ _314\"> </span></div></td><td class=\"c n x51e y216c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52e y216c w2b3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">1,539<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216d w2b4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsbc wsed\">FX<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x52f y216d w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x530 y216d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x531 y216d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x532 y216d w2b5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6e ws98\">272<span class=\"_ _314\"> </span></div></td><td class=\"c n x533 y216d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x1f1 y216d w2b5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6e ws98\">272<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216e w2b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wscc\">O<span class=\"_ _0\"></span>T<span class=\"_ _0\"></span>C der<span class=\"_ _0\"></span>ivative<span class=\"_ _0\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x534 y216e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x535 y216e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x536 y216e w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x537 y216e w2b7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n x538 y216e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x539 y216e w2b8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216f w2b9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Securities &amp; report<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x51a y216f w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53a y216f w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51c y216f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53b y216f w2ba h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">229<span class=\"_ _314\"> </span></div></td><td class=\"c n x53c y216f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53d y216f w2ba h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">229<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2170 w2bb h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6d wsd4\">Non<span class=\"_ _2\"></span>-cash collateral<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x53e y2170 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53f y2170 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x531 y2170 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x540 y2170 wb1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _2\"></span>17<span class=\"_ _314\"> </span></div></td><td class=\"c n x541 y2170 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x542 y2170 w1b9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">117<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2171 w2bc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x543 y2171 w2bd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">4,338<span class=\"_ _314\"> </span></div></td><td class=\"c n x544 y2171 w21c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">954<span class=\"_ _314\"> </span></div></td><td class=\"c n x545 y2171 w2be h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">579<span class=\"_ _314\"> </span></div></td><td class=\"c n x546 y2171 w2bf h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">3,<span class=\"_ _2\"></span>210<span class=\"_ _314\"> </span></div></td><td class=\"c n x547 y2171 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x548 y2171 w38 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>081<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2172 w2c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Net treasury income<span class=\"_ _314\"> </span></div></td><td class=\"c n x549 y2172 w2c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">3.3<span class=\"_ _314\"> </span></div></td><td class=\"c n x54a y2172 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54b y2172 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54c y2172 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54d y2172 w3b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">257<span class=\"_ _314\"> </span></div></td><td class=\"c n x475 y2172 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54e y2172 w2c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">2<span class=\"_ _2\"></span>57<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2173 w2c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Other income<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x54f y2173 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x550 y2173 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x551 y2173 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x552 y2173 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x457 y2173 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x553 y2173 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2174 w40 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x447 y2174 w21b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">4,338<span class=\"_ _314\"> </span></div></td><td class=\"c n x448 y2174 w21c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">954<span class=\"_ _314\"> </span></div></td><td class=\"c n x449 y2174 w1ed h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">57<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td><td class=\"c n x44a y2174 w21f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">3,467<span class=\"_ _314\"> </span></div></td><td class=\"c n x44b y2174 w3e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x44c y2174 w41 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>346<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2175 ff72 fs129 fc1 sc0 ls6d wsd4\">Timing of re<span class=\"_ _0\"></span>venue recognition<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2176 w2c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed at a p<span class=\"_ _2\"></span>oint i<span class=\"_ _2\"></span>n tim<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x554 y2176 w2c5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls78 wse4\">74<span class=\"_ _314\"> </span></div></td><td class=\"c n x555 y2176 w55 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x556 y2176 w1d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">128<span class=\"_ _314\"> </span></div></td><td class=\"c n x557 y2176 w2c6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws0\">2,06<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x558 y2176 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x559 y2176 w2c7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">2<span class=\"_ _2\"></span>,263<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w2c8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r tim<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x55a y20da w2c9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">4<span class=\"_ _2\"></span>,264<span class=\"_ _314\"> </span></div></td><td class=\"c n x515 y20da w230 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">953<span class=\"_ _314\"> </span></div></td><td class=\"c n x55b y20da w2ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb5 wse3\">4<span class=\"_ _2\"></span>51<span class=\"_ _314\"> </span></div></td><td class=\"c n x55c y20da w2cb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>50<span class=\"_ _314\"> </span></div></td><td class=\"c n x55d y20da w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x1ee y20da w232 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsac wsd7\">6,818<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w2bc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x543 y2069 w2bd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">4,338<span class=\"_ _314\"> </span></div></td><td class=\"c n x544 y2069 w21c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">954<span class=\"_ _314\"> </span></div></td><td class=\"c n x545 y2069 w2be h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">579<span class=\"_ _314\"> </span></div></td><td class=\"c n x546 y2069 w2bf h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">3,<span class=\"_ _2\"></span>210<span class=\"_ _314\"> </span></div></td><td class=\"c n x547 y2069 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x548 y2069 w38 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>081<span class=\"_ _314\"> </span></div></td></tr></table>The Group\u2019<span class=\"_ _0\"></span>s re-presented revenue<span class=\"_ _0\"></span> disaggregated by segment, major pr<span class=\"_ _0\"></span>oduc<span class=\"_ _2\"></span>t and service line and timing o<span class=\"_ _0\"></span>f revenue<span class=\"_ _0\"></span> recognition for the year<span class=\"_ _0\"></span> ended 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2024 is show<span class=\"_ _2\"></span>n bel<span class=\"_ _2\"></span>ow:<span class=\"_ _2\"></span> <table class=\"s w2cc h230\" id=\"_5896af01-a3b6-4824-8b4d-9655d97b457a\"><tr><td></td><td></td><td class=\"t m0 x2cc hb y2177 ff71 fs6 fc1 sc0 ls26 ws3\">Dat<span class=\"_ _2\"></span>a &amp; </td><td class=\"t m0 x426 hb y2177 ff71 fs6 fc1 sc0 ls4 ws3\">FT<span class=\"_ _2\"></span>SE </td><td class=\"t m0 x427 hb y2177 ff71 fs6 fc1 sc0 lse5 ws125\">Risk </td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x428 hb y2178 ff71 fs6 fc1 sc0 lsf1 ws5e\">Analytics<span class=\"_ _314\"> </span></td><td class=\"t m0 x55e hb y2178 ff71 fs6 fc1 sc0 ls27 ws45\">Russell<span class=\"_ _314\"> </span></td><td class=\"c n x55f y2179 w240 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls27 ws45\">Intelligence<span class=\"_ _314\"> </span></div></td><td class=\"c n x560 y2179 w241 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls8d ws184\">M<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>kets<span class=\"_ _314\"> </span></div></td><td class=\"c n x561 y2179 w242 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls27 ws45\">Ot<span class=\"_ _2\"></span>her<span class=\"_ _314\"> </span></div></td><td class=\"c n x562 y2179 w243 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls4 ws3\">Group<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x42e y217a w218 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x563 y217a w244 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x564 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x565 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x566 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x567 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x568 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y217b ff72 fs129 fc1 sc0 ls76 ws5\">Revenue<span class=\"_ _0\"></span> from external customers<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y217c w29e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Workf<span class=\"_ _2\"></span>lows<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x569 y217c w2cd h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">1,899<span class=\"_ _314\"> </span></div></td><td class=\"c n x56a y217c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x56b y217c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x56c y217c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x56d y217c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x56e y217c w2ce h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">1,<span class=\"_ _2\"></span>899<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y217d w2a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Dat<span class=\"_ _2\"></span>a &amp; fee<span class=\"_ _2\"></span>ds<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x56f y217d w2cf h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>74<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y217d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y217d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y217d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x445 y217d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x570 y217d w2cf h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>74<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y217e w2a3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">Analytics<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x571 y217e w2d0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">220<span class=\"_ _314\"> </span></div></td><td class=\"c n x460 y217e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x461 y217e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x462 y217e w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x572 y217e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x573 y217e w192 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">220<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y217f w2a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Recoveries<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x574 y217f wcc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">364<span class=\"_ _314\"> </span></div></td><td class=\"c n x575 y217f w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x576 y217f w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x577 y217f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x578 y217f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x579 y217f wcc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">364<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2180 w2a9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Subscriptions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x514 y2180 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x57a y2180 w2d1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">6<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td><td class=\"c n x57b y2180 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x57c y2180 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x489 y2180 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x292 y2180 w2d1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">6<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2181 w2ab h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Asset-<span class=\"_ _2\"></span>based<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x51a y2181 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51b y2181 w2d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">308<span class=\"_ _314\"> </span></div></td><td class=\"c n x57d y2181 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x57e y2181 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x57f y2181 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x580 y2181 w2d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">308<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2182 w2ae h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Customer &amp; third-par<span class=\"_ _2\"></span>ty risk solutions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a6 y2182 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a7 y2182 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x581 y2182 w24d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">531<span class=\"_ _314\"> </span></div></td><td class=\"c n x582 y2182 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x583 y2182 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x584 y2182 w24d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">531<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2183 w2af h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Equities<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x524 y2183 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x525 y2183 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x526 y2183 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x585 y2183 w2d3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa2 wscd\">3<span class=\"_ _2\"></span>92<span class=\"_ _314\"> </span></div></td><td class=\"c n x451 y2183 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x586 y2183 w185 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa2 wscd\">392<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2184 w2b1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Fixed income<span class=\"_ _0\"></span>, derivati<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x52a y2184 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52b y2184 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52c y2184 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x587 y2184 w2d4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">1,334<span class=\"_ _314\"> </span></div></td><td class=\"c n x547 y2184 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x588 y2184 w2d4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">1,334<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2185 w2b4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsbc wsed\">FX<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x52f y2185 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x530 y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x531 y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x589 y2185 w2d5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">260<span class=\"_ _314\"> </span></div></td><td class=\"c n x58a y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x58b y2185 w2d5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">260<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2186 w2b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wscc\">O<span class=\"_ _0\"></span>T<span class=\"_ _0\"></span>C der<span class=\"_ _0\"></span>ivative<span class=\"_ _0\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x534 y2186 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x535 y2186 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x536 y2186 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x58c y2186 w2d6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsad wsdc\">5<span class=\"_ _2\"></span>82<span class=\"_ _314\"> </span></div></td><td class=\"c n x58d y2186 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x58e y2186 w2d7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsad wsdc\">582<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w2b9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Securities &amp; report<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x51a y2187 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53a y2187 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51c y2187 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x58f y2187 w2d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">235<span class=\"_ _314\"> </span></div></td><td class=\"c n x590 y2187 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x591 y2187 wec h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">23<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2188 w2bb h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6d wsd4\">Non<span class=\"_ _2\"></span>-cash collateral<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x53e y2188 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53f y2188 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x531 y2188 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x592 y2188 w2d9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">111<span class=\"_ _314\"> </span></div></td><td class=\"c n x593 y2188 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x594 y2188 w2da h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">111<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2189 w2db h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e</div><div class=\"t m0 x595 h195 y2143 ff72 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a0 y218a w246 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">4,<span class=\"_ _2\"></span>223<span class=\"_ _314\"> </span></div></td><td class=\"c n x596 y218a w24c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">911<span class=\"_ _314\"> </span></div></td><td class=\"c n x597 y218a w248 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">53<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x598 y218a w2dc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>914<span class=\"_ _314\"> </span></div></td><td class=\"c n x599 y218a w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59a y218a w2dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">8,579<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218b w2c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Net treasury income<span class=\"_ _314\"> </span></div></td><td class=\"c n x549 y218b w2c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">3.3<span class=\"_ _314\"> </span></div></td><td class=\"c n x54a y218b w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54b y218b w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54c y218b w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59b y218b w24a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">26<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x45d y218b w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59c y218b wb2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">266<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218c w2c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Other income<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x54f y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x550 y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x551 y218c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x552 y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59d y218c wc3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x59e y218c wc3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218d w40 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x48c y218d w24b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">4,223<span class=\"_ _314\"> </span></div></td><td class=\"c n x48d y218d w24c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">911<span class=\"_ _314\"> </span></div></td><td class=\"c n x48e y218d w24d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">531<span class=\"_ _314\"> </span></div></td><td class=\"c n x48f y218d w24e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">3<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x490 y218d wc3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x491 y218d w24f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">8<span class=\"_ _2\"></span>,858<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y218e ff72 fs129 fc1 sc0 ls6d wsd4\">Timing of re<span class=\"_ _0\"></span>venue recognition<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y20d9 w2c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed at a p<span class=\"_ _2\"></span>oint i<span class=\"_ _2\"></span>n tim<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x554 y20d9 w2de h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">75<span class=\"_ _314\"> </span></div></td><td class=\"c n x59f y20d9 w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a0 y20d9 w2e0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a1 y20d9 w2e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">1<span class=\"_ _2\"></span>,826<span class=\"_ _314\"> </span></div></td><td class=\"c n x522 y20d9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a2 y20d9 w2e2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls82 wsaf\">2<span class=\"_ _2\"></span>,023<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w2c8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r tim<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5a3 y20da w265 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">4<span class=\"_ _2\"></span>,14<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a4 y20da w2e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">910<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a5 y20da w2e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws1\">41<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a6 y20da w2e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6f ws99\">1,0<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td><td class=\"c n x590 y20da w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a7 y20da w2e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">6<span class=\"_ _2\"></span>,556<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w2db h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e</div><div class=\"t m0 x595 h195 y210f ff72 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a0 y2110 w246 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">4,<span class=\"_ _2\"></span>223<span class=\"_ _314\"> </span></div></td><td class=\"c n x596 y2110 w24c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">911<span class=\"_ _314\"> </span></div></td><td class=\"c n x597 y2110 w248 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">53<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x598 y2110 w2dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>914<span class=\"_ _314\"> </span></div></td><td class=\"c n x599 y2110 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59a y2110 w2dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa7 wsd3\">8,579<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>ing 2025<span class=\"_ _2\"></span>, in ad<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n to th<span class=\"_ _2\"></span>e new s<span class=\"_ _2\"></span>egm<span class=\"_ _2\"></span>ent p<span class=\"_ _2\"></span>rese<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on, s<span class=\"_ _2\"></span>ome r<span class=\"_ _2\"></span>even<span class=\"_ _2\"></span>ue it<span class=\"_ _2\"></span>ems w<span class=\"_ _2\"></span>ere re<span class=\"_ _2\"></span>allo<span class=\"_ _2\"></span>ca<span class=\"_ _2\"></span>ted be<span class=\"_ _2\"></span>tw<span class=\"_ _2\"></span>een b<span class=\"_ _2\"></span>usi<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>s lin<span class=\"_ _2\"></span>es to b<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>ter ref<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t our p<span class=\"_ _2\"></span>rodu<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>-l<span class=\"_ _2\"></span>ed op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng mo<span class=\"_ _2\"></span>del (c<span class=\"_ _2\"></span>ons<span class=\"_ _2\"></span>ist<span class=\"_ _2\"></span>ent w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g to t<span class=\"_ _2\"></span>he E<span class=\"_ _2\"></span>xecu<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve Co<span class=\"_ _2\"></span>mmi<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>ee). T<span class=\"_ _2\"></span>he im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t on t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>rev<span class=\"_ _2\"></span>iou<span class=\"_ _2\"></span>sly re<span class=\"_ _2\"></span>po<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ed 2024 res<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>s is<span class=\"_ _2\"></span>: <span class=\"_ _22e\"></span>\u2013 <span class=\"lsb\">Reven<span class=\"_ _2\"></span>ue of \u00a3<span class=\"_ _2\"></span>158 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>ove<span class=\"_ _2\"></span>d fro<span class=\"_ _2\"></span>m Dat<span class=\"_ _2\"></span>a &amp; Ana<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>cs t<span class=\"_ _2\"></span>o Mar<span class=\"_ _2\"></span>ket<span class=\"_ _2\"></span>s.</span> <span class=\"_ _22e\"></span>\u2013 <span class=\"lsb\">Reven<span class=\"_ _2\"></span>ue of \u00a3<span class=\"_ _2\"></span>7 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n mov<span class=\"_ _2\"></span>ed fr<span class=\"_ _2\"></span>om F<span class=\"_ _2\"></span>TSE R<span class=\"_ _2\"></span>uss<span class=\"_ _2\"></span>ell to D<span class=\"_ _2\"></span>ata &amp; A<span class=\"_ _2\"></span>na<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>cs<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></span>3.4 Contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span>We repo<span class=\"_ _2\"></span>rt c<span class=\"_ _2\"></span>ontra<span class=\"_ _2\"></span>ct li<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>itie<span class=\"_ _2\"></span>s where a<span class=\"_ _2\"></span>mount<span class=\"_ _2\"></span>s recei<span class=\"_ _2\"></span>ved or re<span class=\"_ _2\"></span>ceiv<span class=\"_ _2\"></span>able<span class=\"_ _314\"> </span>fro<span class=\"_ _2\"></span>m a custom<span class=\"_ _2\"></span>er excee<span class=\"_ _2\"></span>d revenue re<span class=\"_ _2\"></span>cogni<span class=\"_ _2\"></span>sed in t<span class=\"_ _2\"></span>he year, for exa<span class=\"_ _2\"></span>mple<span class=\"_ _314\"> </span>if t<span class=\"_ _2\"></span>he Grou<span class=\"_ _2\"></span>p recei<span class=\"_ _2\"></span>ves an ad<span class=\"_ _2\"></span>vance p<span class=\"_ _2\"></span>ay<span class=\"_ _2\"></span>ment fro<span class=\"_ _2\"></span>m a custom<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>.  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>In some instances, we r<span class=\"_ _0\"></span>eceive consideration, or an amount<span class=\"_ _314\"> </span>of con<span class=\"_ _2\"></span>sid<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>s due, in r<span class=\"_ _2\"></span>elat<span class=\"_ _2\"></span>ion to o<span class=\"_ _2\"></span>ur obl<span class=\"_ _2\"></span>igat<span class=\"_ _2\"></span>ion to t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sfer<span class=\"_ _314\"> </span>go<span class=\"_ _2\"></span>ods or s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ces to a cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer in t<span class=\"_ _2\"></span>he fu<span class=\"_ _2\"></span>ture. R<span class=\"_ _2\"></span>evenu<span class=\"_ _2\"></span>e relat<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span>to these future<span class=\"_ _0\"></span> period<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> is classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> a contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y on the<span class=\"_ _314\"> </span>balance sheet.<span class=\"_ _314\"> </span>Contrac<span class=\"_ _2\"></span>t liabilities are<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tised and recognised<span class=\"_ _0\"></span> as revenue o<span class=\"_ _0\"></span>ver<span class=\"_ _314\"> </span>the period the ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> are rendered.<span class=\"_ _314\"> </span><table class=\"s w339 h23a\" id=\"_34973e80-0845-447a-97e0-d489462fe8d9\"><tr><td></td><td class=\"c n x4e9 y21a9 w31 h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a9 w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21aa w34 h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21aa w35 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w34d h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current contract liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n x604 y213e w100 h21c\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls8 ws5\">72<span class=\"_ _314\"> </span></div></td><td class=\"c n x605 y213e w101 h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w34e h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Current contract liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n x606 y214f web h21c\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6e ws98\">27<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x607 y214f wec h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6e ws98\">290<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34f h21c\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal c<span class=\"_ _0\"></span>ontrac<span class=\"_ _2\"></span>t liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n x608 y2069 w350 h21c\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">3<span class=\"_ _2\"></span>45<span class=\"_ _314\"> </span></div></td><td class=\"c n x609 y2069 w13b h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">358<span class=\"_ _314\"> </span></div></td></tr></table>Movements in contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> during the year are<span class=\"_ _0\"></span> as follows:<span class=\"_ _314\"> </span><table class=\"s w341 h239\" id=\"_c50ade6e-ed8c-44df-95a1-e4864375676b\"><tr><td></td><td class=\"c n x4e9 y21a7 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a7 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21a8 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21a8 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w342 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td class=\"c n x5fa y214b w343 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">358<span class=\"_ _314\"> </span></div></td><td class=\"c n x5fb y214b w344 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6e ws98\">345<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w345 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>s reven<span class=\"_ _2\"></span>ue du<span class=\"_ _2\"></span>ring t<span class=\"_ _2\"></span>he ye<span class=\"_ _2\"></span>ar<span class=\"_ _314\"> </span></div></td><td class=\"c n x5fc y214c w346 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d ws97\">(219)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5fd y214c w347 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7e wsaa\">(<span class=\"_ _2\"></span>253<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w7b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Deferred<span class=\"_ _0\"></span> during the year<span class=\"_ _314\"> </span></div></td><td class=\"c n x5fe y213e w348 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">230<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ff y213e wa8 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">268<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w349 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x600 y2068 w13e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">(24)<span class=\"_ _314\"> </span></div></td><td class=\"c n x601 y2068 w34a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>2)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td class=\"c n x602 y2069 w34c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">345<span class=\"_ _314\"> </span></div></td><td class=\"c n x603 y2069 w13b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">358</div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-522": {
   "value": "3.1 T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al inco<span class=\"_ _2\"></span>me  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>Revenu<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span>The m<span class=\"_ _2\"></span>ain so<span class=\"_ _2\"></span>urce of rev<span class=\"_ _2\"></span>enue fo<span class=\"_ _2\"></span>r the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>s fees fo<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices<span class=\"_ _314\"> </span>provided. Re<span class=\"_ _0\"></span>venue is<span class=\"_ _0\"></span> measured based<span class=\"_ _0\"></span> on the consideration<span class=\"_ _314\"> </span>spe<span class=\"_ _2\"></span>cif<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>d in a con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h a cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. Th<span class=\"_ _2\"></span>e follo<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>g are exclu<span class=\"_ _2\"></span>ded<span class=\"_ _314\"> </span>fro<span class=\"_ _2\"></span>m reven<span class=\"_ _2\"></span>ue:<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">V<span class=\"_ _0\"></span>alue added tax and other sales-related taxes<span class=\"_ _314\"> </span></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Cer<span class=\"_ _2\"></span>tain r<span class=\"_ _0\"></span>evenue share<span class=\"_ _0\"></span> arrangem<span class=\"_ _2\"></span>ents (whereby as<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>t of<span class=\"_ _314\"> </span></span>an agreement amounts are<span class=\"_ _0\"></span> due back to<span class=\"_ _0\"></span> the cus<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>omer)<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Cer<span class=\"_ _2\"></span>tain pass-through cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> where the Group act<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> as an agent<span class=\"_ _314\"> </span></span>and h<span class=\"_ _2\"></span>as ar<span class=\"_ _2\"></span>rang<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nts t<span class=\"_ _2\"></span>o recove<span class=\"_ _2\"></span>r spec<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ic cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s from i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>ers w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h no mar<span class=\"_ _2\"></span>k-u<span class=\"_ _2\"></span>p<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>ecognises revenue as<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices are<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formed and<span class=\"_ _0\"></span> as it<span class=\"_ _314\"> </span>sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>es it<span class=\"_ _2\"></span>s ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns to pro<span class=\"_ _2\"></span>vid<span class=\"_ _2\"></span>e a produ<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice to a cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer.<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s re<span class=\"_ _0\"></span>venue accounting policies ar<span class=\"_ _0\"></span>e set out below:<span class=\"_ _314\"> </span>Dat<span class=\"_ _2\"></span>a &amp;<span class=\"_ _314\"> </span>Analy<span class=\"_ _2\"></span>tics<span class=\"_ _314\"> </span>The Data &amp;<span class=\"_ _0\"></span> Analy<span class=\"_ _2\"></span>tic<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> div<span class=\"_ _2\"></span>ision<span class=\"_ _0\"></span> generates rev<span class=\"_ _0\"></span>enue<span class=\"_ _314\"> </span>by providing inf<span class=\"_ _0\"></span>ormatio<span class=\"_ _2\"></span>n<span class=\"_ _0\"></span> and data product<span class=\"_ _2\"></span>s including<span class=\"_ _314\"> </span>real-time pricing data, trade<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting and<span class=\"_ _314\"> </span>reconciliation serv<span class=\"_ _2\"></span>ices.<span class=\"_ _314\"> </span>Data subscription fees<span class=\"_ _0\"></span> <span class=\"ff71 ls6a ws3\">a<span class=\"_ _2\"></span>re reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r the<span class=\"_ _314\"> </span></span>lic<span class=\"_ _2\"></span>ence o<span class=\"_ _2\"></span>r usa<span class=\"_ _2\"></span>ge pe<span class=\"_ _2\"></span>riod i<span class=\"_ _2\"></span>n lin<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>h th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s<span class=\"_ _314\"> </span>obligation to deliver data<span class=\"_ _0\"></span> consistent<span class=\"_ _2\"></span>ly throughout<span class=\"_ _314\"> </span>the licence<span class=\"_ _0\"></span> period. Ser<span class=\"_ _2\"></span>vices are<span class=\"_ _0\"></span> billed on a<span class=\"_ _0\"></span> monthl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>,<span class=\"_ _314\"> </span>quar<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> or annual basis.<span class=\"_ _314\"> </span>Other information services<span class=\"ff71 ls6c ws7e\"> include licences<span class=\"_ _0\"></span> to the<span class=\"_ _314\"> </span></span>ref<span class=\"_ _0\"></span>erence data businesses.<span class=\"_ _0\"></span> Revenue from<span class=\"_ _0\"></span> licences<span class=\"_ _314\"> </span>th<span class=\"_ _2\"></span>at gr<span class=\"_ _2\"></span>ant t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>ght to a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s intel<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>tu<span class=\"_ _2\"></span>al pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y are<span class=\"_ _314\"> </span>rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>ver ti<span class=\"_ _2\"></span>me, co<span class=\"_ _2\"></span>nsis<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t wi<span class=\"_ _2\"></span>th th<span class=\"_ _2\"></span>e pat<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>rn of t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span>ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span> provision and how<span class=\"_ _0\"></span> the per<span class=\"_ _2\"></span>formanc<span class=\"_ _0\"></span>e obligation<span class=\"_ _314\"> </span>is satisf<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> throughout the licence period. R<span class=\"_ _0\"></span>evenues<span class=\"_ _314\"> </span>fro<span class=\"_ _2\"></span>m th<span class=\"_ _2\"></span>e sale o<span class=\"_ _2\"></span>f rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span>-us<span class=\"_ _2\"></span>e lice<span class=\"_ _2\"></span>nces a<span class=\"_ _2\"></span>re reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at<span class=\"_ _314\"> </span>th<span class=\"_ _2\"></span>e poi<span class=\"_ _2\"></span>nt th<span class=\"_ _2\"></span>e lice<span class=\"_ _2\"></span>nce is g<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>ted or s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ce is de<span class=\"_ _2\"></span>live<span class=\"_ _2\"></span>red<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Recover<span class=\"_ _2\"></span>ies<span class=\"ff71 ls89 wsda\"> consist of<span class=\"_ _0\"></span> fees f<span class=\"_ _0\"></span>or content, such<span class=\"_ _0\"></span> as<span class=\"_ _314\"> </span></span>exch<span class=\"_ _2\"></span>ange d<span class=\"_ _2\"></span>ata t<span class=\"_ _2\"></span>hat i<span class=\"_ _2\"></span>s dis<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ibu<span class=\"_ _2\"></span>ted di<span class=\"_ _2\"></span>rec<span class=\"_ _2\"></span>tl<span class=\"_ _2\"></span>y to cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>s,<span class=\"_ _314\"> </span>and communications f<span class=\"_ _0\"></span>ees. Recoveries<span class=\"_ _0\"></span> are generally<span class=\"_ _314\"> </span>rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>ver th<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct te<span class=\"_ _2\"></span>rm.<span class=\"_ _314\"> </span>FTSE Russell <span class=\"ff71 ls6a ws3\">Rev<span class=\"_ _2\"></span>enue i<span class=\"_ _2\"></span>n the F<span class=\"_ _2\"></span>TS<span class=\"_ _2\"></span>E Rus<span class=\"_ _2\"></span>sel<span class=\"_ _2\"></span>l div<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>on is ge<span class=\"_ _2\"></span>ner<span class=\"_ _2\"></span>ated<span class=\"_ _314\"> </span></span>by pr<span class=\"_ _2\"></span>ovi<span class=\"_ _2\"></span>ding a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s to dat<span class=\"_ _2\"></span>a prod<span class=\"_ _2\"></span>uc<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>, suc<span class=\"_ _2\"></span>h as in<span class=\"_ _2\"></span>dexes<span class=\"_ _314\"> </span>and benchmarks.<span class=\"_ _314\"> </span>Index and data<span class=\"_ _0\"></span> benchmark licence f<span class=\"_ _0\"></span>ees<span class=\"ff71 lsa8 wse8\"> are r<span class=\"_ _0\"></span>ecognised<span class=\"_ _314\"> </span></span>ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>icen<span class=\"_ _2\"></span>ce or us<span class=\"_ _2\"></span>age p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d in li<span class=\"_ _2\"></span>ne wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s<span class=\"_ _314\"> </span>obligation to deliver<span class=\"_ _0\"></span> data consistently throughout the<span class=\"_ _314\"> </span>licence<span class=\"_ _0\"></span> period. Ser<span class=\"_ _2\"></span>vices are<span class=\"_ _0\"></span> billed on a<span class=\"_ _0\"></span> mont<span class=\"_ _2\"></span>hly<span class=\"_ _0\"></span>,<span class=\"_ _314\"> </span>quar<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> or annual basis.<span class=\"_ _314\"> </span>Risk<span class=\"_ _314\"> </span>Intelligence<span class=\"_ _314\"> </span>Revenue<span class=\"_ _0\"></span> in the Risk Int<span class=\"_ _0\"></span>elligence division includes<span class=\"_ _314\"> </span>third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y risk<span class=\"_ _0\"></span> screening and due<span class=\"_ _0\"></span> diligence serv<span class=\"_ _2\"></span>ices.<span class=\"_ _314\"> </span>Various<span class=\"_ _0\"></span> <span class=\"ff72 ws7e\">brokerage<span class=\"_ _0\"></span> processing, risk<span class=\"_ _0\"></span> solutions and<span class=\"_ _314\"> </span></span>professional services<span class=\"ff71 lsb0 ws7e\">, which are<span class=\"_ _0\"></span> generally billed in arrears,<span class=\"_ _314\"> </span></span>are re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as reve<span class=\"_ _2\"></span>nue a<span class=\"_ _2\"></span>t the p<span class=\"_ _2\"></span>oin<span class=\"_ _2\"></span>t in ti<span class=\"_ _2\"></span>me wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span>Group meets its obligation t<span class=\"_ _0\"></span>o complete<span class=\"_ _0\"></span> the transac<span class=\"_ _2\"></span>tion<span class=\"_ _314\"> </span>or s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>e. Sub<span class=\"_ _2\"></span>scr<span class=\"_ _2\"></span>ipt<span class=\"_ _2\"></span>ion fee<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t prov<span class=\"_ _2\"></span>ide a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s to th<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span>Group\u2019<span class=\"_ _0\"></span>s risk-screening<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices on<span class=\"_ _0\"></span> a continuous basis<span class=\"_ _314\"> </span>ove<span class=\"_ _2\"></span>r the s<span class=\"_ _2\"></span>ubsc<span class=\"_ _2\"></span>rip<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n per<span class=\"_ _2\"></span>iod<span class=\"_ _2\"></span>, are reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed ov<span class=\"_ _2\"></span>er ti<span class=\"_ _2\"></span>me,<span class=\"_ _314\"> </span>as the Group<span class=\"_ _0\"></span> satis<span class=\"_ _2\"></span>fies the performance obligation.<span class=\"_ _314\"> </span>Markets<span class=\"_ _131\"> </span><span class=\"ff71 ls6a ws3\">R<span class=\"_ _2\"></span>evenu<span class=\"_ _2\"></span>e in th<span class=\"_ _2\"></span>e Mar<span class=\"_ _2\"></span>ket<span class=\"_ _2\"></span>s div<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>on is g<span class=\"_ _2\"></span>ener<span class=\"_ _2\"></span>ated f<span class=\"_ _2\"></span>rom:<span class=\"_ _314\"> </span></span>primar<span class=\"_ _2\"></span>y and<span class=\"_ _0\"></span> secondar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> market services; contract<span class=\"_ _2\"></span>s to<span class=\"_ _314\"> </span>develop<span class=\"_ _0\"></span> capit<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> market<span class=\"_ _0\"></span> technology solutions; soft<span class=\"_ _2\"></span>ware<span class=\"_ _314\"> </span>licences;<span class=\"_ _0\"></span> transac<span class=\"_ _2\"></span>tion and c<span class=\"_ _0\"></span>ommission fees; network<span class=\"_ _314\"> </span>connection<span class=\"_ _2\"></span>s;<span class=\"_ _0\"></span> hosting ser<span class=\"_ _2\"></span>vices; and<span class=\"_ _0\"></span> clearing, sett<span class=\"_ _2\"></span>lement<span class=\"_ _314\"> </span>and other post trade services.<span class=\"_ _314\"> </span>We hav<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>d tha<span class=\"_ _2\"></span>t <span class=\"ff72 ls7b ws7e\">primary market initial admission<span class=\"_ _314\"> </span></span>and the<span class=\"_ _0\"></span> ongoing listing services<span class=\"ff71\"> repr<span class=\"_ _0\"></span>esent one<span class=\"_ _314\"> </span></span>per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance obligation. The Group ther<span class=\"_ _0\"></span>efore<span class=\"_ _314\"> </span>recognises<span class=\"_ _0\"></span> revenue<span class=\"_ _0\"></span> from initial admission<span class=\"_ _0\"></span> and any<span class=\"_ _314\"> </span>subsequent issues o<span class=\"_ _0\"></span>ver the period that the<span class=\"_ _0\"></span> Group<span class=\"_ _314\"> </span>provides the listing serv<span class=\"_ _2\"></span>ic<span class=\"_ _0\"></span>es. All admission fees<span class=\"_ _0\"></span> are<span class=\"_ _314\"> </span>billed to<span class=\"_ _0\"></span> the customer at<span class=\"_ _0\"></span> the time of admissi<span class=\"_ _0\"></span>on to trading<span class=\"_ _314\"> </span>and become<span class=\"_ _0\"></span> payable when inv<span class=\"_ _0\"></span>oiced. Reve<span class=\"_ _0\"></span>nue from<span class=\"_ _314\"> </span>bond admissions<span class=\"_ _0\"></span> is generally rec<span class=\"_ _0\"></span>ognised at the point<span class=\"_ _0\"></span> of<span class=\"_ _314\"> </span>ad<span class=\"_ _2\"></span>miss<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>, as th<span class=\"_ _2\"></span>is ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice is d<span class=\"_ _2\"></span>eli<span class=\"_ _2\"></span>vere<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e est<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>ted pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>ds for l<span class=\"_ _2\"></span>ist<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>g ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices (ov<span class=\"_ _2\"></span>er wh<span class=\"_ _2\"></span>ich<span class=\"_ _314\"> </span>initial admission and<span class=\"_ _0\"></span> subsequent issuance f<span class=\"_ _0\"></span>ees are<span class=\"_ _314\"> </span>spread) are<span class=\"_ _0\"></span> determined with ref<span class=\"_ _0\"></span>erence to<span class=\"_ _0\"></span> historical<span class=\"_ _314\"> </span>ana<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>sis of l<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g dura<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns in re<span class=\"_ _2\"></span>spe<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>f the co<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>nies o<span class=\"_ _2\"></span>n<span class=\"_ _314\"> </span>our mark<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>s. De<span class=\"_ _0\"></span>ferral periods are<span class=\"_ _0\"></span> calculated by gr<span class=\"_ _0\"></span>ouping<span class=\"_ _314\"> </span>contrac<span class=\"_ _2\"></span>ts based on<span class=\"_ _0\"></span> similar performance obligations.<span class=\"_ _314\"> </span>Primary market annual fees, secondary market<span class=\"_ _314\"> </span>membership and subscription fees<span class=\"_ _0\"></span> <span class=\"ff71 ls6c ws7e\">are generally<span class=\"_ _314\"> </span></span>invoiced in<span class=\"_ _0\"></span> advance at the beginning of<span class=\"_ _0\"></span> the member<span class=\"_ _2\"></span>ship<span class=\"_ _314\"> </span>or the subscription period.<span class=\"_ _0\"></span> The Group recognises<span class=\"_ _314\"> </span>reve<span class=\"_ _2\"></span>nue o<span class=\"_ _2\"></span>n a st<span class=\"_ _2\"></span>raig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>lin<span class=\"_ _2\"></span>e bas<span class=\"_ _2\"></span>is over t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d to wh<span class=\"_ _2\"></span>ich<span class=\"_ _314\"> </span>th<span class=\"_ _2\"></span>e fee rel<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>, as t<span class=\"_ _2\"></span>his ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t of the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019s<span class=\"_ _314\"> </span>progress<span class=\"_ _0\"></span> towards comple<span class=\"_ _0\"></span>tion of the performance<span class=\"_ _314\"> </span>obligation under the c<span class=\"_ _0\"></span>ontr<span class=\"_ _2\"></span>act.<span class=\"_ _314\"> </span>Reve<span class=\"_ _2\"></span>nue f<span class=\"_ _2\"></span>rom <span class=\"ff72 ls6c ws7e\">secondary market<span class=\"_ _0\"></span> trading and<span class=\"_ _314\"> </span></span>associated capital mark<span class=\"_ _0\"></span>et serv<span class=\"_ _2\"></span>ices<span class=\"ff71 ls76 ws5\">,<span class=\"_ _0\"></span> which includes<span class=\"_ _314\"> </span></span>trading of fixed i<span class=\"_ _0\"></span>ncome, derivatives and f<span class=\"_ _0\"></span>oreign<span class=\"_ _314\"> </span>exch<span class=\"_ _0\"></span>ange, is r<span class=\"_ _0\"></span>ecognised on a<span class=\"_ _0\"></span> per transact<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span>at t<span class=\"_ _2\"></span>he po<span class=\"_ _2\"></span>int t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice i<span class=\"_ _2\"></span>s prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span>Capital markets soft<span class=\"_ _2\"></span>ware licenc<span class=\"_ _0\"></span>e<span class=\"ff71 lsa4 wsd6\"> cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>ts cont<span class=\"_ _2\"></span>ain<span class=\"_ _314\"> </span></span>multiple deliverable<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> including: providing licences;<span class=\"_ _314\"> </span>installing sof<span class=\"_ _2\"></span>tware; and<span class=\"_ _0\"></span> ongoing maintenance serv<span class=\"_ _2\"></span>ices.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion p<span class=\"_ _2\"></span>rice fo<span class=\"_ _2\"></span>r eac<span class=\"_ _2\"></span>h cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t is a<span class=\"_ _2\"></span>llo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to<span class=\"_ _314\"> </span>these performance obligations based upon<span class=\"_ _0\"></span> the relative<span class=\"_ _314\"> </span>standalone selling pric<span class=\"_ _0\"></span>e. Rev<span class=\"_ _0\"></span>enue is r<span class=\"_ _0\"></span>ecognised based on<span class=\"_ _314\"> </span>the actual ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span> provided during the reporting period<span class=\"_ _314\"> </span>as a p<span class=\"_ _2\"></span>ropo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e tota<span class=\"_ _2\"></span>l ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices to b<span class=\"_ _2\"></span>e prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span>This is<span class=\"_ _0\"></span> determined by<span class=\"_ _0\"></span> measuring the inputs consumed<span class=\"_ _314\"> </span>in d<span class=\"_ _2\"></span>eli<span class=\"_ _2\"></span>veri<span class=\"_ _2\"></span>ng th<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice (fo<span class=\"_ _2\"></span>r exam<span class=\"_ _2\"></span>ple m<span class=\"_ _2\"></span>ater<span class=\"_ _2\"></span>ial an<span class=\"_ _2\"></span>d<span class=\"_ _314\"> </span>lab<span class=\"_ _2\"></span>our<span class=\"_ _2\"></span>) rela<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve to th<span class=\"_ _2\"></span>e tota<span class=\"_ _2\"></span>l expe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>ted in<span class=\"_ _2\"></span>put co<span class=\"_ _2\"></span>nsu<span class=\"_ _2\"></span>mpt<span class=\"_ _2\"></span>ion<span class=\"_ _314\"> </span>ove<span class=\"_ _2\"></span>r the co<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>. This b<span class=\"_ _2\"></span>es<span class=\"_ _2\"></span>t ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s the t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sfe<span class=\"_ _2\"></span>r of<span class=\"_ _314\"> </span>economic benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to the customer which<span class=\"_ _0\"></span> generally<span class=\"_ _314\"> </span>occurs as the Group<span class=\"_ _0\"></span> incurs cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on the contract<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Subscription fees<span class=\"ff71 ls6a ws3\"> for acc<span class=\"_ _2\"></span>ess to t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _314\"> </span></span>el<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tron<span class=\"_ _2\"></span>ic ma<span class=\"_ _2\"></span>rketp<span class=\"_ _2\"></span>lace<span class=\"_ _2\"></span>s are us<span class=\"_ _2\"></span>uall<span class=\"_ _2\"></span>y cha<span class=\"_ _2\"></span>rge<span class=\"_ _2\"></span>d on a f<span class=\"_ _2\"></span>ixed<span class=\"_ _314\"> </span>fee b<span class=\"_ _2\"></span>asis<span class=\"_ _2\"></span>. Reve<span class=\"_ _2\"></span>nue is r<span class=\"_ _2\"></span>ecog<span class=\"_ _2\"></span>nis<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r the p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d th<span class=\"_ _2\"></span>at<span class=\"_ _314\"> </span>acc<span class=\"_ _2\"></span>ess is p<span class=\"_ _2\"></span>rov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d to the c<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>r as it re<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span>Group\u2019<span class=\"_ _0\"></span>s satisfac<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> obligations.<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>ransaction and commission f<span class=\"_ _0\"></span>ees are earned<span class=\"_ _0\"></span> from<span class=\"_ _314\"> </span>tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns th<span class=\"_ _2\"></span>at are exe<span class=\"_ _2\"></span>cu<span class=\"_ _2\"></span>ted on t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e elec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>roni<span class=\"_ _2\"></span>c<span class=\"_ _314\"> </span>marketplaces. R<span class=\"_ _0\"></span>evenue is r<span class=\"_ _0\"></span>ecognised on the transaction<span class=\"_ _314\"> </span>date which<span class=\"_ _0\"></span> is when per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> obligations are<span class=\"_ _314\"> </span>de<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>d to have b<span class=\"_ _2\"></span>een s<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>sf<span class=\"_ _2\"></span>ied<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Network connect<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> and hosting ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span><span class=\"ff71 ls4 ws76\"> revenue<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span>are re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d on a s<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t-l<span class=\"_ _2\"></span>ine b<span class=\"_ _2\"></span>asis o<span class=\"_ _2\"></span>ver th<span class=\"_ _2\"></span>e per<span class=\"_ _2\"></span>iod<span class=\"_ _314\"> </span>to wh<span class=\"_ _2\"></span>ich t<span class=\"_ _2\"></span>he fee re<span class=\"_ _2\"></span>late<span class=\"_ _2\"></span>s as th<span class=\"_ _2\"></span>is ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>uous<span class=\"_ _314\"> </span>transfer of t<span class=\"_ _0\"></span>echnolog<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices and me<span class=\"_ _0\"></span>asures the<span class=\"_ _314\"> </span>ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t of pro<span class=\"_ _2\"></span>gres<span class=\"_ _2\"></span>s towa<span class=\"_ _2\"></span>rds t<span class=\"_ _2\"></span>he com<span class=\"_ _2\"></span>plet<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f the<span class=\"_ _314\"> </span>per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance obligation<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>3. T<span class=\"_ _3\"></span>otal income and contra<span class=\"_ _2\"></span>ct liabili<span class=\"_ _2\"></span>ties<span class=\"_ _314\"> </span>Ou<span class=\"_ _2\"></span>r total inco<span class=\"_ _2\"></span>me cons<span class=\"_ _2\"></span>ists o<span class=\"_ _2\"></span>f revenue, n<span class=\"_ _2\"></span>et tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y inco<span class=\"_ _2\"></span>me and<span class=\"_ _314\"> </span>ot<span class=\"_ _2\"></span>her inco<span class=\"_ _2\"></span>me, and i<span class=\"_ _2\"></span>s mana<span class=\"_ _2\"></span>ged on a<span class=\"_ _2\"></span>n opera<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g segmen<span class=\"_ _2\"></span>t basis<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>This i<span class=\"_ _2\"></span>s presen<span class=\"_ _2\"></span>ted belo<span class=\"_ _2\"></span>w<span class=\"_ _0\"></span>, as w<span class=\"_ _2\"></span>ell as reve<span class=\"_ _2\"></span>nue by geo<span class=\"_ _2\"></span>grap<span class=\"_ _2\"></span>hic loc<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>n.<span class=\"_ _314\"> </span>Markets<span class=\"ls4 ws3\"> </span>continued<span class=\"_ _314\"> </span>Over-the-<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ounter (OT<span class=\"_ _0\"></span>C) derivatives, and securities clearing and<span class=\"_ _0\"></span> reporting<span class=\"ff71\"> generate fees<span class=\"_ _0\"></span> from: individual </span>transac<span class=\"_ _2\"></span>tions<span class=\"_ _0\"></span> or contract<span class=\"_ _2\"></span>s clear<span class=\"_ _0\"></span>ed and settled; transac<span class=\"_ _2\"></span>tion r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting; risk man<span class=\"_ _0\"></span>agement<span class=\"_ _2\"></span>; and<span class=\"_ _0\"></span> other financial resources<span class=\"_ _0\"></span> management serv<span class=\"_ _2\"></span>ices.<span class=\"_ _0\"></span> These revenues<span class=\"_ _0\"></span> are earned at<span class=\"_ _0\"></span> the point in time<span class=\"_ _0\"></span> when the Group meets its obligations to c<span class=\"_ _0\"></span>omplete the transaction or ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span>. Revenue<span class=\"_ _0\"></span> is recognised<span class=\"_ _0\"></span> and billed monthly in<span class=\"_ _0\"></span> arrears. Cer<span class=\"_ _2\"></span>tain<span class=\"_ _0\"></span> cus<span class=\"_ _2\"></span>tomers<span class=\"_ _0\"></span> have a fixed-fee arrangement wh<span class=\"_ _2\"></span>ich is n<span class=\"_ _2\"></span>ot lin<span class=\"_ _2\"></span>ked to in<span class=\"_ _2\"></span>div<span class=\"_ _2\"></span>id<span class=\"_ _2\"></span>ual t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ons an<span class=\"_ _2\"></span>d thi<span class=\"_ _2\"></span>s reve<span class=\"_ _2\"></span>nue i<span class=\"_ _2\"></span>s recog<span class=\"_ _2\"></span>nis<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r tim<span class=\"_ _2\"></span>e as th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up ful<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ils i<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span> obligations to maintain the availability of the clearing sy<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>em to th<span class=\"_ _2\"></span>at cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer.<span class=\"_ _314\"> </span>Margin management <span class=\"ff71 ls6c ws7e\">generat<span class=\"_ _0\"></span>es fees from<span class=\"_ _0\"></span> providing </span>cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>h acce<span class=\"_ _2\"></span>ss to a re<span class=\"_ _2\"></span>conc<span class=\"_ _2\"></span>ilia<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n pla<span class=\"_ _2\"></span>tfo<span class=\"_ _2\"></span>rm,<span class=\"_ _2\"></span> where count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ties submit trade information<span class=\"_ _0\"></span> for the purpose of rec<span class=\"_ _0\"></span>onciling and agreeing initial margin<span class=\"_ _0\"></span> calls, and to<span class=\"_ _0\"></span> an online<span class=\"_ _0\"></span> messaging application to<span class=\"_ _0\"></span> manage pledges, receive<span class=\"_ _0\"></span> margin messaging<span class=\"_ _0\"></span> and resolve di<span class=\"_ _2\"></span>spu<span class=\"_ _2\"></span>tes. Re<span class=\"_ _2\"></span>venu<span class=\"_ _2\"></span>e is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>t a poin<span class=\"_ _2\"></span>t in t<span class=\"_ _2\"></span>ime w<span class=\"_ _2\"></span>hen th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up mee<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>ts o<span class=\"_ _2\"></span>bli<span class=\"_ _2\"></span>gat<span class=\"_ _2\"></span>ion to d<span class=\"_ _2\"></span>eli<span class=\"_ _2\"></span>ver t<span class=\"_ _2\"></span>he ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice.<span class=\"_ _2\"></span> Some customers hav<span class=\"_ _0\"></span>e a subscription<span class=\"_ _0\"></span> and receive<span class=\"_ _0\"></span> acc<span class=\"_ _2\"></span>ess to t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e plat<span class=\"_ _2\"></span>fo<span class=\"_ _2\"></span>rms ov<span class=\"_ _2\"></span>er a per<span class=\"_ _2\"></span>iod<span class=\"_ _2\"></span>. Fo<span class=\"_ _2\"></span>r the<span class=\"_ _2\"></span>se customers, revenue<span class=\"_ _0\"></span> is recognised<span class=\"_ _0\"></span> over the<span class=\"_ _0\"></span> subscription pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d as it re<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>nuou<span class=\"_ _2\"></span>s tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>fer of se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>e by the Group<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Non-<span class=\"_ _2\"></span>cash collateral<span class=\"_ _0\"></span><span class=\"ff71 ls6c ws7e\"> fees are<span class=\"_ _0\"></span> earned from handling </span>non-<span class=\"_ _2\"></span>cash collat<span class=\"_ _0\"></span>eral balances. The<span class=\"_ _0\"></span> fees are<span class=\"_ _0\"></span> recognised as rev<span class=\"_ _0\"></span>enue over the<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vice period that<span class=\"_ _0\"></span> balances are held, representing<span class=\"_ _0\"></span> the continuous transfer of services during that time.<span class=\"_ _314\"> </span>Fe<span class=\"_ _2\"></span>es rec<span class=\"_ _2\"></span>eive<span class=\"_ _2\"></span>d for t<span class=\"_ _2\"></span>hird<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y con<span class=\"_ _2\"></span>tent o<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices<span class=\"_ _2\"></span>, suc<span class=\"_ _2\"></span>h as s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle<span class=\"_ _2\"></span>ment f<span class=\"_ _2\"></span>ees<span class=\"_ _2\"></span>, are rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed n<span class=\"_ _2\"></span>et wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n reven<span class=\"_ _2\"></span>ue on t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te of th<span class=\"_ _2\"></span>e tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Those customer contract<span class=\"_ _2\"></span>s across<span class=\"_ _0\"></span> the Group that contain a s<span class=\"_ _0\"></span>ingle pe<span class=\"_ _2\"></span>rfo<span class=\"_ _2\"></span>rma<span class=\"_ _2\"></span>nce obl<span class=\"_ _2\"></span>igat<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>t a fi<span class=\"_ _2\"></span>xed pr<span class=\"_ _2\"></span>ice do n<span class=\"_ _2\"></span>ot requ<span class=\"_ _2\"></span>ire va<span class=\"_ _2\"></span>riab<span class=\"_ _2\"></span>le consideration to be<span class=\"_ _0\"></span> calculated. However<span class=\"_ _0\"></span>, some businesses<span class=\"_ _0\"></span> in th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p prov<span class=\"_ _2\"></span>ide s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>es to cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>ers u<span class=\"_ _2\"></span>nder a t<span class=\"_ _2\"></span>iere<span class=\"_ _2\"></span>d or ta<span class=\"_ _2\"></span>rif<span class=\"_ _2\"></span>f pricing struc<span class=\"_ _2\"></span>ture that generat<span class=\"_ _0\"></span>es a degree of<span class=\"_ _0\"></span> variabilit<span class=\"_ _2\"></span>y in the reve<span class=\"_ _2\"></span>nue s<span class=\"_ _2\"></span>trea<span class=\"_ _2\"></span>ms fro<span class=\"_ _2\"></span>m the co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t as a res<span class=\"_ _2\"></span>ult of a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal ch<span class=\"_ _2\"></span>arge<span class=\"_ _2\"></span>s or di<span class=\"_ _2\"></span>scou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s give<span class=\"_ _2\"></span>n. W<span class=\"_ _2\"></span>here t<span class=\"_ _2\"></span>he fu<span class=\"_ _2\"></span>ture rev<span class=\"_ _2\"></span>enue f<span class=\"_ _2\"></span>rom a con<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>act<span class=\"_ _2\"></span> va<span class=\"_ _2\"></span>ries d<span class=\"_ _2\"></span>ue to fac<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span>rs t<span class=\"_ _2\"></span>hat are o<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>side t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s con<span class=\"_ _2\"></span>trol<span class=\"_ _2\"></span>, the<span class=\"_ _2\"></span> Group limits the total transac<span class=\"_ _2\"></span>tion price<span class=\"_ _0\"></span> at contrac<span class=\"_ _2\"></span>t i<span class=\"_ _0\"></span>nception and recognises the minimum<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> revenue guaranteed by<span class=\"_ _0\"></span> the ter<span class=\"_ _2\"></span>ms of t<span class=\"_ _2\"></span>he cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct ov<span class=\"_ _2\"></span>er the c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t pe<span class=\"_ _2\"></span>riod<span class=\"_ _2\"></span>. Any v<span class=\"_ _2\"></span>ari<span class=\"_ _2\"></span>able<span class=\"_ _2\"></span> element is subsequently recognised in<span class=\"_ _0\"></span> the period in which the va<span class=\"_ _2\"></span>riab<span class=\"_ _2\"></span>le con<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>ion is s<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>sf<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>d and t<span class=\"_ _2\"></span>here is n<span class=\"_ _2\"></span>o sign<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>nt ris<span class=\"_ _2\"></span>k of reve<span class=\"_ _2\"></span>rsa<span class=\"_ _2\"></span>l of tha<span class=\"_ _2\"></span>t revenu<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span>Rebates<span class=\"_ _0\"></span> given to customers as part of an operating agreement ar<span class=\"_ _0\"></span>e ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated on a p<span class=\"_ _2\"></span>ro<span class=\"_ _2\"></span>-r<span class=\"_ _2\"></span>ata b<span class=\"_ _2\"></span>asis o<span class=\"_ _2\"></span>n revenu<span class=\"_ _2\"></span>e earn<span class=\"_ _2\"></span>ed an<span class=\"_ _2\"></span>d recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as t<span class=\"_ _2\"></span>hey fa<span class=\"_ _2\"></span>ll due<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The Group does no<span class=\"_ _0\"></span>t have any<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts where the period between the trans<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span> of ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> to a customer and<span class=\"_ _0\"></span> when the cus<span class=\"_ _2\"></span>tom<span class=\"_ _2\"></span>er is ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>o pay for t<span class=\"_ _2\"></span>hat se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice i<span class=\"_ _2\"></span>s lon<span class=\"_ _2\"></span>ger t<span class=\"_ _2\"></span>han on<span class=\"_ _2\"></span>e yea<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. A<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t, n<span class=\"_ _2\"></span>o adju<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts ar<span class=\"_ _2\"></span>e made to re<span class=\"_ _2\"></span>venu<span class=\"_ _2\"></span>e for any financing component<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span><div class=\"t m0 h15 ff73 fs2 fc1 sc0 ls6 ws7 gs1a0\">Net treasury income<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1a1\">Net treasury income is generated<span class=\"_ _0\"></span> from t<span class=\"_ _2\"></span>wo<span class=\"_ _0\"></span> sources. First<span class=\"_ _2\"></span>ly<span class=\"_ _0\"></span>, the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1a2\">CCP businesses securely<span class=\"_ _0\"></span> invest the cash collateral lodged with </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls46 ws7 gs1a3\">them and earn treasury income from<span class=\"_ _0\"></span> various invest<span class=\"_ _2\"></span>ments (including </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1a4\">government debt and<span class=\"_ _0\"></span> reverse repos<span class=\"_ _0\"></span>) and cash deposits wit<span class=\"_ _2\"></span>h </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1a5\">central banks. At the same time,<span class=\"_ _0\"></span> the CCPs pay interest at<span class=\"_ _0\"></span> an </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1a6\">overnight benchmark rate<span class=\"_ _0\"></span> to their members on the c<span class=\"_ _0\"></span>ollateral </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1a7\">pla<span class=\"_ _2\"></span>ced w<span class=\"_ _2\"></span>ith t<span class=\"_ _2\"></span>he bu<span class=\"_ _2\"></span>sine<span class=\"_ _2\"></span>ss, w<span class=\"_ _2\"></span>hil<span class=\"_ _2\"></span>st ch<span class=\"_ _2\"></span>argi<span class=\"_ _2\"></span>ng a spre<span class=\"_ _2\"></span>ad on t<span class=\"_ _2\"></span>hat ra<span class=\"_ _2\"></span>te </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1a8\">as a fe<span class=\"_ _2\"></span>e. This s<span class=\"_ _2\"></span>prea<span class=\"_ _2\"></span>d prov<span class=\"_ _2\"></span>ides t<span class=\"_ _2\"></span>he se<span class=\"_ _2\"></span>cond s<span class=\"_ _2\"></span>ource of i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1a9\">The resulting net<span class=\"_ _0\"></span> treasur<span class=\"_ _2\"></span>y income<span class=\"_ _0\"></span> is recognised within total </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1aa\">income and<span class=\"_ _0\"></span> disclosed separately from rev<span class=\"_ _0\"></span>enue.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff73 fs2 fc1 sc0 ls6 ws7 gs1ab\">Other income<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1ac\">Other income mainly relat<span class=\"_ _0\"></span>es to operating lease income<span class=\"_ _0\"></span> and fees </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1ad\">from serv<span class=\"_ _2\"></span>ice<span class=\"_ _0\"></span> agreement<span class=\"_ _2\"></span>s. Such<span class=\"_ _0\"></span> fees are<span class=\"_ _0\"></span> generated from the </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1ae\">prov<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>on of eve<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s and me<span class=\"_ _2\"></span>dia se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s, wh<span class=\"_ _2\"></span>ich ar<span class=\"_ _2\"></span>e ty<span class=\"_ _2\"></span>pic<span class=\"_ _2\"></span>all<span class=\"_ _2\"></span>y </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1af\">recognised at<span class=\"_ _0\"></span> the point the ser<span class=\"_ _2\"></span>vice is<span class=\"_ _0\"></span> rendered.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff73 fs2 fc1 sc0 ls7 wsa gs1b0\">Cost of sales<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1b1\">Cost of sales comprises:</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs1b2\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Data and lic<span class=\"_ _0\"></span>ence fees;</span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs1b3\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Dat<span class=\"_ _2\"></span>a feed c<span class=\"_ _2\"></span>ost<span class=\"_ _2\"></span>s;</span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs1b4\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws18\">Royalties;</span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs1b5\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Exp<span class=\"_ _2\"></span>enses<span class=\"_ _0\"></span> incurred in respect of pr<span class=\"_ _0\"></span>of<span class=\"_ _2\"></span>it share<span class=\"_ _0\"></span> arrangement<span class=\"_ _2\"></span>s;</span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs1b6\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Cost<span class=\"_ _2\"></span>s dir<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>tly at<span class=\"_ _2\"></span>tributable to the c<span class=\"_ _0\"></span>ons<span class=\"_ _2\"></span>truct<span class=\"_ _2\"></span>ion and<span class=\"_ _0\"></span> deliver<span class=\"_ _2\"></span>y </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1b7\">of go<span class=\"_ _2\"></span>ods o<span class=\"_ _2\"></span>r ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices; a<span class=\"_ _2\"></span>nd</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs1b8\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Any other costs linked and<span class=\"_ _0\"></span> direc<span class=\"_ _2\"></span>tly incurred t<span class=\"_ _0\"></span>o generate </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1b9\">revenues<span class=\"_ _0\"></span> and provide serv<span class=\"_ _2\"></span>ices<span class=\"_ _0\"></span> to customers.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1ba\">Prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t share ex<span class=\"_ _2\"></span>pen<span class=\"_ _2\"></span>ses re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised a<span class=\"_ _2\"></span>s cos<span class=\"_ _2\"></span>t of sal<span class=\"_ _2\"></span>es rela<span class=\"_ _2\"></span>te to </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1bb\">a small<span class=\"_ _0\"></span> number of arrangement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th c<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>tain customers where </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1bc\">th<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment to t<span class=\"_ _2\"></span>he cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer is l<span class=\"_ _2\"></span>inked to t<span class=\"_ _2\"></span>he tot<span class=\"_ _2\"></span>al pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1bd\">par<span class=\"_ _2\"></span>ticular business c<span class=\"_ _0\"></span>oncerned.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1bf\">The Group\u2019<span class=\"_ _0\"></span>s re<span class=\"_ _0\"></span>venue disaggregated by<span class=\"_ _0\"></span> segment<span class=\"_ _2\"></span>, major<span class=\"_ _0\"></span> produc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> and ser<span class=\"_ _2\"></span>vice line<span class=\"_ _0\"></span> and timing of re<span class=\"_ _0\"></span>venue recognition for the<span class=\"_ _0\"></span> year ended 31 December </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1c0\">2025 is sho<span class=\"_ _2\"></span>wn bel<span class=\"_ _2\"></span>ow:<span class=\"_ _2\"></span> </div><div class=\"gs1c1\"><table class=\"s w29a h22f\" id=\"_8e144462-98f6-41cc-9aad-ec7d92d487d6\"><tr><td></td><td></td><td class=\"t m0 x425 h13 y215f ff72 fs6 fc1 sc0 ls26 ws3\">Dat<span class=\"_ _2\"></span>a &amp; </td><td class=\"t m0 x426 h13 y215f ff72 fs6 fc1 sc0 ls4 ws3\">FTS<span class=\"_ _2\"></span>E </td><td class=\"t m0 x427 h13 y215f ff72 fs6 fc1 sc0 ls4 ws3\">Risk </td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x428 h13 y2160 ff72 fs6 fc1 sc0 lse5 ws125\">Analy<span class=\"_ _2\"></span>tics<span class=\"_ _314\"> </span></td><td class=\"t m0 x429 h13 y2160 ff72 fs6 fc1 sc0 ls41 ws56\">Russell<span class=\"_ _314\"> </span></td><td class=\"c n x4f8 y2161 w29b h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 lse3 ws117\">Intelligence<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f9 y2161 w29c h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls110 ws183\">M<span class=\"_ _2\"></span>ark<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fa y2161 w216 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls12 ws81\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fb y2161 w29d h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 lse0 ws110\">Gro<span class=\"_ _2\"></span>up<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x42e y2162 w218 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x42f y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x430 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x431 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x432 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x433 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x434 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2163 ff72 fs129 fc1 sc0 ls76 ws5\">Revenue<span class=\"_ _0\"></span> from external customers<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2164 w29e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Workf<span class=\"_ _2\"></span>lows<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4fc y2164 w29f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,925<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fd y2164 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fe y2164 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ff y2164 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x500 y2164 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x501 y2164 w29f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,925<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2165 w2a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Dat<span class=\"_ _2\"></span>a &amp; fee<span class=\"_ _2\"></span>ds<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x502 y2165 w2a1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1,<span class=\"_ _2\"></span>822<span class=\"_ _314\"> </span></div></td><td class=\"c n x503 y2165 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x504 y2165 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x505 y2165 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x506 y2165 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x507 y2165 w2a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,822<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2166 w2a3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">Analytics<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x508 y2166 w2a4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">231<span class=\"_ _314\"> </span></div></td><td class=\"c n x509 y2166 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x50a y2166 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x50b y2166 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x50c y2166 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x50d y2166 w2a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">231<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2167 w2a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Recoveries<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x50e y2167 w2a7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsaa wsd6\">360<span class=\"_ _314\"> </span></div></td><td class=\"c n x50f y2167 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x510 y2167 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x511 y2167 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x512 y2167 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x513 y2167 w2a8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsaa wsd6\">360<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2168 w2a9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Subscriptions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x514 y2168 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x515 y2168 w2aa h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">630<span class=\"_ _314\"> </span></div></td><td class=\"c n x516 y2168 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x517 y2168 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x518 y2168 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x519 y2168 w2aa h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">630<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2169 w2ab h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Asset-<span class=\"_ _2\"></span>based<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x51a y2169 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51b y2169 w2ac h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">3<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x51c y2169 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51d y2169 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51e y2169 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51f y2169 w2ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">324<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216a w2ae h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Customer &amp; third-par<span class=\"_ _2\"></span>ty risk solutions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a6 y216a w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a7 y216a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x520 y216a w21d h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">579<span class=\"_ _314\"> </span></div></td><td class=\"c n x521 y216a w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x522 y216a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x523 y216a w21d h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">579<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216b w2af h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Equities<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x524 y216b w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x525 y216b w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x526 y216b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x527 y216b w2b0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa3 wsce\">412<span class=\"_ _314\"> </span></div></td><td class=\"c n x528 y216b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x529 y216b w2b0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa3 wsce\">412<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216c w2b1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Fixed income<span class=\"_ _0\"></span>, derivati<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x52a y216c w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52b y216c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52c y216c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52d y216c w2b2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">1,539<span class=\"_ _314\"> </span></div></td><td class=\"c n x51e y216c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52e y216c w2b3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">1,539<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216d w2b4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsbc wsed\">FX<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x52f y216d w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x530 y216d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x531 y216d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x532 y216d w2b5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6e ws98\">272<span class=\"_ _314\"> </span></div></td><td class=\"c n x533 y216d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x1f1 y216d w2b5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6e ws98\">272<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216e w2b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wscc\">O<span class=\"_ _0\"></span>T<span class=\"_ _0\"></span>C der<span class=\"_ _0\"></span>ivative<span class=\"_ _0\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x534 y216e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x535 y216e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x536 y216e w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x537 y216e w2b7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n x538 y216e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x539 y216e w2b8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216f w2b9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Securities &amp; report<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x51a y216f w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53a y216f w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51c y216f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53b y216f w2ba h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">229<span class=\"_ _314\"> </span></div></td><td class=\"c n x53c y216f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53d y216f w2ba h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">229<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2170 w2bb h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6d wsd4\">Non<span class=\"_ _2\"></span>-cash collateral<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x53e y2170 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53f y2170 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x531 y2170 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x540 y2170 wb1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _2\"></span>17<span class=\"_ _314\"> </span></div></td><td class=\"c n x541 y2170 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x542 y2170 w1b9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">117<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2171 w2bc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x543 y2171 w2bd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">4,338<span class=\"_ _314\"> </span></div></td><td class=\"c n x544 y2171 w21c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">954<span class=\"_ _314\"> </span></div></td><td class=\"c n x545 y2171 w2be h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">579<span class=\"_ _314\"> </span></div></td><td class=\"c n x546 y2171 w2bf h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">3,<span class=\"_ _2\"></span>210<span class=\"_ _314\"> </span></div></td><td class=\"c n x547 y2171 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x548 y2171 w38 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>081<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2172 w2c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Net treasury income<span class=\"_ _314\"> </span></div></td><td class=\"c n x549 y2172 w2c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">3.3<span class=\"_ _314\"> </span></div></td><td class=\"c n x54a y2172 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54b y2172 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54c y2172 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54d y2172 w3b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">257<span class=\"_ _314\"> </span></div></td><td class=\"c n x475 y2172 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54e y2172 w2c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">2<span class=\"_ _2\"></span>57<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2173 w2c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Other income<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x54f y2173 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x550 y2173 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x551 y2173 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x552 y2173 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x457 y2173 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x553 y2173 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2174 w40 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x447 y2174 w21b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">4,338<span class=\"_ _314\"> </span></div></td><td class=\"c n x448 y2174 w21c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">954<span class=\"_ _314\"> </span></div></td><td class=\"c n x449 y2174 w1ed h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">57<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td><td class=\"c n x44a y2174 w21f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">3,467<span class=\"_ _314\"> </span></div></td><td class=\"c n x44b y2174 w3e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x44c y2174 w41 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>346<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2175 ff72 fs129 fc1 sc0 ls6d wsd4\">Timing of re<span class=\"_ _0\"></span>venue recognition<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2176 w2c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed at a p<span class=\"_ _2\"></span>oint i<span class=\"_ _2\"></span>n tim<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x554 y2176 w2c5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls78 wse4\">74<span class=\"_ _314\"> </span></div></td><td class=\"c n x555 y2176 w55 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x556 y2176 w1d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">128<span class=\"_ _314\"> </span></div></td><td class=\"c n x557 y2176 w2c6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws0\">2,06<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x558 y2176 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x559 y2176 w2c7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">2<span class=\"_ _2\"></span>,263<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w2c8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r tim<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x55a y20da w2c9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">4<span class=\"_ _2\"></span>,264<span class=\"_ _314\"> </span></div></td><td class=\"c n x515 y20da w230 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">953<span class=\"_ _314\"> </span></div></td><td class=\"c n x55b y20da w2ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb5 wse3\">4<span class=\"_ _2\"></span>51<span class=\"_ _314\"> </span></div></td><td class=\"c n x55c y20da w2cb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>50<span class=\"_ _314\"> </span></div></td><td class=\"c n x55d y20da w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x1ee y20da w232 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsac wsd7\">6,818<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w2bc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x543 y2069 w2bd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">4,338<span class=\"_ _314\"> </span></div></td><td class=\"c n x544 y2069 w21c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">954<span class=\"_ _314\"> </span></div></td><td class=\"c n x545 y2069 w2be h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">579<span class=\"_ _314\"> </span></div></td><td class=\"c n x546 y2069 w2bf h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">3,<span class=\"_ _2\"></span>210<span class=\"_ _314\"> </span></div></td><td class=\"c n x547 y2069 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x548 y2069 w38 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>081<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1c3\">The Group\u2019<span class=\"_ _0\"></span>s re-presented revenue<span class=\"_ _0\"></span> disaggregated by segment, major pr<span class=\"_ _0\"></span>oduc<span class=\"_ _2\"></span>t and service line and timing o<span class=\"_ _0\"></span>f revenue<span class=\"_ _0\"></span> recognition for the year<span class=\"_ _0\"></span> ended </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1c4\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2024 is show<span class=\"_ _2\"></span>n bel<span class=\"_ _2\"></span>ow:<span class=\"_ _2\"></span> </div><div class=\"gs1c5\"><table class=\"s w2cc h230\" id=\"_5896af01-a3b6-4824-8b4d-9655d97b457a\"><tr><td></td><td></td><td class=\"t m0 x2cc hb y2177 ff71 fs6 fc1 sc0 ls26 ws3\">Dat<span class=\"_ _2\"></span>a &amp; </td><td class=\"t m0 x426 hb y2177 ff71 fs6 fc1 sc0 ls4 ws3\">FT<span class=\"_ _2\"></span>SE </td><td class=\"t m0 x427 hb y2177 ff71 fs6 fc1 sc0 lse5 ws125\">Risk </td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x428 hb y2178 ff71 fs6 fc1 sc0 lsf1 ws5e\">Analytics<span class=\"_ _314\"> </span></td><td class=\"t m0 x55e hb y2178 ff71 fs6 fc1 sc0 ls27 ws45\">Russell<span class=\"_ _314\"> </span></td><td class=\"c n x55f y2179 w240 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls27 ws45\">Intelligence<span class=\"_ _314\"> </span></div></td><td class=\"c n x560 y2179 w241 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls8d ws184\">M<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>kets<span class=\"_ _314\"> </span></div></td><td class=\"c n x561 y2179 w242 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls27 ws45\">Ot<span class=\"_ _2\"></span>her<span class=\"_ _314\"> </span></div></td><td class=\"c n x562 y2179 w243 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls4 ws3\">Group<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x42e y217a w218 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x563 y217a w244 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x564 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x565 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x566 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x567 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x568 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y217b ff72 fs129 fc1 sc0 ls76 ws5\">Revenue<span class=\"_ _0\"></span> from external customers<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y217c w29e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Workf<span class=\"_ _2\"></span>lows<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x569 y217c w2cd h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">1,899<span class=\"_ _314\"> </span></div></td><td class=\"c n x56a y217c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x56b y217c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x56c y217c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x56d y217c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x56e y217c w2ce h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">1,<span class=\"_ _2\"></span>899<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y217d w2a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Dat<span class=\"_ _2\"></span>a &amp; fee<span class=\"_ _2\"></span>ds<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x56f y217d w2cf h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>74<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y217d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y217d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y217d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x445 y217d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x570 y217d w2cf h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>74<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y217e w2a3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">Analytics<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x571 y217e w2d0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">220<span class=\"_ _314\"> </span></div></td><td class=\"c n x460 y217e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x461 y217e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x462 y217e w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x572 y217e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x573 y217e w192 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">220<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y217f w2a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Recoveries<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x574 y217f wcc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">364<span class=\"_ _314\"> </span></div></td><td class=\"c n x575 y217f w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x576 y217f w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x577 y217f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x578 y217f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x579 y217f wcc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">364<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2180 w2a9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Subscriptions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x514 y2180 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x57a y2180 w2d1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">6<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td><td class=\"c n x57b y2180 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x57c y2180 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x489 y2180 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x292 y2180 w2d1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">6<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2181 w2ab h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Asset-<span class=\"_ _2\"></span>based<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x51a y2181 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51b y2181 w2d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">308<span class=\"_ _314\"> </span></div></td><td class=\"c n x57d y2181 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x57e y2181 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x57f y2181 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x580 y2181 w2d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">308<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2182 w2ae h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Customer &amp; third-par<span class=\"_ _2\"></span>ty risk solutions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a6 y2182 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a7 y2182 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x581 y2182 w24d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">531<span class=\"_ _314\"> </span></div></td><td class=\"c n x582 y2182 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x583 y2182 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x584 y2182 w24d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">531<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2183 w2af h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Equities<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x524 y2183 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x525 y2183 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x526 y2183 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x585 y2183 w2d3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa2 wscd\">3<span class=\"_ _2\"></span>92<span class=\"_ _314\"> </span></div></td><td class=\"c n x451 y2183 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x586 y2183 w185 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa2 wscd\">392<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2184 w2b1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Fixed income<span class=\"_ _0\"></span>, derivati<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x52a y2184 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52b y2184 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52c y2184 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x587 y2184 w2d4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">1,334<span class=\"_ _314\"> </span></div></td><td class=\"c n x547 y2184 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x588 y2184 w2d4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">1,334<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2185 w2b4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsbc wsed\">FX<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x52f y2185 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x530 y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x531 y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x589 y2185 w2d5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">260<span class=\"_ _314\"> </span></div></td><td class=\"c n x58a y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x58b y2185 w2d5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">260<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2186 w2b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wscc\">O<span class=\"_ _0\"></span>T<span class=\"_ _0\"></span>C der<span class=\"_ _0\"></span>ivative<span class=\"_ _0\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x534 y2186 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x535 y2186 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x536 y2186 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x58c y2186 w2d6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsad wsdc\">5<span class=\"_ _2\"></span>82<span class=\"_ _314\"> </span></div></td><td class=\"c n x58d y2186 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x58e y2186 w2d7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsad wsdc\">582<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w2b9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Securities &amp; report<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x51a y2187 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53a y2187 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51c y2187 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x58f y2187 w2d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">235<span class=\"_ _314\"> </span></div></td><td class=\"c n x590 y2187 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x591 y2187 wec h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">23<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2188 w2bb h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6d wsd4\">Non<span class=\"_ _2\"></span>-cash collateral<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x53e y2188 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53f y2188 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x531 y2188 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x592 y2188 w2d9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">111<span class=\"_ _314\"> </span></div></td><td class=\"c n x593 y2188 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x594 y2188 w2da h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">111<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2189 w2db h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e</div><div class=\"t m0 x595 h195 y2143 ff72 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a0 y218a w246 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">4,<span class=\"_ _2\"></span>223<span class=\"_ _314\"> </span></div></td><td class=\"c n x596 y218a w24c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">911<span class=\"_ _314\"> </span></div></td><td class=\"c n x597 y218a w248 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">53<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x598 y218a w2dc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>914<span class=\"_ _314\"> </span></div></td><td class=\"c n x599 y218a w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59a y218a w2dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">8,579<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218b w2c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Net treasury income<span class=\"_ _314\"> </span></div></td><td class=\"c n x549 y218b w2c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">3.3<span class=\"_ _314\"> </span></div></td><td class=\"c n x54a y218b w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54b y218b w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54c y218b w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59b y218b w24a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">26<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x45d y218b w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59c y218b wb2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">266<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218c w2c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Other income<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x54f y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x550 y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x551 y218c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x552 y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59d y218c wc3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x59e y218c wc3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218d w40 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x48c y218d w24b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">4,223<span class=\"_ _314\"> </span></div></td><td class=\"c n x48d y218d w24c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">911<span class=\"_ _314\"> </span></div></td><td class=\"c n x48e y218d w24d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">531<span class=\"_ _314\"> </span></div></td><td class=\"c n x48f y218d w24e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">3<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x490 y218d wc3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x491 y218d w24f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">8<span class=\"_ _2\"></span>,858<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y218e ff72 fs129 fc1 sc0 ls6d wsd4\">Timing of re<span class=\"_ _0\"></span>venue recognition<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y20d9 w2c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed at a p<span class=\"_ _2\"></span>oint i<span class=\"_ _2\"></span>n tim<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x554 y20d9 w2de h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">75<span class=\"_ _314\"> </span></div></td><td class=\"c n x59f y20d9 w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a0 y20d9 w2e0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a1 y20d9 w2e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">1<span class=\"_ _2\"></span>,826<span class=\"_ _314\"> </span></div></td><td class=\"c n x522 y20d9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a2 y20d9 w2e2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls82 wsaf\">2<span class=\"_ _2\"></span>,023<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w2c8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r tim<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5a3 y20da w265 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">4<span class=\"_ _2\"></span>,14<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a4 y20da w2e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">910<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a5 y20da w2e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws1\">41<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a6 y20da w2e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6f ws99\">1,0<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td><td class=\"c n x590 y20da w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a7 y20da w2e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">6<span class=\"_ _2\"></span>,556<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w2db h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e</div><div class=\"t m0 x595 h195 y210f ff72 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a0 y2110 w246 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">4,<span class=\"_ _2\"></span>223<span class=\"_ _314\"> </span></div></td><td class=\"c n x596 y2110 w24c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">911<span class=\"_ _314\"> </span></div></td><td class=\"c n x597 y2110 w248 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">53<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x598 y2110 w2dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>914<span class=\"_ _314\"> </span></div></td><td class=\"c n x599 y2110 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59a y2110 w2dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa7 wsd3\">8,579<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff71 fs7 fc1 sc0 ls21 ws3 gs1c6\">1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>ing 2025<span class=\"_ _2\"></span>, in ad<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n to th<span class=\"_ _2\"></span>e new s<span class=\"_ _2\"></span>egm<span class=\"_ _2\"></span>ent p<span class=\"_ _2\"></span>rese<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on, s<span class=\"_ _2\"></span>ome r<span class=\"_ _2\"></span>even<span class=\"_ _2\"></span>ue it<span class=\"_ _2\"></span>ems w<span class=\"_ _2\"></span>ere re<span class=\"_ _2\"></span>allo<span class=\"_ _2\"></span>ca<span class=\"_ _2\"></span>ted be<span class=\"_ _2\"></span>tw<span class=\"_ _2\"></span>een b<span class=\"_ _2\"></span>usi<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>s lin<span class=\"_ _2\"></span>es to b<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>ter ref<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t our p<span class=\"_ _2\"></span>rodu<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>-l<span class=\"_ _2\"></span>ed op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng mo<span class=\"_ _2\"></span>del (c<span class=\"_ _2\"></span>ons<span class=\"_ _2\"></span>ist<span class=\"_ _2\"></span>ent w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g </div><div class=\"t m0 hc ff71 fs7 fc1 sc0 lsb ws3 gs1c7\">to t<span class=\"_ _2\"></span>he E<span class=\"_ _2\"></span>xecu<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve Co<span class=\"_ _2\"></span>mmi<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>ee). T<span class=\"_ _2\"></span>he im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t on t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>rev<span class=\"_ _2\"></span>iou<span class=\"_ _2\"></span>sly re<span class=\"_ _2\"></span>po<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ed 2024 res<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>s is<span class=\"_ _2\"></span>:</div><div class=\"t m0 hc ff71 fs7 fc1 sc0 ls4 ws3 gs1c8\"> <span class=\"_ _22e\"></span>\u2013 <span class=\"lsb\">Reven<span class=\"_ _2\"></span>ue of \u00a3<span class=\"_ _2\"></span>158 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>ove<span class=\"_ _2\"></span>d fro<span class=\"_ _2\"></span>m Dat<span class=\"_ _2\"></span>a &amp; Ana<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>cs t<span class=\"_ _2\"></span>o Mar<span class=\"_ _2\"></span>ket<span class=\"_ _2\"></span>s.</span></div><div class=\"t m0 hc ff71 fs7 fc1 sc0 ls4 ws3 gs1c9\"> <span class=\"_ _22e\"></span>\u2013 <span class=\"lsb\">Reven<span class=\"_ _2\"></span>ue of \u00a3<span class=\"_ _2\"></span>7 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n mov<span class=\"_ _2\"></span>ed fr<span class=\"_ _2\"></span>om F<span class=\"_ _2\"></span>TSE R<span class=\"_ _2\"></span>uss<span class=\"_ _2\"></span>ell to D<span class=\"_ _2\"></span>ata &amp; A<span class=\"_ _2\"></span>na<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>cs<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls22 ws3 gs1cb\">3.<span class=\"_ _2\"></span>2 T<span class=\"_ _3\"></span>o<span class=\"_ _2\"></span>tal reve<span class=\"_ _2\"></span>nue by ge<span class=\"_ _2\"></span>ogra<span class=\"_ _2\"></span>phica<span class=\"_ _2\"></span>l loca<span class=\"_ _2\"></span>tion<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1cc\">The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s rev<span class=\"_ _2\"></span>enue d<span class=\"_ _2\"></span>isag<span class=\"_ _2\"></span>greg<span class=\"_ _2\"></span>ated by g<span class=\"_ _2\"></span>eog<span class=\"_ _2\"></span>rap<span class=\"_ _2\"></span>hica<span class=\"_ _2\"></span>l loc<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>n of ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1cd\">prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>r is as fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>s: </div><div class=\"gs1ce\"><table class=\"s w2f9 h232\" id=\"_9ade7486-55fc-44a8-b5a5-5963610ddf36\"><tr><td></td><td class=\"c n x4c5 y2196 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2196 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5b8 y2197 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b9 y2197 w244 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w8f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ba y214a w2fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa8 wsd5\">2<span class=\"_ _2\"></span>,918<span class=\"_ _314\"> </span></div></td><td class=\"c n x5bb y214a w2fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls61 ws86\">2,7<span class=\"_ _2\"></span>17<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w28e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n x5bc y2066 w2fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa3 wsce\">3,<span class=\"_ _2\"></span>418<span class=\"_ _314\"> </span></div></td><td class=\"c n x5bd y2066 w2fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb9 wse9\">3<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w291 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Euro<span class=\"_ _2\"></span>pe, exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x5be y214c w2fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">1,<span class=\"_ _2\"></span>253<span class=\"_ _314\"> </span></div></td><td class=\"c n x5bf y214c w2ff h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">1<span class=\"_ _2\"></span>,20<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w300 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa7 wsd3\">Asia<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c0 y213e w301 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws0\">1,03<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c1 y213e w302 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">991<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w303 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c2 y2068 w304 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">457<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c3 y2068 w305 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls73 ws9c\">4<span class=\"_ _2\"></span>42<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w2bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c4 y2069 w306 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls58 wsb5\">9,08<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c5 y2069 w307 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa7 wsd3\">8<span class=\"_ _2\"></span>,579<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls22 ws3 gs1cf\">3.<span class=\"_ _2\"></span>3 Ne<span class=\"_ _2\"></span>t treas<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>y income<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1d0\">Net treasury income is earned from<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments held at amort<span class=\"_ _2\"></span>ised c<span class=\"_ _0\"></span>ost </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1d1\">or f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue as fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span></div><div class=\"gs1d2\"><table class=\"s w2e7 h231\" id=\"_36353a84-e33c-4cdd-b2fd-c52a5a91f9ef\"><tr><td></td><td class=\"c n x4e9 y218f w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y218f w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y2190 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y2190 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h187 y2191 ff72 fs129 fc1 sc0 ls6d wsd4\">Instrument<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> held at amortised cost<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2192 w2e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _0\"></span>reas<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>y inc<span class=\"_ _0\"></span>ome on assets<span class=\"_ _314\"> </span></div></td><td class=\"c n x5aa y2192 w2e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls71 ws9a\">2,<span class=\"_ _2\"></span>497</div></td><td class=\"c n x5ab y2192 w2ea h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls61 ws86\">3,<span class=\"_ _2\"></span>622<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2193 w2eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _0\"></span>reas<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>y expense<span class=\"_ _0\"></span> on assets\u00b9<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ac y2193 w2ec h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 wsbf\">(40<span class=\"_ _2\"></span>9)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ad y2193 w2ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>759<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213a w2ee h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _0\"></span>reasury expense on<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ae y213a w2ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(2<span class=\"_ _2\"></span>,566)</div></td><td class=\"c n x5af y213a w2f0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">(<span class=\"_ _2\"></span>3,465)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h187 y2194 ff72 fs129 fc1 sc0 ls76 ws5\">Net expense from<span class=\"_ _0\"></span> instruments held </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2066 w2f1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">at amortised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b0 y2066 w2f2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">(478<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b1 y2066 w2f3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">(602<span class=\"_ _0\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h187 y2195 ff72 fs129 fc1 sc0 ls6a ws3\">In<span class=\"_ _2\"></span>str<span class=\"_ _2\"></span>umen<span class=\"_ _2\"></span>ts he<span class=\"_ _2\"></span>ld at f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2075 w2f4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _0\"></span>reas<span class=\"_ _0\"></span>ur<span class=\"_ _2\"></span>y inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b2 y2075 w2f5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">735<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b3 y2075 w2f6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">868<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w2f7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t incom<span class=\"_ _2\"></span>e from i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s held a<span class=\"_ _2\"></span>t fair v<span class=\"_ _2\"></span>alue<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b4 y2068 w2f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">735<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b5 y2068 w2f6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">868<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w3a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">Net treasury income<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b6 y2069 w3b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">257<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b7 y2069 wb2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">266<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff71 fs7 fc1 sc0 ls7 ws48 gs1d3\">1 <span class=\"_ _c\"> </span>T<span class=\"_ _0\"></span>reasury expense on<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> represents amounts that earned negative inter<span class=\"_ _0\"></span>est rates.<span class=\"_ _314\"> </span></div>3.4 Contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span>We repo<span class=\"_ _2\"></span>rt c<span class=\"_ _2\"></span>ontra<span class=\"_ _2\"></span>ct li<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>itie<span class=\"_ _2\"></span>s where a<span class=\"_ _2\"></span>mount<span class=\"_ _2\"></span>s recei<span class=\"_ _2\"></span>ved or re<span class=\"_ _2\"></span>ceiv<span class=\"_ _2\"></span>able<span class=\"_ _314\"> </span>fro<span class=\"_ _2\"></span>m a custom<span class=\"_ _2\"></span>er excee<span class=\"_ _2\"></span>d revenue re<span class=\"_ _2\"></span>cogni<span class=\"_ _2\"></span>sed in t<span class=\"_ _2\"></span>he year, for exa<span class=\"_ _2\"></span>mple<span class=\"_ _314\"> </span>if t<span class=\"_ _2\"></span>he Grou<span class=\"_ _2\"></span>p recei<span class=\"_ _2\"></span>ves an ad<span class=\"_ _2\"></span>vance p<span class=\"_ _2\"></span>ay<span class=\"_ _2\"></span>ment fro<span class=\"_ _2\"></span>m a custom<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>.  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>In some instances, we r<span class=\"_ _0\"></span>eceive consideration, or an amount<span class=\"_ _314\"> </span>of con<span class=\"_ _2\"></span>sid<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>s due, in r<span class=\"_ _2\"></span>elat<span class=\"_ _2\"></span>ion to o<span class=\"_ _2\"></span>ur obl<span class=\"_ _2\"></span>igat<span class=\"_ _2\"></span>ion to t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sfer<span class=\"_ _314\"> </span>go<span class=\"_ _2\"></span>ods or s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ces to a cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer in t<span class=\"_ _2\"></span>he fu<span class=\"_ _2\"></span>ture. R<span class=\"_ _2\"></span>evenu<span class=\"_ _2\"></span>e relat<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span>to these future<span class=\"_ _0\"></span> period<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> is classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> a contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y on the<span class=\"_ _314\"> </span>balance sheet.<span class=\"_ _314\"> </span>Contrac<span class=\"_ _2\"></span>t liabilities are<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tised and recognised<span class=\"_ _0\"></span> as revenue o<span class=\"_ _0\"></span>ver<span class=\"_ _314\"> </span>the period the ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> are rendered.<span class=\"_ _314\"> </span><table class=\"s w339 h23a\" id=\"_34973e80-0845-447a-97e0-d489462fe8d9\"><tr><td></td><td class=\"c n x4e9 y21a9 w31 h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a9 w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21aa w34 h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21aa w35 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w34d h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current contract liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n x604 y213e w100 h21c\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls8 ws5\">72<span class=\"_ _314\"> </span></div></td><td class=\"c n x605 y213e w101 h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w34e h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Current contract liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n x606 y214f web h21c\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6e ws98\">27<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x607 y214f wec h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6e ws98\">290<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34f h21c\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal c<span class=\"_ _0\"></span>ontrac<span class=\"_ _2\"></span>t liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n x608 y2069 w350 h21c\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">3<span class=\"_ _2\"></span>45<span class=\"_ _314\"> </span></div></td><td class=\"c n x609 y2069 w13b h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">358<span class=\"_ _314\"> </span></div></td></tr></table>Movements in contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> during the year are<span class=\"_ _0\"></span> as follows:<span class=\"_ _314\"> </span><table class=\"s w341 h239\" id=\"_c50ade6e-ed8c-44df-95a1-e4864375676b\"><tr><td></td><td class=\"c n x4e9 y21a7 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a7 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21a8 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21a8 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w342 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td class=\"c n x5fa y214b w343 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">358<span class=\"_ _314\"> </span></div></td><td class=\"c n x5fb y214b w344 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6e ws98\">345<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w345 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>s reven<span class=\"_ _2\"></span>ue du<span class=\"_ _2\"></span>ring t<span class=\"_ _2\"></span>he ye<span class=\"_ _2\"></span>ar<span class=\"_ _314\"> </span></div></td><td class=\"c n x5fc y214c w346 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d ws97\">(219)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5fd y214c w347 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7e wsaa\">(<span class=\"_ _2\"></span>253<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w7b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Deferred<span class=\"_ _0\"></span> during the year<span class=\"_ _314\"> </span></div></td><td class=\"c n x5fe y213e w348 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">230<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ff y213e wa8 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">268<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w349 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x600 y2068 w13e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">(24)<span class=\"_ _314\"> </span></div></td><td class=\"c n x601 y2068 w34a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>2)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td class=\"c n x602 y2069 w34c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">345<span class=\"_ _314\"> </span></div></td><td class=\"c n x603 y2069 w13b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">358</div></td></tr></table>",
   "dimensions": {
    "concept": "lseg:DisclosureOfTotalIncomeAndContractLiabilities",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-556": {
   "value": "The Group\u2019<span class=\"_ _0\"></span>s re<span class=\"_ _0\"></span>venue disaggregated by<span class=\"_ _0\"></span> segment<span class=\"_ _2\"></span>, major<span class=\"_ _0\"></span> produc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> and ser<span class=\"_ _2\"></span>vice line<span class=\"_ _0\"></span> and timing of re<span class=\"_ _0\"></span>venue recognition for the<span class=\"_ _0\"></span> year ended 31 December 2025 is sho<span class=\"_ _2\"></span>wn bel<span class=\"_ _2\"></span>ow:<span class=\"_ _2\"></span> <table class=\"s w29a h22f\" id=\"_8e144462-98f6-41cc-9aad-ec7d92d487d6\"><tr><td></td><td></td><td class=\"t m0 x425 h13 y215f ff72 fs6 fc1 sc0 ls26 ws3\">Dat<span class=\"_ _2\"></span>a &amp; </td><td class=\"t m0 x426 h13 y215f ff72 fs6 fc1 sc0 ls4 ws3\">FTS<span class=\"_ _2\"></span>E </td><td class=\"t m0 x427 h13 y215f ff72 fs6 fc1 sc0 ls4 ws3\">Risk </td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x428 h13 y2160 ff72 fs6 fc1 sc0 lse5 ws125\">Analy<span class=\"_ _2\"></span>tics<span class=\"_ _314\"> </span></td><td class=\"t m0 x429 h13 y2160 ff72 fs6 fc1 sc0 ls41 ws56\">Russell<span class=\"_ _314\"> </span></td><td class=\"c n x4f8 y2161 w29b h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 lse3 ws117\">Intelligence<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f9 y2161 w29c h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls110 ws183\">M<span class=\"_ _2\"></span>ark<span class=\"_ _0\"></span>et<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fa y2161 w216 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls12 ws81\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fb y2161 w29d h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 lse0 ws110\">Gro<span class=\"_ _2\"></span>up<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x42e y2162 w218 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x42f y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x430 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x431 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x432 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x433 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x434 y2162 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2163 ff72 fs129 fc1 sc0 ls76 ws5\">Revenue<span class=\"_ _0\"></span> from external customers<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2164 w29e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Workf<span class=\"_ _2\"></span>lows<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4fc y2164 w29f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,925<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fd y2164 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fe y2164 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ff y2164 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x500 y2164 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x501 y2164 w29f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,925<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2165 w2a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Dat<span class=\"_ _2\"></span>a &amp; fee<span class=\"_ _2\"></span>ds<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x502 y2165 w2a1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1,<span class=\"_ _2\"></span>822<span class=\"_ _314\"> </span></div></td><td class=\"c n x503 y2165 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x504 y2165 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x505 y2165 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x506 y2165 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x507 y2165 w2a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,822<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2166 w2a3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">Analytics<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x508 y2166 w2a4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">231<span class=\"_ _314\"> </span></div></td><td class=\"c n x509 y2166 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x50a y2166 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x50b y2166 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x50c y2166 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x50d y2166 w2a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">231<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2167 w2a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Recoveries<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x50e y2167 w2a7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsaa wsd6\">360<span class=\"_ _314\"> </span></div></td><td class=\"c n x50f y2167 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x510 y2167 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x511 y2167 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x512 y2167 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x513 y2167 w2a8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsaa wsd6\">360<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2168 w2a9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Subscriptions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x514 y2168 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x515 y2168 w2aa h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">630<span class=\"_ _314\"> </span></div></td><td class=\"c n x516 y2168 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x517 y2168 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x518 y2168 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x519 y2168 w2aa h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">630<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2169 w2ab h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Asset-<span class=\"_ _2\"></span>based<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x51a y2169 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51b y2169 w2ac h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">3<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x51c y2169 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51d y2169 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51e y2169 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51f y2169 w2ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">324<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216a w2ae h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Customer &amp; third-par<span class=\"_ _2\"></span>ty risk solutions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a6 y216a w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a7 y216a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x520 y216a w21d h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">579<span class=\"_ _314\"> </span></div></td><td class=\"c n x521 y216a w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x522 y216a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x523 y216a w21d h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">579<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216b w2af h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Equities<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x524 y216b w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x525 y216b w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x526 y216b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x527 y216b w2b0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa3 wsce\">412<span class=\"_ _314\"> </span></div></td><td class=\"c n x528 y216b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x529 y216b w2b0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa3 wsce\">412<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216c w2b1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Fixed income<span class=\"_ _0\"></span>, derivati<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x52a y216c w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52b y216c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52c y216c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52d y216c w2b2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">1,539<span class=\"_ _314\"> </span></div></td><td class=\"c n x51e y216c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52e y216c w2b3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">1,539<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216d w2b4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsbc wsed\">FX<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x52f y216d w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x530 y216d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x531 y216d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x532 y216d w2b5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6e ws98\">272<span class=\"_ _314\"> </span></div></td><td class=\"c n x533 y216d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x1f1 y216d w2b5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6e ws98\">272<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216e w2b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wscc\">O<span class=\"_ _0\"></span>T<span class=\"_ _0\"></span>C der<span class=\"_ _0\"></span>ivative<span class=\"_ _0\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x534 y216e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x535 y216e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x536 y216e w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x537 y216e w2b7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n x538 y216e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x539 y216e w2b8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y216f w2b9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Securities &amp; report<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x51a y216f w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53a y216f w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51c y216f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53b y216f w2ba h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">229<span class=\"_ _314\"> </span></div></td><td class=\"c n x53c y216f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53d y216f w2ba h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">229<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2170 w2bb h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6d wsd4\">Non<span class=\"_ _2\"></span>-cash collateral<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x53e y2170 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53f y2170 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x531 y2170 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x540 y2170 wb1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _2\"></span>17<span class=\"_ _314\"> </span></div></td><td class=\"c n x541 y2170 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x542 y2170 w1b9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">117<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2171 w2bc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x543 y2171 w2bd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">4,338<span class=\"_ _314\"> </span></div></td><td class=\"c n x544 y2171 w21c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">954<span class=\"_ _314\"> </span></div></td><td class=\"c n x545 y2171 w2be h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">579<span class=\"_ _314\"> </span></div></td><td class=\"c n x546 y2171 w2bf h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">3,<span class=\"_ _2\"></span>210<span class=\"_ _314\"> </span></div></td><td class=\"c n x547 y2171 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x548 y2171 w38 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>081<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2172 w2c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Net treasury income<span class=\"_ _314\"> </span></div></td><td class=\"c n x549 y2172 w2c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">3.3<span class=\"_ _314\"> </span></div></td><td class=\"c n x54a y2172 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54b y2172 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54c y2172 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54d y2172 w3b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">257<span class=\"_ _314\"> </span></div></td><td class=\"c n x475 y2172 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54e y2172 w2c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">2<span class=\"_ _2\"></span>57<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2173 w2c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Other income<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x54f y2173 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x550 y2173 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x551 y2173 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x552 y2173 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x457 y2173 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x553 y2173 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2174 w40 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x447 y2174 w21b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">4,338<span class=\"_ _314\"> </span></div></td><td class=\"c n x448 y2174 w21c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">954<span class=\"_ _314\"> </span></div></td><td class=\"c n x449 y2174 w1ed h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">57<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td><td class=\"c n x44a y2174 w21f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">3,467<span class=\"_ _314\"> </span></div></td><td class=\"c n x44b y2174 w3e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x44c y2174 w41 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>346<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2175 ff72 fs129 fc1 sc0 ls6d wsd4\">Timing of re<span class=\"_ _0\"></span>venue recognition<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2176 w2c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed at a p<span class=\"_ _2\"></span>oint i<span class=\"_ _2\"></span>n tim<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x554 y2176 w2c5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls78 wse4\">74<span class=\"_ _314\"> </span></div></td><td class=\"c n x555 y2176 w55 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x556 y2176 w1d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">128<span class=\"_ _314\"> </span></div></td><td class=\"c n x557 y2176 w2c6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws0\">2,06<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x558 y2176 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x559 y2176 w2c7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">2<span class=\"_ _2\"></span>,263<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w2c8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r tim<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x55a y20da w2c9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">4<span class=\"_ _2\"></span>,264<span class=\"_ _314\"> </span></div></td><td class=\"c n x515 y20da w230 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">953<span class=\"_ _314\"> </span></div></td><td class=\"c n x55b y20da w2ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb5 wse3\">4<span class=\"_ _2\"></span>51<span class=\"_ _314\"> </span></div></td><td class=\"c n x55c y20da w2cb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>50<span class=\"_ _314\"> </span></div></td><td class=\"c n x55d y20da w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x1ee y20da w232 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsac wsd7\">6,818<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w2bc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x543 y2069 w2bd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">4,338<span class=\"_ _314\"> </span></div></td><td class=\"c n x544 y2069 w21c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">954<span class=\"_ _314\"> </span></div></td><td class=\"c n x545 y2069 w2be h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">579<span class=\"_ _314\"> </span></div></td><td class=\"c n x546 y2069 w2bf h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">3,<span class=\"_ _2\"></span>210<span class=\"_ _314\"> </span></div></td><td class=\"c n x547 y2069 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x548 y2069 w38 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>081<span class=\"_ _314\"> </span></div></td></tr></table>The Group\u2019<span class=\"_ _0\"></span>s re-presented revenue<span class=\"_ _0\"></span> disaggregated by segment, major pr<span class=\"_ _0\"></span>oduc<span class=\"_ _2\"></span>t and service line and timing o<span class=\"_ _0\"></span>f revenue<span class=\"_ _0\"></span> recognition for the year<span class=\"_ _0\"></span> ended 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2024 is show<span class=\"_ _2\"></span>n bel<span class=\"_ _2\"></span>ow:<span class=\"_ _2\"></span> <table class=\"s w2cc h230\" id=\"_5896af01-a3b6-4824-8b4d-9655d97b457a\"><tr><td></td><td></td><td class=\"t m0 x2cc hb y2177 ff71 fs6 fc1 sc0 ls26 ws3\">Dat<span class=\"_ _2\"></span>a &amp; </td><td class=\"t m0 x426 hb y2177 ff71 fs6 fc1 sc0 ls4 ws3\">FT<span class=\"_ _2\"></span>SE </td><td class=\"t m0 x427 hb y2177 ff71 fs6 fc1 sc0 lse5 ws125\">Risk </td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x428 hb y2178 ff71 fs6 fc1 sc0 lsf1 ws5e\">Analytics<span class=\"_ _314\"> </span></td><td class=\"t m0 x55e hb y2178 ff71 fs6 fc1 sc0 ls27 ws45\">Russell<span class=\"_ _314\"> </span></td><td class=\"c n x55f y2179 w240 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls27 ws45\">Intelligence<span class=\"_ _314\"> </span></div></td><td class=\"c n x560 y2179 w241 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls8d ws184\">M<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>kets<span class=\"_ _314\"> </span></div></td><td class=\"c n x561 y2179 w242 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls27 ws45\">Ot<span class=\"_ _2\"></span>her<span class=\"_ _314\"> </span></div></td><td class=\"c n x562 y2179 w243 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls4 ws3\">Group<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x42e y217a w218 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x563 y217a w244 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x564 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x565 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x566 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x567 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x568 y217a w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y217b ff72 fs129 fc1 sc0 ls76 ws5\">Revenue<span class=\"_ _0\"></span> from external customers<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y217c w29e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Workf<span class=\"_ _2\"></span>lows<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x569 y217c w2cd h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">1,899<span class=\"_ _314\"> </span></div></td><td class=\"c n x56a y217c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x56b y217c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x56c y217c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x56d y217c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x56e y217c w2ce h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">1,<span class=\"_ _2\"></span>899<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y217d w2a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Dat<span class=\"_ _2\"></span>a &amp; fee<span class=\"_ _2\"></span>ds<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x56f y217d w2cf h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>74<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y217d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y217d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y217d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x445 y217d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x570 y217d w2cf h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>74<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y217e w2a3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">Analytics<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x571 y217e w2d0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">220<span class=\"_ _314\"> </span></div></td><td class=\"c n x460 y217e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x461 y217e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x462 y217e w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x572 y217e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x573 y217e w192 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">220<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y217f w2a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Recoveries<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x574 y217f wcc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">364<span class=\"_ _314\"> </span></div></td><td class=\"c n x575 y217f w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x576 y217f w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x577 y217f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x578 y217f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x579 y217f wcc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">364<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2180 w2a9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Subscriptions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x514 y2180 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x57a y2180 w2d1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">6<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td><td class=\"c n x57b y2180 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x57c y2180 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x489 y2180 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x292 y2180 w2d1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">6<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2181 w2ab h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Asset-<span class=\"_ _2\"></span>based<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x51a y2181 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51b y2181 w2d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">308<span class=\"_ _314\"> </span></div></td><td class=\"c n x57d y2181 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x57e y2181 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x57f y2181 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x580 y2181 w2d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">308<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2182 w2ae h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Customer &amp; third-par<span class=\"_ _2\"></span>ty risk solutions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a6 y2182 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a7 y2182 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x581 y2182 w24d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">531<span class=\"_ _314\"> </span></div></td><td class=\"c n x582 y2182 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x583 y2182 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x584 y2182 w24d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">531<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2183 w2af h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Equities<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x524 y2183 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x525 y2183 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x526 y2183 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x585 y2183 w2d3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa2 wscd\">3<span class=\"_ _2\"></span>92<span class=\"_ _314\"> </span></div></td><td class=\"c n x451 y2183 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x586 y2183 w185 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa2 wscd\">392<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2184 w2b1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Fixed income<span class=\"_ _0\"></span>, derivati<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x52a y2184 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52b y2184 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x52c y2184 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x587 y2184 w2d4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">1,334<span class=\"_ _314\"> </span></div></td><td class=\"c n x547 y2184 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x588 y2184 w2d4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">1,334<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2185 w2b4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsbc wsed\">FX<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x52f y2185 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x530 y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x531 y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x589 y2185 w2d5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">260<span class=\"_ _314\"> </span></div></td><td class=\"c n x58a y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x58b y2185 w2d5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">260<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2186 w2b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wscc\">O<span class=\"_ _0\"></span>T<span class=\"_ _0\"></span>C der<span class=\"_ _0\"></span>ivative<span class=\"_ _0\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x534 y2186 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x535 y2186 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x536 y2186 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x58c y2186 w2d6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsad wsdc\">5<span class=\"_ _2\"></span>82<span class=\"_ _314\"> </span></div></td><td class=\"c n x58d y2186 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x58e y2186 w2d7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsad wsdc\">582<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w2b9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Securities &amp; report<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x51a y2187 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53a y2187 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x51c y2187 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x58f y2187 w2d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">235<span class=\"_ _314\"> </span></div></td><td class=\"c n x590 y2187 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x591 y2187 wec h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">23<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2188 w2bb h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6d wsd4\">Non<span class=\"_ _2\"></span>-cash collateral<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x53e y2188 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x53f y2188 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x531 y2188 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x592 y2188 w2d9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">111<span class=\"_ _314\"> </span></div></td><td class=\"c n x593 y2188 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x594 y2188 w2da h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">111<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2189 w2db h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e</div><div class=\"t m0 x595 h195 y2143 ff72 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a0 y218a w246 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">4,<span class=\"_ _2\"></span>223<span class=\"_ _314\"> </span></div></td><td class=\"c n x596 y218a w24c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">911<span class=\"_ _314\"> </span></div></td><td class=\"c n x597 y218a w248 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">53<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x598 y218a w2dc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>914<span class=\"_ _314\"> </span></div></td><td class=\"c n x599 y218a w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59a y218a w2dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">8,579<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218b w2c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Net treasury income<span class=\"_ _314\"> </span></div></td><td class=\"c n x549 y218b w2c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">3.3<span class=\"_ _314\"> </span></div></td><td class=\"c n x54a y218b w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54b y218b w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x54c y218b w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59b y218b w24a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">26<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x45d y218b w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59c y218b wb2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">266<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218c w2c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Other income<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x54f y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x550 y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x551 y218c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x552 y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59d y218c wc3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x59e y218c wc3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218d w40 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x48c y218d w24b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">4,223<span class=\"_ _314\"> </span></div></td><td class=\"c n x48d y218d w24c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">911<span class=\"_ _314\"> </span></div></td><td class=\"c n x48e y218d w24d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">531<span class=\"_ _314\"> </span></div></td><td class=\"c n x48f y218d w24e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">3<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x490 y218d wc3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x491 y218d w24f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">8<span class=\"_ _2\"></span>,858<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y218e ff72 fs129 fc1 sc0 ls6d wsd4\">Timing of re<span class=\"_ _0\"></span>venue recognition<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y20d9 w2c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed at a p<span class=\"_ _2\"></span>oint i<span class=\"_ _2\"></span>n tim<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x554 y20d9 w2de h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">75<span class=\"_ _314\"> </span></div></td><td class=\"c n x59f y20d9 w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a0 y20d9 w2e0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a1 y20d9 w2e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">1<span class=\"_ _2\"></span>,826<span class=\"_ _314\"> </span></div></td><td class=\"c n x522 y20d9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a2 y20d9 w2e2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls82 wsaf\">2<span class=\"_ _2\"></span>,023<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w2c8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s sat<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed ove<span class=\"_ _2\"></span>r tim<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5a3 y20da w265 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">4<span class=\"_ _2\"></span>,14<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a4 y20da w2e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">910<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a5 y20da w2e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws1\">41<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a6 y20da w2e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6f ws99\">1,0<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td><td class=\"c n x590 y20da w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a7 y20da w2e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">6<span class=\"_ _2\"></span>,556<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w2db h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa5 wse7\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _2\"></span> r<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>e<span class=\"_ _2\"></span>n<span class=\"_ _1\"></span>u<span class=\"_ _2\"></span>e</div><div class=\"t m0 x595 h195 y210f ff72 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x4a0 y2110 w246 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">4,<span class=\"_ _2\"></span>223<span class=\"_ _314\"> </span></div></td><td class=\"c n x596 y2110 w24c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">911<span class=\"_ _314\"> </span></div></td><td class=\"c n x597 y2110 w248 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">53<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x598 y2110 w2dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>914<span class=\"_ _314\"> </span></div></td><td class=\"c n x599 y2110 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x59a y2110 w2dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa7 wsd3\">8,579<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>ing 2025<span class=\"_ _2\"></span>, in ad<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n to th<span class=\"_ _2\"></span>e new s<span class=\"_ _2\"></span>egm<span class=\"_ _2\"></span>ent p<span class=\"_ _2\"></span>rese<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on, s<span class=\"_ _2\"></span>ome r<span class=\"_ _2\"></span>even<span class=\"_ _2\"></span>ue it<span class=\"_ _2\"></span>ems w<span class=\"_ _2\"></span>ere re<span class=\"_ _2\"></span>allo<span class=\"_ _2\"></span>ca<span class=\"_ _2\"></span>ted be<span class=\"_ _2\"></span>tw<span class=\"_ _2\"></span>een b<span class=\"_ _2\"></span>usi<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>s lin<span class=\"_ _2\"></span>es to b<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>ter ref<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t our p<span class=\"_ _2\"></span>rodu<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>-l<span class=\"_ _2\"></span>ed op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng mo<span class=\"_ _2\"></span>del (c<span class=\"_ _2\"></span>ons<span class=\"_ _2\"></span>ist<span class=\"_ _2\"></span>ent w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g to t<span class=\"_ _2\"></span>he E<span class=\"_ _2\"></span>xecu<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve Co<span class=\"_ _2\"></span>mmi<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>ee). T<span class=\"_ _2\"></span>he im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t on t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>rev<span class=\"_ _2\"></span>iou<span class=\"_ _2\"></span>sly re<span class=\"_ _2\"></span>po<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ed 2024 res<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>s is<span class=\"_ _2\"></span>: <span class=\"_ _22e\"></span>\u2013 <span class=\"lsb\">Reven<span class=\"_ _2\"></span>ue of \u00a3<span class=\"_ _2\"></span>158 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>ove<span class=\"_ _2\"></span>d fro<span class=\"_ _2\"></span>m Dat<span class=\"_ _2\"></span>a &amp; Ana<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>cs t<span class=\"_ _2\"></span>o Mar<span class=\"_ _2\"></span>ket<span class=\"_ _2\"></span>s.</span> <span class=\"_ _22e\"></span>\u2013 <span class=\"lsb\">Reven<span class=\"_ _2\"></span>ue of \u00a3<span class=\"_ _2\"></span>7 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n mov<span class=\"_ _2\"></span>ed fr<span class=\"_ _2\"></span>om F<span class=\"_ _2\"></span>TSE R<span class=\"_ _2\"></span>uss<span class=\"_ _2\"></span>ell to D<span class=\"_ _2\"></span>ata &amp; A<span class=\"_ _2\"></span>na<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>cs<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfRevenueFromContractsWithCustomersExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-480": {
   "value": "  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>In some instances, we r<span class=\"_ _0\"></span>eceive consideration, or an amount<span class=\"_ _314\"> </span> of con<span class=\"_ _2\"></span>sid<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>s due, in r<span class=\"_ _2\"></span>elat<span class=\"_ _2\"></span>ion to o<span class=\"_ _2\"></span>ur obl<span class=\"_ _2\"></span>igat<span class=\"_ _2\"></span>ion to t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sfer<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> go<span class=\"_ _2\"></span>ods or s<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ces to a cu<span class=\"_ _2\"></span>sto<span class=\"_ _2\"></span>mer in t<span class=\"_ _2\"></span>he fu<span class=\"_ _2\"></span>ture. R<span class=\"_ _2\"></span>evenu<span class=\"_ _2\"></span>e relat<span class=\"_ _2\"></span>ing<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> to these future<span class=\"_ _0\"></span> period<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> is classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> a contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y on the<span class=\"_ _314\"> </span> balance sheet.<span class=\"_ _314\"> </span>Contrac<span class=\"_ _2\"></span>t liabilities are<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tised and recognised<span class=\"_ _0\"></span> as revenue o<span class=\"_ _0\"></span>ver<span class=\"_ _314\"> </span> the period the ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> are rendered.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "lseg:DescriptionOfAccountingPolicyForContractLiabilities",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-539": {
   "value": "  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>Cost<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e recognised in the<span class=\"_ _0\"></span> income statement as incurred and<span class=\"_ _314\"> </span>measured after deduct<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> any time<span class=\"_ _2\"></span>- and<span class=\"_ _0\"></span> value<span class=\"_ _2\"></span>-limited discounts.<span class=\"_ _314\"> </span>Other discount<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e spread o<span class=\"_ _0\"></span>ver the contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> term.<span class=\"_ _314\"> </span> <span class=\"_ _2\"></span>Significant accounting judgement<span class=\"_ _314\"> </span>Supplier/<span class=\"_ _0\"></span>par<span class=\"_ _2\"></span>tner<span class=\"_ _0\"></span> discounts<span class=\"_ _314\"> </span>The Group e<span class=\"_ _0\"></span>xercises judgement when<span class=\"_ _0\"></span> discount<span class=\"_ _2\"></span>s from<span class=\"_ _0\"></span> suppliers<span class=\"_ _314\"> </span>and part<span class=\"_ _2\"></span>ners are<span class=\"_ _0\"></span> recognised. That is, whether discounts are<span class=\"_ _314\"> </span>deduc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed as expenses arise or<span class=\"_ _0\"></span> spread over<span class=\"_ _0\"></span> the contrac<span class=\"_ _2\"></span>t term.<span class=\"_ _314\"> </span>Cer<span class=\"_ _2\"></span>tain time- and value-<span class=\"_ _2\"></span>limited discounts in<span class=\"_ _0\"></span> relation to the 10<span class=\"_ _2\"></span>-year<span class=\"_ _314\"> </span>str<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>egic par<span class=\"_ _2\"></span>tnership with Microsof<span class=\"_ _2\"></span>t ar<span class=\"_ _0\"></span>e deduc<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> as expenses<span class=\"_ _314\"> </span>arise. In making this<span class=\"_ _0\"></span> asses<span class=\"_ _2\"></span>sment, management c<span class=\"_ _0\"></span>onsidered the<span class=\"_ _314\"> </span>contrac<span class=\"_ _2\"></span>tual<span class=\"_ _0\"></span> perio<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> during which the Group has ac<span class=\"_ _0\"></span>cess to the<span class=\"_ _314\"> </span>discounts and the nature<span class=\"_ _0\"></span> of any claw-back mechanisms in<span class=\"_ _0\"></span> place.<span class=\"_ _314\"> </span>4. Operating expens<span class=\"_ _0\"></span>es before de<span class=\"_ _0\"></span>preciation, a<span class=\"_ _0\"></span>mor<span class=\"_ _2\"></span>tisation and i<span class=\"_ _0\"></span>mpairment<span class=\"_ _314\"> </span>Op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ing ex<span class=\"_ _2\"></span>penses m<span class=\"_ _2\"></span>ainl<span class=\"_ _2\"></span>y relate to s<span class=\"_ _2\"></span>taf<span class=\"_ _2\"></span>f cost<span class=\"_ _2\"></span>s, IT c<span class=\"_ _2\"></span>osts a<span class=\"_ _2\"></span>nd thi<span class=\"_ _2\"></span>rd-<span class=\"_ _2\"></span>par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span>ser<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ces. Th<span class=\"_ _2\"></span>is note pr<span class=\"_ _2\"></span>ovides a b<span class=\"_ _2\"></span>reakdo<span class=\"_ _2\"></span>wn of our o<span class=\"_ _2\"></span>pera<span class=\"_ _2\"></span>ting e<span class=\"_ _2\"></span>xpen<span class=\"_ _2\"></span>ses as<span class=\"_ _314\"> </span>wel<span class=\"_ _2\"></span>l as provi<span class=\"_ _2\"></span>ding f<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>ther d<span class=\"_ _2\"></span>etail o<span class=\"_ _2\"></span>n our hea<span class=\"_ _2\"></span>dcoun<span class=\"_ _2\"></span>t and fee<span class=\"_ _2\"></span>s to audi<span class=\"_ _2\"></span>tors<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span><table class=\"s w308 h233\" id=\"_1a40bb8c-2730-4411-942b-afa3eb04c36d\"><tr><td></td><td></td><td class=\"c n x5c6 y2198 w26f h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c7 y2198 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5c8 y2199 w309 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls39 ws0\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c9 y2199 w34 h234\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ca y2199 w244 h234\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2154 w30a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 ws9e\">Staf<span class=\"_ _2\"></span>f costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cb y2154 w30b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">4<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cc y2154 w30c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa3 wsce\">2<span class=\"_ _2\"></span>,41<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cd y2154 w30d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,3<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2155 w30e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">IT co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ce y2155 w30f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">675<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cf y2155 w2f6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb8 wse8\">648<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219a w310 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y services<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5d0 y219a w311 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls7b wse0\">371<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d1 y219a w312 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb8 wse8\">448<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2157 w313 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Shor<span class=\"_ _2\"></span>t-term<span class=\"_ _0\"></span> lease cost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5d2 y2157 w314 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d3 y2157 w315 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y219b ff71 fs129 fc1 sc0 ls76 ws5\">Fair value<span class=\"_ _0\"></span> gains on contingent </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y219c w316 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">consideration<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5d4 y219c w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d5 y219c w317 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">(21<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215a w318 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Other cost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5d6 y215a w178 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">362<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d7 y215a w319 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">360<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x5d8 y219d w31a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls7b wse0\">3,837<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d9 y219d w31b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">3,812<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w31c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Foreign ex<span class=\"_ _0\"></span>change gains<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5da y219e wa0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5db y219e w31d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y219f ff71 fs129 fc1 sc0 ls76 ws5\">Fair value<span class=\"_ _0\"></span> losses<span class=\"_ _2\"></span>/(gains<span class=\"_ _0\"></span>) on embedded </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21a0 w31e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5dc y21a0 w31f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">33<span class=\"_ _314\"> </span></div></td><td class=\"c n x5dd y21a0 w12e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w320 h235\"><div class=\"t m2 x1e4 h187 y20d1 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal operating e<span class=\"_ _0\"></span>xpenses before<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws7e\">depreciation, amortisation and impairment<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5de y2069 w321 h236\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">3,<span class=\"_ _2\"></span>869<span class=\"_ _314\"> </span></div></td><td class=\"c n x5df y2069 w322 h236\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls61 ws86\">3<span class=\"_ _2\"></span>,77<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr></table>4.1 Staf<span class=\"_ _2\"></span>f cos<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d empl<span class=\"_ _2\"></span>oyees<span class=\"_ _314\"> </span>This n<span class=\"_ _2\"></span>ote show<span class=\"_ _2\"></span>s amou<span class=\"_ _2\"></span>nts ea<span class=\"_ _2\"></span>rned by e<span class=\"_ _2\"></span>mploye<span class=\"_ _2\"></span>es, t<span class=\"_ _2\"></span>he ave<span class=\"_ _2\"></span>rage num<span class=\"_ _2\"></span>ber<span class=\"_ _314\"> </span>of emp<span class=\"_ _2\"></span>loyees d<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g the ye<span class=\"_ _2\"></span>ar and t<span class=\"_ _2\"></span>heir lo<span class=\"_ _2\"></span>cat<span class=\"_ _2\"></span>ion, a<span class=\"_ _2\"></span>nd amou<span class=\"_ _2\"></span>nts p<span class=\"_ _2\"></span>aid<span class=\"_ _314\"> </span>to \u201ckey man<span class=\"_ _2\"></span>ageme<span class=\"_ _2\"></span>nt per<span class=\"_ _2\"></span>sonne<span class=\"_ _2\"></span>l\u201d as def<span class=\"_ _2\"></span>ine<span class=\"_ _2\"></span>d by IAS 24 Relate<span class=\"_ _2\"></span>d Par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span>Dis<span class=\"_ _2\"></span>closure<span class=\"_ _2\"></span>s. The G<span class=\"_ _2\"></span>roup re<span class=\"_ _2\"></span>cogni<span class=\"_ _2\"></span>ses all D<span class=\"_ _2\"></span>irecto<span class=\"_ _2\"></span>rs an<span class=\"_ _2\"></span>d the E<span class=\"_ _2\"></span>xecut<span class=\"_ _2\"></span>ive<span class=\"_ _314\"> </span>Commit<span class=\"_ _2\"></span>tee<span class=\"_ _0\"></span> as it<span class=\"_ _2\"></span>s k<span class=\"_ _0\"></span>ey management personnel.<span class=\"_ _314\"> </span>Sta<span class=\"_ _2\"></span>ff cos<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span><table class=\"s w323 h237\" id=\"_3af82618-fe70-49bc-a888-ef362d93ca4e\"><tr><td></td><td></td><td class=\"c n x4e9 y21a1 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a1 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5e0 y21a2 w33 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e1 y21a2 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e2 y21a2 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a3 w324 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Salaries and other<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5e3 y21a3 w325 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws0\">2,<span class=\"_ _2\"></span>320<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e4 y21a3 w326 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,255<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w327 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Social securit<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5e5 y214a w328 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">230<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e6 y214a w329 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">215<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w32a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wsd6\">Pensio<span class=\"_ _2\"></span>n costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e7 y214b w32b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">12.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e8 y214b w32c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">120<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e9 y214b w32d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">100<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a4 w32e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Share-<span class=\"_ _2\"></span>based<span class=\"_ _0\"></span> payment expense<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ea y21a4 w14a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n x5eb y21a4 w32f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls72 ws9b\">176<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ec y21a4 w330 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w331 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> made to<span class=\"_ _0\"></span> employees<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ed y213e w332 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls75 ws9e\">2<span class=\"_ _2\"></span>,846<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ee y213e w333 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls61 ws86\">2,73<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w334 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Amounts capitalised as development<span class=\"_ _0\"></span> cost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ef y214f w335 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 wsbf\">(429<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f0 y214f w336 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">(368)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w337 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ota<span class=\"_ _2\"></span>l sta<span class=\"_ _2\"></span>ff co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5cc y2069 w30c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa3 wsce\">2<span class=\"_ _2\"></span>,41<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f1 y2069 w338 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,3<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td></tr></table>Compensation for<span class=\"_ _0\"></span> key ma<span class=\"_ _0\"></span>nagement personnel<span class=\"_ _314\"> </span><table class=\"s w339 h238\" id=\"_58288ba8-a901-49e6-a9f1-3bf1594f3545\"><tr><td></td><td class=\"c n x4e9 y21a5 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a5 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21a6 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21a6 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w324 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Salaries and other<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f2 y214c w33a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f3 y214c waf h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">21<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w32a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wsd6\">Pensio<span class=\"_ _2\"></span>n costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f4 y213e w55 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f5 y213e w2df h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w33b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Share-<span class=\"_ _2\"></span>based<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s</div><div class=\"t m2 x5f6 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ec y2068 w33c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">23<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f7 y2068 w33d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa1 wsda\">18<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w33e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>otal compensation<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f8 y2069 w33f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls72 ws9b\">42<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f9 y2069 w340 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsba wsea\">40<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>For 20<span class=\"_ _0\"></span>24,<span class=\"_ _0\"></span> the share-base<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> payment amounts have been<span class=\"_ _0\"></span> re-<span class=\"_ _2\"></span>presented<span class=\"_ _0\"></span> to align<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> the<span class=\"_ _314\"> </span>ex<span class=\"_ _2\"></span>pen<span class=\"_ _2\"></span>se rec<span class=\"_ _2\"></span>ogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d in t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>sol<span class=\"_ _2\"></span>ida<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e st<span class=\"_ _2\"></span>ate<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t and to b<span class=\"_ _2\"></span>e con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t wi<span class=\"_ _2\"></span>th 2025<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Details of Dir<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>tors\u2019<span class=\"_ _0\"></span> emolument<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e included in the Remuneration<span class=\"_ _314\"> </span>Rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t on pa<span class=\"_ _2\"></span>ges 82 to 1<span class=\"_ _2\"></span>03<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Average<span class=\"_ _0\"></span> number of employees<span class=\"_ _314\"> </span>The average number<span class=\"_ _0\"></span> of employees during the y<span class=\"_ _0\"></span>ear<span class=\"_ _0\"></span>, including Executi<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> Dir<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tors<span class=\"_ _2\"></span>, was a<span class=\"_ _2\"></span>s foll<span class=\"_ _2\"></span>ows:<span class=\"_ _314\"> </span><table class=\"s w358 h23c\" id=\"_5f6432d9-e96f-4b05-9093-afa48f0ad66f\"><tr><td></td><td class=\"c n x4c5 y21b4 w26f h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y21b4 w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w8f h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n x615 y2187 w359 h21c\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">4,941<span class=\"_ _314\"> </span></div></td><td class=\"c n x616 y2187 w35a h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">4<span class=\"_ _0\"></span>,900<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2188 w28e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n x617 y2188 w35b h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls21 ws8a\">3<span class=\"_ _2\"></span>,2<span class=\"_ _2\"></span>47<span class=\"_ _314\"> </span></div></td><td class=\"c n x618 y2188 w35c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">3,<span class=\"_ _2\"></span>235<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b5 w35d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">India<span class=\"_ _314\"> </span></div></td><td class=\"c n x619 y21b5 w35e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _2\"></span>8<span class=\"_ _1\"></span>1<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x61a y21b5 w35f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218b w291 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Euro<span class=\"_ _2\"></span>pe, exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x61b y218b w360 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">3,3<span class=\"_ _2\"></span>13<span class=\"_ _314\"> </span></div></td><td class=\"c n x61c y218b w361 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls91 wsbf\">3,1<span class=\"_ _2\"></span>99<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218c w362 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Philippines<span class=\"_ _314\"> </span></div></td><td class=\"c n x61d y218c w363 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">2,<span class=\"_ _2\"></span>223<span class=\"_ _314\"> </span></div></td><td class=\"c n x61e y218c w364 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>21<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b6 w365 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Sri Lanka<span class=\"_ _314\"> </span></div></td><td class=\"c n x61f y21b6 w366 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1,71<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n x620 y21b6 w367 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">1,7<span class=\"_ _2\"></span>20<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213c w368 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">China<span class=\"_ _314\"> </span></div></td><td class=\"c n x621 y213c w369 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>224<span class=\"_ _314\"> </span></div></td><td class=\"c n x622 y213c w36a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls71 ws9a\">1,<span class=\"_ _2\"></span>279<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w36b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Other A<span class=\"_ _2\"></span>si<span class=\"_ _0\"></span>a<span class=\"_ _314\"> </span></div></td><td class=\"c n x623 y213d w36c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls39 ws0\">2,0<span class=\"_ _2\"></span>09<span class=\"_ _314\"> </span></div></td><td class=\"c n x624 y213d w36d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">2,07<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w36e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Af<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>a and M<span class=\"_ _2\"></span>idd<span class=\"_ _2\"></span>le Eas<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x625 y20d9 w36f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">562<span class=\"_ _314\"> </span></div></td><td class=\"c n x626 y20d9 w77 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">589<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w303 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x627 y20da w370 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">653<span class=\"_ _314\"> </span></div></td><td class=\"c n x628 y20da w371 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w372 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">Average<span class=\"_ _0\"></span> number of employ<span class=\"_ _0\"></span>ees</div><div class=\"t m2 x629 h195 y2143 ff72 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x62a y2110 w373 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls83 wsb0\"><span><span class=\"gs38\" id=\"__138\">2 7, 6 9 5</span><span class=\"_ _314\"> </span></span></div></td><td class=\"c n x62b y2110 w374 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>0<span class=\"_ _1\"></span>3<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>Average employ<span class=\"_ _0\"></span>ee numbers represent<span class=\"_ _0\"></span> full<span class=\"_ _2\"></span>-time equivalent members of<span class=\"_ _0\"></span> staf<span class=\"_ _2\"></span>f.<span class=\"_ _0\"></span> They are calculated from<span class=\"_ _0\"></span> the date of<span class=\"_ _0\"></span> acquisition of subsidiary companies<span class=\"_ _0\"></span> purchased in<span class=\"_ _0\"></span> the year and up to t<span class=\"_ _2\"></span>he d<span class=\"_ _2\"></span>ate of d<span class=\"_ _2\"></span>isp<span class=\"_ _2\"></span>osa<span class=\"_ _2\"></span>l of bu<span class=\"_ _2\"></span>sin<span class=\"_ _2\"></span>ess<span class=\"_ _2\"></span>es so<span class=\"_ _2\"></span>ld in t<span class=\"_ _2\"></span>he ye<span class=\"_ _2\"></span>ar.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>otal number of employees At 31 December<span class=\"_ _0\"></span>, the number o<span class=\"_ _0\"></span>f employees, including Executive Dir<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tors<span class=\"_ _2\"></span>, was a<span class=\"_ _2\"></span>s foll<span class=\"_ _2\"></span>ows:<span class=\"_ _314\"> </span><table class=\"s w375 h23d\" id=\"_aa33b3c4-640b-4408-b8b3-74d2ad78bfe2\"><tr><td></td><td class=\"c n x4e9 y21b7 w31 h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21b7 w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21b8 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21b8 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b9 w8f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n x62c y21b9 w376 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls39 ws0\">5,0<span class=\"_ _2\"></span>43<span class=\"_ _314\"> </span></div></td><td class=\"c n x62d y21b9 w377 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">4,855<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2062 w28e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n x62e y2062 w378 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsaa wsd6\">3,218<span class=\"_ _314\"> </span></div></td><td class=\"c n x62f y2062 w379 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">3<span class=\"_ _2\"></span>,23<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2189 w35d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">India<span class=\"_ _314\"> </span></div></td><td class=\"c n x630 y2189 w37a h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">8,54<span class=\"_ _0\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x631 y2189 w37b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>3<span class=\"_ _1\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21ba w291 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Euro<span class=\"_ _2\"></span>pe, exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x632 y21ba w37c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">3,388<span class=\"_ _314\"> </span></div></td><td class=\"c n x633 y21ba w37d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">3<span class=\"_ _2\"></span>,28<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2073 w362 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Philippines<span class=\"_ _314\"> </span></div></td><td class=\"c n x634 y2073 w37e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">2,<span class=\"_ _2\"></span>225<span class=\"_ _314\"> </span></div></td><td class=\"c n x635 y2073 w37f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb9 wse9\">2<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>242<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w365 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Sri Lanka<span class=\"_ _314\"> </span></div></td><td class=\"c n x636 y214a w380 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,72<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x637 y214a w381 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>42<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w368 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">China<span class=\"_ _314\"> </span></div></td><td class=\"c n x638 y214b w2a2 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,222<span class=\"_ _314\"> </span></div></td><td class=\"c n x639 y214b w382 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>,222<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w36b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Other A<span class=\"_ _2\"></span>si<span class=\"_ _0\"></span>a<span class=\"_ _314\"> </span></div></td><td class=\"c n x63a y214c w383 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1,9<span class=\"_ _2\"></span>62<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f5 y214c w1c3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsba wsea\">2,<span class=\"_ _0\"></span>046<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w36e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Af<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>a and M<span class=\"_ _2\"></span>idd<span class=\"_ _2\"></span>le Eas<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x63b y213e w384 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">540<span class=\"_ _314\"> </span></div></td><td class=\"c n x63c y213e w385 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w303 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x627 y214f w23c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">656<span class=\"_ _314\"> </span></div></td><td class=\"c n x63d y214f w386 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">6<span class=\"_ _2\"></span>49<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w387 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws5\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> number of employ<span class=\"_ _0\"></span>ees<span class=\"_ _314\"> </span></div></td><td class=\"c n x63e y2069 w388 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">28,516<span class=\"_ _314\"> </span></div></td><td class=\"c n x63f y2069 w389 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">2<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr></table>4.<span class=\"_ _2\"></span>2 Audi<span class=\"_ _2\"></span>tors\u2019 fe<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span>O<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r cost<span class=\"_ _2\"></span>s in<span class=\"_ _2\"></span>clud<span class=\"_ _2\"></span>e fees p<span class=\"_ _2\"></span>aid or p<span class=\"_ _2\"></span>ayab<span class=\"_ _2\"></span>le to th<span class=\"_ _2\"></span>e Com<span class=\"_ _2\"></span>pany<span class=\"_ _2\"></span>\u2019s aud<span class=\"_ _2\"></span>itor<span class=\"_ _2\"></span>s and<span class=\"_ _2\"></span> are analysed below:<span class=\"_ _314\"> </span><table class=\"s w339 h23e\" id=\"_b119e271-8f4d-489b-b30a-3c06d7817864\"><tr><td></td><td class=\"c n x4e9 y21bb w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21bb w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21bc w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21bc w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y21bd ff71 fs129 fc1 sc0 ls89 wsda\">Audit of<span class=\"_ _0\"></span> parent and<span class=\"_ _0\"></span> consolidated </td><td></td><td></td></tr><tr><td class=\"c n x1eb y214c w38a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">financial statement<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x640 y214c w9f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td><td class=\"c n x641 y214c w38b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w38c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Audit of<span class=\"_ _0\"></span> subsidiar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> companies<span class=\"_ _314\"> </span></div></td><td class=\"c n x642 y213e w1d5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">11<span class=\"_ _314\"> </span></div></td><td class=\"c n x643 y213e wb8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w38d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6d wsd4\">Non<span class=\"_ _2\"></span>-audit ser<span class=\"_ _2\"></span>vices</div><div class=\"t m2 x644 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x645 y2068 w3e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x646 y2068 w2df h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w38e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal auditors<span class=\"_ _0\"></span>\u2019 fees<span class=\"_ _314\"> </span></div></td><td class=\"c n x647 y2069 w38f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n x648 y2069 wa0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">16<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>elo<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>te LL<span class=\"_ _2\"></span>P prov<span class=\"_ _2\"></span>id<span class=\"_ _2\"></span>ed no<span class=\"_ _2\"></span>n-<span class=\"_ _2\"></span>aud<span class=\"_ _2\"></span>it se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>es of \u00a3<span class=\"_ _2\"></span>1.<span class=\"_ _2\"></span>8 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n; 9% of t<span class=\"_ _2\"></span>ota<span class=\"_ _2\"></span>l fees (<span class=\"_ _2\"></span>2024: \u00a31<span class=\"_ _2\"></span>.1 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n; 7% of t<span class=\"_ _0\"></span>otal fees).<span class=\"_ _0\"></span> This comprised audit-related assurance<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> of \u00a30.5<span class=\"_ _0\"></span> million (202<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _0\"></span>0.5 million)<span class=\"_ _0\"></span> and other non-audit ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> of \u00a31.3 million (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a30.6 million)<span class=\"_ _0\"></span>. Fu<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>her d<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>ails o<span class=\"_ _2\"></span>f th<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices p<span class=\"_ _2\"></span>rov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by De<span class=\"_ _2\"></span>loi<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>e LLP a<span class=\"_ _2\"></span>re gi<span class=\"_ _2\"></span>ven in t<span class=\"_ _2\"></span>he Re<span class=\"_ _2\"></span>po<span class=\"_ _2\"></span>rt o<span class=\"_ _2\"></span>f the<span class=\"_ _2\"></span> Au<span class=\"_ _2\"></span>dit C<span class=\"_ _2\"></span>omm<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>tee o<span class=\"_ _2\"></span>n pa<span class=\"_ _2\"></span>ge 79.<span class=\"_ _2\"></span> ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-481": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>Cost<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e recognised in the<span class=\"_ _0\"></span> income statement as incurred and<span class=\"_ _314\"> </span> measured after deduct<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> any time<span class=\"_ _2\"></span>- and<span class=\"_ _0\"></span> value<span class=\"_ _2\"></span>-limited discounts.<span class=\"_ _314\"> </span> Other discount<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e spread o<span class=\"_ _0\"></span>ver the contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> term.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-571": {
   "value": "<div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs1e3\"> <span class=\"_ _2\"></span>Significant accounting judgement<span class=\"_ _314\"> </span></div><div class=\"t m2 h15 ff73 fs2 fc1 sc0 ls6 ws7 gs1e4\">Supplier/<span class=\"_ _0\"></span>par<span class=\"_ _2\"></span>tner<span class=\"_ _0\"></span> discounts<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1e5\">The Group e<span class=\"_ _0\"></span>xercises judgement when<span class=\"_ _0\"></span> discount<span class=\"_ _2\"></span>s from<span class=\"_ _0\"></span> suppliers<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1e6\">and part<span class=\"_ _2\"></span>ners are<span class=\"_ _0\"></span> recognised. That is, whether discounts are<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1e7\">deduc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed as expenses arise or<span class=\"_ _0\"></span> spread over<span class=\"_ _0\"></span> the contrac<span class=\"_ _2\"></span>t term.<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1e8\">Cer<span class=\"_ _2\"></span>tain time- and value-<span class=\"_ _2\"></span>limited discounts in<span class=\"_ _0\"></span> relation to the 10<span class=\"_ _2\"></span>-year<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1e9\">str<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>egic par<span class=\"_ _2\"></span>tnership with Microsof<span class=\"_ _2\"></span>t ar<span class=\"_ _0\"></span>e deduc<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> as expenses<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1ea\">arise. In making this<span class=\"_ _0\"></span> asses<span class=\"_ _2\"></span>sment, management c<span class=\"_ _0\"></span>onsidered the<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1eb\">contrac<span class=\"_ _2\"></span>tual<span class=\"_ _0\"></span> perio<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> during which the Group has ac<span class=\"_ _0\"></span>cess to the<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1ec\">discounts and the nature<span class=\"_ _0\"></span> of any claw-back mechanisms in<span class=\"_ _0\"></span> place.<span class=\"_ _314\"> </span></div><table class=\"s w308 h233\" id=\"_1a40bb8c-2730-4411-942b-afa3eb04c36d\"><tr><td></td><td></td><td class=\"c n x5c6 y2198 w26f h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c7 y2198 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5c8 y2199 w309 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls39 ws0\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c9 y2199 w34 h234\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ca y2199 w244 h234\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2154 w30a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 ws9e\">Staf<span class=\"_ _2\"></span>f costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cb y2154 w30b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">4<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cc y2154 w30c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa3 wsce\">2<span class=\"_ _2\"></span>,41<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cd y2154 w30d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,3<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2155 w30e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">IT co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ce y2155 w30f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">675<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cf y2155 w2f6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb8 wse8\">648<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219a w310 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y services<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5d0 y219a w311 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls7b wse0\">371<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d1 y219a w312 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb8 wse8\">448<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2157 w313 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Shor<span class=\"_ _2\"></span>t-term<span class=\"_ _0\"></span> lease cost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5d2 y2157 w314 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d3 y2157 w315 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y219b ff71 fs129 fc1 sc0 ls76 ws5\">Fair value<span class=\"_ _0\"></span> gains on contingent </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y219c w316 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">consideration<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5d4 y219c w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d5 y219c w317 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">(21<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215a w318 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Other cost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5d6 y215a w178 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">362<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d7 y215a w319 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">360<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x5d8 y219d w31a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls7b wse0\">3,837<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d9 y219d w31b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">3,812<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w31c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Foreign ex<span class=\"_ _0\"></span>change gains<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5da y219e wa0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5db y219e w31d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y219f ff71 fs129 fc1 sc0 ls76 ws5\">Fair value<span class=\"_ _0\"></span> losses<span class=\"_ _2\"></span>/(gains<span class=\"_ _0\"></span>) on embedded </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21a0 w31e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5dc y21a0 w31f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">33<span class=\"_ _314\"> </span></div></td><td class=\"c n x5dd y21a0 w12e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w320 h235\"><div class=\"t m2 x1e4 h187 y20d1 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal operating e<span class=\"_ _0\"></span>xpenses before<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws7e\">depreciation, amortisation and impairment<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5de y2069 w321 h236\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">3,<span class=\"_ _2\"></span>869<span class=\"_ _314\"> </span></div></td><td class=\"c n x5df y2069 w322 h236\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls61 ws86\">3<span class=\"_ _2\"></span>,77<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr></table>4.1 Staf<span class=\"_ _2\"></span>f cos<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d empl<span class=\"_ _2\"></span>oyees<span class=\"_ _314\"> </span>This n<span class=\"_ _2\"></span>ote show<span class=\"_ _2\"></span>s amou<span class=\"_ _2\"></span>nts ea<span class=\"_ _2\"></span>rned by e<span class=\"_ _2\"></span>mploye<span class=\"_ _2\"></span>es, t<span class=\"_ _2\"></span>he ave<span class=\"_ _2\"></span>rage num<span class=\"_ _2\"></span>ber<span class=\"_ _314\"> </span> of emp<span class=\"_ _2\"></span>loyees d<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g the ye<span class=\"_ _2\"></span>ar and t<span class=\"_ _2\"></span>heir lo<span class=\"_ _2\"></span>cat<span class=\"_ _2\"></span>ion, a<span class=\"_ _2\"></span>nd amou<span class=\"_ _2\"></span>nts p<span class=\"_ _2\"></span>aid<span class=\"_ _314\"> </span> to \u201ckey man<span class=\"_ _2\"></span>ageme<span class=\"_ _2\"></span>nt per<span class=\"_ _2\"></span>sonne<span class=\"_ _2\"></span>l\u201d as def<span class=\"_ _2\"></span>ine<span class=\"_ _2\"></span>d by IAS 24 Relate<span class=\"_ _2\"></span>d Par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span> Dis<span class=\"_ _2\"></span>closure<span class=\"_ _2\"></span>s. The G<span class=\"_ _2\"></span>roup re<span class=\"_ _2\"></span>cogni<span class=\"_ _2\"></span>ses all D<span class=\"_ _2\"></span>irecto<span class=\"_ _2\"></span>rs an<span class=\"_ _2\"></span>d the E<span class=\"_ _2\"></span>xecut<span class=\"_ _2\"></span>ive<span class=\"_ _314\"> </span> Commit<span class=\"_ _2\"></span>tee<span class=\"_ _0\"></span> as it<span class=\"_ _2\"></span>s k<span class=\"_ _0\"></span>ey management personnel.<span class=\"_ _314\"> </span>Sta<span class=\"_ _2\"></span>ff cos<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span><table class=\"s w323 h237\" id=\"_3af82618-fe70-49bc-a888-ef362d93ca4e\"><tr><td></td><td></td><td class=\"c n x4e9 y21a1 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a1 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5e0 y21a2 w33 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e1 y21a2 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e2 y21a2 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a3 w324 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Salaries and other<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5e3 y21a3 w325 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws0\">2,<span class=\"_ _2\"></span>320<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e4 y21a3 w326 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,255<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w327 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Social securit<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5e5 y214a w328 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">230<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e6 y214a w329 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">215<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w32a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wsd6\">Pensio<span class=\"_ _2\"></span>n costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e7 y214b w32b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">12.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e8 y214b w32c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">120<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e9 y214b w32d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">100<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a4 w32e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Share-<span class=\"_ _2\"></span>based<span class=\"_ _0\"></span> payment expense<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ea y21a4 w14a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n x5eb y21a4 w32f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls72 ws9b\">176<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ec y21a4 w330 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w331 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> made to<span class=\"_ _0\"></span> employees<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ed y213e w332 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls75 ws9e\">2<span class=\"_ _2\"></span>,846<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ee y213e w333 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls61 ws86\">2,73<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w334 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Amounts capitalised as development<span class=\"_ _0\"></span> cost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ef y214f w335 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 wsbf\">(429<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f0 y214f w336 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">(368)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w337 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ota<span class=\"_ _2\"></span>l sta<span class=\"_ _2\"></span>ff co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5cc y2069 w30c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa3 wsce\">2<span class=\"_ _2\"></span>,41<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f1 y2069 w338 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,3<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td></tr></table>Compensation for<span class=\"_ _0\"></span> key ma<span class=\"_ _0\"></span>nagement personnel<span class=\"_ _314\"> </span><table class=\"s w339 h238\" id=\"_58288ba8-a901-49e6-a9f1-3bf1594f3545\"><tr><td></td><td class=\"c n x4e9 y21a5 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a5 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21a6 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21a6 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w324 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Salaries and other<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f2 y214c w33a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f3 y214c waf h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">21<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w32a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wsd6\">Pensio<span class=\"_ _2\"></span>n costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f4 y213e w55 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f5 y213e w2df h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w33b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Share-<span class=\"_ _2\"></span>based<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s</div><div class=\"t m2 x5f6 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ec y2068 w33c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">23<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f7 y2068 w33d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa1 wsda\">18<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w33e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>otal compensation<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f8 y2069 w33f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls72 ws9b\">42<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f9 y2069 w340 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsba wsea\">40<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>For 20<span class=\"_ _0\"></span>24,<span class=\"_ _0\"></span> the share-base<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> payment amounts have been<span class=\"_ _0\"></span> re-<span class=\"_ _2\"></span>presented<span class=\"_ _0\"></span> to align<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> the<span class=\"_ _314\"> </span> ex<span class=\"_ _2\"></span>pen<span class=\"_ _2\"></span>se rec<span class=\"_ _2\"></span>ogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d in t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>sol<span class=\"_ _2\"></span>ida<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e st<span class=\"_ _2\"></span>ate<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t and to b<span class=\"_ _2\"></span>e con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t wi<span class=\"_ _2\"></span>th 2025<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Details of Dir<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>tors\u2019<span class=\"_ _0\"></span> emolument<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e included in the Remuneration<span class=\"_ _314\"> </span> Rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t on pa<span class=\"_ _2\"></span>ges 82 to 1<span class=\"_ _2\"></span>03<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>Cost<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e recognised in the<span class=\"_ _0\"></span> income statement as incurred and<span class=\"_ _314\"> </span> measured after deduct<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> any time<span class=\"_ _2\"></span>- and<span class=\"_ _0\"></span> value<span class=\"_ _2\"></span>-limited discounts.<span class=\"_ _314\"> </span> Other discount<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e spread o<span class=\"_ _0\"></span>ver the contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> term.<span class=\"_ _314\"> </span>Average<span class=\"_ _0\"></span> number of employees<span class=\"_ _314\"> </span>The average number<span class=\"_ _0\"></span> of employees during the y<span class=\"_ _0\"></span>ear<span class=\"_ _0\"></span>, including Executi<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> Dir<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tors<span class=\"_ _2\"></span>, was a<span class=\"_ _2\"></span>s foll<span class=\"_ _2\"></span>ows:<span class=\"_ _314\"> </span><table class=\"s w358 h23c\" id=\"_5f6432d9-e96f-4b05-9093-afa48f0ad66f\"><tr><td></td><td class=\"c n x4c5 y21b4 w26f h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y21b4 w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w8f h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n x615 y2187 w359 h21c\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">4,941<span class=\"_ _314\"> </span></div></td><td class=\"c n x616 y2187 w35a h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">4<span class=\"_ _0\"></span>,900<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2188 w28e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n x617 y2188 w35b h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls21 ws8a\">3<span class=\"_ _2\"></span>,2<span class=\"_ _2\"></span>47<span class=\"_ _314\"> </span></div></td><td class=\"c n x618 y2188 w35c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">3,<span class=\"_ _2\"></span>235<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b5 w35d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">India<span class=\"_ _314\"> </span></div></td><td class=\"c n x619 y21b5 w35e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _2\"></span>8<span class=\"_ _1\"></span>1<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x61a y21b5 w35f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218b w291 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Euro<span class=\"_ _2\"></span>pe, exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x61b y218b w360 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">3,3<span class=\"_ _2\"></span>13<span class=\"_ _314\"> </span></div></td><td class=\"c n x61c y218b w361 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls91 wsbf\">3,1<span class=\"_ _2\"></span>99<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218c w362 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Philippines<span class=\"_ _314\"> </span></div></td><td class=\"c n x61d y218c w363 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">2,<span class=\"_ _2\"></span>223<span class=\"_ _314\"> </span></div></td><td class=\"c n x61e y218c w364 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>21<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b6 w365 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Sri Lanka<span class=\"_ _314\"> </span></div></td><td class=\"c n x61f y21b6 w366 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1,71<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n x620 y21b6 w367 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">1,7<span class=\"_ _2\"></span>20<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213c w368 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">China<span class=\"_ _314\"> </span></div></td><td class=\"c n x621 y213c w369 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>224<span class=\"_ _314\"> </span></div></td><td class=\"c n x622 y213c w36a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls71 ws9a\">1,<span class=\"_ _2\"></span>279<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w36b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Other A<span class=\"_ _2\"></span>si<span class=\"_ _0\"></span>a<span class=\"_ _314\"> </span></div></td><td class=\"c n x623 y213d w36c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls39 ws0\">2,0<span class=\"_ _2\"></span>09<span class=\"_ _314\"> </span></div></td><td class=\"c n x624 y213d w36d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">2,07<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w36e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Af<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>a and M<span class=\"_ _2\"></span>idd<span class=\"_ _2\"></span>le Eas<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x625 y20d9 w36f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">562<span class=\"_ _314\"> </span></div></td><td class=\"c n x626 y20d9 w77 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">589<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w303 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x627 y20da w370 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">653<span class=\"_ _314\"> </span></div></td><td class=\"c n x628 y20da w371 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w372 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">Average<span class=\"_ _0\"></span> number of employ<span class=\"_ _0\"></span>ees</div><div class=\"t m2 x629 h195 y2143 ff72 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x62a y2110 w373 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls83 wsb0\"><span><span class=\"gs38\" id=\"__138\">2 7, 6 9 5</span><span class=\"_ _314\"> </span></span></div></td><td class=\"c n x62b y2110 w374 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>0<span class=\"_ _1\"></span>3<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>Average employ<span class=\"_ _0\"></span>ee numbers represent<span class=\"_ _0\"></span> full<span class=\"_ _2\"></span>-time equivalent members of<span class=\"_ _0\"></span> staf<span class=\"_ _2\"></span>f.<span class=\"_ _0\"></span> They are calculated from<span class=\"_ _0\"></span> the date of<span class=\"_ _0\"></span> acquisition of subsidiary companies<span class=\"_ _0\"></span> purchased in<span class=\"_ _0\"></span> the year and up to t<span class=\"_ _2\"></span>he d<span class=\"_ _2\"></span>ate of d<span class=\"_ _2\"></span>isp<span class=\"_ _2\"></span>osa<span class=\"_ _2\"></span>l of bu<span class=\"_ _2\"></span>sin<span class=\"_ _2\"></span>ess<span class=\"_ _2\"></span>es so<span class=\"_ _2\"></span>ld in t<span class=\"_ _2\"></span>he ye<span class=\"_ _2\"></span>ar.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>otal number of employees At 31 December<span class=\"_ _0\"></span>, the number o<span class=\"_ _0\"></span>f employees, including Executive Dir<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tors<span class=\"_ _2\"></span>, was a<span class=\"_ _2\"></span>s foll<span class=\"_ _2\"></span>ows:<span class=\"_ _314\"> </span><table class=\"s w375 h23d\" id=\"_aa33b3c4-640b-4408-b8b3-74d2ad78bfe2\"><tr><td></td><td class=\"c n x4e9 y21b7 w31 h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21b7 w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21b8 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21b8 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b9 w8f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n x62c y21b9 w376 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls39 ws0\">5,0<span class=\"_ _2\"></span>43<span class=\"_ _314\"> </span></div></td><td class=\"c n x62d y21b9 w377 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">4,855<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2062 w28e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n x62e y2062 w378 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsaa wsd6\">3,218<span class=\"_ _314\"> </span></div></td><td class=\"c n x62f y2062 w379 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">3<span class=\"_ _2\"></span>,23<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2189 w35d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">India<span class=\"_ _314\"> </span></div></td><td class=\"c n x630 y2189 w37a h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">8,54<span class=\"_ _0\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x631 y2189 w37b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>3<span class=\"_ _1\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21ba w291 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Euro<span class=\"_ _2\"></span>pe, exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x632 y21ba w37c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">3,388<span class=\"_ _314\"> </span></div></td><td class=\"c n x633 y21ba w37d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">3<span class=\"_ _2\"></span>,28<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2073 w362 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Philippines<span class=\"_ _314\"> </span></div></td><td class=\"c n x634 y2073 w37e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">2,<span class=\"_ _2\"></span>225<span class=\"_ _314\"> </span></div></td><td class=\"c n x635 y2073 w37f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb9 wse9\">2<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>242<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w365 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Sri Lanka<span class=\"_ _314\"> </span></div></td><td class=\"c n x636 y214a w380 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,72<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x637 y214a w381 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>42<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w368 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">China<span class=\"_ _314\"> </span></div></td><td class=\"c n x638 y214b w2a2 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,222<span class=\"_ _314\"> </span></div></td><td class=\"c n x639 y214b w382 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>,222<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w36b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Other A<span class=\"_ _2\"></span>si<span class=\"_ _0\"></span>a<span class=\"_ _314\"> </span></div></td><td class=\"c n x63a y214c w383 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1,9<span class=\"_ _2\"></span>62<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f5 y214c w1c3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsba wsea\">2,<span class=\"_ _0\"></span>046<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w36e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Af<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>a and M<span class=\"_ _2\"></span>idd<span class=\"_ _2\"></span>le Eas<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x63b y213e w384 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">540<span class=\"_ _314\"> </span></div></td><td class=\"c n x63c y213e w385 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w303 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x627 y214f w23c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">656<span class=\"_ _314\"> </span></div></td><td class=\"c n x63d y214f w386 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">6<span class=\"_ _2\"></span>49<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w387 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws5\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> number of employ<span class=\"_ _0\"></span>ees<span class=\"_ _314\"> </span></div></td><td class=\"c n x63e y2069 w388 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">28,516<span class=\"_ _314\"> </span></div></td><td class=\"c n x63f y2069 w389 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">2<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr></table>4.<span class=\"_ _2\"></span>2 Audi<span class=\"_ _2\"></span>tors\u2019 fe<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span>O<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r cost<span class=\"_ _2\"></span>s in<span class=\"_ _2\"></span>clud<span class=\"_ _2\"></span>e fees p<span class=\"_ _2\"></span>aid or p<span class=\"_ _2\"></span>ayab<span class=\"_ _2\"></span>le to th<span class=\"_ _2\"></span>e Com<span class=\"_ _2\"></span>pany<span class=\"_ _2\"></span>\u2019s aud<span class=\"_ _2\"></span>itor<span class=\"_ _2\"></span>s and<span class=\"_ _2\"></span> are analysed below:<span class=\"_ _314\"> </span><table class=\"s w339 h23e\" id=\"_b119e271-8f4d-489b-b30a-3c06d7817864\"><tr><td></td><td class=\"c n x4e9 y21bb w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21bb w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21bc w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21bc w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y21bd ff71 fs129 fc1 sc0 ls89 wsda\">Audit of<span class=\"_ _0\"></span> parent and<span class=\"_ _0\"></span> consolidated </td><td></td><td></td></tr><tr><td class=\"c n x1eb y214c w38a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">financial statement<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x640 y214c w9f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td><td class=\"c n x641 y214c w38b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w38c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Audit of<span class=\"_ _0\"></span> subsidiar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> companies<span class=\"_ _314\"> </span></div></td><td class=\"c n x642 y213e w1d5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">11<span class=\"_ _314\"> </span></div></td><td class=\"c n x643 y213e wb8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w38d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6d wsd4\">Non<span class=\"_ _2\"></span>-audit ser<span class=\"_ _2\"></span>vices</div><div class=\"t m2 x644 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x645 y2068 w3e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x646 y2068 w2df h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w38e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal auditors<span class=\"_ _0\"></span>\u2019 fees<span class=\"_ _314\"> </span></div></td><td class=\"c n x647 y2069 w38f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n x648 y2069 wa0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">16<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>elo<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>te LL<span class=\"_ _2\"></span>P prov<span class=\"_ _2\"></span>id<span class=\"_ _2\"></span>ed no<span class=\"_ _2\"></span>n-<span class=\"_ _2\"></span>aud<span class=\"_ _2\"></span>it se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>es of \u00a3<span class=\"_ _2\"></span>1.<span class=\"_ _2\"></span>8 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n; 9% of t<span class=\"_ _2\"></span>ota<span class=\"_ _2\"></span>l fees (<span class=\"_ _2\"></span>2024: \u00a31<span class=\"_ _2\"></span>.1 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n; 7% of t<span class=\"_ _0\"></span>otal fees).<span class=\"_ _0\"></span> This comprised audit-related assurance<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> of \u00a30.5<span class=\"_ _0\"></span> million (202<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _0\"></span>0.5 million)<span class=\"_ _0\"></span> and other non-audit ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> of \u00a31.3 million (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a30.6 million)<span class=\"_ _0\"></span>. Fu<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>her d<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>ails o<span class=\"_ _2\"></span>f th<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices p<span class=\"_ _2\"></span>rov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by De<span class=\"_ _2\"></span>loi<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>e LLP a<span class=\"_ _2\"></span>re gi<span class=\"_ _2\"></span>ven in t<span class=\"_ _2\"></span>he Re<span class=\"_ _2\"></span>po<span class=\"_ _2\"></span>rt o<span class=\"_ _2\"></span>f the<span class=\"_ _2\"></span> Au<span class=\"_ _2\"></span>dit C<span class=\"_ _2\"></span>omm<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>tee o<span class=\"_ _2\"></span>n pa<span class=\"_ _2\"></span>ge 79.<span class=\"_ _2\"></span> ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfExpensesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-576": {
   "value": "<div class=\"t m2 h6 ff73 fs3 fc1 sc0 ls20 ws3 gs1ee\">4. Operating expens<span class=\"_ _0\"></span>es before de<span class=\"_ _0\"></span>preciation, a<span class=\"_ _0\"></span>mor<span class=\"_ _2\"></span>tisation and i<span class=\"_ _0\"></span>mpairment<span class=\"_ _314\"> </span></div>4.1 Staf<span class=\"_ _2\"></span>f cos<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d empl<span class=\"_ _2\"></span>oyees<span class=\"_ _314\"> </span>This n<span class=\"_ _2\"></span>ote show<span class=\"_ _2\"></span>s amou<span class=\"_ _2\"></span>nts ea<span class=\"_ _2\"></span>rned by e<span class=\"_ _2\"></span>mploye<span class=\"_ _2\"></span>es, t<span class=\"_ _2\"></span>he ave<span class=\"_ _2\"></span>rage num<span class=\"_ _2\"></span>ber<span class=\"_ _314\"> </span>of emp<span class=\"_ _2\"></span>loyees d<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g the ye<span class=\"_ _2\"></span>ar and t<span class=\"_ _2\"></span>heir lo<span class=\"_ _2\"></span>cat<span class=\"_ _2\"></span>ion, a<span class=\"_ _2\"></span>nd amou<span class=\"_ _2\"></span>nts p<span class=\"_ _2\"></span>aid<span class=\"_ _314\"> </span>to \u201ckey man<span class=\"_ _2\"></span>ageme<span class=\"_ _2\"></span>nt per<span class=\"_ _2\"></span>sonne<span class=\"_ _2\"></span>l\u201d as def<span class=\"_ _2\"></span>ine<span class=\"_ _2\"></span>d by IAS 24 Relate<span class=\"_ _2\"></span>d Par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span>Dis<span class=\"_ _2\"></span>closure<span class=\"_ _2\"></span>s. The G<span class=\"_ _2\"></span>roup re<span class=\"_ _2\"></span>cogni<span class=\"_ _2\"></span>ses all D<span class=\"_ _2\"></span>irecto<span class=\"_ _2\"></span>rs an<span class=\"_ _2\"></span>d the E<span class=\"_ _2\"></span>xecut<span class=\"_ _2\"></span>ive<span class=\"_ _314\"> </span>Commit<span class=\"_ _2\"></span>tee<span class=\"_ _0\"></span> as it<span class=\"_ _2\"></span>s k<span class=\"_ _0\"></span>ey management personnel.<span class=\"_ _314\"> </span>Sta<span class=\"_ _2\"></span>ff cos<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span><table class=\"s w323 h237\" id=\"_3af82618-fe70-49bc-a888-ef362d93ca4e\"><tr><td></td><td></td><td class=\"c n x4e9 y21a1 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a1 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5e0 y21a2 w33 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e1 y21a2 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e2 y21a2 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a3 w324 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Salaries and other<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5e3 y21a3 w325 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws0\">2,<span class=\"_ _2\"></span>320<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e4 y21a3 w326 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,255<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w327 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Social securit<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5e5 y214a w328 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">230<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e6 y214a w329 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">215<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w32a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wsd6\">Pensio<span class=\"_ _2\"></span>n costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e7 y214b w32b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">12.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e8 y214b w32c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">120<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e9 y214b w32d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">100<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a4 w32e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Share-<span class=\"_ _2\"></span>based<span class=\"_ _0\"></span> payment expense<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ea y21a4 w14a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n x5eb y21a4 w32f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls72 ws9b\">176<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ec y21a4 w330 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w331 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> made to<span class=\"_ _0\"></span> employees<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ed y213e w332 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls75 ws9e\">2<span class=\"_ _2\"></span>,846<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ee y213e w333 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls61 ws86\">2,73<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w334 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Amounts capitalised as development<span class=\"_ _0\"></span> cost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ef y214f w335 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 wsbf\">(429<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f0 y214f w336 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">(368)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w337 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ota<span class=\"_ _2\"></span>l sta<span class=\"_ _2\"></span>ff co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5cc y2069 w30c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa3 wsce\">2<span class=\"_ _2\"></span>,41<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f1 y2069 w338 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,3<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td></tr></table>Compensation for<span class=\"_ _0\"></span> key ma<span class=\"_ _0\"></span>nagement personnel<span class=\"_ _314\"> </span><table class=\"s w339 h238\" id=\"_58288ba8-a901-49e6-a9f1-3bf1594f3545\"><tr><td></td><td class=\"c n x4e9 y21a5 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a5 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21a6 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21a6 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w324 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Salaries and other<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f2 y214c w33a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f3 y214c waf h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">21<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w32a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wsd6\">Pensio<span class=\"_ _2\"></span>n costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f4 y213e w55 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f5 y213e w2df h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w33b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Share-<span class=\"_ _2\"></span>based<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s</div><div class=\"t m2 x5f6 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ec y2068 w33c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">23<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f7 y2068 w33d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa1 wsda\">18<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w33e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>otal compensation<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f8 y2069 w33f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls72 ws9b\">42<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f9 y2069 w340 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsba wsea\">40<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>For 20<span class=\"_ _0\"></span>24,<span class=\"_ _0\"></span> the share-base<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> payment amounts have been<span class=\"_ _0\"></span> re-<span class=\"_ _2\"></span>presented<span class=\"_ _0\"></span> to align<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> the<span class=\"_ _314\"> </span>ex<span class=\"_ _2\"></span>pen<span class=\"_ _2\"></span>se rec<span class=\"_ _2\"></span>ogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d in t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>sol<span class=\"_ _2\"></span>ida<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e st<span class=\"_ _2\"></span>ate<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t and to b<span class=\"_ _2\"></span>e con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t wi<span class=\"_ _2\"></span>th 2025<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Details of Dir<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>tors\u2019<span class=\"_ _0\"></span> emolument<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e included in the Remuneration<span class=\"_ _314\"> </span>Rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t on pa<span class=\"_ _2\"></span>ges 82 to 1<span class=\"_ _2\"></span>03<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>Cost<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e recognised in the<span class=\"_ _0\"></span> income statement as incurred and<span class=\"_ _314\"> </span>measured after deduct<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> any time<span class=\"_ _2\"></span>- and<span class=\"_ _0\"></span> value<span class=\"_ _2\"></span>-limited discounts.<span class=\"_ _314\"> </span>Other discount<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e spread o<span class=\"_ _0\"></span>ver the contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> term.<span class=\"_ _314\"> </span> <span class=\"_ _2\"></span>Significant accounting judgement<span class=\"_ _314\"> </span>Supplier/<span class=\"_ _0\"></span>par<span class=\"_ _2\"></span>tner<span class=\"_ _0\"></span> discounts<span class=\"_ _314\"> </span>The Group e<span class=\"_ _0\"></span>xercises judgement when<span class=\"_ _0\"></span> discount<span class=\"_ _2\"></span>s from<span class=\"_ _0\"></span> suppliers<span class=\"_ _314\"> </span>and part<span class=\"_ _2\"></span>ners are<span class=\"_ _0\"></span> recognised. That is, whether discounts are<span class=\"_ _314\"> </span>deduc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed as expenses arise or<span class=\"_ _0\"></span> spread over<span class=\"_ _0\"></span> the contrac<span class=\"_ _2\"></span>t term.<span class=\"_ _314\"> </span>Cer<span class=\"_ _2\"></span>tain time- and value-<span class=\"_ _2\"></span>limited discounts in<span class=\"_ _0\"></span> relation to the 10<span class=\"_ _2\"></span>-year<span class=\"_ _314\"> </span>str<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>egic par<span class=\"_ _2\"></span>tnership with Microsof<span class=\"_ _2\"></span>t ar<span class=\"_ _0\"></span>e deduc<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> as expenses<span class=\"_ _314\"> </span>arise. In making this<span class=\"_ _0\"></span> asses<span class=\"_ _2\"></span>sment, management c<span class=\"_ _0\"></span>onsidered the<span class=\"_ _314\"> </span>contrac<span class=\"_ _2\"></span>tual<span class=\"_ _0\"></span> perio<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> during which the Group has ac<span class=\"_ _0\"></span>cess to the<span class=\"_ _314\"> </span>discounts and the nature<span class=\"_ _0\"></span> of any claw-back mechanisms in<span class=\"_ _0\"></span> place.<span class=\"_ _314\"> </span>Op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ing ex<span class=\"_ _2\"></span>penses m<span class=\"_ _2\"></span>ainl<span class=\"_ _2\"></span>y relate to s<span class=\"_ _2\"></span>taf<span class=\"_ _2\"></span>f cost<span class=\"_ _2\"></span>s, IT c<span class=\"_ _2\"></span>osts a<span class=\"_ _2\"></span>nd thi<span class=\"_ _2\"></span>rd-<span class=\"_ _2\"></span>par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span>ser<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ces. Th<span class=\"_ _2\"></span>is note pr<span class=\"_ _2\"></span>ovides a b<span class=\"_ _2\"></span>reakdo<span class=\"_ _2\"></span>wn of our o<span class=\"_ _2\"></span>pera<span class=\"_ _2\"></span>ting e<span class=\"_ _2\"></span>xpen<span class=\"_ _2\"></span>ses as<span class=\"_ _314\"> </span>wel<span class=\"_ _2\"></span>l as provi<span class=\"_ _2\"></span>ding f<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>ther d<span class=\"_ _2\"></span>etail o<span class=\"_ _2\"></span>n our hea<span class=\"_ _2\"></span>dcoun<span class=\"_ _2\"></span>t and fee<span class=\"_ _2\"></span>s to audi<span class=\"_ _2\"></span>tors<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span><table class=\"s w308 h233\" id=\"_1a40bb8c-2730-4411-942b-afa3eb04c36d\"><tr><td></td><td></td><td class=\"c n x5c6 y2198 w26f h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c7 y2198 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5c8 y2199 w309 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls39 ws0\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c9 y2199 w34 h234\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ca y2199 w244 h234\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2154 w30a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 ws9e\">Staf<span class=\"_ _2\"></span>f costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cb y2154 w30b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">4<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cc y2154 w30c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa3 wsce\">2<span class=\"_ _2\"></span>,41<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cd y2154 w30d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,3<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2155 w30e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">IT co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ce y2155 w30f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">675<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cf y2155 w2f6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb8 wse8\">648<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219a w310 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y services<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5d0 y219a w311 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls7b wse0\">371<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d1 y219a w312 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb8 wse8\">448<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2157 w313 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Shor<span class=\"_ _2\"></span>t-term<span class=\"_ _0\"></span> lease cost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5d2 y2157 w314 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d3 y2157 w315 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y219b ff71 fs129 fc1 sc0 ls76 ws5\">Fair value<span class=\"_ _0\"></span> gains on contingent </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y219c w316 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">consideration<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5d4 y219c w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d5 y219c w317 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">(21<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215a w318 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Other cost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5d6 y215a w178 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">362<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d7 y215a w319 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">360<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x5d8 y219d w31a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls7b wse0\">3,837<span class=\"_ _314\"> </span></div></td><td class=\"c n x5d9 y219d w31b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">3,812<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w31c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Foreign ex<span class=\"_ _0\"></span>change gains<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5da y219e wa0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5db y219e w31d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y219f ff71 fs129 fc1 sc0 ls76 ws5\">Fair value<span class=\"_ _0\"></span> losses<span class=\"_ _2\"></span>/(gains<span class=\"_ _0\"></span>) on embedded </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21a0 w31e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5dc y21a0 w31f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">33<span class=\"_ _314\"> </span></div></td><td class=\"c n x5dd y21a0 w12e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w320 h235\"><div class=\"t m2 x1e4 h187 y20d1 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal operating e<span class=\"_ _0\"></span>xpenses before<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws7e\">depreciation, amortisation and impairment<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5de y2069 w321 h236\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">3,<span class=\"_ _2\"></span>869<span class=\"_ _314\"> </span></div></td><td class=\"c n x5df y2069 w322 h236\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls61 ws86\">3<span class=\"_ _2\"></span>,77<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr></table>Average<span class=\"_ _0\"></span> number of employees<span class=\"_ _314\"> </span>The average number<span class=\"_ _0\"></span> of employees during the y<span class=\"_ _0\"></span>ear<span class=\"_ _0\"></span>, including Executi<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> Dir<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tors<span class=\"_ _2\"></span>, was a<span class=\"_ _2\"></span>s foll<span class=\"_ _2\"></span>ows:<span class=\"_ _314\"> </span><table class=\"s w358 h23c\" id=\"_5f6432d9-e96f-4b05-9093-afa48f0ad66f\"><tr><td></td><td class=\"c n x4c5 y21b4 w26f h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y21b4 w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w8f h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n x615 y2187 w359 h21c\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">4,941<span class=\"_ _314\"> </span></div></td><td class=\"c n x616 y2187 w35a h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">4<span class=\"_ _0\"></span>,900<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2188 w28e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n x617 y2188 w35b h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls21 ws8a\">3<span class=\"_ _2\"></span>,2<span class=\"_ _2\"></span>47<span class=\"_ _314\"> </span></div></td><td class=\"c n x618 y2188 w35c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">3,<span class=\"_ _2\"></span>235<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b5 w35d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">India<span class=\"_ _314\"> </span></div></td><td class=\"c n x619 y21b5 w35e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _2\"></span>8<span class=\"_ _1\"></span>1<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x61a y21b5 w35f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218b w291 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Euro<span class=\"_ _2\"></span>pe, exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x61b y218b w360 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">3,3<span class=\"_ _2\"></span>13<span class=\"_ _314\"> </span></div></td><td class=\"c n x61c y218b w361 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls91 wsbf\">3,1<span class=\"_ _2\"></span>99<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218c w362 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Philippines<span class=\"_ _314\"> </span></div></td><td class=\"c n x61d y218c w363 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">2,<span class=\"_ _2\"></span>223<span class=\"_ _314\"> </span></div></td><td class=\"c n x61e y218c w364 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>21<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b6 w365 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Sri Lanka<span class=\"_ _314\"> </span></div></td><td class=\"c n x61f y21b6 w366 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1,71<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n x620 y21b6 w367 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">1,7<span class=\"_ _2\"></span>20<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213c w368 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">China<span class=\"_ _314\"> </span></div></td><td class=\"c n x621 y213c w369 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>224<span class=\"_ _314\"> </span></div></td><td class=\"c n x622 y213c w36a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls71 ws9a\">1,<span class=\"_ _2\"></span>279<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w36b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Other A<span class=\"_ _2\"></span>si<span class=\"_ _0\"></span>a<span class=\"_ _314\"> </span></div></td><td class=\"c n x623 y213d w36c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls39 ws0\">2,0<span class=\"_ _2\"></span>09<span class=\"_ _314\"> </span></div></td><td class=\"c n x624 y213d w36d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">2,07<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w36e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Af<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>a and M<span class=\"_ _2\"></span>idd<span class=\"_ _2\"></span>le Eas<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x625 y20d9 w36f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">562<span class=\"_ _314\"> </span></div></td><td class=\"c n x626 y20d9 w77 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">589<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w303 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x627 y20da w370 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">653<span class=\"_ _314\"> </span></div></td><td class=\"c n x628 y20da w371 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w372 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">Average<span class=\"_ _0\"></span> number of employ<span class=\"_ _0\"></span>ees</div><div class=\"t m2 x629 h195 y2143 ff72 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x62a y2110 w373 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls83 wsb0\"><span><span class=\"gs38\" id=\"__138\">2 7, 6 9 5</span><span class=\"_ _314\"> </span></span></div></td><td class=\"c n x62b y2110 w374 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>0<span class=\"_ _1\"></span>3<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>Average employ<span class=\"_ _0\"></span>ee numbers represent<span class=\"_ _0\"></span> full<span class=\"_ _2\"></span>-time equivalent members of<span class=\"_ _0\"></span> staf<span class=\"_ _2\"></span>f.<span class=\"_ _0\"></span> They are calculated from<span class=\"_ _0\"></span> the date of<span class=\"_ _0\"></span> acquisition of subsidiary companies<span class=\"_ _0\"></span> purchased in<span class=\"_ _0\"></span> the year and up to t<span class=\"_ _2\"></span>he d<span class=\"_ _2\"></span>ate of d<span class=\"_ _2\"></span>isp<span class=\"_ _2\"></span>osa<span class=\"_ _2\"></span>l of bu<span class=\"_ _2\"></span>sin<span class=\"_ _2\"></span>ess<span class=\"_ _2\"></span>es so<span class=\"_ _2\"></span>ld in t<span class=\"_ _2\"></span>he ye<span class=\"_ _2\"></span>ar.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>otal number of employees At 31 December<span class=\"_ _0\"></span>, the number o<span class=\"_ _0\"></span>f employees, including Executive Dir<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tors<span class=\"_ _2\"></span>, was a<span class=\"_ _2\"></span>s foll<span class=\"_ _2\"></span>ows:<span class=\"_ _314\"> </span><table class=\"s w375 h23d\" id=\"_aa33b3c4-640b-4408-b8b3-74d2ad78bfe2\"><tr><td></td><td class=\"c n x4e9 y21b7 w31 h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21b7 w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21b8 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21b8 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b9 w8f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n x62c y21b9 w376 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls39 ws0\">5,0<span class=\"_ _2\"></span>43<span class=\"_ _314\"> </span></div></td><td class=\"c n x62d y21b9 w377 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">4,855<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2062 w28e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n x62e y2062 w378 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsaa wsd6\">3,218<span class=\"_ _314\"> </span></div></td><td class=\"c n x62f y2062 w379 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">3<span class=\"_ _2\"></span>,23<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2189 w35d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">India<span class=\"_ _314\"> </span></div></td><td class=\"c n x630 y2189 w37a h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">8,54<span class=\"_ _0\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x631 y2189 w37b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>3<span class=\"_ _1\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21ba w291 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Euro<span class=\"_ _2\"></span>pe, exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x632 y21ba w37c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">3,388<span class=\"_ _314\"> </span></div></td><td class=\"c n x633 y21ba w37d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">3<span class=\"_ _2\"></span>,28<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2073 w362 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Philippines<span class=\"_ _314\"> </span></div></td><td class=\"c n x634 y2073 w37e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">2,<span class=\"_ _2\"></span>225<span class=\"_ _314\"> </span></div></td><td class=\"c n x635 y2073 w37f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb9 wse9\">2<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>242<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w365 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Sri Lanka<span class=\"_ _314\"> </span></div></td><td class=\"c n x636 y214a w380 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,72<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x637 y214a w381 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>42<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w368 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">China<span class=\"_ _314\"> </span></div></td><td class=\"c n x638 y214b w2a2 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,222<span class=\"_ _314\"> </span></div></td><td class=\"c n x639 y214b w382 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>,222<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w36b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Other A<span class=\"_ _2\"></span>si<span class=\"_ _0\"></span>a<span class=\"_ _314\"> </span></div></td><td class=\"c n x63a y214c w383 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1,9<span class=\"_ _2\"></span>62<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f5 y214c w1c3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsba wsea\">2,<span class=\"_ _0\"></span>046<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w36e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Af<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>a and M<span class=\"_ _2\"></span>idd<span class=\"_ _2\"></span>le Eas<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x63b y213e w384 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">540<span class=\"_ _314\"> </span></div></td><td class=\"c n x63c y213e w385 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w303 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x627 y214f w23c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">656<span class=\"_ _314\"> </span></div></td><td class=\"c n x63d y214f w386 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">6<span class=\"_ _2\"></span>49<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w387 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws5\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> number of employ<span class=\"_ _0\"></span>ees<span class=\"_ _314\"> </span></div></td><td class=\"c n x63e y2069 w388 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">28,516<span class=\"_ _314\"> </span></div></td><td class=\"c n x63f y2069 w389 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">2<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr></table>4.<span class=\"_ _2\"></span>2 Audi<span class=\"_ _2\"></span>tors\u2019 fe<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span>O<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r cost<span class=\"_ _2\"></span>s in<span class=\"_ _2\"></span>clud<span class=\"_ _2\"></span>e fees p<span class=\"_ _2\"></span>aid or p<span class=\"_ _2\"></span>ayab<span class=\"_ _2\"></span>le to th<span class=\"_ _2\"></span>e Com<span class=\"_ _2\"></span>pany<span class=\"_ _2\"></span>\u2019s aud<span class=\"_ _2\"></span>itor<span class=\"_ _2\"></span>s and<span class=\"_ _2\"></span> are analysed below:<span class=\"_ _314\"> </span><table class=\"s w339 h23e\" id=\"_b119e271-8f4d-489b-b30a-3c06d7817864\"><tr><td></td><td class=\"c n x4e9 y21bb w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21bb w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21bc w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21bc w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y21bd ff71 fs129 fc1 sc0 ls89 wsda\">Audit of<span class=\"_ _0\"></span> parent and<span class=\"_ _0\"></span> consolidated </td><td></td><td></td></tr><tr><td class=\"c n x1eb y214c w38a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">financial statement<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x640 y214c w9f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td><td class=\"c n x641 y214c w38b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w38c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Audit of<span class=\"_ _0\"></span> subsidiar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> companies<span class=\"_ _314\"> </span></div></td><td class=\"c n x642 y213e w1d5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">11<span class=\"_ _314\"> </span></div></td><td class=\"c n x643 y213e wb8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w38d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6d wsd4\">Non<span class=\"_ _2\"></span>-audit ser<span class=\"_ _2\"></span>vices</div><div class=\"t m2 x644 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x645 y2068 w3e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x646 y2068 w2df h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w38e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal auditors<span class=\"_ _0\"></span>\u2019 fees<span class=\"_ _314\"> </span></div></td><td class=\"c n x647 y2069 w38f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n x648 y2069 wa0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">16<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>elo<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>te LL<span class=\"_ _2\"></span>P prov<span class=\"_ _2\"></span>id<span class=\"_ _2\"></span>ed no<span class=\"_ _2\"></span>n-<span class=\"_ _2\"></span>aud<span class=\"_ _2\"></span>it se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>es of \u00a3<span class=\"_ _2\"></span>1.<span class=\"_ _2\"></span>8 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n; 9% of t<span class=\"_ _2\"></span>ota<span class=\"_ _2\"></span>l fees (<span class=\"_ _2\"></span>2024: \u00a31<span class=\"_ _2\"></span>.1 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n; 7% of t<span class=\"_ _0\"></span>otal fees).<span class=\"_ _0\"></span> This comprised audit-related assurance<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> of \u00a30.5<span class=\"_ _0\"></span> million (202<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _0\"></span>0.5 million)<span class=\"_ _0\"></span> and other non-audit ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> of \u00a31.3 million (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a30.6 million)<span class=\"_ _0\"></span>. Fu<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>her d<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>ails o<span class=\"_ _2\"></span>f th<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices p<span class=\"_ _2\"></span>rov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by De<span class=\"_ _2\"></span>loi<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>e LLP a<span class=\"_ _2\"></span>re gi<span class=\"_ _2\"></span>ven in t<span class=\"_ _2\"></span>he Re<span class=\"_ _2\"></span>po<span class=\"_ _2\"></span>rt o<span class=\"_ _2\"></span>f the<span class=\"_ _2\"></span> Au<span class=\"_ _2\"></span>dit C<span class=\"_ _2\"></span>omm<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>tee o<span class=\"_ _2\"></span>n pa<span class=\"_ _2\"></span>ge 79.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-557": {
   "value": "<div class=\"t m2 h4 ff72 fs1 fc2 sc0 ls22 ws3 gs1f0\">4.1 Staf<span class=\"_ _2\"></span>f cos<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d empl<span class=\"_ _2\"></span>oyees<span class=\"_ _314\"> </span></div><div class=\"t m2 h1dc ff74 fs2 fc1 sc0 ls3 ws3 gs1f1\">This n<span class=\"_ _2\"></span>ote show<span class=\"_ _2\"></span>s amou<span class=\"_ _2\"></span>nts ea<span class=\"_ _2\"></span>rned by e<span class=\"_ _2\"></span>mploye<span class=\"_ _2\"></span>es, t<span class=\"_ _2\"></span>he ave<span class=\"_ _2\"></span>rage num<span class=\"_ _2\"></span>ber<span class=\"_ _314\"> </span> </div><div class=\"t m2 h1dc ff74 fs2 fc1 sc0 ls3 ws3 gs1f2\">of emp<span class=\"_ _2\"></span>loyees d<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g the ye<span class=\"_ _2\"></span>ar and t<span class=\"_ _2\"></span>heir lo<span class=\"_ _2\"></span>cat<span class=\"_ _2\"></span>ion, a<span class=\"_ _2\"></span>nd amou<span class=\"_ _2\"></span>nts p<span class=\"_ _2\"></span>aid<span class=\"_ _314\"> </span> </div><div class=\"t m2 h1dc ff74 fs2 fc1 sc0 ls3 ws3 gs1f3\">to \u201ckey man<span class=\"_ _2\"></span>ageme<span class=\"_ _2\"></span>nt per<span class=\"_ _2\"></span>sonne<span class=\"_ _2\"></span>l\u201d as def<span class=\"_ _2\"></span>ine<span class=\"_ _2\"></span>d by IAS 24 Relate<span class=\"_ _2\"></span>d Par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span> </div><div class=\"t m2 h1dc ff74 fs2 fc1 sc0 ls3 ws3 gs1f4\">Dis<span class=\"_ _2\"></span>closure<span class=\"_ _2\"></span>s. The G<span class=\"_ _2\"></span>roup re<span class=\"_ _2\"></span>cogni<span class=\"_ _2\"></span>ses all D<span class=\"_ _2\"></span>irecto<span class=\"_ _2\"></span>rs an<span class=\"_ _2\"></span>d the E<span class=\"_ _2\"></span>xecut<span class=\"_ _2\"></span>ive<span class=\"_ _314\"> </span> </div><div class=\"t m2 h1dc ff74 fs2 fc1 sc0 ls4 ws80 gs1f5\">Commit<span class=\"_ _2\"></span>tee<span class=\"_ _0\"></span> as it<span class=\"_ _2\"></span>s k<span class=\"_ _0\"></span>ey management personnel.<span class=\"_ _314\"> </span></div><div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls22 ws3 gs1f6\">Sta<span class=\"_ _2\"></span>ff cos<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div><div class=\"gs1f7\"><table class=\"s w323 h237\" id=\"_3af82618-fe70-49bc-a888-ef362d93ca4e\"><tr><td></td><td></td><td class=\"c n x4e9 y21a1 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a1 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5e0 y21a2 w33 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e1 y21a2 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e2 y21a2 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a3 w324 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Salaries and other<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5e3 y21a3 w325 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws0\">2,<span class=\"_ _2\"></span>320<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e4 y21a3 w326 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,255<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w327 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Social securit<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5e5 y214a w328 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">230<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e6 y214a w329 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">215<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w32a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wsd6\">Pensio<span class=\"_ _2\"></span>n costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e7 y214b w32b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">12.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e8 y214b w32c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">120<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e9 y214b w32d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">100<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a4 w32e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Share-<span class=\"_ _2\"></span>based<span class=\"_ _0\"></span> payment expense<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ea y21a4 w14a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n x5eb y21a4 w32f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls72 ws9b\">176<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ec y21a4 w330 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w331 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> made to<span class=\"_ _0\"></span> employees<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ed y213e w332 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls75 ws9e\">2<span class=\"_ _2\"></span>,846<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ee y213e w333 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls61 ws86\">2,73<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w334 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Amounts capitalised as development<span class=\"_ _0\"></span> cost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ef y214f w335 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 wsbf\">(429<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f0 y214f w336 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">(368)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w337 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ota<span class=\"_ _2\"></span>l sta<span class=\"_ _2\"></span>ff co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5cc y2069 w30c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa3 wsce\">2<span class=\"_ _2\"></span>,41<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f1 y2069 w338 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,3<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls49 ws64 gs1f8\">Compensation for<span class=\"_ _0\"></span> key ma<span class=\"_ _0\"></span>nagement personnel<span class=\"_ _314\"> </span></div><div class=\"gs1f9\"><table class=\"s w339 h238\" id=\"_58288ba8-a901-49e6-a9f1-3bf1594f3545\"><tr><td></td><td class=\"c n x4e9 y21a5 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a5 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21a6 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21a6 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w324 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Salaries and other<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f2 y214c w33a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f3 y214c waf h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">21<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w32a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wsd6\">Pensio<span class=\"_ _2\"></span>n costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f4 y213e w55 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f5 y213e w2df h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w33b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Share-<span class=\"_ _2\"></span>based<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s</div><div class=\"t m2 x5f6 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ec y2068 w33c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">23<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f7 y2068 w33d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa1 wsda\">18<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w33e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>otal compensation<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f8 y2069 w33f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls72 ws9b\">42<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f9 y2069 w340 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsba wsea\">40<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m2 hc ff71 fs7 fc1 sc0 ls7 ws48 gs1fa\">1 <span class=\"_ _c\"> </span>For 20<span class=\"_ _0\"></span>24,<span class=\"_ _0\"></span> the share-base<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> payment amounts have been<span class=\"_ _0\"></span> re-<span class=\"_ _2\"></span>presented<span class=\"_ _0\"></span> to align<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> the<span class=\"_ _314\"> </span> </div><div class=\"t m2 hc ff71 fs7 fc1 sc0 lsb ws3 gs1fb\">ex<span class=\"_ _2\"></span>pen<span class=\"_ _2\"></span>se rec<span class=\"_ _2\"></span>ogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d in t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>sol<span class=\"_ _2\"></span>ida<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e st<span class=\"_ _2\"></span>ate<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t and to b<span class=\"_ _2\"></span>e con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t wi<span class=\"_ _2\"></span>th 2025<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs1fc\">Details of Dir<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>tors\u2019<span class=\"_ _0\"></span> emolument<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e included in the Remuneration<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs1fd\">Rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t on pa<span class=\"_ _2\"></span>ges 82 to 1<span class=\"_ _2\"></span>03<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs20e\">Average<span class=\"_ _0\"></span> number of employees<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs20f\">The average number<span class=\"_ _0\"></span> of employees during the y<span class=\"_ _0\"></span>ear<span class=\"_ _0\"></span>, including Executi<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs210\">Dir<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tors<span class=\"_ _2\"></span>, was a<span class=\"_ _2\"></span>s foll<span class=\"_ _2\"></span>ows:<span class=\"_ _314\"> </span></div><div class=\"gs211\"><table class=\"s w358 h23c\" id=\"_5f6432d9-e96f-4b05-9093-afa48f0ad66f\"><tr><td></td><td class=\"c n x4c5 y21b4 w26f h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y21b4 w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w8f h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n x615 y2187 w359 h21c\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">4,941<span class=\"_ _314\"> </span></div></td><td class=\"c n x616 y2187 w35a h21c\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">4<span class=\"_ _0\"></span>,900<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2188 w28e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n x617 y2188 w35b h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls21 ws8a\">3<span class=\"_ _2\"></span>,2<span class=\"_ _2\"></span>47<span class=\"_ _314\"> </span></div></td><td class=\"c n x618 y2188 w35c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">3,<span class=\"_ _2\"></span>235<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b5 w35d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">India<span class=\"_ _314\"> </span></div></td><td class=\"c n x619 y21b5 w35e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _2\"></span>8<span class=\"_ _1\"></span>1<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x61a y21b5 w35f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>6<span class=\"_ _1\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218b w291 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Euro<span class=\"_ _2\"></span>pe, exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x61b y218b w360 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">3,3<span class=\"_ _2\"></span>13<span class=\"_ _314\"> </span></div></td><td class=\"c n x61c y218b w361 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls91 wsbf\">3,1<span class=\"_ _2\"></span>99<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218c w362 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Philippines<span class=\"_ _314\"> </span></div></td><td class=\"c n x61d y218c w363 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">2,<span class=\"_ _2\"></span>223<span class=\"_ _314\"> </span></div></td><td class=\"c n x61e y218c w364 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>21<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b6 w365 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Sri Lanka<span class=\"_ _314\"> </span></div></td><td class=\"c n x61f y21b6 w366 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1,71<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n x620 y21b6 w367 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">1,7<span class=\"_ _2\"></span>20<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213c w368 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">China<span class=\"_ _314\"> </span></div></td><td class=\"c n x621 y213c w369 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>224<span class=\"_ _314\"> </span></div></td><td class=\"c n x622 y213c w36a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls71 ws9a\">1,<span class=\"_ _2\"></span>279<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w36b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Other A<span class=\"_ _2\"></span>si<span class=\"_ _0\"></span>a<span class=\"_ _314\"> </span></div></td><td class=\"c n x623 y213d w36c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls39 ws0\">2,0<span class=\"_ _2\"></span>09<span class=\"_ _314\"> </span></div></td><td class=\"c n x624 y213d w36d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">2,07<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w36e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Af<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>a and M<span class=\"_ _2\"></span>idd<span class=\"_ _2\"></span>le Eas<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x625 y20d9 w36f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">562<span class=\"_ _314\"> </span></div></td><td class=\"c n x626 y20d9 w77 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">589<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w303 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x627 y20da w370 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">653<span class=\"_ _314\"> </span></div></td><td class=\"c n x628 y20da w371 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w372 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">Average<span class=\"_ _0\"></span> number of employ<span class=\"_ _0\"></span>ees</div><div class=\"t m2 x629 h195 y2143 ff72 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x62a y2110 w373 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls83 wsb0\"><span><span class=\"gs38\" id=\"__138\">2 7, 6 9 5</span><span class=\"_ _314\"> </span></span></div></td><td class=\"c n x62b y2110 w374 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>0<span class=\"_ _1\"></span>3<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m2 hc ff71 fs7 fc1 sc0 ls7 ws48 gs212\">1 <span class=\"_ _c\"> </span>Average employ<span class=\"_ _0\"></span>ee numbers represent<span class=\"_ _0\"></span> full<span class=\"_ _2\"></span>-time equivalent members of<span class=\"_ _0\"></span> staf<span class=\"_ _2\"></span>f.<span class=\"_ _0\"></span> They are </div><div class=\"t m2 hc ff71 fs7 fc1 sc0 ls7 ws48 gs213\">calculated from<span class=\"_ _0\"></span> the date of<span class=\"_ _0\"></span> acquisition of subsidiary companies<span class=\"_ _0\"></span> purchased in<span class=\"_ _0\"></span> the year and </div><div class=\"t m2 hc ff71 fs7 fc1 sc0 lsb ws3 gs214\">up to t<span class=\"_ _2\"></span>he d<span class=\"_ _2\"></span>ate of d<span class=\"_ _2\"></span>isp<span class=\"_ _2\"></span>osa<span class=\"_ _2\"></span>l of bu<span class=\"_ _2\"></span>sin<span class=\"_ _2\"></span>ess<span class=\"_ _2\"></span>es so<span class=\"_ _2\"></span>ld in t<span class=\"_ _2\"></span>he ye<span class=\"_ _2\"></span>ar.<span class=\"_ _314\"> </span></div><div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs215\">T<span class=\"_ _3\"></span>otal number of employees </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs216\">At 31 December<span class=\"_ _0\"></span>, the number o<span class=\"_ _0\"></span>f employees, including Executive </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs217\">Dir<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tors<span class=\"_ _2\"></span>, was a<span class=\"_ _2\"></span>s foll<span class=\"_ _2\"></span>ows:<span class=\"_ _314\"> </span></div><div class=\"gs1d2\"><table class=\"s w375 h23d\" id=\"_aa33b3c4-640b-4408-b8b3-74d2ad78bfe2\"><tr><td></td><td class=\"c n x4e9 y21b7 w31 h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21b7 w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21b8 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21b8 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b9 w8f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n x62c y21b9 w376 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls39 ws0\">5,0<span class=\"_ _2\"></span>43<span class=\"_ _314\"> </span></div></td><td class=\"c n x62d y21b9 w377 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">4,855<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2062 w28e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n x62e y2062 w378 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsaa wsd6\">3,218<span class=\"_ _314\"> </span></div></td><td class=\"c n x62f y2062 w379 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">3<span class=\"_ _2\"></span>,23<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2189 w35d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">India<span class=\"_ _314\"> </span></div></td><td class=\"c n x630 y2189 w37a h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">8,54<span class=\"_ _0\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x631 y2189 w37b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>3<span class=\"_ _1\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21ba w291 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Euro<span class=\"_ _2\"></span>pe, exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>ing U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x632 y21ba w37c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">3,388<span class=\"_ _314\"> </span></div></td><td class=\"c n x633 y21ba w37d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">3<span class=\"_ _2\"></span>,28<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2073 w362 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">Philippines<span class=\"_ _314\"> </span></div></td><td class=\"c n x634 y2073 w37e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">2,<span class=\"_ _2\"></span>225<span class=\"_ _314\"> </span></div></td><td class=\"c n x635 y2073 w37f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb9 wse9\">2<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>242<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w365 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Sri Lanka<span class=\"_ _314\"> </span></div></td><td class=\"c n x636 y214a w380 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,72<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x637 y214a w381 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>42<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w368 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">China<span class=\"_ _314\"> </span></div></td><td class=\"c n x638 y214b w2a2 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,222<span class=\"_ _314\"> </span></div></td><td class=\"c n x639 y214b w382 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>,222<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w36b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Other A<span class=\"_ _2\"></span>si<span class=\"_ _0\"></span>a<span class=\"_ _314\"> </span></div></td><td class=\"c n x63a y214c w383 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">1,9<span class=\"_ _2\"></span>62<span class=\"_ _314\"> </span></div></td><td class=\"c n x4f5 y214c w1c3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsba wsea\">2,<span class=\"_ _0\"></span>046<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w36e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Af<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>a and M<span class=\"_ _2\"></span>idd<span class=\"_ _2\"></span>le Eas<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x63b y213e w384 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">540<span class=\"_ _314\"> </span></div></td><td class=\"c n x63c y213e w385 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w303 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x627 y214f w23c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">656<span class=\"_ _314\"> </span></div></td><td class=\"c n x63d y214f w386 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">6<span class=\"_ _2\"></span>49<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w387 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws5\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> number of employ<span class=\"_ _0\"></span>ees<span class=\"_ _314\"> </span></div></td><td class=\"c n x63e y2069 w388 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">28,516<span class=\"_ _314\"> </span></div></td><td class=\"c n x63f y2069 w389 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsae wsd8\">2<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInformationAboutEmployeesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-523": {
   "value": "4.1 Staf<span class=\"_ _2\"></span>f cos<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d empl<span class=\"_ _2\"></span>oyees<span class=\"_ _314\"> </span>This n<span class=\"_ _2\"></span>ote show<span class=\"_ _2\"></span>s amou<span class=\"_ _2\"></span>nts ea<span class=\"_ _2\"></span>rned by e<span class=\"_ _2\"></span>mploye<span class=\"_ _2\"></span>es, t<span class=\"_ _2\"></span>he ave<span class=\"_ _2\"></span>rage num<span class=\"_ _2\"></span>ber<span class=\"_ _314\"> </span> of emp<span class=\"_ _2\"></span>loyees d<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g the ye<span class=\"_ _2\"></span>ar and t<span class=\"_ _2\"></span>heir lo<span class=\"_ _2\"></span>cat<span class=\"_ _2\"></span>ion, a<span class=\"_ _2\"></span>nd amou<span class=\"_ _2\"></span>nts p<span class=\"_ _2\"></span>aid<span class=\"_ _314\"> </span> to \u201ckey man<span class=\"_ _2\"></span>ageme<span class=\"_ _2\"></span>nt per<span class=\"_ _2\"></span>sonne<span class=\"_ _2\"></span>l\u201d as def<span class=\"_ _2\"></span>ine<span class=\"_ _2\"></span>d by IAS 24 Relate<span class=\"_ _2\"></span>d Par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span> Dis<span class=\"_ _2\"></span>closure<span class=\"_ _2\"></span>s. The G<span class=\"_ _2\"></span>roup re<span class=\"_ _2\"></span>cogni<span class=\"_ _2\"></span>ses all D<span class=\"_ _2\"></span>irecto<span class=\"_ _2\"></span>rs an<span class=\"_ _2\"></span>d the E<span class=\"_ _2\"></span>xecut<span class=\"_ _2\"></span>ive<span class=\"_ _314\"> </span> Commit<span class=\"_ _2\"></span>tee<span class=\"_ _0\"></span> as it<span class=\"_ _2\"></span>s k<span class=\"_ _0\"></span>ey management personnel.<span class=\"_ _314\"> </span>Sta<span class=\"_ _2\"></span>ff cos<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span><table class=\"s w323 h237\" id=\"_3af82618-fe70-49bc-a888-ef362d93ca4e\"><tr><td></td><td></td><td class=\"c n x4e9 y21a1 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a1 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5e0 y21a2 w33 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e1 y21a2 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e2 y21a2 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a3 w324 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Salaries and other<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5e3 y21a3 w325 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls39 ws0\">2,<span class=\"_ _2\"></span>320<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e4 y21a3 w326 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,255<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w327 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Social securit<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5e5 y214a w328 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">230<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e6 y214a w329 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">215<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w32a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wsd6\">Pensio<span class=\"_ _2\"></span>n costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e7 y214b w32b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">12.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e8 y214b w32c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">120<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e9 y214b w32d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">100<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a4 w32e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Share-<span class=\"_ _2\"></span>based<span class=\"_ _0\"></span> payment expense<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ea y21a4 w14a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n x5eb y21a4 w32f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls72 ws9b\">176<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ec y21a4 w330 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w331 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> made to<span class=\"_ _0\"></span> employees<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ed y213e w332 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls75 ws9e\">2<span class=\"_ _2\"></span>,846<span class=\"_ _314\"> </span></div></td><td class=\"c n x5ee y213e w333 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls61 ws86\">2,73<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w334 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Amounts capitalised as development<span class=\"_ _0\"></span> cost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5ef y214f w335 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 wsbf\">(429<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f0 y214f w336 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">(368)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w337 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ota<span class=\"_ _2\"></span>l sta<span class=\"_ _2\"></span>ff co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5cc y2069 w30c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa3 wsce\">2<span class=\"_ _2\"></span>,41<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f1 y2069 w338 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,3<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td></tr></table>Compensation for<span class=\"_ _0\"></span> key ma<span class=\"_ _0\"></span>nagement personnel<span class=\"_ _314\"> </span><table class=\"s w339 h238\" id=\"_58288ba8-a901-49e6-a9f1-3bf1594f3545\"><tr><td></td><td class=\"c n x4e9 y21a5 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21a5 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21a6 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21a6 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w324 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Salaries and other<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f2 y214c w33a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f3 y214c waf h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">21<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w32a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wsd6\">Pensio<span class=\"_ _2\"></span>n costs<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f4 y213e w55 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f5 y213e w2df h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w33b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Share-<span class=\"_ _2\"></span>based<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s</div><div class=\"t m2 x5f6 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ec y2068 w33c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">23<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f7 y2068 w33d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa1 wsda\">18<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w33e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>otal compensation<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f8 y2069 w33f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls72 ws9b\">42<span class=\"_ _314\"> </span></div></td><td class=\"c n x5f9 y2069 w340 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsba wsea\">40<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>For 20<span class=\"_ _0\"></span>24,<span class=\"_ _0\"></span> the share-base<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> payment amounts have been<span class=\"_ _0\"></span> re-<span class=\"_ _2\"></span>presented<span class=\"_ _0\"></span> to align<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> the<span class=\"_ _314\"> </span> ex<span class=\"_ _2\"></span>pen<span class=\"_ _2\"></span>se rec<span class=\"_ _2\"></span>ogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d in t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>sol<span class=\"_ _2\"></span>ida<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e st<span class=\"_ _2\"></span>ate<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t and to b<span class=\"_ _2\"></span>e con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t wi<span class=\"_ _2\"></span>th 2025<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Details of Dir<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>tors\u2019<span class=\"_ _0\"></span> emolument<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e included in the Remuneration<span class=\"_ _314\"> </span> Rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t on pa<span class=\"_ _2\"></span>ges 82 to 1<span class=\"_ _2\"></span>03<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>12. Pension and other retirement benef<span class=\"_ _2\"></span>it schemes<span class=\"_ _314\"> </span>Sub<span class=\"_ _2\"></span>stant<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y all of t<span class=\"_ _2\"></span>he Grou<span class=\"_ _2\"></span>p<span class=\"_ _0\"></span>\u2019s emp<span class=\"_ _2\"></span>loyees p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>tic<span class=\"_ _2\"></span>ipate i<span class=\"_ _2\"></span>n def<span class=\"_ _2\"></span>ined b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it or defined contribut<span class=\"_ _2\"></span>ion s<span class=\"_ _0\"></span>chemes.<span class=\"_ _314\"> </span>This n<span class=\"_ _2\"></span>ote descr<span class=\"_ _2\"></span>ibes t<span class=\"_ _2\"></span>he mai<span class=\"_ _2\"></span>n scheme<span class=\"_ _2\"></span>s, tog<span class=\"_ _2\"></span>ether w<span class=\"_ _2\"></span>ith t<span class=\"_ _2\"></span>he ret<span class=\"_ _2\"></span>iremen<span class=\"_ _2\"></span>t ben<span class=\"_ _2\"></span>efi<span class=\"_ _2\"></span>t cost<span class=\"_ _2\"></span>s reco<span class=\"_ _2\"></span>gnised i<span class=\"_ _2\"></span>n the in<span class=\"_ _2\"></span>come sta<span class=\"_ _2\"></span>temen<span class=\"_ _2\"></span>t and ass<span class=\"_ _2\"></span>ets an<span class=\"_ _2\"></span>d liabilities rec<span class=\"_ _0\"></span>ognised in<span class=\"_ _0\"></span> the balance shee<span class=\"_ _0\"></span>t.  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span>Fo<span class=\"_ _2\"></span>r <span class=\"ff75 ls7 wsa\">defined contribution schemes</span><span class=\"ls6 ws7\">,<span class=\"_ _0\"></span> the operat<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> charge </span>represents the contributions payable in the year<span class=\"_ _0\"></span> and is recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> as incurred.<span class=\"_ _314\"> </span>Fo<span class=\"_ _2\"></span>r the <span class=\"ff75 ls7 wsa\">def<span class=\"_ _2\"></span>ined benefit schemes</span><span class=\"ls6 ws7\">, the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> expense </span>is allocated between serv<span class=\"_ _2\"></span>ice<span class=\"_ _0\"></span> cost<span class=\"_ _2\"></span>, administrati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> fees and ne<span class=\"_ _0\"></span>t finance expense. The service cost represents benefit<span class=\"_ _2\"></span>s accruing to employees<span class=\"_ _0\"></span> and is included as<span class=\"_ _0\"></span> an operating expense.<span class=\"_ _314\"> </span>Cost<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> future employee benefit<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e accrued over<span class=\"_ _0\"></span> the period in which employees earn<span class=\"_ _0\"></span> the benef<span class=\"_ _2\"></span>its. Scheme obligations and costs are det<span class=\"_ _0\"></span>ermined on a regular<span class=\"_ _0\"></span> basis by an<span class=\"_ _0\"></span> independent qualif<span class=\"_ _2\"></span>ied actuar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, in line with IAS 19 <span class=\"ff78 ls4 ws80\">Employee Benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span><span class=\"ff76 ls3 ws3\">, u<span class=\"_ _2\"></span>sing t<span class=\"_ _2\"></span>he pro<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span> </span></span>unit credit me<span class=\"_ _0\"></span>tho<span class=\"_ _2\"></span>d.<span class=\"_ _0\"></span> The obligations are<span class=\"_ _0\"></span> measured by<span class=\"_ _0\"></span> discounting th<span class=\"_ _2\"></span>e bes<span class=\"_ _2\"></span>t es<span class=\"_ _2\"></span>tim<span class=\"_ _2\"></span>ate of fu<span class=\"_ _2\"></span>ture c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s to be p<span class=\"_ _2\"></span>aid ou<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e sche<span class=\"_ _2\"></span>me and are<span class=\"_ _0\"></span> reflec<span class=\"_ _2\"></span>ted in<span class=\"_ _0\"></span> the Group balance sheet.<span class=\"_ _314\"> </span>Net interest is<span class=\"_ _0\"></span> recognised within net finance costs<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> calculated by applyin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> a discount rate<span class=\"_ _0\"></span> to the net de<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>ined benefit asset or liability at the star<span class=\"_ _2\"></span>t of<span class=\"_ _0\"></span> each annual r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting period. The discount rate use<span class=\"_ _2\"></span>d is ba<span class=\"_ _2\"></span>sed on m<span class=\"_ _2\"></span>arket i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st ra<span class=\"_ _2\"></span>tes of hi<span class=\"_ _2\"></span>gh<span class=\"_ _2\"></span>-q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, f<span class=\"_ _2\"></span>ixed<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rate deb<span class=\"_ _2\"></span>t sec<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ties a<span class=\"_ _2\"></span>dju<span class=\"_ _2\"></span>sted t<span class=\"_ _2\"></span>o ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e dura<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted fu<span class=\"_ _2\"></span>ture<span class=\"_ _2\"></span> ca<span class=\"_ _2\"></span>sh out<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s for p<span class=\"_ _2\"></span>ensi<span class=\"_ _2\"></span>on ben<span class=\"_ _2\"></span>efi<span class=\"_ _2\"></span>t pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span><span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The net r<span class=\"_ _0\"></span>etirement benefit asset or liability recognised on the balance sheet<span class=\"_ _0\"></span> comprises the dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ence between the present value of pension<span class=\"_ _0\"></span> obligations and the fair value of<span class=\"_ _0\"></span> scheme assets.<span class=\"_ _314\"> </span>Actuarial gains and losses ar<span class=\"_ _0\"></span>e recognised at<span class=\"_ _0\"></span> each repor<span class=\"_ _2\"></span>ting date,<span class=\"_ _0\"></span> net of tax, in the statement of<span class=\"_ _0\"></span> comprehensive income. These gains and<span class=\"_ _0\"></span> losses arise from experience<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tments<span class=\"_ _2\"></span>, changes in actuarial assumptions or differences between actual and e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d retur<span class=\"_ _2\"></span>ns on a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s. <span class=\"_ _2\"></span>Significant accounting judgement<span class=\"_ _314\"> </span>Recognition of a pension surplus<span class=\"_ _314\"> </span>The Group judges that, on the gradual<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement of the<span class=\"_ _0\"></span> def<span class=\"_ _2\"></span>ined benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> schemes, it can expect any remaining pension<span class=\"_ _0\"></span> surplus to be ref<span class=\"_ _2\"></span>und<span class=\"_ _2\"></span>ed in f<span class=\"_ _2\"></span>ull to t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up. In l<span class=\"_ _2\"></span>ine w<span class=\"_ _2\"></span>ith t<span class=\"_ _2\"></span>he cu<span class=\"_ _2\"></span>rren<span class=\"_ _2\"></span>t accou<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ng standards, it therefore<span class=\"_ _0\"></span> continues to recognise<span class=\"_ _0\"></span> these retirement benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s on<span class=\"_ _0\"></span> the balance sheet in<span class=\"_ _0\"></span> full. <span class=\"_ _2\"></span>Significant accounting estimates and<span class=\"_ _0\"></span> assumptions<span class=\"_ _314\"> </span>Net present value of<span class=\"_ _0\"></span> pension asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and liabilities<span class=\"_ _314\"> </span>Defined benef<span class=\"_ _2\"></span>it pension<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are determined based<span class=\"_ _0\"></span> on the present<span class=\"_ _0\"></span> value of future<span class=\"_ _0\"></span> pension obligations<span class=\"_ _0\"></span> using assumptions determined by<span class=\"_ _0\"></span> the Group with adv<span class=\"_ _2\"></span>ice<span class=\"_ _0\"></span> from an independent qualif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> ac<span class=\"_ _2\"></span>tuary. An actuarial valuation involves<span class=\"_ _0\"></span> making various as<span class=\"_ _2\"></span>sump<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t may di<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fer fro<span class=\"_ _2\"></span>m what a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>uall<span class=\"_ _2\"></span>y hap<span class=\"_ _2\"></span>pens i<span class=\"_ _2\"></span>n the future.<span class=\"_ _314\"> </span>The a<span class=\"_ _2\"></span>ssu<span class=\"_ _2\"></span>mpt<span class=\"_ _2\"></span>ions t<span class=\"_ _2\"></span>hat ar<span class=\"_ _2\"></span>e the m<span class=\"_ _2\"></span>ost s<span class=\"_ _2\"></span>igni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t to the a<span class=\"_ _2\"></span>moun<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span> repor<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed for the significant define<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it schemes<span class=\"_ _0\"></span> are the discount rate,<span class=\"_ _0\"></span> the inf<span class=\"_ _2\"></span>lation rat<span class=\"_ _0\"></span>e, pension increases<span class=\"_ _0\"></span> and mor<span class=\"_ _2\"></span>talit<span class=\"_ _2\"></span>y levels. Assumptions about these variables are based on<span class=\"_ _0\"></span> the environment in each<span class=\"_ _0\"></span> countr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Due to<span class=\"_ _0\"></span> the complexit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> involved in a valuation, and its long-<span class=\"_ _2\"></span>term<span class=\"_ _0\"></span> nature, a<span class=\"_ _0\"></span> def<span class=\"_ _2\"></span>ined bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it obligation is highly sensitive to ch<span class=\"_ _0\"></span>anges in these assumptions. In par<span class=\"_ _2\"></span>ticular<span class=\"_ _0\"></span>, cha<span class=\"_ _2\"></span>nges t<span class=\"_ _2\"></span>o the d<span class=\"_ _2\"></span>iscou<span class=\"_ _2\"></span>nt ra<span class=\"_ _2\"></span>te and in<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on rate c<span class=\"_ _2\"></span>ould re<span class=\"_ _2\"></span>sul<span class=\"_ _2\"></span>t in material changes<span class=\"_ _0\"></span> to the carr<span class=\"_ _2\"></span>ying amounts of the Group<span class=\"_ _0\"></span>\u2019s pension and other post-retirement benefit obligat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin the ne<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>t financial year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Define<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> contribution schemes Defined contribu<span class=\"_ _2\"></span>tion schemes<span class=\"_ _0\"></span> are savings plans that pro<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>ide<span class=\"_ _0\"></span> for matching c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ributions from the Group.<span class=\"_ _0\"></span> Mos<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> new employees joining the Group are<span class=\"_ _0\"></span> eligible to part<span class=\"_ _2\"></span>icipat<span class=\"_ _0\"></span>e in these schemes. The<span class=\"_ _0\"></span> main scheme wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>s the Lo<span class=\"_ _2\"></span>ndo<span class=\"_ _2\"></span>n Stock E<span class=\"_ _2\"></span>xcha<span class=\"_ _2\"></span>nge G<span class=\"_ _2\"></span>roup Pe<span class=\"_ _2\"></span>nsio<span class=\"_ _2\"></span>n Plan<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Define<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it schemes Defined benef<span class=\"_ _2\"></span>it schemes<span class=\"_ _0\"></span> provide pension and other post-retirement benefi<span class=\"_ _2\"></span>ts for<span class=\"_ _0\"></span> covered employees.<span class=\"_ _0\"></span> Benef<span class=\"_ _2\"></span>its are payable generally based on s<span class=\"_ _2\"></span>alar<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d year<span class=\"_ _2\"></span>s of ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice, a<span class=\"_ _2\"></span>lt<span class=\"_ _2\"></span>houg<span class=\"_ _2\"></span>h each p<span class=\"_ _2\"></span>lan ha<span class=\"_ _2\"></span>s a uniq<span class=\"_ _2\"></span>ue benefi<span class=\"_ _2\"></span>ts formula.<span class=\"_ _314\"> </span>Except when r<span class=\"_ _0\"></span>equired by law<span class=\"_ _0\"></span>, vir<span class=\"_ _2\"></span>tually all<span class=\"_ _0\"></span> def<span class=\"_ _2\"></span>ined<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it schemes are closed<span class=\"_ _0\"></span> to new employees.<span class=\"_ _0\"></span> All schemes are gov<span class=\"_ _0\"></span>erned by the local reg<span class=\"_ _2\"></span>ulato<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y fra<span class=\"_ _2\"></span>mewor<span class=\"_ _2\"></span>k and e<span class=\"_ _2\"></span>mplo<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nt law<span class=\"_ _2\"></span>s in th<span class=\"_ _2\"></span>e coun<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>y in w<span class=\"_ _2\"></span>hich<span class=\"_ _2\"></span> they operate.<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s largest defined benefit plans are in<span class=\"_ _0\"></span> the UK and together are in a ne<span class=\"_ _0\"></span>t surplus position. The most signif<span class=\"_ _2\"></span>icant defined benefit schemes (col<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vel<span class=\"_ _2\"></span>y referre<span class=\"_ _2\"></span>d to as t<span class=\"_ _2\"></span>he \u201cL<span class=\"_ _2\"></span>arge U<span class=\"_ _2\"></span>K\u201d sc<span class=\"_ _2\"></span>heme<span class=\"_ _2\"></span>s) are: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls10 ws20\">The Re<span class=\"_ _0\"></span>uters Pension F<span class=\"_ _0\"></span>und (RPF<span class=\"_ _2\"></span>)</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The Reuters Supplementar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> Pension Scheme (SPS)</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls10 ws20\">The L<span class=\"_ _0\"></span>ondon Stock<span class=\"_ _0\"></span> E<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span>change Group P<span class=\"_ _0\"></span>ension Scheme<span class=\"_ _0\"></span> (LS<span class=\"_ _2\"></span>EGPS):</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">LS<span class=\"_ _2\"></span>E Sec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of L<span class=\"_ _2\"></span>SEG<span class=\"_ _2\"></span>PS (<span class=\"_ _2\"></span>prev<span class=\"_ _2\"></span>iou<span class=\"_ _2\"></span>sly t<span class=\"_ _2\"></span>he Lond<span class=\"_ _2\"></span>on Sto<span class=\"_ _2\"></span>ck E<span class=\"_ _2\"></span>xchang<span class=\"_ _2\"></span>e </span>Retirement Plan<span class=\"_ _0\"></span>) <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">LCH Se<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion of L<span class=\"_ _2\"></span>SEG<span class=\"_ _2\"></span>PS (<span class=\"_ _2\"></span>prev<span class=\"_ _2\"></span>iou<span class=\"_ _2\"></span>sly t<span class=\"_ _2\"></span>he LCH Pen<span class=\"_ _2\"></span>sion S<span class=\"_ _2\"></span>chem<span class=\"_ _2\"></span>e)<span class=\"_ _314\"> </span></span>12<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span>1 Am<span class=\"_ _2\"></span>ount<span class=\"_ _2\"></span>s recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in the in<span class=\"_ _2\"></span>come st<span class=\"_ _2\"></span>ateme<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span><table class=\"s w58f h25e\" id=\"_fadeaf09-0772-457a-94e4-67dc00557111\"><tr><td></td><td></td><td class=\"c n x4c5 y2294 w26f h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2294 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4c7 y2295 w33 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c8 y2295 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c9 y2295 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2286 w590 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Defined contribu<span class=\"_ _2\"></span>tion schemes<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x961 y2286 w591 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">90<span class=\"_ _314\"> </span></div></td><td class=\"c n x962 y2286 w592 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">87<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y2296 ff76 fs129 fc1 sc0 ls6c ws7e\">Defined benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> schemes \u2013 current/past </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2297 w593 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span> cost<span class=\"_ _2\"></span>, curtailment and expenses<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x963 y2297 w594 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">30<span class=\"_ _314\"> </span></div></td><td class=\"c n x946 y2297 w410 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w595 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Pen<span class=\"_ _2\"></span>sion c<span class=\"_ _2\"></span>ost<span class=\"_ _2\"></span>s re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d in st<span class=\"_ _2\"></span>af<span class=\"_ _2\"></span>f cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x964 y2288 w596 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">4.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x965 y2288 w597 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">120<span class=\"_ _314\"> </span></div></td><td class=\"c n x966 y2288 w32d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">100<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w598 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Net inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x967 y228f w27a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">5<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x968 y228f w599 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">(5)<span class=\"_ _314\"> </span></div></td><td class=\"c n x969 y228f w56 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(4)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m2 x96a h187 y2298 ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></td><td class=\"t m2 x942 h193 y2299 ff76 fs129 fc1 sc0 lsee ws55\">96<span class=\"_ _314\"> </span></td></tr></table>12.<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span> Amount<span class=\"_ _2\"></span>s recognised<span class=\"_ _0\"></span> in other comprehensive inc<span class=\"_ _0\"></span>ome in respect of retirement<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it<span class=\"_ _0\"></span> schemes<span class=\"_ _314\"> </span>2025<span class=\"_ _314\"> </span>20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span>Note<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>1 January<span class=\"_ _314\"> </span>(301)<span class=\"_ _314\"> </span>(298)<span class=\"_ _314\"> </span>Actuarial gains/(los<span class=\"_ _2\"></span>ses<span class=\"_ _0\"></span>) recognised in t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>12.<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span>64<span class=\"_ _314\"> </span>(<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span>31 December<span class=\"_ _314\"> </span>(237)<span class=\"_ _314\"> </span><span class=\"ws9f\"><span class=\"ff76 ls88 wsb4\">(301<span class=\"_ _314\"> </span></span></span>12.<span class=\"_ _2\"></span>3 Amounts recognised in<span class=\"_ _0\"></span> the balance sheet in<span class=\"_ _0\"></span> respec<span class=\"_ _2\"></span>t of retirement<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it<span class=\"_ _0\"></span> schemes<span class=\"_ _314\"> </span>The amounts recognised in the<span class=\"_ _0\"></span> balance sheet include<span class=\"_ _0\"></span> the asset<span class=\"_ _2\"></span>s and liabilities of the Large<span class=\"_ _0\"></span> UK schemes, as well as<span class=\"_ _0\"></span> various smaller schemes. All pension scheme assets are<span class=\"_ _0\"></span> held separately from those of<span class=\"_ _0\"></span> the Group.<span class=\"_ _314\"> </span><table class=\"s w5a0 h260\" id=\"_4c42631f-80e5-45ad-bd98-dc93dbbe7178\"><tr><td></td><td class=\"c n x4e9 y229d w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y229d w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y2291 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y2291 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w5a1 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it assets<span class=\"_ _314\"> </span></div></td><td class=\"c n x938 y2288 w5a2 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">23<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x972 y2288 w1a3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>62<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w103 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it obligations<span class=\"_ _314\"> </span></div></td><td class=\"c n x973 y228f w5a3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(86)<span class=\"_ _314\"> </span></div></td><td class=\"c n x974 y228f w5a4 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">(6<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w5a5 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">Net retirement<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it asset<span class=\"_ _314\"> </span></div></td><td class=\"c n x975 y2069 w5a6 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls71 ws9a\">152<span class=\"_ _314\"> </span></div></td><td class=\"t m2 x960 h193 y229e ff76 fs129 fc1 sc0 lsab wsd4\">98<span class=\"_ _314\"> </span></td></tr></table>The changes in<span class=\"_ _0\"></span> the net retirement<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it asset during<span class=\"_ _0\"></span> the year are as fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w5a7 h261\" id=\"_4bd94f6d-c5e0-4624-826c-762da64fcd4f\"><tr><td></td><td></td><td class=\"c n x4e9 y229f w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y229f w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x956 y22a0 w218 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x957 y22a0 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x958 y22a0 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a1 w342 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x93a y22a1 w94 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">98<span class=\"_ _314\"> </span></div></td><td class=\"c n x976 y22a1 w568 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">93<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y22a2 ff76 fs129 fc1 sc0 ls89 wsda\">Pension<span class=\"_ _0\"></span> expense, including<span class=\"_ _0\"></span> net </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22a3 w5a8 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">interest income<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x977 y22a3 w231 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">(25)<span class=\"_ _314\"> </span></div></td><td class=\"c n x978 y22a3 w5a9 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws9f\">(9)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a4 w5aa h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Actuarial gains/(los<span class=\"_ _2\"></span>ses<span class=\"_ _0\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x979 y22a4 w263 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls67 ws61\">12.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x97a y22a4 w5ab h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsab wsd4\">64<span class=\"_ _314\"> </span></div></td><td class=\"c n x97b y22a4 w474 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsac wsd7\">(3)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w5ac h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Employer<span class=\"_ _0\"></span> contribut<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> paid<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x97c y2297 w56 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x97d y2297 wa0 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">16<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w303 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x97e y2288 w55 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6af y2288 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2289 w349 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x97f y2289 w55 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x980 y2289 w2df h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x955 y2069 w5a6 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls71 ws9a\">152<span class=\"_ _314\"> </span></div></td><td class=\"t m2 x960 h193 y22a5 ff76 fs129 fc1 sc0 lsab wsd4\">98<span class=\"_ _314\"> </span></td></tr></table>The net r<span class=\"_ _0\"></span>etirement defined benef<span class=\"_ _2\"></span>it assets/(liabilities) in respect of defined benefit schemes are as<span class=\"_ _0\"></span> follows:<span class=\"_ _314\"> </span><table class=\"s w588 h25d\" id=\"_c155072d-8980-4891-8b2a-3355c2eb2299\"><tr><td></td><td></td><td class=\"c n x4e9 y2290 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y2290 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x956 y2291 w218 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x957 y2291 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x958 y2291 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2288 w38d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Large UK schemes</div><div class=\"t m2 x644 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x959 y2288 w589 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">12.4<span class=\"_ _314\"> </span></div></td><td class=\"c n x95a y2288 w58a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">200<span class=\"_ _314\"> </span></div></td><td class=\"c n x95b y2288 w58b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">141<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w58c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other plans<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x95c y228f w1e8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls91 wsbf\">(48<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x95d y228f w58d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(43<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w58e h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">Net retirement<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it asset</div><div class=\"t m2 x95e h195 y210f ff75 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td></td><td class=\"t m2 x95f h187 y2292 ff75 fs129 fc1 sc0 ls71 ws9a\">152<span class=\"_ _314\"> </span></td><td class=\"t m2 x960 h193 y2293 ff76 fs129 fc1 sc0 lsab wsd4\">98<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>The Group<span class=\"_ _0\"></span> recognises net de<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>ined<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it assets on<span class=\"_ _0\"></span> the balance s<span class=\"_ _0\"></span>heet on the basis<span class=\"_ _0\"></span> that the Group would<span class=\"_ _0\"></span> have access<span class=\"_ _0\"></span> to the surplus<span class=\"_ _0\"></span> in the event<span class=\"_ _0\"></span> of a gradual<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement o<span class=\"_ _0\"></span>f the schemes. No a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t cei<span class=\"_ _2\"></span>ling h<span class=\"_ _2\"></span>as t<span class=\"_ _2\"></span>here<span class=\"_ _2\"></span>fore b<span class=\"_ _2\"></span>een a<span class=\"_ _2\"></span>ppl<span class=\"_ _2\"></span>ied t<span class=\"_ _2\"></span>o the n<span class=\"_ _2\"></span>et su<span class=\"_ _2\"></span>rpl<span class=\"_ _2\"></span>us re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d. T<span class=\"_ _2\"></span>he LS<span class=\"_ _2\"></span>E Se<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span> of the<span class=\"_ _0\"></span> LS<span class=\"_ _2\"></span>EGPS is<span class=\"_ _0\"></span> the only UK scheme t<span class=\"_ _0\"></span>o have<span class=\"_ _0\"></span> minimum funding commitments however<span class=\"_ _0\"></span>, based on the lat<span class=\"_ _0\"></span>est analysis carried out by<span class=\"_ _0\"></span> the scheme actuar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, no<span class=\"_ _0\"></span> funding contribution above those se<span class=\"_ _2\"></span>t out i<span class=\"_ _2\"></span>n the a<span class=\"_ _2\"></span>gre<span class=\"_ _2\"></span>ed re<span class=\"_ _2\"></span>cove<span class=\"_ _2\"></span>ry p<span class=\"_ _2\"></span>lan w<span class=\"_ _2\"></span>as re<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>red f<span class=\"_ _2\"></span>rom t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup i<span class=\"_ _2\"></span>n 2025.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>In J<span class=\"_ _2\"></span>une 202<span class=\"_ _2\"></span>3, t<span class=\"_ _2\"></span>he Hi<span class=\"_ _2\"></span>gh Co<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>t is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d a rul<span class=\"_ _2\"></span>ing i<span class=\"_ _2\"></span>n resp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t of V<span class=\"_ _2\"></span>irgi<span class=\"_ _2\"></span>n Me<span class=\"_ _2\"></span>dia v N<span class=\"_ _2\"></span>TL Pen<span class=\"_ _2\"></span>sio<span class=\"_ _2\"></span>n T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ees<span class=\"_ _2\"></span> II Limited (<span class=\"_ _0\"></span>and others) calling int<span class=\"_ _0\"></span>o question the validity of rule amendments made<span class=\"_ _0\"></span> to defined benefit pension schemes c<span class=\"_ _0\"></span>ontr<span class=\"_ _2\"></span>acted-ou<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> on a Re<span class=\"_ _0\"></span>ference Scheme<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>est basis between April 19<span class=\"_ _2\"></span>97 and A<span class=\"_ _2\"></span>pr<span class=\"_ _2\"></span>il 20<span class=\"_ _2\"></span>16<span class=\"_ _2\"></span>. Whi<span class=\"_ _2\"></span>ls<span class=\"_ _2\"></span>t the H<span class=\"_ _2\"></span>igh C<span class=\"_ _2\"></span>our<span class=\"_ _2\"></span>t j<span class=\"_ _2\"></span>udg<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nt wa<span class=\"_ _2\"></span>s uph<span class=\"_ _2\"></span>eld b<span class=\"_ _2\"></span>y the C<span class=\"_ _2\"></span>our<span class=\"_ _2\"></span>t of A<span class=\"_ _2\"></span>pp<span class=\"_ _2\"></span>eal i<span class=\"_ _2\"></span>n July 20<span class=\"_ _0\"></span>24,<span class=\"_ _0\"></span> in June 20<span class=\"_ _0\"></span>25, the UK<span class=\"_ _0\"></span> Government announced that it<span class=\"_ _0\"></span> will introduce legislation t<span class=\"_ _0\"></span>o allow schemes<span class=\"_ _0\"></span> to retrospectively obtain actuarial confirmation of historical<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it ch<span class=\"_ _0\"></span>anges, if n<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>ssa<span class=\"_ _2\"></span>ry. T<span class=\"_ _2\"></span>his l<span class=\"_ _2\"></span>egi<span class=\"_ _2\"></span>sla<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d to rec<span class=\"_ _2\"></span>eiv<span class=\"_ _2\"></span>e Roya<span class=\"_ _2\"></span>l As<span class=\"_ _2\"></span>sen<span class=\"_ _2\"></span>t in mi<span class=\"_ _2\"></span>d-2026<span class=\"_ _2\"></span>. T<span class=\"_ _0\"></span>o da<span class=\"_ _2\"></span>te, n<span class=\"_ _2\"></span>eit<span class=\"_ _2\"></span>her<span class=\"_ _2\"></span> the T<span class=\"_ _0\"></span>rustees nor the<span class=\"_ _0\"></span> Group have<span class=\"_ _0\"></span> completed analysis to<span class=\"_ _0\"></span> determine whether the necessary confirmations were rec<span class=\"_ _0\"></span>eived from the Scheme<span class=\"_ _0\"></span> Actuar<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> for any<span class=\"_ _0\"></span> amendment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to the Group's sc<span class=\"_ _2\"></span>hem<span class=\"_ _2\"></span>es. A<span class=\"_ _2\"></span>s a res<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>, no r<span class=\"_ _2\"></span>elia<span class=\"_ _2\"></span>ble e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>te of t<span class=\"_ _2\"></span>he po<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>l imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t can b<span class=\"_ _2\"></span>e mad<span class=\"_ _2\"></span>e at th<span class=\"_ _2\"></span>is s<span class=\"_ _2\"></span>tag<span class=\"_ _2\"></span>e, similar to<span class=\"_ _0\"></span> last year<span class=\"_ _0\"></span>, although the planned<span class=\"_ _0\"></span> change in legislation should<span class=\"_ _0\"></span> mitigate any potential impact<span class=\"_ _314\"> </span><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls2 ws2 gs39b\">12.4 Large UK schemes<span class=\"_ _314\"> </span></div><div class=\"t m0 h1dc ff78 fs2 fc1 sc0 ls3 ws3 gs39c\">The de<span class=\"_ _2\"></span>tail t<span class=\"_ _2\"></span>hat fol<span class=\"_ _2\"></span>lows re<span class=\"_ _2\"></span>lates to t<span class=\"_ _2\"></span>he Large U<span class=\"_ _2\"></span>K schemes<span class=\"_ _2\"></span>. In t<span class=\"_ _2\"></span>his sec<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n<span class=\"_ _314\"> </span> </div><div class=\"t m0 h1dc ff78 fs2 fc1 sc0 ls3 ws3 gs39d\">we sho<span class=\"_ _2\"></span>w the move<span class=\"_ _2\"></span>ment of t<span class=\"_ _2\"></span>he sche<span class=\"_ _2\"></span>me asset<span class=\"_ _2\"></span>s and d<span class=\"_ _2\"></span>efi<span class=\"_ _2\"></span>ned ben<span class=\"_ _2\"></span>efi<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span> </div><div class=\"t m0 h1dc ff78 fs2 fc1 sc0 ls3 ws3 gs39e\">obl<span class=\"_ _2\"></span>igat<span class=\"_ _2\"></span>ions i<span class=\"_ _2\"></span>n the ye<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>, al<span class=\"_ _2\"></span>ongsi<span class=\"_ _2\"></span>de the a<span class=\"_ _2\"></span>sset cla<span class=\"_ _2\"></span>sses an<span class=\"_ _2\"></span>d expe<span class=\"_ _2\"></span>cted<span class=\"_ _314\"> </span><span class=\"_ _2\"></span> </div><div class=\"t m0 h1dc ff78 fs2 fc1 sc0 ls3 ws3 gs39f\">ben<span class=\"_ _2\"></span>efi<span class=\"_ _2\"></span>t pay<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s. We al<span class=\"_ _2\"></span>so expl<span class=\"_ _2\"></span>ain th<span class=\"_ _2\"></span>e scheme<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>\u2019 inves<span class=\"_ _2\"></span>tment p<span class=\"_ _2\"></span>olic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>,<span class=\"_ _314\"> </span> </div><div class=\"t m0 h1dc ff78 fs2 fc1 sc0 ls3 ws3 gs3a0\">key assu<span class=\"_ _2\"></span>mpti<span class=\"_ _2\"></span>ons and r<span class=\"_ _2\"></span>isk man<span class=\"_ _2\"></span>agem<span class=\"_ _2\"></span>ent.<span class=\"_ _314\"> </span></div><div class=\"gs3a1\"><table class=\"s w5c9 h265\" id=\"_83c1236a-d93d-4596-af6c-425823bbef3d\"><tr><td></td><td class=\"t m0 x9bf hb y22ce ff76 fs6 fc1 sc0 ls4 ws3\">Bu<span class=\"_ _2\"></span>y-in </td><td class=\"c n x4c5 y22cf w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y22cf w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x9c0 hb y22d0 ff76 fs6 fc1 sc0 ls12 ws81\">status<span class=\"_ _314\"> </span></td><td class=\"c n x5b8 y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b9 y22d1 w244 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a4 w41b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">RPF<span class=\"_ _314\"> </span></div></td><td class=\"c x9c2 y22a4 w5ca h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Par<span class=\"_ _2\"></span>tial</div><div class=\"t m0 x9c1 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9c3 y22a4 w5cb h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls75 ws9e\">190<span class=\"_ _314\"> </span></div></td><td class=\"c n x9c4 y22a4 w5cc h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">125<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w370 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8 ws5\">SPS<span class=\"_ _314\"> </span></div></td><td class=\"c x9c6 y2297 w5cd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6d ws97\">Full</div><div class=\"t m0 x9c5 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x9c7 y2297 w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x9c8 y2297 w50 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w149 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">LS<span class=\"_ _2\"></span>E Sec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of L<span class=\"_ _2\"></span>SE<span class=\"_ _2\"></span>GP<span class=\"_ _2\"></span>S<span class=\"_ _314\"> </span></div></td><td class=\"c x9ca y2288 w5ce h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6d ws97\">Full</div><div class=\"t m0 x9c9 h194 y20bd ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x9cb y2288 w55 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9cc y2288 w3c1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2289 w5cf h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">LCH Se<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f LSE<span class=\"_ _2\"></span>GP<span class=\"_ _2\"></span>S<span class=\"_ _314\"> </span></div></td><td class=\"c x9ce y2289 w5d0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6d ws97\">Full</div><div class=\"t m0 x9cd h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x9cb y2289 w55 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9cf y2289 w38b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w5a5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">Net retirement<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it asset<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x9d0 y2069 w5d1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x942 h193 y22d2 ff76 fs129 fc1 sc0 ls6a ws1\">141<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs3a2\">1 <span class=\"_ _c\"> </span>T<span class=\"_ _2\"></span>he RP<span class=\"_ _2\"></span>F has a p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>al bu<span class=\"_ _2\"></span>y-<span class=\"_ _2\"></span>in ar<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>gem<span class=\"_ _2\"></span>ent i<span class=\"_ _2\"></span>n pla<span class=\"_ _2\"></span>ce am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g to \u00a3<span class=\"_ _2\"></span>345 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion<span class=\"_ _314\"> </span> </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls29 ws47 gs3a3\">(202<span class=\"_ _0\"></span>4: \u00a3356 million).<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs3a4\">2 <span class=\"_ _7\"> </span>As a<span class=\"_ _2\"></span>t 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>be<span class=\"_ _2\"></span>r 2025, t<span class=\"_ _2\"></span>he SP<span class=\"_ _2\"></span>S bu<span class=\"_ _2\"></span>y-<span class=\"_ _2\"></span>in am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>ted to \u00a3<span class=\"_ _2\"></span>17<span class=\"_ _2\"></span>2 mill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a31<span class=\"_ _2\"></span>76 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n).<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs3a5\">3 <span class=\"_ _7\"> </span>A<span class=\"_ _2\"></span>s at 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er 2025<span class=\"_ _2\"></span>, the L<span class=\"_ _2\"></span>SE a<span class=\"_ _2\"></span>nd LCH S<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns of t<span class=\"_ _2\"></span>he L<span class=\"_ _2\"></span>SEG<span class=\"_ _2\"></span>PS b<span class=\"_ _2\"></span>uy<span class=\"_ _2\"></span>-in a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nte<span class=\"_ _2\"></span>d<span class=\"_ _314\"> </span> </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs3a6\">to \u00a3<span class=\"_ _2\"></span>248 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on (20<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>259 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on) an<span class=\"_ _2\"></span>d \u00a312<span class=\"_ _2\"></span>3 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (2024: \u00a31<span class=\"_ _2\"></span>29 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n), re<span class=\"_ _2\"></span>spe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ely.<span class=\"_ _314\"> </span></div>Fair v<span class=\"_ _2\"></span>alue of t<span class=\"_ _2\"></span>he asse<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d pres<span class=\"_ _2\"></span>ent val<span class=\"_ _2\"></span>ue of the l<span class=\"_ _2\"></span>iabil<span class=\"_ _2\"></span>itie<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e Larg<span class=\"_ _2\"></span>e UK sch<span class=\"_ _2\"></span>emes<span class=\"_ _314\"> </span>The amounts included in the balance<span class=\"_ _0\"></span> sheet arising from<span class=\"_ _0\"></span> the Group\u2019s obligations in respect of the Large<span class=\"_ _0\"></span> UK schemes are as<span class=\"_ _0\"></span> follows:<span class=\"_ _314\"> </span><table class=\"s w5ad h262\" id=\"_183352a1-c008-4b12-b2c8-cd5f49c30845\"><tr><td></td><td></td><td></td><td class=\"t m0 x981 h13 y22a6 ff75 fs6 fc1 sc0 ls110 ws7\">Net surplus/<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"c n x982 y22a7 w5ae h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws125\">Asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x983 y22a7 w5af h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws125\">Liabilities</div></td><td class=\"t m0 x984 h13 y22a8 ff75 fs6 fc1 sc0 ls66 ws8d\">(deficit)<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"c n x985 y22a9 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x986 y22a9 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x987 y22a9 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y22aa w12c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x988 y22aa w6d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>33<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x989 y22aa w5b0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb4 wse2\">(<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>74<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x98a y22aa w5b1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa7 wsd3\">157<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22ab ff76 fs129 fc1 sc0 ls89 wsda\">Pension<span class=\"_ _0\"></span> (expense)/income </td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x6bc h193 y22ac ff76 fs129 fc1 sc0 ls76 ws5\">recognised in the<span class=\"_ _0\"></span> income statement</td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x683 h193 y22ad ff76 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Pas<span class=\"_ _2\"></span>t/current service cost</span><span class=\"ls6c ws7e\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y22ae w5b2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">and administrati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> fees<span class=\"_ _314\"> </span></div></td><td class=\"c n x98b y22ae w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x98c y22ae w19f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsac wsd7\">(8)<span class=\"_ _314\"> </span></div></td><td class=\"c n x98d y22ae w19f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsac wsd7\">(8)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22af w5b3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income/(c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t)<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x98e y22af w5b4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">1<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td><td class=\"c n x98f y22af w5b5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">(96)<span class=\"_ _314\"> </span></div></td><td class=\"c n x990 y22af w5b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22b0 ff76 fs129 fc1 sc0 ls89 wsda\">Remeasur<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> recognised </td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x6bc h193 y22b1 ff76 fs129 fc1 sc0 ls6c ws7e\">in other c<span class=\"_ _0\"></span>omprehensive income<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y22b5 w5b7 h263\"><div class=\"t m0 x1e4 h193 y22b2 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">M<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ent on p<span class=\"_ _2\"></span>lan a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>,<span class=\"_ _314\"> </span></span></div><div class=\"t m0 x67d h193 y22b3 ff76 fs129 fc1 sc0 ls76 ws5\">excluding<span class=\"_ _0\"></span> interest income,<span class=\"_ _314\"> </span></div><div class=\"t m0 x67d h193 y22b4 ff76 fs129 fc1 sc0 ls76 ws5\">recognised in o<span class=\"_ _0\"></span>th<span class=\"_ _2\"></span>er<span class=\"_ _314\"> </span></div><div class=\"t m0 x67d h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x991 y22b5 w16f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls75 ws9e\">(2<span class=\"_ _0\"></span>48)<span class=\"_ _314\"> </span></div></td><td class=\"c n x992 y22b5 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x993 y22b5 w16f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls75 ws9e\">(2<span class=\"_ _0\"></span>48)</div></td></tr><tr><td class=\"t m0 x683 h193 y22b6 ff76 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Ac<span class=\"_ _2\"></span>tuarial gains</span><span class=\"ls76 ws5\"><span class=\"_ _0\"></span> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y22b7 w5b8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">\u2013 financial assumptions<span class=\"_ _314\"> </span></div></td><td class=\"c n x994 y22b7 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x995 y22b7 w231 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">222<span class=\"_ _314\"> </span></div></td><td class=\"c n x603 y22b7 w231 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">222</div></td></tr><tr><td class=\"t m0 x683 h193 y22b8 ff76 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Ac<span class=\"_ _2\"></span>tuarial gains</span><span class=\"ls76 ws5\"><span class=\"_ _0\"></span> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y22b9 w5b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u2013 demographic<span class=\"_ _0\"></span> assumptions<span class=\"_ _314\"> </span></div></td><td class=\"c n x996 y22b9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x997 y22b9 w5b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td><td class=\"c n x998 y22b9 w5b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x68a y22ba w33b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Employer<span class=\"_ _0\"></span> contribut<span class=\"_ _2\"></span>ions</div><div class=\"t m0 x5f6 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x999 y22ba w9d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td><td class=\"c n x99a y22ba w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x99b y22ba w5b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y22bb w5ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Benefi<span class=\"_ _2\"></span>ts paid<span class=\"_ _314\"> </span></div></td><td class=\"c n x99c y22bb w5bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(108)<span class=\"_ _314\"> </span></div></td><td class=\"c n x99d y22bb w53e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">108<span class=\"_ _314\"> </span></div></td><td class=\"c n x99e y22bb w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y22bc w303 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x99f y22bc w474 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a0 y22bc w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a1 y22bc w5bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22bd ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></td><td class=\"c n x9a2 y22be w5bd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">2,08<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a3 y22be w5be h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">(1,940)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a4 y22be w5bf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">1<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22bf ff76 fs129 fc1 sc0 ls89 wsda\">Pension<span class=\"_ _0\"></span> (expense)/income </td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x6bc h193 y22c0 ff76 fs129 fc1 sc0 ls76 ws5\">recognised in the<span class=\"_ _0\"></span> income statement</td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x683 h193 y22c1 ff76 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Pas<span class=\"_ _2\"></span>t/current service cost</span><span class=\"ls6c ws7e\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y22c2 w5b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">and administrati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> fees<span class=\"_ _314\"> </span></div></td><td class=\"c n x98b y22c2 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a5 y22c2 w3e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsea ws113\">(7)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a6 y22c2 w3e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsea ws113\">(7)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22c3 w5b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income/(c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t)<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9a7 y22c3 w1fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">107<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a8 y22c3 w5c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">(99)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a9 y22c3 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22c4 ff76 fs129 fc1 sc0 ls89 wsda\">Remeasur<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> recognised </td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x6bc h193 y22c5 ff76 fs129 fc1 sc0 ls6c ws7e\">in other c<span class=\"_ _0\"></span>omprehensive income<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y22c8 w5b7 h264\"><div class=\"t m0 x1e4 h193 y22c6 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">M<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ent on p<span class=\"_ _2\"></span>lan a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>,<span class=\"_ _314\"> </span></span></div><div class=\"t m0 x67d h193 y22c7 ff76 fs129 fc1 sc0 ls76 ws5\">excluding<span class=\"_ _0\"></span> interest income,<span class=\"_ _314\"> </span></div><div class=\"t m0 x67d h193 y21e0 ff76 fs129 fc1 sc0 ls76 ws5\">recognised in o<span class=\"_ _0\"></span>th<span class=\"_ _2\"></span>er<span class=\"_ _314\"> </span></div><div class=\"t m0 x67d h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x9aa y22c8 w5c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ab y22c8 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ac y22c8 w5c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">12</div></td></tr><tr><td class=\"t m0 x683 h193 y22c9 ff76 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Ac<span class=\"_ _2\"></span>tuarial gains</span><span class=\"ls76 ws5\"><span class=\"_ _0\"></span> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y22ca w5b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">\u2013 financial assumptions<span class=\"_ _314\"> </span></div></td><td class=\"c n x994 y22ca w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ad y22ca w95 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">35<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ae y22ca w95 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">35</div></td></tr><tr><td class=\"t m0 x683 h193 y22cb ff76 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Ac<span class=\"_ _2\"></span>tuarial gains</span><span class=\"ls76 ws5\"><span class=\"_ _0\"></span> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y218d w5b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u2013 demographic<span class=\"_ _0\"></span> assumptions<span class=\"_ _314\"> </span></div></td><td class=\"c n x996 y218d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9af y218d w33a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b0 y218d w542 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22cc w5c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Ac<span class=\"_ _2\"></span>tuarial<span class=\"_ _0\"></span> losses \u2013 experience<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9b1 y22cc w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b2 y22cc w8f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b3 y22cc w8f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(11)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x68a y213d w33b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Employer<span class=\"_ _0\"></span> contribut<span class=\"_ _2\"></span>ions</div><div class=\"t m0 x5f6 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x999 y214c wa5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b4 y214c w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b5 y214c w5c3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y2176 w5ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Benefi<span class=\"_ _2\"></span>ts paid<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b6 y2176 w5c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">(113)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b7 y2176 w5c5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">11<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b8 y2176 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y22cd w303 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b9 y22cd w55 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ba y22cd w1a5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9bb y22cd wa0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y2069 w5c6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x9bc y2069 w5c7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">2<span class=\"_ _2\"></span>,093<span class=\"_ _314\"> </span></div></td><td class=\"c n x9bd y2069 w127 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6f ws99\">(1,<span class=\"_ _2\"></span>893)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9be y2069 w5c8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup co<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ute<span class=\"_ _2\"></span>d \u00a35 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on (2<span class=\"_ _2\"></span>02<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>6 mil<span class=\"_ _2\"></span>lion<span class=\"_ _2\"></span>) to it<span class=\"_ _2\"></span>s La<span class=\"_ _2\"></span>rge U<span class=\"_ _2\"></span>K sch<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to con<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ibu<span class=\"_ _2\"></span>te ap<span class=\"_ _2\"></span>prox<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>tel<span class=\"_ _2\"></span>y \u00a34 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n to it<span class=\"_ _2\"></span>s La<span class=\"_ _2\"></span>rge U<span class=\"_ _2\"></span>K sch<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>s in 2026<span class=\"_ _2\"></span>. For t<span class=\"_ _2\"></span>he R<span class=\"_ _2\"></span>PF, the T<span class=\"_ _0\"></span>rustees have<span class=\"_ _0\"></span> the right to<span class=\"_ _0\"></span> call for special<span class=\"_ _0\"></span> valuations, which could s<span class=\"_ _0\"></span>ubsequent<span class=\"_ _2\"></span>ly<span class=\"_ _0\"></span> result in the Gr<span class=\"_ _2\"></span>oup h<span class=\"_ _2\"></span>avi<span class=\"_ _2\"></span>ng to ma<span class=\"_ _2\"></span>ke an un<span class=\"_ _2\"></span>exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>. Ma<span class=\"_ _2\"></span>rket-<span class=\"_ _2\"></span>re<span class=\"_ _2\"></span>late<span class=\"_ _2\"></span>d fac<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span>rs ma<span class=\"_ _2\"></span>y als<span class=\"_ _2\"></span>o af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e timing and<span class=\"_ _0\"></span> amount of<span class=\"_ _0\"></span> contributions<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>The f<span class=\"_ _2\"></span>air v<span class=\"_ _2\"></span>alue of e<span class=\"_ _2\"></span>ach ma<span class=\"_ _2\"></span>jor cl<span class=\"_ _2\"></span>ass of s<span class=\"_ _2\"></span>chem<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>ets a<span class=\"_ _2\"></span>re as fol<span class=\"_ _2\"></span>lows<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span><table class=\"s w5d2 h266\" id=\"_973207d0-a354-4177-8876-8ff174a12bb3\"><tr><td></td><td class=\"c n x649 y22d3 w26f h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x64a y22d3 w270 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y22d4 w5d3 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls26 ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x9d1 y22d4 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x9d2 y22d4 w244 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y22d5 ff76 fs129 fc1 sc0 ls6c ws96\">Equities<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22d6 w5d4 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws0\">Q<span class=\"_ _2\"></span>uoted<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9d3 y22d6 w5d5 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">112<span class=\"_ _314\"> </span></div></td><td class=\"c n x9d4 y22d6 w53e h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls75 ws9e\">108<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d7 w5d6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 ws79\">Unquoted<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9d5 y22d7 w17c h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td><td class=\"c n x9d6 y22d7 w315 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y22d8 ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c x1eb y22d9 w5d7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 ws79\">Unquoted</span></div><div class=\"t m0 x9d7 h194 y20bd ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x65f y22d9 w185 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6d ws97\">778<span class=\"_ _314\"> </span></div></td><td class=\"c n x9d8 y22d9 w5d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6e ws98\">729<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2297 w553 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Buy-<span class=\"_ _2\"></span>in policy<span class=\"_ _314\"> </span></div></td><td class=\"c n x9d9 y2297 w5d9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">888<span class=\"_ _314\"> </span></div></td><td class=\"c n x9da y2297 w5da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa2 wscd\">920<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2288 wdb h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x9db y2288 w5db h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">16<span class=\"_ _314\"> </span></div></td><td class=\"c n x9dc y2288 w5dc h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsb6\">20<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y228f w5dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Multi<span class=\"_ _2\"></span>-assets and other<span class=\"_ _314\"> </span></div></td><td class=\"c n x9dd y228f w5de h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">293<span class=\"_ _314\"> </span></div></td><td class=\"c n x9de y228f w5df h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6e ws98\">294<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w5e0 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ota<span class=\"_ _2\"></span>l fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of ass<span class=\"_ _2\"></span>ets<span class=\"_ _314\"> </span></div></td><td class=\"c n x9df y2069 w5e1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">2,093<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x9e0 h193 y22da ff76 fs129 fc1 sc0 ls67 ws61\">2,08<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>Includes gross<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of \u00a31,238 million (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a31,<span class=\"_ _2\"></span>310 million)<span class=\"_ _0\"></span> and associated repur<span class=\"_ _0\"></span>chase agreement liabilities of<span class=\"_ _0\"></span> \u00a3460 million<span class=\"_ _0\"></span> (202<span class=\"_ _0\"></span>4: \u00a3581 million).<span class=\"_ _0\"></span> Repurchase agreements ar<span class=\"_ _0\"></span>e entered into with count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ties to<span class=\"_ _0\"></span> bet<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> off<span class=\"_ _2\"></span>set<span class=\"_ _0\"></span> the scheme\u2019<span class=\"_ _0\"></span>s exposure t<span class=\"_ _0\"></span>o interest and<span class=\"_ _0\"></span> inflat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> rates, wh<span class=\"_ _2\"></span>ils<span class=\"_ _2\"></span>t rem<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>ing i<span class=\"_ _2\"></span>nves<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d in as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of a si<span class=\"_ _2\"></span>mil<span class=\"_ _2\"></span>ar ri<span class=\"_ _2\"></span>sk pr<span class=\"_ _2\"></span>ofi<span class=\"_ _2\"></span>le.<span class=\"_ _314\"> </span>Investment policy<span class=\"_ _314\"> </span>The Group bears the cost o<span class=\"_ _0\"></span>f the Large UK schemes. Howev<span class=\"_ _0\"></span>er,<span class=\"_ _0\"></span> the responsibilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> for managing and<span class=\"_ _0\"></span> governing the Large UK schemes<span class=\"_ _0\"></span> lies with the independent trus<span class=\"_ _2\"></span>tee boards<span class=\"_ _0\"></span> (<span class=\"_ _2\"></span>T<span class=\"_ _3\"></span>rus<span class=\"_ _2\"></span>tees<span class=\"_ _0\"></span>). T<span class=\"_ _0\"></span>rustees set inv<span class=\"_ _0\"></span>est<span class=\"_ _2\"></span>ment policies and strategies for<span class=\"_ _0\"></span> each plan and ov<span class=\"_ _0\"></span>erse<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ment<span class=\"_ _0\"></span> allocat<span class=\"_ _2\"></span>ion. This includes selecting investment managers<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> commissioning periodic asset-liabilit<span class=\"_ _2\"></span>y studies and setting long<span class=\"_ _2\"></span>-term targets. The T<span class=\"_ _3\"></span>rus<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ees may consult with the Group in setting investment polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, but the<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>rustees are ultimately acc<span class=\"_ _0\"></span>ountable for it.<span class=\"_ _314\"> </span>The principal investment object<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> are to<span class=\"_ _0\"></span>: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Ens<span class=\"_ _2\"></span>ure fu<span class=\"_ _2\"></span>nds are a<span class=\"_ _2\"></span>vail<span class=\"_ _2\"></span>able t<span class=\"_ _2\"></span>o pay pe<span class=\"_ _2\"></span>nsio<span class=\"_ _2\"></span>n benef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>s the<span class=\"_ _2\"></span>y beco<span class=\"_ _2\"></span>me </span>due under a<span class=\"_ _0\"></span> broad range of future<span class=\"_ _0\"></span> economic scenarios. <span class=\"_ _df\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls116 ws7\">Maximise long-term investmen<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> return with an acceptable le<span class=\"_ _0\"></span>vel of risk. </span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Diversif<span class=\"_ _2\"></span>y across capital marke<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s t<span class=\"_ _0\"></span>o insulate asset<span class=\"_ _0\"></span> values against risk </span>in any one<span class=\"_ _0\"></span> market.<span class=\"_ _314\"> </span>Investment allocation<span class=\"_ _314\"> </span>Investment allocat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> takes into ac<span class=\"_ _0\"></span>count a number o<span class=\"_ _0\"></span>f fac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>s, incl<span class=\"_ _0\"></span>uding: the funded status of the scheme;<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>ting the right balanc<span class=\"_ _0\"></span>e bet<span class=\"_ _2\"></span>ween risk and r<span class=\"_ _0\"></span>eturn; the scheme\u2019<span class=\"_ _0\"></span>s liquidity needs; current and e<span class=\"_ _0\"></span>xpe<span class=\"_ _2\"></span>cted economic a<span class=\"_ _0\"></span>nd market<span class=\"_ _0\"></span> conditions; specific asset cl<span class=\"_ _0\"></span>ass risk; as well<span class=\"_ _0\"></span> as the risk profile and maturity pat<span class=\"_ _2\"></span>tern o<span class=\"_ _0\"></span>f the scheme.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>arget investment allocat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> ranges provide guidelines, not limitations. Plans may<span class=\"_ _0\"></span> have diversif<span class=\"_ _2\"></span>ied port<span class=\"_ _2\"></span>folios<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tments in equities, fi<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span>ed income, r<span class=\"_ _0\"></span>eal estate, insurance c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ract<span class=\"_ _2\"></span>s, derivatives, and other asset classes through dir<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>t ownership or<span class=\"_ _0\"></span> through other instr<span class=\"_ _2\"></span>uments, suc<span class=\"_ _2\"></span>h as mu<span class=\"_ _2\"></span>tual f<span class=\"_ _2\"></span>und<span class=\"_ _2\"></span>s, com<span class=\"_ _2\"></span>ming<span class=\"_ _2\"></span>led f<span class=\"_ _2\"></span>unds a<span class=\"_ _2\"></span>nd he<span class=\"_ _2\"></span>dge f<span class=\"_ _2\"></span>unds<span class=\"_ _2\"></span>. Der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ves may b<span class=\"_ _2\"></span>e use<span class=\"_ _2\"></span>d to achi<span class=\"_ _2\"></span>eve inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t obje<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>s or as a co<span class=\"_ _2\"></span>mpon<span class=\"_ _2\"></span>ent of ri<span class=\"_ _2\"></span>sk man<span class=\"_ _2\"></span>agem<span class=\"_ _2\"></span>ent (s<span class=\"_ _2\"></span>uch as fo<span class=\"_ _2\"></span>r inter<span class=\"_ _2\"></span>est r<span class=\"_ _2\"></span>ate an<span class=\"_ _2\"></span>d curre<span class=\"_ _2\"></span>nc<span class=\"_ _2\"></span>y management strategies). The T<span class=\"_ _3\"></span>rus<span class=\"_ _2\"></span>tees<span class=\"_ _0\"></span> invest the schemes\u2019 assets in a<span class=\"_ _0\"></span> por<span class=\"_ _2\"></span>tfolio of physical assets and liability<span class=\"_ _2\"></span>-matching assets: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The physical assets have the objective of outper<span class=\"_ _2\"></span>forming the li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies </span>by in<span class=\"_ _2\"></span>vest<span class=\"_ _2\"></span>ing i<span class=\"_ _2\"></span>n a sui<span class=\"_ _2\"></span>tab<span class=\"_ _2\"></span>ly di<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>sif<span class=\"_ _2\"></span>ied r<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>e of ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s, con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g of ris<span class=\"_ _2\"></span>k premia strategies, corporate bonds (<span class=\"_ _0\"></span>and other credit alternatives) and proper<span class=\"_ _2\"></span>ty which together are<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> to reduce<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ment v<span class=\"_ _0\"></span>olatili<span class=\"_ _2\"></span>ty. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The liability<span class=\"_ _2\"></span>-matching assets seek t<span class=\"_ _0\"></span>o hedge against the interest rate </span>and inflation risks associated with liabilities<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The assets are predominantly gilt<span class=\"_ _2\"></span>s, both nominal<span class=\"_ _0\"></span> and index-linked. The<span class=\"_ _0\"></span> SP<span class=\"_ _2\"></span>S<span class=\"_ _0\"></span> and LSEG<span class=\"_ _2\"></span>PS include<span class=\"_ _0\"></span> bulk annuit<span class=\"_ _2\"></span>y transact<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> (bu<span class=\"_ _2\"></span>y-ins) broadly insuring all t<span class=\"_ _2\"></span>he be<span class=\"_ _2\"></span>nef<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s. T<span class=\"_ _2\"></span>he RP<span class=\"_ _2\"></span>F has a pa<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tial b<span class=\"_ _2\"></span>uy<span class=\"_ _2\"></span>-in<span class=\"_ _314\"> </span><span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Plan assets are inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed to adequately secure<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its and to<span class=\"_ _0\"></span> minimise the need for<span class=\"_ _0\"></span> long<span class=\"_ _2\"></span>-term contributions to the schemes. The<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s held by t<span class=\"_ _2\"></span>he RP<span class=\"_ _2\"></span>F mainl<span class=\"_ _2\"></span>y con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>t of cas<span class=\"_ _2\"></span>h and c<span class=\"_ _2\"></span>ash eq<span class=\"_ _2\"></span>uiv<span class=\"_ _2\"></span>alen<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>, gove<span class=\"_ _2\"></span>rnme<span class=\"_ _2\"></span>nt and corporate bonds, and<span class=\"_ _0\"></span> various invest<span class=\"_ _2\"></span>ment<span class=\"_ _0\"></span> vehicles. The SPS and th<span class=\"_ _2\"></span>e LSE<span class=\"_ _2\"></span>GP<span class=\"_ _2\"></span>S are fu<span class=\"_ _2\"></span>lly b<span class=\"_ _2\"></span>ough<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>in and t<span class=\"_ _2\"></span>herefo<span class=\"_ _2\"></span>re hol<span class=\"_ _2\"></span>d cas<span class=\"_ _2\"></span>h, bu<span class=\"_ _2\"></span>y-<span class=\"_ _2\"></span>in cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s and some l<span class=\"_ _0\"></span>iquid assets<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Funding<span class=\"_ _0\"></span> valuations and<span class=\"_ _0\"></span> arrangements<span class=\"_ _314\"> </span>The T<span class=\"_ _3\"></span>rus<span class=\"_ _2\"></span>tees<span class=\"_ _0\"></span> are responsible f<span class=\"_ _0\"></span>or carr<span class=\"_ _2\"></span>ying out triennial valuations (unless circumstances r<span class=\"_ _0\"></span>equire an earlier r<span class=\"_ _0\"></span>eview) and securing funding for benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s. In order<span class=\"_ _0\"></span> to develop funding valuations and<span class=\"_ _0\"></span> investmen<span class=\"_ _2\"></span>t policies, the T<span class=\"_ _3\"></span>ru<span class=\"_ _2\"></span>stees c<span class=\"_ _0\"></span>onsult wit<span class=\"_ _2\"></span>h the schemes<span class=\"_ _0\"></span>\u2019 actuar<span class=\"_ _2\"></span>y (who is independent of the Group<span class=\"_ _0\"></span>\u2019s actuar<span class=\"_ _2\"></span>y), the schemes<span class=\"_ _0\"></span>\u2019 investment adviso<span class=\"_ _2\"></span>rs (also independent o<span class=\"_ _0\"></span>f the Group\u2019<span class=\"_ _0\"></span>s investment adv<span class=\"_ _2\"></span>isors)<span class=\"_ _0\"></span> and the Group. The l<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>t tr<span class=\"_ _2\"></span>ienn<span class=\"_ _2\"></span>ial va<span class=\"_ _2\"></span>luat<span class=\"_ _2\"></span>ions a<span class=\"_ _2\"></span>gree<span class=\"_ _2\"></span>d for t<span class=\"_ _2\"></span>he RPF a<span class=\"_ _2\"></span>nd SP<span class=\"_ _2\"></span>S were d<span class=\"_ _2\"></span>ated 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2022 an<span class=\"_ _2\"></span>d dis<span class=\"_ _2\"></span>cuss<span class=\"_ _2\"></span>ions a<span class=\"_ _2\"></span>re due to g<span class=\"_ _2\"></span>et und<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>way fo<span class=\"_ _2\"></span>r the next triennial valuations which are e<span class=\"_ _0\"></span>xpe<span class=\"_ _2\"></span>cted to<span class=\"_ _0\"></span> be finalised by March 2027<span class=\"_ _3\"></span>. T<span class=\"_ _2\"></span>he LS<span class=\"_ _2\"></span>EG<span class=\"_ _2\"></span>PS la<span class=\"_ _2\"></span>test t<span class=\"_ _2\"></span>rie<span class=\"_ _2\"></span>nnia<span class=\"_ _2\"></span>l valu<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on was d<span class=\"_ _2\"></span>ated 3<span class=\"_ _2\"></span>1<span class=\"_ gsbf\"> </span>Dece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 2023. T<span class=\"_ _2\"></span>he onl<span class=\"_ _2\"></span>y val<span class=\"_ _2\"></span>uat<span class=\"_ _2\"></span>ion wh<span class=\"_ _2\"></span>ich rev<span class=\"_ _2\"></span>eale<span class=\"_ _2\"></span>d a def<span class=\"_ _2\"></span>ici<span class=\"_ _2\"></span>t was t<span class=\"_ _2\"></span>he LS<span class=\"_ _2\"></span>E Sec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of t<span class=\"_ _2\"></span>he LS<span class=\"_ _2\"></span>EGP<span class=\"_ _2\"></span>S wh<span class=\"_ _2\"></span>ich has a r<span class=\"_ _2\"></span>ecover<span class=\"_ _2\"></span>y p<span class=\"_ _2\"></span>lan in p<span class=\"_ _2\"></span>lace to r<span class=\"_ _2\"></span>emove t<span class=\"_ _2\"></span>he tec<span class=\"_ _2\"></span>hnic<span class=\"_ _2\"></span>al prov<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>ons sh<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>fall o<span class=\"_ _2\"></span>f \u00a32 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on by Ap<span class=\"_ _2\"></span>ril 2028<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p cont<span class=\"_ _2\"></span>inue<span class=\"_ _2\"></span>s to prov<span class=\"_ _2\"></span>ide g<span class=\"_ _2\"></span>uara<span class=\"_ _2\"></span>ntee<span class=\"_ _2\"></span>s to the Trus<span class=\"_ _2\"></span>tees of t<span class=\"_ _2\"></span>he R<span class=\"_ _2\"></span>PF and t<span class=\"_ _2\"></span>o the T<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>uste<span class=\"_ _2\"></span>es of t<span class=\"_ _2\"></span>he SP<span class=\"_ _2\"></span>S in con<span class=\"_ _2\"></span>junc<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>ith t<span class=\"_ _2\"></span>rie<span class=\"_ _2\"></span>nnia<span class=\"_ _2\"></span>l valu<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on and<span class=\"_ _2\"></span> fu<span class=\"_ _2\"></span>ndin<span class=\"_ _2\"></span>g obli<span class=\"_ _2\"></span>gat<span class=\"_ _2\"></span>ions<span class=\"_ _2\"></span>. A<span class=\"_ _2\"></span>s at 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber v2025, t<span class=\"_ _2\"></span>he agg<span class=\"_ _2\"></span>rega<span class=\"_ _2\"></span>te max<span class=\"_ _2\"></span>imum<span class=\"_ _2\"></span> liabilit<span class=\"_ _2\"></span>y under<span class=\"_ _0\"></span> the guarantees was \u00a3700 million<span class=\"_ _0\"></span> for the RPF and \u00a312<span class=\"_ _0\"></span>0 million for<span class=\"_ _0\"></span> the SPS<span class=\"_ _2\"></span>. These<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e unchanged from last ye<span class=\"_ _0\"></span>ar.<span class=\"_ _314\"> </span>Actuarial assumption<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p used t<span class=\"_ _2\"></span>he fol<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>ing wei<span class=\"_ _2\"></span>ghte<span class=\"_ _2\"></span>d-<span class=\"_ _2\"></span>aver<span class=\"_ _2\"></span>age a<span class=\"_ _2\"></span>ssum<span class=\"_ _2\"></span>pti<span class=\"_ _2\"></span>ons in<span class=\"_ _2\"></span> determining the defined benefit obligation for the Large<span class=\"_ _0\"></span> U<span class=\"_ _2\"></span>K<span class=\"_ _0\"></span> schemes:<span class=\"_ _314\"> </span><table class=\"s w5e2 h267\" id=\"_37da458f-bfe8-46dc-93ad-357826aa7e2e\"><tr><td></td><td class=\"c n x677 y22db w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x678 y22db w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22dc ff76 fs129 fc1 sc0 ls76 ws5\">Discount rate<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22dd w5e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 ws79\">Non<span class=\"_ _2\"></span>-insured<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9e1 y22dd w5e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">5.50%<span class=\"_ _314\"> </span></div></td><td class=\"c n x9e2 y22dd w5e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">5.50<span class=\"_ _2\"></span>%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22de w5e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws0\">I<span class=\"_ _2\"></span>nsured<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9e3 y22de w5e7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d ws97\">5.40%<span class=\"_ _314\"> </span></div></td><td class=\"c n x9e4 y22de w5e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">5.<span class=\"_ _2\"></span>36%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y22df w5e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Price inflation<span class=\"_ _314\"> </span></div></td><td class=\"c n x9e5 y22df w5ea h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">2<span class=\"_ _2\"></span>.90%<span class=\"_ _314\"> </span></div></td><td class=\"c n x9e6 y22df w5eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8 ws5\">3.23%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y22e0 w5ec h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Rate<span class=\"_ _0\"></span> of increase in<span class=\"_ _0\"></span> salaries<span class=\"_ _314\"> </span></div></td><td class=\"c n x9e7 y22e0 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9e8 y22e0 w5ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">3.<span class=\"_ _2\"></span>20%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22e1 ff76 fs129 fc1 sc0 ls6a ws3\">Li<span class=\"_ _2\"></span>fe expe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>tan<span class=\"_ _2\"></span>cy f<span class=\"_ _2\"></span>rom ag<span class=\"_ _2\"></span>e 65 (y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s)<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22e2 w5ee h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-retired<span class=\"_ _0\"></span> male member<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9e9 y22e2 w5ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb1 wsdd\">2<span class=\"_ _2\"></span>3.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ea y22e2 w5f0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">23.9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e3 w5f1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Non<span class=\"_ _2\"></span>-retired f<span class=\"_ _0\"></span>emale member<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9eb y22e3 w518 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb1 wsdd\">25<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ec y22e3 w5f2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">26<span class=\"_ _2\"></span>.0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w5f3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Retired male member<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9ed y22e4 w5f4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">22.6<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ee y22e4 w5f5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">22.<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w5f6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Retired female<span class=\"_ _0\"></span> member<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9ef y2069 w5f7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>.4<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x9f0 h193 y22e5 ff76 fs129 fc1 sc0 lsb9 wse9\">24<span class=\"_ _2\"></span>.<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></td></tr></table>Sensitiv<span class=\"_ _2\"></span>ity analysis<span class=\"_ _314\"> </span>The measurement<span class=\"_ _0\"></span> of the Large UK schemes<span class=\"_ _0\"></span> obligation<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> is sensiti<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> to changes<span class=\"_ _0\"></span> in cert<span class=\"_ _2\"></span>ain<span class=\"_ _0\"></span> key assumptions. The sensitivit<span class=\"_ _2\"></span>y analysis below shows how a<span class=\"_ _0\"></span> reasonably possible increase in<span class=\"_ _0\"></span> a par<span class=\"_ _2\"></span>ticular assumption would, in isolation, r<span class=\"_ _0\"></span>esult in an increase<span class=\"_ _0\"></span> or decrease in<span class=\"_ _0\"></span> the present val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he def<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>ed ben<span class=\"_ _2\"></span>ef<span class=\"_ _2\"></span>it ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns as at 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span><table class=\"s w5f8 h268\" id=\"_63b15651-ed93-40b7-8b04-932c18b4cc5b\"><tr><td></td><td></td><td></td><td class=\"t m0 x9f1 h13 y22e6 ff75 fs6 fc1 sc0 lse5 ws125\">(Decrease)/increase<span class=\"_ _314\"> </span></td></tr><tr><td></td><td></td><td></td><td class=\"c x9f3 y22e7 w5f9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws75\">in scheme obligations</div><div class=\"t m0 x9f2 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x9f4 hb y22e8 ff76 fs6 fc1 sc0 ls7a wsa4\">Change in<span class=\"_ _0\"></span> </td><td class=\"c n x4e9 y22e9 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y22e9 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21fd w5fa h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">Assumption<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x9f5 hb y22ea ff76 fs6 fc1 sc0 ls41 ws56\">assumption<span class=\"_ _314\"> </span></td><td class=\"c n x9f6 y21fd w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x9f7 y21fd w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w5fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Discount rate<span class=\"_ _314\"> </span></div></td><td class=\"c n x9f8 y213e w5fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">+<span class=\"_ _2\"></span>0.5%<span class=\"_ _314\"> </span></div></td><td class=\"c n x9f9 y213e w5fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">(103<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fa y213e w5ff h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">(110)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w5e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Price inflation<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fb y2068 w5fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">+<span class=\"_ _2\"></span>0.5%<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fc y2068 w600 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls89 ws79\">56<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fd y2068 w90 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">60<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w601 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Mor<span class=\"_ _2\"></span>talit<span class=\"_ _2\"></span>y rat<span class=\"_ _0\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fe y2069 w602 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 ws98\">+1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ff y2069 w603 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td><td class=\"c n x976 y2069 w105 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls10e ws116\">64<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>The sensitivit<span class=\"_ _2\"></span>y an<span class=\"_ _0\"></span>aly<span class=\"_ _2\"></span>sis<span class=\"_ _0\"></span> may not be<span class=\"_ _0\"></span> representative of an<span class=\"_ _0\"></span> actual change in<span class=\"_ _0\"></span> the scheme obligations as it<span class=\"_ _0\"></span> is unlikely that<span class=\"_ _0\"></span> changes in assumptions<span class=\"_ _0\"></span> would occur in<span class=\"_ _0\"></span> isolation of one<span class=\"_ _0\"></span> another. The analysis is<span class=\"_ _0\"></span> done in a<span class=\"_ _0\"></span> similar way<span class=\"_ _0\"></span> to calculating the scheme<span class=\"_ _0\"></span> obligations recognised in<span class=\"_ _0\"></span> the ba<span class=\"_ _2\"></span>lan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et in t<span class=\"_ _2\"></span>hat i<span class=\"_ _2\"></span>t use<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e proj<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted u<span class=\"_ _2\"></span>nit c<span class=\"_ _2\"></span>red<span class=\"_ _2\"></span>it me<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span>od at t<span class=\"_ _2\"></span>he en<span class=\"_ _2\"></span>d of th<span class=\"_ _2\"></span>e yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>Risks for the<span class=\"_ _0\"></span> def<span class=\"_ _2\"></span>ined benefit schemes<span class=\"_ _314\"> </span>An increase in<span class=\"_ _0\"></span> pension liabilities could lead<span class=\"_ _0\"></span> to an incr<span class=\"_ _0\"></span>ease in the pension<span class=\"_ _314\"> </span>deficit or a reduction in any surplus. Defined benefit schemes are<span class=\"_ _314\"> </span>normally revalued by<span class=\"_ _0\"></span> ac<span class=\"_ _2\"></span>tuaries e<span class=\"_ _0\"></span>ver<span class=\"_ _2\"></span>y three y<span class=\"_ _0\"></span>ears<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Where any material<span class=\"_ _314\"> </span>fu<span class=\"_ _2\"></span>ndin<span class=\"_ _2\"></span>g gap is i<span class=\"_ _2\"></span>den<span class=\"_ _2\"></span>tif<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>is proc<span class=\"_ _2\"></span>ess<span class=\"_ _2\"></span>, the T<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ust<span class=\"_ _2\"></span>ees w<span class=\"_ _2\"></span>ill ag<span class=\"_ _2\"></span>ree a<span class=\"_ _314\"> </span>schedule of c<span class=\"_ _0\"></span>ontr<span class=\"_ _2\"></span>ibutions and r<span class=\"_ _0\"></span>ecover<span class=\"_ _2\"></span>y plan<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h the s<span class=\"_ _0\"></span>ponsor company<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Such contributions would have a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> impac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> on the Group.<span class=\"_ _314\"> </span>Pension risk<span class=\"_ _0\"></span> arises from the potential deficit in the defined benefit<span class=\"_ _314\"> </span>pension schemes due<span class=\"_ _0\"></span> to a number<span class=\"_ _0\"></span> of factor<span class=\"_ _2\"></span>s. Some<span class=\"_ _0\"></span> key financial risks<span class=\"_ _314\"> </span>relevant f<span class=\"_ _0\"></span>or defined benef<span class=\"_ _2\"></span>it schemes<span class=\"_ _0\"></span> are:<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">If t<span class=\"_ _2\"></span>here i<span class=\"_ _2\"></span>s a redu<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion in c<span class=\"_ _2\"></span>orp<span class=\"_ _2\"></span>orate b<span class=\"_ _2\"></span>ond y<span class=\"_ _2\"></span>iel<span class=\"_ _2\"></span>ds. T<span class=\"_ _2\"></span>his in<span class=\"_ _2\"></span>creas<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span></span>the scheme\u2019<span class=\"_ _0\"></span>s liabilities which may<span class=\"_ _0\"></span> not be accompanied<span class=\"_ _0\"></span> by<span class=\"_ _314\"> </span>a corresponding<span class=\"_ _0\"></span> increase in the schemes<span class=\"_ _0\"></span>\u2019 assets.<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">If investment returns are<span class=\"_ _0\"></span> lower than assumed.<span class=\"_ _314\"> </span></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">If i<span class=\"_ _2\"></span>nf<span class=\"_ _2\"></span>lati<span class=\"_ _2\"></span>on is hi<span class=\"_ _2\"></span>ghe<span class=\"_ _2\"></span>r than e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d, or av<span class=\"_ _2\"></span>erag<span class=\"_ _2\"></span>e inf<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>ion ex<span class=\"_ _2\"></span>pe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons<span class=\"_ _314\"> </span></span>increase.<span class=\"_ _0\"></span> This will increase the li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> through higher indexing of<span class=\"_ _314\"> </span>pension pa<span class=\"_ _0\"></span>yment<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">If members live longer than e<span class=\"_ _0\"></span>xp<span class=\"_ _2\"></span>ected. This would<span class=\"_ _0\"></span> increase the length<span class=\"_ _314\"> </span></span>of t<span class=\"_ _2\"></span>ime for w<span class=\"_ _2\"></span>hich p<span class=\"_ _2\"></span>ens<span class=\"_ _2\"></span>ions h<span class=\"_ _2\"></span>ave to be p<span class=\"_ _2\"></span>aid.<span class=\"_ _314\"> </span>The Group is<span class=\"_ _0\"></span> exposed to the creditwor<span class=\"_ _2\"></span>thiness of the buy-in insurance<span class=\"_ _314\"> </span>providers. A failure o<span class=\"_ _0\"></span>f the buy-<span class=\"_ _2\"></span>in ins<span class=\"_ _0\"></span>urance provider would r<span class=\"_ _0\"></span>educe the<span class=\"_ _314\"> </span>pe<span class=\"_ _2\"></span>nsion a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d coul<span class=\"_ _2\"></span>d lead t<span class=\"_ _2\"></span>o a pens<span class=\"_ _2\"></span>ion def<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>it ma<span class=\"_ _2\"></span>teria<span class=\"_ _2\"></span>lisi<span class=\"_ _2\"></span>ng, o<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>an increase<span class=\"_ _0\"></span> in the pension deficit<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> and the need for c<span class=\"_ _0\"></span>ontr<span class=\"_ _2\"></span>ibutions from<span class=\"_ _314\"> </span>the Group.<span class=\"_ _314\"> </span>Risk management approach<span class=\"_ _314\"> </span>Du<span class=\"_ _2\"></span>e to the b<span class=\"_ _2\"></span>road<span class=\"_ _2\"></span>ly fu<span class=\"_ _2\"></span>ll bu<span class=\"_ _2\"></span>y-<span class=\"_ _2\"></span>ins in p<span class=\"_ _2\"></span>lace fo<span class=\"_ _2\"></span>r the L<span class=\"_ _2\"></span>SEG<span class=\"_ _2\"></span>PS a<span class=\"_ _2\"></span>nd SP<span class=\"_ _2\"></span>S and<span class=\"_ _314\"> </span>par<span class=\"_ _2\"></span>tial buy-in in place<span class=\"_ _0\"></span> for the RPF<span class=\"_ _0\"></span>, changes<span class=\"_ _0\"></span> in the present value<span class=\"_ _0\"></span> of the<span class=\"_ _314\"> </span>insured liabilities ar<span class=\"_ _0\"></span>e broadly matched by<span class=\"_ _0\"></span> the asset held (i.e.,<span class=\"_ _0\"></span> most of<span class=\"_ _314\"> </span>th<span class=\"_ _2\"></span>e risk<span class=\"_ _2\"></span>s note<span class=\"_ _2\"></span>d abov<span class=\"_ _2\"></span>e are hed<span class=\"_ _2\"></span>ged<span class=\"_ _2\"></span>).<span class=\"_ _314\"> </span>In addition, the RPF holds other liabilit<span class=\"_ _2\"></span>y-matching assets which are<span class=\"_ _314\"> </span>intended to<span class=\"_ _0\"></span> hedge movements in expected interest rates and<span class=\"_ _0\"></span> inf<span class=\"_ _2\"></span>lation.<span class=\"_ _314\"> </span>The R<span class=\"_ _2\"></span>PF ho<span class=\"_ _2\"></span>lds a r<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>e of liqu<span class=\"_ _2\"></span>id as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t can b<span class=\"_ _2\"></span>e sold fo<span class=\"_ _2\"></span>r use a<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>collateral f<span class=\"_ _0\"></span>or these liabilit<span class=\"_ _2\"></span>y-matching assets, if required.<span class=\"_ _314\"> </span>Future<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it pa<span class=\"_ _0\"></span>yment<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>The following table<span class=\"_ _0\"></span> provides expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it payments under the<span class=\"_ _314\"> </span>Group\u2019<span class=\"_ _0\"></span>s Large UK schemes<span class=\"_ _0\"></span> as at 31 December:<span class=\"_ _314\"> </span><table class=\"s w604 h269\" id=\"_82e8d8e1-af7d-44f9-a256-da2be2491b6a\"><tr><td></td><td class=\"c n x4e9 y22cf w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y22cf w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y22d1 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w605 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Les<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>n 1 year<span class=\"_ _314\"> </span></div></td><td class=\"c n xa00 y22d9 w15b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">111<span class=\"_ _314\"> </span></div></td><td class=\"c n xa01 y22d9 w40a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">106<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22eb w606 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Bet<span class=\"_ _2\"></span>we<span class=\"_ _2\"></span>en 1 an<span class=\"_ _2\"></span>d 2 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xa02 y22eb w607 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">113<span class=\"_ _314\"> </span></div></td><td class=\"c n xa03 y22eb w608 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls75 ws9e\">110<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w609 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Bet<span class=\"_ _2\"></span>we<span class=\"_ _2\"></span>en 2 an<span class=\"_ _2\"></span>d 5 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xa04 y2288 w2a8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">360<span class=\"_ _314\"> </span></div></td><td class=\"c n xa05 y2288 w60a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">350<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w60b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ov<span class=\"_ _2\"></span>er 5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xa06 y228f wb9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">656<span class=\"_ _314\"> </span></div></td><td class=\"c n xa07 y228f w13b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">652<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w60c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> benefit payments<span class=\"_ _314\"> </span></div></td><td class=\"c n xa08 y2069 w60d h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">1<span class=\"_ _2\"></span>,24<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xa09 h193 y22ec ff76 fs129 fc1 sc0 lsa8 wsd5\">1,21<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></td></tr></table>The w<span class=\"_ _2\"></span>eigh<span class=\"_ _2\"></span>ted ave<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>e dura<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of the d<span class=\"_ _2\"></span>ef<span class=\"_ _2\"></span>ined b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t obli<span class=\"_ _2\"></span>gat<span class=\"_ _2\"></span>ions a<span class=\"_ _2\"></span>s at<span class=\"_ _314\"> </span>31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2025 is 12 ye<span class=\"_ _2\"></span>ars (<span class=\"_ _2\"></span>202<span class=\"_ _0\"></span>4: 12 yea<span class=\"_ _2\"></span>rs).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-524": {
   "value": "5. Financ<span class=\"_ _0\"></span>e incom<span class=\"_ _0\"></span>e and costs, and other gains<span class=\"_ _314\"> </span>Finance income includes<span class=\"_ _0\"></span> interest on cas<span class=\"_ _0\"></span>h deposits<span class=\"_ _2\"></span>, gains on<span class=\"_ _0\"></span> redemption<span class=\"_ _314\"> </span>of bo<span class=\"_ _2\"></span>rrowi<span class=\"_ _2\"></span>ngs and i<span class=\"_ _2\"></span>nterest i<span class=\"_ _2\"></span>ncome o<span class=\"_ _2\"></span>n retir<span class=\"_ _2\"></span>ement b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it as<span class=\"_ _2\"></span>sets<span class=\"_ _2\"></span>. Fina<span class=\"_ _2\"></span>nce<span class=\"_ _314\"> </span>costs include intere<span class=\"_ _0\"></span>st on borrowings and derivative f<span class=\"_ _2\"></span>inancial instruments<span class=\"_ _314\"> </span>as we<span class=\"_ _2\"></span>ll as lea<span class=\"_ _2\"></span>se interes<span class=\"_ _2\"></span>t expe<span class=\"_ _2\"></span>nse. Fo<span class=\"_ _2\"></span>reign exc<span class=\"_ _2\"></span>hange g<span class=\"_ _2\"></span>ains o<span class=\"_ _2\"></span>r losses<span class=\"_ _314\"> </span>ass<span class=\"_ _2\"></span>ocia<span class=\"_ _2\"></span>ted wit<span class=\"_ _2\"></span>h corp<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>te treasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y trans<span class=\"_ _2\"></span>act<span class=\"_ _2\"></span>ions an<span class=\"_ _2\"></span>d othe<span class=\"_ _2\"></span>r borro<span class=\"_ _2\"></span>wing<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>are also incl<span class=\"_ _0\"></span>uded wit<span class=\"_ _2\"></span>hin finance income or<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance costs. Gains on digital<span class=\"_ _314\"> </span>and re<span class=\"_ _2\"></span>lated a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s are prese<span class=\"_ _2\"></span>nted sep<span class=\"_ _2\"></span>arate<span class=\"_ _2\"></span>ly on th<span class=\"_ _2\"></span>e incom<span class=\"_ _2\"></span>e statem<span class=\"_ _2\"></span>ent.<span class=\"_ _314\"> </span>5.1 Finan<span class=\"_ _2\"></span>ce incom<span class=\"_ _2\"></span>e and f<span class=\"_ _2\"></span>inance co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>The accounting policies<span class=\"_ _0\"></span> for the following<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> income and finance<span class=\"_ _314\"> </span>cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are described in the r<span class=\"_ _0\"></span>elevant notes t<span class=\"_ _0\"></span>o the financial st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w351 h23b\" id=\"_5cd83fbd-eee9-4289-a1ad-de13e1b51675\"><tr><td></td><td class=\"t m2 x60b hb y21ab ff71 fs6 fc1 sc0 ls9e wsca\">Note</td><td></td></tr><tr><td class=\"t m2 x60c h193 y21ac ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income on<span class=\"_ _0\"></span> retirement</span><span class=\"ls6c ws7e\"> </span></td><td class=\"c n x60d y21ad w210 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x60e y21ad w352 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pension and<span class=\"_ _0\"></span> other<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x60f h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td class=\"t m2 x610 h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it </td></tr><tr><td class=\"t m2 x60c h193 y21af ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on retirement</span><span class=\"ls6c ws7e\"> </span></td><td></td><td class=\"t m2 x610 h193 y21af ff71 fs129 fc1 sc0 ls6c ws96\">schemes<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m2 x60f h193 y21b0 ff71 fs129 fc1 sc0 ls76 ws5\">benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligat<span class=\"_ _2\"></span>ions<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b1 w353 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Interest on borro<span class=\"_ _0\"></span>wings<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x611 y21b1 w354 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x612 y21b1 w355 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">B<span class=\"_ _2\"></span>orro<span class=\"_ _0\"></span>wings</div></td></tr><tr><td class=\"t m2 x60c h193 y21b2 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></td><td class=\"c n x613 y212d w356 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x614 y212d w357 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Lease<span class=\"_ _0\"></span> liabilities and net</div></td></tr><tr><td class=\"t m2 x60c h193 y21b3 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span></td><td></td><td class=\"t m2 x610 h193 y21b3 ff71 fs129 fc1 sc0 ls76 ws5\">investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> leases<span class=\"_ _314\"> </span></td></tr></table>Interest earned on cash<span class=\"_ _0\"></span> deposited wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties<span class=\"_ _314\"> </span>and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le on bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, wh<span class=\"_ _2\"></span>ich ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e agre<span class=\"_ _2\"></span>ed<span class=\"_ _314\"> </span>market-based or c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ractual rate f<span class=\"_ _0\"></span>or each transact<span class=\"_ _2\"></span>ion, ar<span class=\"_ _0\"></span>e calculated<span class=\"_ _314\"> </span>using the effect<span class=\"_ _2\"></span>ive int<span class=\"_ _0\"></span>erest method. Interest payable on bank<span class=\"_ _314\"> </span>and other borrowings is<span class=\"_ _0\"></span> presented net of<span class=\"_ _0\"></span> hedging derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _314\"> </span>Recurring fees and<span class=\"_ _0\"></span> charges levied on c<span class=\"_ _0\"></span>ommit<span class=\"_ _2\"></span>ted bank facilities,<span class=\"_ _314\"> </span>cash management transact<span class=\"_ _2\"></span>ions and<span class=\"_ _0\"></span> the payment ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span>prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s bank<span class=\"_ _2\"></span>s are cha<span class=\"_ _2\"></span>rged a<span class=\"_ _2\"></span>s accr<span class=\"_ _2\"></span>ued in o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>finance expenses. Credit facilit<span class=\"_ _2\"></span>y arrangement f<span class=\"_ _0\"></span>ees are capitalised<span class=\"_ _314\"> </span>and then amort<span class=\"_ _2\"></span>ised ov<span class=\"_ _0\"></span>er the term of<span class=\"_ _0\"></span> the facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><div class=\"gse3\"><table class=\"s w390 h23f\" id=\"_b08d4616-baa8-4b72-8134-e9dbae60260c\"><tr><td></td><td></td><td class=\"c n x649 y21be w26f h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x64a y21be w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x64b y21bf w33 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x64c y21bf w34 h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x64d y21bf w35 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x237 h187 y21c0 ff72 fs129 fc1 sc0 ls6d wsd4\">Finance inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m2 x237 h193 y21c1 ff71 fs129 fc1 sc0 ls6c ws7e\">Financial assets measured<span class=\"_ _0\"></span> </td><td></td><td></td><td></td></tr><tr><td class=\"t m2 x237 h193 y21c2 ff71 fs129 fc1 sc0 ls6a ws3\">at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed c<span class=\"_ _2\"></span>ost<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21c3 w391 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Bank deposit and other int<span class=\"_ _0\"></span>erest income<span class=\"_ _314\"> </span></span></div></td><td></td><td class=\"c n x64e y21c3 w392 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td><td class=\"c n x64f y21c3 w393 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>45<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21c4 w394 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></div></td><td></td><td class=\"c n x650 y21c4 w55 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x651 y21c4 w2df h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21c5 w395 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther finance inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></div></td><td></td><td class=\"c n x652 y21c5 w55 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x653 y21c5 w2df h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21c6 w396 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Gain on<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>tial re<span class=\"_ _0\"></span>purchase of<span class=\"_ _0\"></span> bond<span class=\"_ _314\"> </span></div></td><td class=\"c n x654 y21c6 w397 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x655 y21c6 w398 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">23<span class=\"_ _314\"> </span></div></td><td class=\"c n x656 y21c6 w399 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb9 wse9\">24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y21c7 w39a h226\"><div class=\"t m2 x1e4 h193 y2116 ff71 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness on fair<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">value hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n x657 y21c7 w39b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>c<span class=\"_ _314\"> </span></div></td><td class=\"c n x658 y21c7 w3e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x659 y21c7 w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x237 h193 y21c8 ff71 fs129 fc1 sc0 ls76 ws5\">Fair value<span class=\"_ _0\"></span> gain on derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial </td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y21c9 w39c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">instrumen<span class=\"_ _2\"></span>ts not<span class=\"_ _0\"></span> designated as hedges<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x65a y21c9 w17c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td><td class=\"c n x65b y21c9 w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x237 h193 y21ca ff71 fs129 fc1 sc0 ls6c ws7e\">Net inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> income on net<span class=\"_ _0\"></span> retirement </td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y21cb w39d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x65c y21cb w39e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">12.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x65d y21cb w39f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x65e y21cb w20a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x65f y21cc w3a0 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">153<span class=\"_ _314\"> </span></div></td><td class=\"c n x660 y21cc w3a1 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">1<span class=\"_ _2\"></span>75<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x237 h187 y21cd ff72 fs129 fc1 sc0 ls6d wsd4\">Finance c<span class=\"_ _0\"></span>ost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m2 x237 h193 y21ce ff71 fs129 fc1 sc0 ls6c ws7e\">Financial liabilities measur<span class=\"_ _0\"></span>ed </td><td></td><td></td><td></td></tr><tr><td class=\"t m2 x237 h193 y21cf ff71 fs129 fc1 sc0 ls6a ws3\">at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed c<span class=\"_ _2\"></span>ost<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y21d1 w3a2 h240\"><div class=\"t m2 x1e4 h193 y21d0 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest payable on bank<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></span></div><div class=\"t m2 x661 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">borrowings<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x662 y21d1 w3a3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls72 ws9b\">(276<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x663 y21d1 w3a4 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">(2<span class=\"_ _0\"></span>88)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21d2 w3a5 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x664 y21d2 w356 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x665 y21d2 w3a6 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n x666 y21d2 w3a7 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(20<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21d3 w3a8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther finance e<span class=\"_ _0\"></span>xpenses<span class=\"_ _314\"> </span></span></div></td><td></td><td class=\"c n x365 y21d3 w8f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n x667 y21d3 w3a9 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">(17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x237 h193 y21d4 ff71 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments </td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y21d5 w3aa h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">interest expense<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x668 y21d5 w3ab h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">(28)<span class=\"_ _314\"> </span></div></td><td class=\"c n x669 y21d5 w3ac h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa9 ws7e\">(<span class=\"_ _2\"></span>31)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y21d6 w39a h22d\"><div class=\"t m2 x1e4 h193 y2159 ff71 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness on fair<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">value hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n x657 y21d6 w39b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>c<span class=\"_ _314\"> </span></div></td><td class=\"c n x658 y21d6 w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x66a y21d6 w3ad h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x237 h193 y21d7 ff71 fs129 fc1 sc0 ls6c ws7e\">Fair value<span class=\"_ _0\"></span> loss on derivative financial </td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y21d8 w39c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">instrumen<span class=\"_ _2\"></span>ts not<span class=\"_ _0\"></span> designated as hedges<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x66b y21d8 w3ae h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 wsbf\">(4)<span class=\"_ _314\"> </span></div></td><td class=\"c n x66c y21d8 w19f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsac wsd7\">(8)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21d9 w3af h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Foreign ex<span class=\"_ _0\"></span>change losses<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x66d y21d9 wa0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x66e y21d9 w3b0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">(15)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x66f y21da w3b1 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsac wsd7\">(340)<span class=\"_ _314\"> </span></div></td><td class=\"c n x670 y21da w3b2 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">(380)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w72 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">Net finance costs<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x671 y2069 w3b3 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>87)<span class=\"_ _314\"> </span></div></td><td class=\"c n x672 y2069 w3b4 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">(<span class=\"_ _2\"></span>205)</div></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-540": {
   "value": "5. Financ<span class=\"_ _0\"></span>e incom<span class=\"_ _0\"></span>e and costs, and other gains<span class=\"_ _314\"> </span>Finance income includes<span class=\"_ _0\"></span> interest on cas<span class=\"_ _0\"></span>h deposits<span class=\"_ _2\"></span>, gains on<span class=\"_ _0\"></span> redemption<span class=\"_ _314\"> </span>of bo<span class=\"_ _2\"></span>rrowi<span class=\"_ _2\"></span>ngs and i<span class=\"_ _2\"></span>nterest i<span class=\"_ _2\"></span>ncome o<span class=\"_ _2\"></span>n retir<span class=\"_ _2\"></span>ement b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it as<span class=\"_ _2\"></span>sets<span class=\"_ _2\"></span>. Fina<span class=\"_ _2\"></span>nce<span class=\"_ _314\"> </span>costs include intere<span class=\"_ _0\"></span>st on borrowings and derivative f<span class=\"_ _2\"></span>inancial instruments<span class=\"_ _314\"> </span>as we<span class=\"_ _2\"></span>ll as lea<span class=\"_ _2\"></span>se interes<span class=\"_ _2\"></span>t expe<span class=\"_ _2\"></span>nse. Fo<span class=\"_ _2\"></span>reign exc<span class=\"_ _2\"></span>hange g<span class=\"_ _2\"></span>ains o<span class=\"_ _2\"></span>r losses<span class=\"_ _314\"> </span>ass<span class=\"_ _2\"></span>ocia<span class=\"_ _2\"></span>ted wit<span class=\"_ _2\"></span>h corp<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>te treasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y trans<span class=\"_ _2\"></span>act<span class=\"_ _2\"></span>ions an<span class=\"_ _2\"></span>d othe<span class=\"_ _2\"></span>r borro<span class=\"_ _2\"></span>wing<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>are also incl<span class=\"_ _0\"></span>uded wit<span class=\"_ _2\"></span>hin finance income or<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance costs. Gains on digital<span class=\"_ _314\"> </span>and re<span class=\"_ _2\"></span>lated a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s are prese<span class=\"_ _2\"></span>nted sep<span class=\"_ _2\"></span>arate<span class=\"_ _2\"></span>ly on th<span class=\"_ _2\"></span>e incom<span class=\"_ _2\"></span>e statem<span class=\"_ _2\"></span>ent.<span class=\"_ _314\"> </span>5.1 Finan<span class=\"_ _2\"></span>ce incom<span class=\"_ _2\"></span>e and f<span class=\"_ _2\"></span>inance co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>The accounting policies<span class=\"_ _0\"></span> for the following<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> income and finance<span class=\"_ _314\"> </span>cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are described in the r<span class=\"_ _0\"></span>elevant notes t<span class=\"_ _0\"></span>o the financial st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w351 h23b\" id=\"_5cd83fbd-eee9-4289-a1ad-de13e1b51675\"><tr><td></td><td class=\"t m2 x60b hb y21ab ff71 fs6 fc1 sc0 ls9e wsca\">Note</td><td></td></tr><tr><td class=\"t m2 x60c h193 y21ac ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income on<span class=\"_ _0\"></span> retirement</span><span class=\"ls6c ws7e\"> </span></td><td class=\"c n x60d y21ad w210 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x60e y21ad w352 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pension and<span class=\"_ _0\"></span> other<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x60f h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td class=\"t m2 x610 h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it </td></tr><tr><td class=\"t m2 x60c h193 y21af ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on retirement</span><span class=\"ls6c ws7e\"> </span></td><td></td><td class=\"t m2 x610 h193 y21af ff71 fs129 fc1 sc0 ls6c ws96\">schemes<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m2 x60f h193 y21b0 ff71 fs129 fc1 sc0 ls76 ws5\">benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligat<span class=\"_ _2\"></span>ions<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b1 w353 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Interest on borro<span class=\"_ _0\"></span>wings<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x611 y21b1 w354 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x612 y21b1 w355 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">B<span class=\"_ _2\"></span>orro<span class=\"_ _0\"></span>wings</div></td></tr><tr><td class=\"t m2 x60c h193 y21b2 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></td><td class=\"c n x613 y212d w356 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x614 y212d w357 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Lease<span class=\"_ _0\"></span> liabilities and net</div></td></tr><tr><td class=\"t m2 x60c h193 y21b3 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span></td><td></td><td class=\"t m2 x610 h193 y21b3 ff71 fs129 fc1 sc0 ls76 ws5\">investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> leases<span class=\"_ _314\"> </span></td></tr></table>Interest earned on cash<span class=\"_ _0\"></span> deposited wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties<span class=\"_ _314\"> </span>and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le on bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, wh<span class=\"_ _2\"></span>ich ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e agre<span class=\"_ _2\"></span>ed<span class=\"_ _314\"> </span>market-based or c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ractual rate f<span class=\"_ _0\"></span>or each transact<span class=\"_ _2\"></span>ion, ar<span class=\"_ _0\"></span>e calculated<span class=\"_ _314\"> </span>using the effect<span class=\"_ _2\"></span>ive int<span class=\"_ _0\"></span>erest method. Interest payable on bank<span class=\"_ _314\"> </span>and other borrowings is<span class=\"_ _0\"></span> presented net of<span class=\"_ _0\"></span> hedging derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _314\"> </span>Recurring fees and<span class=\"_ _0\"></span> charges levied on c<span class=\"_ _0\"></span>ommit<span class=\"_ _2\"></span>ted bank facilities,<span class=\"_ _314\"> </span>cash management transact<span class=\"_ _2\"></span>ions and<span class=\"_ _0\"></span> the payment ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span>prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s bank<span class=\"_ _2\"></span>s are cha<span class=\"_ _2\"></span>rged a<span class=\"_ _2\"></span>s accr<span class=\"_ _2\"></span>ued in o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>finance expenses. Credit facilit<span class=\"_ _2\"></span>y arrangement f<span class=\"_ _0\"></span>ees are capitalised<span class=\"_ _314\"> </span>and then amort<span class=\"_ _2\"></span>ised ov<span class=\"_ _0\"></span>er the term of<span class=\"_ _0\"></span> the facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><table class=\"s w390 h23f\" id=\"_b08d4616-baa8-4b72-8134-e9dbae60260c\"><tr><td></td><td></td><td class=\"c n x649 y21be w26f h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x64a y21be w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x64b y21bf w33 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x64c y21bf w34 h21b\"><div class=\"t m2 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x64d y21bf w35 h21b\"><div class=\"t m2 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x237 h187 y21c0 ff72 fs129 fc1 sc0 ls6d wsd4\">Finance inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m2 x237 h193 y21c1 ff71 fs129 fc1 sc0 ls6c ws7e\">Financial assets measured<span class=\"_ _0\"></span> </td><td></td><td></td><td></td></tr><tr><td class=\"t m2 x237 h193 y21c2 ff71 fs129 fc1 sc0 ls6a ws3\">at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed c<span class=\"_ _2\"></span>ost<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21c3 w391 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Bank deposit and other int<span class=\"_ _0\"></span>erest income<span class=\"_ _314\"> </span></span></div></td><td></td><td class=\"c n x64e y21c3 w392 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td><td class=\"c n x64f y21c3 w393 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>45<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21c4 w394 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></div></td><td></td><td class=\"c n x650 y21c4 w55 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x651 y21c4 w2df h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21c5 w395 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther finance inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></div></td><td></td><td class=\"c n x652 y21c5 w55 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x653 y21c5 w2df h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21c6 w396 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Gain on<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>tial re<span class=\"_ _0\"></span>purchase of<span class=\"_ _0\"></span> bond<span class=\"_ _314\"> </span></div></td><td class=\"c n x654 y21c6 w397 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x655 y21c6 w398 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">23<span class=\"_ _314\"> </span></div></td><td class=\"c n x656 y21c6 w399 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb9 wse9\">24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y21c7 w39a h226\"><div class=\"t m2 x1e4 h193 y2116 ff71 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness on fair<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">value hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n x657 y21c7 w39b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>c<span class=\"_ _314\"> </span></div></td><td class=\"c n x658 y21c7 w3e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x659 y21c7 w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x237 h193 y21c8 ff71 fs129 fc1 sc0 ls76 ws5\">Fair value<span class=\"_ _0\"></span> gain on derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial </td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y21c9 w39c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">instrumen<span class=\"_ _2\"></span>ts not<span class=\"_ _0\"></span> designated as hedges<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x65a y21c9 w17c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td><td class=\"c n x65b y21c9 w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x237 h193 y21ca ff71 fs129 fc1 sc0 ls6c ws7e\">Net inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> income on net<span class=\"_ _0\"></span> retirement </td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y21cb w39d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x65c y21cb w39e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">12.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x65d y21cb w39f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x65e y21cb w20a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x65f y21cc w3a0 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">153<span class=\"_ _314\"> </span></div></td><td class=\"c n x660 y21cc w3a1 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">1<span class=\"_ _2\"></span>75<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x237 h187 y21cd ff72 fs129 fc1 sc0 ls6d wsd4\">Finance c<span class=\"_ _0\"></span>ost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m2 x237 h193 y21ce ff71 fs129 fc1 sc0 ls6c ws7e\">Financial liabilities measur<span class=\"_ _0\"></span>ed </td><td></td><td></td><td></td></tr><tr><td class=\"t m2 x237 h193 y21cf ff71 fs129 fc1 sc0 ls6a ws3\">at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed c<span class=\"_ _2\"></span>ost<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y21d1 w3a2 h240\"><div class=\"t m2 x1e4 h193 y21d0 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest payable on bank<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></span></div><div class=\"t m2 x661 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">borrowings<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x662 y21d1 w3a3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls72 ws9b\">(276<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x663 y21d1 w3a4 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">(2<span class=\"_ _0\"></span>88)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21d2 w3a5 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x664 y21d2 w356 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x665 y21d2 w3a6 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n x666 y21d2 w3a7 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(20<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21d3 w3a8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther finance e<span class=\"_ _0\"></span>xpenses<span class=\"_ _314\"> </span></span></div></td><td></td><td class=\"c n x365 y21d3 w8f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n x667 y21d3 w3a9 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">(17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x237 h193 y21d4 ff71 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments </td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y21d5 w3aa h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">interest expense<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x668 y21d5 w3ab h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">(28)<span class=\"_ _314\"> </span></div></td><td class=\"c n x669 y21d5 w3ac h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa9 ws7e\">(<span class=\"_ _2\"></span>31)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y21d6 w39a h22d\"><div class=\"t m2 x1e4 h193 y2159 ff71 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness on fair<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">value hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n x657 y21d6 w39b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>c<span class=\"_ _314\"> </span></div></td><td class=\"c n x658 y21d6 w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x66a y21d6 w3ad h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x237 h193 y21d7 ff71 fs129 fc1 sc0 ls6c ws7e\">Fair value<span class=\"_ _0\"></span> loss on derivative financial </td><td></td><td></td><td></td></tr><tr><td class=\"c n x231 y21d8 w39c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">instrumen<span class=\"_ _2\"></span>ts not<span class=\"_ _0\"></span> designated as hedges<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x66b y21d8 w3ae h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 wsbf\">(4)<span class=\"_ _314\"> </span></div></td><td class=\"c n x66c y21d8 w19f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsac wsd7\">(8)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21d9 w3af h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Foreign ex<span class=\"_ _0\"></span>change losses<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x66d y21d9 wa0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x66e y21d9 w3b0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">(15)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x66f y21da w3b1 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsac wsd7\">(340)<span class=\"_ _314\"> </span></div></td><td class=\"c n x670 y21da w3b2 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">(380)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w72 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">Net finance costs<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x671 y2069 w3b3 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>87)<span class=\"_ _314\"> </span></div></td><td class=\"c n x672 y2069 w3b4 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">(<span class=\"_ _2\"></span>205)</div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-558": {
   "value": "5. Financ<span class=\"_ _0\"></span>e incom<span class=\"_ _0\"></span>e and costs, and other gains<span class=\"_ _314\"> </span>Finance income includes<span class=\"_ _0\"></span> interest on cas<span class=\"_ _0\"></span>h deposits<span class=\"_ _2\"></span>, gains on<span class=\"_ _0\"></span> redemption<span class=\"_ _314\"> </span>of bo<span class=\"_ _2\"></span>rrowi<span class=\"_ _2\"></span>ngs and i<span class=\"_ _2\"></span>nterest i<span class=\"_ _2\"></span>ncome o<span class=\"_ _2\"></span>n retir<span class=\"_ _2\"></span>ement b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it as<span class=\"_ _2\"></span>sets<span class=\"_ _2\"></span>. Fina<span class=\"_ _2\"></span>nce<span class=\"_ _314\"> </span>costs include intere<span class=\"_ _0\"></span>st on borrowings and derivative f<span class=\"_ _2\"></span>inancial instruments<span class=\"_ _314\"> </span>as we<span class=\"_ _2\"></span>ll as lea<span class=\"_ _2\"></span>se interes<span class=\"_ _2\"></span>t expe<span class=\"_ _2\"></span>nse. Fo<span class=\"_ _2\"></span>reign exc<span class=\"_ _2\"></span>hange g<span class=\"_ _2\"></span>ains o<span class=\"_ _2\"></span>r losses<span class=\"_ _314\"> </span>ass<span class=\"_ _2\"></span>ocia<span class=\"_ _2\"></span>ted wit<span class=\"_ _2\"></span>h corp<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>te treasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y trans<span class=\"_ _2\"></span>act<span class=\"_ _2\"></span>ions an<span class=\"_ _2\"></span>d othe<span class=\"_ _2\"></span>r borro<span class=\"_ _2\"></span>wing<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>are also incl<span class=\"_ _0\"></span>uded wit<span class=\"_ _2\"></span>hin finance income or<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance costs. Gains on digital<span class=\"_ _314\"> </span>and re<span class=\"_ _2\"></span>lated a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s are prese<span class=\"_ _2\"></span>nted sep<span class=\"_ _2\"></span>arate<span class=\"_ _2\"></span>ly on th<span class=\"_ _2\"></span>e incom<span class=\"_ _2\"></span>e statem<span class=\"_ _2\"></span>ent.<span class=\"_ _314\"> </span>5.1 Finan<span class=\"_ _2\"></span>ce incom<span class=\"_ _2\"></span>e and f<span class=\"_ _2\"></span>inance co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>The accounting policies<span class=\"_ _0\"></span> for the following<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> income and finance<span class=\"_ _314\"> </span>cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are described in the r<span class=\"_ _0\"></span>elevant notes t<span class=\"_ _0\"></span>o the financial st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w351 h23b\" id=\"_5cd83fbd-eee9-4289-a1ad-de13e1b51675\"><tr><td></td><td class=\"t m2 x60b hb y21ab ff71 fs6 fc1 sc0 ls9e wsca\">Note</td><td></td></tr><tr><td class=\"t m2 x60c h193 y21ac ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income on<span class=\"_ _0\"></span> retirement</span><span class=\"ls6c ws7e\"> </span></td><td class=\"c n x60d y21ad w210 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x60e y21ad w352 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pension and<span class=\"_ _0\"></span> other<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x60f h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td class=\"t m2 x610 h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it </td></tr><tr><td class=\"t m2 x60c h193 y21af ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on retirement</span><span class=\"ls6c ws7e\"> </span></td><td></td><td class=\"t m2 x610 h193 y21af ff71 fs129 fc1 sc0 ls6c ws96\">schemes<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m2 x60f h193 y21b0 ff71 fs129 fc1 sc0 ls76 ws5\">benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligat<span class=\"_ _2\"></span>ions<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b1 w353 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Interest on borro<span class=\"_ _0\"></span>wings<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x611 y21b1 w354 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x612 y21b1 w355 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">B<span class=\"_ _2\"></span>orro<span class=\"_ _0\"></span>wings</div></td></tr><tr><td class=\"t m2 x60c h193 y21b2 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></td><td class=\"c n x613 y212d w356 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x614 y212d w357 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Lease<span class=\"_ _0\"></span> liabilities and net</div></td></tr><tr><td class=\"t m2 x60c h193 y21b3 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span></td><td></td><td class=\"t m2 x610 h193 y21b3 ff71 fs129 fc1 sc0 ls76 ws5\">investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> leases<span class=\"_ _314\"> </span></td></tr></table>Interest earned on cash<span class=\"_ _0\"></span> deposited wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties<span class=\"_ _314\"> </span>and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le on bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, wh<span class=\"_ _2\"></span>ich ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e agre<span class=\"_ _2\"></span>ed<span class=\"_ _314\"> </span>market-based or c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ractual rate f<span class=\"_ _0\"></span>or each transact<span class=\"_ _2\"></span>ion, ar<span class=\"_ _0\"></span>e calculated<span class=\"_ _314\"> </span>using the effect<span class=\"_ _2\"></span>ive int<span class=\"_ _0\"></span>erest method. Interest payable on bank<span class=\"_ _314\"> </span>and other borrowings is<span class=\"_ _0\"></span> presented net of<span class=\"_ _0\"></span> hedging derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _314\"> </span>Recurring fees and<span class=\"_ _0\"></span> charges levied on c<span class=\"_ _0\"></span>ommit<span class=\"_ _2\"></span>ted bank facilities,<span class=\"_ _314\"> </span>cash management transact<span class=\"_ _2\"></span>ions and<span class=\"_ _0\"></span> the payment ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span>prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s bank<span class=\"_ _2\"></span>s are cha<span class=\"_ _2\"></span>rged a<span class=\"_ _2\"></span>s accr<span class=\"_ _2\"></span>ued in o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>finance expenses. Credit facilit<span class=\"_ _2\"></span>y arrangement f<span class=\"_ _0\"></span>ees are capitalised<span class=\"_ _314\"> </span>and then amort<span class=\"_ _2\"></span>ised ov<span class=\"_ _0\"></span>er the term of<span class=\"_ _0\"></span> the facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span>Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>Finance inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span>Financial assets measured<span class=\"_ _0\"></span> at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed c<span class=\"_ _2\"></span>ost<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Bank deposit and other int<span class=\"_ _0\"></span>erest income<span class=\"_ _314\"> </span></span>115<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>45<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span>1<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther finance inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span>1<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>Gain on<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>tial re<span class=\"_ _0\"></span>purchase of<span class=\"_ _0\"></span> bond<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span>23<span class=\"_ _314\"> </span>24<span class=\"_ _314\"> </span>Hedge ineffec<span class=\"_ _2\"></span>tiveness on fair<span class=\"_ _314\"> </span>value hedges<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>c<span class=\"_ _314\"> </span>2<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>Fair value<span class=\"_ _0\"></span> gain on derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial instrumen<span class=\"_ _2\"></span>ts not<span class=\"_ _0\"></span> designated as hedges<span class=\"_ _314\"> </span>6<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>Net inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> income on net<span class=\"_ _0\"></span> retirement benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>12.1<span class=\"_ _314\"> </span>5<span class=\"_ _314\"> </span>4<span class=\"_ _314\"> </span>153<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>75<span class=\"_ _314\"> </span>Finance c<span class=\"_ _0\"></span>ost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Financial liabilities measur<span class=\"_ _0\"></span>ed at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed c<span class=\"_ _2\"></span>ost<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest payable on bank<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></span>borrowings<span class=\"_ _314\"> </span>(276<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>(2<span class=\"_ _0\"></span>88)<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span>16.2<span class=\"_ _314\"> </span>(20)<span class=\"_ _314\"> </span>(20<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther finance e<span class=\"_ _0\"></span>xpenses<span class=\"_ _314\"> </span></span>(11)<span class=\"_ _314\"> </span>(17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments interest expense<span class=\"_ _314\"> </span>(28)<span class=\"_ _314\"> </span>(<span class=\"_ _2\"></span>31)<span class=\"_ _314\"> </span>Hedge ineffec<span class=\"_ _2\"></span>tiveness on fair<span class=\"_ _314\"> </span>value hedges<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>c<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>Fair value<span class=\"_ _0\"></span> loss on derivative financial instrumen<span class=\"_ _2\"></span>ts not<span class=\"_ _0\"></span> designated as hedges<span class=\"_ _314\"> </span>(4)<span class=\"_ _314\"> </span>(8)<span class=\"_ _314\"> </span>Foreign ex<span class=\"_ _0\"></span>change losses<span class=\"_ _314\"> </span>(1)<span class=\"_ _314\"> </span>(15)<span class=\"_ _314\"> </span>(340)<span class=\"_ _314\"> </span>(380)<span class=\"_ _314\"> </span>Net finance costs<span class=\"_ _314\"> </span>(1<span class=\"_ _2\"></span>87)<span class=\"_ _314\"> </span>(<span class=\"_ _2\"></span>205)",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-572": {
   "value": "5. Financ<span class=\"_ _0\"></span>e incom<span class=\"_ _0\"></span>e and costs, and other gains<span class=\"_ _314\"> </span>Finance income includes<span class=\"_ _0\"></span> interest on cas<span class=\"_ _0\"></span>h deposits<span class=\"_ _2\"></span>, gains on<span class=\"_ _0\"></span> redemption<span class=\"_ _314\"> </span>of bo<span class=\"_ _2\"></span>rrowi<span class=\"_ _2\"></span>ngs and i<span class=\"_ _2\"></span>nterest i<span class=\"_ _2\"></span>ncome o<span class=\"_ _2\"></span>n retir<span class=\"_ _2\"></span>ement b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it as<span class=\"_ _2\"></span>sets<span class=\"_ _2\"></span>. Fina<span class=\"_ _2\"></span>nce<span class=\"_ _314\"> </span>costs include intere<span class=\"_ _0\"></span>st on borrowings and derivative f<span class=\"_ _2\"></span>inancial instruments<span class=\"_ _314\"> </span>as we<span class=\"_ _2\"></span>ll as lea<span class=\"_ _2\"></span>se interes<span class=\"_ _2\"></span>t expe<span class=\"_ _2\"></span>nse. Fo<span class=\"_ _2\"></span>reign exc<span class=\"_ _2\"></span>hange g<span class=\"_ _2\"></span>ains o<span class=\"_ _2\"></span>r losses<span class=\"_ _314\"> </span>ass<span class=\"_ _2\"></span>ocia<span class=\"_ _2\"></span>ted wit<span class=\"_ _2\"></span>h corp<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>te treasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y trans<span class=\"_ _2\"></span>act<span class=\"_ _2\"></span>ions an<span class=\"_ _2\"></span>d othe<span class=\"_ _2\"></span>r borro<span class=\"_ _2\"></span>wing<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>are also incl<span class=\"_ _0\"></span>uded wit<span class=\"_ _2\"></span>hin finance income or<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance costs. Gains on digital<span class=\"_ _314\"> </span>and re<span class=\"_ _2\"></span>lated a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s are prese<span class=\"_ _2\"></span>nted sep<span class=\"_ _2\"></span>arate<span class=\"_ _2\"></span>ly on th<span class=\"_ _2\"></span>e incom<span class=\"_ _2\"></span>e statem<span class=\"_ _2\"></span>ent.<span class=\"_ _314\"> </span>5.1 Finan<span class=\"_ _2\"></span>ce incom<span class=\"_ _2\"></span>e and f<span class=\"_ _2\"></span>inance co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>The accounting policies<span class=\"_ _0\"></span> for the following<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> income and finance<span class=\"_ _314\"> </span>cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are described in the r<span class=\"_ _0\"></span>elevant notes t<span class=\"_ _0\"></span>o the financial st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w351 h23b\" id=\"_5cd83fbd-eee9-4289-a1ad-de13e1b51675\"><tr><td></td><td class=\"t m2 x60b hb y21ab ff71 fs6 fc1 sc0 ls9e wsca\">Note</td><td></td></tr><tr><td class=\"t m2 x60c h193 y21ac ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income on<span class=\"_ _0\"></span> retirement</span><span class=\"ls6c ws7e\"> </span></td><td class=\"c n x60d y21ad w210 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x60e y21ad w352 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pension and<span class=\"_ _0\"></span> other<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x60f h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td class=\"t m2 x610 h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it </td></tr><tr><td class=\"t m2 x60c h193 y21af ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on retirement</span><span class=\"ls6c ws7e\"> </span></td><td></td><td class=\"t m2 x610 h193 y21af ff71 fs129 fc1 sc0 ls6c ws96\">schemes<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m2 x60f h193 y21b0 ff71 fs129 fc1 sc0 ls76 ws5\">benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligat<span class=\"_ _2\"></span>ions<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b1 w353 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Interest on borro<span class=\"_ _0\"></span>wings<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x611 y21b1 w354 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x612 y21b1 w355 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">B<span class=\"_ _2\"></span>orro<span class=\"_ _0\"></span>wings</div></td></tr><tr><td class=\"t m2 x60c h193 y21b2 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></td><td class=\"c n x613 y212d w356 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x614 y212d w357 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Lease<span class=\"_ _0\"></span> liabilities and net</div></td></tr><tr><td class=\"t m2 x60c h193 y21b3 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span></td><td></td><td class=\"t m2 x610 h193 y21b3 ff71 fs129 fc1 sc0 ls76 ws5\">investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> leases<span class=\"_ _314\"> </span></td></tr></table>Interest earned on cash<span class=\"_ _0\"></span> deposited wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties<span class=\"_ _314\"> </span>and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le on bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, wh<span class=\"_ _2\"></span>ich ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e agre<span class=\"_ _2\"></span>ed<span class=\"_ _314\"> </span>market-based or c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ractual rate f<span class=\"_ _0\"></span>or each transact<span class=\"_ _2\"></span>ion, ar<span class=\"_ _0\"></span>e calculated<span class=\"_ _314\"> </span>using the effect<span class=\"_ _2\"></span>ive int<span class=\"_ _0\"></span>erest method. Interest payable on bank<span class=\"_ _314\"> </span>and other borrowings is<span class=\"_ _0\"></span> presented net of<span class=\"_ _0\"></span> hedging derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _314\"> </span>Recurring fees and<span class=\"_ _0\"></span> charges levied on c<span class=\"_ _0\"></span>ommit<span class=\"_ _2\"></span>ted bank facilities,<span class=\"_ _314\"> </span>cash management transact<span class=\"_ _2\"></span>ions and<span class=\"_ _0\"></span> the payment ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span>prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s bank<span class=\"_ _2\"></span>s are cha<span class=\"_ _2\"></span>rged a<span class=\"_ _2\"></span>s accr<span class=\"_ _2\"></span>ued in o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>finance expenses. Credit facilit<span class=\"_ _2\"></span>y arrangement f<span class=\"_ _0\"></span>ees are capitalised<span class=\"_ _314\"> </span>and then amort<span class=\"_ _2\"></span>ised ov<span class=\"_ _0\"></span>er the term of<span class=\"_ _0\"></span> the facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>Finance inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span>Financial assets measured<span class=\"_ _0\"></span> at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed c<span class=\"_ _2\"></span>ost<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Bank deposit and other int<span class=\"_ _0\"></span>erest income<span class=\"_ _314\"> </span></span>115<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>45<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span>1<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther finance inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span>1<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>Gain on<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>tial re<span class=\"_ _0\"></span>purchase of<span class=\"_ _0\"></span> bond<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span>23<span class=\"_ _314\"> </span>24<span class=\"_ _314\"> </span>Hedge ineffec<span class=\"_ _2\"></span>tiveness on fair<span class=\"_ _314\"> </span>value hedges<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>c<span class=\"_ _314\"> </span>2<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>Fair value<span class=\"_ _0\"></span> gain on derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial instrumen<span class=\"_ _2\"></span>ts not<span class=\"_ _0\"></span> designated as hedges<span class=\"_ _314\"> </span>6<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>Net inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> income on net<span class=\"_ _0\"></span> retirement benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>12.1<span class=\"_ _314\"> </span>5<span class=\"_ _314\"> </span>4<span class=\"_ _314\"> </span>153<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>75<span class=\"_ _314\"> </span>Finance c<span class=\"_ _0\"></span>ost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Financial liabilities measur<span class=\"_ _0\"></span>ed at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed c<span class=\"_ _2\"></span>ost<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest payable on bank<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></span>borrowings<span class=\"_ _314\"> </span>(276<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>(2<span class=\"_ _0\"></span>88)<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span>16.2<span class=\"_ _314\"> </span>(20)<span class=\"_ _314\"> </span>(20<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther finance e<span class=\"_ _0\"></span>xpenses<span class=\"_ _314\"> </span></span>(11)<span class=\"_ _314\"> </span>(17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments interest expense<span class=\"_ _314\"> </span>(28)<span class=\"_ _314\"> </span>(<span class=\"_ _2\"></span>31)<span class=\"_ _314\"> </span>Hedge ineffec<span class=\"_ _2\"></span>tiveness on fair<span class=\"_ _314\"> </span>value hedges<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>c<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>Fair value<span class=\"_ _0\"></span> loss on derivative financial instrumen<span class=\"_ _2\"></span>ts not<span class=\"_ _0\"></span> designated as hedges<span class=\"_ _314\"> </span>(4)<span class=\"_ _314\"> </span>(8)<span class=\"_ _314\"> </span>Foreign ex<span class=\"_ _0\"></span>change losses<span class=\"_ _314\"> </span>(1)<span class=\"_ _314\"> </span>(15)<span class=\"_ _314\"> </span>(340)<span class=\"_ _314\"> </span>(380)<span class=\"_ _314\"> </span>Net finance costs<span class=\"_ _314\"> </span>(1<span class=\"_ _2\"></span>87)<span class=\"_ _314\"> </span>(<span class=\"_ _2\"></span>205)",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-577": {
   "value": "5. Financ<span class=\"_ _0\"></span>e incom<span class=\"_ _0\"></span>e and costs, and other gains<span class=\"_ _314\"> </span>Finance income includes<span class=\"_ _0\"></span> interest on cas<span class=\"_ _0\"></span>h deposits<span class=\"_ _2\"></span>, gains on<span class=\"_ _0\"></span> redemption<span class=\"_ _314\"> </span>of bo<span class=\"_ _2\"></span>rrowi<span class=\"_ _2\"></span>ngs and i<span class=\"_ _2\"></span>nterest i<span class=\"_ _2\"></span>ncome o<span class=\"_ _2\"></span>n retir<span class=\"_ _2\"></span>ement b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it as<span class=\"_ _2\"></span>sets<span class=\"_ _2\"></span>. Fina<span class=\"_ _2\"></span>nce<span class=\"_ _314\"> </span>costs include intere<span class=\"_ _0\"></span>st on borrowings and derivative f<span class=\"_ _2\"></span>inancial instruments<span class=\"_ _314\"> </span>as we<span class=\"_ _2\"></span>ll as lea<span class=\"_ _2\"></span>se interes<span class=\"_ _2\"></span>t expe<span class=\"_ _2\"></span>nse. Fo<span class=\"_ _2\"></span>reign exc<span class=\"_ _2\"></span>hange g<span class=\"_ _2\"></span>ains o<span class=\"_ _2\"></span>r losses<span class=\"_ _314\"> </span>ass<span class=\"_ _2\"></span>ocia<span class=\"_ _2\"></span>ted wit<span class=\"_ _2\"></span>h corp<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>te treasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y trans<span class=\"_ _2\"></span>act<span class=\"_ _2\"></span>ions an<span class=\"_ _2\"></span>d othe<span class=\"_ _2\"></span>r borro<span class=\"_ _2\"></span>wing<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>are also incl<span class=\"_ _0\"></span>uded wit<span class=\"_ _2\"></span>hin finance income or<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance costs. Gains on digital<span class=\"_ _314\"> </span>and re<span class=\"_ _2\"></span>lated a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s are prese<span class=\"_ _2\"></span>nted sep<span class=\"_ _2\"></span>arate<span class=\"_ _2\"></span>ly on th<span class=\"_ _2\"></span>e incom<span class=\"_ _2\"></span>e statem<span class=\"_ _2\"></span>ent.<span class=\"_ _314\"> </span>5.1 Finan<span class=\"_ _2\"></span>ce incom<span class=\"_ _2\"></span>e and f<span class=\"_ _2\"></span>inance co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>The accounting policies<span class=\"_ _0\"></span> for the following<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> income and finance<span class=\"_ _314\"> </span>cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are described in the r<span class=\"_ _0\"></span>elevant notes t<span class=\"_ _0\"></span>o the financial st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w351 h23b\" id=\"_5cd83fbd-eee9-4289-a1ad-de13e1b51675\"><tr><td></td><td class=\"t m2 x60b hb y21ab ff71 fs6 fc1 sc0 ls9e wsca\">Note</td><td></td></tr><tr><td class=\"t m2 x60c h193 y21ac ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income on<span class=\"_ _0\"></span> retirement</span><span class=\"ls6c ws7e\"> </span></td><td class=\"c n x60d y21ad w210 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x60e y21ad w352 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pension and<span class=\"_ _0\"></span> other<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x60f h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td class=\"t m2 x610 h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it </td></tr><tr><td class=\"t m2 x60c h193 y21af ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on retirement</span><span class=\"ls6c ws7e\"> </span></td><td></td><td class=\"t m2 x610 h193 y21af ff71 fs129 fc1 sc0 ls6c ws96\">schemes<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m2 x60f h193 y21b0 ff71 fs129 fc1 sc0 ls76 ws5\">benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligat<span class=\"_ _2\"></span>ions<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b1 w353 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Interest on borro<span class=\"_ _0\"></span>wings<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x611 y21b1 w354 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x612 y21b1 w355 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">B<span class=\"_ _2\"></span>orro<span class=\"_ _0\"></span>wings</div></td></tr><tr><td class=\"t m2 x60c h193 y21b2 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></td><td class=\"c n x613 y212d w356 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x614 y212d w357 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Lease<span class=\"_ _0\"></span> liabilities and net</div></td></tr><tr><td class=\"t m2 x60c h193 y21b3 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span></td><td></td><td class=\"t m2 x610 h193 y21b3 ff71 fs129 fc1 sc0 ls76 ws5\">investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> leases<span class=\"_ _314\"> </span></td></tr></table>Interest earned on cash<span class=\"_ _0\"></span> deposited wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties<span class=\"_ _314\"> </span>and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le on bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, wh<span class=\"_ _2\"></span>ich ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e agre<span class=\"_ _2\"></span>ed<span class=\"_ _314\"> </span>market-based or c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ractual rate f<span class=\"_ _0\"></span>or each transact<span class=\"_ _2\"></span>ion, ar<span class=\"_ _0\"></span>e calculated<span class=\"_ _314\"> </span>using the effect<span class=\"_ _2\"></span>ive int<span class=\"_ _0\"></span>erest method. Interest payable on bank<span class=\"_ _314\"> </span>and other borrowings is<span class=\"_ _0\"></span> presented net of<span class=\"_ _0\"></span> hedging derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _314\"> </span>Recurring fees and<span class=\"_ _0\"></span> charges levied on c<span class=\"_ _0\"></span>ommit<span class=\"_ _2\"></span>ted bank facilities,<span class=\"_ _314\"> </span>cash management transact<span class=\"_ _2\"></span>ions and<span class=\"_ _0\"></span> the payment ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span>prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s bank<span class=\"_ _2\"></span>s are cha<span class=\"_ _2\"></span>rged a<span class=\"_ _2\"></span>s accr<span class=\"_ _2\"></span>ued in o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>finance expenses. Credit facilit<span class=\"_ _2\"></span>y arrangement f<span class=\"_ _0\"></span>ees are capitalised<span class=\"_ _314\"> </span>and then amort<span class=\"_ _2\"></span>ised ov<span class=\"_ _0\"></span>er the term of<span class=\"_ _0\"></span> the facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>Finance inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span>Financial assets measured<span class=\"_ _0\"></span> at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed c<span class=\"_ _2\"></span>ost<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Bank deposit and other int<span class=\"_ _0\"></span>erest income<span class=\"_ _314\"> </span></span>115<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>45<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span>1<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther finance inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span>1<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>Gain on<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>tial re<span class=\"_ _0\"></span>purchase of<span class=\"_ _0\"></span> bond<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span>23<span class=\"_ _314\"> </span>24<span class=\"_ _314\"> </span>Hedge ineffec<span class=\"_ _2\"></span>tiveness on fair<span class=\"_ _314\"> </span>value hedges<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>c<span class=\"_ _314\"> </span>2<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>Fair value<span class=\"_ _0\"></span> gain on derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial instrumen<span class=\"_ _2\"></span>ts not<span class=\"_ _0\"></span> designated as hedges<span class=\"_ _314\"> </span>6<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>Net inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> income on net<span class=\"_ _0\"></span> retirement benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>12.1<span class=\"_ _314\"> </span>5<span class=\"_ _314\"> </span>4<span class=\"_ _314\"> </span>153<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>75<span class=\"_ _314\"> </span>Finance c<span class=\"_ _0\"></span>ost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Financial liabilities measur<span class=\"_ _0\"></span>ed at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed c<span class=\"_ _2\"></span>ost<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest payable on bank<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></span>borrowings<span class=\"_ _314\"> </span>(276<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>(2<span class=\"_ _0\"></span>88)<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span>16.2<span class=\"_ _314\"> </span>(20)<span class=\"_ _314\"> </span>(20<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther finance e<span class=\"_ _0\"></span>xpenses<span class=\"_ _314\"> </span></span>(11)<span class=\"_ _314\"> </span>(17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments interest expense<span class=\"_ _314\"> </span>(28)<span class=\"_ _314\"> </span>(<span class=\"_ _2\"></span>31)<span class=\"_ _314\"> </span>Hedge ineffec<span class=\"_ _2\"></span>tiveness on fair<span class=\"_ _314\"> </span>value hedges<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>c<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>Fair value<span class=\"_ _0\"></span> loss on derivative financial instrumen<span class=\"_ _2\"></span>ts not<span class=\"_ _0\"></span> designated as hedges<span class=\"_ _314\"> </span>(4)<span class=\"_ _314\"> </span>(8)<span class=\"_ _314\"> </span>Foreign ex<span class=\"_ _0\"></span>change losses<span class=\"_ _314\"> </span>(1)<span class=\"_ _314\"> </span>(15)<span class=\"_ _314\"> </span>(340)<span class=\"_ _314\"> </span>(380)<span class=\"_ _314\"> </span>Net finance costs<span class=\"_ _314\"> </span>(1<span class=\"_ _2\"></span>87)<span class=\"_ _314\"> </span>(<span class=\"_ _2\"></span>205)",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-579": {
   "value": "5. Financ<span class=\"_ _0\"></span>e incom<span class=\"_ _0\"></span>e and costs, and other gains<span class=\"_ _314\"> </span>Finance income includes<span class=\"_ _0\"></span> interest on cas<span class=\"_ _0\"></span>h deposits<span class=\"_ _2\"></span>, gains on<span class=\"_ _0\"></span> redemption<span class=\"_ _314\"> </span>of bo<span class=\"_ _2\"></span>rrowi<span class=\"_ _2\"></span>ngs and i<span class=\"_ _2\"></span>nterest i<span class=\"_ _2\"></span>ncome o<span class=\"_ _2\"></span>n retir<span class=\"_ _2\"></span>ement b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it as<span class=\"_ _2\"></span>sets<span class=\"_ _2\"></span>. Fina<span class=\"_ _2\"></span>nce<span class=\"_ _314\"> </span>costs include intere<span class=\"_ _0\"></span>st on borrowings and derivative f<span class=\"_ _2\"></span>inancial instruments<span class=\"_ _314\"> </span>as we<span class=\"_ _2\"></span>ll as lea<span class=\"_ _2\"></span>se interes<span class=\"_ _2\"></span>t expe<span class=\"_ _2\"></span>nse. Fo<span class=\"_ _2\"></span>reign exc<span class=\"_ _2\"></span>hange g<span class=\"_ _2\"></span>ains o<span class=\"_ _2\"></span>r losses<span class=\"_ _314\"> </span>ass<span class=\"_ _2\"></span>ocia<span class=\"_ _2\"></span>ted wit<span class=\"_ _2\"></span>h corp<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>te treasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y trans<span class=\"_ _2\"></span>act<span class=\"_ _2\"></span>ions an<span class=\"_ _2\"></span>d othe<span class=\"_ _2\"></span>r borro<span class=\"_ _2\"></span>wing<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>are also incl<span class=\"_ _0\"></span>uded wit<span class=\"_ _2\"></span>hin finance income or<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance costs. Gains on digital<span class=\"_ _314\"> </span>and re<span class=\"_ _2\"></span>lated a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s are prese<span class=\"_ _2\"></span>nted sep<span class=\"_ _2\"></span>arate<span class=\"_ _2\"></span>ly on th<span class=\"_ _2\"></span>e incom<span class=\"_ _2\"></span>e statem<span class=\"_ _2\"></span>ent.<span class=\"_ _314\"> </span>5.1 Finan<span class=\"_ _2\"></span>ce incom<span class=\"_ _2\"></span>e and f<span class=\"_ _2\"></span>inance co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>The accounting policies<span class=\"_ _0\"></span> for the following<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> income and finance<span class=\"_ _314\"> </span>cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are described in the r<span class=\"_ _0\"></span>elevant notes t<span class=\"_ _0\"></span>o the financial st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w351 h23b\" id=\"_5cd83fbd-eee9-4289-a1ad-de13e1b51675\"><tr><td></td><td class=\"t m2 x60b hb y21ab ff71 fs6 fc1 sc0 ls9e wsca\">Note</td><td></td></tr><tr><td class=\"t m2 x60c h193 y21ac ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income on<span class=\"_ _0\"></span> retirement</span><span class=\"ls6c ws7e\"> </span></td><td class=\"c n x60d y21ad w210 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x60e y21ad w352 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pension and<span class=\"_ _0\"></span> other<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x60f h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td class=\"t m2 x610 h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it </td></tr><tr><td class=\"t m2 x60c h193 y21af ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on retirement</span><span class=\"ls6c ws7e\"> </span></td><td></td><td class=\"t m2 x610 h193 y21af ff71 fs129 fc1 sc0 ls6c ws96\">schemes<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m2 x60f h193 y21b0 ff71 fs129 fc1 sc0 ls76 ws5\">benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligat<span class=\"_ _2\"></span>ions<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b1 w353 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Interest on borro<span class=\"_ _0\"></span>wings<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x611 y21b1 w354 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x612 y21b1 w355 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">B<span class=\"_ _2\"></span>orro<span class=\"_ _0\"></span>wings</div></td></tr><tr><td class=\"t m2 x60c h193 y21b2 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></td><td class=\"c n x613 y212d w356 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x614 y212d w357 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Lease<span class=\"_ _0\"></span> liabilities and net</div></td></tr><tr><td class=\"t m2 x60c h193 y21b3 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span></td><td></td><td class=\"t m2 x610 h193 y21b3 ff71 fs129 fc1 sc0 ls76 ws5\">investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> leases<span class=\"_ _314\"> </span></td></tr></table>Interest earned on cash<span class=\"_ _0\"></span> deposited wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties<span class=\"_ _314\"> </span>and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le on bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, wh<span class=\"_ _2\"></span>ich ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e agre<span class=\"_ _2\"></span>ed<span class=\"_ _314\"> </span>market-based or c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ractual rate f<span class=\"_ _0\"></span>or each transact<span class=\"_ _2\"></span>ion, ar<span class=\"_ _0\"></span>e calculated<span class=\"_ _314\"> </span>using the effect<span class=\"_ _2\"></span>ive int<span class=\"_ _0\"></span>erest method. Interest payable on bank<span class=\"_ _314\"> </span>and other borrowings is<span class=\"_ _0\"></span> presented net of<span class=\"_ _0\"></span> hedging derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _314\"> </span>Recurring fees and<span class=\"_ _0\"></span> charges levied on c<span class=\"_ _0\"></span>ommit<span class=\"_ _2\"></span>ted bank facilities,<span class=\"_ _314\"> </span>cash management transact<span class=\"_ _2\"></span>ions and<span class=\"_ _0\"></span> the payment ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span>prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s bank<span class=\"_ _2\"></span>s are cha<span class=\"_ _2\"></span>rged a<span class=\"_ _2\"></span>s accr<span class=\"_ _2\"></span>ued in o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>finance expenses. Credit facilit<span class=\"_ _2\"></span>y arrangement f<span class=\"_ _0\"></span>ees are capitalised<span class=\"_ _314\"> </span>and then amort<span class=\"_ _2\"></span>ised ov<span class=\"_ _0\"></span>er the term of<span class=\"_ _0\"></span> the facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>Finance inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span>Financial assets measured<span class=\"_ _0\"></span> at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed c<span class=\"_ _2\"></span>ost<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Bank deposit and other int<span class=\"_ _0\"></span>erest income<span class=\"_ _314\"> </span></span>115<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>45<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span>1<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther finance inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span>1<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>Gain on<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>tial re<span class=\"_ _0\"></span>purchase of<span class=\"_ _0\"></span> bond<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span>23<span class=\"_ _314\"> </span>24<span class=\"_ _314\"> </span>Hedge ineffec<span class=\"_ _2\"></span>tiveness on fair<span class=\"_ _314\"> </span>value hedges<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>c<span class=\"_ _314\"> </span>2<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>Fair value<span class=\"_ _0\"></span> gain on derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial instrumen<span class=\"_ _2\"></span>ts not<span class=\"_ _0\"></span> designated as hedges<span class=\"_ _314\"> </span>6<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>Net inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> income on net<span class=\"_ _0\"></span> retirement benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>12.1<span class=\"_ _314\"> </span>5<span class=\"_ _314\"> </span>4<span class=\"_ _314\"> </span>153<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>75<span class=\"_ _314\"> </span>Finance c<span class=\"_ _0\"></span>ost<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Financial liabilities measur<span class=\"_ _0\"></span>ed at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed c<span class=\"_ _2\"></span>ost<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest payable on bank<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></span>borrowings<span class=\"_ _314\"> </span>(276<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>(2<span class=\"_ _0\"></span>88)<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span>16.2<span class=\"_ _314\"> </span>(20)<span class=\"_ _314\"> </span>(20<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther finance e<span class=\"_ _0\"></span>xpenses<span class=\"_ _314\"> </span></span>(11)<span class=\"_ _314\"> </span>(17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments interest expense<span class=\"_ _314\"> </span>(28)<span class=\"_ _314\"> </span>(<span class=\"_ _2\"></span>31)<span class=\"_ _314\"> </span>Hedge ineffec<span class=\"_ _2\"></span>tiveness on fair<span class=\"_ _314\"> </span>value hedges<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>c<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>Fair value<span class=\"_ _0\"></span> loss on derivative financial instrumen<span class=\"_ _2\"></span>ts not<span class=\"_ _0\"></span> designated as hedges<span class=\"_ _314\"> </span>(4)<span class=\"_ _314\"> </span>(8)<span class=\"_ _314\"> </span>Foreign ex<span class=\"_ _0\"></span>change losses<span class=\"_ _314\"> </span>(1)<span class=\"_ _314\"> </span>(15)<span class=\"_ _314\"> </span>(340)<span class=\"_ _314\"> </span>(380)<span class=\"_ _314\"> </span>Net finance costs<span class=\"_ _314\"> </span>(1<span class=\"_ _2\"></span>87)<span class=\"_ _314\"> </span>(<span class=\"_ _2\"></span>205)",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-512": {
   "value": "  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>The accounting policies<span class=\"_ _0\"></span> for the following<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> income and finance<span class=\"_ _314\"> </span> cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are described in the r<span class=\"_ _0\"></span>elevant notes t<span class=\"_ _0\"></span>o the financial st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w351 h23b\" id=\"_5cd83fbd-eee9-4289-a1ad-de13e1b51675\"><tr><td></td><td class=\"t m2 x60b hb y21ab ff71 fs6 fc1 sc0 ls9e wsca\">Note</td><td></td></tr><tr><td class=\"t m2 x60c h193 y21ac ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income on<span class=\"_ _0\"></span> retirement</span><span class=\"ls6c ws7e\"> </span></td><td class=\"c n x60d y21ad w210 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x60e y21ad w352 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pension and<span class=\"_ _0\"></span> other<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x60f h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td class=\"t m2 x610 h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it </td></tr><tr><td class=\"t m2 x60c h193 y21af ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on retirement</span><span class=\"ls6c ws7e\"> </span></td><td></td><td class=\"t m2 x610 h193 y21af ff71 fs129 fc1 sc0 ls6c ws96\">schemes<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m2 x60f h193 y21b0 ff71 fs129 fc1 sc0 ls76 ws5\">benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligat<span class=\"_ _2\"></span>ions<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b1 w353 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Interest on borro<span class=\"_ _0\"></span>wings<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x611 y21b1 w354 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x612 y21b1 w355 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">B<span class=\"_ _2\"></span>orro<span class=\"_ _0\"></span>wings</div></td></tr><tr><td class=\"t m2 x60c h193 y21b2 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></td><td class=\"c n x613 y212d w356 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x614 y212d w357 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Lease<span class=\"_ _0\"></span> liabilities and net</div></td></tr><tr><td class=\"t m2 x60c h193 y21b3 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span></td><td></td><td class=\"t m2 x610 h193 y21b3 ff71 fs129 fc1 sc0 ls76 ws5\">investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> leases<span class=\"_ _314\"> </span></td></tr></table>Interest earned on cash<span class=\"_ _0\"></span> deposited wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties<span class=\"_ _314\"> </span> and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le on bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, wh<span class=\"_ _2\"></span>ich ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e agre<span class=\"_ _2\"></span>ed<span class=\"_ _314\"> </span> market-based or c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ractual rate f<span class=\"_ _0\"></span>or each transact<span class=\"_ _2\"></span>ion, ar<span class=\"_ _0\"></span>e calculated<span class=\"_ _314\"> </span> using the effect<span class=\"_ _2\"></span>ive int<span class=\"_ _0\"></span>erest method. Interest payable on bank<span class=\"_ _314\"> </span> and other borrowings is<span class=\"_ _0\"></span> presented net of<span class=\"_ _0\"></span> hedging derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _314\"> </span>Recurring fees and<span class=\"_ _0\"></span> charges levied on c<span class=\"_ _0\"></span>ommit<span class=\"_ _2\"></span>ted bank facilities,<span class=\"_ _314\"> </span> cash management transact<span class=\"_ _2\"></span>ions and<span class=\"_ _0\"></span> the payment ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span> prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s bank<span class=\"_ _2\"></span>s are cha<span class=\"_ _2\"></span>rged a<span class=\"_ _2\"></span>s accr<span class=\"_ _2\"></span>ued in o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span> finance expenses. Credit facilit<span class=\"_ _2\"></span>y arrangement f<span class=\"_ _0\"></span>ees are capitalised<span class=\"_ _314\"> </span> and then amort<span class=\"_ _2\"></span>ised ov<span class=\"_ _0\"></span>er the term of<span class=\"_ _0\"></span> the facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-502": {
   "value": "  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>The accounting policies<span class=\"_ _0\"></span> for the following<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> income and finance<span class=\"_ _314\"> </span> cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are described in the r<span class=\"_ _0\"></span>elevant notes t<span class=\"_ _0\"></span>o the financial st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w351 h23b\" id=\"_5cd83fbd-eee9-4289-a1ad-de13e1b51675\"><tr><td></td><td class=\"t m2 x60b hb y21ab ff71 fs6 fc1 sc0 ls9e wsca\">Note</td><td></td></tr><tr><td class=\"t m2 x60c h193 y21ac ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income on<span class=\"_ _0\"></span> retirement</span><span class=\"ls6c ws7e\"> </span></td><td class=\"c n x60d y21ad w210 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x60e y21ad w352 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pension and<span class=\"_ _0\"></span> other<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x60f h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td class=\"t m2 x610 h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it </td></tr><tr><td class=\"t m2 x60c h193 y21af ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on retirement</span><span class=\"ls6c ws7e\"> </span></td><td></td><td class=\"t m2 x610 h193 y21af ff71 fs129 fc1 sc0 ls6c ws96\">schemes<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m2 x60f h193 y21b0 ff71 fs129 fc1 sc0 ls76 ws5\">benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligat<span class=\"_ _2\"></span>ions<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b1 w353 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Interest on borro<span class=\"_ _0\"></span>wings<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x611 y21b1 w354 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x612 y21b1 w355 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">B<span class=\"_ _2\"></span>orro<span class=\"_ _0\"></span>wings</div></td></tr><tr><td class=\"t m2 x60c h193 y21b2 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></td><td class=\"c n x613 y212d w356 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x614 y212d w357 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Lease<span class=\"_ _0\"></span> liabilities and net</div></td></tr><tr><td class=\"t m2 x60c h193 y21b3 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span></td><td></td><td class=\"t m2 x610 h193 y21b3 ff71 fs129 fc1 sc0 ls76 ws5\">investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> leases<span class=\"_ _314\"> </span></td></tr></table>Interest earned on cash<span class=\"_ _0\"></span> deposited wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties<span class=\"_ _314\"> </span> and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le on bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, wh<span class=\"_ _2\"></span>ich ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e agre<span class=\"_ _2\"></span>ed<span class=\"_ _314\"> </span> market-based or c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ractual rate f<span class=\"_ _0\"></span>or each transact<span class=\"_ _2\"></span>ion, ar<span class=\"_ _0\"></span>e calculated<span class=\"_ _314\"> </span> using the effect<span class=\"_ _2\"></span>ive int<span class=\"_ _0\"></span>erest method. Interest payable on bank<span class=\"_ _314\"> </span> and other borrowings is<span class=\"_ _0\"></span> presented net of<span class=\"_ _0\"></span> hedging derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _314\"> </span>Recurring fees and<span class=\"_ _0\"></span> charges levied on c<span class=\"_ _0\"></span>ommit<span class=\"_ _2\"></span>ted bank facilities,<span class=\"_ _314\"> </span> cash management transact<span class=\"_ _2\"></span>ions and<span class=\"_ _0\"></span> the payment ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span> prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s bank<span class=\"_ _2\"></span>s are cha<span class=\"_ _2\"></span>rged a<span class=\"_ _2\"></span>s accr<span class=\"_ _2\"></span>ued in o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span> finance expenses. Credit facilit<span class=\"_ _2\"></span>y arrangement f<span class=\"_ _0\"></span>ees are capitalised<span class=\"_ _314\"> </span> and then amort<span class=\"_ _2\"></span>ised ov<span class=\"_ _0\"></span>er the term of<span class=\"_ _0\"></span> the facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-482": {
   "value": "  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>The accounting policies<span class=\"_ _0\"></span> for the following<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> income and finance<span class=\"_ _314\"> </span> cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are described in the r<span class=\"_ _0\"></span>elevant notes t<span class=\"_ _0\"></span>o the financial st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w351 h23b\" id=\"_5cd83fbd-eee9-4289-a1ad-de13e1b51675\"><tr><td></td><td class=\"t m2 x60b hb y21ab ff71 fs6 fc1 sc0 ls9e wsca\">Note</td><td></td></tr><tr><td class=\"t m2 x60c h193 y21ac ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income on<span class=\"_ _0\"></span> retirement</span><span class=\"ls6c ws7e\"> </span></td><td class=\"c n x60d y21ad w210 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x60e y21ad w352 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pension and<span class=\"_ _0\"></span> other<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x60f h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">benefit asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td><td class=\"t m2 x610 h193 y21ae ff71 fs129 fc1 sc0 ls6c ws7e\">retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it </td></tr><tr><td class=\"t m2 x60c h193 y21af ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> on retirement</span><span class=\"ls6c ws7e\"> </span></td><td></td><td class=\"t m2 x610 h193 y21af ff71 fs129 fc1 sc0 ls6c ws96\">schemes<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m2 x60f h193 y21b0 ff71 fs129 fc1 sc0 ls76 ws5\">benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligat<span class=\"_ _2\"></span>ions<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b1 w353 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Interest on borro<span class=\"_ _0\"></span>wings<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x611 y21b1 w354 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x612 y21b1 w355 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">B<span class=\"_ _2\"></span>orro<span class=\"_ _0\"></span>wings</div></td></tr><tr><td class=\"t m2 x60c h193 y21b2 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest inc<span class=\"_ _0\"></span>ome<span class=\"_ _314\"> </span></span></td><td class=\"c n x613 y212d w356 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x614 y212d w357 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Lease<span class=\"_ _0\"></span> liabilities and net</div></td></tr><tr><td class=\"t m2 x60c h193 y21b3 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Lease interest e<span class=\"_ _0\"></span>xpen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></span></td><td></td><td class=\"t m2 x610 h193 y21b3 ff71 fs129 fc1 sc0 ls76 ws5\">investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> leases<span class=\"_ _314\"> </span></td></tr></table>Interest earned on cash<span class=\"_ _0\"></span> deposited wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties<span class=\"_ _314\"> </span> and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le on bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, wh<span class=\"_ _2\"></span>ich ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e agre<span class=\"_ _2\"></span>ed<span class=\"_ _314\"> </span> market-based or c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ractual rate f<span class=\"_ _0\"></span>or each transact<span class=\"_ _2\"></span>ion, ar<span class=\"_ _0\"></span>e calculated<span class=\"_ _314\"> </span> using the effect<span class=\"_ _2\"></span>ive int<span class=\"_ _0\"></span>erest method. Interest payable on bank<span class=\"_ _314\"> </span> and other borrowings is<span class=\"_ _0\"></span> presented net of<span class=\"_ _0\"></span> hedging derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _314\"> </span>Recurring fees and<span class=\"_ _0\"></span> charges levied on c<span class=\"_ _0\"></span>ommit<span class=\"_ _2\"></span>ted bank facilities,<span class=\"_ _314\"> </span> cash management transact<span class=\"_ _2\"></span>ions and<span class=\"_ _0\"></span> the payment ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span> prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s bank<span class=\"_ _2\"></span>s are cha<span class=\"_ _2\"></span>rged a<span class=\"_ _2\"></span>s accr<span class=\"_ _2\"></span>ued in o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span> finance expenses. Credit facilit<span class=\"_ _2\"></span>y arrangement f<span class=\"_ _0\"></span>ees are capitalised<span class=\"_ _314\"> </span> and then amort<span class=\"_ _2\"></span>ised ov<span class=\"_ _0\"></span>er the term of<span class=\"_ _0\"></span> the facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-559": {
   "value": "4.<span class=\"_ _2\"></span>2 Audi<span class=\"_ _2\"></span>tors\u2019 fe<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span>O<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r cost<span class=\"_ _2\"></span>s in<span class=\"_ _2\"></span>clud<span class=\"_ _2\"></span>e fees p<span class=\"_ _2\"></span>aid or p<span class=\"_ _2\"></span>ayab<span class=\"_ _2\"></span>le to th<span class=\"_ _2\"></span>e Com<span class=\"_ _2\"></span>pany<span class=\"_ _2\"></span>\u2019s aud<span class=\"_ _2\"></span>itor<span class=\"_ _2\"></span>s and<span class=\"_ _2\"></span> are analysed below:<span class=\"_ _314\"> </span><table class=\"s w339 h23e\" id=\"_b119e271-8f4d-489b-b30a-3c06d7817864\"><tr><td></td><td class=\"c n x4e9 y21bb w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21bb w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y21bc w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y21bc w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y21bd ff71 fs129 fc1 sc0 ls89 wsda\">Audit of<span class=\"_ _0\"></span> parent and<span class=\"_ _0\"></span> consolidated </td><td></td><td></td></tr><tr><td class=\"c n x1eb y214c w38a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">financial statement<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x640 y214c w9f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td><td class=\"c n x641 y214c w38b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w38c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Audit of<span class=\"_ _0\"></span> subsidiar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> companies<span class=\"_ _314\"> </span></div></td><td class=\"c n x642 y213e w1d5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">11<span class=\"_ _314\"> </span></div></td><td class=\"c n x643 y213e wb8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w38d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6d wsd4\">Non<span class=\"_ _2\"></span>-audit ser<span class=\"_ _2\"></span>vices</div><div class=\"t m2 x644 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x645 y2068 w3e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x646 y2068 w2df h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w38e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal auditors<span class=\"_ _0\"></span>\u2019 fees<span class=\"_ _314\"> </span></div></td><td class=\"c n x647 y2069 w38f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n x648 y2069 wa0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">16<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>elo<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>te LL<span class=\"_ _2\"></span>P prov<span class=\"_ _2\"></span>id<span class=\"_ _2\"></span>ed no<span class=\"_ _2\"></span>n-<span class=\"_ _2\"></span>aud<span class=\"_ _2\"></span>it se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>es of \u00a3<span class=\"_ _2\"></span>1.<span class=\"_ _2\"></span>8 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n; 9% of t<span class=\"_ _2\"></span>ota<span class=\"_ _2\"></span>l fees (<span class=\"_ _2\"></span>2024: \u00a31<span class=\"_ _2\"></span>.1 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n; 7% of t<span class=\"_ _0\"></span>otal fees).<span class=\"_ _0\"></span> This comprised audit-related assurance<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> of \u00a30.5<span class=\"_ _0\"></span> million (202<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _0\"></span>0.5 million)<span class=\"_ _0\"></span> and other non-audit ser<span class=\"_ _2\"></span>vices<span class=\"_ _0\"></span> of \u00a31.3 million (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a30.6 million)<span class=\"_ _0\"></span>. Fu<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>her d<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>ails o<span class=\"_ _2\"></span>f th<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices p<span class=\"_ _2\"></span>rov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d by De<span class=\"_ _2\"></span>loi<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>e LLP a<span class=\"_ _2\"></span>re gi<span class=\"_ _2\"></span>ven in t<span class=\"_ _2\"></span>he Re<span class=\"_ _2\"></span>po<span class=\"_ _2\"></span>rt o<span class=\"_ _2\"></span>f the<span class=\"_ _2\"></span> Au<span class=\"_ _2\"></span>dit C<span class=\"_ _2\"></span>omm<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>tee o<span class=\"_ _2\"></span>n pa<span class=\"_ _2\"></span>ge 79.<span class=\"_ _2\"></span> ",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-525": {
   "value": "<div class=\"t m2 h6 ff73 fs3 fc1 sc0 ls37 ws186 gs219\">6. T<span class=\"_ _25e\"></span>axati<span class=\"_ _0\"></span>on<span class=\"_ _314\"> </span></div><div class=\"t m2 h1dc ff74 fs2 fc1 sc0 ls3 ws3 gs21a\">This n<span class=\"_ _2\"></span>ote exp<span class=\"_ _2\"></span>lains h<span class=\"_ _2\"></span>ow our G<span class=\"_ _2\"></span>roup tax c<span class=\"_ _2\"></span>harge a<span class=\"_ _2\"></span>rises<span class=\"_ _2\"></span>. The no<span class=\"_ _2\"></span>te also </div><div class=\"t m2 h1dc ff74 fs2 fc1 sc0 ls3 ws3 gs21b\">prov<span class=\"_ _2\"></span>ides in<span class=\"_ _2\"></span>forma<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n on defer<span class=\"_ _2\"></span>red tax an<span class=\"_ _2\"></span>d uncer<span class=\"_ _2\"></span>tai<span class=\"_ _2\"></span>n tax po<span class=\"_ _2\"></span>sitio<span class=\"_ _2\"></span>ns.</div><div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs21c\">  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs21d\">In<span class=\"_ _2\"></span>come t<span class=\"_ _2\"></span>ax com<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>ses cu<span class=\"_ _2\"></span>rren<span class=\"_ _2\"></span>t and defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax<span class=\"_ _2\"></span>. Cur<span class=\"_ _2\"></span>rent a<span class=\"_ _2\"></span>nd </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs21e\">deferred<span class=\"_ _0\"></span> tax charges and benefit<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e recognised in<span class=\"_ _0\"></span> the income </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs21f\">st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent exce<span class=\"_ _2\"></span>pt to th<span class=\"_ _2\"></span>e ex<span class=\"_ _2\"></span>tent t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>hey rela<span class=\"_ _2\"></span>te to ite<span class=\"_ _2\"></span>ms reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs220\">direct<span class=\"_ _2\"></span>ly in<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y or other c<span class=\"_ _0\"></span>omprehensive income.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff72 fs2 fc1 sc0 ls7 wsa gs221\">Current income<span class=\"_ _0\"></span> tax<span class=\"ff71 ls3 ws3\"> is c<span class=\"_ _2\"></span>alcu<span class=\"_ _2\"></span>late<span class=\"_ _2\"></span>d base<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e tax l<span class=\"_ _2\"></span>aws en<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>ted </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs222\">or substanti<span class=\"_ _2\"></span>vely en<span class=\"_ _0\"></span>ac<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> at the balance sheet<span class=\"_ _0\"></span> date in the c<span class=\"_ _0\"></span>ountr<span class=\"_ _2\"></span>ies </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs223\">where the Group operates<span class=\"_ _0\"></span> and generates taxable income<span class=\"_ _0\"></span>. Current </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs224\">income tax assets and liabilities are<span class=\"_ _0\"></span> measured at the amount </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs225\">exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted to b<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>red fro<span class=\"_ _2\"></span>m or pai<span class=\"_ _2\"></span>d to ta<span class=\"_ _2\"></span>xati<span class=\"_ _2\"></span>on au<span class=\"_ _2\"></span>tho<span class=\"_ _2\"></span>rit<span class=\"_ _2\"></span>ies<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff72 fs2 fc1 sc0 ls3e ws5b gs226\">Deferred tax<span class=\"ff71 ls3 ws3\"> is t<span class=\"_ _2\"></span>he ta<span class=\"_ _2\"></span>x exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted to be p<span class=\"_ _2\"></span>ayab<span class=\"_ _2\"></span>le or re<span class=\"_ _2\"></span>cover<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e in </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs227\">the future on differences between the carr<span class=\"_ _2\"></span>ying amount o<span class=\"_ _0\"></span>f asset<span class=\"_ _2\"></span>s </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls46 ws187 gs228\">and liabilities for<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting purposes and the corr<span class=\"_ _0\"></span>esponding<span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs229\">amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s us<span class=\"_ _2\"></span>ed for t<span class=\"_ _2\"></span>ax pur<span class=\"_ _2\"></span>pos<span class=\"_ _2\"></span>es. D<span class=\"_ _2\"></span>eferre<span class=\"_ _2\"></span>d tax i<span class=\"_ _2\"></span>s accou<span class=\"_ _2\"></span>nted fo<span class=\"_ _2\"></span>r </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs22a\">using the liability method and calculated using<span class=\"_ _0\"></span> ta<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> rates that are </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs22b\">substant<span class=\"_ _2\"></span>ively enacted and e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>ted to<span class=\"_ _0\"></span> apply in the period when </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs22c\">the asset is r<span class=\"_ _0\"></span>ealised or the liability set<span class=\"_ _2\"></span>tled<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span></div>Defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax is n<span class=\"_ _2\"></span>ot reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for<span class=\"_ _2\"></span>: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">T<span class=\"_ _3\"></span>empo<span class=\"_ _2\"></span>rary dif<span class=\"_ _2\"></span>ferenc<span class=\"_ _0\"></span>es on the initial recognition of<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s </span>or liabilities in a<span class=\"_ _0\"></span> trans<span class=\"_ _2\"></span>action that is not<span class=\"_ _0\"></span> a business combination and t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>ffe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>ts ne<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>her th<span class=\"_ _2\"></span>e accou<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ng pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t nor t<span class=\"_ _2\"></span>axab<span class=\"_ _2\"></span>le pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">T<span class=\"_ _3\"></span>empo<span class=\"_ _2\"></span>rary dif<span class=\"_ _2\"></span>ferenc<span class=\"_ _0\"></span>es arising on the initial r<span class=\"_ _0\"></span>ecognit<span class=\"_ _2\"></span>ion </span>of goodwill<span class=\"_ _314\"> </span>Deferred<span class=\"_ _0\"></span> ta<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> liabilities are recognised f<span class=\"_ _0\"></span>or taxable temporar<span class=\"_ _2\"></span>y dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ences associated with interests in subsidiaries and<span class=\"_ _0\"></span> associates, exc<span class=\"_ _0\"></span>ept where the Group is<span class=\"_ _0\"></span> able to control<span class=\"_ _0\"></span> the timing of the rev<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>sal of t<span class=\"_ _2\"></span>he temp<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y dif<span class=\"_ _2\"></span>fere<span class=\"_ _2\"></span>nce an<span class=\"_ _2\"></span>d it is p<span class=\"_ _2\"></span>robab<span class=\"_ _2\"></span>le th<span class=\"_ _2\"></span>at th<span class=\"_ _2\"></span>e temp<span class=\"_ _2\"></span>orar<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span> dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ence will not r<span class=\"_ _0\"></span>everse in the for<span class=\"_ _0\"></span>eseeable future. Deferr<span class=\"_ _0\"></span>ed tax assets arising from deduct<span class=\"_ _2\"></span>ible t<span class=\"_ _0\"></span>emporar<span class=\"_ _2\"></span>y dif<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>erences associated wi<span class=\"_ _2\"></span>th su<span class=\"_ _2\"></span>ch int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>re recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d onl<span class=\"_ _2\"></span>y to th<span class=\"_ _2\"></span>e ex<span class=\"_ _2\"></span>tent t<span class=\"_ _2\"></span>hat it i<span class=\"_ _2\"></span>s pro<span class=\"_ _2\"></span>babl<span class=\"_ _2\"></span>e tha<span class=\"_ _2\"></span>t the<span class=\"_ _2\"></span>re wil<span class=\"_ _2\"></span>l be suf<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ient t<span class=\"_ _2\"></span>axab<span class=\"_ _2\"></span>le pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>gain<span class=\"_ _2\"></span>st w<span class=\"_ _2\"></span>hich<span class=\"_ _2\"></span> to utilise the benefit<span class=\"_ _2\"></span>s o<span class=\"_ _0\"></span>f the temporar<span class=\"_ _2\"></span>y differences and<span class=\"_ _0\"></span> they are expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed to re<span class=\"_ _0\"></span>verse in the foreseeable<span class=\"_ _0\"></span> fu<span class=\"_ _2\"></span>ture<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>The c<span class=\"_ _2\"></span>arr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>moun<span class=\"_ _2\"></span>t of defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s is rev<span class=\"_ _2\"></span>iewe<span class=\"_ _2\"></span>d at eac<span class=\"_ _2\"></span>h rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date a<span class=\"_ _2\"></span>nd redu<span class=\"_ _2\"></span>ced to t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t that i<span class=\"_ _2\"></span>t is no l<span class=\"_ _2\"></span>ong<span class=\"_ _2\"></span>er pro<span class=\"_ _2\"></span>babl<span class=\"_ _2\"></span>e tha<span class=\"_ _2\"></span>t suf<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ici<span class=\"_ _2\"></span>ent ta<span class=\"_ _2\"></span>xab<span class=\"_ _2\"></span>le prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t will b<span class=\"_ _2\"></span>e ava<span class=\"_ _2\"></span>ilab<span class=\"_ _2\"></span>le to all<span class=\"_ _2\"></span>ow all o<span class=\"_ _2\"></span>r par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set to b<span class=\"_ _2\"></span>e ut<span class=\"_ _2\"></span>ilis<span class=\"_ _2\"></span>ed. U<span class=\"_ _2\"></span>nreco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are re<span class=\"_ _2\"></span>-a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>d at each r<span class=\"_ _2\"></span>epor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ing d<span class=\"_ _2\"></span>ate and<span class=\"_ _2\"></span> are re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised to t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t tha<span class=\"_ _2\"></span>t it ha<span class=\"_ _2\"></span>s beco<span class=\"_ _2\"></span>me pro<span class=\"_ _2\"></span>babl<span class=\"_ _2\"></span>e tha<span class=\"_ _2\"></span>t fu<span class=\"_ _2\"></span>ture t<span class=\"_ _2\"></span>axab<span class=\"_ _2\"></span>le pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>ill a<span class=\"_ _2\"></span>llow t<span class=\"_ _2\"></span>he defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set to be r<span class=\"_ _0\"></span>ecover<span class=\"_ _0\"></span>ed.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>a<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> liabilities are offset when there is a<span class=\"_ _0\"></span> legall<span class=\"_ _2\"></span>y enfo<span class=\"_ _2\"></span>rceab<span class=\"_ _2\"></span>le ri<span class=\"_ _2\"></span>ght to se<span class=\"_ _2\"></span>t of<span class=\"_ _2\"></span>f cur<span class=\"_ _2\"></span>rent t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s agai<span class=\"_ _2\"></span>ns<span class=\"_ _2\"></span>t curre<span class=\"_ _2\"></span>nt ta<span class=\"_ _2\"></span>x liabilities and when they r<span class=\"_ _0\"></span>elate to<span class=\"_ _0\"></span> income taxes levied by<span class=\"_ _0\"></span> the same ta<span class=\"_ _2\"></span>xat<span class=\"_ _2\"></span>ion au<span class=\"_ _2\"></span>tho<span class=\"_ _2\"></span>rit<span class=\"_ _2\"></span>y o<span class=\"_ _2\"></span>n eit<span class=\"_ _2\"></span>her t<span class=\"_ _2\"></span>he sam<span class=\"_ _2\"></span>e tax<span class=\"_ _2\"></span>able e<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y or on d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>feren<span class=\"_ _2\"></span>t ta<span class=\"_ _2\"></span>xabl<span class=\"_ _2\"></span>e ent<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies wh<span class=\"_ _2\"></span>ich in<span class=\"_ _2\"></span>tend to s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle t<span class=\"_ _2\"></span>he cu<span class=\"_ _2\"></span>rrent t<span class=\"_ _2\"></span>ax a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s an<span class=\"_ _2\"></span>d liabilities on a net<span class=\"_ _0\"></span> basis.<span class=\"_ _314\"> </span>In re<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>ion to G<span class=\"_ _2\"></span>loba<span class=\"_ _2\"></span>l Min<span class=\"_ _2\"></span>imum T<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>x, t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up has a<span class=\"_ _2\"></span>ppli<span class=\"_ _2\"></span>ed a mandatory temporary exce<span class=\"_ _0\"></span>ption from def<span class=\"_ _0\"></span>erred tax ac<span class=\"_ _0\"></span>counting for th<span class=\"_ _2\"></span>e impa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s of t<span class=\"_ _2\"></span>he top<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>up ta<span class=\"_ _2\"></span>x and w<span class=\"_ _2\"></span>ill ac<span class=\"_ _2\"></span>coun<span class=\"_ _2\"></span>t for it a<span class=\"_ _2\"></span>s a curre<span class=\"_ _2\"></span>nt ta<span class=\"_ _2\"></span>x whe<span class=\"_ _2\"></span>n it is i<span class=\"_ _2\"></span>ncur<span class=\"_ _2\"></span>red.<div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls22 ws3 gs24e\">6.1 Incom<span class=\"_ _2\"></span>e tax<span class=\"_ _314\"> </span></div><div class=\"gs24f\"><table class=\"s w3c2 h244\" id=\"_7a9484c0-96f1-4283-9ac7-d7750a4c0b3f\"><tr><td></td><td></td><td class=\"c n x4c5 y21e5 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y21e5 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x68d y21e6 w218 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x68e y21e6 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x68f y21e6 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y21e7 ff72 fs129 fc1 sc0 ls70 ws55\">Curren<span class=\"_ _0\"></span>t tax e<span class=\"_ _0\"></span>xpense<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x1e7 h193 y21e8 ff71 fs129 fc1 sc0 ls6a ws3\">UK c<span class=\"_ _2\"></span>orp<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n tax ex<span class=\"_ _2\"></span>pe<span class=\"_ _2\"></span>nse at 25% </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21e9 w3c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb9 ws180\">(<span class=\"_ _2\"></span>20<span class=\"_ _2\"></span>24:<span class=\"_ _2\"></span> 25<span class=\"_ _2\"></span>%<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x690 y21e9 w3c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls88 wsb4\">184<span class=\"_ _314\"> </span></div></td><td class=\"c n x691 y21e9 w3c5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6e ws98\">145<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21ea w3c6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Ov<span class=\"_ _2\"></span>ers<span class=\"_ _2\"></span>eas t<span class=\"_ _2\"></span>ax ex<span class=\"_ _2\"></span>pen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x692 y21ea w3c7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">25<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x693 y21ea w3c8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">311<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21eb w3c9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s in res<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t of pr<span class=\"_ _2\"></span>evio<span class=\"_ _2\"></span>us yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x694 y21eb w3ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">(12)<span class=\"_ _314\"> </span></div></td><td class=\"c n x695 y21eb w3cb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsac wsd7\">(13)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x696 y2148 w3cc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls72 ws9b\">428<span class=\"_ _314\"> </span></div></td><td class=\"c n x697 y2148 w3cd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">4<span class=\"_ _2\"></span>43<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y21ec ff72 fs129 fc1 sc0 ls70 ws55\">Deferred<span class=\"_ _0\"></span> tax expe<span class=\"_ _0\"></span>nse<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21ed w3ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Defe<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>d tax ex<span class=\"_ _2\"></span>pen<span class=\"_ _2\"></span>se<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x698 y21ed wc7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">282<span class=\"_ _314\"> </span></div></td><td class=\"c n x699 y21ed w3cf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls73 ws9c\">142<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d7 w3c9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s in res<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t of pr<span class=\"_ _2\"></span>evio<span class=\"_ _2\"></span>us yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x69a y20d7 wa5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x69b y20d7 w3d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">(4)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y21ee ff71 fs129 fc1 sc0 ls78 ws3\">Defe<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>d tax b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t in rela<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n to amo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tis<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on<span class=\"_ _2\"></span> </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213e w3d1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">and impairment<span class=\"_ _0\"></span> of intangible assets<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x69c y213e w3d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls71 ws9a\">(<span class=\"_ _2\"></span>252)<span class=\"_ _314\"> </span></div></td><td class=\"c n x69d y213e w3d3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb9 wse9\">(<span class=\"_ _2\"></span>24<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x69e y2068 w3d4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">6.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x69f y2068 w3d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">35<span class=\"_ _314\"> </span></div></td><td class=\"c n x6a0 y2068 w3d6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">(106)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w3d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls70 ws55\">T<span class=\"_ _3\"></span>otal income<span class=\"_ _0\"></span> tax expe<span class=\"_ _0\"></span>nse<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x6a1 y2069 w18e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">463<span class=\"_ _314\"> </span></div></td><td class=\"c n x6a2 y2069 w3d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">337<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls22 ws3 gs250\">Fac<span class=\"_ _2\"></span>tors a<span class=\"_ _2\"></span>ff<span class=\"_ _2\"></span>ect<span class=\"_ _2\"></span>ing th<span class=\"_ _2\"></span>e tax ch<span class=\"_ _2\"></span>arge fo<span class=\"_ _2\"></span>r the yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs251\">The t<span class=\"_ _2\"></span>ax ch<span class=\"_ _2\"></span>arge fo<span class=\"_ _2\"></span>r the y<span class=\"_ _2\"></span>ear di<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fers f<span class=\"_ _2\"></span>rom th<span class=\"_ _2\"></span>at der<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>d from t<span class=\"_ _2\"></span>he s<span class=\"_ _2\"></span>tan<span class=\"_ _2\"></span>dard </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs252\">ra<span class=\"_ _2\"></span>te of cor<span class=\"_ _2\"></span>pora<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n tax i<span class=\"_ _2\"></span>n the U<span class=\"_ _2\"></span>K of 25% (2024: 2<span class=\"_ _0\"></span>5%) a<span class=\"_ _2\"></span>s expl<span class=\"_ _2\"></span>aine<span class=\"_ _2\"></span>d bel<span class=\"_ _2\"></span>ow:<span class=\"_ _314\"> </span></div><div class=\"gs253\"><table class=\"s w3d9 h245\" id=\"_1df04afa-77ee-43c4-9f4f-334a5aaf0e16\"><tr><td></td><td class=\"c n x4c5 y21ef w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y21ef w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5b8 y21f0 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b9 y21f0 w244 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2138 w6b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls70 ws55\">Profit be<span class=\"_ _0\"></span>fore tax<span class=\"_ _314\"> </span></div></td><td class=\"c n x4cf y2138 w3da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">1,969<span class=\"_ _314\"> </span></div></td><td class=\"c n x6a3 y2138 w277 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7e wsaa\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>258<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y21f1 ff72 fs129 fc1 sc0 ls6d wsd4\">Profit multiplied by standard rat<span class=\"_ _0\"></span>e of corporation </td><td></td><td></td></tr><tr><td class=\"c n x1eb y21a3 w3db h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">ta<span class=\"_ _2\"></span>x in the U<span class=\"_ _2\"></span>K<span class=\"_ _314\"> </span></div></td><td class=\"c n x6a4 y21a3 w3cc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb0 wsdb\">492<span class=\"_ _314\"> </span></div></td><td class=\"c n x6a5 y21a3 w3dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">315<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w3dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Ov<span class=\"_ _2\"></span>ers<span class=\"_ _2\"></span>eas e<span class=\"_ _2\"></span>arni<span class=\"_ _2\"></span>ngs t<span class=\"_ _2\"></span>axed a<span class=\"_ _2\"></span>t lowe<span class=\"_ _2\"></span>r rate<span class=\"_ _314\"> </span></div></td><td class=\"c n x6a6 y214a w3de h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(36)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6a7 y214a w3df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">(<span class=\"_ _2\"></span>15)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w3e0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt ar<span class=\"_ _2\"></span>isin<span class=\"_ _2\"></span>g fro<span class=\"_ _2\"></span>m chan<span class=\"_ _2\"></span>ges in t<span class=\"_ _2\"></span>ax r<span class=\"_ _2\"></span>ates<span class=\"_ _314\"> </span></div></td><td class=\"c n x6a8 y214b w3e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x6a9 y214b w3e2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls10f ws182\">44<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w3e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Expenses not deduct<span class=\"_ _2\"></span>ible<span class=\"_ _314\"> </span></div></td><td class=\"c n x6aa y214c w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ab y214c w315 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w3c9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s in res<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t of pr<span class=\"_ _2\"></span>evio<span class=\"_ _2\"></span>us yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ac y213e w3e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsea ws113\">(7)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ad y213e w3a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">(17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w3e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wse8\">Defe<span class=\"_ _0\"></span>rred tax n<span class=\"_ _0\"></span>ot rec<span class=\"_ _0\"></span>ognised<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ae y214f w102 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa9 ws7e\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n x6af y214f w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w3d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls70 ws55\">T<span class=\"_ _3\"></span>otal income<span class=\"_ _0\"></span> tax expe<span class=\"_ _0\"></span>nse<span class=\"_ _314\"> </span></div></td><td class=\"c n x6a1 y2069 w18e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">463<span class=\"_ _314\"> </span></div></td><td class=\"c n x6a2 y2069 w3d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">337<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs254\">T<span class=\"_ _3\"></span>ax (charged)/<span class=\"_ _0\"></span>credited directly to other comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div><div class=\"gs255\"><table class=\"s w26e h246\" id=\"_01343dda-8b9c-4e94-9a40-f49de1dad2e4\"><tr><td></td><td></td><td class=\"c n x677 y21f2 w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x678 y21f2 w270 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x679 y21f3 w218 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x67a y21f3 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x67b y21f3 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21f5 w3e6 h247\"><div class=\"t m0 x67c h193 y21f4 ff71 fs129 fc1 sc0 ls6c ws7e\">Current tax benefit<span class=\"_ _2\"></span>/(e<span class=\"_ _0\"></span>xpense) related<span class=\"_ _0\"></span> to<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _119\"> </span><span class=\"ls82 ws5\">Gains/<span class=\"_ _2\"></span>losses on<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s (<span class=\"_ _0\"></span>at FVOCI)<span class=\"_ _314\"> </span></span></div></td><td></td><td class=\"c n x6b0 y21f5 w4f h21c\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6b1 y21f5 w3e7 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">(3<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21f6 w3e8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6a\">N<span class=\"_ _2\"></span>et gai<span class=\"_ _2\"></span>ns on n<span class=\"_ _2\"></span>et inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t hed<span class=\"_ _2\"></span>ges<span class=\"_ _314\"> </span></span></div></td><td></td><td class=\"c n x6b2 y21f6 wa5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x6b3 y21f6 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x6b4 y21f7 wa5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x6b5 y21f7 w3e9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">(<span class=\"_ _2\"></span>34)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21f9 w3ea h248\"><div class=\"t m0 x67c h193 y21f8 ff71 fs129 fc1 sc0 ls6a ws3\">Defe<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>d tax (ex<span class=\"_ _2\"></span>pe<span class=\"_ _2\"></span>nse)<span class=\"_ _2\"></span>/b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it r<span class=\"_ _2\"></span>elate<span class=\"_ _2\"></span>d to<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Ac<span class=\"_ _2\"></span>tuarial<span class=\"_ _0\"></span> movements on retirement<span class=\"_ _314\"> </span></span></div></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y21fa w3eb h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws5\">benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligat<span class=\"_ _2\"></span>ions<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x6b6 y21fa w3ec h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6b7 y21fa w90 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">60<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215b w3e6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _119\"> </span><span class=\"ls82 ws5\">Gains/<span class=\"_ _2\"></span>losses on<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s (<span class=\"_ _0\"></span>at FVOCI)<span class=\"_ _314\"> </span></span></div></td><td></td><td class=\"c n x6b8 y215b w55 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6b9 y215b w210 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x687 y21b1 w3be h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">6.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ba y21b1 w3ed h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6bb y21b1 w187 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">72<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h187 y21fb ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal tax<span class=\"_ _0\"></span> (charged)/cr<span class=\"_ _0\"></span>edited directl<span class=\"_ _2\"></span>y </td><td></td><td></td><td></td></tr><tr><td class=\"c n x68a y2069 w3ee h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d wsd4\">to other<span class=\"_ _0\"></span> comprehensive income<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x6bd y2069 w3ef h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(8)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6be y2069 w33f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs256\">T<span class=\"_ _3\"></span>ax credited/(cha<span class=\"_ _0\"></span>rged) direc<span class=\"_ _2\"></span>tly to<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></div><div class=\"gs257\"><table class=\"s w3b7 h242\" id=\"_e73077f3-7ba6-48d7-82e2-b9fed176cb40\"><tr><td></td><td></td><td class=\"c n x677 y21dd w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x678 y21dd w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x679 y21de w218 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x67a y21de w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x67b y21de w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21e1 w3b8 h243\"><div class=\"t m0 x67c h193 y21df ff71 fs129 fc1 sc0 ls6a ws3\">Cu<span class=\"_ _2\"></span>rren<span class=\"_ _2\"></span>t tax b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t rela<span class=\"_ _2\"></span>ted to<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y21e0 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Share-<span class=\"_ _2\"></span>based payments less than<span class=\"_ _314\"> </span></span></div><div class=\"t m0 x67d h193 y2060 ff71 fs129 fc1 sc0 lsa8 wse8\">expense<span class=\"_ _0\"></span> recognis<span class=\"_ _0\"></span>ed<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x67e y21e1 w3b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">14<span class=\"_ _314\"> </span></div></td><td class=\"c n x67f y21e1 w4b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x680 y21e2 w3b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">14<span class=\"_ _314\"> </span></div></td><td class=\"c n x681 y21e2 w4b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21e3 w3ba h243\"><div class=\"t m0 x67c h193 y21df ff71 fs129 fc1 sc0 ls6a ws3\">Defe<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>d tax b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>/(exp<span class=\"_ _2\"></span>ens<span class=\"_ _2\"></span>e) relat<span class=\"_ _2\"></span>ed to<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y21e0 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Share-<span class=\"_ _2\"></span>based payments less than<span class=\"_ _314\"> </span></span></div><div class=\"t m0 x67d h193 y2060 ff71 fs129 fc1 sc0 lsa8 wse8\">expense<span class=\"_ _0\"></span> recognis<span class=\"_ _0\"></span>ed<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x67e y21e3 wa6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x682 y21e3 w3bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">10</div></td></tr><tr><td class=\"t m0 x683 h193 y21e4 ff71 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Inves<span class=\"_ _2\"></span>tment in<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>tnerships (recognised</span><span class=\"ls76 ws5\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y213e w3bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">in non-<span class=\"_ _2\"></span>controlling int<span class=\"_ _0\"></span>erest<span class=\"_ _2\"></span>s)<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x685 y213e waf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">17<span class=\"_ _314\"> </span></div></td><td class=\"c n x686 y213e w3bd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">(<span class=\"_ _2\"></span>11)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x687 y214f w3be h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">6.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x688 y214f w3bf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa8 wsd5\">30<span class=\"_ _314\"> </span></div></td><td class=\"c n x689 y214f w31d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y2069 w3c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal tax<span class=\"_ _0\"></span> credited directl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> to equity<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x68b y2069 wf8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsee ws55\">44<span class=\"_ _314\"> </span></div></td><td class=\"c n x68c y2069 w3c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls22 ws3 gs258\">6.<span class=\"_ _2\"></span>2 Net d<span class=\"_ _2\"></span>eferr<span class=\"_ _2\"></span>ed tax l<span class=\"_ _2\"></span>iabil<span class=\"_ _2\"></span>itie<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div><div class=\"gs259\"><table class=\"s w3f0 h249\" id=\"_ba9f6070-4dc2-413b-9536-ff0b52c15179\"><tr><td></td><td class=\"c n x4e9 y21fc w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21fc w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x6bf y21fd w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c0 y21fd w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e wc9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Defe<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>d tax a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c1 y213e wcb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls71 ws9a\">528<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c2 y213e wcc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">659<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w106 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Deferred<span class=\"_ _0\"></span> tax liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c3 y2068 w3f1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb0 wsdb\">(1,7<span class=\"_ _2\"></span>85)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c4 y2068 w3f2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">(<span class=\"_ _2\"></span>1,995)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w3f3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">Net deferred tax liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c5 y2069 w3f4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">(1,<span class=\"_ _2\"></span>257<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c6 y2069 w3f5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">(1,<span class=\"_ _2\"></span>336)<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs269\">The movements in def<span class=\"_ _0\"></span>erred tax assets and liabilities during the year<span class=\"_ _0\"></span> are shown below:<span class=\"_ _314\"> </span></div><div class=\"gs26a\"><table class=\"s w3f6 h24a\" id=\"_e232fb7c-d860-468f-903d-1547e7677af0\"><tr><td></td><td></td><td></td><td class=\"t m2 x6c7 h13 y21fe ff72 fs6 fc1 sc0 lse5 ws75\">T<span class=\"_ _0\"></span>ax losses </td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x6c8 h13 y21ff ff72 fs6 fc1 sc0 ls77 wsa0\">Goodwill </td><td class=\"t m2 x6c9 h13 y21ff ff72 fs6 fc1 sc0 ls12 ws44\">and other </td><td></td><td></td><td></td><td></td><td class=\"t m2 x6ca h13 y21ff ff72 fs6 fc1 sc0 lse0 ws110\">Provisions </td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x6cb h13 y2200 ff72 fs6 fc1 sc0 ls4 ws3\">and </td><td class=\"t m2 x6cc h13 y2200 ff72 fs6 fc1 sc0 ls110 ws183\">carr<span class=\"_ _2\"></span>y-<span class=\"_ _314\"> </span></td><td class=\"t m2 x6cd h13 y2200 ff72 fs6 fc1 sc0 lse0 ws110\">Proper<span class=\"_ _2\"></span>ty, </td><td></td><td class=\"t m2 x6ce h13 y2200 ff72 fs6 fc1 sc0 ls27 ws45\">Retirement </td><td></td><td class=\"t m2 x6cf h13 y2200 ff72 fs6 fc1 sc0 ls12 ws44\">and other </td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x6d0 h13 y2201 ff72 fs6 fc1 sc0 lse5 ws125\">intangible<span class=\"_ _314\"> </span></td><td class=\"t m2 x6d1 h13 y2201 ff72 fs6 fc1 sc0 ls110 ws183\">forward </td><td class=\"t m2 x6cd h13 y2201 ff72 fs6 fc1 sc0 ls110 ws7\">plant and </td><td class=\"t m2 x6d2 h13 y2201 ff72 fs6 fc1 sc0 ls4 ws3\">Share </td><td class=\"t m2 x6d3 h13 y2201 ff72 fs6 fc1 sc0 ls27 ws45\">benefit </td><td class=\"t m2 x6d4 h13 y2201 ff72 fs6 fc1 sc0 ls12 ws44\">Investment in<span class=\"_ _314\"> </span></td><td class=\"t m2 x6d5 h13 y2201 ff72 fs6 fc1 sc0 ls12 ws81\">temporary </td><td></td></tr><tr><td></td><td></td><td class=\"c x6d7 y2203 w3f7 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 lse5 ws125\">assets</div><div class=\"t m2 x6d6 h1c4 y2202 ff72 fs12b fc1 sc0 ls4 ws3\">1</div></td><td class=\"t m2 x6c9 h13 y2204 ff72 fs6 fc1 sc0 lse5 ws125\">attributes<span class=\"_ _314\"> </span></td><td class=\"t m2 x6d8 h13 y2204 ff72 fs6 fc1 sc0 lse5 ws125\">equipment<span class=\"_ _314\"> </span></td><td class=\"t m2 x6d9 h13 y2204 ff72 fs6 fc1 sc0 ls12 ws81\">schemes<span class=\"_ _314\"> </span></td><td class=\"t m2 x6ce h13 y2204 ff72 fs6 fc1 sc0 lse5 ws125\">obligations<span class=\"_ _314\"> </span></td><td class=\"c x6db y2203 w3f8 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls12 ws81\">partnerships</div><div class=\"t m2 x6da h1c4 y2202 ff72 fs12b fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x2a0 y2203 w3f9 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls12 ws81\">differences<span class=\"_ _314\"> </span></div></td><td class=\"c n x6dc y2203 w3fa h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2205 w3fb h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Group<span class=\"_ _314\"> </span></div></td><td class=\"c n x6dd y2205 w3fc h225\"><div class=\"t m2 x1e4 h193 y204b ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x6de y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6df y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e0 y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e1 y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e2 y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e3 y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e4 y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e5 y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2206 w12c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x6e6 y2206 w3fd h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">(2,6<span class=\"_ _0\"></span>68)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e7 y2206 w3fe h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">575<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e8 y2206 w3ff h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6f ws99\">69<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e9 y2206 w3ff h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">65<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ea y2206 w1a9 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6eb y2206 w400 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">466<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ec y2206 w401 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td><td class=\"c n x2fb y2206 w402 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">(<span class=\"_ _2\"></span>1,476<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2207 w403 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ax re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me s<span class=\"_ _2\"></span>tate<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ed y2207 w404 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ee y2207 w405 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls72 ws9b\">276<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ef y2207 w406 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">(114)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f0 y2207 w407 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsac wsd7\">(<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f1 y2207 w38b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f2 y2207 w408 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws1\">(41<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f3 y2207 w409 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f4 y2207 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f5 y2207 w40a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">106<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2137 w40b h24b\"><div class=\"t m2 x1e4 h193 y2208 ff71 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ax re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in ot<span class=\"_ _2\"></span>her<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f6 y2137 w404 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f7 y2137 w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f8 y2137 w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x352 y2137 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f9 y2137 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fa y2137 w90 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">60<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y2137 w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fb y2137 w210 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fc y2137 w187 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">72<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2209 w40c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa8 wse8\">T<span class=\"_ _3\"></span>ax recognis<span class=\"_ _0\"></span>ed in equ<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fd y2209 w6f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fe y2209 w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ff y2209 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x700 y2209 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x701 y2209 wb8 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n x702 y2209 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x703 y2209 w159 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n x583 y2209 w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x704 y2209 w40d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y220a w40e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Foreign ex<span class=\"_ _0\"></span>change translation and other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x705 y220a w40f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">(39)<span class=\"_ _314\"> </span></div></td><td class=\"c n x706 y220a w410 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x707 y220a w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x708 y220a w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x709 y220a w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x70a y220a w159 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n x70b y220a w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x70c y220a w411 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">(<span class=\"_ _2\"></span>37)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y220b w15d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x70d y220b w412 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">(2,43<span class=\"_ _2\"></span>1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x70e y220b w413 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb4 wse2\">4<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td><td class=\"c n x70f y220b w95 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">66<span class=\"_ _314\"> </span></div></td><td class=\"c n x710 y220b w414 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls10d ws181\">77<span class=\"_ _314\"> </span></div></td><td class=\"c n x711 y220b w415 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa8 wsd5\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"c n x712 y220b w2d8 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">430<span class=\"_ _314\"> </span></div></td><td class=\"c n x713 y220b w3ff h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6f ws99\">69<span class=\"_ _314\"> </span></div></td><td class=\"c n x714 y220b w416 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">(<span class=\"_ _2\"></span>1,3<span class=\"_ _2\"></span>36)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y220c w403 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ax re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me s<span class=\"_ _2\"></span>tate<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ed y220c w404 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ee y220c w417 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls78 wse4\">2<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td><td class=\"c n x715 y220c w418 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">(246<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x716 y220c w419 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(19)<span class=\"_ _314\"> </span></div></td><td class=\"c n x717 y220c wa0 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x718 y220c w41a h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(5)<span class=\"_ _314\"> </span></div></td><td class=\"c n x719 y220c w41b h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(<span class=\"_ _2\"></span>72)<span class=\"_ _314\"> </span></div></td><td class=\"c n x71a y220c w41c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">34<span class=\"_ _314\"> </span></div></td><td class=\"c n x71b y220c w41d h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(3<span class=\"_ _2\"></span>5)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y213d w40b h24b\"><div class=\"t m2 x1e4 h193 y2208 ff71 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ax re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in ot<span class=\"_ _2\"></span>her<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f6 y213d w404 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f7 y213d w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f8 y213d w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x352 y213d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f9 y213d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x71c y213d w3ec h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n x71d y213d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x71e y213d w55 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x71f y213d w92 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(13)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w40c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa8 wse8\">T<span class=\"_ _3\"></span>ax recognis<span class=\"_ _0\"></span>ed in equ<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fd y20d9 w6f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fe y20d9 w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ff y20d9 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x700 y20d9 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x701 y20d9 wa6 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x720 y20d9 w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x721 y20d9 w41e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">17<span class=\"_ _314\"> </span></div></td><td class=\"c n x58d y20d9 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x722 y20d9 w3bf h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa8 wsd5\">30<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w40e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Foreign ex<span class=\"_ _0\"></span>change translation and other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x723 y20da w41f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls71 ws9a\">152<span class=\"_ _314\"> </span></div></td><td class=\"c n x724 y20da w36f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">(<span class=\"_ _2\"></span>22)<span class=\"_ _314\"> </span></div></td><td class=\"c n x725 y20da wa0 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x726 y20da w1a5 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x727 y20da w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x728 y20da w420 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls70 ws76\">(31)<span class=\"_ _314\"> </span></div></td><td class=\"c n x729 y20da w55 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x72a y20da w421 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls71 ws9a\">97<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w186 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x72b y2069 w422 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls39 ws0\">(<span class=\"_ _2\"></span>2,00<span class=\"_ _2\"></span>5)<span class=\"_ _314\"> </span></div></td><td class=\"c n x72c y2069 w423 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x72d y2069 w424 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls75 ws9e\">46<span class=\"_ _314\"> </span></div></td><td class=\"c n x72e y2069 w425 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">87<span class=\"_ _314\"> </span></div></td><td class=\"c n x72f y2069 w426 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls91 wsbf\">(40)<span class=\"_ _314\"> </span></div></td><td class=\"c n x589 y2069 w427 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsac wsd7\">344<span class=\"_ _314\"> </span></div></td><td class=\"c n x730 y2069 w428 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">105<span class=\"_ _314\"> </span></div></td><td class=\"c n x731 y2069 w3f4 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">(1<span class=\"_ _2\"></span>,257<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m2 hc ff71 fs7 fc1 sc0 ls7 ws48 gs26b\">1 <span class=\"_ _c\"> </span>The intangible assets hav<span class=\"_ _0\"></span>e mainly arisen from<span class=\"_ _0\"></span> acquired subsidiaries,<span class=\"_ _0\"></span> creating a def<span class=\"_ _0\"></span>erred tax liability due to<span class=\"_ _0\"></span> the difference between their ac<span class=\"_ _0\"></span>counting and tax treatment. On 31 December<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>5, </div><div class=\"t m2 hc ff71 fs7 fc1 sc0 ls29 ws47 gs26c\">this liability was \u00a32,005 million (20<span class=\"_ _0\"></span>24:<span class=\"_ _0\"></span> \u00a32,431 million), primarily relating to<span class=\"_ _0\"></span> the Refiniti<span class=\"_ _2\"></span>v<span class=\"_ _0\"></span> acquisition<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m2 hc ff71 fs7 fc1 sc0 lsb ws3 gs26d\">2 <span class=\"_ _7\"> </span>T<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>adew<span class=\"_ _2\"></span>eb Ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s LLC i<span class=\"_ _2\"></span>s a mul<span class=\"_ _2\"></span>tip<span class=\"_ _2\"></span>le m<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er lim<span class=\"_ _2\"></span>ite<span class=\"_ _2\"></span>d lia<span class=\"_ _2\"></span>bil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y com<span class=\"_ _2\"></span>pan<span class=\"_ _2\"></span>y ta<span class=\"_ _2\"></span>xed as a p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>tn<span class=\"_ _2\"></span>ers<span class=\"_ _2\"></span>hip a<span class=\"_ _2\"></span>nd ac<span class=\"_ _2\"></span>cord<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>ly a<span class=\"_ _2\"></span>ny ta<span class=\"_ _2\"></span>xab<span class=\"_ _2\"></span>le in<span class=\"_ _2\"></span>come g<span class=\"_ _2\"></span>ene<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ed by Trad<span class=\"_ _2\"></span>ewe<span class=\"_ _2\"></span>b Mar<span class=\"_ _2\"></span>ket<span class=\"_ _2\"></span>s LLC is pa<span class=\"_ _2\"></span>ss<span class=\"_ _2\"></span>ed th<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>gh to i<span class=\"_ _2\"></span>ts </div><div class=\"t m2 hc ff71 fs7 fc1 sc0 ls7 ws48 gs26e\">members. The investment in<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>tnership deferr<span class=\"_ _0\"></span>ed tax asset is<span class=\"_ _0\"></span> the dif<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>erence between the financial statement amount<span class=\"_ _0\"></span> and the tax basis<span class=\"_ _0\"></span> of the T<span class=\"_ _3\"></span>radeweb Markets Inc. investment in<span class=\"_ _0\"></span> Tradew<span class=\"_ _0\"></span>eb </div>Unr<span class=\"_ _2\"></span>ecogni<span class=\"_ _2\"></span>sed de<span class=\"_ _2\"></span>ferre<span class=\"_ _2\"></span>d tax as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>A<span class=\"_ _2\"></span>s at 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2025, t<span class=\"_ _2\"></span>he gro<span class=\"_ _2\"></span>ss amo<span class=\"_ _2\"></span>unt of u<span class=\"_ _2\"></span>nreco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed temporar<span class=\"_ _2\"></span>y differences in<span class=\"_ _0\"></span> respect of losses available f<span class=\"_ _0\"></span>or carr<span class=\"_ _2\"></span>y forward was \u00a3112 million<span class=\"_ _0\"></span> (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a311<span class=\"_ _2\"></span>0 mill<span class=\"_ _0\"></span>ion), all with unlimited expiration. Gross temporar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> dif<span class=\"_ _2\"></span>ferences<span class=\"_ _0\"></span> of \u00a365<span class=\"_ _0\"></span> million (20<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>4: \u00a34<span class=\"_ _0\"></span>1 million) ar<span class=\"_ _0\"></span>e also unrecognised in<span class=\"_ _0\"></span> respec<span class=\"_ _2\"></span>t o<span class=\"_ _0\"></span>f other tax at<span class=\"_ _2\"></span>tributes which will<span class=\"_ _0\"></span> expire within 10 years, and \u00a329 million (2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>4: nil)<span class=\"_ _0\"></span> unrecognised in respect of other tax at<span class=\"_ _2\"></span>tributes with unlimited expiration.<span class=\"_ _314\"> </span>The a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>ill be re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d in th<span class=\"_ _2\"></span>e fut<span class=\"_ _2\"></span>ure onl<span class=\"_ _2\"></span>y if su<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>cien<span class=\"_ _2\"></span>t forec<span class=\"_ _2\"></span>as<span class=\"_ _2\"></span>t taxable profit arises wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> the Group. Unrecognised deferred tax liabilities<span class=\"_ _314\"> </span>The aggregate<span class=\"_ _0\"></span> amount of temporary dif<span class=\"_ _2\"></span>ferences<span class=\"_ _0\"></span> associated with investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> subsidiaries, branches and associates<span class=\"_ _0\"></span> and interests in joint arrangements, for which de<span class=\"_ _0\"></span>ferred tax liabilities have<span class=\"_ _0\"></span> not been reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>5 i<span class=\"_ _2\"></span>s \u00a3434 m<span class=\"_ _2\"></span>illio<span class=\"_ _2\"></span>n (202<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>249 mill<span class=\"_ _2\"></span>ion<span class=\"_ _314\"> </span>6.<span class=\"_ _2\"></span>3. Un<span class=\"_ _2\"></span>cer<span class=\"_ _2\"></span>tain t<span class=\"_ _2\"></span>ax pos<span class=\"_ _2\"></span>ition<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Significant accounting judgement and estimates<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p is sub<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>t to ta<span class=\"_ _2\"></span>xati<span class=\"_ _2\"></span>on in t<span class=\"_ _2\"></span>he man<span class=\"_ _2\"></span>y coun<span class=\"_ _2\"></span>tri<span class=\"_ _2\"></span>es in wh<span class=\"_ _2\"></span>ich it o<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>. The ta<span class=\"_ _2\"></span>x leg<span class=\"_ _2\"></span>isla<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of the<span class=\"_ _2\"></span>se cou<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ies di<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fers<span class=\"_ _2\"></span>, is of<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>n com<span class=\"_ _2\"></span>plex a<span class=\"_ _2\"></span>nd can b<span class=\"_ _2\"></span>e subj<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t to inte<span class=\"_ _2\"></span>rpre<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ion by ma<span class=\"_ _2\"></span>nag<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>t and government authorities. These matter<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of judgement som<span class=\"_ _2\"></span>eti<span class=\"_ _2\"></span>mes gi<span class=\"_ _2\"></span>ve ri<span class=\"_ _2\"></span>se to th<span class=\"_ _2\"></span>e nee<span class=\"_ _2\"></span>d to create p<span class=\"_ _2\"></span>rovi<span class=\"_ _2\"></span>sion<span class=\"_ _2\"></span>s for ta<span class=\"_ _2\"></span>x pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>hat ma<span class=\"_ _2\"></span>y ari<span class=\"_ _2\"></span>se in fu<span class=\"_ _2\"></span>ture y<span class=\"_ _2\"></span>ears w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h resp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t to transac<span class=\"_ _2\"></span>tions already undertaken. Provisions are<span class=\"_ _0\"></span> made against individual exposures and tak<span class=\"_ _0\"></span>e into account the specific circumstances of each<span class=\"_ _0\"></span> case, including the st<span class=\"_ _2\"></span>ren<span class=\"_ _2\"></span>gth o<span class=\"_ _2\"></span>f techn<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>l argum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s, re<span class=\"_ _2\"></span>cent c<span class=\"_ _2\"></span>ase l<span class=\"_ _2\"></span>aw deci<span class=\"_ _2\"></span>sion<span class=\"_ _2\"></span>s or rulings on similar<span class=\"_ _0\"></span> issues and relevant e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>ternal advice.<span class=\"_ _0\"></span> In accordance wi<span class=\"_ _2\"></span>th I<span class=\"_ _2\"></span>FRI<span class=\"_ _2\"></span>C 23 <span class=\"ff74\">Unc<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>taint<span class=\"_ _2\"></span>y over In<span class=\"_ _2\"></span>come T<span class=\"_ _0\"></span>ax T<span class=\"_ _0\"></span>re<span class=\"_ _2\"></span>atme<span class=\"_ _2\"></span>nts<span class=\"ff71 ls10 ws20\">, provisions </span></span>are e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imate<span class=\"_ _2\"></span>d base<span class=\"_ _2\"></span>d on on<span class=\"_ _2\"></span>e of tw<span class=\"_ _2\"></span>o met<span class=\"_ _2\"></span>hods<span class=\"_ _2\"></span>: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">The e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d valu<span class=\"_ _2\"></span>e met<span class=\"_ _2\"></span>hod (<span class=\"_ _2\"></span>the s<span class=\"_ _2\"></span>um of th<span class=\"_ _2\"></span>e prob<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y </span>weighted amounts in a<span class=\"_ _0\"></span> range of possible outcomes<span class=\"_ _0\"></span>) <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The single most lik<span class=\"_ _0\"></span>ely amount method<span class=\"_ _314\"> </span></span>The m<span class=\"_ _2\"></span>eth<span class=\"_ _2\"></span>od cho<span class=\"_ _2\"></span>sen de<span class=\"_ _2\"></span>pen<span class=\"_ _2\"></span>ds on w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d to bet<span class=\"_ _2\"></span>ter<span class=\"_ _2\"></span> predict the resolution of the uncertaint<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Due to<span class=\"_ _0\"></span> the uncer<span class=\"_ _2\"></span>taint<span class=\"_ _2\"></span>y as<span class=\"_ _2\"></span>soci<span class=\"_ _2\"></span>ated w<span class=\"_ _2\"></span>ith t<span class=\"_ _2\"></span>ax au<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>s i<span class=\"_ _2\"></span>t is pos<span class=\"_ _2\"></span>sib<span class=\"_ _2\"></span>le tha<span class=\"_ _2\"></span>t, a<span class=\"_ _2\"></span>t some f<span class=\"_ _2\"></span>utu<span class=\"_ _2\"></span>re date,<span class=\"_ _2\"></span> liabilities resulting from such<span class=\"_ _0\"></span> audit<span class=\"_ _2\"></span>s or<span class=\"_ _0\"></span> related litigation could vary sig<span class=\"_ _2\"></span>nif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant<span class=\"_ _2\"></span>ly fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s p<span class=\"_ _2\"></span>rovi<span class=\"_ _2\"></span>sions<span class=\"_ _2\"></span>. Thi<span class=\"_ _2\"></span>s woul<span class=\"_ _2\"></span>d requ<span class=\"_ _2\"></span>ire th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up to ma<span class=\"_ _2\"></span>ke an adju<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t in a sub<span class=\"_ _2\"></span>sequ<span class=\"_ _2\"></span>ent p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d whi<span class=\"_ _2\"></span>ch coul<span class=\"_ _2\"></span>d have a m<span class=\"_ _2\"></span>ater<span class=\"_ _2\"></span>ial im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t on t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s resul<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span>R<span class=\"_ _2\"></span>S audit<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p has con<span class=\"_ _2\"></span>clud<span class=\"_ _2\"></span>ed it<span class=\"_ _2\"></span>s au<span class=\"_ _2\"></span>dit i<span class=\"_ _2\"></span>n the U<span class=\"_ _2\"></span>S by the I<span class=\"_ _2\"></span>nter<span class=\"_ _2\"></span>nal Rev<span class=\"_ _2\"></span>enue<span class=\"_ _2\"></span> Ser<span class=\"_ _2\"></span>vice (IRS) in r<span class=\"_ _0\"></span>elation to the inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> rate applied on certain cross-<span class=\"_ _314\"> </span>bo<span class=\"_ _2\"></span>rder in<span class=\"_ _2\"></span>terco<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y loan<span class=\"_ _2\"></span>s from t<span class=\"_ _2\"></span>he U<span class=\"_ _2\"></span>K to the U<span class=\"_ _2\"></span>S for th<span class=\"_ _2\"></span>e 2016<span class=\"_ _2\"></span>-2021<span class=\"_ _2\"></span> pe<span class=\"_ _2\"></span>riod<span class=\"_ _2\"></span>. The re<span class=\"_ _2\"></span>solu<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of th<span class=\"_ _2\"></span>is mat<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r did no<span class=\"_ _2\"></span>t have a ma<span class=\"_ _2\"></span>teria<span class=\"_ _2\"></span>l impa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span> on the Group\u2019<span class=\"_ _0\"></span>s financial position.<span class=\"_ _314\"> </span>HM<span class=\"_ _2\"></span>RC aud<span class=\"_ _2\"></span>it of inte<span class=\"_ _2\"></span>llec<span class=\"_ _2\"></span>tua<span class=\"_ _2\"></span>l prop<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>ty v<span class=\"_ _2\"></span>aluat<span class=\"_ _2\"></span>ion<span class=\"_ _314\"> </span>HM<span class=\"_ _2\"></span>RC<span class=\"_ _0\"></span> is auditing the value of certain intellectual proper<span class=\"_ _2\"></span>ty purchased fro<span class=\"_ _2\"></span>m Thom<span class=\"_ _2\"></span>son Re<span class=\"_ _2\"></span>uter<span class=\"_ _2\"></span>s as pa<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>t of the f<span class=\"_ _2\"></span>orma<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of Ref<span class=\"_ _2\"></span>ini<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>v<span class=\"_ _0\"></span>. In<span class=\"_ _2\"></span>telle<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y va<span class=\"_ _2\"></span>luat<span class=\"_ _2\"></span>ion is c<span class=\"_ _2\"></span>ompl<span class=\"_ _2\"></span>ex and s<span class=\"_ _2\"></span>igni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>tly a<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ted by mu<span class=\"_ _2\"></span>lt<span class=\"_ _2\"></span>iple<span class=\"_ _2\"></span> input<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of assumptions. A<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> the outcome is uncertain, especially given the inherent subjectiv<span class=\"_ _2\"></span>ity of the topic, the Group<span class=\"_ _0\"></span> recognises an uncertain tax liabilit<span class=\"_ _2\"></span>y in<span class=\"_ _0\"></span> accordance<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th the r<span class=\"_ _0\"></span>equirement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of IFRS. Management and H<span class=\"_ _2\"></span>M<span class=\"_ _2\"></span>RC agre<span class=\"_ _2\"></span>ed in p<span class=\"_ _2\"></span>rinc<span class=\"_ _2\"></span>iple o<span class=\"_ _2\"></span>n the m<span class=\"_ _2\"></span>ain as<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e audi<span class=\"_ _2\"></span>t and<span class=\"_ _2\"></span> conclusion is<span class=\"_ _0\"></span> anticipated following required<span class=\"_ _0\"></span> internal process by<span class=\"_ _0\"></span> HM<span class=\"_ _2\"></span>RC. Management believes that<span class=\"_ _0\"></span> resolut<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> of this matter will not hav<span class=\"_ _0\"></span>e a material impact on the Group<span class=\"_ _0\"></span>\u2019s financial position.<span class=\"_ _314\"> </span>Di<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>ted Prof<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s T<span class=\"_ _3\"></span>a<span class=\"_ _2\"></span>x to Thom<span class=\"_ _2\"></span>son Reu<span class=\"_ _2\"></span>ters<span class=\"_ _314\"> </span>HM<span class=\"_ _2\"></span>RC ha<span class=\"_ _2\"></span>s iss<span class=\"_ _2\"></span>ued no<span class=\"_ _2\"></span>tice<span class=\"_ _2\"></span>s of ass<span class=\"_ _2\"></span>ess<span class=\"_ _2\"></span>ment u<span class=\"_ _2\"></span>nder t<span class=\"_ _2\"></span>he Di<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d Prof<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s T<span class=\"_ _3\"></span>a<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> (D<span class=\"_ _2\"></span>PT) regime to<span class=\"_ _0\"></span> Thomson Reuters largely relat<span class=\"_ _0\"></span>ed to its Financial &amp; Ris<span class=\"_ _2\"></span>k Bus<span class=\"_ _2\"></span>ines<span class=\"_ _2\"></span>s for yea<span class=\"_ _2\"></span>rs pr<span class=\"_ _2\"></span>ior to t<span class=\"_ _2\"></span>he sa<span class=\"_ _2\"></span>le of th<span class=\"_ _2\"></span>e busi<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>s to Ref<span class=\"_ _2\"></span>ini<span class=\"_ _2\"></span>tiv. A<span class=\"_ _2\"></span>s requ<span class=\"_ _2\"></span>ired by t<span class=\"_ _2\"></span>he not<span class=\"_ _2\"></span>ice<span class=\"_ _2\"></span>s and as d<span class=\"_ _2\"></span>irec<span class=\"_ _2\"></span>ted b<span class=\"_ _2\"></span>y Thom<span class=\"_ _2\"></span>son Reu<span class=\"_ _2\"></span>ter<span class=\"_ _2\"></span>s, th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has ma<span class=\"_ _2\"></span>de pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to H<span class=\"_ _2\"></span>M<span class=\"_ _2\"></span>RC whi<span class=\"_ _2\"></span>ch were i<span class=\"_ _2\"></span>mmed<span class=\"_ _2\"></span>iatel<span class=\"_ _2\"></span>y reimbursed by Thomson<span class=\"_ _0\"></span> Reuters in accordanc<span class=\"_ _0\"></span>e wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> an indemnit<span class=\"_ _2\"></span>y agreement (described in<span class=\"_ _0\"></span> note 13 and<span class=\"_ _0\"></span> note 15). Thomson R<span class=\"_ _0\"></span>euters does not a<span class=\"_ _2\"></span>gree w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the a<span class=\"_ _2\"></span>sses<span class=\"_ _2\"></span>sme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s. T<span class=\"_ _0\"></span>o the e<span class=\"_ _2\"></span>xt<span class=\"_ _2\"></span>ent t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up rece<span class=\"_ _2\"></span>ives a<span class=\"_ _2\"></span>ny refu<span class=\"_ _2\"></span>nds of t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>, such ref<span class=\"_ _2\"></span>und<span class=\"_ _2\"></span>s are remi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ted to Th<span class=\"_ _2\"></span>oms<span class=\"_ _2\"></span>on Reuters in ac<span class=\"_ _0\"></span>cordance with the indemnit<span class=\"_ _2\"></span>y agr<span class=\"_ _0\"></span>eement<span class=\"_ _314\"> <span class=\"_ _314\"> </span></span><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls22 ws3 gs288\">US ta<span class=\"_ _2\"></span>x cred<span class=\"_ _2\"></span>its<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs289\">An uncert<span class=\"_ _2\"></span>ain<span class=\"_ _0\"></span> tax liabilit<span class=\"_ _2\"></span>y has been<span class=\"_ _0\"></span> recognised in respect of taxes<span class=\"_ _0\"></span> in </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs28a\">the US, where the Group<span class=\"_ _0\"></span> has a similar fact pattern to another taxpayer </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs28b\">who is part<span class=\"_ _2\"></span>icipating in<span class=\"_ _0\"></span> ongoing legal proceedings on the m<span class=\"_ _0\"></span>at<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span>. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs28c\">Management believes that<span class=\"_ _0\"></span> t<span class=\"_ _2\"></span>he<span class=\"_ _0\"></span> resolution of this matter will not ha<span class=\"_ _0\"></span>ve </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs28d\">a material<span class=\"_ _0\"></span> impac<span class=\"_ _2\"></span>t on<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> position<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls51 ws73 gs28e\">Intercompan<span class=\"_ _0\"></span>y financing arrangements<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs28f\">The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p has rec<span class=\"_ _2\"></span>eive<span class=\"_ _2\"></span>d inqu<span class=\"_ _2\"></span>iri<span class=\"_ _2\"></span>es from H<span class=\"_ _2\"></span>M<span class=\"_ _2\"></span>RC in rel<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>n to th<span class=\"_ _2\"></span>e tax </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs290\">treatment of certain historical intercompany financing arrangements<span class=\"_ _2\"></span>. </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs291\">Di<span class=\"_ _2\"></span>scus<span class=\"_ _2\"></span>sion<span class=\"_ _2\"></span>s are at an e<span class=\"_ _2\"></span>arl<span class=\"_ _2\"></span>y st<span class=\"_ _2\"></span>age, a<span class=\"_ _2\"></span>nd it i<span class=\"_ _2\"></span>s not cu<span class=\"_ _2\"></span>rrent<span class=\"_ _2\"></span>ly p<span class=\"_ _2\"></span>oss<span class=\"_ _2\"></span>ible to<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs292\">determine whether HMRC will pursue its inquiries fur<span class=\"_ _2\"></span>ther<span class=\"_ _0\"></span>, or to<span class=\"_ _0\"></span> reliably </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs293\">quantif<span class=\"_ _2\"></span>y any pot<span class=\"_ _0\"></span>ent<span class=\"_ _2\"></span>ial<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y that might<span class=\"_ _0\"></span> result. The Group is of<span class=\"_ _0\"></span> the view </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs294\">that its his<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>orical tax f<span class=\"_ _2\"></span>iling positions are<span class=\"_ _0\"></span> appropriate and has<span class=\"_ _0\"></span> determined </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs295\">th<span class=\"_ _2\"></span>at a fu<span class=\"_ _2\"></span>ture ou<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ow of ec<span class=\"_ _2\"></span>onom<span class=\"_ _2\"></span>ic ben<span class=\"_ _2\"></span>ef<span class=\"_ _2\"></span>it is no<span class=\"_ _2\"></span>t prob<span class=\"_ _2\"></span>able i<span class=\"_ _2\"></span>n relat<span class=\"_ _2\"></span>ion to<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs296\">it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> intercompany financing arrangement<span class=\"_ _2\"></span>s. As a<span class=\"_ _0\"></span> result<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> no provision for </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs27\">fur<span class=\"_ _2\"></span>ther tax liability has been recognised.<span class=\"_ _314\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-483": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>In<span class=\"_ _2\"></span>come t<span class=\"_ _2\"></span>ax com<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>ses cu<span class=\"_ _2\"></span>rren<span class=\"_ _2\"></span>t and defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax<span class=\"_ _2\"></span>. Cur<span class=\"_ _2\"></span>rent a<span class=\"_ _2\"></span>nd deferred<span class=\"_ _0\"></span> tax charges and benefit<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e recognised in<span class=\"_ _0\"></span> the income st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent exce<span class=\"_ _2\"></span>pt to th<span class=\"_ _2\"></span>e ex<span class=\"_ _2\"></span>tent t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>hey rela<span class=\"_ _2\"></span>te to ite<span class=\"_ _2\"></span>ms reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed direct<span class=\"_ _2\"></span>ly in<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y or other c<span class=\"_ _0\"></span>omprehensive income.<span class=\"_ _314\"> </span>Current income<span class=\"_ _0\"></span> tax<span class=\"ff71 ls3 ws3\"> is c<span class=\"_ _2\"></span>alcu<span class=\"_ _2\"></span>late<span class=\"_ _2\"></span>d base<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e tax l<span class=\"_ _2\"></span>aws en<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>ted </span>or substanti<span class=\"_ _2\"></span>vely en<span class=\"_ _0\"></span>ac<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> at the balance sheet<span class=\"_ _0\"></span> date in the c<span class=\"_ _0\"></span>ountr<span class=\"_ _2\"></span>ies where the Group operates<span class=\"_ _0\"></span> and generates taxable income<span class=\"_ _0\"></span>. Current income tax assets and liabilities are<span class=\"_ _0\"></span> measured at the amount exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted to b<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>red fro<span class=\"_ _2\"></span>m or pai<span class=\"_ _2\"></span>d to ta<span class=\"_ _2\"></span>xati<span class=\"_ _2\"></span>on au<span class=\"_ _2\"></span>tho<span class=\"_ _2\"></span>rit<span class=\"_ _2\"></span>ies<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Deferred tax<span class=\"ff71 ls3 ws3\"> is t<span class=\"_ _2\"></span>he ta<span class=\"_ _2\"></span>x exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted to be p<span class=\"_ _2\"></span>ayab<span class=\"_ _2\"></span>le or re<span class=\"_ _2\"></span>cover<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e in </span>the future on differences between the carr<span class=\"_ _2\"></span>ying amount o<span class=\"_ _0\"></span>f asset<span class=\"_ _2\"></span>s and liabilities for<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting purposes and the corr<span class=\"_ _0\"></span>esponding<span class=\"_ _2\"></span> amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s us<span class=\"_ _2\"></span>ed for t<span class=\"_ _2\"></span>ax pur<span class=\"_ _2\"></span>pos<span class=\"_ _2\"></span>es. D<span class=\"_ _2\"></span>eferre<span class=\"_ _2\"></span>d tax i<span class=\"_ _2\"></span>s accou<span class=\"_ _2\"></span>nted fo<span class=\"_ _2\"></span>r using the liability method and calculated using<span class=\"_ _0\"></span> ta<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> rates that are substant<span class=\"_ _2\"></span>ively enacted and e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>ted to<span class=\"_ _0\"></span> apply in the period when the asset is r<span class=\"_ _0\"></span>ealised or the liability set<span class=\"_ _2\"></span>tled<span class=\"_ _314\"> </span>Defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax is n<span class=\"_ _2\"></span>ot reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for<span class=\"_ _2\"></span>: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">T<span class=\"_ _3\"></span>empo<span class=\"_ _2\"></span>rary dif<span class=\"_ _2\"></span>ferenc<span class=\"_ _0\"></span>es on the initial recognition of<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s </span>or liabilities in a<span class=\"_ _0\"></span> trans<span class=\"_ _2\"></span>action that is not<span class=\"_ _0\"></span> a business combination and t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>ffe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>ts ne<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>her th<span class=\"_ _2\"></span>e accou<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ng pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t nor t<span class=\"_ _2\"></span>axab<span class=\"_ _2\"></span>le pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">T<span class=\"_ _3\"></span>empo<span class=\"_ _2\"></span>rary dif<span class=\"_ _2\"></span>ferenc<span class=\"_ _0\"></span>es arising on the initial r<span class=\"_ _0\"></span>ecognit<span class=\"_ _2\"></span>ion </span>of goodwill<span class=\"_ _314\"> </span>Deferred<span class=\"_ _0\"></span> ta<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> liabilities are recognised f<span class=\"_ _0\"></span>or taxable temporar<span class=\"_ _2\"></span>y dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ences associated with interests in subsidiaries and<span class=\"_ _0\"></span> associates, exc<span class=\"_ _0\"></span>ept where the Group is<span class=\"_ _0\"></span> able to control<span class=\"_ _0\"></span> the timing of the rev<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>sal of t<span class=\"_ _2\"></span>he temp<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y dif<span class=\"_ _2\"></span>fere<span class=\"_ _2\"></span>nce an<span class=\"_ _2\"></span>d it is p<span class=\"_ _2\"></span>robab<span class=\"_ _2\"></span>le th<span class=\"_ _2\"></span>at th<span class=\"_ _2\"></span>e temp<span class=\"_ _2\"></span>orar<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span> dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ence will not r<span class=\"_ _0\"></span>everse in the for<span class=\"_ _0\"></span>eseeable future. Deferr<span class=\"_ _0\"></span>ed tax assets arising from deduct<span class=\"_ _2\"></span>ible t<span class=\"_ _0\"></span>emporar<span class=\"_ _2\"></span>y dif<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>erences associated wi<span class=\"_ _2\"></span>th su<span class=\"_ _2\"></span>ch int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>re recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d onl<span class=\"_ _2\"></span>y to th<span class=\"_ _2\"></span>e ex<span class=\"_ _2\"></span>tent t<span class=\"_ _2\"></span>hat it i<span class=\"_ _2\"></span>s pro<span class=\"_ _2\"></span>babl<span class=\"_ _2\"></span>e tha<span class=\"_ _2\"></span>t the<span class=\"_ _2\"></span>re wil<span class=\"_ _2\"></span>l be suf<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ient t<span class=\"_ _2\"></span>axab<span class=\"_ _2\"></span>le pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>gain<span class=\"_ _2\"></span>st w<span class=\"_ _2\"></span>hich<span class=\"_ _2\"></span> to utilise the benefit<span class=\"_ _2\"></span>s o<span class=\"_ _0\"></span>f the temporar<span class=\"_ _2\"></span>y differences and<span class=\"_ _0\"></span> they are expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed to re<span class=\"_ _0\"></span>verse in the foreseeable<span class=\"_ _0\"></span> fu<span class=\"_ _2\"></span>ture<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>The c<span class=\"_ _2\"></span>arr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>moun<span class=\"_ _2\"></span>t of defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s is rev<span class=\"_ _2\"></span>iewe<span class=\"_ _2\"></span>d at eac<span class=\"_ _2\"></span>h rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date a<span class=\"_ _2\"></span>nd redu<span class=\"_ _2\"></span>ced to t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t that i<span class=\"_ _2\"></span>t is no l<span class=\"_ _2\"></span>ong<span class=\"_ _2\"></span>er pro<span class=\"_ _2\"></span>babl<span class=\"_ _2\"></span>e tha<span class=\"_ _2\"></span>t suf<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ici<span class=\"_ _2\"></span>ent ta<span class=\"_ _2\"></span>xab<span class=\"_ _2\"></span>le prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t will b<span class=\"_ _2\"></span>e ava<span class=\"_ _2\"></span>ilab<span class=\"_ _2\"></span>le to all<span class=\"_ _2\"></span>ow all o<span class=\"_ _2\"></span>r par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set to b<span class=\"_ _2\"></span>e ut<span class=\"_ _2\"></span>ilis<span class=\"_ _2\"></span>ed. U<span class=\"_ _2\"></span>nreco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are re<span class=\"_ _2\"></span>-a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>d at each r<span class=\"_ _2\"></span>epor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ing d<span class=\"_ _2\"></span>ate and<span class=\"_ _2\"></span> are re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised to t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t tha<span class=\"_ _2\"></span>t it ha<span class=\"_ _2\"></span>s beco<span class=\"_ _2\"></span>me pro<span class=\"_ _2\"></span>babl<span class=\"_ _2\"></span>e tha<span class=\"_ _2\"></span>t fu<span class=\"_ _2\"></span>ture t<span class=\"_ _2\"></span>axab<span class=\"_ _2\"></span>le pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>ill a<span class=\"_ _2\"></span>llow t<span class=\"_ _2\"></span>he defe<span class=\"_ _2\"></span>rred t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set to be r<span class=\"_ _0\"></span>ecover<span class=\"_ _0\"></span>ed.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>a<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> liabilities are offset when there is a<span class=\"_ _0\"></span> legall<span class=\"_ _2\"></span>y enfo<span class=\"_ _2\"></span>rceab<span class=\"_ _2\"></span>le ri<span class=\"_ _2\"></span>ght to se<span class=\"_ _2\"></span>t of<span class=\"_ _2\"></span>f cur<span class=\"_ _2\"></span>rent t<span class=\"_ _2\"></span>ax as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s agai<span class=\"_ _2\"></span>ns<span class=\"_ _2\"></span>t curre<span class=\"_ _2\"></span>nt ta<span class=\"_ _2\"></span>x liabilities and when they r<span class=\"_ _0\"></span>elate to<span class=\"_ _0\"></span> income taxes levied by<span class=\"_ _0\"></span> the same ta<span class=\"_ _2\"></span>xat<span class=\"_ _2\"></span>ion au<span class=\"_ _2\"></span>tho<span class=\"_ _2\"></span>rit<span class=\"_ _2\"></span>y o<span class=\"_ _2\"></span>n eit<span class=\"_ _2\"></span>her t<span class=\"_ _2\"></span>he sam<span class=\"_ _2\"></span>e tax<span class=\"_ _2\"></span>able e<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y or on d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>feren<span class=\"_ _2\"></span>t ta<span class=\"_ _2\"></span>xabl<span class=\"_ _2\"></span>e ent<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies wh<span class=\"_ _2\"></span>ich in<span class=\"_ _2\"></span>tend to s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle t<span class=\"_ _2\"></span>he cu<span class=\"_ _2\"></span>rrent t<span class=\"_ _2\"></span>ax a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s an<span class=\"_ _2\"></span>d liabilities on a net<span class=\"_ _0\"></span> basis.<span class=\"_ _314\"> </span>In re<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>ion to G<span class=\"_ _2\"></span>loba<span class=\"_ _2\"></span>l Min<span class=\"_ _2\"></span>imum T<span class=\"_ _0\"></span>a<span class=\"_ _2\"></span>x, t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up has a<span class=\"_ _2\"></span>ppli<span class=\"_ _2\"></span>ed a mandatory temporary exce<span class=\"_ _0\"></span>ption from def<span class=\"_ _0\"></span>erred tax ac<span class=\"_ _0\"></span>counting for th<span class=\"_ _2\"></span>e impa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s of t<span class=\"_ _2\"></span>he top<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>up ta<span class=\"_ _2\"></span>x and w<span class=\"_ _2\"></span>ill ac<span class=\"_ _2\"></span>coun<span class=\"_ _2\"></span>t for it a<span class=\"_ _2\"></span>s a curre<span class=\"_ _2\"></span>nt ta<span class=\"_ _2\"></span>x whe<span class=\"_ _2\"></span>n it is i<span class=\"_ _2\"></span>ncur<span class=\"_ _2\"></span>red.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-484": {
   "value": "<div class=\"t m2 h4 ff72 fs1 fc2 sc0 ls22 ws3 gs22e\">5.<span class=\"_ _2\"></span>2 Gai<span class=\"_ _2\"></span>ns on dig<span class=\"_ _2\"></span>ital a<span class=\"_ _2\"></span>nd rela<span class=\"_ _2\"></span>ted ass<span class=\"_ _2\"></span>ets</div><div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls2 ws2 gs22f\">  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs230\">Digital asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are recognised as<span class=\"_ _0\"></span> current intangible assets and </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs231\">ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly m<span class=\"_ _2\"></span>easu<span class=\"_ _2\"></span>red at co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>. Fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>ing in<span class=\"_ _2\"></span>iti<span class=\"_ _2\"></span>al reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n, th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>ets<span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs232\">are carried at<span class=\"_ _0\"></span> cost less any impairment losses. As the Group\u2019<span class=\"_ _0\"></span>s </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs233\">digital asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> have indefinite useful lives, they ar<span class=\"_ _0\"></span>e not amort<span class=\"_ _2\"></span>ised </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs234\">but are t<span class=\"_ _0\"></span>ested for impairment annually<span class=\"_ _0\"></span>, with any impairment losses </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs235\">recognised in<span class=\"_ _0\"></span> the income statement<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs236\">Im<span class=\"_ _2\"></span>pair<span class=\"_ _2\"></span>ment i<span class=\"_ _2\"></span>s mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>s the a<span class=\"_ _2\"></span>moun<span class=\"_ _2\"></span>t by whi<span class=\"_ _2\"></span>ch th<span class=\"_ _2\"></span>e car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs237\">val<span class=\"_ _2\"></span>ue excee<span class=\"_ _2\"></span>ds t<span class=\"_ _2\"></span>he recov<span class=\"_ _2\"></span>erab<span class=\"_ _2\"></span>le am<span class=\"_ _2\"></span>ount<span class=\"_ _2\"></span>, wh<span class=\"_ _2\"></span>ich is t<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>pic<span class=\"_ _2\"></span>all<span class=\"_ _2\"></span>y </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs238\">determined using fair<span class=\"_ _0\"></span> value less costs of disposal. Digital assets </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs239\">are der<span class=\"_ _0\"></span>ecognised on disposal or when no<span class=\"_ _0\"></span> future economic </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs23a\">benefi<span class=\"_ _2\"></span>ts are<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted t<span class=\"_ _0\"></span>o arise. Gains or<span class=\"_ _0\"></span> losses on derecognition </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws5 gs23b\">are r<span class=\"_ _0\"></span>ecognised in the income statement as<span class=\"_ _0\"></span> the dif<span class=\"_ _2\"></span>ferenc<span class=\"_ _0\"></span>e between </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs23c\">the disposal proceeds and<span class=\"_ _0\"></span> the carr<span class=\"_ _2\"></span>ying amount of the asset.<span class=\"_ _314\"> </span></div>",
   "dimensions": {
    "concept": "lseg:DescriptionOfAccountingPolicyForGainsOnDigitalAndRelatedAssets",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-541": {
   "value": "6.<span class=\"_ _2\"></span>2 Net d<span class=\"_ _2\"></span>eferr<span class=\"_ _2\"></span>ed tax l<span class=\"_ _2\"></span>iabil<span class=\"_ _2\"></span>itie<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span><table class=\"s w3f0 h249\" id=\"_ba9f6070-4dc2-413b-9536-ff0b52c15179\"><tr><td></td><td class=\"c n x4e9 y21fc w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y21fc w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x6bf y21fd w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c0 y21fd w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e wc9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Defe<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>d tax a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c1 y213e wcb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls71 ws9a\">528<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c2 y213e wcc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">659<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w106 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Deferred<span class=\"_ _0\"></span> tax liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c3 y2068 w3f1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb0 wsdb\">(1,7<span class=\"_ _2\"></span>85)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c4 y2068 w3f2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">(<span class=\"_ _2\"></span>1,995)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w3f3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">Net deferred tax liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c5 y2069 w3f4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">(1,<span class=\"_ _2\"></span>257<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c6 y2069 w3f5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">(1,<span class=\"_ _2\"></span>336)<span class=\"_ _314\"> </span></div></td></tr></table>The movements in def<span class=\"_ _0\"></span>erred tax assets and liabilities during the year<span class=\"_ _0\"></span> are shown below:<span class=\"_ _314\"> </span><table class=\"s w3f6 h24a\" id=\"_e232fb7c-d860-468f-903d-1547e7677af0\"><tr><td></td><td></td><td></td><td class=\"t m2 x6c7 h13 y21fe ff72 fs6 fc1 sc0 lse5 ws75\">T<span class=\"_ _0\"></span>ax losses </td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x6c8 h13 y21ff ff72 fs6 fc1 sc0 ls77 wsa0\">Goodwill </td><td class=\"t m2 x6c9 h13 y21ff ff72 fs6 fc1 sc0 ls12 ws44\">and other </td><td></td><td></td><td></td><td></td><td class=\"t m2 x6ca h13 y21ff ff72 fs6 fc1 sc0 lse0 ws110\">Provisions </td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x6cb h13 y2200 ff72 fs6 fc1 sc0 ls4 ws3\">and </td><td class=\"t m2 x6cc h13 y2200 ff72 fs6 fc1 sc0 ls110 ws183\">carr<span class=\"_ _2\"></span>y-<span class=\"_ _314\"> </span></td><td class=\"t m2 x6cd h13 y2200 ff72 fs6 fc1 sc0 lse0 ws110\">Proper<span class=\"_ _2\"></span>ty, </td><td></td><td class=\"t m2 x6ce h13 y2200 ff72 fs6 fc1 sc0 ls27 ws45\">Retirement </td><td></td><td class=\"t m2 x6cf h13 y2200 ff72 fs6 fc1 sc0 ls12 ws44\">and other </td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x6d0 h13 y2201 ff72 fs6 fc1 sc0 lse5 ws125\">intangible<span class=\"_ _314\"> </span></td><td class=\"t m2 x6d1 h13 y2201 ff72 fs6 fc1 sc0 ls110 ws183\">forward </td><td class=\"t m2 x6cd h13 y2201 ff72 fs6 fc1 sc0 ls110 ws7\">plant and </td><td class=\"t m2 x6d2 h13 y2201 ff72 fs6 fc1 sc0 ls4 ws3\">Share </td><td class=\"t m2 x6d3 h13 y2201 ff72 fs6 fc1 sc0 ls27 ws45\">benefit </td><td class=\"t m2 x6d4 h13 y2201 ff72 fs6 fc1 sc0 ls12 ws44\">Investment in<span class=\"_ _314\"> </span></td><td class=\"t m2 x6d5 h13 y2201 ff72 fs6 fc1 sc0 ls12 ws81\">temporary </td><td></td></tr><tr><td></td><td></td><td class=\"c x6d7 y2203 w3f7 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 lse5 ws125\">assets</div><div class=\"t m2 x6d6 h1c4 y2202 ff72 fs12b fc1 sc0 ls4 ws3\">1</div></td><td class=\"t m2 x6c9 h13 y2204 ff72 fs6 fc1 sc0 lse5 ws125\">attributes<span class=\"_ _314\"> </span></td><td class=\"t m2 x6d8 h13 y2204 ff72 fs6 fc1 sc0 lse5 ws125\">equipment<span class=\"_ _314\"> </span></td><td class=\"t m2 x6d9 h13 y2204 ff72 fs6 fc1 sc0 ls12 ws81\">schemes<span class=\"_ _314\"> </span></td><td class=\"t m2 x6ce h13 y2204 ff72 fs6 fc1 sc0 lse5 ws125\">obligations<span class=\"_ _314\"> </span></td><td class=\"c x6db y2203 w3f8 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls12 ws81\">partnerships</div><div class=\"t m2 x6da h1c4 y2202 ff72 fs12b fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x2a0 y2203 w3f9 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls12 ws81\">differences<span class=\"_ _314\"> </span></div></td><td class=\"c n x6dc y2203 w3fa h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2205 w3fb h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">Group<span class=\"_ _314\"> </span></div></td><td class=\"c n x6dd y2205 w3fc h225\"><div class=\"t m2 x1e4 h193 y204b ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x6de y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6df y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e0 y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e1 y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e2 y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e3 y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e4 y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e5 y2205 w34 h225\"><div class=\"t m2 x1e4 h193 y204b ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2206 w12c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x6e6 y2206 w3fd h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">(2,6<span class=\"_ _0\"></span>68)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e7 y2206 w3fe h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">575<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e8 y2206 w3ff h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6f ws99\">69<span class=\"_ _314\"> </span></div></td><td class=\"c n x6e9 y2206 w3ff h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">65<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ea y2206 w1a9 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6eb y2206 w400 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">466<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ec y2206 w401 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td><td class=\"c n x2fb y2206 w402 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">(<span class=\"_ _2\"></span>1,476<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2207 w403 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ax re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me s<span class=\"_ _2\"></span>tate<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ed y2207 w404 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ee y2207 w405 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls72 ws9b\">276<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ef y2207 w406 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">(114)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f0 y2207 w407 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsac wsd7\">(<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f1 y2207 w38b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f2 y2207 w408 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws1\">(41<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f3 y2207 w409 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f4 y2207 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f5 y2207 w40a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">106<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2137 w40b h24b\"><div class=\"t m2 x1e4 h193 y2208 ff71 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ax re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in ot<span class=\"_ _2\"></span>her<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f6 y2137 w404 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f7 y2137 w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f8 y2137 w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x352 y2137 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f9 y2137 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fa y2137 w90 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">60<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y2137 w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fb y2137 w210 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fc y2137 w187 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">72<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2209 w40c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa8 wse8\">T<span class=\"_ _3\"></span>ax recognis<span class=\"_ _0\"></span>ed in equ<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fd y2209 w6f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fe y2209 w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ff y2209 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x700 y2209 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x701 y2209 wb8 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n x702 y2209 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x703 y2209 w159 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n x583 y2209 w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x704 y2209 w40d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y220a w40e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Foreign ex<span class=\"_ _0\"></span>change translation and other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x705 y220a w40f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">(39)<span class=\"_ _314\"> </span></div></td><td class=\"c n x706 y220a w410 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x707 y220a w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x708 y220a w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x709 y220a w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x70a y220a w159 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n x70b y220a w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x70c y220a w411 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">(<span class=\"_ _2\"></span>37)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y220b w15d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x70d y220b w412 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">(2,43<span class=\"_ _2\"></span>1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x70e y220b w413 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb4 wse2\">4<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td><td class=\"c n x70f y220b w95 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">66<span class=\"_ _314\"> </span></div></td><td class=\"c n x710 y220b w414 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls10d ws181\">77<span class=\"_ _314\"> </span></div></td><td class=\"c n x711 y220b w415 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa8 wsd5\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"c n x712 y220b w2d8 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">430<span class=\"_ _314\"> </span></div></td><td class=\"c n x713 y220b w3ff h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6f ws99\">69<span class=\"_ _314\"> </span></div></td><td class=\"c n x714 y220b w416 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">(<span class=\"_ _2\"></span>1,3<span class=\"_ _2\"></span>36)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y220c w403 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ax re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me s<span class=\"_ _2\"></span>tate<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ed y220c w404 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ee y220c w417 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls78 wse4\">2<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td><td class=\"c n x715 y220c w418 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">(246<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x716 y220c w419 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(19)<span class=\"_ _314\"> </span></div></td><td class=\"c n x717 y220c wa0 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x718 y220c w41a h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(5)<span class=\"_ _314\"> </span></div></td><td class=\"c n x719 y220c w41b h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(<span class=\"_ _2\"></span>72)<span class=\"_ _314\"> </span></div></td><td class=\"c n x71a y220c w41c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">34<span class=\"_ _314\"> </span></div></td><td class=\"c n x71b y220c w41d h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(3<span class=\"_ _2\"></span>5)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y213d w40b h24b\"><div class=\"t m2 x1e4 h193 y2208 ff71 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ax re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in ot<span class=\"_ _2\"></span>her<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f6 y213d w404 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f7 y213d w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f8 y213d w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x352 y213d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6f9 y213d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x71c y213d w3ec h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n x71d y213d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x71e y213d w55 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x71f y213d w92 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(13)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w40c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa8 wse8\">T<span class=\"_ _3\"></span>ax recognis<span class=\"_ _0\"></span>ed in equ<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fd y20d9 w6f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6fe y20d9 w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ff y20d9 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x700 y20d9 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x701 y20d9 wa6 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x720 y20d9 w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x721 y20d9 w41e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">17<span class=\"_ _314\"> </span></div></td><td class=\"c n x58d y20d9 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x722 y20d9 w3bf h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa8 wsd5\">30<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w40e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Foreign ex<span class=\"_ _0\"></span>change translation and other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x723 y20da w41f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls71 ws9a\">152<span class=\"_ _314\"> </span></div></td><td class=\"c n x724 y20da w36f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">(<span class=\"_ _2\"></span>22)<span class=\"_ _314\"> </span></div></td><td class=\"c n x725 y20da wa0 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x726 y20da w1a5 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x727 y20da w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x728 y20da w420 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls70 ws76\">(31)<span class=\"_ _314\"> </span></div></td><td class=\"c n x729 y20da w55 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x72a y20da w421 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls71 ws9a\">97<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w186 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x72b y2069 w422 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls39 ws0\">(<span class=\"_ _2\"></span>2,00<span class=\"_ _2\"></span>5)<span class=\"_ _314\"> </span></div></td><td class=\"c n x72c y2069 w423 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x72d y2069 w424 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls75 ws9e\">46<span class=\"_ _314\"> </span></div></td><td class=\"c n x72e y2069 w425 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">87<span class=\"_ _314\"> </span></div></td><td class=\"c n x72f y2069 w426 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls91 wsbf\">(40)<span class=\"_ _314\"> </span></div></td><td class=\"c n x589 y2069 w427 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsac wsd7\">344<span class=\"_ _314\"> </span></div></td><td class=\"c n x730 y2069 w428 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">105<span class=\"_ _314\"> </span></div></td><td class=\"c n x731 y2069 w3f4 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">(1<span class=\"_ _2\"></span>,257<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>The intangible assets hav<span class=\"_ _0\"></span>e mainly arisen from<span class=\"_ _0\"></span> acquired subsidiaries,<span class=\"_ _0\"></span> creating a def<span class=\"_ _0\"></span>erred tax liability due to<span class=\"_ _0\"></span> the difference between their ac<span class=\"_ _0\"></span>counting and tax treatment. On 31 December<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>5, this liability was \u00a32,005 million (20<span class=\"_ _0\"></span>24:<span class=\"_ _0\"></span> \u00a32,431 million), primarily relating to<span class=\"_ _0\"></span> the Refiniti<span class=\"_ _2\"></span>v<span class=\"_ _0\"></span> acquisition<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>T<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>adew<span class=\"_ _2\"></span>eb Ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s LLC i<span class=\"_ _2\"></span>s a mul<span class=\"_ _2\"></span>tip<span class=\"_ _2\"></span>le m<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er lim<span class=\"_ _2\"></span>ite<span class=\"_ _2\"></span>d lia<span class=\"_ _2\"></span>bil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y com<span class=\"_ _2\"></span>pan<span class=\"_ _2\"></span>y ta<span class=\"_ _2\"></span>xed as a p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>tn<span class=\"_ _2\"></span>ers<span class=\"_ _2\"></span>hip a<span class=\"_ _2\"></span>nd ac<span class=\"_ _2\"></span>cord<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>ly a<span class=\"_ _2\"></span>ny ta<span class=\"_ _2\"></span>xab<span class=\"_ _2\"></span>le in<span class=\"_ _2\"></span>come g<span class=\"_ _2\"></span>ene<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ed by Trad<span class=\"_ _2\"></span>ewe<span class=\"_ _2\"></span>b Mar<span class=\"_ _2\"></span>ket<span class=\"_ _2\"></span>s LLC is pa<span class=\"_ _2\"></span>ss<span class=\"_ _2\"></span>ed th<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>gh to i<span class=\"_ _2\"></span>ts members. The investment in<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>tnership deferr<span class=\"_ _0\"></span>ed tax asset is<span class=\"_ _0\"></span> the dif<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>erence between the financial statement amount<span class=\"_ _0\"></span> and the tax basis<span class=\"_ _0\"></span> of the T<span class=\"_ _3\"></span>radeweb Markets Inc. investment in<span class=\"_ _0\"></span> Tradew<span class=\"_ _0\"></span>eb M<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>ket<span class=\"_ _2\"></span>s L<span class=\"_ _2\"></span>LC<span class=\"_ _314\"> </span><div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls22 ws3 gs270\">Unr<span class=\"_ _2\"></span>ecogni<span class=\"_ _2\"></span>sed de<span class=\"_ _2\"></span>ferre<span class=\"_ _2\"></span>d tax as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs271\">A<span class=\"_ _2\"></span>s at 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2025, t<span class=\"_ _2\"></span>he gro<span class=\"_ _2\"></span>ss amo<span class=\"_ _2\"></span>unt of u<span class=\"_ _2\"></span>nreco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs272\">temporar<span class=\"_ _2\"></span>y differences in<span class=\"_ _0\"></span> respect of losses available f<span class=\"_ _0\"></span>or carr<span class=\"_ _2\"></span>y forward </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs273\">was \u00a3112 million<span class=\"_ _0\"></span> (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a311<span class=\"_ _2\"></span>0 mill<span class=\"_ _0\"></span>ion), all with unlimited expiration. </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs274\">Gross temporar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> dif<span class=\"_ _2\"></span>ferences<span class=\"_ _0\"></span> of \u00a365<span class=\"_ _0\"></span> million (20<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>4: \u00a34<span class=\"_ _0\"></span>1 million) ar<span class=\"_ _0\"></span>e also </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs275\">unrecognised in<span class=\"_ _0\"></span> respec<span class=\"_ _2\"></span>t o<span class=\"_ _0\"></span>f other tax at<span class=\"_ _2\"></span>tributes which will<span class=\"_ _0\"></span> expire within </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs276\">10 years, and \u00a329 million (2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>4: nil)<span class=\"_ _0\"></span> unrecognised in respect of other </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs277\">tax at<span class=\"_ _2\"></span>tributes with unlimited expiration.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs278\">The a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>ill be re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d in th<span class=\"_ _2\"></span>e fut<span class=\"_ _2\"></span>ure onl<span class=\"_ _2\"></span>y if su<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>cien<span class=\"_ _2\"></span>t forec<span class=\"_ _2\"></span>as<span class=\"_ _2\"></span>t </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs279\">taxable profit arises wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> the Group. </div><div class=\"t m2 h4 ff72 fs1 fc1 sc0 ls4 ws2b gs27a\">Unrecognised deferred tax liabilities<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs27b\">The aggregate<span class=\"_ _0\"></span> amount of temporary dif<span class=\"_ _2\"></span>ferences<span class=\"_ _0\"></span> associated with </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs27c\">investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> subsidiaries, branches and associates<span class=\"_ _0\"></span> and interests </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs27d\">in joint arrangements, for which de<span class=\"_ _0\"></span>ferred tax liabilities have<span class=\"_ _0\"></span> not been </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs27e\">reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>5 i<span class=\"_ _2\"></span>s \u00a3434 m<span class=\"_ _2\"></span>illio<span class=\"_ _2\"></span>n (202<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>249 mill<span class=\"_ _2\"></span>ion<span class=\"_ _314\"> </span>).</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-516": {
   "value": "Significant accounting judgement and estimates The Group is subject to taxation in the many countries in which it operates. The tax legislation of these countries differs, is often complex and can be subject to interpretation by management and government authorities. These matters of judgement sometimes give rise to the need to create provisions for tax payments that may arise in future years with respect to transactions already undertaken. Provisions are made against individual exposures and take into account the specific circumstances of each case, including the strength of technical arguments, recent case law decisions or rulings on similar issues and relevant external advice. In accordance with IFRIC 23 Uncertainty over Income Tax Treatments, provisions are estimated based on one of two methods: \u2013 The expected value method (the sum of the probability weighted amounts in a range of possible outcomes) \u2013 The single most likely amount method The method chosen depends on which is expected to better predict the resolution of the uncertainty. Due to the uncertainty associated with tax audits it is possible that, at some future date, liabilities resulting from such audits or related litigation could vary significantly from the Group\u2019s provisions. This would require the Group to make an adjustment in a subsequent period which could have a material impact on the Group\u2019s results IRS audit The Group has concluded its audit in the US by the Internal Revenue Service (IRS) in relation to the interest rate applied on certain cross- border intercompany loans from the UK to the US for the 2016-2021 period. The resolution of this matter did not have a material impact on the Group\u2019s financial position. HMRC audit of intellectual property valuation HMRC is auditing the value of certain intellectual property purchased from Thomson Reuters as part of the formation of Refinitiv. Intellectual property valuation is complex and significantly affected by multiple inputs of assumptions. As the outcome is uncertain, especially given the inherent subjectivity of the topic, the Group recognises an uncertain tax liability in accordance with the requirements of IFRS. Management and HMRC agreed in principle on the main aspects of the audit and conclusion is anticipated following required internal process by HMRC. Management believes that resolution of this matter will not have a material impact on the Group\u2019s financial position. Diverted Profits Tax to Thomson Reuters HMRC has issued notices of assessment under the Diverted Profits Tax (DPT) regime to Thomson Reuters largely related to its Financial & Risk Business for years prior to the sale of the business to Refinitiv. As required by the notices and as directed by Thomson Reuters, the Group has made payments to HMRC which were immediately reimbursed by Thomson Reuters in accordance with an indemnity agreement (described in note 13 and note 15). Thomson Reuters does not agree with the assessments. To the extent the Group receives any refunds of these payments, such refunds are remitted to Thomson Reuters in accordance with the indemnity agreement  US tax credits An uncertain tax liability has been recognised in respect of taxes in the US, where the Group has a similar fact pattern to another taxpayer who is participating in ongoing legal proceedings on the matter. Management believes that the resolution of this matter will not have a material impact on the Group\u2019s financial position. Intercompany financing arrangements The Group has received inquiries from HMRC in relation to the tax treatment of certain historical intercompany financing arrangements. Discussions are at an early stage, and it is not currently possible to determine whether HMRC will pursue its inquiries further, or to reliably quantify any potential liability that might result. The Group is of the view that its historical tax filing positions are appropriate and has determined that a future outflow of economic benefit is not probable in relation to its intercompany financing arrangements. As a result, no provision for further tax liability has been recognised. Significant accounting estimates and assumptions Net present value of pension assets and liabilities Defined benefit pension liabilities are determined based on the present value of future pension obligations using assumptions determined by the Group with advice from an independent qualified actuary. An actuarial valuation involves making various assumptions that may differ from what actually happens in the future. The assumptions that are the most significant to the amounts reported for the significant defined benefit schemes are the discount rate, the inflation rate, pension increases and mortality levels. Assumptions about these variables are based on the environment in each country. Due to the complexities involved in a valuation, and its long-term nature, a defined benefit obligation is highly sensitive to changes in these assumptions. In particular, changes to the discount rate and inflation rate could result in material changes to the carrying amounts of the Group\u2019s pension and other post-retirement benefit obligations within the next financial year. Actuarial assumptions The Group used the following weighted-average assumptions in determining the defined benefit obligation for the Large UK schemes: 2025 2024 Discount rate \u2013 Non-insured 5.50% 5.50% \u2013 Insured 5.40% 5.36% Price inflation 2.90% 3.23% Rate of increase in salaries \u2013 3.20% Life expectancy from age 65 (years) \u2013 Non-retired male member 23.1 23.9 \u2013 Non-retired female member 25.1 26.0 \u2013 Retired male member 22.6 22.3 \u2013 Retired female member 24.4 24.3 Sensitivity analysis The measurement of the Large UK schemes obligations is sensitive to changes in certain key assumptions. The sensitivity analysis below shows how a reasonably possible increase in a particular assumption would, in isolation, result in an increase or decrease in the present value of the defined benefit obligations as at 31 December 2025. (Decrease)/increase in scheme obligations1 Change in 2025 2024 Assumption assumption \u00a3m \u00a3m Discount rate +0.5% (103) (110) Price inflation +0.5% 56 60 Mortality rate +1 year 58 64 1  The sensitivity analysis may not be representative of an actual change in the scheme obligations as it is unlikely that changes in assumptions would occur in isolation of one another. The analysis is done in a similar way to calculating the scheme obligations recognised in the balance sheet in that it uses the projected unit credit method at the end of the year . ",
   "dimensions": {
    "concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-526": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>Ba<span class=\"_ _2\"></span>sic ear<span class=\"_ _2\"></span>nin<span class=\"_ _2\"></span>gs per s<span class=\"_ _2\"></span>hare is i<span class=\"_ _2\"></span>n resp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t of all a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies. D<span class=\"_ _2\"></span>ilu<span class=\"_ _2\"></span>ted earnings per share<span class=\"_ _0\"></span> takes into<span class=\"_ _0\"></span> account the dilutive effec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> that would arise on conv<span class=\"_ _0\"></span>ersion or vesting of all outst<span class=\"_ _2\"></span>anding s<span class=\"_ _0\"></span>hare options and share a<span class=\"_ _0\"></span>wards under the Group\u2019<span class=\"_ _0\"></span>s share<span class=\"_ _0\"></span> option and award<span class=\"_ _0\"></span> schemes. Adj<span class=\"_ _2\"></span>ust<span class=\"_ _2\"></span>ed bas<span class=\"_ _2\"></span>ic ear<span class=\"_ _2\"></span>ning<span class=\"_ _2\"></span>s per s<span class=\"_ _2\"></span>hare an<span class=\"_ _2\"></span>d adju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d dilu<span class=\"_ _2\"></span>ted ea<span class=\"_ _2\"></span>rni<span class=\"_ _2\"></span>ngs per share<span class=\"_ _0\"></span> exclude non-underl<span class=\"_ _2\"></span>ying items fr<span class=\"_ _0\"></span>om earnings (as described in note<span class=\"_ _0\"></span> 2 and in the<span class=\"_ _0\"></span> Al<span class=\"_ _2\"></span>ternative Performance Measures<span class=\"_ _0\"></span> sec<span class=\"_ _2\"></span>tion of t<span class=\"_ _2\"></span>his rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t)<span class=\"_ _314\"> <span class=\"_ _314\"> </span></span><div class=\"t m0 h6 ff73 fs3 fc1 sc0 ls79 wsa2 gs298\">7<span class=\"_ _25e\"></span>. Earning<span class=\"_ _2\"></span>s per share<span class=\"_ _314\"> </span></div><div class=\"t m0 h1dc ff74 fs2 fc1 sc0 ls3 ws3 gs280\">Ear<span class=\"_ _2\"></span>nings p<span class=\"_ _2\"></span>er shar<span class=\"_ _2\"></span>e is presen<span class=\"_ _2\"></span>ted on fou<span class=\"_ _2\"></span>r bases: b<span class=\"_ _2\"></span>asic ea<span class=\"_ _2\"></span>rnin<span class=\"_ _2\"></span>gs </div><div class=\"t m0 h1dc ff74 fs2 fc1 sc0 ls3 ws3 gs281\">per s<span class=\"_ _2\"></span>hare, di<span class=\"_ _2\"></span>lute<span class=\"_ _2\"></span>d earni<span class=\"_ _2\"></span>ngs pe<span class=\"_ _2\"></span>r share, a<span class=\"_ _2\"></span>djus<span class=\"_ _2\"></span>ted basi<span class=\"_ _2\"></span>c earn<span class=\"_ _2\"></span>ings p<span class=\"_ _2\"></span>er </div><div class=\"t m0 h1dc ff74 fs2 fc1 sc0 ls6 ws7 gs282\">share<span class=\"_ _0\"></span> and adjusted<span class=\"_ _0\"></span> diluted earnings<span class=\"_ _0\"></span> per share.<span class=\"_ _0\"></span> Earnings per s<span class=\"_ _0\"></span>hare </div><div class=\"t m0 h1dc ff74 fs2 fc1 sc0 ls3 ws3 gs283\">is ca<span class=\"_ _2\"></span>lcula<span class=\"_ _2\"></span>ted as t<span class=\"_ _2\"></span>he Grou<span class=\"_ _2\"></span>p<span class=\"_ _0\"></span>\u2019s pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t for the f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>ancia<span class=\"_ _2\"></span>l year d<span class=\"_ _2\"></span>ivi<span class=\"_ _2\"></span>ded by </div><div class=\"t m0 h1dc ff74 fs2 fc1 sc0 ls3 ws3 gs284\">th<span class=\"_ _2\"></span>e weighte<span class=\"_ _2\"></span>d aver<span class=\"_ _2\"></span>age num<span class=\"_ _2\"></span>ber of sha<span class=\"_ _2\"></span>res in is<span class=\"_ _2\"></span>sue duri<span class=\"_ _2\"></span>ng the y<span class=\"_ _2\"></span>ear.<span class=\"_ _314\"> </span></div><div class=\"gse3\"><table class=\"s w2f9 h250\" id=\"_0b9081d9-acb1-467e-8a91-00204fc27c36\"><tr><td></td><td class=\"c n x4c5 y21a6 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y21a6 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w43e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls7b wsb4\">Basic earnings per share<span class=\"_ _314\"> </span></div></td><td class=\"c n x743 y214c w43f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa9 ws7e\">238.4p</div></td><td class=\"c n x744 y214c w440 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">128<span class=\"_ _2\"></span>.8<span class=\"_ _2\"></span>p<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w441 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls7b wsb4\">Diluted earnings per share<span class=\"_ _314\"> </span></div></td><td class=\"c n x745 y213e w442 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls83 wsb0\">2<span class=\"_ _2\"></span>3<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>0<span class=\"_ _2\"></span>p</div></td><td class=\"c n x746 y213e w443 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">128<span class=\"_ _2\"></span>.0p<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w444 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls7b wsb4\">Adjusted basic earnings per share<span class=\"_ _314\"> </span></div></td><td class=\"c n x747 y2068 w445 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls72 ws9b\">420<span class=\"_ _2\"></span>.6p</div></td><td class=\"c n x748 y2068 w446 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">363.5p<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w447 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls7b wsb4\">Adjusted diluted earnings per share<span class=\"_ _314\"> </span></div></td><td class=\"c n x749 y2069 w448 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa3 wsce\">41<span class=\"_ _2\"></span>8.<span class=\"_ _2\"></span>2p</div></td><td class=\"c n x74a y2069 w449 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls72 ws9b\">361<span class=\"_ _2\"></span>.5<span class=\"_ _2\"></span>p<span class=\"_ _314\"> </span></div></td></tr></table></div>7<span class=\"_ _0\"></span>.<span class=\"_ _0\"></span>1 Pro<span class=\"_ _2\"></span>fit a<span class=\"_ _2\"></span>nd adju<span class=\"_ _2\"></span>sted p<span class=\"_ _2\"></span>rof<span class=\"_ _2\"></span>it for t<span class=\"_ _2\"></span>he year at<span class=\"_ _2\"></span>tri<span class=\"_ _2\"></span>buta<span class=\"_ _2\"></span>ble<span class=\"_ _314\"> </span>to the C<span class=\"_ _2\"></span>ompa<span class=\"_ _2\"></span>ny\u2019s equ<span class=\"_ _2\"></span>ity h<span class=\"_ _2\"></span>olde<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span>2025<span class=\"_ _314\"> </span>20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>Pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t for t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r at<span class=\"_ _2\"></span>tri<span class=\"_ _2\"></span>but<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e to th<span class=\"_ _2\"></span>e Com<span class=\"_ _2\"></span>pany<span class=\"_ _2\"></span>\u2019s<span class=\"_ _314\"> </span>equit<span class=\"_ _2\"></span>y holders<span class=\"_ _314\"> </span>1,<span class=\"_ _2\"></span>249<span class=\"_ _314\"> </span>685<span class=\"_ _314\"> </span>Adjustment<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">T<span class=\"_ _0\"></span>otal non-under<span class=\"_ _2\"></span>lying items<span class=\"_ _0\"></span> net of tax<span class=\"_ _314\"> </span></span>1,032<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>,336<span class=\"_ _314\"> </span>\u2013<span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-underlying items attribut<span class=\"_ _2\"></span>able<span class=\"_ _314\"> </span></span>to non-cont<span class=\"_ _2\"></span>rolling<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>(77)<span class=\"_ _314\"> </span><span class=\"ls7b wse0\">(87<span class=\"_ _314\"> </span></span>Adjusted profit for the year attributable<span class=\"_ _314\"> </span>to th<span class=\"_ _2\"></span>e Com<span class=\"_ _2\"></span>pany<span class=\"_ _2\"></span>\u2019s equit<span class=\"_ _2\"></span>y ho<span class=\"_ _2\"></span>lde<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span>2,<span class=\"_ _2\"></span>204<span class=\"_ _314\"> </span>1,934<span class=\"_ _314\"> </span>7<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>2 W<span class=\"_ _0\"></span>eighted average<span class=\"_ _0\"></span> number of shares<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span><table class=\"s w434 h24f\" id=\"_e911a0a5-2ad9-499d-936b-8860f3414b40\"><tr><td></td><td class=\"c n x4e9 y2213 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y2213 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x73c y21fd w435 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 lse5 ws125\">millions</div></td><td class=\"c n x73d y21fd w436 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls27 ws45\">millions<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2214 w437 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6d wsd4\">Weighted<span class=\"_ _0\"></span> average number of<span class=\"_ _0\"></span> shares</div><div class=\"t m0 x73e h195 y210f ff72 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x73f y2075 w438 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa2 wscd\">524<span class=\"_ _314\"> </span></div></td><td class=\"c n x740 y2075 w19b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">532<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w439 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Di<span class=\"_ _2\"></span>lut<span class=\"_ _2\"></span>ive ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>f shar<span class=\"_ _2\"></span>e opt<span class=\"_ _2\"></span>ions a<span class=\"_ _2\"></span>nd awa<span class=\"_ _2\"></span>rds<span class=\"_ _314\"> </span></div></td><td class=\"c n x741 y2068 w43a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x742 y2068 w3c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w43b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">Diluted weighted<span class=\"_ _0\"></span> average number of<span class=\"_ _0\"></span> shares<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b2 y2069 w43c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls71 ws9a\">527<span class=\"_ _314\"> </span></div></td><td class=\"c n x4e5 y2069 w43d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws96\">535<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>The weighted<span class=\"_ _0\"></span> average number of<span class=\"_ _0\"></span> shares e<span class=\"_ _0\"></span>xcludes treasury shares<span class=\"_ _0\"></span> and those held in<span class=\"_ _0\"></span> the<span class=\"_ _314\"> </span>Employee<span class=\"_ _0\"></span> Benefit T<span class=\"_ _0\"></span>rust.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>The c<span class=\"_ _2\"></span>han<span class=\"_ _2\"></span>ge in w<span class=\"_ _2\"></span>eig<span class=\"_ _2\"></span>hte<span class=\"_ _2\"></span>d aver<span class=\"_ _2\"></span>age n<span class=\"_ _2\"></span>umb<span class=\"_ _2\"></span>er of s<span class=\"_ _2\"></span>hare<span class=\"_ _2\"></span>s ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t of sha<span class=\"_ _2\"></span>re bu<span class=\"_ _2\"></span>yb<span class=\"_ _2\"></span>ack<span class=\"_ _2\"></span>s in<span class=\"_ _314\"> </span>2024 and 2<span class=\"_ _2\"></span>025. F<span class=\"_ _2\"></span>or det<span class=\"_ _2\"></span>ai<span class=\"_ _2\"></span>ls an<span class=\"_ _2\"></span>d the n<span class=\"_ _2\"></span>umb<span class=\"_ _2\"></span>er of s<span class=\"_ _2\"></span>hare<span class=\"_ _2\"></span>s as at 3<span class=\"_ _2\"></span>1 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 2025<span class=\"_ _2\"></span>, see n<span class=\"_ _2\"></span>ote 1<span class=\"_ _2\"></span>8.1<span class=\"_ _2\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-485": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>Ba<span class=\"_ _2\"></span>sic ear<span class=\"_ _2\"></span>nin<span class=\"_ _2\"></span>gs per s<span class=\"_ _2\"></span>hare is i<span class=\"_ _2\"></span>n resp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t of all a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies. D<span class=\"_ _2\"></span>ilu<span class=\"_ _2\"></span>ted earnings per share<span class=\"_ _0\"></span> takes into<span class=\"_ _0\"></span> account the dilutive effec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> that would arise on conv<span class=\"_ _0\"></span>ersion or vesting of all outst<span class=\"_ _2\"></span>anding s<span class=\"_ _0\"></span>hare options and share a<span class=\"_ _0\"></span>wards under the Group\u2019<span class=\"_ _0\"></span>s share<span class=\"_ _0\"></span> option and award<span class=\"_ _0\"></span> schemes. Adj<span class=\"_ _2\"></span>ust<span class=\"_ _2\"></span>ed bas<span class=\"_ _2\"></span>ic ear<span class=\"_ _2\"></span>ning<span class=\"_ _2\"></span>s per s<span class=\"_ _2\"></span>hare an<span class=\"_ _2\"></span>d adju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d dilu<span class=\"_ _2\"></span>ted ea<span class=\"_ _2\"></span>rni<span class=\"_ _2\"></span>ngs per share<span class=\"_ _0\"></span> exclude non-underl<span class=\"_ _2\"></span>ying items fr<span class=\"_ _0\"></span>om earnings (as described in note<span class=\"_ _0\"></span> 2 and in the<span class=\"_ _0\"></span> Al<span class=\"_ _2\"></span>ternative Performance Measures<span class=\"_ _0\"></span> sec<span class=\"_ _2\"></span>tion of t<span class=\"_ _2\"></span>his rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t)<span class=\"_ _314\"> <span class=\"_ _314\"> </span></span><span class=\"_ _2\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEarningsPerShareExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-503": {
   "value": "  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> arising on the acquisition of a<span class=\"_ _0\"></span> business is initially mea<span class=\"_ _2\"></span>sure<span class=\"_ _2\"></span>d at cos<span class=\"_ _2\"></span>t, b<span class=\"_ _2\"></span>eing t<span class=\"_ _2\"></span>he am<span class=\"_ _2\"></span>ount b<span class=\"_ _2\"></span>y whic<span class=\"_ _2\"></span>h the a<span class=\"_ _2\"></span>ggre<span class=\"_ _2\"></span>gate of<span class=\"_ _2\"></span> the consideration transferred and the amount r<span class=\"_ _0\"></span>ecognised for any non-<span class=\"_ _2\"></span>controlling inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ts (plus any pr<span class=\"_ _0\"></span>evious interest held), ex<span class=\"_ _0\"></span>ceeds the net identifiable asset<span class=\"_ _2\"></span>s acquir<span class=\"_ _0\"></span>ed and liabilities assumed.<span class=\"_ _314\"> </span>Af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r init<span class=\"_ _2\"></span>ial re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ion, g<span class=\"_ _2\"></span>ood<span class=\"_ _2\"></span>wil<span class=\"_ _2\"></span>l is mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t less a<span class=\"_ _2\"></span>ny accumulated<span class=\"_ _0\"></span> impairment losses. For the purpose of impairment testing, on the date o<span class=\"_ _0\"></span>f acquisition, goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> acquired in a<span class=\"_ _0\"></span> business com<span class=\"_ _2\"></span>bina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is all<span class=\"_ _2\"></span>ocat<span class=\"_ _2\"></span>ed to one o<span class=\"_ _2\"></span>r more o<span class=\"_ _2\"></span>f the G<span class=\"_ _2\"></span>roup\u2019s ca<span class=\"_ _2\"></span>sh<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span>gen<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g unit<span class=\"_ _2\"></span>s (CG<span class=\"_ _2\"></span>Us) t<span class=\"_ _2\"></span>hat are ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d to bene<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t fro<span class=\"_ _2\"></span>m the combination.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill ha<span class=\"_ _2\"></span>s bee<span class=\"_ _2\"></span>n allo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to a CGU an<span class=\"_ _2\"></span>d par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin t<span class=\"_ _2\"></span>hat uni<span class=\"_ _2\"></span>t is di<span class=\"_ _2\"></span>spo<span class=\"_ _2\"></span>sed of, t<span class=\"_ _2\"></span>he go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill a<span class=\"_ _2\"></span>ssoc<span class=\"_ _2\"></span>iate<span class=\"_ _2\"></span>d with the disposed operation is included in the carry<span class=\"_ _2\"></span>ing amount when determining its gain or<span class=\"_ _0\"></span> loss on disposal. Goodwill disposed in these circumstances is<span class=\"_ _0\"></span> measured based on the r<span class=\"_ _0\"></span>elative values of t<span class=\"_ _2\"></span>he dis<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion an<span class=\"_ _2\"></span>d the p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of t<span class=\"_ _2\"></span>he CGU re<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>ed.<span class=\"_ _314\"> </span>Purchased intangible assets<span class=\"_ _314\"> </span>Purchased intangible assets are initially rec<span class=\"_ _0\"></span>ognised at cost. The cost of<span class=\"_ _0\"></span> intangibl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>quired in a business<span class=\"_ _0\"></span> combination is t<span class=\"_ _2\"></span>heir f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue at t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te of acq<span class=\"_ _2\"></span>uisi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n. Th<span class=\"_ _2\"></span>is is de<span class=\"_ _2\"></span>termi<span class=\"_ _2\"></span>ned using valuation methodologies such as<span class=\"_ _0\"></span> the mult<span class=\"_ _2\"></span>i-period excess earnings method or rel<span class=\"_ _0\"></span>ief from ro<span class=\"_ _0\"></span>yalt<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Following initial recognition, intangible assets are carried at cost less an<span class=\"_ _0\"></span>y accumulated amor<span class=\"_ _2\"></span>tisation and accumulat<span class=\"_ _0\"></span>ed impairment losses<span class=\"_ _314\"> </span>These assets are amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> as follows:<span class=\"_ _314\"> </span><table class=\"s w44a h251\" id=\"_56b4d1dd-c642-4770-b2b6-c6fe48868f1c\"><tr><td></td><td></td><td class=\"t m0 x74b hb y2215 ff71 fs6 fc1 sc0 ls7a wsbe\">Amor<span class=\"_ _2\"></span>tisation </td></tr><tr><td></td><td></td><td class=\"t m0 x74c hb y2216 ff71 fs6 fc1 sc0 ls27 ws43\">period or useful </td></tr><tr><td class=\"c n x1eb y2217 w44b h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lse0 ws110\">As<span class=\"_ _2\"></span>sets<span class=\"_ _314\"> </span></div></td><td class=\"c n x74d y2217 w44c h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsf1 wscc\">Amortisation<span class=\"_ _0\"></span> metho<span class=\"_ _0\"></span>d<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x74e hb y2218 ff71 fs6 fc1 sc0 ls27 ws43\">economic life<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x41d h193 y2219 ff71 fs129 fc1 sc0 ls6c ws7e\">Customer and supplier </td><td class=\"c n x74f y221a w44d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x750 y221a w44e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">5 t<span class=\"_ _2\"></span>o 25 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x41d h193 y221b ff71 fs129 fc1 sc0 ls76 ws9f\">relationships<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y219d w44f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws96\">Brands<span class=\"_ _314\"> </span></div></td><td class=\"c n x751 y219d w450 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x752 y219d w451 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">4 to 25 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w452 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Databases and c<span class=\"_ _0\"></span>ontent<span class=\"_ _314\"> </span></div></td><td class=\"c n x753 y219e w453 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">St<span class=\"_ _2\"></span>raight-line basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x754 y219e w454 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">5 t<span class=\"_ _2\"></span>o 12 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y221c w455 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls39 ws0\">Sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware<span class=\"_ _314\"> </span></div></td><td class=\"c n x755 y221c w456 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Straight-line basis or<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x756 h193 y221d ff71 fs129 fc1 sc0 ls6a ws3\">7 to 15 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x757 h193 y221e ff71 fs129 fc1 sc0 ls6c ws7e\">reducing balanc<span class=\"_ _0\"></span>e basis<span class=\"_ _314\"> </span></td><td></td></tr><tr><td class=\"c x1eb y2069 w457 h222\"><div class=\"t m0 x1e4 h193 y20d1 ff71 fs129 fc1 sc0 ls6c ws7e\">Licences<span class=\"_ _0\"></span> and<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">intellectual proper<span class=\"_ _2\"></span>ty<span class=\"_ _314\"> </span></div></td><td class=\"c n x74f y221f w44d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x758 y221f w458 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">3 to 25 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td></tr></table>Sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware, co<span class=\"_ _2\"></span>ntra<span class=\"_ _2\"></span>ct cos<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>nd othe<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>Sof<span class=\"_ _2\"></span>tware, contract cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> other comprises internally developed sof<span class=\"_ _2\"></span>tware, soft<span class=\"_ _2\"></span>ware<span class=\"_ _0\"></span> purchased from third parties, the SwapClear intangible asset and contract cost<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Sof<span class=\"_ _2\"></span>tware and other<span class=\"_ _314\"> </span>Exp<span class=\"_ _2\"></span>enditure<span class=\"_ _0\"></span> on internal product development, including expenditure relat<span class=\"_ _0\"></span>ed to cloud c<span class=\"_ _0\"></span>omput<span class=\"_ _2\"></span>ing arrangements, is capitalised if: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The costs can be reliably measur<span class=\"_ _0\"></span>ed</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The product or process is<span class=\"_ _0\"></span> technically and commercially<span class=\"_ _0\"></span> feasible</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Future economic<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its are probable</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The Group has<span class=\"_ _0\"></span> suf<span class=\"_ _2\"></span>ficient resources t<span class=\"_ _0\"></span>o complete the </span>development and t<span class=\"_ _0\"></span>o use or sell<span class=\"_ _0\"></span> the asset<span class=\"_ _314\"> </span>In<span class=\"_ _2\"></span>terna<span class=\"_ _2\"></span>lly d<span class=\"_ _2\"></span>evelo<span class=\"_ _2\"></span>ped s<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware is i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y reco<span class=\"_ _2\"></span>rded a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t, w<span class=\"_ _2\"></span>hich includes labour<span class=\"_ _0\"></span>, directly at<span class=\"_ _2\"></span>tributable cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> any third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y expenses. Following initial recognition, the asset is carried at<span class=\"_ _0\"></span> cost less any acc<span class=\"_ _0\"></span>umulated amor<span class=\"_ _2\"></span>tisation and accumulat<span class=\"_ _0\"></span>ed impairment losses. Amor<span class=\"_ _2\"></span>tisation of the asset begins when de<span class=\"_ _0\"></span>velopment is com<span class=\"_ _2\"></span>plete<span class=\"_ _2\"></span>, and t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et is av<span class=\"_ _2\"></span>aila<span class=\"_ _2\"></span>ble for u<span class=\"_ _2\"></span>se. Th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>ets a<span class=\"_ _2\"></span>re the<span class=\"_ _2\"></span>n amor<span class=\"_ _2\"></span>tised on a<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>traight-line basis over<span class=\"_ _0\"></span> their useful economic lives of t<span class=\"_ _2\"></span>hree to 12 y<span class=\"_ _2\"></span>ears<span class=\"_ _314\"> </span>The cost of<span class=\"_ _0\"></span> internally developed soft<span class=\"_ _2\"></span>ware acquir<span class=\"_ _0\"></span>ed in a business com<span class=\"_ _2\"></span>bina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is it<span class=\"_ _2\"></span>s fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e at th<span class=\"_ _2\"></span>e date of a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>. This m<span class=\"_ _2\"></span>ay include an incr<span class=\"_ _0\"></span>emental fair value adjustment to align the carry<span class=\"_ _2\"></span>ing val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>wa<span class=\"_ _2\"></span>re wit<span class=\"_ _2\"></span>h it<span class=\"_ _2\"></span>s fa<span class=\"_ _2\"></span>ir val<span class=\"_ _2\"></span>ue.<span class=\"_ _314\"> </span>Where variable payments, that are dependent on<span class=\"_ _0\"></span> our future ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, are to b<span class=\"_ _2\"></span>e made to t<span class=\"_ _2\"></span>hir<span class=\"_ _2\"></span>d par<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es for t<span class=\"_ _2\"></span>he dev<span class=\"_ _2\"></span>elop<span class=\"_ _2\"></span>ment o<span class=\"_ _2\"></span>f sof<span class=\"_ _2\"></span>tware, these ar<span class=\"_ _0\"></span>e excluded<span class=\"_ _0\"></span> from the initial measurement of<span class=\"_ _0\"></span> the asset. Ins<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>ad, the Group recognises the variable pa<span class=\"_ _0\"></span>ymen<span class=\"_ _2\"></span>ts as an expense when inc<span class=\"_ _0\"></span>urred.<span class=\"_ _314\"> </span>Sof<span class=\"_ _2\"></span>tware purchased fr<span class=\"_ _0\"></span>om third par<span class=\"_ _2\"></span>ties and<span class=\"_ _0\"></span> sof<span class=\"_ _2\"></span>tware licence cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> for the development and<span class=\"_ _0\"></span> implementat<span class=\"_ _2\"></span>ion o<span class=\"_ _0\"></span>f sys<span class=\"_ _2\"></span>tems<span class=\"_ _0\"></span> which enhance the services provided by the Group<span class=\"_ _0\"></span>, are r<span class=\"_ _0\"></span>ecognised at cost and amort<span class=\"_ _2\"></span>ised on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line basis<span class=\"_ _0\"></span> over their estimated useful economic lives<span class=\"_ _0\"></span> of three to<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>ive years. The<span class=\"_ _0\"></span> SwapClear int<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>ible a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed at co<span class=\"_ _2\"></span>st an<span class=\"_ _2\"></span>d amo<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d on a str<span class=\"_ _2\"></span>aight-line basis o<span class=\"_ _0\"></span>ver its es<span class=\"_ _2\"></span>timated<span class=\"_ _0\"></span> useful economic life of 1<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Contract costs<span class=\"_ _314\"> </span>Incremental costs of obtaining a c<span class=\"_ _0\"></span>us<span class=\"_ _2\"></span>tomer<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>t, such as sales commissions paid t<span class=\"_ _0\"></span>o employees, are<span class=\"_ _0\"></span> recognised as an intangible as<span class=\"_ _2\"></span>set if t<span class=\"_ _2\"></span>he be<span class=\"_ _2\"></span>nef<span class=\"_ _2\"></span>it of s<span class=\"_ _2\"></span>uch cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s is exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted to b<span class=\"_ _2\"></span>e long<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>an one<span class=\"_ _2\"></span> yea<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. The a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t is ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t and is a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ised o<span class=\"_ _2\"></span>ver the period that a customer benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> from the associated soft<span class=\"_ _2\"></span>ware technology suppor<span class=\"_ _2\"></span>ting the underlying product or ser<span class=\"_ _2\"></span>vice. The<span class=\"_ _0\"></span> Gro<span class=\"_ _2\"></span>up has e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imat<span class=\"_ _2\"></span>ed th<span class=\"_ _2\"></span>is to be b<span class=\"_ _2\"></span>etw<span class=\"_ _2\"></span>een t<span class=\"_ _2\"></span>hree a<span class=\"_ _2\"></span>nd f<span class=\"_ _2\"></span>ive ye<span class=\"_ _2\"></span>ars<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>ecognises the incremental cost of<span class=\"_ _0\"></span> obtaining a contrac<span class=\"_ _2\"></span>t as an e<span class=\"_ _0\"></span>xpense when incurred, if the amort<span class=\"_ _2\"></span>isation period is less than one year<span class=\"_ _3\"></span>.<span class=\"_ _314\"> </span>Impairment of intangible assets, including goodwill<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> is tested for<span class=\"_ _0\"></span> impairment annually.<span class=\"_ _0\"></span> Any goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span> impairment is determined<span class=\"_ _0\"></span> by assessing the recov<span class=\"_ _0\"></span>erable amount of<span class=\"_ _314\"> </span> eac<span class=\"_ _2\"></span>h CGU. W<span class=\"_ _2\"></span>hen t<span class=\"_ _2\"></span>he reco<span class=\"_ _2\"></span>vera<span class=\"_ _2\"></span>ble am<span class=\"_ _2\"></span>ount o<span class=\"_ _2\"></span>f the CG<span class=\"_ _2\"></span>U is le<span class=\"_ _2\"></span>ss t<span class=\"_ _2\"></span>han<span class=\"_ _314\"> </span> it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> an impairment loss is rec<span class=\"_ _0\"></span>ognised<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Impairmen<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span> losses relating t<span class=\"_ _0\"></span>o goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> cannot be reversed in<span class=\"_ _0\"></span> future periods.<span class=\"_ _314\"> </span>Intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are assessed for any<span class=\"_ _0\"></span> indicators of impairment at<span class=\"_ _314\"> </span> each balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> If any indication exist<span class=\"_ _2\"></span>s, or<span class=\"_ _0\"></span> when annual<span class=\"_ _314\"> </span> impairment testing for an<span class=\"_ _0\"></span> asset is required, the<span class=\"_ _0\"></span> Group est<span class=\"_ _2\"></span>imat<span class=\"_ _0\"></span>es<span class=\"_ _314\"> </span> the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. Where it is not<span class=\"_ _0\"></span> possible to<span class=\"_ _314\"> </span> estimate the recoverable amount<span class=\"_ _0\"></span> of an individual asset, the<span class=\"_ _314\"> </span> Group estimates the reco<span class=\"_ _0\"></span>verable amount of the CGU<span class=\"_ _0\"></span> to which<span class=\"_ _314\"> </span> the asset belongs.<span class=\"_ _314\"> </span>An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount<span class=\"_ _314\"> </span> of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span> losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>,<span class=\"_ _314\"> </span> amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated<span class=\"_ _314\"> </span> f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span> CGU and then t<span class=\"_ _0\"></span>o reduce the carry<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> the other assets<span class=\"_ _314\"> </span> in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Useful ec<span class=\"_ _0\"></span>onomic life and<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tisation<span class=\"_ _0\"></span> method<span class=\"_ _314\"> </span>The useful economic<span class=\"_ _0\"></span> life and amorti<span class=\"_ _2\"></span>sation method of<span class=\"_ _0\"></span> intangible as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are rev<span class=\"_ _2\"></span>iewe<span class=\"_ _2\"></span>d at eac<span class=\"_ _2\"></span>h balan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et date. I<span class=\"_ _2\"></span>f th<span class=\"_ _2\"></span>ere has b<span class=\"_ _2\"></span>een a cha<span class=\"_ _2\"></span>nge in t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted u<span class=\"_ _2\"></span>sefu<span class=\"_ _2\"></span>l econ<span class=\"_ _2\"></span>omic l<span class=\"_ _2\"></span>ife or t<span class=\"_ _2\"></span>he exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted pat<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>rn of co<span class=\"_ _2\"></span>nsump<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of fu<span class=\"_ _2\"></span>ture e<span class=\"_ _2\"></span>conom<span class=\"_ _2\"></span>ic be<span class=\"_ _2\"></span>nef<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s emb<span class=\"_ _2\"></span>odie<span class=\"_ _2\"></span>d by an a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>, t<span class=\"_ _2\"></span>hen th<span class=\"_ _2\"></span>e usef<span class=\"_ _2\"></span>ul eco<span class=\"_ _2\"></span>nom<span class=\"_ _2\"></span>ic life o<span class=\"_ _2\"></span>r amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>isa<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n met<span class=\"_ _2\"></span>hod is changed<span class=\"_ _0\"></span> accordingly<span class=\"_ _314\"> </span>The Group considers the f<span class=\"_ _0\"></span>ollowing indicators, as a minimum, th<span class=\"_ _2\"></span>at may sh<span class=\"_ _2\"></span>ow th<span class=\"_ _2\"></span>at th<span class=\"_ _2\"></span>e usef<span class=\"_ _2\"></span>ul eco<span class=\"_ _2\"></span>nomi<span class=\"_ _2\"></span>c life or a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>isat<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span> met<span class=\"_ _2\"></span>hod o<span class=\"_ _2\"></span>f an ass<span class=\"_ _2\"></span>et may re<span class=\"_ _2\"></span>quire a c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether there have<span class=\"_ _0\"></span> been any changes to<span class=\"_ _0\"></span> legal, regulatory </span>or contractual pro<span class=\"_ _0\"></span>visions. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether there has been an<span class=\"_ _0\"></span>y experience in r<span class=\"_ _0\"></span>enewing or </span>extending related lic<span class=\"_ _0\"></span>ensing agreements. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether the effec<span class=\"_ _2\"></span>ts of obsolescence<span class=\"_ _0\"></span>, demand, competition </span>or maintenanc<span class=\"_ _0\"></span>e may impact the life of<span class=\"_ _0\"></span> the asset. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The expected future per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance of the business r<span class=\"_ _0\"></span>elated </span>to th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">For purchased customer and<span class=\"_ _0\"></span> supplier relationship assets, </span>th<span class=\"_ _2\"></span>e at<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>iti<span class=\"_ _2\"></span>on rat<span class=\"_ _2\"></span>e of cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>rs ve<span class=\"_ _2\"></span>rsu<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d at<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ion ra<span class=\"_ _2\"></span>tes set o<span class=\"_ _2\"></span>ut at a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-487": {
   "value": "<div class=\"t m0 h15 ff73 fs2 fc1 sc0 ls7 ws66 gs29a\">Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs29b\">Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> arising on the acquisition of a<span class=\"_ _0\"></span> business is initially </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs29c\">mea<span class=\"_ _2\"></span>sure<span class=\"_ _2\"></span>d at cos<span class=\"_ _2\"></span>t, b<span class=\"_ _2\"></span>eing t<span class=\"_ _2\"></span>he am<span class=\"_ _2\"></span>ount b<span class=\"_ _2\"></span>y whic<span class=\"_ _2\"></span>h the a<span class=\"_ _2\"></span>ggre<span class=\"_ _2\"></span>gate of<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs29d\">the consideration transferred and the amount r<span class=\"_ _0\"></span>ecognised for any </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs29e\">non-<span class=\"_ _2\"></span>controlling inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ts (plus any pr<span class=\"_ _0\"></span>evious interest held), ex<span class=\"_ _0\"></span>ceeds </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs29f\">the net identifiable asset<span class=\"_ _2\"></span>s acquir<span class=\"_ _0\"></span>ed and liabilities assumed.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2a0\">Af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r init<span class=\"_ _2\"></span>ial re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ion, g<span class=\"_ _2\"></span>ood<span class=\"_ _2\"></span>wil<span class=\"_ _2\"></span>l is mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t less a<span class=\"_ _2\"></span>ny </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2a1\">accumulated<span class=\"_ _0\"></span> impairment losses. For the purpose of impairment </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2a2\">testing, on the date o<span class=\"_ _0\"></span>f acquisition, goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> acquired in a<span class=\"_ _0\"></span> business </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2a3\">com<span class=\"_ _2\"></span>bina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is all<span class=\"_ _2\"></span>ocat<span class=\"_ _2\"></span>ed to one o<span class=\"_ _2\"></span>r more o<span class=\"_ _2\"></span>f the G<span class=\"_ _2\"></span>roup\u2019s ca<span class=\"_ _2\"></span>sh<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2a4\">gen<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g unit<span class=\"_ _2\"></span>s (CG<span class=\"_ _2\"></span>Us) t<span class=\"_ _2\"></span>hat are ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d to bene<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t fro<span class=\"_ _2\"></span>m </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls7 wsa gs2a5\">the combination.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2a6\">Wh<span class=\"_ _2\"></span>ere go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill ha<span class=\"_ _2\"></span>s bee<span class=\"_ _2\"></span>n allo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to a CGU an<span class=\"_ _2\"></span>d par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2a7\">op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin t<span class=\"_ _2\"></span>hat uni<span class=\"_ _2\"></span>t is di<span class=\"_ _2\"></span>spo<span class=\"_ _2\"></span>sed of, t<span class=\"_ _2\"></span>he go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill a<span class=\"_ _2\"></span>ssoc<span class=\"_ _2\"></span>iate<span class=\"_ _2\"></span>d </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2a8\">with the disposed operation is included in the carry<span class=\"_ _2\"></span>ing amount </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2a9\">when determining its gain or<span class=\"_ _0\"></span> loss on disposal. Goodwill disposed </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2aa\">in these circumstances is<span class=\"_ _0\"></span> measured based on the r<span class=\"_ _0\"></span>elative values </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2ab\">of t<span class=\"_ _2\"></span>he dis<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion an<span class=\"_ _2\"></span>d the p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of t<span class=\"_ _2\"></span>he CGU re<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>ed.<span class=\"_ _314\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-560": {
   "value": "Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> arising on the acquisition of a<span class=\"_ _0\"></span> business is initially mea<span class=\"_ _2\"></span>sure<span class=\"_ _2\"></span>d at cos<span class=\"_ _2\"></span>t, b<span class=\"_ _2\"></span>eing t<span class=\"_ _2\"></span>he am<span class=\"_ _2\"></span>ount b<span class=\"_ _2\"></span>y whic<span class=\"_ _2\"></span>h the a<span class=\"_ _2\"></span>ggre<span class=\"_ _2\"></span>gate of<span class=\"_ _2\"></span> the consideration transferred and the amount r<span class=\"_ _0\"></span>ecognised for any non-<span class=\"_ _2\"></span>controlling inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ts (plus any pr<span class=\"_ _0\"></span>evious interest held), ex<span class=\"_ _0\"></span>ceeds the net identifiable asset<span class=\"_ _2\"></span>s acquir<span class=\"_ _0\"></span>ed and liabilities assumed.<span class=\"_ _314\"> </span>Af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r init<span class=\"_ _2\"></span>ial re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ion, g<span class=\"_ _2\"></span>ood<span class=\"_ _2\"></span>wil<span class=\"_ _2\"></span>l is mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t less a<span class=\"_ _2\"></span>ny accumulated<span class=\"_ _0\"></span> impairment losses. For the purpose of impairment testing, on the date o<span class=\"_ _0\"></span>f acquisition, goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> acquired in a<span class=\"_ _0\"></span> business com<span class=\"_ _2\"></span>bina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is all<span class=\"_ _2\"></span>ocat<span class=\"_ _2\"></span>ed to one o<span class=\"_ _2\"></span>r more o<span class=\"_ _2\"></span>f the G<span class=\"_ _2\"></span>roup\u2019s ca<span class=\"_ _2\"></span>sh<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span>gen<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g unit<span class=\"_ _2\"></span>s (CG<span class=\"_ _2\"></span>Us) t<span class=\"_ _2\"></span>hat are ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d to bene<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t fro<span class=\"_ _2\"></span>m the combination.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill ha<span class=\"_ _2\"></span>s bee<span class=\"_ _2\"></span>n allo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to a CGU an<span class=\"_ _2\"></span>d par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin t<span class=\"_ _2\"></span>hat uni<span class=\"_ _2\"></span>t is di<span class=\"_ _2\"></span>spo<span class=\"_ _2\"></span>sed of, t<span class=\"_ _2\"></span>he go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill a<span class=\"_ _2\"></span>ssoc<span class=\"_ _2\"></span>iate<span class=\"_ _2\"></span>d with the disposed operation is included in the carry<span class=\"_ _2\"></span>ing amount when determining its gain or<span class=\"_ _0\"></span> loss on disposal. Goodwill disposed in these circumstances is<span class=\"_ _0\"></span> measured based on the r<span class=\"_ _0\"></span>elative values of t<span class=\"_ _2\"></span>he dis<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion an<span class=\"_ _2\"></span>d the p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of t<span class=\"_ _2\"></span>he CGU re<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>ed.<span class=\"_ _314\"> </span><table class=\"s w460 h253\" id=\"_ba6dde85-5dd0-47ea-8ea7-1c2ae354e645\"><tr><td></td><td></td><td></td><td></td><td class=\"t m2 x767 h13 y2223 ff72 fs6 fc1 sc0 lse5 ws75\">Purchased intangible assets<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m2 x768 h13 y2224 ff72 fs6 fc1 sc0 ls110 ws183\">Soft<span class=\"_ _2\"></span>ware, </td><td class=\"t m2 x6cf h13 y2224 ff72 fs6 fc1 sc0 ls110 ws183\">Soft<span class=\"_ _2\"></span>ware, </td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x769 h13 y2225 ff72 fs6 fc1 sc0 ls27 ws43\">Customer and<span class=\"_ _0\"></span> </td><td></td><td></td><td class=\"t m2 x76a h13 y2225 ff72 fs6 fc1 sc0 ls94 ws125\">licen<span class=\"_ _2\"></span>ces and </td><td class=\"t m2 x76b h13 y2225 ff72 fs6 fc1 sc0 ls12 ws81\">contract </td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x76c h13 y2226 ff72 fs6 fc1 sc0 lse5 ws125\">supplier </td><td></td><td class=\"t m2 x76d h13 y2226 ff72 fs6 fc1 sc0 ls12 ws81\">Databases </td><td class=\"t m2 x25d h13 y2226 ff72 fs6 fc1 sc0 lse5 ws125\">intellectual </td><td class=\"t m2 x6cf h13 y2226 ff72 fs6 fc1 sc0 ls26 ws3\">cos<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>nd </td><td></td></tr><tr><td></td><td class=\"t m2 x76e h13 y2227 ff72 fs6 fc1 sc0 ls77 wsa0\">Goodwill<span class=\"_ _314\"> </span></td><td class=\"c n x76f y2228 w461 h21b\"><div class=\"t m2 x1e4 h13 y20af ff72 fs6 fc1 sc0 lse5 ws125\">relationships<span class=\"_ _314\"> </span></div></td><td class=\"c n x770 y2228 w462 h21b\"><div class=\"t m2 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls110 ws183\">B<span class=\"_ _2\"></span>rands<span class=\"_ _314\"> </span></div></td><td class=\"t m2 x771 h13 y2227 ff72 fs6 fc1 sc0 ls27 ws43\">and cont<span class=\"_ _0\"></span>ent<span class=\"_ _314\"> </span></td><td class=\"t m2 x772 h13 y2227 ff72 fs6 fc1 sc0 ls27 ws45\">propert<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></td><td class=\"c n x759 y2228 w463 h21b\"><div class=\"t m2 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls12 ws81\">other<span class=\"_ _314\"> </span></div></td><td class=\"c n x773 y2228 w464 h21b\"><div class=\"t m2 x1e4 h13 y20af ff72 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x47b y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x774 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x775 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x776 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x777 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x778 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x779 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h187 y222a ff72 fs129 fc1 sc0 ls6d ws97\">Cost<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y222b w12c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x77a y222b w465 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls72 ws9b\">19<span class=\"_ _2\"></span>,276<span class=\"_ _314\"> </span></div></td><td class=\"c n x77b y222b w466 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">9,66<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x77c y222b w467 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">1,998<span class=\"_ _314\"> </span></div></td><td class=\"c n x77d y222b w468 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">2,5<span class=\"_ _0\"></span>80<span class=\"_ _314\"> </span></div></td><td class=\"c n x77e y222b w469 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">857<span class=\"_ _314\"> </span></div></td><td class=\"c n x77f y222b w46a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">4,860<span class=\"_ _314\"> </span></div></td><td class=\"c n x780 y222b w46b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">39,<span class=\"_ _2\"></span>239<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y222c w46c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Intangible assets acquired<span class=\"_ _0\"></span> on acquisition of<span class=\"_ _0\"></span> subsidiaries<span class=\"_ _314\"> </span></div></td><td class=\"c n x781 y222c w46d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7e wsaa\">258<span class=\"_ _314\"> </span></div></td><td class=\"c n x782 y222c w46e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">3<span class=\"_ _2\"></span>07<span class=\"_ _314\"> </span></div></td><td class=\"c n x783 y222c w3c1 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x516 y222c w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x784 y222c w46f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">146<span class=\"_ _314\"> </span></div></td><td class=\"c n x785 y222c w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x786 y222c w392 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">714<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y222d w470 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Additions<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ff y222d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x787 y222d w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x788 y222d w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x789 y222d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x78a y222d w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x3b1 y222d w471 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">93<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n x78b y222d w472 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">934<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y222e w473 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposal of<span class=\"_ _0\"></span> business<span class=\"_ _314\"> </span></div></td><td class=\"c n x78c y222e w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x78d y222e w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x78e y222e w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x78f y222e w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x790 y222e w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x791 y222e w474 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsac wsd7\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x792 y222e w407 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsac wsd7\">(<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y222f w475 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td class=\"c n x793 y222f w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x794 y222f w476 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls70 ws76\">(10)<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y222f w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y222f w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y222f w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x795 y222f w477 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">(<span class=\"_ _2\"></span>429)<span class=\"_ _314\"> </span></div></td><td class=\"c n x796 y222f w478 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>39)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2230 w1fa h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x797 y2230 w479 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">164<span class=\"_ _314\"> </span></div></td><td class=\"c n x798 y2230 w47a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls70 ws76\">172<span class=\"_ _314\"> </span></div></td><td class=\"c n x799 y2230 w19d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">33<span class=\"_ _314\"> </span></div></td><td class=\"c n x79a y2230 w47b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _314\"> </span></div></td><td class=\"c n x79b y2230 w210 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x79c y2230 w47c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa9 ws7e\">(31)<span class=\"_ _314\"> </span></div></td><td class=\"c n x79d y2230 w400 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">399<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2231 w15d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x79e y2231 w47d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6f ws99\">19,69<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x79f y2231 w47e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>37<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a0 y2231 w47f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">2,034<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a1 y2231 w480 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls61 ws86\">2,629<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a2 y2231 w481 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6f ws99\">1,015<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a3 y2231 w482 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">5,<span class=\"_ _2\"></span>331<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a4 y2231 w483 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">40,8<span class=\"_ _2\"></span>44<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2232 w484 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Additions</div><div class=\"t m2 x7a5 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2233 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2233 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2233 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2233 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2233 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ab y2233 w485 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">863<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ac y2233 w485 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">863<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2234 w486 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Additions to<span class=\"_ _0\"></span> SwapClear intangible asset</div><div class=\"t m2 x7ad h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2235 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2235 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2235 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2235 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2235 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ae y2235 w487 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>71<span class=\"_ _314\"> </span></div></td><td class=\"c n x7af y2235 w487 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,17<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2236 w488 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other</div><div class=\"t m2 x7b0 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2237 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2237 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2237 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2237 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2237 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b1 y2237 w489 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">(116)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b2 y2237 w48a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>16)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2238 w1fa h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2238 w48b h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">(980)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b3 y2238 w48c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d ws97\">(679)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b4 y2238 w48d h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(128<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b5 y2238 w167 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(188)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b6 y2238 w48e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>5)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b7 y2238 w48f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(<span class=\"_ _2\"></span>73)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b8 y2238 w490 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(2,093)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2239 w186 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b9 y2239 w491 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls8 ws5\">18,7<span class=\"_ _0\"></span>18<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ba y2239 w492 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>458<span class=\"_ _314\"> </span></div></td><td class=\"c n x7bb y2239 w493 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa8 wsd5\">1<span class=\"_ _2\"></span>,906<span class=\"_ _314\"> </span></div></td><td class=\"c n x7bc y2239 w494 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa3 wsce\">2,<span class=\"_ _2\"></span>441<span class=\"_ _314\"> </span></div></td><td class=\"c n x7bd y2239 w495 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6a ws1\">9<span class=\"_ _2\"></span>70<span class=\"_ _314\"> </span></div></td><td class=\"c n x7be y2239 w496 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x7bf y2239 w497 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls67 ws61\">4<span class=\"_ _2\"></span>0,669<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h187 y223a ff72 fs129 fc1 sc0 ls6d wsd4\">Accumulated<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tisation and<span class=\"_ _0\"></span> impairment<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y223b w12c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c0 y223b w13c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">30<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c1 y223b w498 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">2,1<span class=\"_ _2\"></span>66<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c2 y223b w43c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6f ws99\">693<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c3 y223b w499 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">687<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c4 y223b w18f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c5 y223b w49a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">2,1<span class=\"_ _2\"></span>43<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c6 y223b w49b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">6<span class=\"_ _2\"></span>,092<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y223c w49c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Amor<span class=\"_ _2\"></span>tisation<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c7 y223c w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c8 y223c w49d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb0 wsdb\">607<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c9 y223c w3c5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6e ws98\">145<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ca y223c w49e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">223<span class=\"_ _314\"> </span></div></td><td class=\"c n x7cb y223c w49f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsea ws113\">73<span class=\"_ _314\"> </span></div></td><td class=\"c n x7cc y223c w4a0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">903<span class=\"_ _314\"> </span></div></td><td class=\"c n x7cd y223c w4a1 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,9<span class=\"_ _2\"></span>51<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y223d w4a2 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Impairment<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ce y223d w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7cf y223d w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d0 y223d w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d1 y223d w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d2 y223d w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d3 y223d w4a3 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">216<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d4 y223d w4a4 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">216<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y223e w473 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposal of<span class=\"_ _0\"></span> business<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d5 y223e w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d6 y223e w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d7 y223e w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d8 y223e w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d9 y223e w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7da y223e w31d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7db y223e w31d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y223f w475 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td class=\"c n x793 y223f w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x794 y223f w476 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">(10)<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y223f w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y223f w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y223f w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7dc y223f w4a5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb9 wse9\">(<span class=\"_ _2\"></span>424<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7dd y223f w4a6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">(434)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2240 w1fa h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x7de y2240 w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7df y2240 w340 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsba wsea\">40<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e0 y2240 wdc h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">14<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e1 y2240 wf9 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e2 y2240 w38b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e3 y2240 w2b8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">(23)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e4 y2240 w4a7 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2241 w15d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e5 y2241 w13c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">30<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e6 y2241 w4a8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,8<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e7 y2241 wec h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws1\">8<span class=\"_ _2\"></span>52<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e8 y2241 w4a9 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">927<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e9 y2241 w18e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb8 wse8\">4<span class=\"_ _2\"></span>48<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ea y2241 w60 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>814<span class=\"_ _314\"> </span></div></td><td class=\"c n x7eb y2241 w4aa h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2243 w4ab h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Amor<span class=\"_ _2\"></span>tisation</div><div class=\"t m2 x7ec h194 y2242 ff71 fs12a fc1 sc0 ls113 ws188\">2,4<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2244 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ed y2244 w4ac h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">601<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ee y2244 w4ad h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ef y2244 w4ae h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">216<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f0 y2244 w4af h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls72 ws9b\">76<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f1 y2244 w427 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6f ws99\">939<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f2 y2244 w4b0 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsee ws55\">1,973<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2245 w4b1 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Impairment</div><div class=\"t m2 x7f3 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2246 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2246 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2246 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2246 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2246 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f4 y2246 w4b2 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f5 y2246 w4b2 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2247 w488 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other</div><div class=\"t m2 x7b0 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2248 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2248 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2248 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2248 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2248 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f6 y2248 w4b3 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">(112)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f7 y2248 w4b3 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">(112)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2249 w1fa h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f8 y2249 wa0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f9 y2249 w4b4 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">(1<span class=\"_ _2\"></span>82)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fa y2249 w4b5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">(5<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fb y2249 w4b6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws1\">(<span class=\"_ _2\"></span>70)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fc y2249 w3ec h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fd y2249 w4b7 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa8 wsd5\">(30)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fe y2249 w4b8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb5 wse3\">(<span class=\"_ _2\"></span>351<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y224a w186 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ff y224a w4b9 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa7 wsd3\">29<span class=\"_ _314\"> </span></div></td><td class=\"c n x800 y224a w363 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">3<span class=\"_ _2\"></span>,222<span class=\"_ _314\"> </span></div></td><td class=\"c n x801 y224a w427 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6f ws99\">939<span class=\"_ _314\"> </span></div></td><td class=\"c n x802 y224a w4ba h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsee ws55\">1,073<span class=\"_ _314\"> </span></div></td><td class=\"c n x803 y224a w4bb h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsb5 wse3\">51<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x804 y224a w4bc h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">3,<span class=\"_ _2\"></span>623<span class=\"_ _314\"> </span></div></td><td class=\"c n x805 y224a w4bd h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>39<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y224b w4be h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k valu<span class=\"_ _2\"></span>es</div><div class=\"t m2 x806 h195 y210f ff72 fs12a fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y224c w186 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x807 y224c w4bf h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>8,689<span class=\"_ _314\"> </span></div></td><td class=\"c n x808 y224c w4c0 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">6,23<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x809 y224c w4c1 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">9<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td><td class=\"c n x80a y224c w4c2 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa8 wsd5\">1,368<span class=\"_ _314\"> </span></div></td><td class=\"c n x80b y224c w224 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">460<span class=\"_ _314\"> </span></div></td><td class=\"c n x80c y224c w4c3 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsad wsdc\">3,<span class=\"_ _2\"></span>553<span class=\"_ _314\"> </span></div></td><td class=\"c n x80d y224c wb5 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsee ws55\">31,273<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w15d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x79e y2069 w4c4 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">19,668<span class=\"_ _314\"> </span></div></td><td class=\"c n x80e y2069 w4c5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>3<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n x80f y2069 w4c6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n x810 y2069 w4c7 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls82 wsaf\">1<span class=\"_ _2\"></span>,702<span class=\"_ _314\"> </span></div></td><td class=\"c n x811 y2069 w4c8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">567<span class=\"_ _314\"> </span></div></td><td class=\"c n x812 y2069 w4c9 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls73 ws9c\">2<span class=\"_ _2\"></span>,51<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x813 y2069 w4ca h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls72 ws9b\">32,<span class=\"_ _2\"></span>970<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng th<span class=\"_ _2\"></span>e yea<span class=\"_ _2\"></span>r, cons<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion f<span class=\"_ _2\"></span>or ad<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>ns com<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>se<span class=\"_ _2\"></span>d \u00a3861 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a39<span class=\"_ _2\"></span>34 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on) in c<span class=\"_ _2\"></span>ash a<span class=\"_ _2\"></span>nd \u00a3<span class=\"_ _2\"></span>2 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (2024: ni<span class=\"_ _2\"></span>l) i<span class=\"_ _2\"></span>n accr<span class=\"_ _2\"></span>ual<span class=\"_ _2\"></span>s. T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup c<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d sal<span class=\"_ _2\"></span>es co<span class=\"_ _2\"></span>mmi<span class=\"_ _2\"></span>ssi<span class=\"_ _2\"></span>ons p<span class=\"_ _2\"></span>aid to e<span class=\"_ _2\"></span>mp<span class=\"_ _2\"></span>loye<span class=\"_ _2\"></span>es (co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s) of \u00a366 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a351 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>In O<span class=\"_ _2\"></span>cto<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>red a<span class=\"_ _2\"></span>n inc<span class=\"_ _2\"></span>reas<span class=\"_ _2\"></span>ed sh<span class=\"_ _2\"></span>are i<span class=\"_ _2\"></span>n the S<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>Cle<span class=\"_ _2\"></span>ar in<span class=\"_ _2\"></span>tan<span class=\"_ _2\"></span>gib<span class=\"_ _2\"></span>le as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>, for a t<span class=\"_ _2\"></span>ota<span class=\"_ _2\"></span>l con<span class=\"_ _2\"></span>sid<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of \u00a31<span class=\"_ _2\"></span>,17<span class=\"_ _2\"></span>1 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (of wh<span class=\"_ _2\"></span>ich \u00a3<span class=\"_ _2\"></span>921 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on wa<span class=\"_ _2\"></span>s pai<span class=\"_ _2\"></span>d in 2025 a<span class=\"_ _2\"></span>nd \u00a3<span class=\"_ _2\"></span>250 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on is p<span class=\"_ _2\"></span>aya<span class=\"_ _2\"></span>ble i<span class=\"_ _2\"></span>n 2026 (se<span class=\"_ _2\"></span>e not<span class=\"_ _2\"></span>e 15)<span class=\"_ _2\"></span>). Am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sat<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>n of \u00a31<span class=\"_ _2\"></span>9 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n has b<span class=\"_ _2\"></span>een c<span class=\"_ _2\"></span>harg<span class=\"_ _2\"></span>ed fo<span class=\"_ _2\"></span>r tw<span class=\"_ _2\"></span>o mon<span class=\"_ _2\"></span>ths s<span class=\"_ _2\"></span>inc<span class=\"_ _2\"></span>e ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>l reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on. S<span class=\"_ _2\"></span>ee n<span class=\"_ _2\"></span>ote 9.<span class=\"_ _2\"></span>2 for t<span class=\"_ _2\"></span>he ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k val<span class=\"_ _2\"></span>ue at 3<span class=\"_ _2\"></span>1 De<span class=\"_ _2\"></span>cem<span class=\"_ _2\"></span>ber 2025<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>3 <span class=\"_ _7\"> </span>D<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed d<span class=\"_ _2\"></span>isp<span class=\"_ _2\"></span>osa<span class=\"_ _2\"></span>ls an<span class=\"_ _2\"></span>d wr<span class=\"_ _2\"></span>ite<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>fs of a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h are n<span class=\"_ _2\"></span>o lon<span class=\"_ _2\"></span>ger i<span class=\"_ _2\"></span>n use of \u00a3<span class=\"_ _2\"></span>11<span class=\"_ _2\"></span>2 mill<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h nil n<span class=\"_ _2\"></span>et bo<span class=\"_ _2\"></span>ok va<span class=\"_ _2\"></span>lue (<span class=\"_ _2\"></span>2024: \u00a343<span class=\"_ _2\"></span>4 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n wi<span class=\"_ _2\"></span>th ni<span class=\"_ _2\"></span>l net b<span class=\"_ _2\"></span>ook v<span class=\"_ _2\"></span>alu<span class=\"_ _2\"></span>e).<span class=\"_ _314\"> </span>4 <span class=\"_ _7\"> </span>I<span class=\"_ _2\"></span>ncl<span class=\"_ _2\"></span>ude<span class=\"_ _2\"></span>s amo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tis<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on of c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s of \u00a3<span class=\"_ _2\"></span>51 mill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a349 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>5 <span class=\"_ _7\"> </span>Fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>g a revi<span class=\"_ _2\"></span>ew of s<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>tw<span class=\"_ _2\"></span>are a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>n the y<span class=\"_ _2\"></span>ear, th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d a \u00a312 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irm<span class=\"_ _2\"></span>ent c<span class=\"_ _2\"></span>har<span class=\"_ _2\"></span>ge (2024: \u00a3<span class=\"_ _2\"></span>21<span class=\"_ _2\"></span>6 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n) in re<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>n to ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s wi<span class=\"_ _2\"></span>th a re<span class=\"_ _2\"></span>cove<span class=\"_ _2\"></span>rab<span class=\"_ _2\"></span>le am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t les<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>n th<span class=\"_ _2\"></span>eir carr<span class=\"_ _2\"></span>ying value.<span class=\"_ _314\"> </span>6 <span class=\"_ _7\"> </span>At 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er 2025, s<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware<span class=\"_ _2\"></span>, con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct c<span class=\"_ _2\"></span>os<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d ot<span class=\"_ _2\"></span>her n<span class=\"_ _2\"></span>et bo<span class=\"_ _2\"></span>ok va<span class=\"_ _2\"></span>lue i<span class=\"_ _2\"></span>nclu<span class=\"_ _2\"></span>des<span class=\"_ _2\"></span>: <span class=\"_ _22e\"></span>\u2013 <span class=\"lsb\">Ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s not ye<span class=\"_ _2\"></span>t bro<span class=\"_ _2\"></span>ugh<span class=\"_ _2\"></span>t int<span class=\"_ _2\"></span>o use of \u00a3<span class=\"_ _2\"></span>57<span class=\"_ _2\"></span>3 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (2024: \u00a3<span class=\"_ _2\"></span>712 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on)<span class=\"_ _2\"></span>. No am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sat<span class=\"_ _2\"></span>ion h<span class=\"_ _2\"></span>as be<span class=\"_ _2\"></span>en ch<span class=\"_ _2\"></span>arg<span class=\"_ _2\"></span>ed on t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s and i<span class=\"_ _2\"></span>ns<span class=\"_ _2\"></span>tead t<span class=\"_ _2\"></span>hey a<span class=\"_ _2\"></span>re as<span class=\"_ _2\"></span>ses<span class=\"_ _2\"></span>sed f<span class=\"_ _2\"></span>or in<span class=\"_ _2\"></span>dic<span class=\"_ _2\"></span>ato<span class=\"_ _2\"></span>rs of i<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irm<span class=\"_ _2\"></span>ent a<span class=\"_ _2\"></span>nnu<span class=\"_ _2\"></span>all<span class=\"_ _2\"></span>y.</span> <span class=\"_ _22e\"></span>\u2013 <span class=\"lsb\">Cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct c<span class=\"_ _2\"></span>ost<span class=\"_ _2\"></span>s of \u00a3<span class=\"_ _2\"></span>93 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on (2024: \u00a3<span class=\"_ _2\"></span>80 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></span>9.<span class=\"_ _0\"></span>1 Goodwill<span class=\"_ _314\"> </span>During the year<span class=\"_ _0\"></span>, f<span class=\"_ _0\"></span>ollowing the change in reporting s<span class=\"_ _2\"></span>tructure (see not<span class=\"_ _0\"></span>e 2), the Group<span class=\"_ _0\"></span> reassessed it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> CGUs and concluded that the pr<span class=\"_ _0\"></span>eviousl<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ted: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Ca<span class=\"_ _2\"></span>pit<span class=\"_ _2\"></span>al Ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s, excl<span class=\"_ _2\"></span>udin<span class=\"_ _2\"></span>g T<span class=\"_ _0\"></span>rad<span class=\"_ _2\"></span>eweb CG<span class=\"_ _2\"></span>U shou<span class=\"_ _2\"></span>ld be re<span class=\"_ _2\"></span>orga<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d into t<span class=\"_ _2\"></span>wo ne<span class=\"_ _2\"></span>w CGUs<span class=\"_ _2\"></span>: Digi<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>l &amp; Secu<span class=\"_ _2\"></span>rit<span class=\"_ _2\"></span>ies M<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s an<span class=\"_ _2\"></span>d FX<span class=\"_ _2\"></span>; and</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Pos<span class=\"_ _2\"></span>t T<span class=\"_ _0\"></span>rad<span class=\"_ _2\"></span>e CGU sh<span class=\"_ _2\"></span>oul<span class=\"_ _2\"></span>d be reo<span class=\"_ _2\"></span>rgani<span class=\"_ _2\"></span>sed in<span class=\"_ _2\"></span>to four n<span class=\"_ _2\"></span>ew CGU<span class=\"_ _2\"></span>s: L<span class=\"_ _0\"></span>C<span class=\"_ _2\"></span>H Ltd, LCH S<span class=\"_ _2\"></span>A, P<span class=\"_ _2\"></span>ost Trade S<span class=\"_ _2\"></span>olu<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns and Re<span class=\"_ _2\"></span>gul<span class=\"_ _2\"></span>ator<span class=\"_ _2\"></span>y Rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng.<span class=\"_ _314\"> </span></span>The<span class=\"_ _2\"></span>re is no c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e to the o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r CGUs<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill i<span class=\"_ _2\"></span>s allo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to and m<span class=\"_ _2\"></span>oni<span class=\"_ _2\"></span>tored by m<span class=\"_ _2\"></span>anag<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>t at th<span class=\"_ _2\"></span>e level o<span class=\"_ _2\"></span>f the G<span class=\"_ _2\"></span>roup\u2019s CG<span class=\"_ _2\"></span>Us as s<span class=\"_ _2\"></span>et out b<span class=\"_ _2\"></span>elow<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span><table class=\"s w4d0 h255\" id=\"_acc89f6a-c9c7-4fa5-b380-85e0b173ebb0\"><tr><td></td><td></td><td></td><td class=\"t m0 x817 h13 y2258 ff72 fs6 fc1 sc0 ls26 ws3\">Ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k valu<span class=\"_ _2\"></span>e of go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x6d5 h13 y2259 ff72 fs6 fc1 sc0 lse5 ws125\">Foreign </td><td></td></tr><tr><td></td><td class=\"t m0 x818 hb y225a ff71 fs6 fc1 sc0 ls12 ws44\">1 January<span class=\"ls4 ws3\"> </span></td><td></td><td class=\"t m0 x819 h13 y225a ff72 fs6 fc1 sc0 ls27 ws45\">exchange<span class=\"_ _0\"></span> </td><td class=\"t m0 x81a h13 y225a ff72 fs6 fc1 sc0 ls27 ws43\">31 December </td></tr><tr><td></td><td class=\"t m0 x2cd hb y225b ff71 fs6 fc1 sc0 ls82 wseb\"> 2025<span class=\"_ _314\"> </span></td><td class=\"t m0 x817 h13 y225b ff72 fs6 fc1 sc0 ls27 ws45\">Reallocation<span class=\"_ _314\"> </span></td><td class=\"t m0 x2cf h13 y225b ff72 fs6 fc1 sc0 ls41 ws56\">translation<span class=\"_ _314\"> </span></td><td class=\"t m0 x81b h13 y225b ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x81c hb y225c ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 x772 h13 y225c ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 x81d h13 y225c ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 x25f h13 y225c ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y2070 w4d1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wscc\">Data<span class=\"_ _0\"></span> &amp; An<span class=\"_ _0\"></span>alytics<span class=\"_ _314\"> </span></div></td><td class=\"c n x81e y2070 w4d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsad wsdc\">6,671<span class=\"_ _314\"> </span></div></td><td class=\"c n x3ab y2070 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x81f y2070 w4d3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(285)<span class=\"_ _314\"> </span></div></td><td class=\"c n x820 y2070 w23e h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">6,<span class=\"_ _2\"></span>386<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y225d w4d4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws5\">FTSE Russell<span class=\"_ _314\"> </span></div></td><td class=\"c n x821 y225d w4d5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">5,49<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x822 y225d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x823 y225d w2f2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls21 ws8a\">(247<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x824 y225d w4d6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">5<span class=\"_ _2\"></span>,24<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2061 w4d7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Risk Intelligenc<span class=\"_ _0\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n x825 y2061 w4d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">1,660<span class=\"_ _314\"> </span></div></td><td class=\"c n x826 y2061 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x827 y2061 w222 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(53)<span class=\"_ _314\"> </span></div></td><td class=\"c n x828 y2061 w4d9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>,607<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2062 w4da h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Capital Markets, ex<span class=\"_ _0\"></span>cluding T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x829 y2062 w38b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x82a y2062 w1a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x82b y2062 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x82c y2062 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2189 w4db h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Digital &amp; Securities Markets<span class=\"_ _314\"> </span></div></td><td class=\"c n x82d y2189 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x82e y2189 w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x82f y2189 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x830 y2189 w4dc h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2072 w2b4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsbc wsed\">FX<span class=\"_ _314\"> </span></div></td><td class=\"c n x831 y2072 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x832 y2072 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x833 y2072 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x834 y2072 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2073 w4dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x835 y2073 w4de h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb9 wse9\">5<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>24<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td><td class=\"c n x836 y2073 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x837 y2073 w4df h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(<span class=\"_ _2\"></span>375)<span class=\"_ _314\"> </span></div></td><td class=\"c n x838 y2073 w4e0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls78 wse4\">4<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w4e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Post T<span class=\"_ _3\"></span>rade<span class=\"_ _314\"> </span></div></td><td class=\"c n x839 y214a w2d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">590<span class=\"_ _314\"> </span></div></td><td class=\"c n x83a y214a w4e2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls95 wsc2\">(590)<span class=\"_ _314\"> </span></div></td><td class=\"c n x83b y214a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x83c y214a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w4e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws76\">LCH Ltd<span class=\"_ _314\"> </span></div></td><td class=\"c n x83d y2066 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x83e y2066 w4e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">26<span class=\"_ _314\"> </span></div></td><td class=\"c n x83f y2066 w55 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x840 y2066 w177 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6e ws98\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w4e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaf ws17f\">LC<span class=\"_ _2\"></span>H S<span class=\"_ _2\"></span>A<span class=\"_ _314\"> </span></div></td><td class=\"c n x83d y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x83e y214c w4e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb0 wsdb\">92<span class=\"_ _314\"> </span></div></td><td class=\"c n x841 y214c w4e7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n x842 y214c w4e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa9 ws7e\">96<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2075 w4e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Post T<span class=\"_ _3\"></span>rade Solutions<span class=\"_ _314\"> </span></div></td><td class=\"c n x843 y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x844 y2075 w1fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">472<span class=\"_ _314\"> </span></div></td><td class=\"c n x845 y2075 w4ea h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>24)<span class=\"_ _314\"> </span></div></td><td class=\"c n x846 y2075 wfe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls88 wsb4\">448<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w4eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6e ws96\">Regu<span class=\"_ _2\"></span>lator<span class=\"_ _2\"></span>y Repor<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng<span class=\"_ _314\"> </span></div></td><td class=\"c n x847 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x848 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x849 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x267 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x84a y2069 w4ec h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">19,66<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x84b y2069 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x84c y2069 w48c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d ws97\">(979)<span class=\"_ _314\"> </span></div></td><td class=\"c n x84d y2069 w4ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">18,68<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr></table>Annual goodwill impairment<span class=\"_ _0\"></span> test<span class=\"_ _314\"> </span>Go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill a<span class=\"_ _2\"></span>s at 30 S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2025 was te<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d for im<span class=\"_ _2\"></span>pair<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>. Fo<span class=\"_ _2\"></span>r each C<span class=\"_ _2\"></span>GU, t<span class=\"_ _2\"></span>he es<span class=\"_ _2\"></span>tim<span class=\"_ _2\"></span>ated re<span class=\"_ _2\"></span>cover<span class=\"_ _2\"></span>able a<span class=\"_ _2\"></span>moun<span class=\"_ _2\"></span>t was h<span class=\"_ _2\"></span>ighe<span class=\"_ _2\"></span>r than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g valu<span class=\"_ _2\"></span>e (being the net book value<span class=\"_ _0\"></span>) and theref<span class=\"_ _0\"></span>ore no impairment was<span class=\"_ _0\"></span> ident<span class=\"_ _2\"></span>ified or recognised.<span class=\"_ _314\"> </span>The reco<span class=\"_ _0\"></span>verable amount of each<span class=\"_ _0\"></span> CGU was determined based<span class=\"_ _0\"></span> on value<span class=\"_ _2\"></span>-in-<span class=\"_ _2\"></span>use calculations. The value-in<span class=\"_ _2\"></span>-use calculations are based<span class=\"_ _0\"></span> on, and most sen<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ive to<span class=\"_ _2\"></span>, the fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>ing key as<span class=\"_ _2\"></span>sum<span class=\"_ _2\"></span>ptio<span class=\"_ _2\"></span>ns:<span class=\"_ _314\"> </span><table class=\"s w4cb h254\" id=\"_444297fd-1b4e-4436-8281-866f5b785789\"><tr><td class=\"c n x1eb y224d w4cc h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls41 ws56\">Assumption<span class=\"_ _314\"> </span></div></td><td class=\"c n x814 y224d w4cd h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls12 ws44\">Determination of assumption<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y224e ff71 fs129 fc1 sc0 ls6c ws7e\">Shor<span class=\"_ _2\"></span>t-<span class=\"_ _0\"></span> and medium-<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erm revenue </td><td class=\"t m0 x815 h193 y224e ff71 fs129 fc1 sc0 ls6c ws7e\">The short-term revenue<span class=\"_ _0\"></span> and cost growth assumptions are based<span class=\"_ _0\"></span> on the business plans pr<span class=\"_ _0\"></span>epared by man<span class=\"_ _0\"></span>agement </td></tr><tr><td class=\"t m0 x1e7 h193 y224f ff71 fs129 fc1 sc0 ls6a ws3\">an<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t grow<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>h<span class=\"_ _314\"> </span></td><td class=\"t m0 x815 h193 y224f ff71 fs129 fc1 sc0 ls6a ws3\">for t<span class=\"_ _2\"></span>he t<span class=\"_ _2\"></span>hree<span class=\"_ _2\"></span>-y<span class=\"_ _2\"></span>ear pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d end<span class=\"_ _2\"></span>ing 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 2028 and ex<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>nded b<span class=\"_ _2\"></span>y a fur<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>her t<span class=\"_ _2\"></span>hree y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s for tr<span class=\"_ _2\"></span>ende<span class=\"_ _2\"></span>d med<span class=\"_ _2\"></span>ium<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x815 h193 y2250 ff71 fs129 fc1 sc0 ls6c ws7e\">term gro<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>th. Business plans ar<span class=\"_ _0\"></span>e based on an<span class=\"_ _0\"></span> assessment of current<span class=\"_ _0\"></span> trends, anticipated marke<span class=\"_ _0\"></span>t and regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y </td></tr><tr><td></td><td class=\"t m0 x815 h193 y2251 ff71 fs129 fc1 sc0 ls89 wsda\">developments, discussions with customers and<span class=\"_ _0\"></span> suppliers and manage<span class=\"_ _0\"></span>ment<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>s experience<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x1e7 h193 y2252 ff71 fs129 fc1 sc0 ls89 wsda\">Long-term economic<span class=\"_ _0\"></span> grow<span class=\"_ _2\"></span>th rat<span class=\"_ _0\"></span>es </td><td class=\"t m0 x815 h193 y2252 ff71 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s beyo<span class=\"_ _2\"></span>nd an i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>ial t<span class=\"_ _2\"></span>hree<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>year p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d are ex<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>rap<span class=\"_ _2\"></span>olat<span class=\"_ _2\"></span>ed usi<span class=\"_ _2\"></span>ng a me<span class=\"_ _2\"></span>dium<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>term g<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>th r<span class=\"_ _2\"></span>ate (as d<span class=\"_ _2\"></span>isc<span class=\"_ _2\"></span>uss<span class=\"_ _2\"></span>ed </td></tr><tr><td class=\"t m0 x1e7 h193 y2253 ff71 fs129 fc1 sc0 ls6c ws7e\">(used t<span class=\"_ _0\"></span>o determine t<span class=\"_ _0\"></span>erminal values)<span class=\"_ _314\"> </span></td><td class=\"t m0 x815 h193 y2253 ff71 fs129 fc1 sc0 ls6a ws3\">ab<span class=\"_ _2\"></span>ove) for a f<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>ree ye<span class=\"_ _2\"></span>ars<span class=\"_ _2\"></span>. At wh<span class=\"_ _2\"></span>ich p<span class=\"_ _2\"></span>oint t<span class=\"_ _2\"></span>he ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s are ex<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>rap<span class=\"_ _2\"></span>olate<span class=\"_ _2\"></span>d usi<span class=\"_ _2\"></span>ng es<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>mate<span class=\"_ _2\"></span>d long<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>term g<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span> </td></tr><tr><td></td><td class=\"t m0 x815 h193 y2254 ff71 fs129 fc1 sc0 ls6a ws3\">ra<span class=\"_ _2\"></span>tes, w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h are ba<span class=\"_ _2\"></span>sed on e<span class=\"_ _2\"></span>xt<span class=\"_ _2\"></span>erna<span class=\"_ _2\"></span>l es<span class=\"_ _2\"></span>tim<span class=\"_ _2\"></span>ates of G<span class=\"_ _2\"></span>DP a<span class=\"_ _2\"></span>nd inf<span class=\"_ _2\"></span>la<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n.<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y2255 w4ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pre-t<span class=\"_ _2\"></span>ax<span class=\"_ _0\"></span> discount rates<span class=\"_ _314\"> </span></div></td><td class=\"c n x816 y2255 w4cf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Weig<span class=\"_ _2\"></span>hted a<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>age co<span class=\"_ _2\"></span>st of c<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal i<span class=\"_ _2\"></span>s dete<span class=\"_ _2\"></span>rmin<span class=\"_ _2\"></span>ed us<span class=\"_ _2\"></span>ing ma<span class=\"_ _2\"></span>rket r<span class=\"_ _2\"></span>isk-f<span class=\"_ _2\"></span>ree r<span class=\"_ _2\"></span>ates b<span class=\"_ _2\"></span>ase<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e yie<span class=\"_ _2\"></span>lds of g<span class=\"_ _2\"></span>over<span class=\"_ _2\"></span>nme<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x815 h193 y2256 ff71 fs129 fc1 sc0 ls6a ws3\">bo<span class=\"_ _2\"></span>nds m<span class=\"_ _2\"></span>ost re<span class=\"_ _2\"></span>lev<span class=\"_ _2\"></span>ant to t<span class=\"_ _2\"></span>he op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns of t<span class=\"_ _2\"></span>he CGU<span class=\"_ _2\"></span>, adju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d for co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y and op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal r<span class=\"_ _2\"></span>isk an<span class=\"_ _2\"></span>d the c<span class=\"_ _2\"></span>ost o<span class=\"_ _2\"></span>f </td></tr><tr><td></td><td class=\"t m0 x815 h193 y2257 ff71 fs129 fc1 sc0 ls6a ws3\">bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing fo<span class=\"_ _2\"></span>r the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p.<span class=\"_ _314\"> </span></td></tr></table>V<span class=\"_ _0\"></span>alue<span class=\"_ _2\"></span>-in<span class=\"_ _2\"></span>-use assumptions<span class=\"_ _314\"> </span><table class=\"s w4ee h256\" id=\"_fda7d12d-465e-4af8-9587-dbd15ed4b97d\"><tr><td></td><td></td><td class=\"c n x84e y225e w4ef h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls27 ws43\">Long-term gro<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>th rat<span class=\"_ _0\"></span>es<span class=\"_ _314\"> </span></div></td><td class=\"c n x84f y225e w4f0 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls12 ws44\">Pre-<span class=\"_ _2\"></span>tax disc<span class=\"_ _0\"></span>ount rates<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c n x850 y225f w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x851 y225f w32 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td><td class=\"c n x852 y225f w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x853 y225f w4f1 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x854 y2260 w4f2 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td><td class=\"c n x855 y2260 w4f3 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td><td class=\"c n x856 y2260 w4f2 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td><td class=\"c n x857 y2260 w4f4 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2072 w4d1 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wscc\">Data<span class=\"_ _0\"></span> &amp; An<span class=\"_ _0\"></span>alytics<span class=\"_ _314\"> </span></div></td><td class=\"c n x858 y2072 w4f5 h21c\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">4.0<span class=\"_ _314\"> </span></div></td><td class=\"c n x859 y2072 w4f6 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">4.0<span class=\"_ _314\"> </span></div></td><td class=\"c n x85a y2072 w4f7 h21c\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">11.<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x85b y2072 w4f8 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">11<span class=\"_ _2\"></span>.0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2073 w4d4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws5\">FTSE Russell<span class=\"_ _314\"> </span></div></td><td class=\"c n x85c y2073 w4f9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls96 wsc3\">3<span class=\"_ _2\"></span>.7<span class=\"_ _314\"> </span></div></td><td class=\"c n x85d y2073 w4fa h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">3.9<span class=\"_ _314\"> </span></div></td><td class=\"c n x85e y2073 w4fb h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb1 wsdd\">1<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x85f y2073 w4fc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">11<span class=\"_ _2\"></span>.8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w4d7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Risk Intelligenc<span class=\"_ _0\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n x860 y214a w4fd h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls96 wsc3\">3.7<span class=\"_ _314\"> </span></div></td><td class=\"c n x861 y214a w4fe h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">3.8<span class=\"_ _314\"> </span></div></td><td class=\"c n x862 y214a w4ff h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb1 wsdd\">1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x863 y214a w8b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">12.<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w4db h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Digital &amp; Securities Markets<span class=\"_ _314\"> </span></div></td><td class=\"c n x864 y2066 w500 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d ws97\">3<span class=\"_ _2\"></span>.4<span class=\"_ _314\"> </span></div></td><td class=\"c n x865 y2066 w501 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls58 wsb5\">3.7<span class=\"_ _314\"> </span></div></td><td class=\"c n x866 y2066 w4f5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls58 wsb5\">9.9<span class=\"_ _314\"> </span></div></td><td class=\"c n x867 y2066 w6f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">9.1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w4dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x868 y214c w502 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">3.8<span class=\"_ _314\"> </span></div></td><td class=\"c n x869 y214c w503 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">4.0<span class=\"_ _314\"> </span></div></td><td class=\"c n x86a y214c w504 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls67 ws61\">1<span class=\"_ _2\"></span>0.4<span class=\"_ _314\"> </span></div></td><td class=\"c n x86b y214c w505 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>0.7<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w4e3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws76\">LCH Ltd<span class=\"_ _314\"> </span></div></td><td class=\"c n x86c y213e w506 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d ws97\">3.4<span class=\"_ _314\"> </span></div></td><td class=\"c n x86d y213e w507 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td><td class=\"c n x86e y213e w508 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls39 ws0\">12<span class=\"_ _2\"></span>.6<span class=\"_ _314\"> </span></div></td><td class=\"c n x86f y213e w509 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N/A<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w4e5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaf ws17f\">LC<span class=\"_ _2\"></span>H S<span class=\"_ _2\"></span>A<span class=\"_ _314\"> </span></div></td><td class=\"c n x870 y2068 w502 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">3.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x871 y2068 w507 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td><td class=\"c n x872 y2068 w115 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls58 wsb5\">9.6<span class=\"_ _314\"> </span></div></td><td class=\"c n x59c y2068 w50a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w4e9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Post T<span class=\"_ _3\"></span>rade Solutions<span class=\"_ _314\"> </span></div></td><td class=\"c n x873 y2069 w50b h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">3.8<span class=\"_ _314\"> </span></div></td><td class=\"c n x874 y2069 w509 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N/A<span class=\"_ _314\"> </span></div></td><td class=\"c n x875 y2069 w50c h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">8.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x876 y2069 w50a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td></tr></table>Sensitiv<span class=\"_ _2\"></span>ity analysis<span class=\"_ _314\"> </span>The e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imat<span class=\"_ _2\"></span>ed val<span class=\"_ _2\"></span>ue<span class=\"_ _2\"></span>-in<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>use of e<span class=\"_ _2\"></span>ach CG<span class=\"_ _2\"></span>U exceed<span class=\"_ _2\"></span>s it<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yi<span class=\"_ _2\"></span>ng val<span class=\"_ _2\"></span>ue. We do no<span class=\"_ _2\"></span>t expe<span class=\"_ _2\"></span>ct t<span class=\"_ _2\"></span>hat a re<span class=\"_ _2\"></span>ason<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>y pos<span class=\"_ _2\"></span>sibl<span class=\"_ _2\"></span>e or fore<span class=\"_ _2\"></span>seea<span class=\"_ _2\"></span>ble ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n the<span class=\"_ _2\"></span> as<span class=\"_ _2\"></span>sump<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>s in is<span class=\"_ _2\"></span>olat<span class=\"_ _2\"></span>ion wo<span class=\"_ _2\"></span>uld le<span class=\"_ _2\"></span>ad to an i<span class=\"_ _2\"></span>mpai<span class=\"_ _2\"></span>rmen<span class=\"_ _2\"></span>t los<span class=\"_ _2\"></span>s bein<span class=\"_ _2\"></span>g reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for al<span class=\"_ _2\"></span>l of th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s CG<span class=\"_ _2\"></span>Us. T<span class=\"_ _2\"></span>he Pos<span class=\"_ _2\"></span>t T<span class=\"_ _0\"></span>rad<span class=\"_ _2\"></span>e Sol<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ions CG<span class=\"_ _2\"></span>U is t<span class=\"_ _2\"></span>he onl<span class=\"_ _2\"></span>y CGU s<span class=\"_ _2\"></span>ensi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve to rela<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve chan<span class=\"_ _2\"></span>ges i<span class=\"_ _2\"></span>n the ma<span class=\"_ _2\"></span>in as<span class=\"_ _2\"></span>sump<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>s (cas<span class=\"_ _2\"></span>h fl<span class=\"_ _2\"></span>ows<span class=\"_ _2\"></span>, long<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>term g<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>th r<span class=\"_ _2\"></span>ate and p<span class=\"_ _2\"></span>re<span class=\"_ _2\"></span>-ta<span class=\"_ _2\"></span>x dis<span class=\"_ _2\"></span>count r<span class=\"_ _2\"></span>ate) w<span class=\"_ _2\"></span>hich<span class=\"_ _2\"></span>, in iso<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>ion, co<span class=\"_ _2\"></span>uld lead to<span class=\"_ _0\"></span> the value<span class=\"_ _2\"></span>-in-<span class=\"_ _2\"></span>use reducing<span class=\"_ _0\"></span> below the carr<span class=\"_ _2\"></span>ying amount. These changes, in isolation, ar<span class=\"_ _0\"></span>e: 29% r<span class=\"_ _0\"></span>educ<span class=\"_ _2\"></span>tion in t<span class=\"_ _0\"></span>erminal cash flow<span class=\"_ _2\"></span>s;<span class=\"_ _0\"></span> 2.2 percentage point reduction in the long-<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erm grow<span class=\"_ _2\"></span>th rate<span class=\"_ _0\"></span>; and 2.<span class=\"_ _0\"></span>4 percentage point incr<span class=\"_ _0\"></span>ease in the pre-ta<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> discount rate. Changes<span class=\"_ _0\"></span> beyond those amounts would have l<span class=\"_ _2\"></span>ed to an i<span class=\"_ _2\"></span>mpai<span class=\"_ _2\"></span>rme<span class=\"_ _2\"></span>nt los<span class=\"_ _2\"></span>s bein<span class=\"_ _2\"></span>g reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r ende<span class=\"_ _2\"></span>d 31<span class=\"_ gsbf\"> </span>De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 2025. Th<span class=\"_ _2\"></span>is sen<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y ana<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>sis is p<span class=\"_ _2\"></span>repare<span class=\"_ _2\"></span>d on t<span class=\"_ _2\"></span>he bas<span class=\"_ _2\"></span>is tha<span class=\"_ _2\"></span>t any cha<span class=\"_ _2\"></span>nge in e<span class=\"_ _2\"></span>ach key as<span class=\"_ _2\"></span>sum<span class=\"_ _2\"></span>ptio<span class=\"_ _2\"></span>n woul<span class=\"_ _2\"></span>d not ha<span class=\"_ _2\"></span>ve a cons<span class=\"_ _2\"></span>equ<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>ial imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t on ot<span class=\"_ _2\"></span>her as<span class=\"_ _2\"></span>sum<span class=\"_ _2\"></span>ptio<span class=\"_ _2\"></span>ns us<span class=\"_ _2\"></span>ed.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-488": {
   "value": "Purchased intangible assets<span class=\"_ _314\"> </span>Purchased intangible assets are initially rec<span class=\"_ _0\"></span>ognised at cost. The cost of<span class=\"_ _0\"></span> intangibl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>quired in a business<span class=\"_ _0\"></span> combination is t<span class=\"_ _2\"></span>heir f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue at t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te of acq<span class=\"_ _2\"></span>uisi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n. Th<span class=\"_ _2\"></span>is is de<span class=\"_ _2\"></span>termi<span class=\"_ _2\"></span>ned using valuation methodologies such as<span class=\"_ _0\"></span> the mult<span class=\"_ _2\"></span>i-period excess earnings method or rel<span class=\"_ _0\"></span>ief from ro<span class=\"_ _0\"></span>yalt<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Following initial recognition, intangible assets are carried at cost less an<span class=\"_ _0\"></span>y accumulated amor<span class=\"_ _2\"></span>tisation and accumulat<span class=\"_ _0\"></span>ed impairment losses<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>These assets are amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> as follows:<span class=\"_ _314\"> </span><table class=\"s w44a h251\" id=\"_56b4d1dd-c642-4770-b2b6-c6fe48868f1c\"><tr><td></td><td></td><td class=\"t m0 x74b hb y2215 ff71 fs6 fc1 sc0 ls7a wsbe\">Amor<span class=\"_ _2\"></span>tisation </td></tr><tr><td></td><td></td><td class=\"t m0 x74c hb y2216 ff71 fs6 fc1 sc0 ls27 ws43\">period or useful </td></tr><tr><td class=\"c n x1eb y2217 w44b h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lse0 ws110\">As<span class=\"_ _2\"></span>sets<span class=\"_ _314\"> </span></div></td><td class=\"c n x74d y2217 w44c h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsf1 wscc\">Amortisation<span class=\"_ _0\"></span> metho<span class=\"_ _0\"></span>d<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x74e hb y2218 ff71 fs6 fc1 sc0 ls27 ws43\">economic life<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x41d h193 y2219 ff71 fs129 fc1 sc0 ls6c ws7e\">Customer and supplier </td><td class=\"c n x74f y221a w44d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x750 y221a w44e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">5 t<span class=\"_ _2\"></span>o 25 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x41d h193 y221b ff71 fs129 fc1 sc0 ls76 ws9f\">relationships<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y219d w44f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws96\">Brands<span class=\"_ _314\"> </span></div></td><td class=\"c n x751 y219d w450 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x752 y219d w451 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">4 to 25 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w452 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Databases and c<span class=\"_ _0\"></span>ontent<span class=\"_ _314\"> </span></div></td><td class=\"c n x753 y219e w453 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">St<span class=\"_ _2\"></span>raight-line basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x754 y219e w454 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">5 t<span class=\"_ _2\"></span>o 12 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y221c w455 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls39 ws0\">Sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware<span class=\"_ _314\"> </span></div></td><td class=\"c n x755 y221c w456 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Straight-line basis or<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x756 h193 y221d ff71 fs129 fc1 sc0 ls6a ws3\">7 to 15 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x757 h193 y221e ff71 fs129 fc1 sc0 ls6c ws7e\">reducing balanc<span class=\"_ _0\"></span>e basis<span class=\"_ _314\"> </span></td><td></td></tr><tr><td class=\"c x1eb y2069 w457 h222\"><div class=\"t m0 x1e4 h193 y20d1 ff71 fs129 fc1 sc0 ls6c ws7e\">Licences<span class=\"_ _0\"></span> and<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">intellectual proper<span class=\"_ _2\"></span>ty<span class=\"_ _314\"> </span></div></td><td class=\"c n x74f y221f w44d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x758 y221f w458 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">3 to 25 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td></tr></table>Sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware, co<span class=\"_ _2\"></span>ntra<span class=\"_ _2\"></span>ct cos<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>nd othe<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>Sof<span class=\"_ _2\"></span>tware, contract cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> other comprises internally developed sof<span class=\"_ _2\"></span>tware, soft<span class=\"_ _2\"></span>ware<span class=\"_ _0\"></span> purchased from third parties, the SwapClear intangible asset and contract cost<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Sof<span class=\"_ _2\"></span>tware and other<span class=\"_ _314\"> </span>Exp<span class=\"_ _2\"></span>enditure<span class=\"_ _0\"></span> on internal product development, including expenditure relat<span class=\"_ _0\"></span>ed to cloud c<span class=\"_ _0\"></span>omput<span class=\"_ _2\"></span>ing arrangements, is capitalised if: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The costs can be reliably measur<span class=\"_ _0\"></span>ed</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The product or process is<span class=\"_ _0\"></span> technically and commercially<span class=\"_ _0\"></span> feasible</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Future economic<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its are probable</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The Group has<span class=\"_ _0\"></span> suf<span class=\"_ _2\"></span>ficient resources t<span class=\"_ _0\"></span>o complete the </span>development and t<span class=\"_ _0\"></span>o use or sell<span class=\"_ _0\"></span> the asset<span class=\"_ _314\"> </span>In<span class=\"_ _2\"></span>terna<span class=\"_ _2\"></span>lly d<span class=\"_ _2\"></span>evelo<span class=\"_ _2\"></span>ped s<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware is i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y reco<span class=\"_ _2\"></span>rded a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t, w<span class=\"_ _2\"></span>hich includes labour<span class=\"_ _0\"></span>, directly at<span class=\"_ _2\"></span>tributable cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> any third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y expenses. Following initial recognition, the asset is carried at<span class=\"_ _0\"></span> cost less any acc<span class=\"_ _0\"></span>umulated amor<span class=\"_ _2\"></span>tisation and accumulat<span class=\"_ _0\"></span>ed impairment losses. Amor<span class=\"_ _2\"></span>tisation of the asset begins when de<span class=\"_ _0\"></span>velopment is com<span class=\"_ _2\"></span>plete<span class=\"_ _2\"></span>, and t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et is av<span class=\"_ _2\"></span>aila<span class=\"_ _2\"></span>ble for u<span class=\"_ _2\"></span>se. Th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>ets a<span class=\"_ _2\"></span>re the<span class=\"_ _2\"></span>n amor<span class=\"_ _2\"></span>tised on a<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>traight-line basis over<span class=\"_ _0\"></span> their useful economic lives of t<span class=\"_ _2\"></span>hree to 12 y<span class=\"_ _2\"></span>ears<span class=\"_ _314\"> </span>The cost of<span class=\"_ _0\"></span> internally developed soft<span class=\"_ _2\"></span>ware acquir<span class=\"_ _0\"></span>ed in a business com<span class=\"_ _2\"></span>bina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is it<span class=\"_ _2\"></span>s fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e at th<span class=\"_ _2\"></span>e date of a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>. This m<span class=\"_ _2\"></span>ay include an incr<span class=\"_ _0\"></span>emental fair value adjustment to align the carry<span class=\"_ _2\"></span>ing val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>wa<span class=\"_ _2\"></span>re wit<span class=\"_ _2\"></span>h it<span class=\"_ _2\"></span>s fa<span class=\"_ _2\"></span>ir val<span class=\"_ _2\"></span>ue.<span class=\"_ _314\"> </span>Where variable payments, that are dependent on<span class=\"_ _0\"></span> our future ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, are to b<span class=\"_ _2\"></span>e made to t<span class=\"_ _2\"></span>hir<span class=\"_ _2\"></span>d par<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es for t<span class=\"_ _2\"></span>he dev<span class=\"_ _2\"></span>elop<span class=\"_ _2\"></span>ment o<span class=\"_ _2\"></span>f sof<span class=\"_ _2\"></span>tware, these ar<span class=\"_ _0\"></span>e excluded<span class=\"_ _0\"></span> from the initial measurement of<span class=\"_ _0\"></span> the asset. Ins<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>ad, the Group recognises the variable pa<span class=\"_ _0\"></span>ymen<span class=\"_ _2\"></span>ts as an expense when inc<span class=\"_ _0\"></span>urred.<span class=\"_ _314\"> </span>Sof<span class=\"_ _2\"></span>tware purchased fr<span class=\"_ _0\"></span>om third par<span class=\"_ _2\"></span>ties and<span class=\"_ _0\"></span> sof<span class=\"_ _2\"></span>tware licence cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> for the development and<span class=\"_ _0\"></span> implementat<span class=\"_ _2\"></span>ion o<span class=\"_ _0\"></span>f sys<span class=\"_ _2\"></span>tems<span class=\"_ _0\"></span> which enhance the services provided by the Group<span class=\"_ _0\"></span>, are r<span class=\"_ _0\"></span>ecognised at cost and amort<span class=\"_ _2\"></span>ised on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line basis<span class=\"_ _0\"></span> over their estimated useful economic lives<span class=\"_ _0\"></span> of three to<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>ive years. The<span class=\"_ _0\"></span> SwapClear int<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>ible a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed at co<span class=\"_ _2\"></span>st an<span class=\"_ _2\"></span>d amo<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d on a str<span class=\"_ _2\"></span>aight-line basis o<span class=\"_ _0\"></span>ver its es<span class=\"_ _2\"></span>timated<span class=\"_ _0\"></span> useful economic life of 1<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Contract costs<span class=\"_ _314\"> </span>Incremental costs of obtaining a c<span class=\"_ _0\"></span>us<span class=\"_ _2\"></span>tomer<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>t, such as sales commissions paid t<span class=\"_ _0\"></span>o employees, are<span class=\"_ _0\"></span> recognised as an intangible as<span class=\"_ _2\"></span>set if t<span class=\"_ _2\"></span>he be<span class=\"_ _2\"></span>nef<span class=\"_ _2\"></span>it of s<span class=\"_ _2\"></span>uch cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s is exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted to b<span class=\"_ _2\"></span>e long<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>an one<span class=\"_ _2\"></span> yea<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. The a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t is ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t and is a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ised o<span class=\"_ _2\"></span>ver the period that a customer benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> from the associated soft<span class=\"_ _2\"></span>ware technology suppor<span class=\"_ _2\"></span>ting the underlying product or ser<span class=\"_ _2\"></span>vice. The<span class=\"_ _0\"></span> Gro<span class=\"_ _2\"></span>up has e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imat<span class=\"_ _2\"></span>ed th<span class=\"_ _2\"></span>is to be b<span class=\"_ _2\"></span>etw<span class=\"_ _2\"></span>een t<span class=\"_ _2\"></span>hree a<span class=\"_ _2\"></span>nd f<span class=\"_ _2\"></span>ive ye<span class=\"_ _2\"></span>ars<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>ecognises the incremental cost of<span class=\"_ _0\"></span> obtaining a contrac<span class=\"_ _2\"></span>t as an e<span class=\"_ _0\"></span>xpense when incurred, if the amort<span class=\"_ _2\"></span>isation period is less than one year<span class=\"_ _3\"></span>.<span class=\"_ _314\"> </span>Impairment of intangible assets, including goodwill<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> is tested for<span class=\"_ _0\"></span> impairment annually.<span class=\"_ _0\"></span> Any goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span> impairment is determined<span class=\"_ _0\"></span> by assessing the recov<span class=\"_ _0\"></span>erable amount of<span class=\"_ _314\"> </span> eac<span class=\"_ _2\"></span>h CGU. W<span class=\"_ _2\"></span>hen t<span class=\"_ _2\"></span>he reco<span class=\"_ _2\"></span>vera<span class=\"_ _2\"></span>ble am<span class=\"_ _2\"></span>ount o<span class=\"_ _2\"></span>f the CG<span class=\"_ _2\"></span>U is le<span class=\"_ _2\"></span>ss t<span class=\"_ _2\"></span>han<span class=\"_ _314\"> </span> it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> an impairment loss is rec<span class=\"_ _0\"></span>ognised<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Impairmen<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span> losses relating t<span class=\"_ _0\"></span>o goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> cannot be reversed in<span class=\"_ _0\"></span> future periods.<span class=\"_ _314\"> </span>Intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are assessed for any<span class=\"_ _0\"></span> indicators of impairment at<span class=\"_ _314\"> </span> each balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> If any indication exist<span class=\"_ _2\"></span>s, or<span class=\"_ _0\"></span> when annual<span class=\"_ _314\"> </span> impairment testing for an<span class=\"_ _0\"></span> asset is required, the<span class=\"_ _0\"></span> Group est<span class=\"_ _2\"></span>imat<span class=\"_ _0\"></span>es<span class=\"_ _314\"> </span> the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. Where it is not<span class=\"_ _0\"></span> possible to<span class=\"_ _314\"> </span> estimate the recoverable amount<span class=\"_ _0\"></span> of an individual asset, the<span class=\"_ _314\"> </span> Group estimates the reco<span class=\"_ _0\"></span>verable amount of the CGU<span class=\"_ _0\"></span> to which<span class=\"_ _314\"> </span> the asset belongs.<span class=\"_ _314\"> </span>An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount<span class=\"_ _314\"> </span> of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span> losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>,<span class=\"_ _314\"> </span> amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated<span class=\"_ _314\"> </span> f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span> CGU and then t<span class=\"_ _0\"></span>o reduce the carry<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> the other assets<span class=\"_ _314\"> </span> in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Useful ec<span class=\"_ _0\"></span>onomic life and<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tisation<span class=\"_ _0\"></span> method<span class=\"_ _314\"> </span>The useful economic<span class=\"_ _0\"></span> life and amorti<span class=\"_ _2\"></span>sation method of<span class=\"_ _0\"></span> intangible as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are rev<span class=\"_ _2\"></span>iewe<span class=\"_ _2\"></span>d at eac<span class=\"_ _2\"></span>h balan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et date. I<span class=\"_ _2\"></span>f th<span class=\"_ _2\"></span>ere has b<span class=\"_ _2\"></span>een a cha<span class=\"_ _2\"></span>nge in t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted u<span class=\"_ _2\"></span>sefu<span class=\"_ _2\"></span>l econ<span class=\"_ _2\"></span>omic l<span class=\"_ _2\"></span>ife or t<span class=\"_ _2\"></span>he exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted pat<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>rn of co<span class=\"_ _2\"></span>nsump<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of fu<span class=\"_ _2\"></span>ture e<span class=\"_ _2\"></span>conom<span class=\"_ _2\"></span>ic be<span class=\"_ _2\"></span>nef<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s emb<span class=\"_ _2\"></span>odie<span class=\"_ _2\"></span>d by an a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>, t<span class=\"_ _2\"></span>hen th<span class=\"_ _2\"></span>e usef<span class=\"_ _2\"></span>ul eco<span class=\"_ _2\"></span>nom<span class=\"_ _2\"></span>ic life o<span class=\"_ _2\"></span>r amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>isa<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n met<span class=\"_ _2\"></span>hod is changed<span class=\"_ _0\"></span> accordingly<span class=\"_ _314\"> </span>The Group considers the f<span class=\"_ _0\"></span>ollowing indicators, as a minimum, th<span class=\"_ _2\"></span>at may sh<span class=\"_ _2\"></span>ow th<span class=\"_ _2\"></span>at th<span class=\"_ _2\"></span>e usef<span class=\"_ _2\"></span>ul eco<span class=\"_ _2\"></span>nomi<span class=\"_ _2\"></span>c life or a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>isat<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span> met<span class=\"_ _2\"></span>hod o<span class=\"_ _2\"></span>f an ass<span class=\"_ _2\"></span>et may re<span class=\"_ _2\"></span>quire a c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether there have<span class=\"_ _0\"></span> been any changes to<span class=\"_ _0\"></span> legal, regulatory </span>or contractual pro<span class=\"_ _0\"></span>visions. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether there has been an<span class=\"_ _0\"></span>y experience in r<span class=\"_ _0\"></span>enewing or </span>extending related lic<span class=\"_ _0\"></span>ensing agreements. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether the effec<span class=\"_ _2\"></span>ts of obsolescence<span class=\"_ _0\"></span>, demand, competition </span>or maintenanc<span class=\"_ _0\"></span>e may impact the life of<span class=\"_ _0\"></span> the asset. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The expected future per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance of the business r<span class=\"_ _0\"></span>elated </span>to th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">For purchased customer and<span class=\"_ _0\"></span> supplier relationship assets, </span>th<span class=\"_ _2\"></span>e at<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>iti<span class=\"_ _2\"></span>on rat<span class=\"_ _2\"></span>e of cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>rs ve<span class=\"_ _2\"></span>rsu<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d at<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ion ra<span class=\"_ _2\"></span>tes set o<span class=\"_ _2\"></span>ut at a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIntangibleAssetsOtherThanGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-527": {
   "value": "<div class=\"t m0 h6 ff73 fs3 fc1 sc0 ls20 ws3 gs1ee\">9. Inta<span class=\"_ _0\"></span>ngible assets<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2c7\">The cost of<span class=\"_ _0\"></span> internally developed soft<span class=\"_ _2\"></span>ware acquir<span class=\"_ _0\"></span>ed in a business </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2c8\">com<span class=\"_ _2\"></span>bina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is it<span class=\"_ _2\"></span>s fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e at th<span class=\"_ _2\"></span>e date of a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>. This m<span class=\"_ _2\"></span>ay </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2c9\">include an incr<span class=\"_ _0\"></span>emental fair value adjustment to align the carry<span class=\"_ _2\"></span>ing </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2ca\">val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>wa<span class=\"_ _2\"></span>re wit<span class=\"_ _2\"></span>h it<span class=\"_ _2\"></span>s fa<span class=\"_ _2\"></span>ir val<span class=\"_ _2\"></span>ue.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2cb\">Where variable payments, that are dependent on<span class=\"_ _0\"></span> our future </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2cc\">ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, are to b<span class=\"_ _2\"></span>e made to t<span class=\"_ _2\"></span>hir<span class=\"_ _2\"></span>d par<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es for t<span class=\"_ _2\"></span>he dev<span class=\"_ _2\"></span>elop<span class=\"_ _2\"></span>ment o<span class=\"_ _2\"></span>f </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2cd\">sof<span class=\"_ _2\"></span>tware, these ar<span class=\"_ _0\"></span>e excluded<span class=\"_ _0\"></span> from the initial measurement of<span class=\"_ _0\"></span> the </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2ce\">asset. Ins<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>ad, the Group recognises the variable pa<span class=\"_ _0\"></span>ymen<span class=\"_ _2\"></span>ts as </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2cf\">an expense when inc<span class=\"_ _0\"></span>urred.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2d0\">Sof<span class=\"_ _2\"></span>tware purchased fr<span class=\"_ _0\"></span>om third par<span class=\"_ _2\"></span>ties and<span class=\"_ _0\"></span> sof<span class=\"_ _2\"></span>tware licence </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2d1\">cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> for the development and<span class=\"_ _0\"></span> implementat<span class=\"_ _2\"></span>ion o<span class=\"_ _0\"></span>f sys<span class=\"_ _2\"></span>tems<span class=\"_ _0\"></span> which </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2d2\">enhance the services provided by the Group<span class=\"_ _0\"></span>, are r<span class=\"_ _0\"></span>ecognised at </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2d3\">cost and amort<span class=\"_ _2\"></span>ised on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line basis<span class=\"_ _0\"></span> over their estimated </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2d4\">useful economic lives<span class=\"_ _0\"></span> of three to<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>ive years. The<span class=\"_ _0\"></span> SwapClear </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2d5\">int<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>ible a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed at co<span class=\"_ _2\"></span>st an<span class=\"_ _2\"></span>d amo<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d on a </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2d6\">str<span class=\"_ _2\"></span>aight-line basis o<span class=\"_ _0\"></span>ver its es<span class=\"_ _2\"></span>timated<span class=\"_ _0\"></span> useful economic life </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2d7\">of 1<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div><div class=\"t m2 h15 ff73 fs2 fc1 sc0 ls5 ws5 gs2d8\">Contract costs<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2d9\">Incremental costs of obtaining a c<span class=\"_ _0\"></span>us<span class=\"_ _2\"></span>tomer<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>t, such as sales </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2da\">commissions paid t<span class=\"_ _0\"></span>o employees, are<span class=\"_ _0\"></span> recognised as an intangible </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2db\">as<span class=\"_ _2\"></span>set if t<span class=\"_ _2\"></span>he be<span class=\"_ _2\"></span>nef<span class=\"_ _2\"></span>it of s<span class=\"_ _2\"></span>uch cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s is exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted to b<span class=\"_ _2\"></span>e long<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>an one<span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2dc\">yea<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. The a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t is ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t and is a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ised o<span class=\"_ _2\"></span>ver </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2dd\">the period that a customer benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> from the associated soft<span class=\"_ _2\"></span>ware </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2de\">technology suppor<span class=\"_ _2\"></span>ting the underlying product or ser<span class=\"_ _2\"></span>vice. The<span class=\"_ _0\"></span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2df\">Gro<span class=\"_ _2\"></span>up has e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imat<span class=\"_ _2\"></span>ed th<span class=\"_ _2\"></span>is to be b<span class=\"_ _2\"></span>etw<span class=\"_ _2\"></span>een t<span class=\"_ _2\"></span>hree a<span class=\"_ _2\"></span>nd f<span class=\"_ _2\"></span>ive ye<span class=\"_ _2\"></span>ars<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2e0\">The Group r<span class=\"_ _0\"></span>ecognises the incremental cost of<span class=\"_ _0\"></span> obtaining a contrac<span class=\"_ _2\"></span>t </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2e1\">as an e<span class=\"_ _0\"></span>xpense when incurred, if the amort<span class=\"_ _2\"></span>isation period is less </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2e2\">than one year<span class=\"_ _3\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m2 h15 ff73 fs2 fc1 sc0 ls6 ws7 gs2e3\">Impairment of intangible assets, including goodwill<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2e4\">Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> is tested for<span class=\"_ _0\"></span> impairment annually.<span class=\"_ _0\"></span> Any goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls46 ws7 gs2e5\">impairment is determined<span class=\"_ _0\"></span> by assessing the recov<span class=\"_ _0\"></span>erable amount of<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2e6\">eac<span class=\"_ _2\"></span>h CGU. W<span class=\"_ _2\"></span>hen t<span class=\"_ _2\"></span>he reco<span class=\"_ _2\"></span>vera<span class=\"_ _2\"></span>ble am<span class=\"_ _2\"></span>ount o<span class=\"_ _2\"></span>f the CG<span class=\"_ _2\"></span>U is le<span class=\"_ _2\"></span>ss t<span class=\"_ _2\"></span>han<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2e7\">it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> an impairment loss is rec<span class=\"_ _0\"></span>ognised<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Impairmen<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2e8\">losses relating t<span class=\"_ _0\"></span>o goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> cannot be reversed in<span class=\"_ _0\"></span> future periods.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2e9\">Intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are assessed for any<span class=\"_ _0\"></span> indicators of impairment at<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2ea\">each balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> If any indication exist<span class=\"_ _2\"></span>s, or<span class=\"_ _0\"></span> when annual<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2eb\">impairment testing for an<span class=\"_ _0\"></span> asset is required, the<span class=\"_ _0\"></span> Group est<span class=\"_ _2\"></span>imat<span class=\"_ _0\"></span>es<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs25b\">the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. Where it is not<span class=\"_ _0\"></span> possible to<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs25c\">estimate the recoverable amount<span class=\"_ _0\"></span> of an individual asset, the<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs25d\">Group estimates the reco<span class=\"_ _0\"></span>verable amount of the CGU<span class=\"_ _0\"></span> to which<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs25e\">the asset belongs.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs260\">An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2ec\">of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls9 ws7 gs2ed\">losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>,<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls9 ws7 gs2ee\">amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2ef\">f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2f0\">CGU and then t<span class=\"_ _0\"></span>o reduce the carry<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> the other assets<span class=\"_ _314\"> </span> </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2f1\">in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div><div class=\"t m2 h15 ff73 fs2 fc1 sc0 ls5 ws5 gs2f2\">Useful ec<span class=\"_ _0\"></span>onomic life and<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tisation<span class=\"_ _0\"></span> method<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs2f3\">The useful economic<span class=\"_ _0\"></span> life and amorti<span class=\"_ _2\"></span>sation method of<span class=\"_ _0\"></span> intangible </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2f4\">as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are rev<span class=\"_ _2\"></span>iewe<span class=\"_ _2\"></span>d at eac<span class=\"_ _2\"></span>h balan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et date. I<span class=\"_ _2\"></span>f th<span class=\"_ _2\"></span>ere has b<span class=\"_ _2\"></span>een </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2f5\">a cha<span class=\"_ _2\"></span>nge in t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted u<span class=\"_ _2\"></span>sefu<span class=\"_ _2\"></span>l econ<span class=\"_ _2\"></span>omic l<span class=\"_ _2\"></span>ife or t<span class=\"_ _2\"></span>he exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2f6\">pat<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>rn of co<span class=\"_ _2\"></span>nsump<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of fu<span class=\"_ _2\"></span>ture e<span class=\"_ _2\"></span>conom<span class=\"_ _2\"></span>ic be<span class=\"_ _2\"></span>nef<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s emb<span class=\"_ _2\"></span>odie<span class=\"_ _2\"></span>d </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs2f7\">by an a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>, t<span class=\"_ _2\"></span>hen th<span class=\"_ _2\"></span>e usef<span class=\"_ _2\"></span>ul eco<span class=\"_ _2\"></span>nom<span class=\"_ _2\"></span>ic life o<span class=\"_ _2\"></span>r amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>isa<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n met<span class=\"_ _2\"></span>hod </div><div class=\"t m2 h5 ff71 fs2 fc1 sc0 ls10 ws20 gs2f8\">is changed<span class=\"_ _0\"></span> accordingly<span class=\"_ _314\"> </span><span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div>The Group considers the f<span class=\"_ _0\"></span>ollowing indicators, as a minimum, th<span class=\"_ _2\"></span>at may sh<span class=\"_ _2\"></span>ow th<span class=\"_ _2\"></span>at th<span class=\"_ _2\"></span>e usef<span class=\"_ _2\"></span>ul eco<span class=\"_ _2\"></span>nomi<span class=\"_ _2\"></span>c life or a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>isat<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span> met<span class=\"_ _2\"></span>hod o<span class=\"_ _2\"></span>f an ass<span class=\"_ _2\"></span>et may re<span class=\"_ _2\"></span>quire a c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether there have<span class=\"_ _0\"></span> been any changes to<span class=\"_ _0\"></span> legal, regulatory </span>or contractual pro<span class=\"_ _0\"></span>visions. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether there has been an<span class=\"_ _0\"></span>y experience in r<span class=\"_ _0\"></span>enewing or </span>extending related lic<span class=\"_ _0\"></span>ensing agreements. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether the effec<span class=\"_ _2\"></span>ts of obsolescence<span class=\"_ _0\"></span>, demand, competition </span>or maintenanc<span class=\"_ _0\"></span>e may impact the life of<span class=\"_ _0\"></span> the asset. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The expected future per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance of the business r<span class=\"_ _0\"></span>elated </span>to th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">For purchased customer and<span class=\"_ _0\"></span> supplier relationship assets, </span>th<span class=\"_ _2\"></span>e at<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>iti<span class=\"_ _2\"></span>on rat<span class=\"_ _2\"></span>e of cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>rs ve<span class=\"_ _2\"></span>rsu<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d at<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ion ra<span class=\"_ _2\"></span>tes set o<span class=\"_ _2\"></span>ut at a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion.<span class=\"_ _314\"> </span>Significant accounting estimates and<span class=\"_ _0\"></span> assumptions<span class=\"_ _314\"> </span>Recov<span class=\"_ _0\"></span>erable amounts of certain CGUs<span class=\"_ _314\"> </span>The reco<span class=\"_ _0\"></span>verable amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of CGUs are<span class=\"_ _0\"></span> based on value-<span class=\"_ _2\"></span>in-<span class=\"_ _2\"></span>use calculations<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The value<span class=\"_ _2\"></span>-in<span class=\"_ _2\"></span>-use calculations use cash flow project<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> based on business plans prepar<span class=\"_ _0\"></span>ed by management for the three-year period ending 31 December<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>8. In assessing value-<span class=\"_ _2\"></span>in-<span class=\"_ _2\"></span>use,<span class=\"_ _0\"></span> the est<span class=\"_ _2\"></span>imated<span class=\"_ _0\"></span> future cash flow<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are discounted to th<span class=\"_ _2\"></span>eir pr<span class=\"_ _2\"></span>esen<span class=\"_ _2\"></span>t valu<span class=\"_ _2\"></span>e usin<span class=\"_ _2\"></span>g a pre<span class=\"_ _2\"></span>-t<span class=\"_ _2\"></span>ax di<span class=\"_ _2\"></span>scoun<span class=\"_ _2\"></span>t rate t<span class=\"_ _2\"></span>hat ref<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ts current mark<span class=\"_ _0\"></span>et assessment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the time value of<span class=\"_ _0\"></span> money and the ri<span class=\"_ _2\"></span>sks sp<span class=\"_ _2\"></span>eci<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>c to the C<span class=\"_ _2\"></span>GUs<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Estimated useful economic lives of<span class=\"_ _0\"></span> material purchased intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are amor<span class=\"_ _2\"></span>tised over<span class=\"_ _0\"></span> their estimated useful economic lives, being m<span class=\"_ _0\"></span>anagement<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>s best est<span class=\"_ _2\"></span>imat<span class=\"_ _0\"></span>e of the period over which<span class=\"_ _0\"></span> value from the intangible assets is realised. In determining use<span class=\"_ _0\"></span>ful economic life f<span class=\"_ _0\"></span>or customer and supplier relationships,<span class=\"_ _0\"></span> brands and databases<span class=\"_ _0\"></span> and content, man<span class=\"_ _0\"></span>agement considers a number o<span class=\"_ _0\"></span>f fac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> including: customer att<span class=\"_ _2\"></span>rition rates; market<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>ticipant perspec<span class=\"_ _2\"></span>tives of brands; and<span class=\"_ _0\"></span> pace of ch<span class=\"_ _0\"></span>ange of regulation.<span class=\"_ _314\"> </span><div class=\"gse3\"><table class=\"s w460 h253\" id=\"_ba6dde85-5dd0-47ea-8ea7-1c2ae354e645\"><tr><td></td><td></td><td></td><td></td><td class=\"t m2 x767 h13 y2223 ff72 fs6 fc1 sc0 lse5 ws75\">Purchased intangible assets<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m2 x768 h13 y2224 ff72 fs6 fc1 sc0 ls110 ws183\">Soft<span class=\"_ _2\"></span>ware, </td><td class=\"t m2 x6cf h13 y2224 ff72 fs6 fc1 sc0 ls110 ws183\">Soft<span class=\"_ _2\"></span>ware, </td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x769 h13 y2225 ff72 fs6 fc1 sc0 ls27 ws43\">Customer and<span class=\"_ _0\"></span> </td><td></td><td></td><td class=\"t m2 x76a h13 y2225 ff72 fs6 fc1 sc0 ls94 ws125\">licen<span class=\"_ _2\"></span>ces and </td><td class=\"t m2 x76b h13 y2225 ff72 fs6 fc1 sc0 ls12 ws81\">contract </td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x76c h13 y2226 ff72 fs6 fc1 sc0 lse5 ws125\">supplier </td><td></td><td class=\"t m2 x76d h13 y2226 ff72 fs6 fc1 sc0 ls12 ws81\">Databases </td><td class=\"t m2 x25d h13 y2226 ff72 fs6 fc1 sc0 lse5 ws125\">intellectual </td><td class=\"t m2 x6cf h13 y2226 ff72 fs6 fc1 sc0 ls26 ws3\">cos<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>nd </td><td></td></tr><tr><td></td><td class=\"t m2 x76e h13 y2227 ff72 fs6 fc1 sc0 ls77 wsa0\">Goodwill<span class=\"_ _314\"> </span></td><td class=\"c n x76f y2228 w461 h21b\"><div class=\"t m2 x1e4 h13 y20af ff72 fs6 fc1 sc0 lse5 ws125\">relationships<span class=\"_ _314\"> </span></div></td><td class=\"c n x770 y2228 w462 h21b\"><div class=\"t m2 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls110 ws183\">B<span class=\"_ _2\"></span>rands<span class=\"_ _314\"> </span></div></td><td class=\"t m2 x771 h13 y2227 ff72 fs6 fc1 sc0 ls27 ws43\">and cont<span class=\"_ _0\"></span>ent<span class=\"_ _314\"> </span></td><td class=\"t m2 x772 h13 y2227 ff72 fs6 fc1 sc0 ls27 ws45\">propert<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></td><td class=\"c n x759 y2228 w463 h21b\"><div class=\"t m2 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls12 ws81\">other<span class=\"_ _314\"> </span></div></td><td class=\"c n x773 y2228 w464 h21b\"><div class=\"t m2 x1e4 h13 y20af ff72 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x47b y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x774 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x775 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x776 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x777 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x778 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x779 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h187 y222a ff72 fs129 fc1 sc0 ls6d ws97\">Cost<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y222b w12c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x77a y222b w465 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls72 ws9b\">19<span class=\"_ _2\"></span>,276<span class=\"_ _314\"> </span></div></td><td class=\"c n x77b y222b w466 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">9,66<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x77c y222b w467 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">1,998<span class=\"_ _314\"> </span></div></td><td class=\"c n x77d y222b w468 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">2,5<span class=\"_ _0\"></span>80<span class=\"_ _314\"> </span></div></td><td class=\"c n x77e y222b w469 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">857<span class=\"_ _314\"> </span></div></td><td class=\"c n x77f y222b w46a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">4,860<span class=\"_ _314\"> </span></div></td><td class=\"c n x780 y222b w46b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">39,<span class=\"_ _2\"></span>239<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y222c w46c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Intangible assets acquired<span class=\"_ _0\"></span> on acquisition of<span class=\"_ _0\"></span> subsidiaries<span class=\"_ _314\"> </span></div></td><td class=\"c n x781 y222c w46d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7e wsaa\">258<span class=\"_ _314\"> </span></div></td><td class=\"c n x782 y222c w46e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">3<span class=\"_ _2\"></span>07<span class=\"_ _314\"> </span></div></td><td class=\"c n x783 y222c w3c1 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x516 y222c w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x784 y222c w46f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">146<span class=\"_ _314\"> </span></div></td><td class=\"c n x785 y222c w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x786 y222c w392 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">714<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y222d w470 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Additions<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ff y222d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x787 y222d w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x788 y222d w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x789 y222d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x78a y222d w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x3b1 y222d w471 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">93<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n x78b y222d w472 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">934<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y222e w473 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposal of<span class=\"_ _0\"></span> business<span class=\"_ _314\"> </span></div></td><td class=\"c n x78c y222e w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x78d y222e w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x78e y222e w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x78f y222e w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x790 y222e w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x791 y222e w474 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsac wsd7\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x792 y222e w407 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsac wsd7\">(<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y222f w475 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td class=\"c n x793 y222f w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x794 y222f w476 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls70 ws76\">(10)<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y222f w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y222f w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y222f w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x795 y222f w477 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">(<span class=\"_ _2\"></span>429)<span class=\"_ _314\"> </span></div></td><td class=\"c n x796 y222f w478 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>39)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2230 w1fa h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x797 y2230 w479 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">164<span class=\"_ _314\"> </span></div></td><td class=\"c n x798 y2230 w47a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls70 ws76\">172<span class=\"_ _314\"> </span></div></td><td class=\"c n x799 y2230 w19d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">33<span class=\"_ _314\"> </span></div></td><td class=\"c n x79a y2230 w47b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _314\"> </span></div></td><td class=\"c n x79b y2230 w210 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x79c y2230 w47c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa9 ws7e\">(31)<span class=\"_ _314\"> </span></div></td><td class=\"c n x79d y2230 w400 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">399<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2231 w15d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x79e y2231 w47d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6f ws99\">19,69<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x79f y2231 w47e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>37<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a0 y2231 w47f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">2,034<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a1 y2231 w480 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls61 ws86\">2,629<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a2 y2231 w481 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6f ws99\">1,015<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a3 y2231 w482 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">5,<span class=\"_ _2\"></span>331<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a4 y2231 w483 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">40,8<span class=\"_ _2\"></span>44<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2232 w484 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Additions</div><div class=\"t m2 x7a5 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2233 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2233 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2233 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2233 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2233 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ab y2233 w485 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">863<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ac y2233 w485 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">863<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2234 w486 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Additions to<span class=\"_ _0\"></span> SwapClear intangible asset</div><div class=\"t m2 x7ad h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2235 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2235 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2235 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2235 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2235 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ae y2235 w487 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>71<span class=\"_ _314\"> </span></div></td><td class=\"c n x7af y2235 w487 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,17<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2236 w488 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other</div><div class=\"t m2 x7b0 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2237 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2237 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2237 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2237 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2237 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b1 y2237 w489 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">(116)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b2 y2237 w48a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>16)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2238 w1fa h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2238 w48b h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">(980)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b3 y2238 w48c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d ws97\">(679)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b4 y2238 w48d h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(128<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b5 y2238 w167 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(188)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b6 y2238 w48e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>5)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b7 y2238 w48f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(<span class=\"_ _2\"></span>73)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b8 y2238 w490 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(2,093)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2239 w186 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b9 y2239 w491 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls8 ws5\">18,7<span class=\"_ _0\"></span>18<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ba y2239 w492 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>458<span class=\"_ _314\"> </span></div></td><td class=\"c n x7bb y2239 w493 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa8 wsd5\">1<span class=\"_ _2\"></span>,906<span class=\"_ _314\"> </span></div></td><td class=\"c n x7bc y2239 w494 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa3 wsce\">2,<span class=\"_ _2\"></span>441<span class=\"_ _314\"> </span></div></td><td class=\"c n x7bd y2239 w495 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6a ws1\">9<span class=\"_ _2\"></span>70<span class=\"_ _314\"> </span></div></td><td class=\"c n x7be y2239 w496 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x7bf y2239 w497 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls67 ws61\">4<span class=\"_ _2\"></span>0,669<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h187 y223a ff72 fs129 fc1 sc0 ls6d wsd4\">Accumulated<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tisation and<span class=\"_ _0\"></span> impairment<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y223b w12c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c0 y223b w13c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">30<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c1 y223b w498 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">2,1<span class=\"_ _2\"></span>66<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c2 y223b w43c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6f ws99\">693<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c3 y223b w499 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">687<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c4 y223b w18f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c5 y223b w49a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">2,1<span class=\"_ _2\"></span>43<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c6 y223b w49b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">6<span class=\"_ _2\"></span>,092<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y223c w49c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Amor<span class=\"_ _2\"></span>tisation<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c7 y223c w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c8 y223c w49d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb0 wsdb\">607<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c9 y223c w3c5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6e ws98\">145<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ca y223c w49e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">223<span class=\"_ _314\"> </span></div></td><td class=\"c n x7cb y223c w49f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsea ws113\">73<span class=\"_ _314\"> </span></div></td><td class=\"c n x7cc y223c w4a0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">903<span class=\"_ _314\"> </span></div></td><td class=\"c n x7cd y223c w4a1 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,9<span class=\"_ _2\"></span>51<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y223d w4a2 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Impairment<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ce y223d w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7cf y223d w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d0 y223d w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d1 y223d w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d2 y223d w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d3 y223d w4a3 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">216<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d4 y223d w4a4 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">216<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y223e w473 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposal of<span class=\"_ _0\"></span> business<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d5 y223e w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d6 y223e w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d7 y223e w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d8 y223e w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d9 y223e w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7da y223e w31d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7db y223e w31d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y223f w475 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td class=\"c n x793 y223f w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x794 y223f w476 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">(10)<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y223f w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y223f w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y223f w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7dc y223f w4a5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb9 wse9\">(<span class=\"_ _2\"></span>424<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7dd y223f w4a6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">(434)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2240 w1fa h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x7de y2240 w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7df y2240 w340 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsba wsea\">40<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e0 y2240 wdc h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">14<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e1 y2240 wf9 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e2 y2240 w38b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e3 y2240 w2b8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">(23)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e4 y2240 w4a7 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2241 w15d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e5 y2241 w13c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">30<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e6 y2241 w4a8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,8<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e7 y2241 wec h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws1\">8<span class=\"_ _2\"></span>52<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e8 y2241 w4a9 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">927<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e9 y2241 w18e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb8 wse8\">4<span class=\"_ _2\"></span>48<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ea y2241 w60 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>814<span class=\"_ _314\"> </span></div></td><td class=\"c n x7eb y2241 w4aa h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2243 w4ab h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Amor<span class=\"_ _2\"></span>tisation</div><div class=\"t m2 x7ec h194 y2242 ff71 fs12a fc1 sc0 ls113 ws188\">2,4<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2244 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ed y2244 w4ac h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">601<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ee y2244 w4ad h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ef y2244 w4ae h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">216<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f0 y2244 w4af h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls72 ws9b\">76<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f1 y2244 w427 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6f ws99\">939<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f2 y2244 w4b0 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsee ws55\">1,973<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2245 w4b1 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Impairment</div><div class=\"t m2 x7f3 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2246 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2246 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2246 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2246 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2246 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f4 y2246 w4b2 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f5 y2246 w4b2 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2247 w488 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other</div><div class=\"t m2 x7b0 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2248 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2248 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2248 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2248 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2248 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f6 y2248 w4b3 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">(112)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f7 y2248 w4b3 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">(112)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2249 w1fa h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f8 y2249 wa0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f9 y2249 w4b4 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">(1<span class=\"_ _2\"></span>82)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fa y2249 w4b5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">(5<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fb y2249 w4b6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws1\">(<span class=\"_ _2\"></span>70)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fc y2249 w3ec h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fd y2249 w4b7 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa8 wsd5\">(30)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fe y2249 w4b8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb5 wse3\">(<span class=\"_ _2\"></span>351<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y224a w186 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ff y224a w4b9 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa7 wsd3\">29<span class=\"_ _314\"> </span></div></td><td class=\"c n x800 y224a w363 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">3<span class=\"_ _2\"></span>,222<span class=\"_ _314\"> </span></div></td><td class=\"c n x801 y224a w427 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6f ws99\">939<span class=\"_ _314\"> </span></div></td><td class=\"c n x802 y224a w4ba h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsee ws55\">1,073<span class=\"_ _314\"> </span></div></td><td class=\"c n x803 y224a w4bb h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsb5 wse3\">51<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x804 y224a w4bc h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">3,<span class=\"_ _2\"></span>623<span class=\"_ _314\"> </span></div></td><td class=\"c n x805 y224a w4bd h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>39<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y224b w4be h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k valu<span class=\"_ _2\"></span>es</div><div class=\"t m2 x806 h195 y210f ff72 fs12a fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y224c w186 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x807 y224c w4bf h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>8,689<span class=\"_ _314\"> </span></div></td><td class=\"c n x808 y224c w4c0 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">6,23<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x809 y224c w4c1 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">9<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td><td class=\"c n x80a y224c w4c2 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa8 wsd5\">1,368<span class=\"_ _314\"> </span></div></td><td class=\"c n x80b y224c w224 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">460<span class=\"_ _314\"> </span></div></td><td class=\"c n x80c y224c w4c3 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsad wsdc\">3,<span class=\"_ _2\"></span>553<span class=\"_ _314\"> </span></div></td><td class=\"c n x80d y224c wb5 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsee ws55\">31,273<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w15d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x79e y2069 w4c4 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">19,668<span class=\"_ _314\"> </span></div></td><td class=\"c n x80e y2069 w4c5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>3<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n x80f y2069 w4c6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n x810 y2069 w4c7 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls82 wsaf\">1<span class=\"_ _2\"></span>,702<span class=\"_ _314\"> </span></div></td><td class=\"c n x811 y2069 w4c8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">567<span class=\"_ _314\"> </span></div></td><td class=\"c n x812 y2069 w4c9 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls73 ws9c\">2<span class=\"_ _2\"></span>,51<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x813 y2069 w4ca h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls72 ws9b\">32,<span class=\"_ _2\"></span>970<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m2 hc ff71 fs7 fc1 sc0 lsb ws3 gs318\">1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng th<span class=\"_ _2\"></span>e yea<span class=\"_ _2\"></span>r, cons<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion f<span class=\"_ _2\"></span>or ad<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>ns com<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>se<span class=\"_ _2\"></span>d \u00a3861 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a39<span class=\"_ _2\"></span>34 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on) in c<span class=\"_ _2\"></span>ash a<span class=\"_ _2\"></span>nd \u00a3<span class=\"_ _2\"></span>2 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (2024: ni<span class=\"_ _2\"></span>l) i<span class=\"_ _2\"></span>n accr<span class=\"_ _2\"></span>ual<span class=\"_ _2\"></span>s. T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup c<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d sal<span class=\"_ _2\"></span>es co<span class=\"_ _2\"></span>mmi<span class=\"_ _2\"></span>ssi<span class=\"_ _2\"></span>ons p<span class=\"_ _2\"></span>aid to e<span class=\"_ _2\"></span>mp<span class=\"_ _2\"></span>loye<span class=\"_ _2\"></span>es </div><div class=\"t m2 hc ff71 fs7 fc1 sc0 lsb ws3 gs319\">(co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s) of \u00a366 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a351 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m2 hc ff71 fs7 fc1 sc0 lsb ws3 gs31a\">2 <span class=\"_ _7\"> </span>In O<span class=\"_ _2\"></span>cto<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>red a<span class=\"_ _2\"></span>n inc<span class=\"_ _2\"></span>reas<span class=\"_ _2\"></span>ed sh<span class=\"_ _2\"></span>are i<span class=\"_ _2\"></span>n the S<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>Cle<span class=\"_ _2\"></span>ar in<span class=\"_ _2\"></span>tan<span class=\"_ _2\"></span>gib<span class=\"_ _2\"></span>le as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>, for a t<span class=\"_ _2\"></span>ota<span class=\"_ _2\"></span>l con<span class=\"_ _2\"></span>sid<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of \u00a31<span class=\"_ _2\"></span>,17<span class=\"_ _2\"></span>1 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (of wh<span class=\"_ _2\"></span>ich \u00a3<span class=\"_ _2\"></span>921 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on wa<span class=\"_ _2\"></span>s pai<span class=\"_ _2\"></span>d in 2025 a<span class=\"_ _2\"></span>nd \u00a3<span class=\"_ _2\"></span>250 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on </div><div class=\"t m2 hc ff71 fs7 fc1 sc0 lsb ws3 gs31b\">is p<span class=\"_ _2\"></span>aya<span class=\"_ _2\"></span>ble i<span class=\"_ _2\"></span>n 2026 (se<span class=\"_ _2\"></span>e not<span class=\"_ _2\"></span>e 15)<span class=\"_ _2\"></span>). Am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sat<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>n of \u00a31<span class=\"_ _2\"></span>9 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n has b<span class=\"_ _2\"></span>een c<span class=\"_ _2\"></span>harg<span class=\"_ _2\"></span>ed fo<span class=\"_ _2\"></span>r tw<span class=\"_ _2\"></span>o mon<span class=\"_ _2\"></span>ths s<span class=\"_ _2\"></span>inc<span class=\"_ _2\"></span>e ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>l reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on. S<span class=\"_ _2\"></span>ee n<span class=\"_ _2\"></span>ote 9.<span class=\"_ _2\"></span>2 for t<span class=\"_ _2\"></span>he ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k val<span class=\"_ _2\"></span>ue at 3<span class=\"_ _2\"></span>1 De<span class=\"_ _2\"></span>cem<span class=\"_ _2\"></span>ber 2025<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m2 hc ff71 fs7 fc1 sc0 lsb ws3 gs31c\">3 <span class=\"_ _7\"> </span>D<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed d<span class=\"_ _2\"></span>isp<span class=\"_ _2\"></span>osa<span class=\"_ _2\"></span>ls an<span class=\"_ _2\"></span>d wr<span class=\"_ _2\"></span>ite<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>fs of a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h are n<span class=\"_ _2\"></span>o lon<span class=\"_ _2\"></span>ger i<span class=\"_ _2\"></span>n use of \u00a3<span class=\"_ _2\"></span>11<span class=\"_ _2\"></span>2 mill<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h nil n<span class=\"_ _2\"></span>et bo<span class=\"_ _2\"></span>ok va<span class=\"_ _2\"></span>lue (<span class=\"_ _2\"></span>2024: \u00a343<span class=\"_ _2\"></span>4 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n wi<span class=\"_ _2\"></span>th ni<span class=\"_ _2\"></span>l net b<span class=\"_ _2\"></span>ook v<span class=\"_ _2\"></span>alu<span class=\"_ _2\"></span>e).<span class=\"_ _314\"> </span></div><div class=\"t m2 hc ff71 fs7 fc1 sc0 lsb ws3 gs31d\">4 <span class=\"_ _7\"> </span>I<span class=\"_ _2\"></span>ncl<span class=\"_ _2\"></span>ude<span class=\"_ _2\"></span>s amo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tis<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on of c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s of \u00a3<span class=\"_ _2\"></span>51 mill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a349 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m2 hc ff71 fs7 fc1 sc0 lsb ws3 gs31e\">5 <span class=\"_ _7\"> </span>Fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>g a revi<span class=\"_ _2\"></span>ew of s<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>tw<span class=\"_ _2\"></span>are a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>n the y<span class=\"_ _2\"></span>ear, th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d a \u00a312 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irm<span class=\"_ _2\"></span>ent c<span class=\"_ _2\"></span>har<span class=\"_ _2\"></span>ge (2024: \u00a3<span class=\"_ _2\"></span>21<span class=\"_ _2\"></span>6 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n) in re<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>n to ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s wi<span class=\"_ _2\"></span>th a re<span class=\"_ _2\"></span>cove<span class=\"_ _2\"></span>rab<span class=\"_ _2\"></span>le am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t les<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>n th<span class=\"_ _2\"></span>eir </div><div class=\"t m2 hc ff71 fs7 fc1 sc0 ls29 ws47 gs31f\">carr<span class=\"_ _2\"></span>ying value.<span class=\"_ _314\"> </span></div><div class=\"t m2 hc ff71 fs7 fc1 sc0 lsb ws3 gs320\">6 <span class=\"_ _7\"> </span>At 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er 2025, s<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware<span class=\"_ _2\"></span>, con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct c<span class=\"_ _2\"></span>os<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d ot<span class=\"_ _2\"></span>her n<span class=\"_ _2\"></span>et bo<span class=\"_ _2\"></span>ok va<span class=\"_ _2\"></span>lue i<span class=\"_ _2\"></span>nclu<span class=\"_ _2\"></span>des<span class=\"_ _2\"></span>:</div><div class=\"t m2 hc ff71 fs7 fc1 sc0 ls4 ws3 gs321\"> <span class=\"_ _22e\"></span>\u2013 <span class=\"lsb\">Ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s not ye<span class=\"_ _2\"></span>t bro<span class=\"_ _2\"></span>ugh<span class=\"_ _2\"></span>t int<span class=\"_ _2\"></span>o use of \u00a3<span class=\"_ _2\"></span>57<span class=\"_ _2\"></span>3 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (2024: \u00a3<span class=\"_ _2\"></span>712 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on)<span class=\"_ _2\"></span>. No am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sat<span class=\"_ _2\"></span>ion h<span class=\"_ _2\"></span>as be<span class=\"_ _2\"></span>en ch<span class=\"_ _2\"></span>arg<span class=\"_ _2\"></span>ed on t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s and i<span class=\"_ _2\"></span>ns<span class=\"_ _2\"></span>tead t<span class=\"_ _2\"></span>hey a<span class=\"_ _2\"></span>re as<span class=\"_ _2\"></span>ses<span class=\"_ _2\"></span>sed f<span class=\"_ _2\"></span>or in<span class=\"_ _2\"></span>dic<span class=\"_ _2\"></span>ato<span class=\"_ _2\"></span>rs of i<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irm<span class=\"_ _2\"></span>ent a<span class=\"_ _2\"></span>nnu<span class=\"_ _2\"></span>all<span class=\"_ _2\"></span>y.</span></div><div class=\"t m2 hc ff71 fs7 fc1 sc0 ls4 ws3 gs322\"> <span class=\"_ _22e\"></span>\u2013 <span class=\"lsb\">Cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct c<span class=\"_ _2\"></span>ost<span class=\"_ _2\"></span>s of \u00a3<span class=\"_ _2\"></span>93 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on (2024: \u00a3<span class=\"_ _2\"></span>80 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></span></div>9.<span class=\"_ _0\"></span>1 Goodwill<span class=\"_ _314\"> </span>During the year<span class=\"_ _0\"></span>, f<span class=\"_ _0\"></span>ollowing the change in reporting s<span class=\"_ _2\"></span>tructure (see not<span class=\"_ _0\"></span>e 2), the Group<span class=\"_ _0\"></span> reassessed it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> CGUs and concluded that the pr<span class=\"_ _0\"></span>eviousl<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ted: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Ca<span class=\"_ _2\"></span>pit<span class=\"_ _2\"></span>al Ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s, excl<span class=\"_ _2\"></span>udin<span class=\"_ _2\"></span>g T<span class=\"_ _0\"></span>rad<span class=\"_ _2\"></span>eweb CG<span class=\"_ _2\"></span>U shou<span class=\"_ _2\"></span>ld be re<span class=\"_ _2\"></span>orga<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d into t<span class=\"_ _2\"></span>wo ne<span class=\"_ _2\"></span>w CGUs<span class=\"_ _2\"></span>: Digi<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>l &amp; Secu<span class=\"_ _2\"></span>rit<span class=\"_ _2\"></span>ies M<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s an<span class=\"_ _2\"></span>d FX<span class=\"_ _2\"></span>; and</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Pos<span class=\"_ _2\"></span>t T<span class=\"_ _0\"></span>rad<span class=\"_ _2\"></span>e CGU sh<span class=\"_ _2\"></span>oul<span class=\"_ _2\"></span>d be reo<span class=\"_ _2\"></span>rgani<span class=\"_ _2\"></span>sed in<span class=\"_ _2\"></span>to four n<span class=\"_ _2\"></span>ew CGU<span class=\"_ _2\"></span>s: L<span class=\"_ _0\"></span>C<span class=\"_ _2\"></span>H Ltd, LCH S<span class=\"_ _2\"></span>A, P<span class=\"_ _2\"></span>ost Trade S<span class=\"_ _2\"></span>olu<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns and Re<span class=\"_ _2\"></span>gul<span class=\"_ _2\"></span>ator<span class=\"_ _2\"></span>y Rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng.<span class=\"_ _314\"> </span></span>The<span class=\"_ _2\"></span>re is no c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e to the o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r CGUs<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill i<span class=\"_ _2\"></span>s allo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to and m<span class=\"_ _2\"></span>oni<span class=\"_ _2\"></span>tored by m<span class=\"_ _2\"></span>anag<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>t at th<span class=\"_ _2\"></span>e level o<span class=\"_ _2\"></span>f the G<span class=\"_ _2\"></span>roup\u2019s CG<span class=\"_ _2\"></span>Us as s<span class=\"_ _2\"></span>et out b<span class=\"_ _2\"></span>elow<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span><table class=\"s w4d0 h255\" id=\"_acc89f6a-c9c7-4fa5-b380-85e0b173ebb0\"><tr><td></td><td></td><td></td><td class=\"t m0 x817 h13 y2258 ff72 fs6 fc1 sc0 ls26 ws3\">Ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k valu<span class=\"_ _2\"></span>e of go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x6d5 h13 y2259 ff72 fs6 fc1 sc0 lse5 ws125\">Foreign </td><td></td></tr><tr><td></td><td class=\"t m0 x818 hb y225a ff71 fs6 fc1 sc0 ls12 ws44\">1 January<span class=\"ls4 ws3\"> </span></td><td></td><td class=\"t m0 x819 h13 y225a ff72 fs6 fc1 sc0 ls27 ws45\">exchange<span class=\"_ _0\"></span> </td><td class=\"t m0 x81a h13 y225a ff72 fs6 fc1 sc0 ls27 ws43\">31 December </td></tr><tr><td></td><td class=\"t m0 x2cd hb y225b ff71 fs6 fc1 sc0 ls82 wseb\"> 2025<span class=\"_ _314\"> </span></td><td class=\"t m0 x817 h13 y225b ff72 fs6 fc1 sc0 ls27 ws45\">Reallocation<span class=\"_ _314\"> </span></td><td class=\"t m0 x2cf h13 y225b ff72 fs6 fc1 sc0 ls41 ws56\">translation<span class=\"_ _314\"> </span></td><td class=\"t m0 x81b h13 y225b ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x81c hb y225c ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 x772 h13 y225c ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 x81d h13 y225c ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 x25f h13 y225c ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y2070 w4d1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wscc\">Data<span class=\"_ _0\"></span> &amp; An<span class=\"_ _0\"></span>alytics<span class=\"_ _314\"> </span></div></td><td class=\"c n x81e y2070 w4d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsad wsdc\">6,671<span class=\"_ _314\"> </span></div></td><td class=\"c n x3ab y2070 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x81f y2070 w4d3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(285)<span class=\"_ _314\"> </span></div></td><td class=\"c n x820 y2070 w23e h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">6,<span class=\"_ _2\"></span>386<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y225d w4d4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws5\">FTSE Russell<span class=\"_ _314\"> </span></div></td><td class=\"c n x821 y225d w4d5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">5,49<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x822 y225d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x823 y225d w2f2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls21 ws8a\">(247<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x824 y225d w4d6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">5<span class=\"_ _2\"></span>,24<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2061 w4d7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Risk Intelligenc<span class=\"_ _0\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n x825 y2061 w4d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">1,660<span class=\"_ _314\"> </span></div></td><td class=\"c n x826 y2061 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x827 y2061 w222 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(53)<span class=\"_ _314\"> </span></div></td><td class=\"c n x828 y2061 w4d9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>,607<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2062 w4da h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Capital Markets, ex<span class=\"_ _0\"></span>cluding T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x829 y2062 w38b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x82a y2062 w1a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x82b y2062 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x82c y2062 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2189 w4db h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Digital &amp; Securities Markets<span class=\"_ _314\"> </span></div></td><td class=\"c n x82d y2189 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x82e y2189 w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x82f y2189 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x830 y2189 w4dc h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2072 w2b4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsbc wsed\">FX<span class=\"_ _314\"> </span></div></td><td class=\"c n x831 y2072 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x832 y2072 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x833 y2072 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x834 y2072 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2073 w4dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x835 y2073 w4de h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb9 wse9\">5<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>24<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td><td class=\"c n x836 y2073 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x837 y2073 w4df h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(<span class=\"_ _2\"></span>375)<span class=\"_ _314\"> </span></div></td><td class=\"c n x838 y2073 w4e0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls78 wse4\">4<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w4e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Post T<span class=\"_ _3\"></span>rade<span class=\"_ _314\"> </span></div></td><td class=\"c n x839 y214a w2d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">590<span class=\"_ _314\"> </span></div></td><td class=\"c n x83a y214a w4e2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls95 wsc2\">(590)<span class=\"_ _314\"> </span></div></td><td class=\"c n x83b y214a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x83c y214a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w4e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws76\">LCH Ltd<span class=\"_ _314\"> </span></div></td><td class=\"c n x83d y2066 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x83e y2066 w4e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">26<span class=\"_ _314\"> </span></div></td><td class=\"c n x83f y2066 w55 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x840 y2066 w177 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6e ws98\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w4e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaf ws17f\">LC<span class=\"_ _2\"></span>H S<span class=\"_ _2\"></span>A<span class=\"_ _314\"> </span></div></td><td class=\"c n x83d y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x83e y214c w4e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb0 wsdb\">92<span class=\"_ _314\"> </span></div></td><td class=\"c n x841 y214c w4e7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n x842 y214c w4e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa9 ws7e\">96<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2075 w4e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Post T<span class=\"_ _3\"></span>rade Solutions<span class=\"_ _314\"> </span></div></td><td class=\"c n x843 y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x844 y2075 w1fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">472<span class=\"_ _314\"> </span></div></td><td class=\"c n x845 y2075 w4ea h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>24)<span class=\"_ _314\"> </span></div></td><td class=\"c n x846 y2075 wfe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls88 wsb4\">448<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w4eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6e ws96\">Regu<span class=\"_ _2\"></span>lator<span class=\"_ _2\"></span>y Repor<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng<span class=\"_ _314\"> </span></div></td><td class=\"c n x847 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x848 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x849 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x267 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x84a y2069 w4ec h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">19,66<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x84b y2069 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x84c y2069 w48c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d ws97\">(979)<span class=\"_ _314\"> </span></div></td><td class=\"c n x84d y2069 w4ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">18,68<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr></table>Annual goodwill impairment<span class=\"_ _0\"></span> test<span class=\"_ _314\"> </span>Go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill a<span class=\"_ _2\"></span>s at 30 S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2025 was te<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d for im<span class=\"_ _2\"></span>pair<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>. Fo<span class=\"_ _2\"></span>r each C<span class=\"_ _2\"></span>GU, t<span class=\"_ _2\"></span>he es<span class=\"_ _2\"></span>tim<span class=\"_ _2\"></span>ated re<span class=\"_ _2\"></span>cover<span class=\"_ _2\"></span>able a<span class=\"_ _2\"></span>moun<span class=\"_ _2\"></span>t was h<span class=\"_ _2\"></span>ighe<span class=\"_ _2\"></span>r than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g valu<span class=\"_ _2\"></span>e (being the net book value<span class=\"_ _0\"></span>) and theref<span class=\"_ _0\"></span>ore no impairment was<span class=\"_ _0\"></span> ident<span class=\"_ _2\"></span>ified or recognised.<span class=\"_ _314\"> </span>The reco<span class=\"_ _0\"></span>verable amount of each<span class=\"_ _0\"></span> CGU was determined based<span class=\"_ _0\"></span> on value<span class=\"_ _2\"></span>-in-<span class=\"_ _2\"></span>use calculations. The value-in<span class=\"_ _2\"></span>-use calculations are based<span class=\"_ _0\"></span> on, and most sen<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ive to<span class=\"_ _2\"></span>, the fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>ing key as<span class=\"_ _2\"></span>sum<span class=\"_ _2\"></span>ptio<span class=\"_ _2\"></span>ns:<span class=\"_ _314\"> </span><table class=\"s w4cb h254\" id=\"_444297fd-1b4e-4436-8281-866f5b785789\"><tr><td class=\"c n x1eb y224d w4cc h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls41 ws56\">Assumption<span class=\"_ _314\"> </span></div></td><td class=\"c n x814 y224d w4cd h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls12 ws44\">Determination of assumption<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y224e ff71 fs129 fc1 sc0 ls6c ws7e\">Shor<span class=\"_ _2\"></span>t-<span class=\"_ _0\"></span> and medium-<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erm revenue </td><td class=\"t m0 x815 h193 y224e ff71 fs129 fc1 sc0 ls6c ws7e\">The short-term revenue<span class=\"_ _0\"></span> and cost growth assumptions are based<span class=\"_ _0\"></span> on the business plans pr<span class=\"_ _0\"></span>epared by man<span class=\"_ _0\"></span>agement </td></tr><tr><td class=\"t m0 x1e7 h193 y224f ff71 fs129 fc1 sc0 ls6a ws3\">an<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t grow<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>h<span class=\"_ _314\"> </span></td><td class=\"t m0 x815 h193 y224f ff71 fs129 fc1 sc0 ls6a ws3\">for t<span class=\"_ _2\"></span>he t<span class=\"_ _2\"></span>hree<span class=\"_ _2\"></span>-y<span class=\"_ _2\"></span>ear pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d end<span class=\"_ _2\"></span>ing 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 2028 and ex<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>nded b<span class=\"_ _2\"></span>y a fur<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>her t<span class=\"_ _2\"></span>hree y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s for tr<span class=\"_ _2\"></span>ende<span class=\"_ _2\"></span>d med<span class=\"_ _2\"></span>ium<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x815 h193 y2250 ff71 fs129 fc1 sc0 ls6c ws7e\">term gro<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>th. Business plans ar<span class=\"_ _0\"></span>e based on an<span class=\"_ _0\"></span> assessment of current<span class=\"_ _0\"></span> trends, anticipated marke<span class=\"_ _0\"></span>t and regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y </td></tr><tr><td></td><td class=\"t m0 x815 h193 y2251 ff71 fs129 fc1 sc0 ls89 wsda\">developments, discussions with customers and<span class=\"_ _0\"></span> suppliers and manage<span class=\"_ _0\"></span>ment<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>s experience<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x1e7 h193 y2252 ff71 fs129 fc1 sc0 ls89 wsda\">Long-term economic<span class=\"_ _0\"></span> grow<span class=\"_ _2\"></span>th rat<span class=\"_ _0\"></span>es </td><td class=\"t m0 x815 h193 y2252 ff71 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s beyo<span class=\"_ _2\"></span>nd an i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>ial t<span class=\"_ _2\"></span>hree<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>year p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d are ex<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>rap<span class=\"_ _2\"></span>olat<span class=\"_ _2\"></span>ed usi<span class=\"_ _2\"></span>ng a me<span class=\"_ _2\"></span>dium<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>term g<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>th r<span class=\"_ _2\"></span>ate (as d<span class=\"_ _2\"></span>isc<span class=\"_ _2\"></span>uss<span class=\"_ _2\"></span>ed </td></tr><tr><td class=\"t m0 x1e7 h193 y2253 ff71 fs129 fc1 sc0 ls6c ws7e\">(used t<span class=\"_ _0\"></span>o determine t<span class=\"_ _0\"></span>erminal values)<span class=\"_ _314\"> </span></td><td class=\"t m0 x815 h193 y2253 ff71 fs129 fc1 sc0 ls6a ws3\">ab<span class=\"_ _2\"></span>ove) for a f<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>ree ye<span class=\"_ _2\"></span>ars<span class=\"_ _2\"></span>. At wh<span class=\"_ _2\"></span>ich p<span class=\"_ _2\"></span>oint t<span class=\"_ _2\"></span>he ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s are ex<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>rap<span class=\"_ _2\"></span>olate<span class=\"_ _2\"></span>d usi<span class=\"_ _2\"></span>ng es<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>mate<span class=\"_ _2\"></span>d long<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>term g<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span> </td></tr><tr><td></td><td class=\"t m0 x815 h193 y2254 ff71 fs129 fc1 sc0 ls6a ws3\">ra<span class=\"_ _2\"></span>tes, w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h are ba<span class=\"_ _2\"></span>sed on e<span class=\"_ _2\"></span>xt<span class=\"_ _2\"></span>erna<span class=\"_ _2\"></span>l es<span class=\"_ _2\"></span>tim<span class=\"_ _2\"></span>ates of G<span class=\"_ _2\"></span>DP a<span class=\"_ _2\"></span>nd inf<span class=\"_ _2\"></span>la<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n.<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y2255 w4ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pre-t<span class=\"_ _2\"></span>ax<span class=\"_ _0\"></span> discount rates<span class=\"_ _314\"> </span></div></td><td class=\"c n x816 y2255 w4cf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Weig<span class=\"_ _2\"></span>hted a<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>age co<span class=\"_ _2\"></span>st of c<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal i<span class=\"_ _2\"></span>s dete<span class=\"_ _2\"></span>rmin<span class=\"_ _2\"></span>ed us<span class=\"_ _2\"></span>ing ma<span class=\"_ _2\"></span>rket r<span class=\"_ _2\"></span>isk-f<span class=\"_ _2\"></span>ree r<span class=\"_ _2\"></span>ates b<span class=\"_ _2\"></span>ase<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e yie<span class=\"_ _2\"></span>lds of g<span class=\"_ _2\"></span>over<span class=\"_ _2\"></span>nme<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x815 h193 y2256 ff71 fs129 fc1 sc0 ls6a ws3\">bo<span class=\"_ _2\"></span>nds m<span class=\"_ _2\"></span>ost re<span class=\"_ _2\"></span>lev<span class=\"_ _2\"></span>ant to t<span class=\"_ _2\"></span>he op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns of t<span class=\"_ _2\"></span>he CGU<span class=\"_ _2\"></span>, adju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d for co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y and op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal r<span class=\"_ _2\"></span>isk an<span class=\"_ _2\"></span>d the c<span class=\"_ _2\"></span>ost o<span class=\"_ _2\"></span>f </td></tr><tr><td></td><td class=\"t m0 x815 h193 y2257 ff71 fs129 fc1 sc0 ls6a ws3\">bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing fo<span class=\"_ _2\"></span>r the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p.<span class=\"_ _314\"> </span></td></tr></table><div class=\"t m0 h15 ff73 fs2 fc1 sc0 lsc ws41 gs332\">V<span class=\"_ _0\"></span>alue<span class=\"_ _2\"></span>-in<span class=\"_ _2\"></span>-use assumptions<span class=\"_ _314\"> </span></div><div class=\"gs333\"><table class=\"s w4ee h256\" id=\"_fda7d12d-465e-4af8-9587-dbd15ed4b97d\"><tr><td></td><td></td><td class=\"c n x84e y225e w4ef h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls27 ws43\">Long-term gro<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>th rat<span class=\"_ _0\"></span>es<span class=\"_ _314\"> </span></div></td><td class=\"c n x84f y225e w4f0 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls12 ws44\">Pre-<span class=\"_ _2\"></span>tax disc<span class=\"_ _0\"></span>ount rates<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c n x850 y225f w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x851 y225f w32 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td><td class=\"c n x852 y225f w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x853 y225f w4f1 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x854 y2260 w4f2 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td><td class=\"c n x855 y2260 w4f3 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td><td class=\"c n x856 y2260 w4f2 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td><td class=\"c n x857 y2260 w4f4 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2072 w4d1 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wscc\">Data<span class=\"_ _0\"></span> &amp; An<span class=\"_ _0\"></span>alytics<span class=\"_ _314\"> </span></div></td><td class=\"c n x858 y2072 w4f5 h21c\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">4.0<span class=\"_ _314\"> </span></div></td><td class=\"c n x859 y2072 w4f6 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">4.0<span class=\"_ _314\"> </span></div></td><td class=\"c n x85a y2072 w4f7 h21c\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">11.<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x85b y2072 w4f8 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">11<span class=\"_ _2\"></span>.0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2073 w4d4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws5\">FTSE Russell<span class=\"_ _314\"> </span></div></td><td class=\"c n x85c y2073 w4f9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls96 wsc3\">3<span class=\"_ _2\"></span>.7<span class=\"_ _314\"> </span></div></td><td class=\"c n x85d y2073 w4fa h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">3.9<span class=\"_ _314\"> </span></div></td><td class=\"c n x85e y2073 w4fb h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb1 wsdd\">1<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x85f y2073 w4fc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">11<span class=\"_ _2\"></span>.8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w4d7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Risk Intelligenc<span class=\"_ _0\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n x860 y214a w4fd h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls96 wsc3\">3.7<span class=\"_ _314\"> </span></div></td><td class=\"c n x861 y214a w4fe h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">3.8<span class=\"_ _314\"> </span></div></td><td class=\"c n x862 y214a w4ff h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb1 wsdd\">1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x863 y214a w8b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">12.<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w4db h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Digital &amp; Securities Markets<span class=\"_ _314\"> </span></div></td><td class=\"c n x864 y2066 w500 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d ws97\">3<span class=\"_ _2\"></span>.4<span class=\"_ _314\"> </span></div></td><td class=\"c n x865 y2066 w501 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls58 wsb5\">3.7<span class=\"_ _314\"> </span></div></td><td class=\"c n x866 y2066 w4f5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls58 wsb5\">9.9<span class=\"_ _314\"> </span></div></td><td class=\"c n x867 y2066 w6f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">9.1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w4dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x868 y214c w502 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">3.8<span class=\"_ _314\"> </span></div></td><td class=\"c n x869 y214c w503 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">4.0<span class=\"_ _314\"> </span></div></td><td class=\"c n x86a y214c w504 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls67 ws61\">1<span class=\"_ _2\"></span>0.4<span class=\"_ _314\"> </span></div></td><td class=\"c n x86b y214c w505 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>0.7<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w4e3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws76\">LCH Ltd<span class=\"_ _314\"> </span></div></td><td class=\"c n x86c y213e w506 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d ws97\">3.4<span class=\"_ _314\"> </span></div></td><td class=\"c n x86d y213e w507 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td><td class=\"c n x86e y213e w508 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls39 ws0\">12<span class=\"_ _2\"></span>.6<span class=\"_ _314\"> </span></div></td><td class=\"c n x86f y213e w509 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N/A<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w4e5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaf ws17f\">LC<span class=\"_ _2\"></span>H S<span class=\"_ _2\"></span>A<span class=\"_ _314\"> </span></div></td><td class=\"c n x870 y2068 w502 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">3.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x871 y2068 w507 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td><td class=\"c n x872 y2068 w115 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls58 wsb5\">9.6<span class=\"_ _314\"> </span></div></td><td class=\"c n x59c y2068 w50a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w4e9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Post T<span class=\"_ _3\"></span>rade Solutions<span class=\"_ _314\"> </span></div></td><td class=\"c n x873 y2069 w50b h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">3.8<span class=\"_ _314\"> </span></div></td><td class=\"c n x874 y2069 w509 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N/A<span class=\"_ _314\"> </span></div></td><td class=\"c n x875 y2069 w50c h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">8.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x876 y2069 w50a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h9 ff72 fs2 fc1 sc0 lsc ws41 gs334\">Sensitiv<span class=\"_ _2\"></span>ity analysis<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs335\">The e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imat<span class=\"_ _2\"></span>ed val<span class=\"_ _2\"></span>ue<span class=\"_ _2\"></span>-in<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>use of e<span class=\"_ _2\"></span>ach CG<span class=\"_ _2\"></span>U exceed<span class=\"_ _2\"></span>s it<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yi<span class=\"_ _2\"></span>ng val<span class=\"_ _2\"></span>ue. We do no<span class=\"_ _2\"></span>t expe<span class=\"_ _2\"></span>ct t<span class=\"_ _2\"></span>hat a re<span class=\"_ _2\"></span>ason<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>y pos<span class=\"_ _2\"></span>sibl<span class=\"_ _2\"></span>e or fore<span class=\"_ _2\"></span>seea<span class=\"_ _2\"></span>ble ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n the<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs336\">as<span class=\"_ _2\"></span>sump<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>s in is<span class=\"_ _2\"></span>olat<span class=\"_ _2\"></span>ion wo<span class=\"_ _2\"></span>uld le<span class=\"_ _2\"></span>ad to an i<span class=\"_ _2\"></span>mpai<span class=\"_ _2\"></span>rmen<span class=\"_ _2\"></span>t los<span class=\"_ _2\"></span>s bein<span class=\"_ _2\"></span>g reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for al<span class=\"_ _2\"></span>l of th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s CG<span class=\"_ _2\"></span>Us. T<span class=\"_ _2\"></span>he Pos<span class=\"_ _2\"></span>t T<span class=\"_ _0\"></span>rad<span class=\"_ _2\"></span>e Sol<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ions CG<span class=\"_ _2\"></span>U is t<span class=\"_ _2\"></span>he onl<span class=\"_ _2\"></span>y </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs337\">CGU s<span class=\"_ _2\"></span>ensi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve to rela<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve chan<span class=\"_ _2\"></span>ges i<span class=\"_ _2\"></span>n the ma<span class=\"_ _2\"></span>in as<span class=\"_ _2\"></span>sump<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>s (cas<span class=\"_ _2\"></span>h fl<span class=\"_ _2\"></span>ows<span class=\"_ _2\"></span>, long<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>term g<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>th r<span class=\"_ _2\"></span>ate and p<span class=\"_ _2\"></span>re<span class=\"_ _2\"></span>-ta<span class=\"_ _2\"></span>x dis<span class=\"_ _2\"></span>count r<span class=\"_ _2\"></span>ate) w<span class=\"_ _2\"></span>hich<span class=\"_ _2\"></span>, in iso<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>ion, co<span class=\"_ _2\"></span>uld </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs338\">lead to<span class=\"_ _0\"></span> the value<span class=\"_ _2\"></span>-in-<span class=\"_ _2\"></span>use reducing<span class=\"_ _0\"></span> below the carr<span class=\"_ _2\"></span>ying amount. These changes, in isolation, ar<span class=\"_ _0\"></span>e: 29% r<span class=\"_ _0\"></span>educ<span class=\"_ _2\"></span>tion in t<span class=\"_ _0\"></span>erminal cash flow<span class=\"_ _2\"></span>s;<span class=\"_ _0\"></span> 2.2 percentage </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs339\">point reduction in the long-<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erm grow<span class=\"_ _2\"></span>th rate<span class=\"_ _0\"></span>; and 2.<span class=\"_ _0\"></span>4 percentage point incr<span class=\"_ _0\"></span>ease in the pre-ta<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> discount rate. Changes<span class=\"_ _0\"></span> beyond those amounts would </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs33a\">have l<span class=\"_ _2\"></span>ed to an i<span class=\"_ _2\"></span>mpai<span class=\"_ _2\"></span>rme<span class=\"_ _2\"></span>nt los<span class=\"_ _2\"></span>s bein<span class=\"_ _2\"></span>g reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r ende<span class=\"_ _2\"></span>d 31<span class=\"_ gsbf\"> </span>De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 2025. Th<span class=\"_ _2\"></span>is sen<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y ana<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>sis is p<span class=\"_ _2\"></span>repare<span class=\"_ _2\"></span>d on t<span class=\"_ _2\"></span>he bas<span class=\"_ _2\"></span>is tha<span class=\"_ _2\"></span>t any </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs33b\">cha<span class=\"_ _2\"></span>nge in e<span class=\"_ _2\"></span>ach key as<span class=\"_ _2\"></span>sum<span class=\"_ _2\"></span>ptio<span class=\"_ _2\"></span>n woul<span class=\"_ _2\"></span>d not ha<span class=\"_ _2\"></span>ve a cons<span class=\"_ _2\"></span>equ<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>ial imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t on ot<span class=\"_ _2\"></span>her as<span class=\"_ _2\"></span>sum<span class=\"_ _2\"></span>ptio<span class=\"_ _2\"></span>ns us<span class=\"_ _2\"></span>ed.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls4 ws2b gs33c\">9.2 Material intangible assets<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs33d\">The material<span class=\"_ _0\"></span> intangible asset<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e set out below:<span class=\"_ _314\"> </span></div><div class=\"gs33e\"><table class=\"s w50d h257\" id=\"_bac2c57c-536e-4094-9b67-a696ce268092\"><tr><td></td><td class=\"t m0 x877 h13 y2261 ff72 fs6 fc1 sc0 ls27 ws43\">Net book value<span class=\"_ _0\"></span> <span class=\"ls4 ws3\"> </span></td><td></td><td class=\"t m0 x878 h13 y2261 ff72 fs6 fc1 sc0 ls4 ws3\">Remaini<span class=\"_ _2\"></span>ng </td></tr><tr><td></td><td class=\"t m0 x768 h13 y2262 ff72 fs6 fc1 sc0 lse5 ws75\">of material <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td></td><td class=\"t m0 x81a h13 y2262 ff72 fs6 fc1 sc0 ls27 ws45\">amortisation </td></tr><tr><td></td><td class=\"t m0 x2d5 h13 y2263 ff72 fs6 fc1 sc0 lse5 ws75\">intangible assets<span class=\"_ _314\"> </span></td><td></td><td class=\"t m0 x879 h13 y2263 ff72 fs6 fc1 sc0 ls77 wsa0\">period<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"c n x87a y2264 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x87b y2264 w32 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c n x87c y2265 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x87d y2265 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x87e y2265 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2266 ff72 fs129 fc1 sc0 ls6d wsd4\">Customer and supplier relationships<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2070 w4e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">Refinit<span class=\"_ _2\"></span>iv<span class=\"_ _314\"> </span></div></td><td class=\"c n x87f y2070 w50e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa9 ws7e\">4,5<span class=\"_ _0\"></span>16<span class=\"_ _314\"> </span></div></td><td class=\"c n x880 y2070 w50f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">5,<span class=\"_ _2\"></span>303<span class=\"_ _314\"> </span></div></td><td class=\"c n x881 y2070 w510 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">11 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y225d w4dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x882 y225d w511 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">687<span class=\"_ _314\"> </span></div></td><td class=\"c n x883 y225d w512 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">8<span class=\"_ _2\"></span>23<span class=\"_ _314\"> </span></div></td><td class=\"c n x884 y225d w513 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 ws9a\">8<span class=\"_ _2\"></span>-15 ye<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b9 w514 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6d wsd4\">Frank Russell<span class=\"_ _314\"> </span></div></td><td class=\"c n x885 y21b9 w1fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">247<span class=\"_ _314\"> </span></div></td><td class=\"c n x886 y21b9 w515 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">28<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x887 y21b9 w516 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 ws9a\">9<span class=\"_ _2\"></span>-14<span class=\"_ _2\"></span> yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2062 w517 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls88 wsb4\">ICD<span class=\"_ _314\"> </span></div></td><td class=\"c n x888 y2062 w2ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">229<span class=\"_ _314\"> </span></div></td><td class=\"c n x85a y2062 w518 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">26<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n x889 y2062 w519 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">14 ye<span class=\"_ _2\"></span>ars<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2189 w51a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa7 wsd3\">Acadia<span class=\"_ _314\"> </span></div></td><td class=\"c n x88a y2189 w51b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">195<span class=\"_ _314\"> </span></div></td><td class=\"c n x1f0 y2189 w49e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">223<span class=\"_ _314\"> </span></div></td><td class=\"c n x88b y2189 w51c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">1<span class=\"_ _2\"></span>5 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2267 ff72 fs129 fc1 sc0 ls7b wse0\">Brands<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2073 w4e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">Refinit<span class=\"_ _2\"></span>iv<span class=\"_ _314\"> </span></div></td><td class=\"c n x88c y2073 w51d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">331<span class=\"_ _314\"> </span></div></td><td class=\"c n x88d y2073 w51e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">4<span class=\"_ _2\"></span>49<span class=\"_ _314\"> </span></div></td><td class=\"c n x88e y2073 w51f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">1<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w514 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6d wsd4\">Frank Russell<span class=\"_ _314\"> </span></div></td><td class=\"c n x88f y214a w328 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsaa wsd6\">366<span class=\"_ _314\"> </span></div></td><td class=\"c n x890 y214a w520 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls73 ws9c\">422<span class=\"_ _314\"> </span></div></td><td class=\"c n x891 y214a w521 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">14 ye<span class=\"_ _2\"></span>ars<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w4dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x892 y214b w522 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">134<span class=\"_ _314\"> </span></div></td><td class=\"c n x893 y214b w523 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">158<span class=\"_ _314\"> </span></div></td><td class=\"c n x298 y214b w51f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">1<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2268 ff72 fs129 fc1 sc0 ls76 ws5\">Databases and<span class=\"_ _0\"></span> content<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213e w4e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">Refinit<span class=\"_ _2\"></span>iv<span class=\"_ _314\"> </span></div></td><td class=\"c n x346 y213e w4c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa8 wsd5\">1,368<span class=\"_ _314\"> </span></div></td><td class=\"c n x894 y213e w524 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6f ws99\">1,693<span class=\"_ _314\"> </span></div></td><td class=\"c n x895 y213e w525 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls115 ws18a\">6<span class=\"_ _2\"></span>-7<span class=\"_ _2\"></span> ye<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w526 h258\"><div class=\"t m0 x1e4 h187 y2269 ff72 fs129 fc1 sc0 ls6d wsd4\">Soft<span class=\"_ _2\"></span>ware, c<span class=\"_ _0\"></span>ontrac<span class=\"_ _2\"></span>t c<span class=\"_ _0\"></span>ost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws96\">SwapClear<span class=\"_ _314\"> </span></div></td><td class=\"c n x896 y2069 w527 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>57<span class=\"_ _314\"> </span></div></td><td class=\"c n x897 y2069 w50a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td><td class=\"c n x898 y2069 w51f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">1<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs33f\">There ar<span class=\"_ _0\"></span>e no other individual intangible assets that are consider<span class=\"_ _0\"></span>ed material to<span class=\"_ _0\"></span> each class of<span class=\"_ _0\"></span> intangib<span class=\"_ _2\"></span>le<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div>The balance sheet<span class=\"_ _0\"></span> includes signif<span class=\"_ _2\"></span>icant<span class=\"_ _0\"></span> intangible assets, mainly in rela<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n to good<span class=\"_ _2\"></span>will<span class=\"_ _2\"></span>, custo<span class=\"_ _2\"></span>mer and su<span class=\"_ _2\"></span>ppli<span class=\"_ _2\"></span>er rela<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>ships an<span class=\"_ _2\"></span>d intern<span class=\"_ _2\"></span>ally<span class=\"_ _2\"></span> devel<span class=\"_ _2\"></span>oped so<span class=\"_ _2\"></span>ft<span class=\"_ _2\"></span>wa<span class=\"_ _2\"></span>re. Goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll ari<span class=\"_ _2\"></span>ses when w<span class=\"_ _2\"></span>e acqui<span class=\"_ _2\"></span>re a busin<span class=\"_ _2\"></span>ess and<span class=\"_ _2\"></span> pa<span class=\"_ _2\"></span>y an amo<span class=\"_ _2\"></span>unt high<span class=\"_ _2\"></span>er tha<span class=\"_ _2\"></span>n the fa<span class=\"_ _2\"></span>ir valu<span class=\"_ _2\"></span>e of it<span class=\"_ _2\"></span>s net asse<span class=\"_ _2\"></span>ts pr<span class=\"_ _2\"></span>imari<span class=\"_ _2\"></span>ly due<span class=\"_ _2\"></span> to th<span class=\"_ _2\"></span>e syner<span class=\"_ _2\"></span>gies we e<span class=\"_ _2\"></span>xpec<span class=\"_ _2\"></span>t to crea<span class=\"_ _2\"></span>te. Goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll is not a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed but i<span class=\"_ _2\"></span>s subject t<span class=\"_ _0\"></span>o annual impairme<span class=\"_ _0\"></span>nt revie<span class=\"_ _0\"></span>ws<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Purchased<span class=\"_ _0\"></span> and other int<span class=\"_ _0\"></span>angible ass<span class=\"_ _2\"></span>ets are a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed over t<span class=\"_ _2\"></span>heir use<span class=\"_ _2\"></span>ful eco<span class=\"_ _2\"></span>nomic l<span class=\"_ _2\"></span>ives<span class=\"_ _2\"></span>.  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> arising on the acquisition of a<span class=\"_ _0\"></span> business is initially mea<span class=\"_ _2\"></span>sure<span class=\"_ _2\"></span>d at cos<span class=\"_ _2\"></span>t, b<span class=\"_ _2\"></span>eing t<span class=\"_ _2\"></span>he am<span class=\"_ _2\"></span>ount b<span class=\"_ _2\"></span>y whic<span class=\"_ _2\"></span>h the a<span class=\"_ _2\"></span>ggre<span class=\"_ _2\"></span>gate of<span class=\"_ _2\"></span> the consideration transferred and the amount r<span class=\"_ _0\"></span>ecognised for any non-<span class=\"_ _2\"></span>controlling inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ts (plus any pr<span class=\"_ _0\"></span>evious interest held), ex<span class=\"_ _0\"></span>ceeds the net identifiable asset<span class=\"_ _2\"></span>s acquir<span class=\"_ _0\"></span>ed and liabilities assumed.<span class=\"_ _314\"> </span>Af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r init<span class=\"_ _2\"></span>ial re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ion, g<span class=\"_ _2\"></span>ood<span class=\"_ _2\"></span>wil<span class=\"_ _2\"></span>l is mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t less a<span class=\"_ _2\"></span>ny accumulated<span class=\"_ _0\"></span> impairment losses. For the purpose of impairment testing, on the date o<span class=\"_ _0\"></span>f acquisition, goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> acquired in a<span class=\"_ _0\"></span> business com<span class=\"_ _2\"></span>bina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is all<span class=\"_ _2\"></span>ocat<span class=\"_ _2\"></span>ed to one o<span class=\"_ _2\"></span>r more o<span class=\"_ _2\"></span>f the G<span class=\"_ _2\"></span>roup\u2019s ca<span class=\"_ _2\"></span>sh<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span>gen<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g unit<span class=\"_ _2\"></span>s (CG<span class=\"_ _2\"></span>Us) t<span class=\"_ _2\"></span>hat are ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d to bene<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t fro<span class=\"_ _2\"></span>m the combination.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill ha<span class=\"_ _2\"></span>s bee<span class=\"_ _2\"></span>n allo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to a CGU an<span class=\"_ _2\"></span>d par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin t<span class=\"_ _2\"></span>hat uni<span class=\"_ _2\"></span>t is di<span class=\"_ _2\"></span>spo<span class=\"_ _2\"></span>sed of, t<span class=\"_ _2\"></span>he go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill a<span class=\"_ _2\"></span>ssoc<span class=\"_ _2\"></span>iate<span class=\"_ _2\"></span>d with the disposed operation is included in the carry<span class=\"_ _2\"></span>ing amount when determining its gain or<span class=\"_ _0\"></span> loss on disposal. Goodwill disposed in these circumstances is<span class=\"_ _0\"></span> measured based on the r<span class=\"_ _0\"></span>elative values of t<span class=\"_ _2\"></span>he dis<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion an<span class=\"_ _2\"></span>d the p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of t<span class=\"_ _2\"></span>he CGU re<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>ed.<span class=\"_ _314\"> </span>Purchased intangible assets<span class=\"_ _314\"> </span>Purchased intangible assets are initially rec<span class=\"_ _0\"></span>ognised at cost. The cost of<span class=\"_ _0\"></span> intangibl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>quired in a business<span class=\"_ _0\"></span> combination is t<span class=\"_ _2\"></span>heir f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue at t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te of acq<span class=\"_ _2\"></span>uisi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n. Th<span class=\"_ _2\"></span>is is de<span class=\"_ _2\"></span>termi<span class=\"_ _2\"></span>ned using valuation methodologies such as<span class=\"_ _0\"></span> the mult<span class=\"_ _2\"></span>i-period excess earnings method or rel<span class=\"_ _0\"></span>ief from ro<span class=\"_ _0\"></span>yalt<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Following initial recognition, intangible assets are carried at cost less an<span class=\"_ _0\"></span>y accumulated amor<span class=\"_ _2\"></span>tisation and accumulat<span class=\"_ _0\"></span>ed impairment losses<span class=\"_ _314\"> </span>These assets are amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> as follows:<span class=\"_ _314\"> </span><table class=\"s w44a h251\" id=\"_56b4d1dd-c642-4770-b2b6-c6fe48868f1c\"><tr><td></td><td></td><td class=\"t m0 x74b hb y2215 ff71 fs6 fc1 sc0 ls7a wsbe\">Amor<span class=\"_ _2\"></span>tisation </td></tr><tr><td></td><td></td><td class=\"t m0 x74c hb y2216 ff71 fs6 fc1 sc0 ls27 ws43\">period or useful </td></tr><tr><td class=\"c n x1eb y2217 w44b h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lse0 ws110\">As<span class=\"_ _2\"></span>sets<span class=\"_ _314\"> </span></div></td><td class=\"c n x74d y2217 w44c h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsf1 wscc\">Amortisation<span class=\"_ _0\"></span> metho<span class=\"_ _0\"></span>d<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x74e hb y2218 ff71 fs6 fc1 sc0 ls27 ws43\">economic life<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x41d h193 y2219 ff71 fs129 fc1 sc0 ls6c ws7e\">Customer and supplier </td><td class=\"c n x74f y221a w44d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x750 y221a w44e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">5 t<span class=\"_ _2\"></span>o 25 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x41d h193 y221b ff71 fs129 fc1 sc0 ls76 ws9f\">relationships<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y219d w44f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws96\">Brands<span class=\"_ _314\"> </span></div></td><td class=\"c n x751 y219d w450 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x752 y219d w451 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">4 to 25 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w452 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Databases and c<span class=\"_ _0\"></span>ontent<span class=\"_ _314\"> </span></div></td><td class=\"c n x753 y219e w453 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">St<span class=\"_ _2\"></span>raight-line basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x754 y219e w454 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">5 t<span class=\"_ _2\"></span>o 12 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y221c w455 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls39 ws0\">Sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware<span class=\"_ _314\"> </span></div></td><td class=\"c n x755 y221c w456 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Straight-line basis or<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x756 h193 y221d ff71 fs129 fc1 sc0 ls6a ws3\">7 to 15 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x757 h193 y221e ff71 fs129 fc1 sc0 ls6c ws7e\">reducing balanc<span class=\"_ _0\"></span>e basis<span class=\"_ _314\"> </span></td><td></td></tr><tr><td class=\"c x1eb y2069 w457 h222\"><div class=\"t m0 x1e4 h193 y20d1 ff71 fs129 fc1 sc0 ls6c ws7e\">Licences<span class=\"_ _0\"></span> and<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">intellectual proper<span class=\"_ _2\"></span>ty<span class=\"_ _314\"> </span></div></td><td class=\"c n x74f y221f w44d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x758 y221f w458 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">3 to 25 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td></tr></table>Sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware, co<span class=\"_ _2\"></span>ntra<span class=\"_ _2\"></span>ct cos<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>nd othe<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>Sof<span class=\"_ _2\"></span>tware, contract cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> other comprises internally developed sof<span class=\"_ _2\"></span>tware, soft<span class=\"_ _2\"></span>ware<span class=\"_ _0\"></span> purchased from third parties, the SwapClear intangible asset and contract cost<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Sof<span class=\"_ _2\"></span>tware and other<span class=\"_ _314\"> </span>Exp<span class=\"_ _2\"></span>enditure<span class=\"_ _0\"></span> on internal product development, including expenditure relat<span class=\"_ _0\"></span>ed to cloud c<span class=\"_ _0\"></span>omput<span class=\"_ _2\"></span>ing arrangements, is capitalised if: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The costs can be reliably measur<span class=\"_ _0\"></span>ed</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The product or process is<span class=\"_ _0\"></span> technically and commercially<span class=\"_ _0\"></span> feasible</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Future economic<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its are probable</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The Group has<span class=\"_ _0\"></span> suf<span class=\"_ _2\"></span>ficient resources t<span class=\"_ _0\"></span>o complete the </span>development and t<span class=\"_ _0\"></span>o use or sell<span class=\"_ _0\"></span> the asset<span class=\"_ _314\"> </span>In<span class=\"_ _2\"></span>terna<span class=\"_ _2\"></span>lly d<span class=\"_ _2\"></span>evelo<span class=\"_ _2\"></span>ped s<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware is i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y reco<span class=\"_ _2\"></span>rded a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t, w<span class=\"_ _2\"></span>hich includes labour<span class=\"_ _0\"></span>, directly at<span class=\"_ _2\"></span>tributable cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> any third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y expenses. Following initial recognition, the asset is carried at<span class=\"_ _0\"></span> cost less any acc<span class=\"_ _0\"></span>umulated amor<span class=\"_ _2\"></span>tisation and accumulat<span class=\"_ _0\"></span>ed impairment losses. Amor<span class=\"_ _2\"></span>tisation of the asset begins when de<span class=\"_ _0\"></span>velopment is com<span class=\"_ _2\"></span>plete<span class=\"_ _2\"></span>, and t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et is av<span class=\"_ _2\"></span>aila<span class=\"_ _2\"></span>ble for u<span class=\"_ _2\"></span>se. Th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>ets a<span class=\"_ _2\"></span>re the<span class=\"_ _2\"></span>n amor<span class=\"_ _2\"></span>tised on a<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>traight-line basis over<span class=\"_ _0\"></span> their useful economic lives of t<span class=\"_ _2\"></span>hree to 12 y<span class=\"_ _2\"></span>ears<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsAndGoodwillExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-542": {
   "value": "9. Inta<span class=\"_ _0\"></span>ngible assets<span class=\"_ _314\"> </span>The cost of<span class=\"_ _0\"></span> internally developed soft<span class=\"_ _2\"></span>ware acquir<span class=\"_ _0\"></span>ed in a business com<span class=\"_ _2\"></span>bina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is it<span class=\"_ _2\"></span>s fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e at th<span class=\"_ _2\"></span>e date of a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>. This m<span class=\"_ _2\"></span>ay include an incr<span class=\"_ _0\"></span>emental fair value adjustment to align the carry<span class=\"_ _2\"></span>ing val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>wa<span class=\"_ _2\"></span>re wit<span class=\"_ _2\"></span>h it<span class=\"_ _2\"></span>s fa<span class=\"_ _2\"></span>ir val<span class=\"_ _2\"></span>ue.<span class=\"_ _314\"> </span>Where variable payments, that are dependent on<span class=\"_ _0\"></span> our future ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, are to b<span class=\"_ _2\"></span>e made to t<span class=\"_ _2\"></span>hir<span class=\"_ _2\"></span>d par<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es for t<span class=\"_ _2\"></span>he dev<span class=\"_ _2\"></span>elop<span class=\"_ _2\"></span>ment o<span class=\"_ _2\"></span>f sof<span class=\"_ _2\"></span>tware, these ar<span class=\"_ _0\"></span>e excluded<span class=\"_ _0\"></span> from the initial measurement of<span class=\"_ _0\"></span> the asset. Ins<span class=\"_ _2\"></span>te<span class=\"_ _0\"></span>ad, the Group recognises the variable pa<span class=\"_ _0\"></span>ymen<span class=\"_ _2\"></span>ts as an expense when inc<span class=\"_ _0\"></span>urred.<span class=\"_ _314\"> </span>Sof<span class=\"_ _2\"></span>tware purchased fr<span class=\"_ _0\"></span>om third par<span class=\"_ _2\"></span>ties and<span class=\"_ _0\"></span> sof<span class=\"_ _2\"></span>tware licence cost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> for the development and<span class=\"_ _0\"></span> implementat<span class=\"_ _2\"></span>ion o<span class=\"_ _0\"></span>f sys<span class=\"_ _2\"></span>tems<span class=\"_ _0\"></span> which enhance the services provided by the Group<span class=\"_ _0\"></span>, are r<span class=\"_ _0\"></span>ecognised at cost and amort<span class=\"_ _2\"></span>ised on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line basis<span class=\"_ _0\"></span> over their estimated useful economic lives<span class=\"_ _0\"></span> of three to<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>ive years. The<span class=\"_ _0\"></span> SwapClear int<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>ible a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed at co<span class=\"_ _2\"></span>st an<span class=\"_ _2\"></span>d amo<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d on a str<span class=\"_ _2\"></span>aight-line basis o<span class=\"_ _0\"></span>ver its es<span class=\"_ _2\"></span>timated<span class=\"_ _0\"></span> useful economic life of 1<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Contract costs<span class=\"_ _314\"> </span>Incremental costs of obtaining a c<span class=\"_ _0\"></span>us<span class=\"_ _2\"></span>tomer<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>t, such as sales commissions paid t<span class=\"_ _0\"></span>o employees, are<span class=\"_ _0\"></span> recognised as an intangible as<span class=\"_ _2\"></span>set if t<span class=\"_ _2\"></span>he be<span class=\"_ _2\"></span>nef<span class=\"_ _2\"></span>it of s<span class=\"_ _2\"></span>uch cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s is exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted to b<span class=\"_ _2\"></span>e long<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>an one<span class=\"_ _2\"></span> yea<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>. The a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t is ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t and is a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ised o<span class=\"_ _2\"></span>ver the period that a customer benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> from the associated soft<span class=\"_ _2\"></span>ware technology suppor<span class=\"_ _2\"></span>ting the underlying product or ser<span class=\"_ _2\"></span>vice. The<span class=\"_ _0\"></span> Gro<span class=\"_ _2\"></span>up has e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imat<span class=\"_ _2\"></span>ed th<span class=\"_ _2\"></span>is to be b<span class=\"_ _2\"></span>etw<span class=\"_ _2\"></span>een t<span class=\"_ _2\"></span>hree a<span class=\"_ _2\"></span>nd f<span class=\"_ _2\"></span>ive ye<span class=\"_ _2\"></span>ars<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>ecognises the incremental cost of<span class=\"_ _0\"></span> obtaining a contrac<span class=\"_ _2\"></span>t as an e<span class=\"_ _0\"></span>xpense when incurred, if the amort<span class=\"_ _2\"></span>isation period is less than one year<span class=\"_ _3\"></span>.<span class=\"_ _314\"> </span>Impairment of intangible assets, including goodwill<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> is tested for<span class=\"_ _0\"></span> impairment annually.<span class=\"_ _0\"></span> Any goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span> impairment is determined<span class=\"_ _0\"></span> by assessing the recov<span class=\"_ _0\"></span>erable amount of<span class=\"_ _314\"> </span> eac<span class=\"_ _2\"></span>h CGU. W<span class=\"_ _2\"></span>hen t<span class=\"_ _2\"></span>he reco<span class=\"_ _2\"></span>vera<span class=\"_ _2\"></span>ble am<span class=\"_ _2\"></span>ount o<span class=\"_ _2\"></span>f the CG<span class=\"_ _2\"></span>U is le<span class=\"_ _2\"></span>ss t<span class=\"_ _2\"></span>han<span class=\"_ _314\"> </span> it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> an impairment loss is rec<span class=\"_ _0\"></span>ognised<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Impairmen<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span> losses relating t<span class=\"_ _0\"></span>o goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> cannot be reversed in<span class=\"_ _0\"></span> future periods.<span class=\"_ _314\"> </span>Intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are assessed for any<span class=\"_ _0\"></span> indicators of impairment at<span class=\"_ _314\"> </span> each balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> If any indication exist<span class=\"_ _2\"></span>s, or<span class=\"_ _0\"></span> when annual<span class=\"_ _314\"> </span> impairment testing for an<span class=\"_ _0\"></span> asset is required, the<span class=\"_ _0\"></span> Group est<span class=\"_ _2\"></span>imat<span class=\"_ _0\"></span>es<span class=\"_ _314\"> </span> the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. Where it is not<span class=\"_ _0\"></span> possible to<span class=\"_ _314\"> </span> estimate the recoverable amount<span class=\"_ _0\"></span> of an individual asset, the<span class=\"_ _314\"> </span> Group estimates the reco<span class=\"_ _0\"></span>verable amount of the CGU<span class=\"_ _0\"></span> to which<span class=\"_ _314\"> </span> the asset belongs.<span class=\"_ _314\"> </span>An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount<span class=\"_ _314\"> </span> of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span> losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>,<span class=\"_ _314\"> </span> amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated<span class=\"_ _314\"> </span> f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span> CGU and then t<span class=\"_ _0\"></span>o reduce the carry<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> the other assets<span class=\"_ _314\"> </span> in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Useful ec<span class=\"_ _0\"></span>onomic life and<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tisation<span class=\"_ _0\"></span> method<span class=\"_ _314\"> </span>The useful economic<span class=\"_ _0\"></span> life and amorti<span class=\"_ _2\"></span>sation method of<span class=\"_ _0\"></span> intangible as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are rev<span class=\"_ _2\"></span>iewe<span class=\"_ _2\"></span>d at eac<span class=\"_ _2\"></span>h balan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et date. I<span class=\"_ _2\"></span>f th<span class=\"_ _2\"></span>ere has b<span class=\"_ _2\"></span>een a cha<span class=\"_ _2\"></span>nge in t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted u<span class=\"_ _2\"></span>sefu<span class=\"_ _2\"></span>l econ<span class=\"_ _2\"></span>omic l<span class=\"_ _2\"></span>ife or t<span class=\"_ _2\"></span>he exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted pat<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>rn of co<span class=\"_ _2\"></span>nsump<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of fu<span class=\"_ _2\"></span>ture e<span class=\"_ _2\"></span>conom<span class=\"_ _2\"></span>ic be<span class=\"_ _2\"></span>nef<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s emb<span class=\"_ _2\"></span>odie<span class=\"_ _2\"></span>d by an a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>, t<span class=\"_ _2\"></span>hen th<span class=\"_ _2\"></span>e usef<span class=\"_ _2\"></span>ul eco<span class=\"_ _2\"></span>nom<span class=\"_ _2\"></span>ic life o<span class=\"_ _2\"></span>r amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>isa<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n met<span class=\"_ _2\"></span>hod is changed<span class=\"_ _0\"></span> accordingly<span class=\"_ _314\"> </span><span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>The Group considers the f<span class=\"_ _0\"></span>ollowing indicators, as a minimum, th<span class=\"_ _2\"></span>at may sh<span class=\"_ _2\"></span>ow th<span class=\"_ _2\"></span>at th<span class=\"_ _2\"></span>e usef<span class=\"_ _2\"></span>ul eco<span class=\"_ _2\"></span>nomi<span class=\"_ _2\"></span>c life or a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>isat<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span> met<span class=\"_ _2\"></span>hod o<span class=\"_ _2\"></span>f an ass<span class=\"_ _2\"></span>et may re<span class=\"_ _2\"></span>quire a c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether there have<span class=\"_ _0\"></span> been any changes to<span class=\"_ _0\"></span> legal, regulatory </span>or contractual pro<span class=\"_ _0\"></span>visions. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether there has been an<span class=\"_ _0\"></span>y experience in r<span class=\"_ _0\"></span>enewing or </span>extending related lic<span class=\"_ _0\"></span>ensing agreements. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Whether the effec<span class=\"_ _2\"></span>ts of obsolescence<span class=\"_ _0\"></span>, demand, competition </span>or maintenanc<span class=\"_ _0\"></span>e may impact the life of<span class=\"_ _0\"></span> the asset. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The expected future per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance of the business r<span class=\"_ _0\"></span>elated </span>to th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">For purchased customer and<span class=\"_ _0\"></span> supplier relationship assets, </span>th<span class=\"_ _2\"></span>e at<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>iti<span class=\"_ _2\"></span>on rat<span class=\"_ _2\"></span>e of cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>rs ve<span class=\"_ _2\"></span>rsu<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d at<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ion ra<span class=\"_ _2\"></span>tes set o<span class=\"_ _2\"></span>ut at a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion.<span class=\"_ _314\"> </span> <span class=\"_ _2\"></span>Significant accounting estimates and<span class=\"_ _0\"></span> assumptions<span class=\"_ _314\"> </span>Recov<span class=\"_ _0\"></span>erable amounts of certain CGUs<span class=\"_ _314\"> </span>The reco<span class=\"_ _0\"></span>verable amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of CGUs are<span class=\"_ _0\"></span> based on value-<span class=\"_ _2\"></span>in-<span class=\"_ _2\"></span>use calculations<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The value<span class=\"_ _2\"></span>-in<span class=\"_ _2\"></span>-use calculations use cash flow project<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> based on business plans prepar<span class=\"_ _0\"></span>ed by management for the three-year period ending 31 December<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>8. In assessing value-<span class=\"_ _2\"></span>in-<span class=\"_ _2\"></span>use,<span class=\"_ _0\"></span> the est<span class=\"_ _2\"></span>imated<span class=\"_ _0\"></span> future cash flow<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are discounted to th<span class=\"_ _2\"></span>eir pr<span class=\"_ _2\"></span>esen<span class=\"_ _2\"></span>t valu<span class=\"_ _2\"></span>e usin<span class=\"_ _2\"></span>g a pre<span class=\"_ _2\"></span>-t<span class=\"_ _2\"></span>ax di<span class=\"_ _2\"></span>scoun<span class=\"_ _2\"></span>t rate t<span class=\"_ _2\"></span>hat ref<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ts current mark<span class=\"_ _0\"></span>et assessment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the time value of<span class=\"_ _0\"></span> money and the ri<span class=\"_ _2\"></span>sks sp<span class=\"_ _2\"></span>eci<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>c to the C<span class=\"_ _2\"></span>GUs<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Estimated useful economic lives of<span class=\"_ _0\"></span> material purchased intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are amor<span class=\"_ _2\"></span>tised over<span class=\"_ _0\"></span> their estimated useful economic lives, being m<span class=\"_ _0\"></span>anagement<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>s best est<span class=\"_ _2\"></span>imat<span class=\"_ _0\"></span>e of the period over which<span class=\"_ _0\"></span> value from the intangible assets is realised. In determining use<span class=\"_ _0\"></span>ful economic life f<span class=\"_ _0\"></span>or customer and supplier relationships,<span class=\"_ _0\"></span> brands and databases<span class=\"_ _0\"></span> and content, man<span class=\"_ _0\"></span>agement considers a number o<span class=\"_ _0\"></span>f fac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> including: customer att<span class=\"_ _2\"></span>rition rates; market<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>ticipant perspec<span class=\"_ _2\"></span>tives of brands; and<span class=\"_ _0\"></span> pace of ch<span class=\"_ _0\"></span>ange of regulation.<span class=\"_ _314\"> </span><table class=\"s w460 h253\" id=\"_ba6dde85-5dd0-47ea-8ea7-1c2ae354e645\"><tr><td></td><td></td><td></td><td></td><td class=\"t m2 x767 h13 y2223 ff72 fs6 fc1 sc0 lse5 ws75\">Purchased intangible assets<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td class=\"t m2 x768 h13 y2224 ff72 fs6 fc1 sc0 ls110 ws183\">Soft<span class=\"_ _2\"></span>ware, </td><td class=\"t m2 x6cf h13 y2224 ff72 fs6 fc1 sc0 ls110 ws183\">Soft<span class=\"_ _2\"></span>ware, </td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x769 h13 y2225 ff72 fs6 fc1 sc0 ls27 ws43\">Customer and<span class=\"_ _0\"></span> </td><td></td><td></td><td class=\"t m2 x76a h13 y2225 ff72 fs6 fc1 sc0 ls94 ws125\">licen<span class=\"_ _2\"></span>ces and </td><td class=\"t m2 x76b h13 y2225 ff72 fs6 fc1 sc0 ls12 ws81\">contract </td><td></td></tr><tr><td></td><td></td><td class=\"t m2 x76c h13 y2226 ff72 fs6 fc1 sc0 lse5 ws125\">supplier </td><td></td><td class=\"t m2 x76d h13 y2226 ff72 fs6 fc1 sc0 ls12 ws81\">Databases </td><td class=\"t m2 x25d h13 y2226 ff72 fs6 fc1 sc0 lse5 ws125\">intellectual </td><td class=\"t m2 x6cf h13 y2226 ff72 fs6 fc1 sc0 ls26 ws3\">cos<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>nd </td><td></td></tr><tr><td></td><td class=\"t m2 x76e h13 y2227 ff72 fs6 fc1 sc0 ls77 wsa0\">Goodwill<span class=\"_ _314\"> </span></td><td class=\"c n x76f y2228 w461 h21b\"><div class=\"t m2 x1e4 h13 y20af ff72 fs6 fc1 sc0 lse5 ws125\">relationships<span class=\"_ _314\"> </span></div></td><td class=\"c n x770 y2228 w462 h21b\"><div class=\"t m2 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls110 ws183\">B<span class=\"_ _2\"></span>rands<span class=\"_ _314\"> </span></div></td><td class=\"t m2 x771 h13 y2227 ff72 fs6 fc1 sc0 ls27 ws43\">and cont<span class=\"_ _0\"></span>ent<span class=\"_ _314\"> </span></td><td class=\"t m2 x772 h13 y2227 ff72 fs6 fc1 sc0 ls27 ws45\">propert<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></td><td class=\"c n x759 y2228 w463 h21b\"><div class=\"t m2 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls12 ws81\">other<span class=\"_ _314\"> </span></div></td><td class=\"c n x773 y2228 w464 h21b\"><div class=\"t m2 x1e4 h13 y20af ff72 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x47b y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x774 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x775 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x776 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x777 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x778 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x779 y2229 w34 h225\"><div class=\"t m2 x1e4 h13 y2131 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h187 y222a ff72 fs129 fc1 sc0 ls6d ws97\">Cost<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y222b w12c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x77a y222b w465 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls72 ws9b\">19<span class=\"_ _2\"></span>,276<span class=\"_ _314\"> </span></div></td><td class=\"c n x77b y222b w466 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">9,66<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x77c y222b w467 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">1,998<span class=\"_ _314\"> </span></div></td><td class=\"c n x77d y222b w468 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">2,5<span class=\"_ _0\"></span>80<span class=\"_ _314\"> </span></div></td><td class=\"c n x77e y222b w469 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa7 wsd3\">857<span class=\"_ _314\"> </span></div></td><td class=\"c n x77f y222b w46a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">4,860<span class=\"_ _314\"> </span></div></td><td class=\"c n x780 y222b w46b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">39,<span class=\"_ _2\"></span>239<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y222c w46c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Intangible assets acquired<span class=\"_ _0\"></span> on acquisition of<span class=\"_ _0\"></span> subsidiaries<span class=\"_ _314\"> </span></div></td><td class=\"c n x781 y222c w46d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7e wsaa\">258<span class=\"_ _314\"> </span></div></td><td class=\"c n x782 y222c w46e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">3<span class=\"_ _2\"></span>07<span class=\"_ _314\"> </span></div></td><td class=\"c n x783 y222c w3c1 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x516 y222c w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x784 y222c w46f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">146<span class=\"_ _314\"> </span></div></td><td class=\"c n x785 y222c w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x786 y222c w392 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">714<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y222d w470 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Additions<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ff y222d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x787 y222d w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x788 y222d w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x789 y222d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x78a y222d w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x3b1 y222d w471 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">93<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n x78b y222d w472 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls95 wsc2\">934<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y222e w473 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposal of<span class=\"_ _0\"></span> business<span class=\"_ _314\"> </span></div></td><td class=\"c n x78c y222e w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x78d y222e w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x78e y222e w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x78f y222e w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x790 y222e w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x791 y222e w474 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsac wsd7\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x792 y222e w407 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsac wsd7\">(<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y222f w475 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td class=\"c n x793 y222f w135 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x794 y222f w476 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls70 ws76\">(10)<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y222f w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y222f w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y222f w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x795 y222f w477 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">(<span class=\"_ _2\"></span>429)<span class=\"_ _314\"> </span></div></td><td class=\"c n x796 y222f w478 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>39)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2230 w1fa h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x797 y2230 w479 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsee ws55\">164<span class=\"_ _314\"> </span></div></td><td class=\"c n x798 y2230 w47a h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls70 ws76\">172<span class=\"_ _314\"> </span></div></td><td class=\"c n x799 y2230 w19d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wsda\">33<span class=\"_ _314\"> </span></div></td><td class=\"c n x79a y2230 w47b h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _314\"> </span></div></td><td class=\"c n x79b y2230 w210 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x79c y2230 w47c h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa9 ws7e\">(31)<span class=\"_ _314\"> </span></div></td><td class=\"c n x79d y2230 w400 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">399<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2231 w15d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x79e y2231 w47d h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6f ws99\">19,69<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x79f y2231 w47e h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>37<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a0 y2231 w47f h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">2,034<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a1 y2231 w480 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls61 ws86\">2,629<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a2 y2231 w481 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6f ws99\">1,015<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a3 y2231 w482 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">5,<span class=\"_ _2\"></span>331<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a4 y2231 w483 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">40,8<span class=\"_ _2\"></span>44<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2232 w484 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Additions</div><div class=\"t m2 x7a5 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2233 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2233 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2233 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2233 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2233 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ab y2233 w485 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">863<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ac y2233 w485 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">863<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2234 w486 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Additions to<span class=\"_ _0\"></span> SwapClear intangible asset</div><div class=\"t m2 x7ad h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2235 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2235 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2235 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2235 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2235 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ae y2235 w487 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>71<span class=\"_ _314\"> </span></div></td><td class=\"c n x7af y2235 w487 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,17<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2236 w488 h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other</div><div class=\"t m2 x7b0 h194 y20c0 ff71 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2237 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2237 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2237 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2237 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2237 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b1 y2237 w489 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">(116)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b2 y2237 w48a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>16)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2238 w1fa h21d\"><div class=\"t m2 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2238 w48b h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">(980)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b3 y2238 w48c h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d ws97\">(679)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b4 y2238 w48d h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(128<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b5 y2238 w167 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(188)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b6 y2238 w48e h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>5)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b7 y2238 w48f h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(<span class=\"_ _2\"></span>73)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b8 y2238 w490 h21d\"><div class=\"t m2 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(2,093)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2239 w186 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x7b9 y2239 w491 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls8 ws5\">18,7<span class=\"_ _0\"></span>18<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ba y2239 w492 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>458<span class=\"_ _314\"> </span></div></td><td class=\"c n x7bb y2239 w493 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa8 wsd5\">1<span class=\"_ _2\"></span>,906<span class=\"_ _314\"> </span></div></td><td class=\"c n x7bc y2239 w494 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa3 wsce\">2,<span class=\"_ _2\"></span>441<span class=\"_ _314\"> </span></div></td><td class=\"c n x7bd y2239 w495 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6a ws1\">9<span class=\"_ _2\"></span>70<span class=\"_ _314\"> </span></div></td><td class=\"c n x7be y2239 w496 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x7bf y2239 w497 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls67 ws61\">4<span class=\"_ _2\"></span>0,669<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h187 y223a ff72 fs129 fc1 sc0 ls6d wsd4\">Accumulated<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tisation and<span class=\"_ _0\"></span> impairment<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y223b w12c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c0 y223b w13c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">30<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c1 y223b w498 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">2,1<span class=\"_ _2\"></span>66<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c2 y223b w43c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6f ws99\">693<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c3 y223b w499 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">687<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c4 y223b w18f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c5 y223b w49a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">2,1<span class=\"_ _2\"></span>43<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c6 y223b w49b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">6<span class=\"_ _2\"></span>,092<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y223c w49c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Amor<span class=\"_ _2\"></span>tisation<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c7 y223c w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c8 y223c w49d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb0 wsdb\">607<span class=\"_ _314\"> </span></div></td><td class=\"c n x7c9 y223c w3c5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6e ws98\">145<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ca y223c w49e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">223<span class=\"_ _314\"> </span></div></td><td class=\"c n x7cb y223c w49f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsea ws113\">73<span class=\"_ _314\"> </span></div></td><td class=\"c n x7cc y223c w4a0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">903<span class=\"_ _314\"> </span></div></td><td class=\"c n x7cd y223c w4a1 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,9<span class=\"_ _2\"></span>51<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y223d w4a2 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Impairment<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ce y223d w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7cf y223d w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d0 y223d w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d1 y223d w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d2 y223d w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d3 y223d w4a3 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">216<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d4 y223d w4a4 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">216<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y223e w473 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposal of<span class=\"_ _0\"></span> business<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d5 y223e w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d6 y223e w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d7 y223e w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d8 y223e w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7d9 y223e w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7da y223e w31d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7db y223e w31d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y223f w475 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td class=\"c n x793 y223f w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x794 y223f w476 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">(10)<span class=\"_ _314\"> </span></div></td><td class=\"c n x43f y223f w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x440 y223f w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x444 y223f w6a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7dc y223f w4a5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb9 wse9\">(<span class=\"_ _2\"></span>424<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7dd y223f w4a6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">(434)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2240 w1fa h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x7de y2240 w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7df y2240 w340 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsba wsea\">40<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e0 y2240 wdc h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">14<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e1 y2240 wf9 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e2 y2240 w38b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e3 y2240 w2b8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">(23)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e4 y2240 w4a7 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2241 w15d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e5 y2241 w13c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsab wsd4\">30<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e6 y2241 w4a8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,8<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e7 y2241 wec h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws1\">8<span class=\"_ _2\"></span>52<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e8 y2241 w4a9 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">927<span class=\"_ _314\"> </span></div></td><td class=\"c n x7e9 y2241 w18e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb8 wse8\">4<span class=\"_ _2\"></span>48<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ea y2241 w60 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>814<span class=\"_ _314\"> </span></div></td><td class=\"c n x7eb y2241 w4aa h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2243 w4ab h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Amor<span class=\"_ _2\"></span>tisation</div><div class=\"t m2 x7ec h194 y2242 ff71 fs12a fc1 sc0 ls113 ws188\">2,4<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2244 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ed y2244 w4ac h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">601<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ee y2244 w4ad h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ef y2244 w4ae h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">216<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f0 y2244 w4af h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls72 ws9b\">76<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f1 y2244 w427 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6f ws99\">939<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f2 y2244 w4b0 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsee ws55\">1,973<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2245 w4b1 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Impairment</div><div class=\"t m2 x7f3 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2246 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2246 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2246 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2246 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2246 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f4 y2246 w4b2 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f5 y2246 w4b2 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2247 w488 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other</div><div class=\"t m2 x7b0 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a6 y2248 w135 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a7 y2248 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a8 y2248 w6a h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7a9 y2248 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7aa y2248 w4f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f6 y2248 w4b3 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">(112)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f7 y2248 w4b3 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">(112)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2249 w1fa h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f8 y2249 wa0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7f9 y2249 w4b4 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">(1<span class=\"_ _2\"></span>82)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fa y2249 w4b5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">(5<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fb y2249 w4b6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws1\">(<span class=\"_ _2\"></span>70)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fc y2249 w3ec h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa7 wsd3\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fd y2249 w4b7 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa8 wsd5\">(30)<span class=\"_ _314\"> </span></div></td><td class=\"c n x7fe y2249 w4b8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb5 wse3\">(<span class=\"_ _2\"></span>351<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y224a w186 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x7ff y224a w4b9 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa7 wsd3\">29<span class=\"_ _314\"> </span></div></td><td class=\"c n x800 y224a w363 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">3<span class=\"_ _2\"></span>,222<span class=\"_ _314\"> </span></div></td><td class=\"c n x801 y224a w427 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6f ws99\">939<span class=\"_ _314\"> </span></div></td><td class=\"c n x802 y224a w4ba h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsee ws55\">1,073<span class=\"_ _314\"> </span></div></td><td class=\"c n x803 y224a w4bb h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsb5 wse3\">51<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n x804 y224a w4bc h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">3,<span class=\"_ _2\"></span>623<span class=\"_ _314\"> </span></div></td><td class=\"c n x805 y224a w4bd h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">9,<span class=\"_ _2\"></span>39<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y224b w4be h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k valu<span class=\"_ _2\"></span>es</div><div class=\"t m2 x806 h195 y210f ff72 fs12a fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y224c w186 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x807 y224c w4bf h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>8,689<span class=\"_ _314\"> </span></div></td><td class=\"c n x808 y224c w4c0 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">6,23<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x809 y224c w4c1 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">9<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td><td class=\"c n x80a y224c w4c2 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa8 wsd5\">1,368<span class=\"_ _314\"> </span></div></td><td class=\"c n x80b y224c w224 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">460<span class=\"_ _314\"> </span></div></td><td class=\"c n x80c y224c w4c3 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsad wsdc\">3,<span class=\"_ _2\"></span>553<span class=\"_ _314\"> </span></div></td><td class=\"c n x80d y224c wb5 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsee ws55\">31,273<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w15d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x79e y2069 w4c4 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">19,668<span class=\"_ _314\"> </span></div></td><td class=\"c n x80e y2069 w4c5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _1\"></span>3<span class=\"_ _1\"></span>3<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n x80f y2069 w4c6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n x810 y2069 w4c7 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls82 wsaf\">1<span class=\"_ _2\"></span>,702<span class=\"_ _314\"> </span></div></td><td class=\"c n x811 y2069 w4c8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">567<span class=\"_ _314\"> </span></div></td><td class=\"c n x812 y2069 w4c9 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls73 ws9c\">2<span class=\"_ _2\"></span>,51<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x813 y2069 w4ca h21e\"><div class=\"t m2 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls72 ws9b\">32,<span class=\"_ _2\"></span>970<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng th<span class=\"_ _2\"></span>e yea<span class=\"_ _2\"></span>r, cons<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion f<span class=\"_ _2\"></span>or ad<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>ns com<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>se<span class=\"_ _2\"></span>d \u00a3861 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a39<span class=\"_ _2\"></span>34 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on) in c<span class=\"_ _2\"></span>ash a<span class=\"_ _2\"></span>nd \u00a3<span class=\"_ _2\"></span>2 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (2024: ni<span class=\"_ _2\"></span>l) i<span class=\"_ _2\"></span>n accr<span class=\"_ _2\"></span>ual<span class=\"_ _2\"></span>s. T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup c<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d sal<span class=\"_ _2\"></span>es co<span class=\"_ _2\"></span>mmi<span class=\"_ _2\"></span>ssi<span class=\"_ _2\"></span>ons p<span class=\"_ _2\"></span>aid to e<span class=\"_ _2\"></span>mp<span class=\"_ _2\"></span>loye<span class=\"_ _2\"></span>es (co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s) of \u00a366 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a351 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>In O<span class=\"_ _2\"></span>cto<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup a<span class=\"_ _2\"></span>cqui<span class=\"_ _2\"></span>red a<span class=\"_ _2\"></span>n inc<span class=\"_ _2\"></span>reas<span class=\"_ _2\"></span>ed sh<span class=\"_ _2\"></span>are i<span class=\"_ _2\"></span>n the S<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>Cle<span class=\"_ _2\"></span>ar in<span class=\"_ _2\"></span>tan<span class=\"_ _2\"></span>gib<span class=\"_ _2\"></span>le as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>, for a t<span class=\"_ _2\"></span>ota<span class=\"_ _2\"></span>l con<span class=\"_ _2\"></span>sid<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of \u00a31<span class=\"_ _2\"></span>,17<span class=\"_ _2\"></span>1 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (of wh<span class=\"_ _2\"></span>ich \u00a3<span class=\"_ _2\"></span>921 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on wa<span class=\"_ _2\"></span>s pai<span class=\"_ _2\"></span>d in 2025 a<span class=\"_ _2\"></span>nd \u00a3<span class=\"_ _2\"></span>250 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on is p<span class=\"_ _2\"></span>aya<span class=\"_ _2\"></span>ble i<span class=\"_ _2\"></span>n 2026 (se<span class=\"_ _2\"></span>e not<span class=\"_ _2\"></span>e 15)<span class=\"_ _2\"></span>). Am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sat<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>n of \u00a31<span class=\"_ _2\"></span>9 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n has b<span class=\"_ _2\"></span>een c<span class=\"_ _2\"></span>harg<span class=\"_ _2\"></span>ed fo<span class=\"_ _2\"></span>r tw<span class=\"_ _2\"></span>o mon<span class=\"_ _2\"></span>ths s<span class=\"_ _2\"></span>inc<span class=\"_ _2\"></span>e ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>l reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on. S<span class=\"_ _2\"></span>ee n<span class=\"_ _2\"></span>ote 9.<span class=\"_ _2\"></span>2 for t<span class=\"_ _2\"></span>he ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k val<span class=\"_ _2\"></span>ue at 3<span class=\"_ _2\"></span>1 De<span class=\"_ _2\"></span>cem<span class=\"_ _2\"></span>ber 2025<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>3 <span class=\"_ _7\"> </span>D<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed d<span class=\"_ _2\"></span>isp<span class=\"_ _2\"></span>osa<span class=\"_ _2\"></span>ls an<span class=\"_ _2\"></span>d wr<span class=\"_ _2\"></span>ite<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>fs of a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h are n<span class=\"_ _2\"></span>o lon<span class=\"_ _2\"></span>ger i<span class=\"_ _2\"></span>n use of \u00a3<span class=\"_ _2\"></span>11<span class=\"_ _2\"></span>2 mill<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h nil n<span class=\"_ _2\"></span>et bo<span class=\"_ _2\"></span>ok va<span class=\"_ _2\"></span>lue (<span class=\"_ _2\"></span>2024: \u00a343<span class=\"_ _2\"></span>4 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n wi<span class=\"_ _2\"></span>th ni<span class=\"_ _2\"></span>l net b<span class=\"_ _2\"></span>ook v<span class=\"_ _2\"></span>alu<span class=\"_ _2\"></span>e).<span class=\"_ _314\"> </span>4 <span class=\"_ _7\"> </span>I<span class=\"_ _2\"></span>ncl<span class=\"_ _2\"></span>ude<span class=\"_ _2\"></span>s amo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tis<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on of c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s of \u00a3<span class=\"_ _2\"></span>51 mill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a349 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>5 <span class=\"_ _7\"> </span>Fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>g a revi<span class=\"_ _2\"></span>ew of s<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>tw<span class=\"_ _2\"></span>are a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>n the y<span class=\"_ _2\"></span>ear, th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d a \u00a312 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irm<span class=\"_ _2\"></span>ent c<span class=\"_ _2\"></span>har<span class=\"_ _2\"></span>ge (2024: \u00a3<span class=\"_ _2\"></span>21<span class=\"_ _2\"></span>6 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n) in re<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>n to ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s wi<span class=\"_ _2\"></span>th a re<span class=\"_ _2\"></span>cove<span class=\"_ _2\"></span>rab<span class=\"_ _2\"></span>le am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t les<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>n th<span class=\"_ _2\"></span>eir carr<span class=\"_ _2\"></span>ying value.<span class=\"_ _314\"> </span>6 <span class=\"_ _7\"> </span>At 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er 2025, s<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware<span class=\"_ _2\"></span>, con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct c<span class=\"_ _2\"></span>os<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d ot<span class=\"_ _2\"></span>her n<span class=\"_ _2\"></span>et bo<span class=\"_ _2\"></span>ok va<span class=\"_ _2\"></span>lue i<span class=\"_ _2\"></span>nclu<span class=\"_ _2\"></span>des<span class=\"_ _2\"></span>: <span class=\"_ _22e\"></span>\u2013 <span class=\"lsb\">Ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s not ye<span class=\"_ _2\"></span>t bro<span class=\"_ _2\"></span>ugh<span class=\"_ _2\"></span>t int<span class=\"_ _2\"></span>o use of \u00a3<span class=\"_ _2\"></span>57<span class=\"_ _2\"></span>3 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (2024: \u00a3<span class=\"_ _2\"></span>712 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on)<span class=\"_ _2\"></span>. No am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sat<span class=\"_ _2\"></span>ion h<span class=\"_ _2\"></span>as be<span class=\"_ _2\"></span>en ch<span class=\"_ _2\"></span>arg<span class=\"_ _2\"></span>ed on t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s and i<span class=\"_ _2\"></span>ns<span class=\"_ _2\"></span>tead t<span class=\"_ _2\"></span>hey a<span class=\"_ _2\"></span>re as<span class=\"_ _2\"></span>ses<span class=\"_ _2\"></span>sed f<span class=\"_ _2\"></span>or in<span class=\"_ _2\"></span>dic<span class=\"_ _2\"></span>ato<span class=\"_ _2\"></span>rs of i<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irm<span class=\"_ _2\"></span>ent a<span class=\"_ _2\"></span>nnu<span class=\"_ _2\"></span>all<span class=\"_ _2\"></span>y.</span> <span class=\"_ _22e\"></span>\u2013 <span class=\"lsb\">Cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct c<span class=\"_ _2\"></span>ost<span class=\"_ _2\"></span>s of \u00a3<span class=\"_ _2\"></span>93 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on (2024: \u00a3<span class=\"_ _2\"></span>80 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></span><div class=\"t m0 h4 ff72 fs1 fc2 sc0 ls4 ws2b gs324\">9.<span class=\"_ _0\"></span>1 Goodwill<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 lsc ws7 gs325\">During the year<span class=\"_ _0\"></span>, f<span class=\"_ _0\"></span>ollowing the change in reporting s<span class=\"_ _2\"></span>tructure (see not<span class=\"_ _0\"></span>e 2), the Group<span class=\"_ _0\"></span> reassessed it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> CGUs and concluded that the pr<span class=\"_ _0\"></span>eviousl<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ted:</div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs326\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Ca<span class=\"_ _2\"></span>pit<span class=\"_ _2\"></span>al Ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s, excl<span class=\"_ _2\"></span>udin<span class=\"_ _2\"></span>g T<span class=\"_ _0\"></span>rad<span class=\"_ _2\"></span>eweb CG<span class=\"_ _2\"></span>U shou<span class=\"_ _2\"></span>ld be re<span class=\"_ _2\"></span>orga<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d into t<span class=\"_ _2\"></span>wo ne<span class=\"_ _2\"></span>w CGUs<span class=\"_ _2\"></span>: Digi<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>l &amp; Secu<span class=\"_ _2\"></span>rit<span class=\"_ _2\"></span>ies M<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s an<span class=\"_ _2\"></span>d FX<span class=\"_ _2\"></span>; and</span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls4 ws3 gs327\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Pos<span class=\"_ _2\"></span>t T<span class=\"_ _0\"></span>rad<span class=\"_ _2\"></span>e CGU sh<span class=\"_ _2\"></span>oul<span class=\"_ _2\"></span>d be reo<span class=\"_ _2\"></span>rgani<span class=\"_ _2\"></span>sed in<span class=\"_ _2\"></span>to four n<span class=\"_ _2\"></span>ew CGU<span class=\"_ _2\"></span>s: L<span class=\"_ _0\"></span>C<span class=\"_ _2\"></span>H Ltd, LCH S<span class=\"_ _2\"></span>A, P<span class=\"_ _2\"></span>ost Trade S<span class=\"_ _2\"></span>olu<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns and Re<span class=\"_ _2\"></span>gul<span class=\"_ _2\"></span>ator<span class=\"_ _2\"></span>y Rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng.<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs328\">The<span class=\"_ _2\"></span>re is no c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e to the o<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r CGUs<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs329\">Go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill i<span class=\"_ _2\"></span>s allo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to and m<span class=\"_ _2\"></span>oni<span class=\"_ _2\"></span>tored by m<span class=\"_ _2\"></span>anag<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>t at th<span class=\"_ _2\"></span>e level o<span class=\"_ _2\"></span>f the G<span class=\"_ _2\"></span>roup\u2019s CG<span class=\"_ _2\"></span>Us as s<span class=\"_ _2\"></span>et out b<span class=\"_ _2\"></span>elow<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span></div><div class=\"gs32a\"><table class=\"s w4d0 h255\" id=\"_acc89f6a-c9c7-4fa5-b380-85e0b173ebb0\"><tr><td></td><td></td><td></td><td class=\"t m0 x817 h13 y2258 ff72 fs6 fc1 sc0 ls26 ws3\">Ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k valu<span class=\"_ _2\"></span>e of go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x6d5 h13 y2259 ff72 fs6 fc1 sc0 lse5 ws125\">Foreign </td><td></td></tr><tr><td></td><td class=\"t m0 x818 hb y225a ff71 fs6 fc1 sc0 ls12 ws44\">1 January<span class=\"ls4 ws3\"> </span></td><td></td><td class=\"t m0 x819 h13 y225a ff72 fs6 fc1 sc0 ls27 ws45\">exchange<span class=\"_ _0\"></span> </td><td class=\"t m0 x81a h13 y225a ff72 fs6 fc1 sc0 ls27 ws43\">31 December </td></tr><tr><td></td><td class=\"t m0 x2cd hb y225b ff71 fs6 fc1 sc0 ls82 wseb\"> 2025<span class=\"_ _314\"> </span></td><td class=\"t m0 x817 h13 y225b ff72 fs6 fc1 sc0 ls27 ws45\">Reallocation<span class=\"_ _314\"> </span></td><td class=\"t m0 x2cf h13 y225b ff72 fs6 fc1 sc0 ls41 ws56\">translation<span class=\"_ _314\"> </span></td><td class=\"t m0 x81b h13 y225b ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x81c hb y225c ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 x772 h13 y225c ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 x81d h13 y225c ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 x25f h13 y225c ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y2070 w4d1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wscc\">Data<span class=\"_ _0\"></span> &amp; An<span class=\"_ _0\"></span>alytics<span class=\"_ _314\"> </span></div></td><td class=\"c n x81e y2070 w4d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsad wsdc\">6,671<span class=\"_ _314\"> </span></div></td><td class=\"c n x3ab y2070 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x81f y2070 w4d3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(285)<span class=\"_ _314\"> </span></div></td><td class=\"c n x820 y2070 w23e h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">6,<span class=\"_ _2\"></span>386<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y225d w4d4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws5\">FTSE Russell<span class=\"_ _314\"> </span></div></td><td class=\"c n x821 y225d w4d5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">5,49<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n x822 y225d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x823 y225d w2f2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls21 ws8a\">(247<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x824 y225d w4d6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa2 wscd\">5<span class=\"_ _2\"></span>,24<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2061 w4d7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Risk Intelligenc<span class=\"_ _0\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n x825 y2061 w4d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">1,660<span class=\"_ _314\"> </span></div></td><td class=\"c n x826 y2061 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x827 y2061 w222 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(53)<span class=\"_ _314\"> </span></div></td><td class=\"c n x828 y2061 w4d9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>,607<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2062 w4da h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Capital Markets, ex<span class=\"_ _0\"></span>cluding T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x829 y2062 w38b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x82a y2062 w1a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x82b y2062 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x82c y2062 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2189 w4db h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Digital &amp; Securities Markets<span class=\"_ _314\"> </span></div></td><td class=\"c n x82d y2189 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x82e y2189 w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x82f y2189 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x830 y2189 w4dc h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2072 w2b4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsbc wsed\">FX<span class=\"_ _314\"> </span></div></td><td class=\"c n x831 y2072 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x832 y2072 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x833 y2072 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x834 y2072 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2073 w4dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x835 y2073 w4de h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb9 wse9\">5<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>24<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td><td class=\"c n x836 y2073 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x837 y2073 w4df h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(<span class=\"_ _2\"></span>375)<span class=\"_ _314\"> </span></div></td><td class=\"c n x838 y2073 w4e0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls78 wse4\">4<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w4e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Post T<span class=\"_ _3\"></span>rade<span class=\"_ _314\"> </span></div></td><td class=\"c n x839 y214a w2d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">590<span class=\"_ _314\"> </span></div></td><td class=\"c n x83a y214a w4e2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls95 wsc2\">(590)<span class=\"_ _314\"> </span></div></td><td class=\"c n x83b y214a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x83c y214a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w4e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws76\">LCH Ltd<span class=\"_ _314\"> </span></div></td><td class=\"c n x83d y2066 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x83e y2066 w4e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">26<span class=\"_ _314\"> </span></div></td><td class=\"c n x83f y2066 w55 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x840 y2066 w177 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6e ws98\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w4e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaf ws17f\">LC<span class=\"_ _2\"></span>H S<span class=\"_ _2\"></span>A<span class=\"_ _314\"> </span></div></td><td class=\"c n x83d y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x83e y214c w4e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsb0 wsdb\">92<span class=\"_ _314\"> </span></div></td><td class=\"c n x841 y214c w4e7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n x842 y214c w4e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa9 ws7e\">96<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2075 w4e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Post T<span class=\"_ _3\"></span>rade Solutions<span class=\"_ _314\"> </span></div></td><td class=\"c n x843 y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x844 y2075 w1fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">472<span class=\"_ _314\"> </span></div></td><td class=\"c n x845 y2075 w4ea h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>24)<span class=\"_ _314\"> </span></div></td><td class=\"c n x846 y2075 wfe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls88 wsb4\">448<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w4eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6e ws96\">Regu<span class=\"_ _2\"></span>lator<span class=\"_ _2\"></span>y Repor<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng<span class=\"_ _314\"> </span></div></td><td class=\"c n x847 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x848 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x849 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x267 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x84a y2069 w4ec h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">19,66<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x84b y2069 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x84c y2069 w48c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d ws97\">(979)<span class=\"_ _314\"> </span></div></td><td class=\"c n x84d y2069 w4ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">18,68<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff72 fs1 fc1 sc0 ls51 ws73 gs32b\">Annual goodwill impairment<span class=\"_ _0\"></span> test<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs32c\">Go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill a<span class=\"_ _2\"></span>s at 30 S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2025 was te<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d for im<span class=\"_ _2\"></span>pair<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>. Fo<span class=\"_ _2\"></span>r each C<span class=\"_ _2\"></span>GU, t<span class=\"_ _2\"></span>he es<span class=\"_ _2\"></span>tim<span class=\"_ _2\"></span>ated re<span class=\"_ _2\"></span>cover<span class=\"_ _2\"></span>able a<span class=\"_ _2\"></span>moun<span class=\"_ _2\"></span>t was h<span class=\"_ _2\"></span>ighe<span class=\"_ _2\"></span>r than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g valu<span class=\"_ _2\"></span>e </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs32d\">(being the net book value<span class=\"_ _0\"></span>) and theref<span class=\"_ _0\"></span>ore no impairment was<span class=\"_ _0\"></span> ident<span class=\"_ _2\"></span>ified or recognised.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs32e\">The reco<span class=\"_ _0\"></span>verable amount of each<span class=\"_ _0\"></span> CGU was determined based<span class=\"_ _0\"></span> on value<span class=\"_ _2\"></span>-in-<span class=\"_ _2\"></span>use calculations. The value-in<span class=\"_ _2\"></span>-use calculations are based<span class=\"_ _0\"></span> on, and most </div><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls3 ws3 gs32f\">sen<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ive to<span class=\"_ _2\"></span>, the fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>ing key as<span class=\"_ _2\"></span>sum<span class=\"_ _2\"></span>ptio<span class=\"_ _2\"></span>ns:<span class=\"_ _314\"> </span></div><div class=\"gs330\"><table class=\"s w4cb h254\" id=\"_444297fd-1b4e-4436-8281-866f5b785789\"><tr><td class=\"c n x1eb y224d w4cc h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls41 ws56\">Assumption<span class=\"_ _314\"> </span></div></td><td class=\"c n x814 y224d w4cd h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls12 ws44\">Determination of assumption<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y224e ff71 fs129 fc1 sc0 ls6c ws7e\">Shor<span class=\"_ _2\"></span>t-<span class=\"_ _0\"></span> and medium-<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erm revenue </td><td class=\"t m0 x815 h193 y224e ff71 fs129 fc1 sc0 ls6c ws7e\">The short-term revenue<span class=\"_ _0\"></span> and cost growth assumptions are based<span class=\"_ _0\"></span> on the business plans pr<span class=\"_ _0\"></span>epared by man<span class=\"_ _0\"></span>agement </td></tr><tr><td class=\"t m0 x1e7 h193 y224f ff71 fs129 fc1 sc0 ls6a ws3\">an<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t grow<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>h<span class=\"_ _314\"> </span></td><td class=\"t m0 x815 h193 y224f ff71 fs129 fc1 sc0 ls6a ws3\">for t<span class=\"_ _2\"></span>he t<span class=\"_ _2\"></span>hree<span class=\"_ _2\"></span>-y<span class=\"_ _2\"></span>ear pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d end<span class=\"_ _2\"></span>ing 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 2028 and ex<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>nded b<span class=\"_ _2\"></span>y a fur<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>her t<span class=\"_ _2\"></span>hree y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s for tr<span class=\"_ _2\"></span>ende<span class=\"_ _2\"></span>d med<span class=\"_ _2\"></span>ium<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x815 h193 y2250 ff71 fs129 fc1 sc0 ls6c ws7e\">term gro<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>th. Business plans ar<span class=\"_ _0\"></span>e based on an<span class=\"_ _0\"></span> assessment of current<span class=\"_ _0\"></span> trends, anticipated marke<span class=\"_ _0\"></span>t and regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y </td></tr><tr><td></td><td class=\"t m0 x815 h193 y2251 ff71 fs129 fc1 sc0 ls89 wsda\">developments, discussions with customers and<span class=\"_ _0\"></span> suppliers and manage<span class=\"_ _0\"></span>ment<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>s experience<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x1e7 h193 y2252 ff71 fs129 fc1 sc0 ls89 wsda\">Long-term economic<span class=\"_ _0\"></span> grow<span class=\"_ _2\"></span>th rat<span class=\"_ _0\"></span>es </td><td class=\"t m0 x815 h193 y2252 ff71 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s beyo<span class=\"_ _2\"></span>nd an i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>ial t<span class=\"_ _2\"></span>hree<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>year p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d are ex<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>rap<span class=\"_ _2\"></span>olat<span class=\"_ _2\"></span>ed usi<span class=\"_ _2\"></span>ng a me<span class=\"_ _2\"></span>dium<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>term g<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>th r<span class=\"_ _2\"></span>ate (as d<span class=\"_ _2\"></span>isc<span class=\"_ _2\"></span>uss<span class=\"_ _2\"></span>ed </td></tr><tr><td class=\"t m0 x1e7 h193 y2253 ff71 fs129 fc1 sc0 ls6c ws7e\">(used t<span class=\"_ _0\"></span>o determine t<span class=\"_ _0\"></span>erminal values)<span class=\"_ _314\"> </span></td><td class=\"t m0 x815 h193 y2253 ff71 fs129 fc1 sc0 ls6a ws3\">ab<span class=\"_ _2\"></span>ove) for a f<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>ree ye<span class=\"_ _2\"></span>ars<span class=\"_ _2\"></span>. At wh<span class=\"_ _2\"></span>ich p<span class=\"_ _2\"></span>oint t<span class=\"_ _2\"></span>he ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s are ex<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>rap<span class=\"_ _2\"></span>olate<span class=\"_ _2\"></span>d usi<span class=\"_ _2\"></span>ng es<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>mate<span class=\"_ _2\"></span>d long<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>term g<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span> </td></tr><tr><td></td><td class=\"t m0 x815 h193 y2254 ff71 fs129 fc1 sc0 ls6a ws3\">ra<span class=\"_ _2\"></span>tes, w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h are ba<span class=\"_ _2\"></span>sed on e<span class=\"_ _2\"></span>xt<span class=\"_ _2\"></span>erna<span class=\"_ _2\"></span>l es<span class=\"_ _2\"></span>tim<span class=\"_ _2\"></span>ates of G<span class=\"_ _2\"></span>DP a<span class=\"_ _2\"></span>nd inf<span class=\"_ _2\"></span>la<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n.<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y2255 w4ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Pre-t<span class=\"_ _2\"></span>ax<span class=\"_ _0\"></span> discount rates<span class=\"_ _314\"> </span></div></td><td class=\"c n x816 y2255 w4cf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">Weig<span class=\"_ _2\"></span>hted a<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>age co<span class=\"_ _2\"></span>st of c<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal i<span class=\"_ _2\"></span>s dete<span class=\"_ _2\"></span>rmin<span class=\"_ _2\"></span>ed us<span class=\"_ _2\"></span>ing ma<span class=\"_ _2\"></span>rket r<span class=\"_ _2\"></span>isk-f<span class=\"_ _2\"></span>ree r<span class=\"_ _2\"></span>ates b<span class=\"_ _2\"></span>ase<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e yie<span class=\"_ _2\"></span>lds of g<span class=\"_ _2\"></span>over<span class=\"_ _2\"></span>nme<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x815 h193 y2256 ff71 fs129 fc1 sc0 ls6a ws3\">bo<span class=\"_ _2\"></span>nds m<span class=\"_ _2\"></span>ost re<span class=\"_ _2\"></span>lev<span class=\"_ _2\"></span>ant to t<span class=\"_ _2\"></span>he op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns of t<span class=\"_ _2\"></span>he CGU<span class=\"_ _2\"></span>, adju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d for co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y and op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal r<span class=\"_ _2\"></span>isk an<span class=\"_ _2\"></span>d the c<span class=\"_ _2\"></span>ost o<span class=\"_ _2\"></span>f </td></tr><tr><td></td><td class=\"t m0 x815 h193 y2257 ff71 fs129 fc1 sc0 ls6a ws3\">bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing fo<span class=\"_ _2\"></span>r the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p.<span class=\"_ _314\"> </span></td></tr></table></div>V<span class=\"_ _0\"></span>alue<span class=\"_ _2\"></span>-in<span class=\"_ _2\"></span>-use assumptions<span class=\"_ _314\"> </span><table class=\"s w4ee h256\" id=\"_fda7d12d-465e-4af8-9587-dbd15ed4b97d\"><tr><td></td><td></td><td class=\"c n x84e y225e w4ef h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls27 ws43\">Long-term gro<span class=\"_ _0\"></span>w<span class=\"_ _2\"></span>th rat<span class=\"_ _0\"></span>es<span class=\"_ _314\"> </span></div></td><td class=\"c n x84f y225e w4f0 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls12 ws44\">Pre-<span class=\"_ _2\"></span>tax disc<span class=\"_ _0\"></span>ount rates<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c n x850 y225f w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x851 y225f w32 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td><td class=\"c n x852 y225f w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x853 y225f w4f1 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x854 y2260 w4f2 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td><td class=\"c n x855 y2260 w4f3 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td><td class=\"c n x856 y2260 w4f2 h21b\"><div class=\"t m0 x1e4 hb y2047 ff72 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td><td class=\"c n x857 y2260 w4f4 h21b\"><div class=\"t m0 x1e4 hb y2047 ff71 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2072 w4d1 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa1 wscc\">Data<span class=\"_ _0\"></span> &amp; An<span class=\"_ _0\"></span>alytics<span class=\"_ _314\"> </span></div></td><td class=\"c n x858 y2072 w4f5 h21c\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls61 ws86\">4.0<span class=\"_ _314\"> </span></div></td><td class=\"c n x859 y2072 w4f6 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">4.0<span class=\"_ _314\"> </span></div></td><td class=\"c n x85a y2072 w4f7 h21c\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">11.<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x85b y2072 w4f8 h21c\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">11<span class=\"_ _2\"></span>.0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2073 w4d4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws5\">FTSE Russell<span class=\"_ _314\"> </span></div></td><td class=\"c n x85c y2073 w4f9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls96 wsc3\">3<span class=\"_ _2\"></span>.7<span class=\"_ _314\"> </span></div></td><td class=\"c n x85d y2073 w4fa h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">3.9<span class=\"_ _314\"> </span></div></td><td class=\"c n x85e y2073 w4fb h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb1 wsdd\">1<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x85f y2073 w4fc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">11<span class=\"_ _2\"></span>.8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w4d7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Risk Intelligenc<span class=\"_ _0\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n x860 y214a w4fd h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls96 wsc3\">3.7<span class=\"_ _314\"> </span></div></td><td class=\"c n x861 y214a w4fe h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">3.8<span class=\"_ _314\"> </span></div></td><td class=\"c n x862 y214a w4ff h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsb1 wsdd\">1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x863 y214a w8b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls67 ws61\">12.<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w4db h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Digital &amp; Securities Markets<span class=\"_ _314\"> </span></div></td><td class=\"c n x864 y2066 w500 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d ws97\">3<span class=\"_ _2\"></span>.4<span class=\"_ _314\"> </span></div></td><td class=\"c n x865 y2066 w501 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls58 wsb5\">3.7<span class=\"_ _314\"> </span></div></td><td class=\"c n x866 y2066 w4f5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls58 wsb5\">9.9<span class=\"_ _314\"> </span></div></td><td class=\"c n x867 y2066 w6f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa3 wsce\">9.1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w4dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x868 y214c w502 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">3.8<span class=\"_ _314\"> </span></div></td><td class=\"c n x869 y214c w503 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">4.0<span class=\"_ _314\"> </span></div></td><td class=\"c n x86a y214c w504 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls67 ws61\">1<span class=\"_ _2\"></span>0.4<span class=\"_ _314\"> </span></div></td><td class=\"c n x86b y214c w505 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>0.7<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w4e3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws76\">LCH Ltd<span class=\"_ _314\"> </span></div></td><td class=\"c n x86c y213e w506 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6d ws97\">3.4<span class=\"_ _314\"> </span></div></td><td class=\"c n x86d y213e w507 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td><td class=\"c n x86e y213e w508 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls39 ws0\">12<span class=\"_ _2\"></span>.6<span class=\"_ _314\"> </span></div></td><td class=\"c n x86f y213e w509 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N/A<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w4e5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaf ws17f\">LC<span class=\"_ _2\"></span>H S<span class=\"_ _2\"></span>A<span class=\"_ _314\"> </span></div></td><td class=\"c n x870 y2068 w502 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">3.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x871 y2068 w507 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td><td class=\"c n x872 y2068 w115 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls58 wsb5\">9.6<span class=\"_ _314\"> </span></div></td><td class=\"c n x59c y2068 w50a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w4e9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Post T<span class=\"_ _3\"></span>rade Solutions<span class=\"_ _314\"> </span></div></td><td class=\"c n x873 y2069 w50b h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsac wsd7\">3.8<span class=\"_ _314\"> </span></div></td><td class=\"c n x874 y2069 w509 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N/A<span class=\"_ _314\"> </span></div></td><td class=\"c n x875 y2069 w50c h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">8.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x876 y2069 w50a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td></tr></table>Sensitiv<span class=\"_ _2\"></span>ity analysis<span class=\"_ _314\"> </span>The e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imat<span class=\"_ _2\"></span>ed val<span class=\"_ _2\"></span>ue<span class=\"_ _2\"></span>-in<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>use of e<span class=\"_ _2\"></span>ach CG<span class=\"_ _2\"></span>U exceed<span class=\"_ _2\"></span>s it<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yi<span class=\"_ _2\"></span>ng val<span class=\"_ _2\"></span>ue. We do no<span class=\"_ _2\"></span>t expe<span class=\"_ _2\"></span>ct t<span class=\"_ _2\"></span>hat a re<span class=\"_ _2\"></span>ason<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>y pos<span class=\"_ _2\"></span>sibl<span class=\"_ _2\"></span>e or fore<span class=\"_ _2\"></span>seea<span class=\"_ _2\"></span>ble ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n the<span class=\"_ _2\"></span> as<span class=\"_ _2\"></span>sump<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>s in is<span class=\"_ _2\"></span>olat<span class=\"_ _2\"></span>ion wo<span class=\"_ _2\"></span>uld le<span class=\"_ _2\"></span>ad to an i<span class=\"_ _2\"></span>mpai<span class=\"_ _2\"></span>rmen<span class=\"_ _2\"></span>t los<span class=\"_ _2\"></span>s bein<span class=\"_ _2\"></span>g reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for al<span class=\"_ _2\"></span>l of th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s CG<span class=\"_ _2\"></span>Us. T<span class=\"_ _2\"></span>he Pos<span class=\"_ _2\"></span>t T<span class=\"_ _0\"></span>rad<span class=\"_ _2\"></span>e Sol<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ions CG<span class=\"_ _2\"></span>U is t<span class=\"_ _2\"></span>he onl<span class=\"_ _2\"></span>y CGU s<span class=\"_ _2\"></span>ensi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve to rela<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve chan<span class=\"_ _2\"></span>ges i<span class=\"_ _2\"></span>n the ma<span class=\"_ _2\"></span>in as<span class=\"_ _2\"></span>sump<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>s (cas<span class=\"_ _2\"></span>h fl<span class=\"_ _2\"></span>ows<span class=\"_ _2\"></span>, long<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>term g<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>th r<span class=\"_ _2\"></span>ate and p<span class=\"_ _2\"></span>re<span class=\"_ _2\"></span>-ta<span class=\"_ _2\"></span>x dis<span class=\"_ _2\"></span>count r<span class=\"_ _2\"></span>ate) w<span class=\"_ _2\"></span>hich<span class=\"_ _2\"></span>, in iso<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>ion, co<span class=\"_ _2\"></span>uld lead to<span class=\"_ _0\"></span> the value<span class=\"_ _2\"></span>-in-<span class=\"_ _2\"></span>use reducing<span class=\"_ _0\"></span> below the carr<span class=\"_ _2\"></span>ying amount. These changes, in isolation, ar<span class=\"_ _0\"></span>e: 29% r<span class=\"_ _0\"></span>educ<span class=\"_ _2\"></span>tion in t<span class=\"_ _0\"></span>erminal cash flow<span class=\"_ _2\"></span>s;<span class=\"_ _0\"></span> 2.2 percentage point reduction in the long-<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>erm grow<span class=\"_ _2\"></span>th rate<span class=\"_ _0\"></span>; and 2.<span class=\"_ _0\"></span>4 percentage point incr<span class=\"_ _0\"></span>ease in the pre-ta<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> discount rate. Changes<span class=\"_ _0\"></span> beyond those amounts would have l<span class=\"_ _2\"></span>ed to an i<span class=\"_ _2\"></span>mpai<span class=\"_ _2\"></span>rme<span class=\"_ _2\"></span>nt los<span class=\"_ _2\"></span>s bein<span class=\"_ _2\"></span>g reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r ende<span class=\"_ _2\"></span>d 31<span class=\"_ gsbf\"> </span>De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 2025. Th<span class=\"_ _2\"></span>is sen<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y ana<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>sis is p<span class=\"_ _2\"></span>repare<span class=\"_ _2\"></span>d on t<span class=\"_ _2\"></span>he bas<span class=\"_ _2\"></span>is tha<span class=\"_ _2\"></span>t any cha<span class=\"_ _2\"></span>nge in e<span class=\"_ _2\"></span>ach key as<span class=\"_ _2\"></span>sum<span class=\"_ _2\"></span>ptio<span class=\"_ _2\"></span>n woul<span class=\"_ _2\"></span>d not ha<span class=\"_ _2\"></span>ve a cons<span class=\"_ _2\"></span>equ<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>ial imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t on ot<span class=\"_ _2\"></span>her as<span class=\"_ _2\"></span>sum<span class=\"_ _2\"></span>ptio<span class=\"_ _2\"></span>ns us<span class=\"_ _2\"></span>ed.<span class=\"_ _314\"> </span>9.2 Material intangible assets<span class=\"_ _314\"> </span>The material<span class=\"_ _0\"></span> intangible asset<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e set out below:<span class=\"_ _314\"> </span><table class=\"s w50d h257\" id=\"_bac2c57c-536e-4094-9b67-a696ce268092\"><tr><td></td><td class=\"t m0 x877 h13 y2261 ff72 fs6 fc1 sc0 ls27 ws43\">Net book value<span class=\"_ _0\"></span> <span class=\"ls4 ws3\"> </span></td><td></td><td class=\"t m0 x878 h13 y2261 ff72 fs6 fc1 sc0 ls4 ws3\">Remaini<span class=\"_ _2\"></span>ng </td></tr><tr><td></td><td class=\"t m0 x768 h13 y2262 ff72 fs6 fc1 sc0 lse5 ws75\">of material <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td></td><td class=\"t m0 x81a h13 y2262 ff72 fs6 fc1 sc0 ls27 ws45\">amortisation </td></tr><tr><td></td><td class=\"t m0 x2d5 h13 y2263 ff72 fs6 fc1 sc0 lse5 ws75\">intangible assets<span class=\"_ _314\"> </span></td><td></td><td class=\"t m0 x879 h13 y2263 ff72 fs6 fc1 sc0 ls77 wsa0\">period<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"c n x87a y2264 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x87b y2264 w32 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c n x87c y2265 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x87d y2265 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x87e y2265 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2266 ff72 fs129 fc1 sc0 ls6d wsd4\">Customer and supplier relationships<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2070 w4e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">Refinit<span class=\"_ _2\"></span>iv<span class=\"_ _314\"> </span></div></td><td class=\"c n x87f y2070 w50e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa9 ws7e\">4,5<span class=\"_ _0\"></span>16<span class=\"_ _314\"> </span></div></td><td class=\"c n x880 y2070 w50f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">5,<span class=\"_ _2\"></span>303<span class=\"_ _314\"> </span></div></td><td class=\"c n x881 y2070 w510 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">11 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y225d w4dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x882 y225d w511 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">687<span class=\"_ _314\"> </span></div></td><td class=\"c n x883 y225d w512 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">8<span class=\"_ _2\"></span>23<span class=\"_ _314\"> </span></div></td><td class=\"c n x884 y225d w513 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 ws9a\">8<span class=\"_ _2\"></span>-15 ye<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b9 w514 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6d wsd4\">Frank Russell<span class=\"_ _314\"> </span></div></td><td class=\"c n x885 y21b9 w1fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">247<span class=\"_ _314\"> </span></div></td><td class=\"c n x886 y21b9 w515 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">28<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x887 y21b9 w516 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls91 ws9a\">9<span class=\"_ _2\"></span>-14<span class=\"_ _2\"></span> yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2062 w517 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls88 wsb4\">ICD<span class=\"_ _314\"> </span></div></td><td class=\"c n x888 y2062 w2ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls61 ws86\">229<span class=\"_ _314\"> </span></div></td><td class=\"c n x85a y2062 w518 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">26<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n x889 y2062 w519 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">14 ye<span class=\"_ _2\"></span>ars<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2189 w51a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa7 wsd3\">Acadia<span class=\"_ _314\"> </span></div></td><td class=\"c n x88a y2189 w51b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">195<span class=\"_ _314\"> </span></div></td><td class=\"c n x1f0 y2189 w49e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">223<span class=\"_ _314\"> </span></div></td><td class=\"c n x88b y2189 w51c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">1<span class=\"_ _2\"></span>5 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2267 ff72 fs129 fc1 sc0 ls7b wse0\">Brands<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2073 w4e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">Refinit<span class=\"_ _2\"></span>iv<span class=\"_ _314\"> </span></div></td><td class=\"c n x88c y2073 w51d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">331<span class=\"_ _314\"> </span></div></td><td class=\"c n x88d y2073 w51e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">4<span class=\"_ _2\"></span>49<span class=\"_ _314\"> </span></div></td><td class=\"c n x88e y2073 w51f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">1<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w514 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6d wsd4\">Frank Russell<span class=\"_ _314\"> </span></div></td><td class=\"c n x88f y214a w328 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsaa wsd6\">366<span class=\"_ _314\"> </span></div></td><td class=\"c n x890 y214a w520 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls73 ws9c\">422<span class=\"_ _314\"> </span></div></td><td class=\"c n x891 y214a w521 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">14 ye<span class=\"_ _2\"></span>ars<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w4dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _314\"> </span></div></td><td class=\"c n x892 y214b w522 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">134<span class=\"_ _314\"> </span></div></td><td class=\"c n x893 y214b w523 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">158<span class=\"_ _314\"> </span></div></td><td class=\"c n x298 y214b w51f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">1<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2268 ff72 fs129 fc1 sc0 ls76 ws5\">Databases and<span class=\"_ _0\"></span> content<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213e w4e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">Refinit<span class=\"_ _2\"></span>iv<span class=\"_ _314\"> </span></div></td><td class=\"c n x346 y213e w4c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa8 wsd5\">1,368<span class=\"_ _314\"> </span></div></td><td class=\"c n x894 y213e w524 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6f ws99\">1,693<span class=\"_ _314\"> </span></div></td><td class=\"c n x895 y213e w525 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls115 ws18a\">6<span class=\"_ _2\"></span>-7<span class=\"_ _2\"></span> ye<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w526 h258\"><div class=\"t m0 x1e4 h187 y2269 ff72 fs129 fc1 sc0 ls6d wsd4\">Soft<span class=\"_ _2\"></span>ware, c<span class=\"_ _0\"></span>ontrac<span class=\"_ _2\"></span>t c<span class=\"_ _0\"></span>ost<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws96\">SwapClear<span class=\"_ _314\"> </span></div></td><td class=\"c n x896 y2069 w527 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>57<span class=\"_ _314\"> </span></div></td><td class=\"c n x897 y2069 w50a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls79 wsab\">N<span class=\"_ _2\"></span>/A<span class=\"_ _314\"> </span></div></td><td class=\"c n x898 y2069 w51f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6a ws3\">1<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr></table>There ar<span class=\"_ _0\"></span>e no other individual intangible assets that are consider<span class=\"_ _0\"></span>ed material to<span class=\"_ _0\"></span> each class of<span class=\"_ _0\"></span> intangib<span class=\"_ _2\"></span>le<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>The balance sheet<span class=\"_ _0\"></span> includes signif<span class=\"_ _2\"></span>icant<span class=\"_ _0\"></span> intangible assets, mainly in rela<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n to good<span class=\"_ _2\"></span>will<span class=\"_ _2\"></span>, custo<span class=\"_ _2\"></span>mer and su<span class=\"_ _2\"></span>ppli<span class=\"_ _2\"></span>er rela<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>ships an<span class=\"_ _2\"></span>d intern<span class=\"_ _2\"></span>ally<span class=\"_ _2\"></span> devel<span class=\"_ _2\"></span>oped so<span class=\"_ _2\"></span>ft<span class=\"_ _2\"></span>wa<span class=\"_ _2\"></span>re. Goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll ari<span class=\"_ _2\"></span>ses when w<span class=\"_ _2\"></span>e acqui<span class=\"_ _2\"></span>re a busin<span class=\"_ _2\"></span>ess and<span class=\"_ _2\"></span> pa<span class=\"_ _2\"></span>y an amo<span class=\"_ _2\"></span>unt high<span class=\"_ _2\"></span>er tha<span class=\"_ _2\"></span>n the fa<span class=\"_ _2\"></span>ir valu<span class=\"_ _2\"></span>e of it<span class=\"_ _2\"></span>s net asse<span class=\"_ _2\"></span>ts pr<span class=\"_ _2\"></span>imari<span class=\"_ _2\"></span>ly due<span class=\"_ _2\"></span> to th<span class=\"_ _2\"></span>e syner<span class=\"_ _2\"></span>gies we e<span class=\"_ _2\"></span>xpec<span class=\"_ _2\"></span>t to crea<span class=\"_ _2\"></span>te. Goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll is not a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed but i<span class=\"_ _2\"></span>s subject t<span class=\"_ _0\"></span>o annual impairme<span class=\"_ _0\"></span>nt revie<span class=\"_ _0\"></span>ws<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Purchased<span class=\"_ _0\"></span> and other int<span class=\"_ _0\"></span>angible ass<span class=\"_ _2\"></span>ets are a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed over t<span class=\"_ _2\"></span>heir use<span class=\"_ _2\"></span>ful eco<span class=\"_ _2\"></span>nomic l<span class=\"_ _2\"></span>ives<span class=\"_ _2\"></span>.  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> arising on the acquisition of a<span class=\"_ _0\"></span> business is initially mea<span class=\"_ _2\"></span>sure<span class=\"_ _2\"></span>d at cos<span class=\"_ _2\"></span>t, b<span class=\"_ _2\"></span>eing t<span class=\"_ _2\"></span>he am<span class=\"_ _2\"></span>ount b<span class=\"_ _2\"></span>y whic<span class=\"_ _2\"></span>h the a<span class=\"_ _2\"></span>ggre<span class=\"_ _2\"></span>gate of<span class=\"_ _2\"></span> the consideration transferred and the amount r<span class=\"_ _0\"></span>ecognised for any non-<span class=\"_ _2\"></span>controlling inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ts (plus any pr<span class=\"_ _0\"></span>evious interest held), ex<span class=\"_ _0\"></span>ceeds the net identifiable asset<span class=\"_ _2\"></span>s acquir<span class=\"_ _0\"></span>ed and liabilities assumed.<span class=\"_ _314\"> </span>Af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r init<span class=\"_ _2\"></span>ial re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ion, g<span class=\"_ _2\"></span>ood<span class=\"_ _2\"></span>wil<span class=\"_ _2\"></span>l is mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t less a<span class=\"_ _2\"></span>ny accumulated<span class=\"_ _0\"></span> impairment losses. For the purpose of impairment testing, on the date o<span class=\"_ _0\"></span>f acquisition, goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> acquired in a<span class=\"_ _0\"></span> business com<span class=\"_ _2\"></span>bina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is all<span class=\"_ _2\"></span>ocat<span class=\"_ _2\"></span>ed to one o<span class=\"_ _2\"></span>r more o<span class=\"_ _2\"></span>f the G<span class=\"_ _2\"></span>roup\u2019s ca<span class=\"_ _2\"></span>sh<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span>gen<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g unit<span class=\"_ _2\"></span>s (CG<span class=\"_ _2\"></span>Us) t<span class=\"_ _2\"></span>hat are ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d to bene<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t fro<span class=\"_ _2\"></span>m the combination.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill ha<span class=\"_ _2\"></span>s bee<span class=\"_ _2\"></span>n allo<span class=\"_ _2\"></span>cate<span class=\"_ _2\"></span>d to a CGU an<span class=\"_ _2\"></span>d par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin t<span class=\"_ _2\"></span>hat uni<span class=\"_ _2\"></span>t is di<span class=\"_ _2\"></span>spo<span class=\"_ _2\"></span>sed of, t<span class=\"_ _2\"></span>he go<span class=\"_ _2\"></span>odw<span class=\"_ _2\"></span>ill a<span class=\"_ _2\"></span>ssoc<span class=\"_ _2\"></span>iate<span class=\"_ _2\"></span>d with the disposed operation is included in the carry<span class=\"_ _2\"></span>ing amount when determining its gain or<span class=\"_ _0\"></span> loss on disposal. Goodwill disposed in these circumstances is<span class=\"_ _0\"></span> measured based on the r<span class=\"_ _0\"></span>elative values of t<span class=\"_ _2\"></span>he dis<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion an<span class=\"_ _2\"></span>d the p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of t<span class=\"_ _2\"></span>he CGU re<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>ed.<span class=\"_ _314\"> </span>Purchased intangible assets<span class=\"_ _314\"> </span>Purchased intangible assets are initially rec<span class=\"_ _0\"></span>ognised at cost. The cost of<span class=\"_ _0\"></span> intangibl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s ac<span class=\"_ _0\"></span>quired in a business<span class=\"_ _0\"></span> combination is t<span class=\"_ _2\"></span>heir f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue at t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te of acq<span class=\"_ _2\"></span>uisi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n. Th<span class=\"_ _2\"></span>is is de<span class=\"_ _2\"></span>termi<span class=\"_ _2\"></span>ned using valuation methodologies such as<span class=\"_ _0\"></span> the mult<span class=\"_ _2\"></span>i-period excess earnings method or rel<span class=\"_ _0\"></span>ief from ro<span class=\"_ _0\"></span>yalt<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Following initial recognition, intangible assets are carried at cost less an<span class=\"_ _0\"></span>y accumulated amor<span class=\"_ _2\"></span>tisation and accumulat<span class=\"_ _0\"></span>ed impairment losses<span class=\"_ _314\"> </span>These assets are amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> as follows:<span class=\"_ _314\"> </span><table class=\"s w44a h251\" id=\"_56b4d1dd-c642-4770-b2b6-c6fe48868f1c\"><tr><td></td><td></td><td class=\"t m0 x74b hb y2215 ff71 fs6 fc1 sc0 ls7a wsbe\">Amor<span class=\"_ _2\"></span>tisation </td></tr><tr><td></td><td></td><td class=\"t m0 x74c hb y2216 ff71 fs6 fc1 sc0 ls27 ws43\">period or useful </td></tr><tr><td class=\"c n x1eb y2217 w44b h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lse0 ws110\">As<span class=\"_ _2\"></span>sets<span class=\"_ _314\"> </span></div></td><td class=\"c n x74d y2217 w44c h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsf1 wscc\">Amortisation<span class=\"_ _0\"></span> metho<span class=\"_ _0\"></span>d<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x74e hb y2218 ff71 fs6 fc1 sc0 ls27 ws43\">economic life<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x41d h193 y2219 ff71 fs129 fc1 sc0 ls6c ws7e\">Customer and supplier </td><td class=\"c n x74f y221a w44d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x750 y221a w44e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">5 t<span class=\"_ _2\"></span>o 25 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x41d h193 y221b ff71 fs129 fc1 sc0 ls76 ws9f\">relationships<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y219d w44f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws96\">Brands<span class=\"_ _314\"> </span></div></td><td class=\"c n x751 y219d w450 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x752 y219d w451 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">4 to 25 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w452 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Databases and c<span class=\"_ _0\"></span>ontent<span class=\"_ _314\"> </span></div></td><td class=\"c n x753 y219e w453 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">St<span class=\"_ _2\"></span>raight-line basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x754 y219e w454 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">5 t<span class=\"_ _2\"></span>o 12 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y221c w455 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls39 ws0\">Sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware<span class=\"_ _314\"> </span></div></td><td class=\"c n x755 y221c w456 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Straight-line basis or<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x756 h193 y221d ff71 fs129 fc1 sc0 ls6a ws3\">7 to 15 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x757 h193 y221e ff71 fs129 fc1 sc0 ls6c ws7e\">reducing balanc<span class=\"_ _0\"></span>e basis<span class=\"_ _314\"> </span></td><td></td></tr><tr><td class=\"c x1eb y2069 w457 h222\"><div class=\"t m0 x1e4 h193 y20d1 ff71 fs129 fc1 sc0 ls6c ws7e\">Licences<span class=\"_ _0\"></span> and<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">intellectual proper<span class=\"_ _2\"></span>ty<span class=\"_ _314\"> </span></div></td><td class=\"c n x74f y221f w44d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws5\">Straight-<span class=\"_ _2\"></span>line<span class=\"_ _0\"></span> basis<span class=\"_ _314\"> </span></div></td><td class=\"c n x758 y221f w458 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">3 to 25 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td></tr></table>Sof<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware, co<span class=\"_ _2\"></span>ntra<span class=\"_ _2\"></span>ct cos<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>nd othe<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>Sof<span class=\"_ _2\"></span>tware, contract cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> other comprises internally developed sof<span class=\"_ _2\"></span>tware, soft<span class=\"_ _2\"></span>ware<span class=\"_ _0\"></span> purchased from third parties, the SwapClear intangible asset and contract cost<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Sof<span class=\"_ _2\"></span>tware and other<span class=\"_ _314\"> </span>Exp<span class=\"_ _2\"></span>enditure<span class=\"_ _0\"></span> on internal product development, including expenditure relat<span class=\"_ _0\"></span>ed to cloud c<span class=\"_ _0\"></span>omput<span class=\"_ _2\"></span>ing arrangements, is capitalised if: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The costs can be reliably measur<span class=\"_ _0\"></span>ed</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The product or process is<span class=\"_ _0\"></span> technically and commercially<span class=\"_ _0\"></span> feasible</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Future economic<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its are probable</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The Group has<span class=\"_ _0\"></span> suf<span class=\"_ _2\"></span>ficient resources t<span class=\"_ _0\"></span>o complete the </span>development and t<span class=\"_ _0\"></span>o use or sell<span class=\"_ _0\"></span> the asset<span class=\"_ _314\"> </span>In<span class=\"_ _2\"></span>terna<span class=\"_ _2\"></span>lly d<span class=\"_ _2\"></span>evelo<span class=\"_ _2\"></span>ped s<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ware is i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y reco<span class=\"_ _2\"></span>rded a<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>t, w<span class=\"_ _2\"></span>hich includes labour<span class=\"_ _0\"></span>, directly at<span class=\"_ _2\"></span>tributable cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> any third-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y expenses. Following initial recognition, the asset is carried at<span class=\"_ _0\"></span> cost less any acc<span class=\"_ _0\"></span>umulated amor<span class=\"_ _2\"></span>tisation and accumulat<span class=\"_ _0\"></span>ed impairment losses. Amor<span class=\"_ _2\"></span>tisation of the asset begins when de<span class=\"_ _0\"></span>velopment is com<span class=\"_ _2\"></span>plete<span class=\"_ _2\"></span>, and t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et is av<span class=\"_ _2\"></span>aila<span class=\"_ _2\"></span>ble for u<span class=\"_ _2\"></span>se. Th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>ets a<span class=\"_ _2\"></span>re the<span class=\"_ _2\"></span>n amor<span class=\"_ _2\"></span>tised on a<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>traight-line basis over<span class=\"_ _0\"></span> their useful economic lives of t<span class=\"_ _2\"></span>hree to 12 y<span class=\"_ _2\"></span>ears<span class=\"_ _314\"> </span><span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIntangibleAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-528": {
   "value": "8. Div<span class=\"_ _2\"></span>idends<span class=\"_ _314\"> </span>We seek to rew<span class=\"_ _2\"></span>ard our sh<span class=\"_ _2\"></span>areho<span class=\"_ _2\"></span>lder<span class=\"_ _2\"></span>s thro<span class=\"_ _2\"></span>ugh th<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment of d<span class=\"_ _2\"></span>ivi<span class=\"_ _2\"></span>dends<span class=\"_ _2\"></span>. The in<span class=\"_ _2\"></span>terim di<span class=\"_ _2\"></span>vid<span class=\"_ _2\"></span>end is ge<span class=\"_ _2\"></span>neral<span class=\"_ _2\"></span>ly pai<span class=\"_ _2\"></span>d in Septe<span class=\"_ _2\"></span>mber a<span class=\"_ _2\"></span>nd the f<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>l di<span class=\"_ _2\"></span>viden<span class=\"_ _2\"></span>d in Ma<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><table class=\"s w459 h252\" id=\"_1cb41f22-6153-49cd-91d2-f0886c47d76d\"><tr><td></td><td class=\"c n x759 y2220 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x75a y2220 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x75b y21a8 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x75c y21a8 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w45a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Fi<span class=\"_ _2\"></span>nal di<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>den<span class=\"_ _2\"></span>d for th<span class=\"_ _2\"></span>e year e<span class=\"_ _2\"></span>nde<span class=\"_ _2\"></span>d 31 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 2023 p<span class=\"_ _2\"></span>aid 22 M<span class=\"_ _2\"></span>ay 202<span class=\"_ _0\"></span>4: 79<span class=\"_ _2\"></span>.3<span class=\"_ _2\"></span>p per o<span class=\"_ _2\"></span>rdin<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>re<span class=\"_ _314\"> </span></div></td><td class=\"c n x75d y2066 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x75e y2066 w45b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">425<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2221 ff71 fs129 fc1 sc0 ls6a ws3\">In<span class=\"_ _2\"></span>teri<span class=\"_ _2\"></span>m div<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>nd for t<span class=\"_ _2\"></span>he ye<span class=\"_ _2\"></span>ar end<span class=\"_ _2\"></span>ed 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4 pa<span class=\"_ _2\"></span>id 18 S<span class=\"_ _2\"></span>epte<span class=\"_ _2\"></span>mber 2024: 41<span class=\"_ _2\"></span>.0p p<span class=\"_ _2\"></span>er ord<span class=\"_ _2\"></span>inar<span class=\"_ _2\"></span>y s<span class=\"_ _2\"></span>hare<span class=\"_ _314\"> </span></td><td class=\"t m0 x75f h187 y2222 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></td><td class=\"t m0 x760 h193 y2221 ff71 fs129 fc1 sc0 ls70 ws76\">217<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y213e w45c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">Fi<span class=\"_ _2\"></span>nal di<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>den<span class=\"_ _2\"></span>d for th<span class=\"_ _2\"></span>e year e<span class=\"_ _2\"></span>nde<span class=\"_ _2\"></span>d 31 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 2024 paid 2<span class=\"_ _2\"></span>1 May 2025: 89<span class=\"_ _2\"></span>.0p p<span class=\"_ _2\"></span>er ord<span class=\"_ _2\"></span>inar<span class=\"_ _2\"></span>y s<span class=\"_ _2\"></span>hare<span class=\"_ _314\"> </span></div></td><td class=\"c n x761 y213e w45d h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls21 ws8a\">47<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x762 y213e w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w45e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">In<span class=\"_ _2\"></span>teri<span class=\"_ _2\"></span>m div<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>nd for t<span class=\"_ _2\"></span>he ye<span class=\"_ _2\"></span>ar end<span class=\"_ _2\"></span>ed 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 2025 paid 1<span class=\"_ _2\"></span>8 Sep<span class=\"_ _2\"></span>temb<span class=\"_ _2\"></span>er 2025: 47<span class=\"_ _0\"></span>.0p p<span class=\"_ _2\"></span>er ord<span class=\"_ _2\"></span>inar<span class=\"_ _2\"></span>y s<span class=\"_ _2\"></span>hare<span class=\"_ _314\"> </span></div></td><td class=\"c n x763 y2068 w1fc h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls21 ws8a\">247<span class=\"_ _314\"> </span></div></td><td class=\"c n x764 y2068 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x765 y2069 w45f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls89 ws79\">718<span class=\"_ _314\"> </span></div></td><td class=\"c n x766 y2069 w264 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">6<span class=\"_ _2\"></span>42<span class=\"_ _314\"> </span></div></td></tr></table>Dividend<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are only paid out o<span class=\"_ _0\"></span>f available distribu<span class=\"_ _2\"></span>table reserves of t<span class=\"_ _2\"></span>he Com<span class=\"_ _2\"></span>pany.<span class=\"_ _314\"> </span>The B<span class=\"_ _2\"></span>oar<span class=\"_ _2\"></span>d has pro<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d a f<span class=\"_ _2\"></span>inal d<span class=\"_ _2\"></span>ivi<span class=\"_ _2\"></span>den<span class=\"_ _2\"></span>d in resp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e year en<span class=\"_ _2\"></span>ded<span class=\"_ _2\"></span> 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2025 of 1<span class=\"_ _2\"></span>03.0<span class=\"_ _2\"></span>p per s<span class=\"_ _2\"></span>hare, w<span class=\"_ _2\"></span>hich a<span class=\"_ _2\"></span>moun<span class=\"_ _2\"></span>ts to a<span class=\"_ _2\"></span>n expe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>ted pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t of \u00a3519 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on on 20 Ma<span class=\"_ _2\"></span>y 2026. Thi<span class=\"_ _2\"></span>s is not re<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted in t<span class=\"_ _2\"></span>he financial st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s.  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>Dividend dist<span class=\"_ _2\"></span>ributions to<span class=\"_ _0\"></span> the Company\u2019s equity holders are recognised as<span class=\"_ _0\"></span> a liabilit<span class=\"_ _2\"></span>y in<span class=\"_ _0\"></span> the Group financial statement<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> the period<span class=\"_ _2\"></span> in which the dividends are<span class=\"_ _0\"></span> approved by the Company\u2019s<span class=\"_ _0\"></span> shareholders<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDividendsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-486": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>Dividend dist<span class=\"_ _2\"></span>ributions to<span class=\"_ _0\"></span> the Company\u2019s equity holders are recognised as<span class=\"_ _0\"></span> a liabilit<span class=\"_ _2\"></span>y in<span class=\"_ _0\"></span> the Group financial statement<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> the period<span class=\"_ _2\"></span> in which the dividends are<span class=\"_ _0\"></span> approved by the Company\u2019s<span class=\"_ _0\"></span> shareholders<span class=\"_ _314\"> </span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-513": {
   "value": "Impairment of intangible assets, including goodwill<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> is tested for<span class=\"_ _0\"></span> impairment annually.<span class=\"_ _0\"></span> Any goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span> impairment is determined<span class=\"_ _0\"></span> by assessing the recov<span class=\"_ _0\"></span>erable amount of<span class=\"_ _314\"> </span> eac<span class=\"_ _2\"></span>h CGU. W<span class=\"_ _2\"></span>hen t<span class=\"_ _2\"></span>he reco<span class=\"_ _2\"></span>vera<span class=\"_ _2\"></span>ble am<span class=\"_ _2\"></span>ount o<span class=\"_ _2\"></span>f the CG<span class=\"_ _2\"></span>U is le<span class=\"_ _2\"></span>ss t<span class=\"_ _2\"></span>han<span class=\"_ _314\"> </span> it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> an impairment loss is rec<span class=\"_ _0\"></span>ognised<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Impairmen<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span> losses relating t<span class=\"_ _0\"></span>o goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> cannot be reversed in<span class=\"_ _0\"></span> future periods.<span class=\"_ _314\"> </span>Intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are assessed for any<span class=\"_ _0\"></span> indicators of impairment at<span class=\"_ _314\"> </span> each balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> If any indication exist<span class=\"_ _2\"></span>s, or<span class=\"_ _0\"></span> when annual<span class=\"_ _314\"> </span> impairment testing for an<span class=\"_ _0\"></span> asset is required, the<span class=\"_ _0\"></span> Group est<span class=\"_ _2\"></span>imat<span class=\"_ _0\"></span>es<span class=\"_ _314\"> </span> the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. Where it is not<span class=\"_ _0\"></span> possible to<span class=\"_ _314\"> </span> estimate the recoverable amount<span class=\"_ _0\"></span> of an individual asset, the<span class=\"_ _314\"> </span> Group estimates the reco<span class=\"_ _0\"></span>verable amount of the CGU<span class=\"_ _0\"></span> to which<span class=\"_ _314\"> </span> the asset belongs.<span class=\"_ _314\"> </span>An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount<span class=\"_ _314\"> </span> of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span> losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>,<span class=\"_ _314\"> </span> amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated<span class=\"_ _314\"> </span> f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span> CGU and then t<span class=\"_ _0\"></span>o reduce the carry<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> the other assets<span class=\"_ _314\"> </span> in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>At each r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date,<span class=\"_ _0\"></span> the Group assesses whether there is an ind<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n that a<span class=\"_ _2\"></span>n ass<span class=\"_ _2\"></span>et may be i<span class=\"_ _2\"></span>mpai<span class=\"_ _2\"></span>red. I<span class=\"_ _2\"></span>f any i<span class=\"_ _2\"></span>ndic<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on exi<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s, t<span class=\"_ _2\"></span>he Group estimates the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. The recov<span class=\"_ _0\"></span>erable amount is the higher<span class=\"_ _0\"></span> of an asset\u2019s<span class=\"_ _0\"></span> fair value less costs of disposal, and its value<span class=\"_ _2\"></span>-in-<span class=\"_ _2\"></span>use.<span class=\"_ _0\"></span> Where it is not possible t<span class=\"_ _0\"></span>o estimate the recoverable amount<span class=\"_ _0\"></span> of an individual asset, the Group estimates th<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>rab<span class=\"_ _2\"></span>le amo<span class=\"_ _2\"></span>unt of t<span class=\"_ _2\"></span>he CG<span class=\"_ _2\"></span>U to whi<span class=\"_ _2\"></span>ch th<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>t belo<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>. An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>, amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he CGU, and<span class=\"_ _0\"></span> then to reduce<span class=\"_ _0\"></span> the carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the other assets in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfNonfinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-517": {
   "value": "Impairment of intangible assets, including goodwill<span class=\"_ _314\"> </span>Goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> is tested for<span class=\"_ _0\"></span> impairment annually.<span class=\"_ _0\"></span> Any goodw<span class=\"_ _2\"></span>ill<span class=\"_ _314\"> </span>impairment is determined<span class=\"_ _0\"></span> by assessing the recov<span class=\"_ _0\"></span>erable amount of<span class=\"_ _314\"> </span>eac<span class=\"_ _2\"></span>h CGU. W<span class=\"_ _2\"></span>hen t<span class=\"_ _2\"></span>he reco<span class=\"_ _2\"></span>vera<span class=\"_ _2\"></span>ble am<span class=\"_ _2\"></span>ount o<span class=\"_ _2\"></span>f the CG<span class=\"_ _2\"></span>U is le<span class=\"_ _2\"></span>ss t<span class=\"_ _2\"></span>han<span class=\"_ _314\"> </span>it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> an impairment loss is rec<span class=\"_ _0\"></span>ognised<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Impairmen<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span>losses relating t<span class=\"_ _0\"></span>o goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> cannot be reversed in<span class=\"_ _0\"></span> future periods.<span class=\"_ _314\"> </span>Intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are assessed for any<span class=\"_ _0\"></span> indicators of impairment at<span class=\"_ _314\"> </span>each balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> If any indication exist<span class=\"_ _2\"></span>s, or<span class=\"_ _0\"></span> when annual<span class=\"_ _314\"> </span>impairment testing for an<span class=\"_ _0\"></span> asset is required, the<span class=\"_ _0\"></span> Group est<span class=\"_ _2\"></span>imat<span class=\"_ _0\"></span>es<span class=\"_ _314\"> </span>the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. Where it is not<span class=\"_ _0\"></span> possible to<span class=\"_ _314\"> </span>estimate the recoverable amount<span class=\"_ _0\"></span> of an individual asset, the<span class=\"_ _314\"> </span>Group estimates the reco<span class=\"_ _0\"></span>verable amount of the CGU<span class=\"_ _0\"></span> to which<span class=\"_ _314\"> </span>the asset belongs.<span class=\"_ _314\"> </span>An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount<span class=\"_ _314\"> </span>of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span>losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>,<span class=\"_ _314\"> </span>amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated<span class=\"_ _314\"> </span>f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span>CGU and then t<span class=\"_ _0\"></span>o reduce the carry<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> the other assets<span class=\"_ _314\"> </span>in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>At each r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date,<span class=\"_ _0\"></span> the Group assesses whether there is an ind<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n that a<span class=\"_ _2\"></span>n ass<span class=\"_ _2\"></span>et may be i<span class=\"_ _2\"></span>mpai<span class=\"_ _2\"></span>red. I<span class=\"_ _2\"></span>f any i<span class=\"_ _2\"></span>ndic<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on exi<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s, t<span class=\"_ _2\"></span>he Group estimates the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. The recov<span class=\"_ _0\"></span>erable amount is the higher<span class=\"_ _0\"></span> of an asset\u2019s<span class=\"_ _0\"></span> fair value less costs of disposal, and its value<span class=\"_ _2\"></span>-in-<span class=\"_ _2\"></span>use.<span class=\"_ _0\"></span> Where it is not possible t<span class=\"_ _0\"></span>o estimate the recoverable amount<span class=\"_ _0\"></span> of an individual asset, the Group estimates th<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>rab<span class=\"_ _2\"></span>le amo<span class=\"_ _2\"></span>unt of t<span class=\"_ _2\"></span>he CG<span class=\"_ _2\"></span>U to whi<span class=\"_ _2\"></span>ch th<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>t belo<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>. An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>, amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he CGU, and<span class=\"_ _0\"></span> then to reduce<span class=\"_ _0\"></span> the carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the other assets in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Impairment<span class=\"_ _314\"> </span>The Group adopts a f<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>ward-<span class=\"_ _2\"></span>looking approach<span class=\"_ _0\"></span> to estimating impairment losses on financial assets. An expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> credit loss (E<span class=\"_ _2\"></span>CL) a<span class=\"_ _2\"></span>rise<span class=\"_ _2\"></span>s if th<span class=\"_ _2\"></span>e cas<span class=\"_ _2\"></span>h fl<span class=\"_ _2\"></span>ows t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to recei<span class=\"_ _2\"></span>ve are low<span class=\"_ _2\"></span>er tha<span class=\"_ _2\"></span>n the c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>tua<span class=\"_ _2\"></span>l cash f<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>ows du<span class=\"_ _2\"></span>e, or are d<span class=\"_ _2\"></span>elaye<span class=\"_ _2\"></span>d. The d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>fere<span class=\"_ _2\"></span>nce is di<span class=\"_ _2\"></span>scou<span class=\"_ _2\"></span>nted a<span class=\"_ _2\"></span>t the a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>\u2019s ori<span class=\"_ _2\"></span>gina<span class=\"_ _2\"></span>l ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve interest rate<span class=\"_ _0\"></span> and recognised as an<span class=\"_ _0\"></span> impairment of the original val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> cost<span class=\"ff76 ls3 ws3\"> \u2013 t<span class=\"_ _2\"></span>he ECL fo<span class=\"_ _2\"></span>r tr<span class=\"_ _2\"></span>ade </span></span>receivables (including fees<span class=\"_ _0\"></span> receivable), contract asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> lease receivables is<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>ved<span class=\"_ _0\"></span> using the simplif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> approach in I<span class=\"_ _2\"></span>FRS 9 <span class=\"ff78 ls3e ws5b\">Financial Inst<span class=\"_ _2\"></span>ruments</span> to cal<span class=\"_ _2\"></span>cula<span class=\"_ _2\"></span>te a lifet<span class=\"_ _2\"></span>ime E<span class=\"_ _2\"></span>CL.<span class=\"_ _2\"></span> The allowance<span class=\"_ _0\"></span> is based on historical experience o<span class=\"_ _0\"></span>f collect<span class=\"_ _2\"></span>ion ra<span class=\"_ _2\"></span>tes, a<span class=\"_ _2\"></span>djus<span class=\"_ _2\"></span>ted fo<span class=\"_ _2\"></span>r for<span class=\"_ _2\"></span>ward<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>loo<span class=\"_ _2\"></span>king f<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s spec<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ic to ea<span class=\"_ _2\"></span>ch counterpart<span class=\"_ _2\"></span>y and the economic<span class=\"_ _0\"></span> environment at large,<span class=\"_ _0\"></span> to creat<span class=\"_ _0\"></span>e an ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted l<span class=\"_ _2\"></span>oss m<span class=\"_ _2\"></span>atr<span class=\"_ _2\"></span>ix.<span class=\"_ _314\"> </span>The ECL on o<span class=\"_ _0\"></span>ther f<span class=\"_ _2\"></span>inancial assets held at<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tised cost is measured using<span class=\"_ _0\"></span> the general approach. An allowance<span class=\"_ _0\"></span> is ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated ba<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>n the 12-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>th EC<span class=\"_ _2\"></span>L at ea<span class=\"_ _2\"></span>ch repo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date unless there is<span class=\"_ _0\"></span> a signif<span class=\"_ _2\"></span>icant incr<span class=\"_ _0\"></span>ease in the financial instrumen<span class=\"_ _2\"></span>t\u2019<span class=\"_ _0\"></span>s cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>, in whi<span class=\"_ _2\"></span>ch ca<span class=\"_ _2\"></span>se a los<span class=\"_ _2\"></span>s allo<span class=\"_ _2\"></span>wanc<span class=\"_ _2\"></span>e base<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e lifet<span class=\"_ _2\"></span>ime<span class=\"_ _2\"></span> ECL is calculat<span class=\"_ _0\"></span>ed. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls3\">Fin<span class=\"_ _2\"></span>ancia<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts at F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I \u2013 debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rume<span class=\"_ _2\"></span>nts</span><span class=\"ls5 ws5\"> comprise </span>hig<span class=\"_ _2\"></span>h-<span class=\"_ _2\"></span>qu<span class=\"_ _2\"></span>ali<span class=\"_ _2\"></span>ty g<span class=\"_ _2\"></span>over<span class=\"_ _2\"></span>nmen<span class=\"_ _2\"></span>t bon<span class=\"_ _2\"></span>ds th<span class=\"_ _2\"></span>at have a l<span class=\"_ _2\"></span>ow cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk.<span class=\"_ _2\"></span> The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s p<span class=\"_ _2\"></span>olic<span class=\"_ _2\"></span>y is to c<span class=\"_ _2\"></span>alcu<span class=\"_ _2\"></span>late a 12-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>th EC<span class=\"_ _2\"></span>L on th<span class=\"_ _2\"></span>ese as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s. If t<span class=\"_ _2\"></span>here i<span class=\"_ _2\"></span>s a sign<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>nt inc<span class=\"_ _2\"></span>reas<span class=\"_ _2\"></span>e in cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk, t<span class=\"_ _2\"></span>hen a<span class=\"_ _2\"></span> li<span class=\"_ _2\"></span>fetim<span class=\"_ _2\"></span>e ECL w<span class=\"_ _2\"></span>ill b<span class=\"_ _2\"></span>e recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d. A si<span class=\"_ _2\"></span>gnif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant i<span class=\"_ _2\"></span>ncrea<span class=\"_ _2\"></span>se in cre<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span> ri<span class=\"_ _2\"></span>sk is con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>red to ha<span class=\"_ _2\"></span>ve occu<span class=\"_ _2\"></span>rred w<span class=\"_ _2\"></span>hen co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual p<span class=\"_ _2\"></span>aym<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s are m<span class=\"_ _2\"></span>ore th<span class=\"_ _2\"></span>an 30 da<span class=\"_ _2\"></span>ys pa<span class=\"_ _2\"></span>st du<span class=\"_ _2\"></span>e. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls7 wsa\">Financial assets at FVOCI \u2013<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y instruments<span class=\"ff76 ls3 ws3\"> and </span><span class=\"lsc ws6f\">f<span class=\"_ _2\"></span>inancial </span></span>ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s at FV<span class=\"_ _2\"></span>PL \u2013 <span class=\"ff76 ls6 ws7\">not subject to impairment.<span class=\"_ _314\"> </span></span>The Group writes off a financial asset when there<span class=\"_ _0\"></span> is no reasonable exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f recove<span class=\"_ _2\"></span>ring t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-489": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>Proper<span class=\"_ _2\"></span>ty<span class=\"_ _0\"></span>, plant and equipment<span class=\"_ _314\"> </span>Pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _2\"></span>lant a<span class=\"_ _2\"></span>nd equ<span class=\"_ _2\"></span>ipm<span class=\"_ _2\"></span>ent as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d at cos<span class=\"_ _2\"></span>t les<span class=\"_ _2\"></span>s accumulated<span class=\"_ _0\"></span> depreciation and accumulated<span class=\"_ _0\"></span> impairment losses.<span class=\"_ _314\"> </span>Land is not<span class=\"_ _0\"></span> depreciated. Freehold buildings, plant<span class=\"_ _0\"></span> and equipment are depreci<span class=\"_ _0\"></span>ated to a<span class=\"_ _0\"></span> residual value on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line basis<span class=\"_ _0\"></span> over their estimated useful economic lives<span class=\"_ _0\"></span> as follows: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Fre<span class=\"_ _2\"></span>ehol<span class=\"_ _2\"></span>d buil<span class=\"_ _2\"></span>din<span class=\"_ _2\"></span>gs \u2013 30 to 5<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Pla<span class=\"_ _2\"></span>nt and e<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>pmen<span class=\"_ _2\"></span>t \u2013 3 to 20 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span>Leasehold impro<span class=\"_ _0\"></span>vement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are recorded<span class=\"_ _0\"></span> at cost and depreciat<span class=\"_ _0\"></span>ed to a residual<span class=\"_ _0\"></span> value over the s<span class=\"_ _0\"></span>hor<span class=\"_ _2\"></span>ter of<span class=\"_ _0\"></span> the period of the lease and<span class=\"_ _0\"></span> the use<span class=\"_ _2\"></span>ful e<span class=\"_ _2\"></span>conom<span class=\"_ _2\"></span>ic li<span class=\"_ _2\"></span>fe of the a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>At each r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date,<span class=\"_ _0\"></span> the Group assesses whether there is an ind<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n that a<span class=\"_ _2\"></span>n ass<span class=\"_ _2\"></span>et may be i<span class=\"_ _2\"></span>mpai<span class=\"_ _2\"></span>red. I<span class=\"_ _2\"></span>f any i<span class=\"_ _2\"></span>ndic<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on exi<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s, t<span class=\"_ _2\"></span>he Group estimates the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. The recov<span class=\"_ _0\"></span>erable amount is the higher<span class=\"_ _0\"></span> of an asset\u2019s<span class=\"_ _0\"></span> fair value less costs of disposal, and its value<span class=\"_ _2\"></span>-in-<span class=\"_ _2\"></span>use.<span class=\"_ _0\"></span> Where it is not possible t<span class=\"_ _0\"></span>o estimate the recoverable amount<span class=\"_ _0\"></span> of an individual asset, the Group estimates th<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>rab<span class=\"_ _2\"></span>le amo<span class=\"_ _2\"></span>unt of t<span class=\"_ _2\"></span>he CG<span class=\"_ _2\"></span>U to whi<span class=\"_ _2\"></span>ch th<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>t belo<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>. An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>, amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he CGU, and<span class=\"_ _0\"></span> then to reduce<span class=\"_ _0\"></span> the carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the other assets in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Ou<span class=\"_ _2\"></span>r tangi<span class=\"_ _2\"></span>ble asse<span class=\"_ _2\"></span>ts are p<span class=\"_ _2\"></span>roper<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y (own<span class=\"_ _2\"></span>ed and l<span class=\"_ _2\"></span>eased<span class=\"_ _2\"></span>), equi<span class=\"_ _2\"></span>pment a<span class=\"_ _2\"></span>nd fur<span class=\"_ _2\"></span>nitu<span class=\"_ _2\"></span>re and f<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>gs. T<span class=\"_ _2\"></span>hese asse<span class=\"_ _2\"></span>ts are d<span class=\"_ _2\"></span>eprec<span class=\"_ _2\"></span>iated ov<span class=\"_ _2\"></span>er the<span class=\"_ _2\"></span>ir usefu<span class=\"_ _2\"></span>l economic li<span class=\"_ _2\"></span>ves.<span class=\"_ _314\"> </span>Right-of-<span class=\"_ _2\"></span>use assets (leases)<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>s a rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t where i<span class=\"_ _2\"></span>t has co<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rol of an as<span class=\"_ _2\"></span>set fo<span class=\"_ _2\"></span>r a peri<span class=\"_ _2\"></span>od of mo<span class=\"_ _2\"></span>re tha<span class=\"_ _2\"></span>n 12 mon<span class=\"_ _2\"></span>ths<span class=\"_ _2\"></span>. A<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s are re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d initially at cost and depreciat<span class=\"_ _0\"></span>ed on a straight-line basis over the shor<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> of the lease t<span class=\"_ _0\"></span>erm and the estimated useful economic lif<span class=\"_ _0\"></span>e. Cost is defined as the net pr<span class=\"_ _0\"></span>esent value of the initial lease<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y plus any initial costs and dilapidation pro<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>isions<span class=\"_ _0\"></span> less any lease incentives received.<span class=\"_ _314\"> </span>The lease t<span class=\"_ _0\"></span>erm is the non-<span class=\"_ _2\"></span>cancellable t<span class=\"_ _0\"></span>erm plus any periods for which<span class=\"_ _0\"></span> the Group is reasonably certain to ex<span class=\"_ _0\"></span>ercise any extension options.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere a pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is n<span class=\"_ _2\"></span>o long<span class=\"_ _2\"></span>er use<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e busi<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>s or th<span class=\"_ _2\"></span>ere is surplus space,<span class=\"_ _0\"></span> an impairment in the value o<span class=\"_ _0\"></span>f the right-<span class=\"_ _2\"></span>of-use asset is re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised a<span class=\"_ _2\"></span>nd th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at i<span class=\"_ _2\"></span>ts e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imate<span class=\"_ _2\"></span>d recoverable value<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere a lea<span class=\"_ _2\"></span>se is te<span class=\"_ _2\"></span>rmin<span class=\"_ _2\"></span>ated ea<span class=\"_ _2\"></span>rl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, th<span class=\"_ _2\"></span>is is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>s a disp<span class=\"_ _2\"></span>osal<span class=\"_ _2\"></span> and any difference<span class=\"_ _0\"></span> in value between the asset (being the carr<span class=\"_ _2\"></span>ying value of the<span class=\"_ _0\"></span> right-<span class=\"_ _2\"></span>of-use asset) and the liabilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> (being the net pre<span class=\"_ _2\"></span>sent v<span class=\"_ _2\"></span>alue o<span class=\"_ _2\"></span>f fut<span class=\"_ _2\"></span>ure lea<span class=\"_ _2\"></span>se ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns) is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed as a<span class=\"_ _2\"></span> prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t or los<span class=\"_ _2\"></span>s on di<span class=\"_ _2\"></span>spos<span class=\"_ _2\"></span>al. A<span class=\"_ _2\"></span>ny pe<span class=\"_ _2\"></span>nalt<span class=\"_ _2\"></span>y fe<span class=\"_ _2\"></span>es pay<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e for ear<span class=\"_ _2\"></span>ly termination are<span class=\"_ _0\"></span> recognised directl<span class=\"_ _2\"></span>y in<span class=\"_ _0\"></span> the income statement as an operating expense.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-529": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>Proper<span class=\"_ _2\"></span>ty<span class=\"_ _0\"></span>, plant and equipment<span class=\"_ _314\"> </span>Pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _2\"></span>lant a<span class=\"_ _2\"></span>nd equ<span class=\"_ _2\"></span>ipm<span class=\"_ _2\"></span>ent as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d at cos<span class=\"_ _2\"></span>t les<span class=\"_ _2\"></span>s accumulated<span class=\"_ _0\"></span> depreciation and accumulated<span class=\"_ _0\"></span> impairment losses.<span class=\"_ _314\"> </span>Land is not<span class=\"_ _0\"></span> depreciated. Freehold buildings, plant<span class=\"_ _0\"></span> and equipment are depreci<span class=\"_ _0\"></span>ated to a<span class=\"_ _0\"></span> residual value on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line basis<span class=\"_ _0\"></span> over their estimated useful economic lives<span class=\"_ _0\"></span> as follows: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Fre<span class=\"_ _2\"></span>ehol<span class=\"_ _2\"></span>d buil<span class=\"_ _2\"></span>din<span class=\"_ _2\"></span>gs \u2013 30 to 5<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Pla<span class=\"_ _2\"></span>nt and e<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>pmen<span class=\"_ _2\"></span>t \u2013 3 to 20 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span>Leasehold impro<span class=\"_ _0\"></span>vement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are recorded<span class=\"_ _0\"></span> at cost and depreciat<span class=\"_ _0\"></span>ed to a residual<span class=\"_ _0\"></span> value over the s<span class=\"_ _0\"></span>hor<span class=\"_ _2\"></span>ter of<span class=\"_ _0\"></span> the period of the lease and<span class=\"_ _0\"></span> the use<span class=\"_ _2\"></span>ful e<span class=\"_ _2\"></span>conom<span class=\"_ _2\"></span>ic li<span class=\"_ _2\"></span>fe of the a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>At each r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date,<span class=\"_ _0\"></span> the Group assesses whether there is an ind<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n that a<span class=\"_ _2\"></span>n ass<span class=\"_ _2\"></span>et may be i<span class=\"_ _2\"></span>mpai<span class=\"_ _2\"></span>red. I<span class=\"_ _2\"></span>f any i<span class=\"_ _2\"></span>ndic<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on exi<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s, t<span class=\"_ _2\"></span>he Group estimates the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. The recov<span class=\"_ _0\"></span>erable amount is the higher<span class=\"_ _0\"></span> of an asset\u2019s<span class=\"_ _0\"></span> fair value less costs of disposal, and its value<span class=\"_ _2\"></span>-in-<span class=\"_ _2\"></span>use.<span class=\"_ _0\"></span> Where it is not possible t<span class=\"_ _0\"></span>o estimate the recoverable amount<span class=\"_ _0\"></span> of an individual asset, the Group estimates th<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>rab<span class=\"_ _2\"></span>le amo<span class=\"_ _2\"></span>unt of t<span class=\"_ _2\"></span>he CG<span class=\"_ _2\"></span>U to whi<span class=\"_ _2\"></span>ch th<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>t belo<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>. An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>, amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he CGU, and<span class=\"_ _0\"></span> then to reduce<span class=\"_ _0\"></span> the carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the other assets in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Ou<span class=\"_ _2\"></span>r tangi<span class=\"_ _2\"></span>ble asse<span class=\"_ _2\"></span>ts are p<span class=\"_ _2\"></span>roper<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y (own<span class=\"_ _2\"></span>ed and l<span class=\"_ _2\"></span>eased<span class=\"_ _2\"></span>), equi<span class=\"_ _2\"></span>pment a<span class=\"_ _2\"></span>nd fur<span class=\"_ _2\"></span>nitu<span class=\"_ _2\"></span>re and f<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>gs. T<span class=\"_ _2\"></span>hese asse<span class=\"_ _2\"></span>ts are d<span class=\"_ _2\"></span>eprec<span class=\"_ _2\"></span>iated ov<span class=\"_ _2\"></span>er the<span class=\"_ _2\"></span>ir usefu<span class=\"_ _2\"></span>l economic li<span class=\"_ _2\"></span>ves.<span class=\"_ _314\"> </span>Right-of-<span class=\"_ _2\"></span>use assets (leases)<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>s a rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t where i<span class=\"_ _2\"></span>t has co<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rol of an as<span class=\"_ _2\"></span>set fo<span class=\"_ _2\"></span>r a peri<span class=\"_ _2\"></span>od of mo<span class=\"_ _2\"></span>re tha<span class=\"_ _2\"></span>n 12 mon<span class=\"_ _2\"></span>ths<span class=\"_ _2\"></span>. A<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s are re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d initially at cost and depreciat<span class=\"_ _0\"></span>ed on a straight-line basis over the shor<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> of the lease t<span class=\"_ _0\"></span>erm and the estimated useful economic lif<span class=\"_ _0\"></span>e. Cost is defined as the net pr<span class=\"_ _0\"></span>esent value of the initial lease<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y plus any initial costs and dilapidation pro<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>isions<span class=\"_ _0\"></span> less any lease incentives received.<span class=\"_ _314\"> </span>The lease t<span class=\"_ _0\"></span>erm is the non-<span class=\"_ _2\"></span>cancellable t<span class=\"_ _0\"></span>erm plus any periods for which<span class=\"_ _0\"></span> the Group is reasonably certain to ex<span class=\"_ _0\"></span>ercise any extension options.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere a pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is n<span class=\"_ _2\"></span>o long<span class=\"_ _2\"></span>er use<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e busi<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>s or th<span class=\"_ _2\"></span>ere is surplus space,<span class=\"_ _0\"></span> an impairment in the value o<span class=\"_ _0\"></span>f the right-<span class=\"_ _2\"></span>of-use asset is re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised a<span class=\"_ _2\"></span>nd th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at i<span class=\"_ _2\"></span>ts e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imate<span class=\"_ _2\"></span>d recoverable value<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere a lea<span class=\"_ _2\"></span>se is te<span class=\"_ _2\"></span>rmin<span class=\"_ _2\"></span>ated ea<span class=\"_ _2\"></span>rl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, th<span class=\"_ _2\"></span>is is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>s a disp<span class=\"_ _2\"></span>osal<span class=\"_ _2\"></span> and any difference<span class=\"_ _0\"></span> in value between the asset (being the carr<span class=\"_ _2\"></span>ying value of the<span class=\"_ _0\"></span> right-<span class=\"_ _2\"></span>of-use asset) and the liabilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> (being the net pre<span class=\"_ _2\"></span>sent v<span class=\"_ _2\"></span>alue o<span class=\"_ _2\"></span>f fut<span class=\"_ _2\"></span>ure lea<span class=\"_ _2\"></span>se ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns) is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed as a<span class=\"_ _2\"></span> prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t or los<span class=\"_ _2\"></span>s on di<span class=\"_ _2\"></span>spos<span class=\"_ _2\"></span>al. A<span class=\"_ _2\"></span>ny pe<span class=\"_ _2\"></span>nalt<span class=\"_ _2\"></span>y fe<span class=\"_ _2\"></span>es pay<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e for ear<span class=\"_ _2\"></span>ly termination are<span class=\"_ _0\"></span> recognised directl<span class=\"_ _2\"></span>y in<span class=\"_ _0\"></span> the income statement as an operating expense.<span class=\"_ _314\"> </span><div class=\"gse3\"><table class=\"s w528 h259\" id=\"_65d96688-051d-4984-a64e-39af2555f518\"><tr><td></td><td class=\"c n x899 y226a w529 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls26 ws3\">La<span class=\"_ _2\"></span>nd &amp; Bui<span class=\"_ _2\"></span>ldi<span class=\"_ _2\"></span>ngs<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td class=\"c n x89a y226a w52a h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 lse5 ws75\">Plant and equipment<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x2cd h13 y226b ff72 fs6 fc1 sc0 ls12 ws81\">Leasehold </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x6d8 h13 y226c ff72 fs6 fc1 sc0 ls7a wsbe\">Freehold<span class=\"_ _0\"></span> </td><td class=\"t m0 x89b h13 y226c ff72 fs6 fc1 sc0 lse5 ws125\">Right-of-use </td><td class=\"t m0 x89c h13 y226c ff72 fs6 fc1 sc0 ls94 wsc1\">imp<span class=\"_ _2\"></span>rove-<span class=\"_ _314\"> </span></td><td class=\"t m0 x89d h13 y226c ff72 fs6 fc1 sc0 lse5 ws125\" colspan=\"2\">Right-of-use </td><td></td></tr><tr><td></td><td class=\"t m0 x89e h13 y226d ff72 fs6 fc1 sc0 ls27 ws45\">propert<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></td><td class=\"t m0 x89f h13 y226d ff72 fs6 fc1 sc0 ls4 ws3\">asset<span class=\"_ _2\"></span>s </td><td class=\"t m0 x8a0 h13 y226d ff72 fs6 fc1 sc0 ls27 ws45\">ments<span class=\"_ _314\"> </span></td><td class=\"c n x8a1 y226e w130 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls4 ws3\">asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a2 y226e w52b h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls12 ws81\">Owned<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a3 y226e w52c h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x8a4 y226f w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a5 y226f w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a6 y226f w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a7 y226f w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a8 y226f w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a9 y226f w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2270 ff72 fs129 fc1 sc0 ls6d ws97\">Cost<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2271 w12c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x8aa y2271 wf9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ab y2271 w52d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">711<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ac y2271 w52e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">150<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ad y2271 w52f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">113<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ae y2271 w530 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">723<span class=\"_ _314\"> </span></div></td><td class=\"c n x8af y2271 w531 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,714<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2052 w470 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Additions<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b0 y2052 w4b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b1 y2052 w532 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls10f ws182\">44<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b2 y2052 w7c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b3 y2052 w15c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">36<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b4 y2052 w533 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">91<span class=\"_ _314\"> </span></div></td><td class=\"c n x21c y2052 w534 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsad wsdc\">182<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2272 w535 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Lease<span class=\"_ _0\"></span> modif<span class=\"_ _2\"></span>ications<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b5 y2272 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b6 y2272 w13c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">30<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b7 y2272 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b8 y2272 w93 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">42<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b9 y2272 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ba y2272 w116 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">72<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2054 w475 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td class=\"c n x8bb y2054 w536 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">(<span class=\"_ _2\"></span>6)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8bc y2054 w537 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">(107<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8bd y2054 w4b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n x8be y2054 w538 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>12)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8bf y2054 w539 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(26)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c0 y2054 w53a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">(<span class=\"_ _2\"></span>147<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2273 w1fa h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c1 y2273 w53b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c2 y2273 w31d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c3 y2273 w53c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c4 y2273 w2df h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c5 y2273 w4b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c6 y2273 w2df h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2274 w15d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c7 y2274 wdc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">14<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c8 y2274 w53d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">67<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c9 y2274 w74 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa2 wscd\">159<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ca y2274 w53e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">180<span class=\"_ _314\"> </span></div></td><td class=\"c n x8cb y2274 w53f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa2 wscd\">792<span class=\"_ _314\"> </span></div></td><td class=\"c n x8cc y2274 w540 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>,822<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2057 w470 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Additions<span class=\"_ _314\"> </span></div></td><td class=\"c n x8cd y2057 w55 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ce y2057 w541 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">96<span class=\"_ _314\"> </span></div></td><td class=\"c n x8cf y2057 wa6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x441 y2057 w542 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d0 y2057 w543 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">106<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d1 y2057 w136 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">234<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2275 w535 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Lease<span class=\"_ _0\"></span> modif<span class=\"_ _2\"></span>ications<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b5 y2275 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d2 y2275 w544 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">28<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d3 y2275 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d4 y2275 w545 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls75 ws9e\">31<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d5 y2275 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d6 y2275 w1a8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6f ws99\">59<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2276 w546 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other</div><div class=\"t m0 x7b0 h194 y20bd ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d7 y2277 w135 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d8 y2277 w547 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d9 y2277 w548 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x8da y2277 w549 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">(18)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8db y2277 w420 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls70 ws76\">(31)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8dc y2277 w386 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">(88)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y205a w1fa h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x8dd y205a w1a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8de y205a w54a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>8)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8df y205a w1a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e0 y205a w425 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e1 y205a w54b h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6e ws98\">(27<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e2 y205a w4b5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">(5<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2278 w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e3 y2278 w56 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e4 y2278 w54c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls78 wse4\">74<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e5 y2278 w4a4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">172<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e6 y2278 w547 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">207<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e7 y2278 w54d h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsac wsd7\">840<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e8 y2278 w54e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsee ws55\">1,9<span class=\"_ _0\"></span>73<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2279 ff72 fs129 fc1 sc0 ls6d wsd4\">Accumulated<span class=\"_ _0\"></span> depreciation and impairment<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y227a w12c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e9 y227a w54f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ea y227a w550 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">354<span class=\"_ _314\"> </span></div></td><td class=\"c n x8eb y227a w551 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ec y227a w532 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls10f ws182\">44<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ed y227a w552 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">51<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ee y227a w386 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">998<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y227b w553 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">Depreciation<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ef y227b w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f0 y227b w105 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">85<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f1 y227b wa0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">16<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f2 y227b wbe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f3 y227b w40a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">106<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f4 y227b w554 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">265<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y225d w4a2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Impairment<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f5 y225d w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f6 y225d w555 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f7 y225d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f8 y225d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f9 y225d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8fa y225d wf9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b9 w475 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td class=\"c n x8fb y21b9 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8fc y21b9 w556 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">(103)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8fd y21b9 w557 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8fe y21b9 w3b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">(15)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ff y21b9 w2b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">(23)<span class=\"_ _314\"> </span></div></td><td class=\"c n x900 y21b9 w558 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">(143)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2062 w1fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x901 y2062 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x902 y2062 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x903 y2062 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x904 y2062 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x905 y2062 w4b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n x906 y2062 w559 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2189 w15d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x907 y2189 w54f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x908 y2189 w55a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws96\">35<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x909 y2189 w32d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">100<span class=\"_ _314\"> </span></div></td><td class=\"c n x90a y2189 w55b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">87<span class=\"_ _314\"> </span></div></td><td class=\"c n x90b y2189 wcc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">599<span class=\"_ _314\"> </span></div></td><td class=\"c n x586 y2189 w18f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">1,1<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21ba w553 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">Depreciation<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ef y21ba w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x90c y21ba w55c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d ws97\">78<span class=\"_ _314\"> </span></div></td><td class=\"c n x90d y21ba w33a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x90e y21ba w55d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td><td class=\"c n x90f y21ba w4e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa9 ws7e\">96<span class=\"_ _314\"> </span></div></td><td class=\"c n x910 y21ba w19a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">253<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2073 w546 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other</div><div class=\"t m0 x7b0 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d7 y227c w135 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d8 y227c w2f8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">(33)<span class=\"_ _314\"> </span></div></td><td class=\"c n x911 y227c w3bf h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">(<span class=\"_ _2\"></span>6)<span class=\"_ _314\"> </span></div></td><td class=\"c n x912 y227c w3ca h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">(17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x913 y227c w55e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>24)<span class=\"_ _314\"> </span></div></td><td class=\"c n x914 y227c w55f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls95 wsc2\">(8<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w1fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c1 y214a w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x915 y214a w8f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n x916 y214a w560 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x917 y214a w560 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x918 y214a w136 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n x919 y214a w54b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(36)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y227d w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x91a y227d w3e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x91b y227d w561 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">387<span class=\"_ _314\"> </span></div></td><td class=\"c n x91c y227d w562 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">110<span class=\"_ _314\"> </span></div></td><td class=\"c n x91d y227d w2a5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">128<span class=\"_ _314\"> </span></div></td><td class=\"c n x91e y227d w563 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsb5 wse3\">651<span class=\"_ _314\"> </span></div></td><td class=\"c n x91f y227d w564 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>,278<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y227e ff72 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k valu<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y224c w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x920 y224c w1d5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">11<span class=\"_ _314\"> </span></div></td><td class=\"c n x921 y224c w19a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">354<span class=\"_ _314\"> </span></div></td><td class=\"c n x922 y224c w565 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">62<span class=\"_ _314\"> </span></div></td><td class=\"c n x923 y224c w52 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6d ws97\">79<span class=\"_ _314\"> </span></div></td><td class=\"c n x924 y224c w430 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">189<span class=\"_ _314\"> </span></div></td><td class=\"c n x925 y224c wb9 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa7 wsd3\">695<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w15d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x926 y2069 w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x927 y2069 w566 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb9 wse9\">324<span class=\"_ _314\"> </span></div></td><td class=\"c n x928 y2069 w567 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _314\"> </span></div></td><td class=\"c n x929 y2069 w568 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">93<span class=\"_ _314\"> </span></div></td><td class=\"c n x92a y2069 w569 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">193<span class=\"_ _314\"> </span></div></td><td class=\"c n x92b y2069 w56a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">681<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff71 fs7 fc1 sc0 lsb ws3 gs35f\">1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng th<span class=\"_ _2\"></span>e yea<span class=\"_ _2\"></span>r, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p has re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nis<span class=\"_ _2\"></span>ed wr<span class=\"_ _2\"></span>ite o<span class=\"_ _2\"></span>ff<span class=\"_ _2\"></span>s of r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>ss<span class=\"_ _2\"></span>ets o<span class=\"_ _2\"></span>f \u00a351 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on (20<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>11<span class=\"_ _2\"></span>9 mil<span class=\"_ _2\"></span>lion<span class=\"_ _2\"></span>) wi<span class=\"_ _2\"></span>th a ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k val<span class=\"_ _2\"></span>ue of \u00a3<span class=\"_ _2\"></span>1 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (2024: \u00a31 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion) m<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>ly d<span class=\"_ _2\"></span>ue to ea<span class=\"_ _2\"></span>rl<span class=\"_ _2\"></span>y term<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n </div><div class=\"t m0 hc ff71 fs7 fc1 sc0 ls7 ws48 gs360\">of leases.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-543": {
   "value": "Proper<span class=\"_ _2\"></span>ty<span class=\"_ _0\"></span>, plant and equipment<span class=\"_ _314\"> </span>Pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, p<span class=\"_ _2\"></span>lant a<span class=\"_ _2\"></span>nd equ<span class=\"_ _2\"></span>ipm<span class=\"_ _2\"></span>ent as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d at cos<span class=\"_ _2\"></span>t les<span class=\"_ _2\"></span>s accumulated<span class=\"_ _0\"></span> depreciation and accumulated<span class=\"_ _0\"></span> impairment losses.<span class=\"_ _314\"> </span>Land is not<span class=\"_ _0\"></span> depreciated. Freehold buildings, plant<span class=\"_ _0\"></span> and equipment are depreci<span class=\"_ _0\"></span>ated to a<span class=\"_ _0\"></span> residual value on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line basis<span class=\"_ _0\"></span> over their estimated useful economic lives<span class=\"_ _0\"></span> as follows: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Fre<span class=\"_ _2\"></span>ehol<span class=\"_ _2\"></span>d buil<span class=\"_ _2\"></span>din<span class=\"_ _2\"></span>gs \u2013 30 to 5<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Pla<span class=\"_ _2\"></span>nt and e<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>pmen<span class=\"_ _2\"></span>t \u2013 3 to 20 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span>Leasehold impro<span class=\"_ _0\"></span>vement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are recorded<span class=\"_ _0\"></span> at cost and depreciat<span class=\"_ _0\"></span>ed to a residual<span class=\"_ _0\"></span> value over the s<span class=\"_ _0\"></span>hor<span class=\"_ _2\"></span>ter of<span class=\"_ _0\"></span> the period of the lease and<span class=\"_ _0\"></span> the use<span class=\"_ _2\"></span>ful e<span class=\"_ _2\"></span>conom<span class=\"_ _2\"></span>ic li<span class=\"_ _2\"></span>fe of the a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>At each r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date,<span class=\"_ _0\"></span> the Group assesses whether there is an ind<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n that a<span class=\"_ _2\"></span>n ass<span class=\"_ _2\"></span>et may be i<span class=\"_ _2\"></span>mpai<span class=\"_ _2\"></span>red. I<span class=\"_ _2\"></span>f any i<span class=\"_ _2\"></span>ndic<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on exi<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s, t<span class=\"_ _2\"></span>he Group estimates the asset\u2019s r<span class=\"_ _0\"></span>ecoverable amount. The recov<span class=\"_ _0\"></span>erable amount is the higher<span class=\"_ _0\"></span> of an asset\u2019s<span class=\"_ _0\"></span> fair value less costs of disposal, and its value<span class=\"_ _2\"></span>-in-<span class=\"_ _2\"></span>use.<span class=\"_ _0\"></span> Where it is not possible t<span class=\"_ _0\"></span>o estimate the recoverable amount<span class=\"_ _0\"></span> of an individual asset, the Group estimates th<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>rab<span class=\"_ _2\"></span>le amo<span class=\"_ _2\"></span>unt of t<span class=\"_ _2\"></span>he CG<span class=\"_ _2\"></span>U to whi<span class=\"_ _2\"></span>ch th<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>t belo<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>. An impairment loss is r<span class=\"_ _0\"></span>ecognised when the recoverable<span class=\"_ _0\"></span> amount of t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, or CGU, i<span class=\"_ _2\"></span>s les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s car<span class=\"_ _2\"></span>ry<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nt. I<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt losses are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin depr<span class=\"_ _0\"></span>eciation<span class=\"_ _2\"></span>, amor<span class=\"_ _2\"></span>tisation and impairment. CGU impairment losses are<span class=\"_ _0\"></span> allocated f<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>t to red<span class=\"_ _2\"></span>uce t<span class=\"_ _2\"></span>he car<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>yin<span class=\"_ _2\"></span>g amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny goo<span class=\"_ _2\"></span>dwi<span class=\"_ _2\"></span>ll all<span class=\"_ _2\"></span>oca<span class=\"_ _2\"></span>ted to t<span class=\"_ _2\"></span>he CGU, and<span class=\"_ _0\"></span> then to reduce<span class=\"_ _0\"></span> the carr<span class=\"_ _2\"></span>ying amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the other assets in t<span class=\"_ _2\"></span>he CGU o<span class=\"_ _2\"></span>n a pro<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>a basi<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Right-of-<span class=\"_ _2\"></span>use assets (leases)<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>s a rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t where i<span class=\"_ _2\"></span>t has co<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rol of an as<span class=\"_ _2\"></span>set fo<span class=\"_ _2\"></span>r a peri<span class=\"_ _2\"></span>od of mo<span class=\"_ _2\"></span>re tha<span class=\"_ _2\"></span>n 12 mon<span class=\"_ _2\"></span>ths<span class=\"_ _2\"></span>. A<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s are re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d initially at cost and depreciat<span class=\"_ _0\"></span>ed on a straight-line basis over the shor<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> of the lease t<span class=\"_ _0\"></span>erm and the estimated useful economic lif<span class=\"_ _0\"></span>e. Cost is defined as the net pr<span class=\"_ _0\"></span>esent value of the initial lease<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y plus any initial costs and dilapidation pro<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>isions<span class=\"_ _0\"></span> less any lease incentives received.<span class=\"_ _314\"> </span>The lease t<span class=\"_ _0\"></span>erm is the non-<span class=\"_ _2\"></span>cancellable t<span class=\"_ _0\"></span>erm plus any periods for which<span class=\"_ _0\"></span> the Group is reasonably certain to ex<span class=\"_ _0\"></span>ercise any extension options.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere a pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is n<span class=\"_ _2\"></span>o long<span class=\"_ _2\"></span>er use<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e busi<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>s or th<span class=\"_ _2\"></span>ere is surplus space,<span class=\"_ _0\"></span> an impairment in the value o<span class=\"_ _0\"></span>f the right-<span class=\"_ _2\"></span>of-use asset is re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised a<span class=\"_ _2\"></span>nd th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at i<span class=\"_ _2\"></span>ts e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>imate<span class=\"_ _2\"></span>d recoverable value<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere a lea<span class=\"_ _2\"></span>se is te<span class=\"_ _2\"></span>rmin<span class=\"_ _2\"></span>ated ea<span class=\"_ _2\"></span>rl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, th<span class=\"_ _2\"></span>is is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed a<span class=\"_ _2\"></span>s a disp<span class=\"_ _2\"></span>osal<span class=\"_ _2\"></span> and any difference<span class=\"_ _0\"></span> in value between the asset (being the carr<span class=\"_ _2\"></span>ying value of the<span class=\"_ _0\"></span> right-<span class=\"_ _2\"></span>of-use asset) and the liabilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> (being the net pre<span class=\"_ _2\"></span>sent v<span class=\"_ _2\"></span>alue o<span class=\"_ _2\"></span>f fut<span class=\"_ _2\"></span>ure lea<span class=\"_ _2\"></span>se ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns) is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed as a<span class=\"_ _2\"></span> prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t or los<span class=\"_ _2\"></span>s on di<span class=\"_ _2\"></span>spos<span class=\"_ _2\"></span>al. A<span class=\"_ _2\"></span>ny pe<span class=\"_ _2\"></span>nalt<span class=\"_ _2\"></span>y fe<span class=\"_ _2\"></span>es pay<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e for ear<span class=\"_ _2\"></span>ly termination are<span class=\"_ _0\"></span> recognised directl<span class=\"_ _2\"></span>y in<span class=\"_ _0\"></span> the income statement as an operating expense.<span class=\"_ _314\"> </span><table class=\"s w528 h259\" id=\"_65d96688-051d-4984-a64e-39af2555f518\"><tr><td></td><td class=\"c n x899 y226a w529 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls26 ws3\">La<span class=\"_ _2\"></span>nd &amp; Bui<span class=\"_ _2\"></span>ldi<span class=\"_ _2\"></span>ngs<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td class=\"c n x89a y226a w52a h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 lse5 ws75\">Plant and equipment<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 x2cd h13 y226b ff72 fs6 fc1 sc0 ls12 ws81\">Leasehold </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"t m0 x6d8 h13 y226c ff72 fs6 fc1 sc0 ls7a wsbe\">Freehold<span class=\"_ _0\"></span> </td><td class=\"t m0 x89b h13 y226c ff72 fs6 fc1 sc0 lse5 ws125\">Right-of-use </td><td class=\"t m0 x89c h13 y226c ff72 fs6 fc1 sc0 ls94 wsc1\">imp<span class=\"_ _2\"></span>rove-<span class=\"_ _314\"> </span></td><td class=\"t m0 x89d h13 y226c ff72 fs6 fc1 sc0 lse5 ws125\" colspan=\"2\">Right-of-use </td><td></td></tr><tr><td></td><td class=\"t m0 x89e h13 y226d ff72 fs6 fc1 sc0 ls27 ws45\">propert<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></td><td class=\"t m0 x89f h13 y226d ff72 fs6 fc1 sc0 ls4 ws3\">asset<span class=\"_ _2\"></span>s </td><td class=\"t m0 x8a0 h13 y226d ff72 fs6 fc1 sc0 ls27 ws45\">ments<span class=\"_ _314\"> </span></td><td class=\"c n x8a1 y226e w130 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls4 ws3\">asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a2 y226e w52b h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls12 ws81\">Owned<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a3 y226e w52c h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x8a4 y226f w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a5 y226f w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a6 y226f w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a7 y226f w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a8 y226f w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a9 y226f w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2270 ff72 fs129 fc1 sc0 ls6d ws97\">Cost<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2271 w12c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x8aa y2271 wf9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ab y2271 w52d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">711<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ac y2271 w52e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">150<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ad y2271 w52f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">113<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ae y2271 w530 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">723<span class=\"_ _314\"> </span></div></td><td class=\"c n x8af y2271 w531 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,714<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2052 w470 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Additions<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b0 y2052 w4b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b1 y2052 w532 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls10f ws182\">44<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b2 y2052 w7c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b3 y2052 w15c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">36<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b4 y2052 w533 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">91<span class=\"_ _314\"> </span></div></td><td class=\"c n x21c y2052 w534 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsad wsdc\">182<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2272 w535 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Lease<span class=\"_ _0\"></span> modif<span class=\"_ _2\"></span>ications<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b5 y2272 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b6 y2272 w13c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">30<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b7 y2272 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b8 y2272 w93 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">42<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b9 y2272 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ba y2272 w116 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">72<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2054 w475 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td class=\"c n x8bb y2054 w536 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls7b wse0\">(<span class=\"_ _2\"></span>6)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8bc y2054 w537 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">(107<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8bd y2054 w4b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n x8be y2054 w538 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>12)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8bf y2054 w539 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8a wsb6\">(26)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c0 y2054 w53a h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsb0 wsdb\">(<span class=\"_ _2\"></span>147<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2273 w1fa h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c1 y2273 w53b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c2 y2273 w31d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c3 y2273 w53c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c4 y2273 w2df h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c5 y2273 w4b h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c6 y2273 w2df h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2274 w15d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c7 y2274 wdc h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">14<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c8 y2274 w53d h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls76 ws9f\">67<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c9 y2274 w74 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa2 wscd\">159<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ca y2274 w53e h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls75 ws9e\">180<span class=\"_ _314\"> </span></div></td><td class=\"c n x8cb y2274 w53f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa2 wscd\">792<span class=\"_ _314\"> </span></div></td><td class=\"c n x8cc y2274 w540 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>,822<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2057 w470 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 ws79\">Additions<span class=\"_ _314\"> </span></div></td><td class=\"c n x8cd y2057 w55 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ce y2057 w541 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">96<span class=\"_ _314\"> </span></div></td><td class=\"c n x8cf y2057 wa6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x441 y2057 w542 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d0 y2057 w543 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa9 ws7e\">106<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d1 y2057 w136 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">234<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2275 w535 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Lease<span class=\"_ _0\"></span> modif<span class=\"_ _2\"></span>ications<span class=\"_ _314\"> </span></div></td><td class=\"c n x8b5 y2275 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d2 y2275 w544 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">28<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d3 y2275 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d4 y2275 w545 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls75 ws9e\">31<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d5 y2275 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d6 y2275 w1a8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6f ws99\">59<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2276 w546 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other</div><div class=\"t m0 x7b0 h194 y20bd ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d7 y2277 w135 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d8 y2277 w547 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d9 y2277 w548 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x8da y2277 w549 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">(18)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8db y2277 w420 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls70 ws76\">(31)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8dc y2277 w386 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">(88)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y205a w1fa h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x8dd y205a w1a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8de y205a w54a h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>8)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8df y205a w1a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls76 ws9f\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e0 y205a w425 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e1 y205a w54b h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 ls6e ws98\">(27<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e2 y205a w4b5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff72 fs129 fc1 sc0 lsa7 wsd3\">(5<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2278 w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e3 y2278 w56 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e4 y2278 w54c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls78 wse4\">74<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e5 y2278 w4a4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">172<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e6 y2278 w547 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls58 wsb5\">207<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e7 y2278 w54d h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsac wsd7\">840<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e8 y2278 w54e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsee ws55\">1,9<span class=\"_ _0\"></span>73<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2279 ff72 fs129 fc1 sc0 ls6d wsd4\">Accumulated<span class=\"_ _0\"></span> depreciation and impairment<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y227a w12c h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x8e9 y227a w54f h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ea y227a w550 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls6c ws96\">354<span class=\"_ _314\"> </span></div></td><td class=\"c n x8eb y227a w551 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ec y227a w532 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls10f ws182\">44<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ed y227a w552 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 ls73 ws9c\">51<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ee y227a w386 h21d\"><div class=\"t m0 x1e4 h193 y204b ff71 fs129 fc1 sc0 lsaa wsd6\">998<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y227b w553 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">Depreciation<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ef y227b w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f0 y227b w105 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">85<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f1 y227b wa0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">16<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f2 y227b wbe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f3 y227b w40a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">106<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f4 y227b w554 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls8a wsb6\">265<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y225d w4a2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">Impairment<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f5 y225d w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f6 y225d w555 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f7 y225d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f8 y225d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8f9 y225d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8fa y225d wf9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b9 w475 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other<span class=\"_ _314\"> </span></div></td><td class=\"c n x8fb y21b9 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8fc y21b9 w556 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">(103)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8fd y21b9 w557 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8fe y21b9 w3b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsaa wsd6\">(15)<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ff y21b9 w2b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">(23)<span class=\"_ _314\"> </span></div></td><td class=\"c n x900 y21b9 w558 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">(143)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2062 w1fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x901 y2062 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x902 y2062 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x903 y2062 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x904 y2062 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x905 y2062 w4b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n x906 y2062 w559 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2189 w15d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x907 y2189 w54f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x908 y2189 w55a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws96\">35<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x909 y2189 w32d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsee ws55\">100<span class=\"_ _314\"> </span></div></td><td class=\"c n x90a y2189 w55b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls7b wse0\">87<span class=\"_ _314\"> </span></div></td><td class=\"c n x90b y2189 wcc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">599<span class=\"_ _314\"> </span></div></td><td class=\"c n x586 y2189 w18f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls91 wsbf\">1,1<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21ba w553 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls76 ws9f\">Depreciation<span class=\"_ _314\"> </span></div></td><td class=\"c n x8ef y21ba w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x90c y21ba w55c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d ws97\">78<span class=\"_ _314\"> </span></div></td><td class=\"c n x90d y21ba w33a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x90e y21ba w55d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td><td class=\"c n x90f y21ba w4e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa9 ws7e\">96<span class=\"_ _314\"> </span></div></td><td class=\"c n x910 y21ba w19a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">253<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2073 w546 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Disposals, reclassificat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and other</div><div class=\"t m0 x7b0 h194 y20d4 ff71 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d7 y227c w135 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d8 y227c w2f8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">(33)<span class=\"_ _314\"> </span></div></td><td class=\"c n x911 y227c w3bf h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">(<span class=\"_ _2\"></span>6)<span class=\"_ _314\"> </span></div></td><td class=\"c n x912 y227c w3ca h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">(17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x913 y227c w55e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>24)<span class=\"_ _314\"> </span></div></td><td class=\"c n x914 y227c w55f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls95 wsc2\">(8<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w1fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x8c1 y214a w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x915 y214a w8f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n x916 y214a w560 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x917 y214a w560 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls76 ws9f\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x918 y214a w136 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n x919 y214a w54b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls4 ws3\">(36)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y227d w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x91a y227d w3e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x91b y227d w561 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6c ws96\">387<span class=\"_ _314\"> </span></div></td><td class=\"c n x91c y227d w562 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">110<span class=\"_ _314\"> </span></div></td><td class=\"c n x91d y227d w2a5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa4 wscf\">128<span class=\"_ _314\"> </span></div></td><td class=\"c n x91e y227d w563 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsb5 wse3\">651<span class=\"_ _314\"> </span></div></td><td class=\"c n x91f y227d w564 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>,278<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y227e ff72 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k valu<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y224c w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x920 y224c w1d5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">11<span class=\"_ _314\"> </span></div></td><td class=\"c n x921 y224c w19a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls76 ws9f\">354<span class=\"_ _314\"> </span></div></td><td class=\"c n x922 y224c w565 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls61 ws86\">62<span class=\"_ _314\"> </span></div></td><td class=\"c n x923 y224c w52 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 ls6d ws97\">79<span class=\"_ _314\"> </span></div></td><td class=\"c n x924 y224c w430 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsaa wsd6\">189<span class=\"_ _314\"> </span></div></td><td class=\"c n x925 y224c wb9 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff72 fs129 fc1 sc0 lsa7 wsd3\">695<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w15d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x926 y2069 w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x927 y2069 w566 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsb9 wse9\">324<span class=\"_ _314\"> </span></div></td><td class=\"c n x928 y2069 w567 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _314\"> </span></div></td><td class=\"c n x929 y2069 w568 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">93<span class=\"_ _314\"> </span></div></td><td class=\"c n x92a y2069 w569 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls95 wsc2\">193<span class=\"_ _314\"> </span></div></td><td class=\"c n x92b y2069 w56a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa8 wsd5\">681<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng th<span class=\"_ _2\"></span>e yea<span class=\"_ _2\"></span>r, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p has re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nis<span class=\"_ _2\"></span>ed wr<span class=\"_ _2\"></span>ite o<span class=\"_ _2\"></span>ff<span class=\"_ _2\"></span>s of r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>ss<span class=\"_ _2\"></span>ets o<span class=\"_ _2\"></span>f \u00a351 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on (20<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>11<span class=\"_ _2\"></span>9 mil<span class=\"_ _2\"></span>lion<span class=\"_ _2\"></span>) wi<span class=\"_ _2\"></span>th a ne<span class=\"_ _2\"></span>t boo<span class=\"_ _2\"></span>k val<span class=\"_ _2\"></span>ue of \u00a3<span class=\"_ _2\"></span>1 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (2024: \u00a31 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion) m<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>ly d<span class=\"_ _2\"></span>ue to ea<span class=\"_ _2\"></span>rl<span class=\"_ _2\"></span>y term<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of leases.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfReconciliationOfChangesInPropertyPlantAndEquipmentIncludingRightofuseAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-544": {
   "value": "11<span class=\"_ _2\"></span>. Inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment<span class=\"_ _2\"></span>s in f<span class=\"_ _2\"></span>inancial assets<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>roup ho<span class=\"_ _2\"></span>lds eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y inves<span class=\"_ _2\"></span>tment<span class=\"_ _2\"></span>s in a num<span class=\"_ _2\"></span>ber of co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>ies whi<span class=\"_ _2\"></span>ch fal<span class=\"_ _2\"></span>l below t<span class=\"_ _2\"></span>he level t<span class=\"_ _2\"></span>hat wo<span class=\"_ _2\"></span>uld resu<span class=\"_ _2\"></span>lt in rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>tion o<span class=\"_ _2\"></span>f an intere<span class=\"_ _2\"></span>st in a subsi<span class=\"_ _2\"></span>diar<span class=\"_ _2\"></span>y o<span class=\"_ _2\"></span>r assoc<span class=\"_ _2\"></span>iate. We ha<span class=\"_ _2\"></span>ve also i<span class=\"_ _2\"></span>nvested i<span class=\"_ _2\"></span>n some de<span class=\"_ _2\"></span>bt inst<span class=\"_ _2\"></span>rume<span class=\"_ _2\"></span>nts<span class=\"_ _2\"></span>.  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>These financial assets are all r<span class=\"_ _0\"></span>ecognised at <span class=\"ff72 ls7 wsa\">fair value<span class=\"_ _0\"></span> through </span>other comprehensive inc<span class=\"_ _0\"></span>ome (F<span class=\"_ _2\"></span>V<span class=\"_ _0\"></span>OCI)<span class=\"ff71 ls3 ws3\">. S<span class=\"_ _2\"></span>ee not<span class=\"_ _2\"></span>e 17 for t<span class=\"_ _2\"></span>he </span>relevant ac<span class=\"_ _0\"></span>counting polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, specificall<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> in relation to<span class=\"_ _0\"></span>: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls7 wsa\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> instrumen<span class=\"_ _2\"></span>ts</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls6 ws7\">Debt instruments<span class=\"_ _314\"> </span></span>Investment<span class=\"_ _2\"></span>s in equity inst<span class=\"_ _2\"></span>ruments and convertible debt instr<span class=\"_ _2\"></span>uments (e<span class=\"_ _0\"></span>xcluding listed instrument<span class=\"_ _2\"></span>s)<span class=\"_ _0\"></span> are classif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> as Level<span class=\"_ _0\"></span> 3 (of<span class=\"_ _0\"></span> the fair value hierarchy<span class=\"_ _0\"></span> describe<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> in the accounting policy of note 1<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>). Lis<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s are c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s Level 1<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Investment<span class=\"_ _2\"></span>s in financial assets are<span class=\"_ _0\"></span> as follows:<span class=\"_ _314\"> </span><table class=\"s w56b h25a\" id=\"_8395a058-2e0b-46a3-a06c-15afa9bf72b5\"><tr><td></td><td></td><td class=\"c n x4e9 y227f w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y227f w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5e0 y2280 w33 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e1 y2280 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e2 y2280 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h187 y2281 ff72 fs129 fc1 sc0 lsad wsdc\">Non<span class=\"_ _2\"></span>-current<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21a3 w56c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n x92c y21a3 w52 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">11<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x92d y21a3 w55d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td><td class=\"c n x92e y21a3 wd7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w56d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x92f y214a w56e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">11.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x930 y214a w542 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x931 y214a w56f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x674 y214b w52 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d ws97\">79<span class=\"_ _314\"> </span></div></td><td class=\"c n x932 y214b wbe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h187 y2282 ff72 fs129 fc1 sc0 ls76 ws9f\">Current<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213e w56d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x92f y213e w56e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">11.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x933 y213e wd5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">130<span class=\"_ _314\"> </span></div></td><td class=\"c n x934 y213e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x935 y214f wd5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">130<span class=\"_ _314\"> </span></div></td><td class=\"c n x936 y214f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w570 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal in<span class=\"_ _0\"></span>vestment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> financial asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x937 y2069 wc0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x938 y2069 w571 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">209<span class=\"_ _314\"> </span></div></td><td class=\"c n x939 y2069 wbe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td></tr></table><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls2 ws2 gs368\">11.1<span class=\"_ _0\"></span> Equit<span class=\"_ _2\"></span>y instruments<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs369\">Movements in the fair value o<span class=\"_ _0\"></span>f investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> equi<span class=\"_ _2\"></span>ty instr<span class=\"_ _2\"></span>uments </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs36a\">(w<span class=\"_ _2\"></span>hich a<span class=\"_ _2\"></span>re all cl<span class=\"_ _2\"></span>assi<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ied as Le<span class=\"_ _2\"></span>vel 3) a<span class=\"_ _2\"></span>re as foll<span class=\"_ _2\"></span>ows:<span class=\"_ _314\"> </span></div><div class=\"gs1ce\"><table class=\"s w572 h25b\" id=\"_271a68fb-b3ae-4ec7-9135-929bf3c12963\"><tr><td></td><td class=\"c n x4c5 y2283 w26f h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2283 w270 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5b8 y2284 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b9 y2284 w244 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2285 w342 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td class=\"c n x93a y2285 w164 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td><td class=\"c n x93b y2285 w573 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">372<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2286 w470 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">Additions<span class=\"_ _314\"> </span></div></td><td class=\"c n x93c y2286 w574 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n x93d y2286 w575 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2287 w576 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Disposals<span class=\"_ _314\"> </span></div></td><td class=\"c n x5da y2287 wa0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x93e y2287 w278 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">(<span class=\"_ _2\"></span>377<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2288 w577 h24b\"><div class=\"t m0 x1e4 h193 y2208 ff76 fs129 fc1 sc0 ls76 ws5\">Fair value<span class=\"_ _0\"></span> (los<span class=\"_ _2\"></span>ses<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>/<span class=\"_ _0\"></span>gains recognised in<span class=\"_ _0\"></span> other<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x382 y2288 w8f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n x93f y2288 w578 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">60<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2289 w1fa h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x940 y2289 w579 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ad y2289 w57a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">(1<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td class=\"c n x941 y2069 w1ad h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x942 h193 y228a ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls22 ws3 gs36b\">Fair v<span class=\"_ _2\"></span>alue of e<span class=\"_ _2\"></span>quit<span class=\"_ _2\"></span>y ins<span class=\"_ _2\"></span>trum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs36c\">In determining the<span class=\"_ _0\"></span> fair value of equity inst<span class=\"_ _2\"></span>ruments, recent marke<span class=\"_ _0\"></span>t </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs36d\">transac<span class=\"_ _2\"></span>tions are<span class=\"_ _0\"></span> used as the primar<span class=\"_ _2\"></span>y sour<span class=\"_ _0\"></span>ce of an<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>rument\u2019s value<span class=\"_ _0\"></span>. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs36e\">If no such<span class=\"_ _0\"></span> tr<span class=\"_ _2\"></span>ansactions can be identif<span class=\"_ _2\"></span>ied, lat<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formance </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs36f\">is compared<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>tation to determine<span class=\"_ _0\"></span> whether the value continues </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs370\">to be<span class=\"_ _0\"></span> suppor<span class=\"_ _2\"></span>ted. If actual financial per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> has deviated mat<span class=\"_ _0\"></span>erially </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs371\">fro<span class=\"_ _2\"></span>m expe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ion, i<span class=\"_ _2\"></span>nter<span class=\"_ _2\"></span>nal va<span class=\"_ _2\"></span>luat<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>s are ca<span class=\"_ _2\"></span>lcula<span class=\"_ _2\"></span>ted us<span class=\"_ _2\"></span>ing a ra<span class=\"_ _2\"></span>nge of<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs372\">appropriate valuation methodologies including disc<span class=\"_ _0\"></span>ounted cash flows </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs373\">and trading/<span class=\"_ _2\"></span>transac<span class=\"_ _2\"></span>tion multiples. These valuation models generate </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs374\">a range of<span class=\"_ _0\"></span> values by considering r<span class=\"_ _0\"></span>easonable changes in the k<span class=\"_ _0\"></span>ey </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs375\">unobser<span class=\"_ _2\"></span>vable inputs (e.g.,<span class=\"_ _0\"></span> terminal growth rates and discount<span class=\"_ _0\"></span> rates). </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs376\">The investment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are recognised at<span class=\"_ _0\"></span> the lowest value in the range.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs377\">The fair values<span class=\"_ _0\"></span> of the main inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tments are as<span class=\"_ _0\"></span> follows:<span class=\"_ _314\"> </span></div><div class=\"gs378\"><table class=\"s w339 h25c\" id=\"_e189d005-bc1d-40d7-9ede-032cff292ab0\"><tr><td></td><td class=\"c n x4e9 y228b w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y228b w270 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y228c w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y228c w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w57b h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Di<span class=\"_ _2\"></span>git<span class=\"_ _2\"></span>al A<span class=\"_ _2\"></span>sset H<span class=\"_ _2\"></span>ol<span class=\"_ _2\"></span>ding<span class=\"_ _2\"></span>s, LLC<span class=\"_ _314\"> </span></div></td><td class=\"c n x943 y2066 w542 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x944 y2066 w6a h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w57c h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Finbourne T<span class=\"_ _3\"></span>echno<span class=\"_ _2\"></span>logy Limited<span class=\"_ _314\"> </span></div></td><td class=\"c n x945 y214c w57d h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">14<span class=\"_ _314\"> </span></div></td><td class=\"c n x946 y214c wdc h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">14<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2075 w57e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Fnalit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> Internat<span class=\"_ _2\"></span>ional<span class=\"_ _0\"></span> Limited<span class=\"_ _314\"> </span></div></td><td class=\"c n x947 y2075 w102 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n x948 y2075 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w57f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">OpenE<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span>change, Inc.<span class=\"_ _314\"> </span></div></td><td class=\"c n x949 y2068 w9f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td><td class=\"c n x94a y2068 w50 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w580 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Module Q, Inc.<span class=\"_ _314\"> </span></div></td><td class=\"c n x94b y2069 w581 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _9f\"> </span><span class=\"ff76\">6<span class=\"_ _314\"> </span></span></div></td><td></td></tr></table></div><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls51 ws73 gs379\">11.<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span> Debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div><div class=\"gs37a\"><table class=\"s w339 h25b\" id=\"_1285d74e-5bee-40a5-9e07-53ee89251512\"><tr><td></td><td class=\"c n x4e9 y2283 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y2283 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y2284 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y2284 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228d w342 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td class=\"c n x94c y228d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x94d y228d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2286 w582 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">Additions</div><div class=\"t m0 x94e h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x73f y2286 w583 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">250<span class=\"_ _314\"> </span></div></td><td class=\"c n x94f y2286 w50 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y228e w582 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Disposals</div><div class=\"t m0 x94e h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x73f y228e w584 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6e ws98\">(127<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x950 y228e w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2288 w585 h226\"><div class=\"t m0 x1e4 h193 y2116 ff76 fs129 fc1 sc0 ls76 ws5\">Fair value<span class=\"_ _0\"></span> gains recognised in other<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x951 y2288 w586 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n x952 y2288 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w349 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x953 y228f w9f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td><td class=\"c n x954 y228f w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td class=\"c n x955 y2069 w587 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa7 wsd3\">148<span class=\"_ _314\"> </span></div></td><td></td></tr></table></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls4 ws3 gs37b\">8<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs37c\">1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng 2025<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p inv<span class=\"_ _2\"></span>est<span class=\"_ _2\"></span>ed in a<span class=\"_ _2\"></span>nd di<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>ted f<span class=\"_ _2\"></span>rom F<span class=\"_ _2\"></span>ren<span class=\"_ _2\"></span>ch Go<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>nmen<span class=\"_ _2\"></span>t bo<span class=\"_ _2\"></span>nds<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div>17<span class=\"_ _3\"></span>.1<span class=\"_ _0\"></span> Financial assets<span class=\"_ _314\"> </span><table class=\"s w75d h278\" id=\"_ab9df061-a71d-452d-9778-d906ec3f1636\"><tr><td></td><td class=\"c n xbfa y2370 w75e h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls27 ws43\">Amortised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n xbfb y2370 w75f h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls119 ws18f\">F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I<span class=\"_ _314\"> </span></div></td><td class=\"c n xbfc y2370 w3a3 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls110 ws183\">F<span class=\"_ _2\"></span>VPL<span class=\"_ _314\"> </span></div></td><td class=\"c n xbfd y2370 w464 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2059 w186 h21c\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xbfe y2059 w34 h21b\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xbff y2059 w34 h21b\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc00 y2059 w34 h21b\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc01 y2059 w34 h21b\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2180 w760 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial assets</div><div class=\"t m0 xc02 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2372 w761 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member trading assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc03 y2372 w6a h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc04 y2372 w4f h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc05 y2372 w762 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc06 y2372 w762 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2182 w763 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther r<span class=\"_ _0\"></span>eceivables from clearing members<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc07 y2182 w764 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">4,60<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xc08 y2182 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc09 y2182 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0a y2182 w764 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">4<span class=\"_ _2\"></span>,601<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2183 w765 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther financial assets</span></div><div class=\"t m0 xc0b h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0c y205d w766 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls75 ws9e\">319<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0d y205d w767 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">24,<span class=\"_ _2\"></span>33<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0e y205d w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0f y205d w768 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>,64<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2373 w769 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member cash<span class=\"_ _0\"></span> and cash equivalents</span></div><div class=\"t m0 xc10 h194 y20bd ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xc11 y227a w76a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">65,553<span class=\"_ _314\"> </span></div></td><td class=\"c n xc12 y227a w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc13 y227a w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc14 y227a w76b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">65,<span class=\"_ _2\"></span>553<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2185 w76c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> clearing member asse<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc15 y2185 w76d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">70,<span class=\"_ _2\"></span>473<span class=\"_ _314\"> </span></div></td><td class=\"c n xc16 y2185 w76e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>,3<span class=\"_ _2\"></span>30<span class=\"_ _314\"> </span></div></td><td class=\"c n xc17 y2185 w76f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">662,<span class=\"_ _2\"></span>458<span class=\"_ _314\"> </span></div></td><td class=\"c n xc18 y2185 w770 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls83 wsb0\">7<span class=\"_ _2\"></span>5<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2186 w771 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Receivables</div><div class=\"t m0 xc19 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1a y225d w359 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">1,564<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1b y225d w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1c y225d w33a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1d y225d w772 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>,582<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2374 wdb h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1e y2374 wdd h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">3,949<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1f y2374 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc20 y2374 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc21 y2374 wdd h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">3,949<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2188 w773 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc22 y2188 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc23 y2188 w1ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td><td class=\"c n xc24 y2188 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc25 y2188 w1ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y218a w774 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc26 y218a w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc27 y218a w775 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">148<span class=\"_ _314\"> </span></div></td><td class=\"c n xc28 y218a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc29 y218a w775 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">148<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2375 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218c w776 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y218c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2b y218c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2c y218c w777 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2d y218c w777 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2376 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22cc w778 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y22cc w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2f y22cc w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc30 y22cc w779 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td><td class=\"c n xc31 y22cc w779 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w77a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y213d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y213d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc34 y213d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc35 y213d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2176 w77b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y2176 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y2176 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc34 y2176 w5c3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n xc36 y2176 wa5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y20da w77c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> deriv<span class=\"_ _2\"></span>ative financial instruments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc37 y20da w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc38 y20da w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc39 y20da w157 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls75 ws9e\">196<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3a y20da wc4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls75 ws9e\">196<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w77d h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3b y2069 w77e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">75,986<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3c y2069 w77f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>,5<span class=\"_ _2\"></span>39<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3d y2069 w780 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">6<span class=\"_ _2\"></span>62,672<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3e y2069 w781 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaf wsd9\">7<span class=\"_ _2\"></span>63<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>97<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>A<span class=\"_ _2\"></span>t 31 De<span class=\"_ _2\"></span>cem<span class=\"_ _2\"></span>ber 20<span class=\"_ _2\"></span>25, th<span class=\"_ _2\"></span>ere a<span class=\"_ _2\"></span>re no pr<span class=\"_ _2\"></span>ovi<span class=\"_ _2\"></span>sio<span class=\"_ _2\"></span>ns for e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ed cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t los<span class=\"_ _2\"></span>ses i<span class=\"_ _2\"></span>n rela<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on to an<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e CCP b<span class=\"_ _2\"></span>usi<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>ses\u2019 f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>anc<span class=\"_ _2\"></span>ial a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts h<span class=\"_ _2\"></span>eld a<span class=\"_ _2\"></span>t amo<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t or F<span class=\"_ _2\"></span>VO<span class=\"_ _2\"></span>CI (20<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4: n<span class=\"_ _2\"></span>il)<span class=\"_ _2\"></span>. The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p clo<span class=\"_ _2\"></span>sel<span class=\"_ _2\"></span>y monitors its CCP investment portfolio and invests only in<span class=\"_ _0\"></span> government debt and<span class=\"_ _0\"></span> other collateralised instruments where the risk<span class=\"_ _0\"></span> of loss is<span class=\"_ _0\"></span> minimal. This includes<span class=\"_ _0\"></span> direct investment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> in highly rated, regulatory qualify<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> sovereign bonds and<span class=\"_ _0\"></span> supranational debt; investments in tri-par<span class=\"_ _2\"></span>ty and bilateral<span class=\"_ _0\"></span> reverse repos (<span class=\"_ _0\"></span>receiving high-<span class=\"_ _2\"></span>quality government securities as<span class=\"_ _0\"></span> collateral); and, in<span class=\"_ _0\"></span> cert<span class=\"_ _2\"></span>ain jurisdictions<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> deposit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> the central bank. The small<span class=\"_ _0\"></span> proport<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> of cash that<span class=\"_ _0\"></span> is invested unsecured<span class=\"_ _0\"></span> is placed for<span class=\"_ _0\"></span> short durations with highly rated count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ties where<span class=\"_ _0\"></span> limit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are applied with res<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t to c<span class=\"_ _2\"></span>red<span class=\"_ _2\"></span>it qu<span class=\"_ _2\"></span>ali<span class=\"_ _2\"></span>ty, co<span class=\"_ _2\"></span>nce<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>at<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>nd ten<span class=\"_ _2\"></span>or. Th<span class=\"_ _2\"></span>ere wa<span class=\"_ _2\"></span>s no si<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t inc<span class=\"_ _2\"></span>rea<span class=\"_ _2\"></span>se in cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t ri<span class=\"_ _2\"></span>sk in t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r and n<span class=\"_ _2\"></span>one o<span class=\"_ _2\"></span>f the a<span class=\"_ _2\"></span>ss<span class=\"_ _2\"></span>ets a<span class=\"_ _2\"></span>re pa<span class=\"_ _2\"></span>st du<span class=\"_ _2\"></span>e (2024: n<span class=\"_ _2\"></span>il)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>Clearing<span class=\"_ _0\"></span> member cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> represents amounts received from<span class=\"_ _0\"></span> the clearing members to<span class=\"_ _0\"></span> cover initial and<span class=\"_ _0\"></span> variation margins and<span class=\"_ _0\"></span> default fund contributions that are<span class=\"_ _0\"></span> not invested in bonds. These<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are deposited<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th<span class=\"_ _0\"></span> banks, including central banks, or<span class=\"_ _0\"></span> invested securely in<span class=\"_ _0\"></span> shor<span class=\"_ _2\"></span>t-term r<span class=\"_ _0\"></span>everse repurchase<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts (re<span class=\"_ _0\"></span>verse repos).<span class=\"_ _0\"></span> O<span class=\"_ _2\"></span>ther<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> represent the CCP investment in<span class=\"_ _0\"></span> government bonds.<span class=\"_ _314\"> </span>3 <span class=\"_ _7\"> </span>Prepayments of \u00a3265<span class=\"_ _0\"></span> million (non-cur<span class=\"_ _2\"></span>rent: \u00a35<span class=\"_ _0\"></span>9 million and<span class=\"_ _0\"></span> current: \u00a3206 million), other<span class=\"_ _0\"></span> taxes receivable of<span class=\"_ _0\"></span> \u00a397 million<span class=\"_ _0\"></span> (all current) and<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> assets of \u00a35 million<span class=\"_ _0\"></span> (all current)<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> receivables are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> as financial instrument<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span><table class=\"s w782 h279\" id=\"_5fed8258-07eb-4b19-b806-3fbeb24a2fbb\"><tr><td></td><td class=\"c n xc3f y2377 w783 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls27 ws43\">Amor<span class=\"_ _2\"></span>tised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n xc40 y2377 w784 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsff ws148\">F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I<span class=\"_ _314\"> </span></div></td><td class=\"c n xc41 y2377 w785 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls7a wsbe\">F<span class=\"_ _2\"></span>VPL<span class=\"_ _314\"> </span></div></td><td class=\"c n xc42 y2377 w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2275 w15d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n xc43 y2275 w35 h234\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc44 y2275 w5fb h234\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x23f y2275 w35 h234\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc45 y2275 w35 h234\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2378 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial assets<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y205a w761 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member trading assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc03 y205a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc04 y205a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc46 y205a w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">59<span class=\"_ _2\"></span>4,555<span class=\"_ _314\"> </span></div></td><td class=\"c n xc47 y205a w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">59<span class=\"_ _2\"></span>4,555<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2379 w763 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther r<span class=\"_ _0\"></span>eceivables from clearing members<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc48 y2379 w787 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsad wsdc\">6<span class=\"_ _2\"></span>,882<span class=\"_ _314\"> </span></div></td><td class=\"c n xc49 y2379 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4a y2379 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4b y2379 w788 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsad wsdc\">6,8<span class=\"_ _2\"></span>82<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y205c w789 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther financial assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y205c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4c y205c w78a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>,13<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4d y205c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4e y205c w78a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>,13<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y205d w78b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member cash<span class=\"_ _0\"></span> and cash equivalents<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc4f y205d w78c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">7<span class=\"_ _2\"></span>2,90<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td><td class=\"c n xc50 y205d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc51 y205d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc52 y205d w78d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">7<span class=\"_ _2\"></span>2,90<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y227a w76c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> clearing member asse<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc53 y227a w78e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">79,791<span class=\"_ _314\"> </span></div></td><td class=\"c n xc54 y227a w78a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>3<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xc55 y227a w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594<span class=\"_ _2\"></span>,555<span class=\"_ _314\"> </span></div></td><td class=\"c n xc56 y227a w78f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">692,<span class=\"_ _2\"></span>48<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2070 w790 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Receivables</div><div class=\"t m0 xc19 h194 y20d4 ff76 fs12a fc1 sc0 lsa6 wsd2\">1,2<span class=\"_ _314\"> </span></div></td><td class=\"c n xc57 y2070 w791 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,51<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td><td class=\"c n xc58 y2070 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc59 y2070 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5a y2070 w792 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>515<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y225d wdb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5b y225d wde h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 wsdb\">3,<span class=\"_ _2\"></span>475<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5c y225d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5d y225d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5e y225d w793 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 wsdb\">3,<span class=\"_ _2\"></span>475<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21b9 w773 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc22 y21b9 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5f y21b9 wd7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td><td class=\"c n xc60 y21b9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc61 y21b9 w4a7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2062 w774 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc26 y2062 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc62 y2062 w56f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc63 y2062 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc64 y2062 w50 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237a ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21ba w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y21ba w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y21ba w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc65 y21ba w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xc66 y21ba w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y214a w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y214a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2b y214a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc67 y214a w794 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td><td class=\"c n xc68 y214a w794 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237c ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y214c w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y214c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc69 y214c w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6a y214c w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y213e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y213e w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc69 y213e w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6a y213e w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2068 w77c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> deriv<span class=\"_ _2\"></span>ative financial instruments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc37 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc38 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6b y2068 w52f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">113<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6c y2068 w52f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">113<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w77d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6d y2069 w795 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls61 ws86\">84<span class=\"_ _2\"></span>,781<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6e y2069 w796 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>92<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6f y2069 w797 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>68<span class=\"_ _314\"> </span></div></td><td class=\"c n xc70 y2069 w798 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">697<span class=\"_ _0\"></span>,6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>Prepayments of \u00a32<span class=\"_ _0\"></span>41 million<span class=\"_ _0\"></span> (non-<span class=\"_ _2\"></span>current: \u00a323 million<span class=\"_ _0\"></span> and current: \u00a3218 million) and<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>t assets o<span class=\"_ _0\"></span>f \u00a316 million (non-current: \u00a311 million and<span class=\"_ _0\"></span> current: \u00a35 million)<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> receivables are<span class=\"_ _0\"></span> not classified as financial instruments. 2 <span class=\"_ _7\"> </span>Fo<span class=\"_ _2\"></span>r 2024, rec<span class=\"_ _2\"></span>eiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>es cl<span class=\"_ _2\"></span>ass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s fi<span class=\"_ _2\"></span>nan<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>l ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s have b<span class=\"_ _2\"></span>een r<span class=\"_ _2\"></span>e-<span class=\"_ _2\"></span>pre<span class=\"_ _2\"></span>sen<span class=\"_ _2\"></span>ted to e<span class=\"_ _2\"></span>xclu<span class=\"_ _2\"></span>de ot<span class=\"_ _2\"></span>her t<span class=\"_ _2\"></span>axe<span class=\"_ _2\"></span>s rec<span class=\"_ _2\"></span>eiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e of \u00a368 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>see n<span class=\"_ _2\"></span>ote 1<span class=\"_ _2\"></span>3).<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-530": {
   "value": "11<span class=\"_ _2\"></span>. Inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment<span class=\"_ _2\"></span>s in f<span class=\"_ _2\"></span>inancial assets<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>roup ho<span class=\"_ _2\"></span>lds eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y inves<span class=\"_ _2\"></span>tment<span class=\"_ _2\"></span>s in a num<span class=\"_ _2\"></span>ber of co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>ies whi<span class=\"_ _2\"></span>ch fal<span class=\"_ _2\"></span>l below t<span class=\"_ _2\"></span>he level t<span class=\"_ _2\"></span>hat wo<span class=\"_ _2\"></span>uld resu<span class=\"_ _2\"></span>lt in rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>tion o<span class=\"_ _2\"></span>f an intere<span class=\"_ _2\"></span>st in a subsi<span class=\"_ _2\"></span>diar<span class=\"_ _2\"></span>y o<span class=\"_ _2\"></span>r assoc<span class=\"_ _2\"></span>iate. We ha<span class=\"_ _2\"></span>ve also i<span class=\"_ _2\"></span>nvested i<span class=\"_ _2\"></span>n some de<span class=\"_ _2\"></span>bt inst<span class=\"_ _2\"></span>rume<span class=\"_ _2\"></span>nts<span class=\"_ _2\"></span>.  <span class=\"_ _73\"> </span>Accounting policy<span class=\"_ _314\"> </span>These financial assets are all r<span class=\"_ _0\"></span>ecognised at <span class=\"ff72 ls7 wsa\">fair value<span class=\"_ _0\"></span> through </span>other comprehensive inc<span class=\"_ _0\"></span>ome (F<span class=\"_ _2\"></span>V<span class=\"_ _0\"></span>OCI)<span class=\"ff71 ls3 ws3\">. S<span class=\"_ _2\"></span>ee not<span class=\"_ _2\"></span>e 17 for t<span class=\"_ _2\"></span>he </span>relevant ac<span class=\"_ _0\"></span>counting polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, specificall<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> in relation to<span class=\"_ _0\"></span>: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls7 wsa\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> instrumen<span class=\"_ _2\"></span>ts</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls6 ws7\">Debt instruments<span class=\"_ _314\"> </span></span>Investment<span class=\"_ _2\"></span>s in equity inst<span class=\"_ _2\"></span>ruments and convertible debt instr<span class=\"_ _2\"></span>uments (e<span class=\"_ _0\"></span>xcluding listed instrument<span class=\"_ _2\"></span>s)<span class=\"_ _0\"></span> are classif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> as Level<span class=\"_ _0\"></span> 3 (of<span class=\"_ _0\"></span> the fair value hierarchy<span class=\"_ _0\"></span> describe<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> in the accounting policy of note 1<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>). Lis<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s are c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s Level 1<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span><div class=\"t m0 h5 ff71 fs2 fc1 sc0 ls6 ws7 gs362\">Investment<span class=\"_ _2\"></span>s in financial assets are<span class=\"_ _0\"></span> as follows:<span class=\"_ _314\"> </span></div><div class=\"gs363\"><table class=\"s w56b h25a\" id=\"_8395a058-2e0b-46a3-a06c-15afa9bf72b5\"><tr><td></td><td></td><td class=\"c n x4e9 y227f w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y227f w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5e0 y2280 w33 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e1 y2280 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff72 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e2 y2280 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff71 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h187 y2281 ff72 fs129 fc1 sc0 lsad wsdc\">Non<span class=\"_ _2\"></span>-current<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21a3 w56c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n x92c y21a3 w52 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa3 wsce\">11<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x92d y21a3 w55d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td><td class=\"c n x92e y21a3 wd7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214a w56d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x92f y214a w56e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">11.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x930 y214a w542 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x931 y214a w56f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x674 y214b w52 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d ws97\">79<span class=\"_ _314\"> </span></div></td><td class=\"c n x932 y214b wbe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h187 y2282 ff72 fs129 fc1 sc0 ls76 ws9f\">Current<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213e w56d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls6c ws7e\">Debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x92f y213e w56e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls75 ws9e\">11.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x933 y213e wd5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">130<span class=\"_ _314\"> </span></div></td><td class=\"c n x934 y213e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x935 y214f wd5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6c ws96\">130<span class=\"_ _314\"> </span></div></td><td class=\"c n x936 y214f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w570 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal in<span class=\"_ _0\"></span>vestment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> financial asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x937 y2069 wc0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x938 y2069 w571 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff72 fs129 fc1 sc0 lsad wsdc\">209<span class=\"_ _314\"> </span></div></td><td class=\"c n x939 y2069 wbe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff71 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td></tr></table></div>11.1<span class=\"_ _0\"></span> Equit<span class=\"_ _2\"></span>y instruments<span class=\"_ _314\"> </span>Movements in the fair value o<span class=\"_ _0\"></span>f investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> equi<span class=\"_ _2\"></span>ty instr<span class=\"_ _2\"></span>uments (w<span class=\"_ _2\"></span>hich a<span class=\"_ _2\"></span>re all cl<span class=\"_ _2\"></span>assi<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ied as Le<span class=\"_ _2\"></span>vel 3) a<span class=\"_ _2\"></span>re as foll<span class=\"_ _2\"></span>ows:<span class=\"_ _314\"> </span><table class=\"s w572 h25b\" id=\"_271a68fb-b3ae-4ec7-9135-929bf3c12963\"><tr><td></td><td class=\"c n x4c5 y2283 w26f h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2283 w270 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5b8 y2284 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b9 y2284 w244 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2285 w342 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td class=\"c n x93a y2285 w164 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td><td class=\"c n x93b y2285 w573 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">372<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2286 w470 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">Additions<span class=\"_ _314\"> </span></div></td><td class=\"c n x93c y2286 w574 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n x93d y2286 w575 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2287 w576 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Disposals<span class=\"_ _314\"> </span></div></td><td class=\"c n x5da y2287 wa0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n x93e y2287 w278 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">(<span class=\"_ _2\"></span>377<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2288 w577 h24b\"><div class=\"t m0 x1e4 h193 y2208 ff76 fs129 fc1 sc0 ls76 ws5\">Fair value<span class=\"_ _0\"></span> (los<span class=\"_ _2\"></span>ses<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>/<span class=\"_ _0\"></span>gains recognised in<span class=\"_ _0\"></span> other<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x382 y2288 w8f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n x93f y2288 w578 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">60<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2289 w1fa h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x940 y2289 w579 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x6ad y2289 w57a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">(1<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td class=\"c n x941 y2069 w1ad h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x942 h193 y228a ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></td></tr></table>Fair v<span class=\"_ _2\"></span>alue of e<span class=\"_ _2\"></span>quit<span class=\"_ _2\"></span>y ins<span class=\"_ _2\"></span>trum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>In determining the<span class=\"_ _0\"></span> fair value of equity inst<span class=\"_ _2\"></span>ruments, recent marke<span class=\"_ _0\"></span>t transac<span class=\"_ _2\"></span>tions are<span class=\"_ _0\"></span> used as the primar<span class=\"_ _2\"></span>y sour<span class=\"_ _0\"></span>ce of an<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>rument\u2019s value<span class=\"_ _0\"></span>. If no such<span class=\"_ _0\"></span> tr<span class=\"_ _2\"></span>ansactions can be identif<span class=\"_ _2\"></span>ied, lat<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formance is compared<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>tation to determine<span class=\"_ _0\"></span> whether the value continues to be<span class=\"_ _0\"></span> suppor<span class=\"_ _2\"></span>ted. If actual financial per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> has deviated mat<span class=\"_ _0\"></span>erially fro<span class=\"_ _2\"></span>m expe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ion, i<span class=\"_ _2\"></span>nter<span class=\"_ _2\"></span>nal va<span class=\"_ _2\"></span>luat<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>s are ca<span class=\"_ _2\"></span>lcula<span class=\"_ _2\"></span>ted us<span class=\"_ _2\"></span>ing a ra<span class=\"_ _2\"></span>nge of<span class=\"_ _2\"></span> appropriate valuation methodologies including disc<span class=\"_ _0\"></span>ounted cash flows and trading/<span class=\"_ _2\"></span>transac<span class=\"_ _2\"></span>tion multiples. These valuation models generate a range of<span class=\"_ _0\"></span> values by considering r<span class=\"_ _0\"></span>easonable changes in the k<span class=\"_ _0\"></span>ey unobser<span class=\"_ _2\"></span>vable inputs (e.g.,<span class=\"_ _0\"></span> terminal growth rates and discount<span class=\"_ _0\"></span> rates). The investment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are recognised at<span class=\"_ _0\"></span> the lowest value in the range.<span class=\"_ _314\"> </span>The fair values<span class=\"_ _0\"></span> of the main inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tments are as<span class=\"_ _0\"></span> follows:<span class=\"_ _314\"> </span><table class=\"s w339 h25c\" id=\"_e189d005-bc1d-40d7-9ede-032cff292ab0\"><tr><td></td><td class=\"c n x4e9 y228b w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y228b w270 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y228c w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y228c w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w57b h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Di<span class=\"_ _2\"></span>git<span class=\"_ _2\"></span>al A<span class=\"_ _2\"></span>sset H<span class=\"_ _2\"></span>ol<span class=\"_ _2\"></span>ding<span class=\"_ _2\"></span>s, LLC<span class=\"_ _314\"> </span></div></td><td class=\"c n x943 y2066 w542 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x944 y2066 w6a h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w57c h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Finbourne T<span class=\"_ _3\"></span>echno<span class=\"_ _2\"></span>logy Limited<span class=\"_ _314\"> </span></div></td><td class=\"c n x945 y214c w57d h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">14<span class=\"_ _314\"> </span></div></td><td class=\"c n x946 y214c wdc h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">14<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2075 w57e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Fnalit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> Internat<span class=\"_ _2\"></span>ional<span class=\"_ _0\"></span> Limited<span class=\"_ _314\"> </span></div></td><td class=\"c n x947 y2075 w102 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n x948 y2075 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w57f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">OpenE<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span>change, Inc.<span class=\"_ _314\"> </span></div></td><td class=\"c n x949 y2068 w9f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td><td class=\"c n x94a y2068 w50 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w580 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Module Q, Inc.<span class=\"_ _314\"> </span></div></td><td class=\"c n x94b y2069 w581 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _9f\"> </span><span class=\"ff76\">6<span class=\"_ _314\"> </span></span></div></td><td></td></tr></table>11.<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span> Debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span><table class=\"s w339 h25b\" id=\"_1285d74e-5bee-40a5-9e07-53ee89251512\"><tr><td></td><td class=\"c n x4e9 y2283 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y2283 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y2284 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y2284 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228d w342 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td class=\"c n x94c y228d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x94d y228d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2286 w582 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">Additions</div><div class=\"t m0 x94e h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x73f y2286 w583 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">250<span class=\"_ _314\"> </span></div></td><td class=\"c n x94f y2286 w50 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y228e w582 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Disposals</div><div class=\"t m0 x94e h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x73f y228e w584 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6e ws98\">(127<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x950 y228e w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2288 w585 h226\"><div class=\"t m0 x1e4 h193 y2116 ff76 fs129 fc1 sc0 ls76 ws5\">Fair value<span class=\"_ _0\"></span> gains recognised in other<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x951 y2288 w586 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n x952 y2288 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w349 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n x953 y228f w9f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td><td class=\"c n x954 y228f w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td class=\"c n x955 y2069 w587 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa7 wsd3\">148<span class=\"_ _314\"> </span></div></td><td></td></tr></table>8<span class=\"_ _314\"> </span>1 <span class=\"_ _c\"> </span>D<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng 2025<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p inv<span class=\"_ _2\"></span>est<span class=\"_ _2\"></span>ed in a<span class=\"_ _2\"></span>nd di<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>ted f<span class=\"_ _2\"></span>rom F<span class=\"_ _2\"></span>ren<span class=\"_ _2\"></span>ch Go<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>nmen<span class=\"_ _2\"></span>t bo<span class=\"_ _2\"></span>nds<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The Group has a<span class=\"_ _0\"></span> number of financial assets and f<span class=\"_ _2\"></span>inancial liabilities. Financial assets mainly consist of clearing member assets<span class=\"_ _2\"></span>, r<span class=\"_ _0\"></span>eceivables<span class=\"_ _2\"></span>, and cas<span class=\"_ _0\"></span>h and cash<span class=\"_ _0\"></span> equivalents. Financial li<span class=\"_ _0\"></span>abilities are main<span class=\"_ _0\"></span>ly clearing member balanc<span class=\"_ _0\"></span>es, payables, and borrowin<span class=\"_ _0\"></span>gs.<span class=\"_ _314\"> </span>This n<span class=\"_ _2\"></span>ote also d<span class=\"_ _2\"></span>etail<span class=\"_ _2\"></span>s our f<span class=\"_ _2\"></span>inan<span class=\"_ _2\"></span>cial ri<span class=\"_ _2\"></span>sk mana<span class=\"_ _2\"></span>gemen<span class=\"_ _2\"></span>t stra<span class=\"_ _2\"></span>tegy, such as<span class=\"_ _2\"></span> how we m<span class=\"_ _2\"></span>anag<span class=\"_ _2\"></span>e our exp<span class=\"_ _2\"></span>osure to c<span class=\"_ _2\"></span>apita<span class=\"_ _2\"></span>l, cred<span class=\"_ _2\"></span>it, c<span class=\"_ _2\"></span>ountr<span class=\"_ _2\"></span>y, liqu<span class=\"_ _2\"></span>idit<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d market<span class=\"_ _0\"></span> risk<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>Recognition and<span class=\"_ _0\"></span> measurement<span class=\"_ _314\"> </span>Financial assets and financial liabilities<span class=\"ff76 ls7 wsa\"> are initially recognised at </span>fair value.<span class=\"_ _0\"></span> The Group classif<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s financial instrument<span class=\"_ _2\"></span>s at: amort<span class=\"_ _2\"></span>ised cost; fair value through other comprehens<span class=\"_ _0\"></span>ive income (F<span class=\"_ _2\"></span>V<span class=\"_ _0\"></span>OCI<span class=\"_ _2\"></span>); or f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue t<span class=\"_ _2\"></span>hroug<span class=\"_ _2\"></span>h prof<span class=\"_ _2\"></span>it o<span class=\"_ _2\"></span>r los<span class=\"_ _2\"></span>s (F<span class=\"_ _2\"></span>VP<span class=\"_ _2\"></span>L). Th<span class=\"_ _2\"></span>e clas<span class=\"_ _2\"></span>sif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on of financial asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> depends on the Group\u2019<span class=\"_ _0\"></span>s business model for<span class=\"_ _0\"></span> managing its f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments and whether or not<span class=\"_ _0\"></span> the cash flow<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> generated are \u201csolely payments of principal and<span class=\"_ _0\"></span> interest\u201d.<span class=\"_ _314\"> </span>Financial assets <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> cost<span class=\"ff76 ls6 ws7\"> are financial assets that </span></span>are h<span class=\"_ _2\"></span>eld in o<span class=\"_ _2\"></span>rder to co<span class=\"_ _2\"></span>lle<span class=\"_ _2\"></span>ct t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s and t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual ter<span class=\"_ _2\"></span>ms gi<span class=\"_ _2\"></span>ve ri<span class=\"_ _2\"></span>se to ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>lows t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>re sole<span class=\"_ _2\"></span>ly pa<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s of principal and<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> These include: cash and<span class=\"_ _0\"></span> cash equivalent<span class=\"_ _2\"></span>s; r<span class=\"_ _0\"></span>eceivables; clearing member trading balances relating to<span class=\"_ _0\"></span> cer<span class=\"_ _2\"></span>tain collat<span class=\"_ _0\"></span>eralised transac<span class=\"_ _2\"></span>tions; and other receivables from clearing<span class=\"_ _0\"></span> member<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the CCP businesses. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls3\">Fin<span class=\"_ _2\"></span>ancia<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts at F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I \u2013 debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rume<span class=\"_ _2\"></span>nts</span><span class=\"ls6 ws7\"> are assets where </span>th<span class=\"_ _2\"></span>e obje<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive i<span class=\"_ _2\"></span>s achi<span class=\"_ _2\"></span>eved by b<span class=\"_ _2\"></span>oth c<span class=\"_ _2\"></span>olle<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual c<span class=\"_ _2\"></span>ash flow<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and selling the asset. The contractual cash f<span class=\"_ _2\"></span>lows r<span class=\"_ _0\"></span>eceived are solely payments of principal and<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> They include quoted de<span class=\"_ _0\"></span>bt instrument<span class=\"_ _2\"></span>s (pr<span class=\"_ _0\"></span>edominantly government bonds<span class=\"_ _0\"></span>) held by the<span class=\"_ _0\"></span> CCP businesses, which are used<span class=\"_ _0\"></span> under the business mo<span class=\"_ _2\"></span>del to bo<span class=\"_ _2\"></span>th co<span class=\"_ _2\"></span>llec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s and, o<span class=\"_ _2\"></span>n occ<span class=\"_ _2\"></span>asio<span class=\"_ _2\"></span>n, to pr<span class=\"_ _2\"></span>ofi<span class=\"_ _2\"></span>t fro<span class=\"_ _2\"></span>m the<span class=\"_ _2\"></span>ir sal<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span>Interest received<span class=\"_ _0\"></span> from CCP businesses\u2019<span class=\"_ _0\"></span> clearing member financial asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> is recognised in the<span class=\"_ _0\"></span> income statement as net treasury income. Where<span class=\"_ _0\"></span> negati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> interest rates apply<span class=\"_ _0\"></span>, the int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed as t<span class=\"_ _2\"></span>reas<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>y exp<span class=\"_ _2\"></span>ense w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin ne<span class=\"_ _2\"></span>t trea<span class=\"_ _2\"></span>sur<span class=\"_ _2\"></span>y inc<span class=\"_ _2\"></span>ome. A<span class=\"_ _2\"></span>ny accu<span class=\"_ _2\"></span>mula<span class=\"_ _2\"></span>ted pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t or lo<span class=\"_ _2\"></span>ss pre<span class=\"_ _2\"></span>viou<span class=\"_ _2\"></span>sly r<span class=\"_ _2\"></span>ecog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in other comprehens<span class=\"_ _0\"></span>ive income is r<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>ycled t<span class=\"_ _0\"></span>o the income st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent o<span class=\"_ _2\"></span>n derec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls7 wsa\">Financial assets at FVOCI \u2013<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y instruments<span class=\"ff76\"> are strategic </span></span>eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y in<span class=\"_ _2\"></span>vest<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h are hel<span class=\"_ _2\"></span>d for th<span class=\"_ _2\"></span>e long t<span class=\"_ _2\"></span>erm bu<span class=\"_ _2\"></span>t do no<span class=\"_ _2\"></span>t gi<span class=\"_ _2\"></span>ve th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p cont<span class=\"_ _2\"></span>rol or s<span class=\"_ _2\"></span>igni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t inf<span class=\"_ _2\"></span>lue<span class=\"_ _2\"></span>nce. Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has irrevocably elected to classify these invest<span class=\"_ _2\"></span>ments as FVOCI.<span class=\"_ _314\"> </span>Dividend<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> received from these inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tments are r<span class=\"_ _0\"></span>ecognised in the income statement as<span class=\"_ _0\"></span> income from equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ments when the right of r<span class=\"_ _0\"></span>eceipt has been established. Accumulat<span class=\"_ _0\"></span>ed gains or losses on equity ins<span class=\"_ _2\"></span>truments remain in<span class=\"_ _0\"></span> equi<span class=\"_ _2\"></span>ty on derecognition and are<span class=\"_ _0\"></span> not recycled through the income statement. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at FVPL</span><span class=\"ls6 ws7\"> include all other financial assets </span>not c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t or F<span class=\"_ _2\"></span>VOCI<span class=\"_ _2\"></span>. Th<span class=\"_ _2\"></span>ey incl<span class=\"_ _2\"></span>ude CC<span class=\"_ _2\"></span>P businesses\u2019 clearing<span class=\"_ _0\"></span> member trading balances including der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ves, a<span class=\"_ _2\"></span>s well a<span class=\"_ _2\"></span>s equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y and d<span class=\"_ _2\"></span>ebt in<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t are mar<span class=\"_ _2\"></span>ked to ma<span class=\"_ _2\"></span>rket on a da<span class=\"_ _2\"></span>ily b<span class=\"_ _2\"></span>asis<span class=\"_ _314\"> </span><span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Financial liabilities <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial liabilities at FVPL</span><span class=\"ls6 ws7\"> include the CCP<span class=\"_ _0\"></span> businesses\u2019 </span>clearing member trading balances, including<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives, as wel<span class=\"_ _2\"></span>l as equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>at are ma<span class=\"_ _2\"></span>rked to ma<span class=\"_ _2\"></span>rket on a da<span class=\"_ _2\"></span>ily b<span class=\"_ _2\"></span>asis<span class=\"_ _2\"></span>. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial liabilities at amortised cost</span><span class=\"ls6 ws7\"> are all<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial </span>liabilities that are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> at F<span class=\"_ _2\"></span>VPL. They include pa<span class=\"_ _0\"></span>yables<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> borrowings and other payables to clearing members.<span class=\"_ _314\"> </span>Impairment<span class=\"_ _314\"> </span>The Group adopts a f<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>ward-<span class=\"_ _2\"></span>looking approach<span class=\"_ _0\"></span> to estimating impairment losses on financial assets. An expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> credit loss (E<span class=\"_ _2\"></span>CL) a<span class=\"_ _2\"></span>rise<span class=\"_ _2\"></span>s if th<span class=\"_ _2\"></span>e cas<span class=\"_ _2\"></span>h fl<span class=\"_ _2\"></span>ows t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to recei<span class=\"_ _2\"></span>ve are low<span class=\"_ _2\"></span>er tha<span class=\"_ _2\"></span>n the c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>tua<span class=\"_ _2\"></span>l cash f<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>ows du<span class=\"_ _2\"></span>e, or are d<span class=\"_ _2\"></span>elaye<span class=\"_ _2\"></span>d. The d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>fere<span class=\"_ _2\"></span>nce is di<span class=\"_ _2\"></span>scou<span class=\"_ _2\"></span>nted a<span class=\"_ _2\"></span>t the a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>\u2019s ori<span class=\"_ _2\"></span>gina<span class=\"_ _2\"></span>l ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve interest rate<span class=\"_ _0\"></span> and recognised as an<span class=\"_ _0\"></span> impairment of the original val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> cost<span class=\"ff76 ls3 ws3\"> \u2013 t<span class=\"_ _2\"></span>he ECL fo<span class=\"_ _2\"></span>r tr<span class=\"_ _2\"></span>ade </span></span>receivables (including fees<span class=\"_ _0\"></span> receivable), contract asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> lease receivables is<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>ved<span class=\"_ _0\"></span> using the simplif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> approach in I<span class=\"_ _2\"></span>FRS 9 <span class=\"ff78 ls3e ws5b\">Financial Inst<span class=\"_ _2\"></span>ruments</span> to cal<span class=\"_ _2\"></span>cula<span class=\"_ _2\"></span>te a lifet<span class=\"_ _2\"></span>ime E<span class=\"_ _2\"></span>CL.<span class=\"_ _2\"></span> The allowance<span class=\"_ _0\"></span> is based on historical experience o<span class=\"_ _0\"></span>f collect<span class=\"_ _2\"></span>ion ra<span class=\"_ _2\"></span>tes, a<span class=\"_ _2\"></span>djus<span class=\"_ _2\"></span>ted fo<span class=\"_ _2\"></span>r for<span class=\"_ _2\"></span>ward<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>loo<span class=\"_ _2\"></span>king f<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s spec<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ic to ea<span class=\"_ _2\"></span>ch counterpart<span class=\"_ _2\"></span>y and the economic<span class=\"_ _0\"></span> environment at large,<span class=\"_ _0\"></span> to creat<span class=\"_ _0\"></span>e an ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted l<span class=\"_ _2\"></span>oss m<span class=\"_ _2\"></span>atr<span class=\"_ _2\"></span>ix.<span class=\"_ _314\"> </span>The ECL on o<span class=\"_ _0\"></span>ther f<span class=\"_ _2\"></span>inancial assets held at<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tised cost is measured using<span class=\"_ _0\"></span> the general approach. An allowance<span class=\"_ _0\"></span> is ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated ba<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>n the 12-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>th EC<span class=\"_ _2\"></span>L at ea<span class=\"_ _2\"></span>ch repo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date unless there is<span class=\"_ _0\"></span> a signif<span class=\"_ _2\"></span>icant incr<span class=\"_ _0\"></span>ease in the financial instrumen<span class=\"_ _2\"></span>t\u2019<span class=\"_ _0\"></span>s cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>, in whi<span class=\"_ _2\"></span>ch ca<span class=\"_ _2\"></span>se a los<span class=\"_ _2\"></span>s allo<span class=\"_ _2\"></span>wanc<span class=\"_ _2\"></span>e base<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e lifet<span class=\"_ _2\"></span>ime<span class=\"_ _2\"></span> ECL is calculat<span class=\"_ _0\"></span>ed. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls3\">Fin<span class=\"_ _2\"></span>ancia<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts at F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I \u2013 debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rume<span class=\"_ _2\"></span>nts</span><span class=\"ls5 ws5\"> comprise </span>hig<span class=\"_ _2\"></span>h-<span class=\"_ _2\"></span>qu<span class=\"_ _2\"></span>ali<span class=\"_ _2\"></span>ty g<span class=\"_ _2\"></span>over<span class=\"_ _2\"></span>nmen<span class=\"_ _2\"></span>t bon<span class=\"_ _2\"></span>ds th<span class=\"_ _2\"></span>at have a l<span class=\"_ _2\"></span>ow cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk.<span class=\"_ _2\"></span> The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s p<span class=\"_ _2\"></span>olic<span class=\"_ _2\"></span>y is to c<span class=\"_ _2\"></span>alcu<span class=\"_ _2\"></span>late a 12-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>th EC<span class=\"_ _2\"></span>L on th<span class=\"_ _2\"></span>ese as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s. If t<span class=\"_ _2\"></span>here i<span class=\"_ _2\"></span>s a sign<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>nt inc<span class=\"_ _2\"></span>reas<span class=\"_ _2\"></span>e in cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk, t<span class=\"_ _2\"></span>hen a<span class=\"_ _2\"></span> li<span class=\"_ _2\"></span>fetim<span class=\"_ _2\"></span>e ECL w<span class=\"_ _2\"></span>ill b<span class=\"_ _2\"></span>e recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d. A si<span class=\"_ _2\"></span>gnif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant i<span class=\"_ _2\"></span>ncrea<span class=\"_ _2\"></span>se in cre<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span> ri<span class=\"_ _2\"></span>sk is con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>red to ha<span class=\"_ _2\"></span>ve occu<span class=\"_ _2\"></span>rred w<span class=\"_ _2\"></span>hen co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual p<span class=\"_ _2\"></span>aym<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s are m<span class=\"_ _2\"></span>ore th<span class=\"_ _2\"></span>an 30 da<span class=\"_ _2\"></span>ys pa<span class=\"_ _2\"></span>st du<span class=\"_ _2\"></span>e. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls7 wsa\">Financial assets at FVOCI \u2013<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y instruments<span class=\"ff76 ls3 ws3\"> and </span><span class=\"lsc ws6f\">f<span class=\"_ _2\"></span>inancial </span></span>ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s at FV<span class=\"_ _2\"></span>PL \u2013 <span class=\"ff76 ls6 ws7\">not subject to impairment.<span class=\"_ _314\"> </span></span>The Group writes off a financial asset when there<span class=\"_ _0\"></span> is no reasonable exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f recove<span class=\"_ _2\"></span>ring t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Of<span class=\"_ _2\"></span>fsettin<span class=\"_ _2\"></span>g<span class=\"_ _314\"> </span>Financial assets and financial liabilities are o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset and the net<span class=\"_ _0\"></span> amount reported in the balance<span class=\"_ _0\"></span> sheet when there is<span class=\"_ _0\"></span> a legally enforceable<span class=\"_ _0\"></span> right to offset the recognised amounts and there is an in<span class=\"_ _2\"></span>tent<span class=\"_ _2\"></span>ion to s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle o<span class=\"_ _2\"></span>n a net ba<span class=\"_ _2\"></span>sis, o<span class=\"_ _2\"></span>r to real<span class=\"_ _2\"></span>ise t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et and<span class=\"_ _2\"></span> sett<span class=\"_ _2\"></span>le the<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y simultaneously.<span class=\"_ _314\"> </span>Fair value hierarchy<span class=\"_ _314\"> </span>The Group uses<span class=\"_ _0\"></span> the following valuation hierarchy f<span class=\"_ _0\"></span>or determining and disclosing the fair<span class=\"_ _0\"></span> value of financial instrument<span class=\"_ _2\"></span>s: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Level 1<span class=\"_ _2\"></span>: quot<span class=\"_ _2\"></span>ed (una<span class=\"_ _2\"></span>djus<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span>) pri<span class=\"_ _2\"></span>ces in a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive m<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s for </span>identical asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> or liabilities <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls7 wsa\">Level<span class=\"_ _0\"></span> 2: other techniques for<span class=\"_ _0\"></span> which all input<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> which have </span>a sig<span class=\"_ _2\"></span>nif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>n the re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e are obs<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vab<span class=\"_ _2\"></span>le, either direct<span class=\"_ _2\"></span>ly or<span class=\"_ _0\"></span> indirec<span class=\"_ _2\"></span>tly <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls7 wsa\">Level<span class=\"_ _0\"></span> 3: techniques which use inputs, which have a significant </span>ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t on t<span class=\"_ _2\"></span>he reco<span class=\"_ _2\"></span>rde<span class=\"_ _2\"></span>d fair v<span class=\"_ _2\"></span>alue, t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>re not ba<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>n obser<span class=\"_ _2\"></span>vable mark<span class=\"_ _0\"></span>et data<span class=\"_ _314\"> </span>Fo<span class=\"_ _2\"></span>r Level 1<span class=\"_ _2\"></span>, the f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue i<span class=\"_ _2\"></span>s base<span class=\"_ _2\"></span>d on mar<span class=\"_ _2\"></span>ket pri<span class=\"_ _2\"></span>ce quo<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ions<span class=\"_ _2\"></span> at t<span class=\"_ _2\"></span>he rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date.<span class=\"_ _314\"> </span>For assets and liabilities classif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> as Level<span class=\"_ _0\"></span> 2, the fair value<span class=\"_ _0\"></span> is ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated us<span class=\"_ _2\"></span>ing on<span class=\"_ _2\"></span>e or mo<span class=\"_ _2\"></span>re valu<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on tech<span class=\"_ _2\"></span>niqu<span class=\"_ _2\"></span>es (e.g<span class=\"_ _2\"></span>., the<span class=\"_ _2\"></span> market<span class=\"_ _0\"></span> approach or the income<span class=\"_ _0\"></span> approach) with market<span class=\"_ _0\"></span> obser<span class=\"_ _2\"></span>vable input<span class=\"_ _2\"></span>s. The<span class=\"_ _0\"></span> selec<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> the appropriate valuation techniques ma<span class=\"_ _0\"></span>y be affec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> by the availabilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> and reliability of the relevant inputs. The inputs may include currency rates, int<span class=\"_ _0\"></span>erest rates, forward rate cur<span class=\"_ _2\"></span>ves, and<span class=\"_ _0\"></span> net asset values.<span class=\"_ _314\"> </span>When obser<span class=\"_ _2\"></span>vable mark<span class=\"_ _0\"></span>et data is not<span class=\"_ _0\"></span> available, the Group uses<span class=\"_ _0\"></span> one or more valuation techniques f<span class=\"_ _0\"></span>or which suf<span class=\"_ _2\"></span>ficient and reliable data is available.<span class=\"_ _0\"></span> The input<span class=\"_ _2\"></span>s used<span class=\"_ _0\"></span> in estimat<span class=\"_ _2\"></span>ing the<span class=\"_ _0\"></span> fair value of L<span class=\"_ _0\"></span>evel 3 financial inst<span class=\"_ _2\"></span>ruments t<span class=\"_ _2\"></span>ypically include expected timing and amount of future cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>lows, timing of se<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>tlement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> discount rates and<span class=\"_ _0\"></span> the net asset values<span class=\"_ _0\"></span> of certain invest<span class=\"_ _2\"></span>ments.<span class=\"_ _314\"> </span>The Group det<span class=\"_ _0\"></span>ermines whether a transfer between levels has occurred by<span class=\"_ _0\"></span> reviewing the categorisation of assets and liabilities at t<span class=\"_ _2\"></span>he end o<span class=\"_ _2\"></span>f each re<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ing pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d, bas<span class=\"_ _2\"></span>ed on t<span class=\"_ _2\"></span>he lo<span class=\"_ _2\"></span>west l<span class=\"_ _2\"></span>evel input that is signific<span class=\"_ _2\"></span>ant t<span class=\"_ _0\"></span>o the valuation.<span class=\"_ _314\"> </span>Derivative financial instrument<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> hedging ac<span class=\"_ _2\"></span>tivities<span class=\"_ _314\"> </span>De<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ves are i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue on t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te a derivative contrac<span class=\"_ _2\"></span>t is<span class=\"_ _0\"></span> entered into<span class=\"_ _0\"></span> and are subsequently remeasured<span class=\"_ _0\"></span> to their fair value<span class=\"_ _0\"></span> at regular intervals. The method of rec<span class=\"_ _0\"></span>ognising any resulting measurement<span class=\"_ _0\"></span> gain or loss depends on w<span class=\"_ _2\"></span>heth<span class=\"_ _2\"></span>er or n<span class=\"_ _2\"></span>ot the d<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>vat<span class=\"_ _2\"></span>ive i<span class=\"_ _2\"></span>s desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d as a he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g instr<span class=\"_ _2\"></span>ument and<span class=\"_ _0\"></span> the nature of<span class=\"_ _0\"></span> the item being hedged.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p uses fo<span class=\"_ _2\"></span>reign e<span class=\"_ _2\"></span>xchang<span class=\"_ _2\"></span>e for<span class=\"_ _2\"></span>war<span class=\"_ _2\"></span>d cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to man<span class=\"_ _2\"></span>age i<span class=\"_ _2\"></span>ts fore<span class=\"_ _2\"></span>ign exch<span class=\"_ _2\"></span>ange r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>. It en<span class=\"_ _2\"></span>ters i<span class=\"_ _2\"></span>nto a se<span class=\"_ _2\"></span>ries o<span class=\"_ _2\"></span>f exchan<span class=\"_ _2\"></span>ge con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s to purc<span class=\"_ _0\"></span>hase or sell certain currencies against sterling and US<span class=\"_ _0\"></span> do<span class=\"_ _2\"></span>llar<span class=\"_ _2\"></span>s in th<span class=\"_ _2\"></span>e fut<span class=\"_ _2\"></span>ure at f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d amou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has em<span class=\"_ _2\"></span>bed<span class=\"_ _2\"></span>ded foreign<span class=\"_ _0\"></span> currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives, primarily in re<span class=\"_ _0\"></span>venue contrac<span class=\"_ _2\"></span>ts where th<span class=\"_ _2\"></span>e cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t is d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>feren<span class=\"_ _2\"></span>t from t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>unc<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal or<span class=\"_ _2\"></span> local currencies of<span class=\"_ _0\"></span> the par<span class=\"_ _2\"></span>ties involved. The Group<span class=\"_ _0\"></span> records these derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments at fair value in<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _0\"></span> as either assets or liabilities.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p hedg<span class=\"_ _2\"></span>es a pro<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of i<span class=\"_ _2\"></span>ts n<span class=\"_ _2\"></span>et inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment i<span class=\"_ _2\"></span>n forei<span class=\"_ _2\"></span>gn subsidiaries by<span class=\"_ _0\"></span> designating some borrowings and derivative financial inst<span class=\"_ _2\"></span>ruments as net in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ment hedges. Any gain<span class=\"_ _0\"></span> or loss on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g ins<span class=\"_ _2\"></span>tru<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t relat<span class=\"_ _2\"></span>ing to t<span class=\"_ _2\"></span>he ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e hedge is rec<span class=\"_ _0\"></span>ognised in other comprehensive inc<span class=\"_ _0\"></span>ome and remains in the hedging r<span class=\"_ _0\"></span>eser<span class=\"_ _2\"></span>ve until disposal of<span class=\"_ _0\"></span> the subsidiar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>As par<span class=\"_ _2\"></span>t of<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s interest rate<span class=\"_ _0\"></span> management polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> (see note 17<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>5),<span class=\"_ _0\"></span> the Group enters into derivative financial inst<span class=\"_ _2\"></span>ruments to con<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>t a por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f it<span class=\"_ _2\"></span>s fi<span class=\"_ _2\"></span>xed ra<span class=\"_ _2\"></span>te debt i<span class=\"_ _2\"></span>nto f<span class=\"_ _2\"></span>loa<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g rate d<span class=\"_ _2\"></span>ebt<span class=\"_ _2\"></span>. These derivative inst<span class=\"_ _2\"></span>ruments have been design<span class=\"_ _0\"></span>ated as fair value he<span class=\"_ _2\"></span>dges<span class=\"_ _2\"></span>. The c<span class=\"_ _2\"></span>arr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing v<span class=\"_ _2\"></span>alue of t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item i<span class=\"_ _2\"></span>s adju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d for fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue chan<span class=\"_ _2\"></span>ges a<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>able to t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk bei<span class=\"_ _2\"></span>ng he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d, wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he corresponding entr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> recorded in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>. Changes in fair value<span class=\"_ _0\"></span> of the derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments are also recognised in<span class=\"_ _0\"></span> the income statement<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In o<span class=\"_ _2\"></span>rder to q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>y for he<span class=\"_ _2\"></span>dge ac<span class=\"_ _2\"></span>count<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>, a tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t meet str<span class=\"_ _2\"></span>ict criteria regar<span class=\"_ _0\"></span>ding documentat<span class=\"_ _2\"></span>ion, e<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fecti<span class=\"_ _2\"></span>veness, pr<span class=\"_ _0\"></span>obabilit<span class=\"_ _2\"></span>y of occurrenc<span class=\"_ _0\"></span>e and reliability of measurement. W<span class=\"_ _0\"></span>e document the relationship between hedging instrument<span class=\"_ _2\"></span>s and hedged items<span class=\"_ _0\"></span> at the inception of<span class=\"_ _0\"></span> the tr<span class=\"_ _2\"></span>ansaction, as well as<span class=\"_ _0\"></span> document<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> the risk management object<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> and st<span class=\"_ _2\"></span>rategy f<span class=\"_ _0\"></span>or under<span class=\"_ _2\"></span>taking various hedging transac<span class=\"_ _2\"></span>tions. The effect<span class=\"_ _2\"></span>iveness of<span class=\"_ _0\"></span> the hedge is tested at each r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date and<span class=\"_ _0\"></span> at the commencement and<span class=\"_ _0\"></span> conclusion of an<span class=\"_ _2\"></span>y hedg<span class=\"_ _2\"></span>e in ord<span class=\"_ _2\"></span>er to ver<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>y t<span class=\"_ _2\"></span>hat it c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>inue<span class=\"_ _2\"></span>s to sat<span class=\"_ _2\"></span>isf<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>ll th<span class=\"_ _2\"></span>e cr<span class=\"_ _2\"></span>iter<span class=\"_ _2\"></span>ia for he<span class=\"_ _2\"></span>dge a<span class=\"_ _2\"></span>ccoun<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g. An<span class=\"_ _2\"></span>y inef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive po<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is recognised in<span class=\"_ _0\"></span> the income statement as finance income or expense.<span class=\"_ _314\"> </span>Amount<span class=\"_ _2\"></span>s that<span class=\"_ _0\"></span> have accumulat<span class=\"_ _0\"></span>ed through other comprehensive income in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> are recognised in<span class=\"_ _0\"></span> the income st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent in t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d whe<span class=\"_ _2\"></span>n the h<span class=\"_ _2\"></span>edge<span class=\"_ _2\"></span>d ite<span class=\"_ _2\"></span>m af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ts p<span class=\"_ _2\"></span>rof<span class=\"_ _2\"></span>it or<span class=\"_ _2\"></span> los<span class=\"_ _2\"></span>s (fo<span class=\"_ _2\"></span>r examp<span class=\"_ _2\"></span>le, wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e forec<span class=\"_ _2\"></span>ast t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>nsac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion th<span class=\"_ _2\"></span>at is he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d takes plac<span class=\"_ _0\"></span>e). When a<span class=\"_ _0\"></span> hedging ins<span class=\"_ _2\"></span>trument expires<span class=\"_ _0\"></span> or is sold, or when a hedge no<span class=\"_ _0\"></span> longer meets the criteria for hedge ac<span class=\"_ _0\"></span>counting<span class=\"_ _2\"></span>, any cumulative gain<span class=\"_ _0\"></span> or loss remains in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>: it is only recognised<span class=\"_ _0\"></span> in the income statement when the f<span class=\"_ _0\"></span>orecas<span class=\"_ _2\"></span>t transac<span class=\"_ _2\"></span>tion itself is ultimately recognised in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>. Wh<span class=\"_ _2\"></span>en a fore<span class=\"_ _2\"></span>cas<span class=\"_ _2\"></span>t tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>s no lon<span class=\"_ _2\"></span>ger ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>o occur, the cumulative gain or<span class=\"_ _0\"></span> loss that was reported through other comprehensive inc<span class=\"_ _0\"></span>ome is immediately recognised<span class=\"_ _0\"></span> in the income statement.<span class=\"_ _314\"> </span>The g<span class=\"_ _2\"></span>ain or l<span class=\"_ _2\"></span>oss o<span class=\"_ _2\"></span>n a der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>e whic<span class=\"_ _2\"></span>h is not d<span class=\"_ _2\"></span>esig<span class=\"_ _2\"></span>nate<span class=\"_ _2\"></span>d as a hedging instr<span class=\"_ _2\"></span>ument<span class=\"_ _0\"></span> is recognised directly in the income statement<span class=\"_ _314\"> </span><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls2 ws2 gs4ca\">17<span class=\"_ _3\"></span>.1<span class=\"_ _0\"></span> Financial assets<span class=\"_ _314\"> </span></div><div class=\"gs4cb\"><table class=\"s w75d h278\" id=\"_ab9df061-a71d-452d-9778-d906ec3f1636\"><tr><td></td><td class=\"c n xbfa y2370 w75e h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls27 ws43\">Amortised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n xbfb y2370 w75f h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls119 ws18f\">F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I<span class=\"_ _314\"> </span></div></td><td class=\"c n xbfc y2370 w3a3 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls110 ws183\">F<span class=\"_ _2\"></span>VPL<span class=\"_ _314\"> </span></div></td><td class=\"c n xbfd y2370 w464 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2059 w186 h21c\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xbfe y2059 w34 h21b\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xbff y2059 w34 h21b\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc00 y2059 w34 h21b\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc01 y2059 w34 h21b\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2180 w760 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial assets</div><div class=\"t m0 xc02 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2372 w761 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member trading assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc03 y2372 w6a h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc04 y2372 w4f h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc05 y2372 w762 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc06 y2372 w762 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2182 w763 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther r<span class=\"_ _0\"></span>eceivables from clearing members<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc07 y2182 w764 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">4,60<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xc08 y2182 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc09 y2182 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0a y2182 w764 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">4<span class=\"_ _2\"></span>,601<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2183 w765 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther financial assets</span></div><div class=\"t m0 xc0b h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0c y205d w766 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls75 ws9e\">319<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0d y205d w767 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">24,<span class=\"_ _2\"></span>33<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0e y205d w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0f y205d w768 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>,64<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2373 w769 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member cash<span class=\"_ _0\"></span> and cash equivalents</span></div><div class=\"t m0 xc10 h194 y20bd ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xc11 y227a w76a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">65,553<span class=\"_ _314\"> </span></div></td><td class=\"c n xc12 y227a w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc13 y227a w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc14 y227a w76b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">65,<span class=\"_ _2\"></span>553<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2185 w76c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> clearing member asse<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc15 y2185 w76d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">70,<span class=\"_ _2\"></span>473<span class=\"_ _314\"> </span></div></td><td class=\"c n xc16 y2185 w76e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>,3<span class=\"_ _2\"></span>30<span class=\"_ _314\"> </span></div></td><td class=\"c n xc17 y2185 w76f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">662,<span class=\"_ _2\"></span>458<span class=\"_ _314\"> </span></div></td><td class=\"c n xc18 y2185 w770 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls83 wsb0\">7<span class=\"_ _2\"></span>5<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2186 w771 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Receivables</div><div class=\"t m0 xc19 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1a y225d w359 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">1,564<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1b y225d w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1c y225d w33a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1d y225d w772 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>,582<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2374 wdb h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1e y2374 wdd h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">3,949<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1f y2374 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc20 y2374 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc21 y2374 wdd h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">3,949<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2188 w773 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc22 y2188 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc23 y2188 w1ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td><td class=\"c n xc24 y2188 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc25 y2188 w1ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y218a w774 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc26 y218a w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc27 y218a w775 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">148<span class=\"_ _314\"> </span></div></td><td class=\"c n xc28 y218a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc29 y218a w775 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">148<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2375 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218c w776 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y218c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2b y218c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2c y218c w777 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2d y218c w777 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2376 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22cc w778 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y22cc w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2f y22cc w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc30 y22cc w779 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td><td class=\"c n xc31 y22cc w779 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w77a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y213d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y213d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc34 y213d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc35 y213d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2176 w77b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y2176 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y2176 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc34 y2176 w5c3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n xc36 y2176 wa5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y20da w77c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> deriv<span class=\"_ _2\"></span>ative financial instruments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc37 y20da w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc38 y20da w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc39 y20da w157 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls75 ws9e\">196<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3a y20da wc4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls75 ws9e\">196<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w77d h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3b y2069 w77e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">75,986<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3c y2069 w77f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>,5<span class=\"_ _2\"></span>39<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3d y2069 w780 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">6<span class=\"_ _2\"></span>62,672<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3e y2069 w781 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaf wsd9\">7<span class=\"_ _2\"></span>63<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>97<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs4cc\">1 <span class=\"_ _c\"> </span>A<span class=\"_ _2\"></span>t 31 De<span class=\"_ _2\"></span>cem<span class=\"_ _2\"></span>ber 20<span class=\"_ _2\"></span>25, th<span class=\"_ _2\"></span>ere a<span class=\"_ _2\"></span>re no pr<span class=\"_ _2\"></span>ovi<span class=\"_ _2\"></span>sio<span class=\"_ _2\"></span>ns for e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ed cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t los<span class=\"_ _2\"></span>ses i<span class=\"_ _2\"></span>n rela<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on to an<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e CCP b<span class=\"_ _2\"></span>usi<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>ses\u2019 f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>anc<span class=\"_ _2\"></span>ial a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts h<span class=\"_ _2\"></span>eld a<span class=\"_ _2\"></span>t amo<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t or F<span class=\"_ _2\"></span>VO<span class=\"_ _2\"></span>CI (20<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4: n<span class=\"_ _2\"></span>il)<span class=\"_ _2\"></span>. The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p clo<span class=\"_ _2\"></span>sel<span class=\"_ _2\"></span>y </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4cd\">monitors its CCP investment portfolio and invests only in<span class=\"_ _0\"></span> government debt and<span class=\"_ _0\"></span> other collateralised instruments where the risk<span class=\"_ _0\"></span> of loss is<span class=\"_ _0\"></span> minimal. This includes<span class=\"_ _0\"></span> direct investment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> in highly rated, </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4ce\">regulatory qualify<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> sovereign bonds and<span class=\"_ _0\"></span> supranational debt; investments in tri-par<span class=\"_ _2\"></span>ty and bilateral<span class=\"_ _0\"></span> reverse repos (<span class=\"_ _0\"></span>receiving high-<span class=\"_ _2\"></span>quality government securities as<span class=\"_ _0\"></span> collateral); and, in<span class=\"_ _0\"></span> cert<span class=\"_ _2\"></span>ain </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4cf\">jurisdictions<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> deposit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> the central bank. The small<span class=\"_ _0\"></span> proport<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> of cash that<span class=\"_ _0\"></span> is invested unsecured<span class=\"_ _0\"></span> is placed for<span class=\"_ _0\"></span> short durations with highly rated count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ties where<span class=\"_ _0\"></span> limit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are applied with </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs4d0\">res<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t to c<span class=\"_ _2\"></span>red<span class=\"_ _2\"></span>it qu<span class=\"_ _2\"></span>ali<span class=\"_ _2\"></span>ty, co<span class=\"_ _2\"></span>nce<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>at<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>nd ten<span class=\"_ _2\"></span>or. Th<span class=\"_ _2\"></span>ere wa<span class=\"_ _2\"></span>s no si<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t inc<span class=\"_ _2\"></span>rea<span class=\"_ _2\"></span>se in cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t ri<span class=\"_ _2\"></span>sk in t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r and n<span class=\"_ _2\"></span>one o<span class=\"_ _2\"></span>f the a<span class=\"_ _2\"></span>ss<span class=\"_ _2\"></span>ets a<span class=\"_ _2\"></span>re pa<span class=\"_ _2\"></span>st du<span class=\"_ _2\"></span>e (2024: n<span class=\"_ _2\"></span>il)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4d1\">2 <span class=\"_ _7\"> </span>Clearing<span class=\"_ _0\"></span> member cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> represents amounts received from<span class=\"_ _0\"></span> the clearing members to<span class=\"_ _0\"></span> cover initial and<span class=\"_ _0\"></span> variation margins and<span class=\"_ _0\"></span> default fund contributions that are<span class=\"_ _0\"></span> not invested </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4d2\">in bonds. These<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are deposited<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th<span class=\"_ _0\"></span> banks, including central banks, or<span class=\"_ _0\"></span> invested securely in<span class=\"_ _0\"></span> shor<span class=\"_ _2\"></span>t-term r<span class=\"_ _0\"></span>everse repurchase<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts (re<span class=\"_ _0\"></span>verse repos).<span class=\"_ _0\"></span> O<span class=\"_ _2\"></span>ther<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> represent the </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4d3\">CCP investment in<span class=\"_ _0\"></span> government bonds.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4d4\">3 <span class=\"_ _7\"> </span>Prepayments of \u00a3265<span class=\"_ _0\"></span> million (non-cur<span class=\"_ _2\"></span>rent: \u00a35<span class=\"_ _0\"></span>9 million and<span class=\"_ _0\"></span> current: \u00a3206 million), other<span class=\"_ _0\"></span> taxes receivable of<span class=\"_ _0\"></span> \u00a397 million<span class=\"_ _0\"></span> (all current) and<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> assets of \u00a35 million<span class=\"_ _0\"></span> (all current)<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> receivables </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4d5\">are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> as financial instrument<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div><div class=\"gs4d6\"><table class=\"s w782 h279\" id=\"_5fed8258-07eb-4b19-b806-3fbeb24a2fbb\"><tr><td></td><td class=\"c n xc3f y2377 w783 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls27 ws43\">Amor<span class=\"_ _2\"></span>tised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n xc40 y2377 w784 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsff ws148\">F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I<span class=\"_ _314\"> </span></div></td><td class=\"c n xc41 y2377 w785 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls7a wsbe\">F<span class=\"_ _2\"></span>VPL<span class=\"_ _314\"> </span></div></td><td class=\"c n xc42 y2377 w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2275 w15d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n xc43 y2275 w35 h234\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc44 y2275 w5fb h234\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x23f y2275 w35 h234\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc45 y2275 w35 h234\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2378 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial assets<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y205a w761 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member trading assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc03 y205a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc04 y205a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc46 y205a w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">59<span class=\"_ _2\"></span>4,555<span class=\"_ _314\"> </span></div></td><td class=\"c n xc47 y205a w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">59<span class=\"_ _2\"></span>4,555<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2379 w763 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther r<span class=\"_ _0\"></span>eceivables from clearing members<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc48 y2379 w787 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsad wsdc\">6<span class=\"_ _2\"></span>,882<span class=\"_ _314\"> </span></div></td><td class=\"c n xc49 y2379 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4a y2379 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4b y2379 w788 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsad wsdc\">6,8<span class=\"_ _2\"></span>82<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y205c w789 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther financial assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y205c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4c y205c w78a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>,13<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4d y205c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4e y205c w78a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>,13<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y205d w78b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member cash<span class=\"_ _0\"></span> and cash equivalents<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc4f y205d w78c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">7<span class=\"_ _2\"></span>2,90<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td><td class=\"c n xc50 y205d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc51 y205d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc52 y205d w78d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">7<span class=\"_ _2\"></span>2,90<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y227a w76c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> clearing member asse<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc53 y227a w78e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">79,791<span class=\"_ _314\"> </span></div></td><td class=\"c n xc54 y227a w78a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>3<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xc55 y227a w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594<span class=\"_ _2\"></span>,555<span class=\"_ _314\"> </span></div></td><td class=\"c n xc56 y227a w78f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">692,<span class=\"_ _2\"></span>48<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2070 w790 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Receivables</div><div class=\"t m0 xc19 h194 y20d4 ff76 fs12a fc1 sc0 lsa6 wsd2\">1,2<span class=\"_ _314\"> </span></div></td><td class=\"c n xc57 y2070 w791 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,51<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td><td class=\"c n xc58 y2070 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc59 y2070 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5a y2070 w792 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>515<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y225d wdb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5b y225d wde h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 wsdb\">3,<span class=\"_ _2\"></span>475<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5c y225d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5d y225d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5e y225d w793 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 wsdb\">3,<span class=\"_ _2\"></span>475<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21b9 w773 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc22 y21b9 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5f y21b9 wd7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td><td class=\"c n xc60 y21b9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc61 y21b9 w4a7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2062 w774 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc26 y2062 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc62 y2062 w56f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc63 y2062 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc64 y2062 w50 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237a ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21ba w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y21ba w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y21ba w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc65 y21ba w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xc66 y21ba w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y214a w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y214a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2b y214a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc67 y214a w794 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td><td class=\"c n xc68 y214a w794 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237c ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y214c w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y214c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc69 y214c w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6a y214c w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y213e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y213e w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc69 y213e w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6a y213e w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2068 w77c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> deriv<span class=\"_ _2\"></span>ative financial instruments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc37 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc38 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6b y2068 w52f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">113<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6c y2068 w52f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">113<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w77d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6d y2069 w795 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls61 ws86\">84<span class=\"_ _2\"></span>,781<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6e y2069 w796 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>92<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6f y2069 w797 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>68<span class=\"_ _314\"> </span></div></td><td class=\"c n xc70 y2069 w798 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">697<span class=\"_ _0\"></span>,6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4d7\">1 <span class=\"_ _c\"> </span>Prepayments of \u00a32<span class=\"_ _0\"></span>41 million<span class=\"_ _0\"></span> (non-<span class=\"_ _2\"></span>current: \u00a323 million<span class=\"_ _0\"></span> and current: \u00a3218 million) and<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>t assets o<span class=\"_ _0\"></span>f \u00a316 million (non-current: \u00a311 million and<span class=\"_ _0\"></span> current: \u00a35 million)<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> receivables are<span class=\"_ _0\"></span> not classified </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4d8\">as financial instruments. </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs4d9\">2 <span class=\"_ _7\"> </span>Fo<span class=\"_ _2\"></span>r 2024, rec<span class=\"_ _2\"></span>eiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>es cl<span class=\"_ _2\"></span>ass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s fi<span class=\"_ _2\"></span>nan<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>l ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s have b<span class=\"_ _2\"></span>een r<span class=\"_ _2\"></span>e-<span class=\"_ _2\"></span>pre<span class=\"_ _2\"></span>sen<span class=\"_ _2\"></span>ted to e<span class=\"_ _2\"></span>xclu<span class=\"_ _2\"></span>de ot<span class=\"_ _2\"></span>her t<span class=\"_ _2\"></span>axe<span class=\"_ _2\"></span>s rec<span class=\"_ _2\"></span>eiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e of \u00a368 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>see n<span class=\"_ _2\"></span>ote 1<span class=\"_ _2\"></span>3).<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls4 ws2b gs4db\">17<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>2 Financial<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div><div class=\"gs4cb\"><table class=\"s w799 h27a\" id=\"_1cb6eb71-59fc-4208-8a9e-fed23ec2a909\"><tr><td></td><td class=\"c n xc71 y237d w75e h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls27 ws43\">Amortised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n xc72 y237d w3a3 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls110 ws183\">F<span class=\"_ _2\"></span>VPL<span class=\"_ _314\"> </span></div></td><td class=\"c n xc73 y237d w464 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y236e w6f7 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xc74 y236e w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc75 y236e w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc76 y236e w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237e ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial liabilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2186 w79a h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member trading li<span class=\"_ _0\"></span>abilities<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc77 y2186 w6a h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc78 y2186 w79b h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,4<span class=\"_ _2\"></span>58<span class=\"_ _314\"> </span></div></td><td class=\"c n xc79 y2186 w762 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w79c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther pa<span class=\"_ _0\"></span>yables to clearing members<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc7a y2187 w79d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">94,986<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7b y2187 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7c y2187 w79d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">94,986<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2188 w79e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> clearing member financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7d y2188 w79d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">94,986<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7e y2188 w79b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,4<span class=\"_ _2\"></span>58<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7f y2188 w79f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsee ws55\">757<span class=\"_ _3\"></span>,444<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y218a w7a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Payables</div><div class=\"t m0 x435 h194 y20bd ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xc80 y2189 w7a1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb0 wsdb\">2<span class=\"_ _2\"></span>,779<span class=\"_ _314\"> </span></div></td><td class=\"c n xc81 y2189 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc82 y2189 w7a1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb0 wsdb\">2,7<span class=\"_ _2\"></span>79<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y218b wed h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Borrowings and<span class=\"_ _0\"></span> lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xc83 y218b w75c h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">11<span class=\"_ _2\"></span>,71<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc84 y218b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc85 y218b w75c h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">11<span class=\"_ _2\"></span>,71<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237f ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218d w778 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x822 y218d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc86 y218d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x82c y218d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2380 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213d w77a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc87 y213d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc88 y213d w56 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n xc89 y213d w56 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w77b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc8a y20d9 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x287 y20d9 w4e7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8b y20d9 w4e7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y20da w77c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> deriv<span class=\"_ _2\"></span>ative financial instruments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8c y20da w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8d y20da w7a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8e y20da w7a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w7a3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8f y2069 w7a4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls58 wsb5\">109,<span class=\"_ _2\"></span>483<span class=\"_ _314\"> </span></div></td><td class=\"c n xc90 y2069 w7a5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,48<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xc91 y2069 w7a6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">771<span class=\"_ _2\"></span>,966<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4dc\">1 <span class=\"_ _c\"> </span>Social security and other taxes<span class=\"_ _0\"></span> payable of \u00a314<span class=\"_ _0\"></span>7 million and<span class=\"_ _0\"></span> deferred compensation<span class=\"_ _0\"></span> of \u00a310 million within payables<span class=\"_ _0\"></span> are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> financial instrumen<span class=\"_ _2\"></span>ts.<span class=\"_ _314\"> </span></div><div class=\"gs4dd\"><table class=\"s w7a7 h27b\" id=\"_a68865a6-aa17-498f-be88-75727561576e\"><tr><td></td><td class=\"c n xc92 y2381 w783 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls27 ws43\">Amor<span class=\"_ _2\"></span>tised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n xc93 y2381 w785 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls7a wsbe\">F<span class=\"_ _2\"></span>VPL<span class=\"_ _314\"> </span></div></td><td class=\"c n xc94 y2381 w7a8 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2382 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xc95 y2382 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc96 y2382 w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc97 y2382 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2383 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial liabilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y205d w79a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member trading li<span class=\"_ _0\"></span>abilities<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc77 y205d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc98 y205d w7a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594,555<span class=\"_ _314\"> </span></div></td><td class=\"c n xc99 y205d w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594<span class=\"_ _2\"></span>,555<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y205e w79c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther pa<span class=\"_ _0\"></span>yables to clearing members<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc9a y205e w7aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">98<span class=\"_ _2\"></span>,085<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4a y205e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9b y205e w7aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">9<span class=\"_ _2\"></span>8,085<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2070 w79e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> clearing member financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9c y2070 w7aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">9<span class=\"_ _2\"></span>8,085<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9d y2070 w7ab h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594,<span class=\"_ _2\"></span>555<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9e y2070 w7ac h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">692,6<span class=\"_ _2\"></span>40<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y225d w7a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Payables</div><div class=\"t m0 x435 h194 y2242 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9f y225d w7ad h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">2,<span class=\"_ _2\"></span>261<span class=\"_ _314\"> </span></div></td><td class=\"c n xca0 y225d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca1 y225d w7ae h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">2<span class=\"_ _2\"></span>,261<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2061 wed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Borrowings and<span class=\"_ _0\"></span> lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xca2 y2061 w670 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">9,9<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td><td class=\"c n xca3 y2061 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca4 y2061 w670 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">9,9<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2384 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2063 w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x822 y2063 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x2f3 y2063 w6e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n xca5 y2063 w7af h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2385 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2073 w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc8a y2073 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca6 y2073 w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xca7 y2073 w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2386 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2066 w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x822 y2066 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca8 y2066 w7b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></div></td><td class=\"c n x29d y2066 w7b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc87 y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca9 y214c w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xcaa y214c w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2075 w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc8a y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x287 y2075 w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xcab y2075 w7b1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2068 w77c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> deriv<span class=\"_ _2\"></span>ative financial instruments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8c y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcac y2068 w414 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls10d ws181\">77<span class=\"_ _314\"> </span></div></td><td class=\"c n xcad y2068 w414 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls10d ws181\">77<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w7a3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xcae y2069 w7b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">110,311<span class=\"_ _314\"> </span></div></td><td class=\"c n xcaf y2069 w7b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">594<span class=\"_ _2\"></span>,63<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xcb0 y2069 w7b4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">704,<span class=\"_ _0\"></span>943<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4de\">1 <span class=\"_ _c\"> </span>Social security and other taxes<span class=\"_ _0\"></span> payable of \u00a314<span class=\"_ _0\"></span>1 million and<span class=\"_ _0\"></span> deferred compensation o<span class=\"_ _0\"></span>f \u00a37 million within payables<span class=\"_ _0\"></span> are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> financial instrument<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls4 ws2b gs4e0\">Financial assets </div><div class=\"gs4cb\"><table class=\"s w7c1 h27d\" id=\"_f9c15e01-b161-467c-83c2-06af2f13b927\"><tr><td></td><td class=\"t m0 xcdf h13 y2391 ff75 fs6 fc1 sc0 ls12 ws44\">Quoted prices </td><td class=\"t m0 xcb5 h13 y2391 ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td class=\"t m0 xce0 h13 y2391 ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td></td></tr><tr><td></td><td class=\"t m0 xce1 h13 y2392 ff75 fs6 fc1 sc0 ls26 ws3\">in ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve </td><td class=\"t m0 xce2 h13 y2392 ff75 fs6 fc1 sc0 ls27 ws45\">observable </td><td class=\"t m0 xce3 h13 y2392 ff75 fs6 fc1 sc0 ls27 ws45\">unobservable </td><td></td></tr><tr><td></td><td class=\"t m0 xce4 h13 y2393 ff75 fs6 fc1 sc0 ls110 ws183\">markets </td><td class=\"t m0 xce5 h13 y2393 ff75 fs6 fc1 sc0 lse5 ws125\">inputs </td><td class=\"t m0 xce6 h13 y2393 ff75 fs6 fc1 sc0 lse5 ws125\">inputs<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xce4 h13 y2394 ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xce7 h13 y2394 ff75 fs6 fc1 sc0 ls5f wsbe\">(Level 2)<span class=\"_ _314\"> </span></td><td class=\"c n xce8 y2395 w6f6 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xce9 y2395 w464 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y205c w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xcea y205c w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xceb y205c w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcec y205c w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xced y205c w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2396 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial assets<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2184 w7b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"lsa1 wscc\">Derivativ<span class=\"_ _0\"></span>e i<span class=\"_ _0\"></span>nstruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc1 y2184 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcee y2184 w7c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4<span class=\"_ _2\"></span>,785<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y2184 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf0 y2184 w7c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4,7<span class=\"_ _2\"></span>85<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2185 w7b8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf1 y2185 w7c3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _0\"></span>,673<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf2 y2185 w7c4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _0\"></span>,673<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y236f w789 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther financial assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcf3 y236f w767 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">24,<span class=\"_ _2\"></span>33<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf4 y236f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf5 y236f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf6 y236f w76e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>,3<span class=\"_ _2\"></span>30<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xc11 y2061 w767 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">24,<span class=\"_ _2\"></span>33<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf7 y2061 w762 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf8 y2061 w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf9 y2061 w7c5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb0 wsdb\">686<span class=\"_ _2\"></span>,78<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2188 w773 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc22 y2188 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xccf y2188 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfa y2188 w1ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfb y2188 w55d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21b5 w774 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfc y21b5 wd5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">130<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfd y21b5 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfe y21b5 w33a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xcff y21b5 w775 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">148<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y218b wc2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Receivables<span class=\"_ _314\"> </span></div></td><td class=\"c n xd00 y218b w542 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xd01 y218b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc28 y218b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd02 y218b w33a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2397 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b6 w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y21b6 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd03 y21b6 w6c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xd04 y21b6 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2d y21b6 w777 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2398 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213d w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd05 y213d w392 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe7 y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc31 y213d w779 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y20d9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y20d9 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xd06 y20d9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc35 y20d9 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y20da w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y20da w5c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x3c5 y20da w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc36 y20da wa5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2069 w7be h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial assets measured at<span class=\"_ _0\"></span> fair value</div><div class=\"t m0 xcdc h195 y2143 ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd07 y2069 w7c6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls21 ws8a\">24<span class=\"_ _2\"></span>,478<span class=\"_ _314\"> </span></div></td><td class=\"c n xd08 y2069 w7c7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,654<span class=\"_ _314\"> </span></div></td><td class=\"c n xd09 y2069 w52 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d ws97\">79<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0a y2069 w7c8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">6<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _2\"></span>1<span class=\"_ _1\"></span>1<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4e1\">1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during the year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"gs4e2\"><table class=\"s w7b5 h27c\" id=\"_732657dc-2afc-4557-a212-4134762c25b7\"><tr><td></td><td class=\"t m0 xcb1 hb y2387 ff76 fs6 fc1 sc0 ls26 ws3\">Qu<span class=\"_ _2\"></span>oted p<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>es </td><td class=\"t m0 xcb2 hb y2387 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td class=\"t m0 xcb3 hb y2387 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td></td></tr><tr><td></td><td class=\"t m0 xcb4 hb y2388 ff76 fs6 fc1 sc0 lsf1 wscc\">in<span class=\"_ _0\"></span> active </td><td class=\"t m0 xcb5 hb y2388 ff76 fs6 fc1 sc0 ls27 ws45\">obser<span class=\"_ _2\"></span>vable </td><td class=\"t m0 xcb6 hb y2388 ff76 fs6 fc1 sc0 ls27 ws45\">unobser<span class=\"_ _2\"></span>vable </td><td></td></tr><tr><td></td><td class=\"t m0 xcb7 hb y2389 ff76 fs6 fc1 sc0 ls8d ws184\">ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s </td><td class=\"t m0 xcb8 hb y2389 ff76 fs6 fc1 sc0 ls4 ws3\">inpu<span class=\"_ _2\"></span>ts </td><td class=\"t m0 xcb9 hb y2389 ff76 fs6 fc1 sc0 ls12 ws81\">input<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xcb7 hb y238a ff76 fs6 fc1 sc0 lsf1 wscc\">(Le<span class=\"_ _0\"></span>vel<span class=\"_ _0\"></span> 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xcba hb y238a ff76 fs6 fc1 sc0 ls109 ws110\">(Lev<span class=\"_ _2\"></span>el 2)<span class=\"_ _314\"> </span></td><td class=\"c n xcbb y238b w6fd h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbc y238b w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y238c w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbd y238c w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbe y238c w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbf y238c w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc0 y238c w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y238d ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial assets<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2373 w7b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"lsa1 wscc\">Derivativ<span class=\"_ _0\"></span>e i<span class=\"_ _0\"></span>nstruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc1 y2373 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc2 y2373 w7b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc3 y2373 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc4 y2373 w7b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2185 w7b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y2185 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc5 y2185 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">590<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x83b y2185 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc6 y2185 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2186 w789 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther financial assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc7 y2186 w7ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>34<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc8 y2186 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc9 y2186 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcca y2186 w7bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">18<span class=\"_ _2\"></span>,13<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xccb y2374 w7bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>34<span class=\"_ _314\"> </span></div></td><td class=\"c n xccc y2374 w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594,<span class=\"_ _2\"></span>555<span class=\"_ _314\"> </span></div></td><td class=\"c n xccd y2374 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcce y2374 w7bd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">612,<span class=\"_ _2\"></span>689<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2188 w773 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc22 y2188 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xccf y2188 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd0 y2188 wd7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd1 y2188 wd7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y218a w774 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc26 y218a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd2 y218a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd3 y218a w50 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc64 y218a w50 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y238e ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218c w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd4 y218c w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd5 y218c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd6 y218c w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y238f ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22cc w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y22cc w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd7 y22cc w401 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td><td class=\"c n x387 y22cc w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd8 y22cc w401 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2390 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2176 w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y2176 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd9 y2176 w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xcda y2176 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcdb y2176 w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22cd w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y22cd w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd9 y22cd w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xcda y22cd w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcdb y22cd w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2069 w7be h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial assets measured at<span class=\"_ _0\"></span> fair value</div><div class=\"t m0 xcdc h195 y210f ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xccb y2110 w7bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>34<span class=\"_ _314\"> </span></div></td><td class=\"c n xccc y2110 w797 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">594<span class=\"_ _2\"></span>,66<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xcdd y2110 w7bf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td><td class=\"c n xcde y2110 w7c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">612,<span class=\"_ _2\"></span>86<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4e3\">1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls4 ws2b gs4e5\">Financial liabilities<span class=\"_ _314\"> </span></div><div class=\"gs4cb\"><table class=\"s w7c1 h27f\" id=\"_50355c9e-4d14-4df4-bb60-35fa4ec2e999\"><tr><td></td><td class=\"t m0 xcdf h13 y2399 ff75 fs6 fc1 sc0 ls12 ws44\">Quoted prices </td><td class=\"t m0 xcb5 h13 y2399 ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td class=\"t m0 xce0 h13 y2399 ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td></td></tr><tr><td></td><td class=\"t m0 xce1 h13 y239a ff75 fs6 fc1 sc0 ls26 ws3\">in ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve </td><td class=\"t m0 xce2 h13 y239a ff75 fs6 fc1 sc0 ls27 ws45\">observable </td><td class=\"t m0 xce3 h13 y239a ff75 fs6 fc1 sc0 ls27 ws45\">unobservable </td><td></td></tr><tr><td></td><td class=\"t m0 xce4 h13 y239b ff75 fs6 fc1 sc0 ls110 ws183\">markets </td><td class=\"t m0 xce5 h13 y239b ff75 fs6 fc1 sc0 lse5 ws125\">inputs </td><td class=\"t m0 xce6 h13 y239b ff75 fs6 fc1 sc0 lse5 ws125\">inputs<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xce4 h13 y239c ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xce7 h13 y239c ff75 fs6 fc1 sc0 ls5f wsbe\">(Level 2)<span class=\"_ _314\"> </span></td><td class=\"c n xce8 y239d w6f6 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xce9 y239d w464 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21b9 w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xcea y21b9 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xceb y21b9 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcec y21b9 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xced y21b9 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y239e ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial liabilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218a w7b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"lsa1 wscc\">Derivativ<span class=\"_ _0\"></span>e i<span class=\"_ _0\"></span>nstruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc1 y218a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcee y218a w7c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4<span class=\"_ _2\"></span>,785<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y218a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf0 y218a w7c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4,7<span class=\"_ _2\"></span>85<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y239f w7b8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y239f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf1 y239f w7c3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _0\"></span>,673<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y239f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf2 y239f w7c4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _0\"></span>,673<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xd0b y2073 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0c y2073 w7c9 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0d y2073 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0e y2073 w76f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662,<span class=\"_ _2\"></span>458<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a0 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22cc w778 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y22cc w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2f y22cc w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0f y22cc w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x215 y22cc w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a1 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2176 w77a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y2176 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd10 y2176 w56 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x301 y2176 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd11 y2176 w56 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22cd w77b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y22cd w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd4 y22cd w7ca h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc9 y22cd w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x3aa y22cd w7ca h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2069 w7cb h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial liabilities<span class=\"_ _0\"></span> measured at fair value</div><div class=\"t m0 xd12 h195 y210f ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd13 y2069 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd14 y2069 w7cc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662,4<span class=\"_ _2\"></span>83<span class=\"_ _314\"> </span></div></td><td class=\"c n xd15 y2069 w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd16 y2069 w7cc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,483<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4e6\">1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during the year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"gs4e7\"><table class=\"s w7cd h280\" id=\"_0f7db60f-5966-4805-b0be-53beb7a001e2\"><tr><td></td><td class=\"t m0 xcb1 hb y23a2 ff76 fs6 fc1 sc0 ls26 ws3\">Qu<span class=\"_ _2\"></span>oted p<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>es </td><td class=\"t m0 xcb2 hb y23a2 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td class=\"t m0 xcb3 hb y23a2 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td></td></tr><tr><td></td><td class=\"t m0 xcb4 hb y23a3 ff76 fs6 fc1 sc0 lsf1 wscc\">in<span class=\"_ _0\"></span> active </td><td class=\"t m0 xcb5 hb y23a3 ff76 fs6 fc1 sc0 ls27 ws45\">obser<span class=\"_ _2\"></span>vable </td><td class=\"t m0 xcb6 hb y23a3 ff76 fs6 fc1 sc0 ls27 ws45\">unobser<span class=\"_ _2\"></span>vable </td><td></td></tr><tr><td></td><td class=\"t m0 xcb7 hb y23a4 ff76 fs6 fc1 sc0 ls8d ws184\">ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s </td><td class=\"t m0 xcb8 hb y23a4 ff76 fs6 fc1 sc0 ls4 ws3\">inpu<span class=\"_ _2\"></span>ts </td><td class=\"t m0 xcb9 hb y23a4 ff76 fs6 fc1 sc0 ls12 ws81\">input<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xcb7 hb y23a5 ff76 fs6 fc1 sc0 lsf1 wscc\">(Le<span class=\"_ _0\"></span>vel<span class=\"_ _0\"></span> 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xcba hb y23a5 ff76 fs6 fc1 sc0 ls109 ws110\">(Lev<span class=\"_ _2\"></span>el 2)<span class=\"_ _314\"> </span></td><td class=\"c n xcbb y23a6 w6fd h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbc y23a6 w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2184 w15d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n xc43 y2184 w35 h27e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc44 y2184 w5fb h27e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x23f y2184 w35 h27e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc45 y2184 w35 h27e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a7 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial liabilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2186 w7b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"lsa1 wscc\">Derivativ<span class=\"_ _0\"></span>e i<span class=\"_ _0\"></span>nstruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc1 y2186 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc2 y2186 w7b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc3 y2186 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc4 y2186 w7b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w7b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y2187 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc5 y2187 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">590<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x83b y2187 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc6 y2187 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xd0b y2188 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd17 y2188 w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">59<span class=\"_ _2\"></span>4,555<span class=\"_ _314\"> </span></div></td><td class=\"c n xd18 y2188 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd19 y2188 w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">59<span class=\"_ _2\"></span>4,555<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a8 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218b w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y218b w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1a y218b w7af h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y218b w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1b y218b w6e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a9 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218d w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y218d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb56 y218d w748 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xc86 y218d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1c y218d w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23aa ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213d w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1d y213d w7b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0f y213d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1e y213d w7b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2176 w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y2176 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1f y2176 w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xd20 y2176 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x24a y2176 w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y20da w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd4 y20da w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd5 y20da w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd6 y20da w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2069 w7cb h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial liabilities<span class=\"_ _0\"></span> measured at fair value</div><div class=\"t m0 xd12 h195 y210f ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0b y2110 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd21 y2110 w7b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">594<span class=\"_ _2\"></span>,63<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xd22 y2110 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd23 y2110 w7ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs4e8\">1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during 202<span class=\"_ _0\"></span>4.<span class=\"_ _314\"> </span></div>Bonds and cross-<span class=\"_ _2\"></span>curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y int<span class=\"_ _0\"></span>erest rate swaps<span class=\"_ _314\"> </span>In 20<span class=\"_ _2\"></span>17 an<span class=\"_ _2\"></span>d 2018<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p issu<span class=\"_ _2\"></span>ed th<span class=\"_ _2\"></span>ree \u20ac5<span class=\"_ _2\"></span>00 m<span class=\"_ _2\"></span>illio<span class=\"_ _2\"></span>n bon<span class=\"_ _2\"></span>ds, maturing in September<span class=\"_ _0\"></span> 202<span class=\"_ _3\"></span>4, December 20<span class=\"_ _0\"></span>27 and September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>9 (se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>6.1)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>\u20ac200 million of<span class=\"_ _0\"></span> the bond maturing in September<span class=\"_ _0\"></span> 2029<span class=\"_ _0\"></span> had been swapped to US$239<span class=\"_ _0\"></span> million through a series o<span class=\"_ _0\"></span>f cross-<span class=\"_ _2\"></span>currency int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t rate s<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>s, mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g on th<span class=\"_ _2\"></span>e sam<span class=\"_ _2\"></span>e dates a<span class=\"_ _2\"></span>s the b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>. The cross-<span class=\"_ _2\"></span>currency inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> rate swaps effec<span class=\"_ _2\"></span>tively exc<span class=\"_ _0\"></span>hange the obligations and c<span class=\"_ _2\"></span>oupo<span class=\"_ _2\"></span>ns of t<span class=\"_ _2\"></span>he bon<span class=\"_ _2\"></span>ds fro<span class=\"_ _2\"></span>m euro<span class=\"_ _2\"></span>s into US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>rs<span class=\"_ _2\"></span>. The co<span class=\"_ _2\"></span>mbin<span class=\"_ _2\"></span>ed bond and cross-currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> interest rate swaps hav<span class=\"_ _0\"></span>e been designated as hedging instrument<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> net investment in US dollar<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting subsidi<span class=\"_ _0\"></span>aries<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>During the year<span class=\"_ _0\"></span>, re<span class=\"_ _0\"></span>trospec<span class=\"_ _2\"></span>tive hedge effec<span class=\"_ _2\"></span>tiveness testing found the \u20ac200 million bond and<span class=\"_ _0\"></span> cross-<span class=\"_ _2\"></span>currency interest rate<span class=\"_ _0\"></span> swaps failed to me<span class=\"_ _2\"></span>et the e<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>enes<span class=\"_ _2\"></span>s cri<span class=\"_ _2\"></span>teri<span class=\"_ _2\"></span>a from F<span class=\"_ _2\"></span>ebr<span class=\"_ _2\"></span>uar<span class=\"_ _2\"></span>y 2025. Th<span class=\"_ _2\"></span>is resu<span class=\"_ _2\"></span>lted<span class=\"_ _2\"></span> in a \u00a315<span class=\"_ _0\"></span> million foreign<span class=\"_ _0\"></span> exchange gain<span class=\"_ _0\"></span> and a \u00a33 million fair value<span class=\"_ _0\"></span> loss on derivative f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments recorded within finance income and f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>ance co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s (se<span class=\"_ _2\"></span>e note 5<span class=\"_ _2\"></span>.1). Th<span class=\"_ _2\"></span>e hedg<span class=\"_ _2\"></span>e was re<span class=\"_ _2\"></span>desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d on 30 J<span class=\"_ _2\"></span>une 2025. I<span class=\"_ _2\"></span>t has si<span class=\"_ _2\"></span>nce be<span class=\"_ _2\"></span>en hig<span class=\"_ _2\"></span>hly ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive a<span class=\"_ _2\"></span>nd is ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span> to be s<span class=\"_ _2\"></span>o in fu<span class=\"_ _2\"></span>ture p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>ds.<span class=\"_ _314\"> </span>The \u20ac500 million bond maturing<span class=\"_ _0\"></span> in December 20<span class=\"_ _0\"></span>27 and the<span class=\"_ _0\"></span> remaining \u20ac<span class=\"_ _2\"></span>30<span class=\"_ _2\"></span>0 mill<span class=\"_ _2\"></span>ion of t<span class=\"_ _2\"></span>he bo<span class=\"_ _2\"></span>nd mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Se<span class=\"_ _2\"></span>ptemb<span class=\"_ _2\"></span>er 2029, wh<span class=\"_ _2\"></span>ich ha<span class=\"_ _2\"></span>s not be<span class=\"_ _2\"></span>en sw<span class=\"_ _2\"></span>appe<span class=\"_ _2\"></span>d into U<span class=\"_ _2\"></span>S doll<span class=\"_ _2\"></span>ars<span class=\"_ _2\"></span>, have b<span class=\"_ _2\"></span>een de<span class=\"_ _2\"></span>sign<span class=\"_ _2\"></span>ated a<span class=\"_ _2\"></span>s hedg<span class=\"_ _2\"></span>ing instr<span class=\"_ _2\"></span>uments in the Group<span class=\"_ _0\"></span>\u2019s net<span class=\"_ _0\"></span> investment in euro r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting subsidiaries.<span class=\"_ _314\"> </span>In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d a CH<span class=\"_ _2\"></span>F150 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd and<span class=\"_ _2\"></span> JP<span class=\"_ _2\"></span>Y<span class=\"_ _3\"></span>4<span class=\"_ _2\"></span>0 bil<span class=\"_ _2\"></span>lion o<span class=\"_ _2\"></span>f fi<span class=\"_ _2\"></span>xed ra<span class=\"_ _2\"></span>te bond<span class=\"_ _2\"></span>s (see n<span class=\"_ _2\"></span>ote 16<span class=\"_ _2\"></span>). The<span class=\"_ _2\"></span>se bo<span class=\"_ _2\"></span>nds hav<span class=\"_ _2\"></span>e bee<span class=\"_ _2\"></span>n designated as<span class=\"_ _0\"></span> hedging inst<span class=\"_ _2\"></span>ruments in the Group\u2019<span class=\"_ _0\"></span>s net<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ment in<span class=\"_ _0\"></span> Swiss Franc and Japanese<span class=\"_ _0\"></span> Y<span class=\"_ _0\"></span>en r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting subsidiaries.<span class=\"_ _314\"> </span><table class=\"s w7cf h281\" id=\"_6bdac7c1-a7fb-4547-8a7e-eaa15ba7cb30\"><tr><td class=\"c n x1eb y23ab w7d0 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 lse5 ws75\">Euro denominated bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xd24 y23ab w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd25 y23ab w7d1 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ac w7d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Carr<span class=\"_ _2\"></span>ying value of<span class=\"_ _0\"></span> debt on the bal<span class=\"_ _0\"></span>ance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd26 y23ac w7d3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a38<span class=\"_ _2\"></span>70m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd27 y23ac w7d4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">(<span class=\"_ _2\"></span>\u00a3<span class=\"_ _2\"></span>827m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ad w7d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd28 y23ad w7d6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">\u20ac1,000m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd29 y23ad w7d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">\u20ac1,000m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219c w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y219c w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2b y219c w7d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215a w7da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2c y215a w3b1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2d y215a w7db h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ae w7dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Change in<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying value o<span class=\"_ _0\"></span>f hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2e y23ae w7dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a33<span class=\"_ _2\"></span>9m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2f y23ae w7de h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">\u00a350m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w7df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd30 y219e w7e0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">\u00a339m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd31 y219e w7e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls39 ws0\">(\u00a3<span class=\"_ _2\"></span>50m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21a0 w7e2 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls76 ws5\">Cumulative gain held in<span class=\"_ _0\"></span> hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> for<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">continuing hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xd32 y21a0 w7e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">\u00a320<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd33 y21a0 w7e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">\u00a3<span class=\"_ _2\"></span>59m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y23af ff76 fs129 fc1 sc0 ls76 ws5\">Gain held in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> for relationships </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w7e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">for which<span class=\"_ _0\"></span> hedge accounting no<span class=\"_ _0\"></span> longer applies<span class=\"_ _314\"> </span></div></td><td class=\"c n xd30 y2069 w7e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">\u00a3<span class=\"_ _2\"></span>22m</div></td><td class=\"t m0 x6cc h193 y23b0 ff76 fs129 fc1 sc0 ls82 wsaf\">\u00a3<span class=\"_ _2\"></span>22m<span class=\"_ _314\"> </span></td></tr></table>Cross-currency interest rate<span class=\"_ _0\"></span> swap1<span class=\"_ _314\"> </span>2025<span class=\"_ _314\"> </span>20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span>Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve li<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y on t<span class=\"_ _2\"></span>he balance sheet<span class=\"_ _314\"> </span>(\u00a3<span class=\"_ _2\"></span>25<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span>Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span>$239m<span class=\"_ _314\"> </span>He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span>1:1<span class=\"_ _314\"> </span>Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span>100%<span class=\"_ _314\"> </span>Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span>(\u00a31m)<span class=\"_ _314\"> </span>(\u00a3<span class=\"_ _2\"></span>3m)<span class=\"_ _314\"> </span>Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span>\u00a31<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span>\u00a33m<span class=\"_ _314\"> </span>Cumulative loss held i<span class=\"_ _0\"></span>n hedging reserve for<span class=\"_ _314\"> </span>continuing hedges<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>(<span class=\"_ _2\"></span>\u00a3<span class=\"_ _1\"></span>24<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span>Loss held<span class=\"_ _0\"></span> in the hedging reserve for relationships for which<span class=\"_ _0\"></span> hedge accounting no<span class=\"_ _0\"></span> longer applies<span class=\"_ _314\"> </span>(\u00a3<span class=\"_ _2\"></span>56m)(\u00a3<span class=\"_ _2\"></span>31<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>T<span class=\"_ _2\"></span>his re<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>es to t<span class=\"_ _2\"></span>he \u20ac20<span class=\"_ _2\"></span>0 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on cro<span class=\"_ _2\"></span>ss<span class=\"_ _2\"></span>-c<span class=\"_ _2\"></span>urr<span class=\"_ _2\"></span>enc<span class=\"_ _2\"></span>y int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t ra<span class=\"_ _2\"></span>te sw<span class=\"_ _2\"></span>ap, w<span class=\"_ _2\"></span>hich f<span class=\"_ _2\"></span>ail<span class=\"_ _2\"></span>ed to m<span class=\"_ _2\"></span>eet t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span>ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>s cri<span class=\"_ _2\"></span>ter<span class=\"_ _2\"></span>ia fr<span class=\"_ _2\"></span>om Fe<span class=\"_ _2\"></span>bru<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y 2025<span class=\"_ _2\"></span>. The c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e in fa<span class=\"_ _2\"></span>ir va<span class=\"_ _2\"></span>lue o<span class=\"_ _2\"></span>f der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>es the \u00a312 million<span class=\"_ _0\"></span> net gain<span class=\"_ _0\"></span> recorded within finance income<span class=\"_ _0\"></span> and finance costs<span class=\"_ _314\"> <span class=\"_ _314\"> </span></span><div class=\"gse3\"><table class=\"s w801 h285\" id=\"_5184fbae-ebcf-4227-bc16-b21ee2a3a26e\"><tr><td class=\"t m0 x5a9 h13 y23c8 ff75 fs6 fc1 sc0 ls12 ws44\">Cross-currency interest rate<span class=\"_ _0\"></span> swap </td><td></td></tr><tr><td class=\"c n x1eb y23c9 w802 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lse5 ws75\">\u2013 redesignated<span class=\"_ _0\"></span> on 30 June 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4e y23c9 w31 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y23ca w803 h286\"><div class=\"t m0 x1e4 h193 y2208 ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve li<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y on t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4f y23ca w480 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a38<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23cb w7f9 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd50 y23cb w804 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">$239<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23cc w7d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y23cc w6a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23cd w7da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd47 y23cd w65 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ce w7ed h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd51 y23ce w805 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls70 ws76\">\u00a33m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23cf w7fd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd52 y23cf w35b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a33m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23d0 ff76 fs129 fc1 sc0 ls76 ws5\">Cumulative gain held in<span class=\"_ _0\"></span> hedging reser<span class=\"_ _2\"></span>ve </td><td></td></tr><tr><td class=\"t m0 x5a9 h193 y23d1 ff76 fs129 fc1 sc0 ls89 wsda\">for c<span class=\"_ _0\"></span>ontinuing hedges<span class=\"_ _314\"> </span></td><td class=\"t m0 xd53 h187 y23d2 ff75 fs129 fc1 sc0 ls70 ws76\">\u00a33m<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y23d3 w806 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">CHF denominated<span class=\"_ _0\"></span> bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xd54 y23d3 w4c9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls7f wsac\">20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d4 w7d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Carr<span class=\"_ _2\"></span>ying value of<span class=\"_ _0\"></span> debt on the bal<span class=\"_ _0\"></span>ance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd55 y23d4 w807 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a31<span class=\"_ _2\"></span>40m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d5 w7f9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd56 y23d5 w808 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls71 ws9a\">CHF15<span class=\"_ _2\"></span>0m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d6 w7d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y23d6 w6a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d7 w7da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd47 y23d7 w65 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d8 w809 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Change in<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying value o<span class=\"_ _0\"></span>f hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd57 y23d8 w80a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a34m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d9 w7fd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd58 y23d9 w80b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u00a34m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23da ff76 fs129 fc1 sc0 ls6c ws7e\">Cumulative loss held i<span class=\"_ _0\"></span>n hedging reserve </td><td></td></tr><tr><td class=\"c n x1eb y23db w80c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">for c<span class=\"_ _0\"></span>ontinuing hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xd59 y23db w80a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a34m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23dc w80d h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">JPY denominat<span class=\"_ _0\"></span>ed bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5a y23dc w80e h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2148 w7d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Carr<span class=\"_ _2\"></span>ying value of<span class=\"_ _0\"></span> debt on the bal<span class=\"_ _0\"></span>ance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5b y2148 w80f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a318<span class=\"_ _2\"></span>9m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213a w7f9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5c y213a w810 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">JPY<span class=\"_ _3\"></span>40bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21ed w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y21ed w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21fa w7da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd47 y21fa w65 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215b w809 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Change in<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying value o<span class=\"_ _0\"></span>f hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5d y215b w811 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">\u00a3<span class=\"_ _2\"></span>20m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b1 w7fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5e y21b1 w812 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a320<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w7e2 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls76 ws5\">Cumulative gain held in<span class=\"_ _0\"></span> hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> for<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">continuing hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xd32 y2069 w813 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">\u00a320<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls3 ws3 gs50a\">Fo<span class=\"_ _2\"></span>reign exc<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e for<span class=\"_ _2\"></span>war<span class=\"_ _2\"></span>d cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs50b\">In N<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ber 202<span class=\"_ _0\"></span>4<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup e<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>d into for<span class=\"_ _2\"></span>eign exc<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e for<span class=\"_ _2\"></span>ward<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs50c\">contrac<span class=\"_ _2\"></span>ts to hedge<span class=\"_ _0\"></span> JPY<span class=\"_ _2\"></span>39 billi<span class=\"_ _0\"></span>on and CHF50 million of<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s investments </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs50d\">in for<span class=\"_ _0\"></span>eign operations<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Both of these derivati<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> matured in the y<span class=\"_ _0\"></span>ear.<span class=\"_ _314\"> </span></div><div class=\"gs50e\"><table class=\"s w7f6 h284\" id=\"_737ba627-4521-4d75-bee3-5e5fa6c70985\"><tr><td class=\"c n x1eb y23c3 w7f7 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 lse5 ws75\">GBP/<span class=\"_ _0\"></span>JPY foreign<span class=\"_ _0\"></span> exchange forward contracts<span class=\"_ _314\"> </span></div></td><td class=\"c n xd42 y23c3 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd43 y23c3 w32 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ad w7f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd44 y23ad w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd45 y23ad w5b5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">\u00a31m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23c4 w7f9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd28 y23c4 w7fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">JPY39bn<span class=\"_ _314\"> </span></div></td><td class=\"c n xd46 y23c4 w7fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">J<span class=\"_ _2\"></span>PY39<span class=\"_ _2\"></span>bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215a w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y215a w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2b y215a w7d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219d w7da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd47 y219d w65 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2d y219d w7db h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w7ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd48 y219e w7fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">(\u00a3<span class=\"_ _2\"></span>7m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd49 y219e w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y221c w7fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4a y221c w7fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">\u00a37m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4b y221c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23c5 ff76 fs129 fc1 sc0 ls6c ws7e\">Cumulative loss held i<span class=\"_ _0\"></span>n the hedging reserve </td><td></td><td></td></tr><tr><td class=\"t m0 x5a9 h193 y23c6 ff76 fs129 fc1 sc0 ls76 ws5\">for r<span class=\"_ _0\"></span>elationships for which hedge acc<span class=\"_ _0\"></span>ount<span class=\"_ _2\"></span>ing </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w7ff h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">no longer applies<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4c y2069 w800 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">(<span class=\"_ _2\"></span>\u00a37m<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd4d h193 y23c7 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"gse3\"><table class=\"s w814 h287\" id=\"_0dd8a398-2b71-4440-bbbd-edc012261559\"><tr><td class=\"c n x1eb y23dd w815 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 lse5 ws75\">GBP/CHF foreign<span class=\"_ _0\"></span> exchange forward contracts<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5f y23dd w26f h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd60 y23dd w7d1 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ad w816 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls21 ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd61 y23ad w135 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d3 y23ad w5b5 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsac wsd7\">\u00a31m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23c4 w7d5 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd28 y23c4 w817 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">C<span class=\"_ _2\"></span>HF50m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd62 y23c4 w818 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">CHF5<span class=\"_ _2\"></span>0m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23de w7d8 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y23de w6a0 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2b y23de w7d9 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219d w7da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2c y219d w3b1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2d y219d w7db h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23df w7ed h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd39 y23df w7ee h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a31m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd63 y23df w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23e0 w7df h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd3b y23e0 w343 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a31<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n x948 y23e0 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y23e1 ff76 fs129 fc1 sc0 ls6c ws7e\">Cumulative loss held i<span class=\"_ _0\"></span>n the hedging reserve </td><td></td><td></td></tr><tr><td class=\"t m0 x1e7 h193 y23e2 ff76 fs129 fc1 sc0 ls76 ws5\">for r<span class=\"_ _0\"></span>elationships for which hedge acc<span class=\"_ _0\"></span>ount<span class=\"_ _2\"></span>ing </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w7ff h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">no longer applies<span class=\"_ _314\"> </span></div></td><td class=\"c n xd64 y2069 w819 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a31m<span class=\"_ _0\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd65 h193 y23e3 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs510\">17<span class=\"_ _3\"></span>.4b Cash f<span class=\"_ _2\"></span>low<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs511\">The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p uses c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low h<span class=\"_ _2\"></span>edg<span class=\"_ _2\"></span>es to man<span class=\"_ _2\"></span>age t<span class=\"_ _2\"></span>he inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t rate r<span class=\"_ _2\"></span>isk </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs512\">on cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>lows of<span class=\"_ _0\"></span> highly probable<span class=\"_ _0\"></span> forecast transact<span class=\"_ _2\"></span>ions.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls7 wsa gs513\">Interest rate swaps<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs514\">In 2021<span class=\"_ _2\"></span>, th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up ente<span class=\"_ _2\"></span>red in<span class=\"_ _2\"></span>to a ser<span class=\"_ _2\"></span>ies of US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>r inte<span class=\"_ _2\"></span>rest r<span class=\"_ _2\"></span>ate sw<span class=\"_ _2\"></span>aps </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls46 ws7 gs515\">with tenures of<span class=\"_ _0\"></span> three, fi<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> and ten y<span class=\"_ _0\"></span>ears<span class=\"_ _2\"></span>, with aggregate<span class=\"_ _0\"></span> principal amount<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs516\">of US$500 million, US$<span class=\"_ _0\"></span>1<span class=\"_ _2\"></span>,000 million and<span class=\"_ _0\"></span> US$1,<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>50 million respecti<span class=\"_ _2\"></span>vely<span class=\"_ _0\"></span>. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs517\">The i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st r<span class=\"_ _2\"></span>ate sw<span class=\"_ _2\"></span>aps wer<span class=\"_ _2\"></span>e desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d as ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low he<span class=\"_ _2\"></span>dges w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs518\">hedged item being planned<span class=\"_ _0\"></span> bond issuances that wer<span class=\"_ _0\"></span>e deemed highly </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs519\">probable at the time<span class=\"_ _0\"></span> and related t<span class=\"_ _0\"></span>o the Refiniti<span class=\"_ _2\"></span>v ac<span class=\"_ _0\"></span>quisit<span class=\"_ _2\"></span>ion. The<span class=\"_ _0\"></span> interest </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs51a\">ra<span class=\"_ _2\"></span>te swa<span class=\"_ _2\"></span>ps were s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle<span class=\"_ _2\"></span>d in Mar<span class=\"_ _2\"></span>ch and A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2021 wh<span class=\"_ _2\"></span>en the n<span class=\"_ _2\"></span>ew bon<span class=\"_ _2\"></span>ds </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs51b\">were i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d (see n<span class=\"_ _2\"></span>ote 1<span class=\"_ _2\"></span>6.1). A<span class=\"_ _2\"></span>t the d<span class=\"_ _2\"></span>ate of set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>lem<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>, a gain o<span class=\"_ _2\"></span>f </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs51c\">US$3<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span><span class=\"_ gsbf\"> </span>million (\u00a322 million) was<span class=\"_ _0\"></span> recognised in the hedging r<span class=\"_ _0\"></span>eser<span class=\"_ _2\"></span>ve, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 wse1 gs51d\">representing the effect<span class=\"_ _2\"></span>ive portion of the gain on<span class=\"_ _0\"></span> the hedging inst<span class=\"_ _2\"></span>rument. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs51e\">Thi<span class=\"_ _2\"></span>s wil<span class=\"_ _2\"></span>l be rec<span class=\"_ _2\"></span>ycl<span class=\"_ _2\"></span>ed to th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent ove<span class=\"_ _2\"></span>r the t<span class=\"_ _2\"></span>erm of t<span class=\"_ _2\"></span>he de<span class=\"_ _2\"></span>bt.<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs51f\">During the year<span class=\"_ _0\"></span>, \u00a35 million<span class=\"_ _0\"></span> (202<span class=\"_ _3\"></span>4: \u00a36 million<span class=\"_ _0\"></span>) was recycled to the<span class=\"_ _0\"></span> income </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs520\">statement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> including \u00a3<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span> million recycled on part<span class=\"_ _2\"></span>ial<span class=\"_ _0\"></span> repurchase of<span class=\"_ _0\"></span> the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs521\">original US$1,250 million bond<span class=\"_ _0\"></span> in March 20<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span> (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a3<span class=\"_ _2\"></span>2 million<span class=\"_ _0\"></span>).<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs522\">At 31 December 2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>5, a gain of<span class=\"_ _0\"></span> \u00a36 million (2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>4: \u00a311 mill<span class=\"_ _0\"></span>ion) remained </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs523\">in the cash flow hedge reserve.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs524\">17<span class=\"_ _3\"></span>.4c Fair value hedges<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 lsc ws7 gs525\">The Group uses<span class=\"_ _0\"></span> fair value hedges to<span class=\"_ _0\"></span> hedge the risk of changes i<span class=\"_ _0\"></span>n the fair </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs526\">val<span class=\"_ _2\"></span>ue of i<span class=\"_ _2\"></span>ts f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d rate b<span class=\"_ _2\"></span>orro<span class=\"_ _2\"></span>wing<span class=\"_ _2\"></span>s resu<span class=\"_ _2\"></span>lti<span class=\"_ _2\"></span>ng fro<span class=\"_ _2\"></span>m inte<span class=\"_ _2\"></span>rest r<span class=\"_ _2\"></span>ate mov<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls7 wsa gs527\">Interest rate swaps<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs528\">In S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2023<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>ssu<span class=\"_ _2\"></span>ed t<span class=\"_ _2\"></span>wo \u20ac70<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d rate<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs529\">bo<span class=\"_ _2\"></span>nds<span class=\"_ _2\"></span>, matur<span class=\"_ _2\"></span>ing i<span class=\"_ _2\"></span>n 2026 and 203<span class=\"_ _2\"></span>0 (see no<span class=\"_ _2\"></span>te 16<span class=\"_ _2\"></span>.1). O<span class=\"_ _2\"></span>n the s<span class=\"_ _2\"></span>ame day, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs52a\">the Group enter<span class=\"_ _0\"></span>ed into a series<span class=\"_ _0\"></span> of euro int<span class=\"_ _0\"></span>erest rate swaps with tenures </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs52b\">of three and<span class=\"_ _0\"></span> seven years, each<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th aggregat<span class=\"_ _0\"></span>e notional amounts of </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs52c\">\u20ac700 million.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs52d\">In M<span class=\"_ _2\"></span>arch 2024, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p issu<span class=\"_ _2\"></span>ed a US<span class=\"_ _2\"></span>$750 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs52e\">mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in 203<span class=\"_ _2\"></span>4, as d<span class=\"_ _2\"></span>iscl<span class=\"_ _2\"></span>osed i<span class=\"_ _2\"></span>n note 1<span class=\"_ _2\"></span>6.1. O<span class=\"_ _2\"></span>n th<span class=\"_ _2\"></span>e same d<span class=\"_ _2\"></span>ay<span class=\"_ _0\"></span>, t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs52f\">entered int<span class=\"_ _0\"></span>o a series of<span class=\"_ _0\"></span> US dollar inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> rate swaps with a notional </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs530\">amount of US$750 mill<span class=\"_ _0\"></span>ion. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs531\">In S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d a \u00a3400 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs532\">mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in 2028, a<span class=\"_ _2\"></span>nd a \u00a350<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion f<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>xed rat<span class=\"_ _2\"></span>e bond<span class=\"_ _2\"></span>, matu<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g in </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs533\">2032, a<span class=\"_ _2\"></span>s disc<span class=\"_ _2\"></span>lose<span class=\"_ _2\"></span>d in note 1<span class=\"_ _2\"></span>6.1<span class=\"_ _2\"></span>. On t<span class=\"_ _2\"></span>he sam<span class=\"_ _2\"></span>e day, the G<span class=\"_ _2\"></span>roup e<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>d </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs534\">int<span class=\"_ _2\"></span>o a seri<span class=\"_ _2\"></span>es of G<span class=\"_ _2\"></span>BP in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rate s<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>s wi<span class=\"_ _2\"></span>th ten<span class=\"_ _2\"></span>ures of t<span class=\"_ _2\"></span>hree a<span class=\"_ _2\"></span>nd </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs535\">seven y<span class=\"_ _0\"></span>ears<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th aggregat<span class=\"_ _0\"></span>e notional amounts of \u00a3400 million </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs536\">and \u00a3500 million res<span class=\"_ _0\"></span>pec<span class=\"_ _2\"></span>tively.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs537\">A<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup rec<span class=\"_ _2\"></span>eive<span class=\"_ _2\"></span>s a fi<span class=\"_ _2\"></span>xed ra<span class=\"_ _2\"></span>te of inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t and </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs538\">pays float<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> rate interest based on<span class=\"_ _0\"></span> the Euro Short-T<span class=\"_ _25e\"></span>er<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span> Rate (ESTR), </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs539\">the Secured Overnight Financing Rat<span class=\"_ _0\"></span>e (SOFR) or St<span class=\"_ _0\"></span>erling Overnight </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs53a\">In<span class=\"_ _2\"></span>dex Aver<span class=\"_ _2\"></span>age (S<span class=\"_ _2\"></span>ON<span class=\"_ _2\"></span>IA<span class=\"_ _2\"></span>) plus a s<span class=\"_ _2\"></span>pread fo<span class=\"_ _2\"></span>r the e<span class=\"_ _2\"></span>uro, US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>r and G<span class=\"_ _2\"></span>BP </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs53b\">sw<span class=\"_ _2\"></span>aps res<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ivel<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. I<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st ha<span class=\"_ _2\"></span>s been s<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>ped f<span class=\"_ _2\"></span>rom f<span class=\"_ _2\"></span>ixed t<span class=\"_ _2\"></span>o fl<span class=\"_ _2\"></span>oat<span class=\"_ _2\"></span>ing </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs53c\">as part of the Group\u2019<span class=\"_ _0\"></span>s interest rat<span class=\"_ _0\"></span>e management policy (see note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.5).<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs53e\">The b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s and in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps have b<span class=\"_ _2\"></span>een de<span class=\"_ _2\"></span>sign<span class=\"_ _2\"></span>ated a<span class=\"_ _2\"></span>s the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls46 ws7 gs53f\">hedged items and hedging instrument<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> in a fair value<span class=\"_ _0\"></span> hedge relationship. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs540\">There is<span class=\"_ _0\"></span> an economic relationship<span class=\"_ _0\"></span> bet<span class=\"_ _2\"></span>ween the hedged items<span class=\"_ _0\"></span> and </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs541\">he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g ins<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>umen<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>s the te<span class=\"_ _2\"></span>rms of t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d leg of t<span class=\"_ _2\"></span>he in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rate<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs542\">sw<span class=\"_ _2\"></span>aps ma<span class=\"_ _2\"></span>tch th<span class=\"_ _2\"></span>e term<span class=\"_ _2\"></span>s of the b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s, su<span class=\"_ _2\"></span>ch as no<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>al amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s, i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs543\">ra<span class=\"_ _2\"></span>tes and m<span class=\"_ _2\"></span>atur<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y dat<span class=\"_ _2\"></span>es. Th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up has e<span class=\"_ _2\"></span>sta<span class=\"_ _2\"></span>bli<span class=\"_ _2\"></span>shed a h<span class=\"_ _2\"></span>edge r<span class=\"_ _2\"></span>at<span class=\"_ _2\"></span>io of 1:1<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs544\">for t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge rel<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>onsh<span class=\"_ _2\"></span>ips as t<span class=\"_ _2\"></span>he un<span class=\"_ _2\"></span>derl<span class=\"_ _2\"></span>yi<span class=\"_ _2\"></span>ng int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t rate r<span class=\"_ _2\"></span>isk of t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs545\">derivat<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> is identical to the hedged risk c<span class=\"_ _0\"></span>omponent<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs546\">T<span class=\"_ _3\"></span>o assess hedge ef<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>tiveness, the Group uses regr<span class=\"_ _0\"></span>ession analysis </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs547\">for i<span class=\"_ _2\"></span>ts re<span class=\"_ _2\"></span>tros<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve he<span class=\"_ _2\"></span>dge ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>ness te<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ing to e<span class=\"_ _2\"></span>nsure t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs548\">remained highly e<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fecti<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>. The Group uses the<span class=\"_ _0\"></span> cri<span class=\"_ _2\"></span>tical terms<span class=\"_ _0\"></span> match </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs549\">approach for<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s pr<span class=\"_ _0\"></span>ospec<span class=\"_ _2\"></span>tive hedge effec<span class=\"_ _2\"></span>tiveness testing to ensur<span class=\"_ _0\"></span>e the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 lsb ws3 gs54a\">he<span class=\"_ _2\"></span>dge is ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d to remai<span class=\"_ _2\"></span>n high<span class=\"_ _2\"></span>ly ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive. S<span class=\"_ _2\"></span>ource<span class=\"_ _2\"></span>s of pote<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>al hed<span class=\"_ _2\"></span>ge </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs54b\">ineffec<span class=\"_ _2\"></span>tiveness include counterpart<span class=\"_ _2\"></span>y cr<span class=\"_ _0\"></span>edi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> risk<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> which impac<span class=\"_ _2\"></span>ts fair value </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs54c\">movements of the hedging instrument<span class=\"_ _2\"></span>s but no<span class=\"_ _0\"></span>t the hedged items.<span class=\"_ _314\"> </span></div><div class=\"gs54d\"><table class=\"s w81a h288\" id=\"_57e0f3e1-0972-43ff-8dad-8fafe82571f4\"><tr><td class=\"c n x1eb y23e4 w81b h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 lse5 ws75\">\u20ac1,40<span class=\"_ _2\"></span>0 mil<span class=\"_ _0\"></span>lion interest rate<span class=\"_ _0\"></span> swaps<span class=\"_ _314\"> </span></div></td><td class=\"c n xd66 y23e4 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd67 y23e4 w32 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219a w7f8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd68 y219a w712 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa3 wsce\">\u00a341<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xa45 y219a w81c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">\u00a3<span class=\"_ _2\"></span>57m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2157 w81d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd69 y2157 w81e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a316m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6a y2157 w81f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 wsaf\">(\u00a3<span class=\"_ _2\"></span>2m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2158 w820 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> the hedging instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6b y2158 w821 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">\u20ac1,400m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6c y2158 w822 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u20ac<span class=\"_ _2\"></span>1,40<span class=\"_ _2\"></span>0m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23e5 w7d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6d y23e5 w6a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6e y23e5 w7d9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y23ae w823 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>rr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs on t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6f y23ae w824 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">(\u00a31<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>246m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd70 y23ae w825 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(\u00a31<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>200<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23e6 ff76 fs129 fc1 sc0 ls6c ws7e\">Accumulated<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of fair value<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tment </td><td></td><td></td></tr><tr><td class=\"c n x1eb y215b w826 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd71 y215b w827 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a3<span class=\"_ _2\"></span>26m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd72 y215b w828 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls61 ws86\">(<span class=\"_ _2\"></span>\u00a343m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a0 w829 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd73 y21a0 w82a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">\u00a31<span class=\"_ _2\"></span>7m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd74 y21a0 w82b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">\u00a3<span class=\"_ _2\"></span>2m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23af ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness recor<span class=\"_ _0\"></span>ded in finance income </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w82c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">and finance costs in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _314\"> </span></div></td><td class=\"c n xd75 y2069 w82d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d ws97\">\u00a32m<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd76 h193 y23b0 ff76 fs129 fc1 sc0 ls39 ws0\">(\u00a3<span class=\"_ _2\"></span>1m)<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"gs54e\"><table class=\"s w82e h289\" id=\"_2147ba23-a251-464e-b1f5-00b0995ed73e\"><tr><td class=\"c n x1eb y23e7 w82f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">US$750 million int<span class=\"_ _0\"></span>erest rate swaps<span class=\"_ _314\"> </span></div></td><td class=\"c n xd77 y23e7 w31 h225\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd78 y23e7 w32 h225\"><div class=\"t m0 x1e4 h187 y20d6 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219a w7f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd79 y219a w292 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a316<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7a y219a w830 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls39 ws0\">(<span class=\"_ _2\"></span>\u00a31m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2157 w81d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7b y2157 w747 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a318<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7c y2157 w831 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls39 ws0\">(\u00a39<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2158 w820 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> the hedging instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7d y2158 w832 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls89 ws79\">US$750m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7e y2158 w833 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _2\"></span>$750m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23e5 w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6d y23e5 w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6e y23e5 w7d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y23ae w823 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>rr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs on t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7f y23ae w834 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a3<span class=\"_ _0\"></span>561m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd80 y23ae w835 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">(<span class=\"_ _2\"></span>\u00a35<span class=\"_ _2\"></span>87m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23e6 ff76 fs129 fc1 sc0 ls6c ws7e\">Accumulated<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of fair value<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tment </td><td></td><td></td></tr><tr><td class=\"c n x1eb y215b w826 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd81 y215b w836 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a38<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd82 y215b w837 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">\u00a39m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a0 w829 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd83 y21a0 w838 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">(<span class=\"_ _2\"></span>\u00a317m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd84 y21a0 w839 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">\u00a39<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23e8 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness recor<span class=\"_ _0\"></span>ded in finance income </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w82c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">and finance costs in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _314\"> </span></div></td><td class=\"c n xd85 y2069 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd4d h193 y23e9 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"gs54f\"><table class=\"s w83a h28a\" id=\"_45b9d646-ca1f-44de-9a68-9074101b2517\"><tr><td class=\"c n x1eb y23ea w83b h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws75\">\u00a3900 million interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></div></td><td class=\"c n xd86 y23ea w31 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2156 w7f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd87 y2156 w83c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a311<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23eb w81d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd88 y23eb w83d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">\u00a35m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2158 w820 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> the hedging instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd89 y2158 w83e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">\u00a3900m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y221a w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6d y221a w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y219d w823 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>rr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs on t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd8a y219d w83f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">(\u00a3899m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23ec ff76 fs129 fc1 sc0 ls6c ws7e\">Accumulated<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of fair value<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tment </td><td></td></tr><tr><td class=\"c n x1eb y23ed w826 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd8b y23ed w840 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a35m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b1 w829 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd73 y21b1 w840 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a35m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23ee ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness recor<span class=\"_ _0\"></span>ded in finance income </td><td></td></tr><tr><td class=\"c n x1eb y2069 w82c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">and finance costs in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _314\"> </span></div></td><td class=\"c n xd85 y2069 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs551\">17<span class=\"_ _3\"></span>.4d Derivat<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> not designated as hedges<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls6 ws7 gs552\">Cross-<span class=\"_ _2\"></span>curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> interest rate swaps<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs553\">A<span class=\"_ _2\"></span>s par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he bo<span class=\"_ _2\"></span>nd iss<span class=\"_ _2\"></span>uance a<span class=\"_ _2\"></span>nd in a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tion t<span class=\"_ _2\"></span>o the i<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t ra<span class=\"_ _2\"></span>te swa<span class=\"_ _2\"></span>ps </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs554\">entered int<span class=\"_ _0\"></span>o in September 2<span class=\"_ _0\"></span>023, as<span class=\"_ _0\"></span> noted in 17<span class=\"_ _3\"></span>.4c, the Group entered </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs555\">into a<span class=\"_ _0\"></span> series of cross-currenc<span class=\"_ _2\"></span>y int<span class=\"_ _0\"></span>erest rate swaps to<span class=\"_ _0\"></span> swap the t<span class=\"_ _2\"></span>wo </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs556\">\u20ac70<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s to US$<span class=\"_ _2\"></span>7<span class=\"_ _0\"></span>40 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on, w<span class=\"_ _2\"></span>ith a te<span class=\"_ _2\"></span>nure of t<span class=\"_ _2\"></span>hre<span class=\"_ _2\"></span>e year<span class=\"_ _2\"></span>s, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs557\">and US$7<span class=\"_ _0\"></span>42<span class=\"_ _0\"></span> million, with a tenure<span class=\"_ _0\"></span> of seven y<span class=\"_ _0\"></span>ears<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> These inst<span class=\"_ _2\"></span>ruments </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs558\">effec<span class=\"_ _2\"></span>tively e<span class=\"_ _0\"></span>xchange the<span class=\"_ _0\"></span> obligations and coupons<span class=\"_ _0\"></span> of the bonds<span class=\"_ _0\"></span> and </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs559\">int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t rate s<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>s from eu<span class=\"_ _2\"></span>ros to US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>rs<span class=\"_ _2\"></span>, in acco<span class=\"_ _2\"></span>rdanc<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>h th<span class=\"_ _2\"></span>e </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs55a\">Gro<span class=\"_ _2\"></span>up\u2019s forei<span class=\"_ _2\"></span>gn excha<span class=\"_ _2\"></span>nge ri<span class=\"_ _2\"></span>sk man<span class=\"_ _2\"></span>agem<span class=\"_ _2\"></span>ent p<span class=\"_ _2\"></span>olic<span class=\"_ _2\"></span>y (se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>7<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>5). </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs55b\">A<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup rec<span class=\"_ _2\"></span>eive<span class=\"_ _2\"></span>s euro f<span class=\"_ _2\"></span>loa<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g rate </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs55c\">int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t base<span class=\"_ _2\"></span>d on ES<span class=\"_ _2\"></span>TR plu<span class=\"_ _2\"></span>s a spre<span class=\"_ _2\"></span>ad and p<span class=\"_ _2\"></span>ays U<span class=\"_ _2\"></span>S doll<span class=\"_ _2\"></span>ar f<span class=\"_ _2\"></span>loat<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs55d\">ra<span class=\"_ _2\"></span>te intere<span class=\"_ _2\"></span>st b<span class=\"_ _2\"></span>ased o<span class=\"_ _2\"></span>n SOF<span class=\"_ _2\"></span>R plu<span class=\"_ _2\"></span>s a sprea<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs55e\">The cross-currenc<span class=\"_ _2\"></span>y int<span class=\"_ _0\"></span>erest rate swaps have<span class=\"_ _0\"></span> not been designated<span class=\"_ _0\"></span> as </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs55f\">he<span class=\"_ _2\"></span>dges a<span class=\"_ _2\"></span>s a por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of t<span class=\"_ _2\"></span>heir f<span class=\"_ _2\"></span>air v<span class=\"_ _2\"></span>alue m<span class=\"_ _2\"></span>oveme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s of<span class=\"_ _2\"></span>fse<span class=\"_ _2\"></span>t wit<span class=\"_ _2\"></span>h inco<span class=\"_ _2\"></span>me </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs560\">statement movements arising on other financial assets and liabilities, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs561\">resulting in a<span class=\"_ _0\"></span> natural hedge.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls6 ws7 gs562\">Foreign currency forwards<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs563\">The Group<span class=\"_ _0\"></span> uses for<span class=\"_ _0\"></span>eign ex<span class=\"_ _0\"></span>change contract<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to manage<span class=\"_ _0\"></span> foreign </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs564\">excha<span class=\"_ _2\"></span>nge r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>. It en<span class=\"_ _2\"></span>ters i<span class=\"_ _2\"></span>nto a se<span class=\"_ _2\"></span>ries of e<span class=\"_ _2\"></span>xchang<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s to pu<span class=\"_ _2\"></span>rchas<span class=\"_ _2\"></span>e </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs565\">or sell c<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>tain currencies<span class=\"_ _0\"></span> agains<span class=\"_ _2\"></span>t sterling<span class=\"_ _0\"></span> and US dollars in the future </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs566\">at fixed amounts<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The cumulative sterling notional amounts of contract<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs567\">ou<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>ndin<span class=\"_ _2\"></span>g as at 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mber 2025 an<span class=\"_ _2\"></span>d 31 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 202<span class=\"_ _0\"></span>4 we<span class=\"_ _2\"></span>re </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs568\">as fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span></div><div class=\"gs569\"><table class=\"s w841 h28b\" id=\"_275cb76b-11b2-47ba-9e05-b7bd9ee0f202\"><tr><td></td><td></td><td class=\"c n xd8c y23ef w842 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">T<span class=\"_ _0\"></span>raded against<span class=\"_ _0\"></span> sterling<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xd8d y23ef w843 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">T<span class=\"_ _0\"></span>raded against US<span class=\"_ _0\"></span> dollar<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xd8e y23f0 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd8f y23f0 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n xd90 y23f0 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd91 y23f0 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f1 w844 h234\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs6 fc1 sc0 ls110 ws183\">Sell/(buy)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd92 y23f1 w845 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls89 ws79\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd93 y23f1 w846 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd94 y23f1 w845 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls89 ws79\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x739 y23f1 w847 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f2 w70a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">Euro<span class=\"_ _314\"> </span></div></td><td class=\"c n xd95 y23f2 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xd96 y23f2 w848 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">(<span class=\"_ _2\"></span>55)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd97 y23f2 w849 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">138<span class=\"_ _314\"> </span></div></td><td class=\"c n xd98 y23f2 w84a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">121<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f3 w711 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">US dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xd99 y23f3 w84b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(194)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9a y23f3 w31d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9b y23f3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9c y23f3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f4 w84c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Japanese yen<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9d y23f4 w84d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">(54)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9e y23f4 w430 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(49<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9f y23f4 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xda0 y23f4 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f5 w84e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Singapore dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xda1 y23f5 w84d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda2 y23f5 w84f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(<span class=\"_ _2\"></span>33)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda3 y23f5 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xda4 y23f5 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22dd w850 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Hong K<span class=\"_ _0\"></span>ong dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xda5 y22dd w2d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d ws97\">(39)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda6 y22dd w267 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>32)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd44 y22dd w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xa3d y22dd w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22de w851 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6d wsd4\">Romanian leu<span class=\"_ _314\"> </span></div></td><td class=\"c n xda7 y22de w852 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda6 y22de w853 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(22)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda8 y22de w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xda9 y22de w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f6 w854 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Australian dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xdaa y23f6 w3a6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdab y23f6 w3df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">(<span class=\"_ _2\"></span>15)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdac y23f6 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdad y23f6 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e0 w855 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Canadian dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xdae y22e0 w4b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">(30)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdaf y22e0 w409 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb0 y22e0 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb1 y22e0 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f7 w856 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">South African rand<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb2 y23f7 w3d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb3 y23f7 w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xa21 y23f7 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb4 y23f7 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f8 w857 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Danish krone<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb5 y23f8 w858 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(10)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb6 y23f8 w859 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">(9)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb7 y23f8 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb8 y23f8 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e3 w85a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ai<span class=\"_ _2\"></span>wan<span class=\"_ _0\"></span> dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb9 y22e3 w3ab h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">(28)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdba y22e3 w19f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(8)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbb y22e3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbc y22e3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f9 w85b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Swiss franc<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbd y23f9 w3ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">(8)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbe y23f9 w663 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(6)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbf y23f9 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc0 y23f9 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w717 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other currencies<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc1 y2069 w85c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(26)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdc2 h193 y23fa ff76 fs129 fc1 sc0 ls75 ws9e\">(18)<span class=\"_ _314\"> </span></td><td class=\"c n x9c7 y2069 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc3 y2069 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs56b\">17<span class=\"_ _3\"></span>.4e Hed<span class=\"_ _2\"></span>ging<span class=\"_ _0\"></span> reser<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div><div class=\"gs56c\"><table class=\"s w85d h28c\" id=\"_911c1fd2-6fe7-412e-bb69-7cae2f80ea45\"><tr><td></td><td></td><td class=\"c n x4e9 y23fb w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc4 y23fb w32 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x956 y23fc w218 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x957 y23fc w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc5 y23fc w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23fd w342 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdc6 y23fd w56 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc7 y23fd w1a9 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23fe ff76 fs129 fc1 sc0 ls76 ws5\">Net (losses)/gains on<span class=\"_ _0\"></span> net </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y23ff w85e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">investment hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc8 y23ff w649 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa1 wsda\">18.2<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc9 y23ff w195 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">(29)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdca y23ff w99 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb0 wsdb\">47<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2289 w85f h226\"><div class=\"t m0 x1e4 h193 y2116 ff76 fs129 fc1 sc0 ls6a ws3\">Am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>ts re<span class=\"_ _2\"></span>cy<span class=\"_ _2\"></span>cled t<span class=\"_ _2\"></span>o the<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">income statement<span class=\"_ _314\"> </span></div></td><td class=\"c n xdcb y2289 web h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa1 wsda\">18.2<span class=\"_ _314\"> </span></div></td><td class=\"c n xdcc y2289 w41a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">(5)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdcd y2289 w9d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdce y2069 w860 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdcf h193 y2400 ff76 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs56d\">A<span class=\"_ _2\"></span>s at 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2025, \u00a3<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n of los<span class=\"_ _2\"></span>ses (<span class=\"_ _2\"></span>202<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4 mil<span class=\"_ _2\"></span>lion o<span class=\"_ _2\"></span>f </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs56e\">losses) r<span class=\"_ _0\"></span>emain in reserves that have<span class=\"_ _0\"></span> not been recycled to the<span class=\"_ _0\"></span> income </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs56f\">statement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> as the Group continues to<span class=\"_ _0\"></span> hold the underly<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ments.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls51 ws73 gs571\">17<span class=\"_ _3\"></span>.5 Financial risk<span class=\"_ _0\"></span> management<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls46 ws5 gs572\">The Group seeks t<span class=\"_ _0\"></span>o protect it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial performance and<span class=\"_ _0\"></span> the value of its business from various risks including e<span class=\"_ _0\"></span>xposure to capital, credit, concentration, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs573\">countr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, liquidity,<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement, cus<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>odial and market<span class=\"_ _0\"></span> (including foreign e<span class=\"_ _0\"></span>xchange and int<span class=\"_ _0\"></span>erest rate) risks. Details o<span class=\"_ _0\"></span>f these risks, which should be r<span class=\"_ _0\"></span>ead </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs574\">in co<span class=\"_ _2\"></span>njun<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the P<span class=\"_ _2\"></span>rinc<span class=\"_ _2\"></span>ipal R<span class=\"_ _2\"></span>isks o<span class=\"_ _2\"></span>n pag<span class=\"_ _2\"></span>es 52 to 55, a<span class=\"_ _2\"></span>re prov<span class=\"_ _2\"></span>ided b<span class=\"_ _2\"></span>elo<span class=\"_ _2\"></span>w<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls4 ws2b gs575\">Capital risk<span class=\"_ _314\"> </span></div><div class=\"t m0 h13 ff75 fs6 fc1 sc0 lse5 ws75 gs576\">Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs577\">Capital risk relates<span class=\"_ _0\"></span> to the Group<span class=\"_ _0\"></span>\u2019s ability to </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs578\">meet regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y capital requir<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls76 ws5 gs579\">minimum internal in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ment r<span class=\"_ _0\"></span>eturns.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs57a\">Th<span class=\"_ _2\"></span>ere is a r<span class=\"_ _2\"></span>isk t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s ent<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies m<span class=\"_ _2\"></span>ay </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs57b\">not m<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>, or ha<span class=\"_ _2\"></span>ve con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>ued ac<span class=\"_ _2\"></span>cess t<span class=\"_ _2\"></span>o, </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs57c\">suf<span class=\"_ _2\"></span>ficient high-<span class=\"_ _2\"></span>quality capital to meet<span class=\"_ _0\"></span> their </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs57d\">regulatory,<span class=\"_ _0\"></span> or other obligations. This c<span class=\"_ _0\"></span>ould </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs57e\">result in<span class=\"_ _0\"></span> a loss of<span class=\"_ _0\"></span> regulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> approvals and/or </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs57f\">the imposition of financial sanctions.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls76 ws5 gs580\">Either separately,<span class=\"_ _0\"></span> or in combination, the main </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs581\">capital risks faced by<span class=\"_ _0\"></span> the Group are<span class=\"_ _0\"></span>:</div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls4 ws3 gs582\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">An increased regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y capital requir<span class=\"_ _0\"></span>ement </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs583\">of its regulated<span class=\"_ _0\"></span> companies</div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls4 ws3 gs584\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Realised, negative yields on its invest<span class=\"_ _2\"></span>ments</span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls4 ws3 gs585\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">A<span class=\"_ _2\"></span>n inab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y to rai<span class=\"_ _2\"></span>se deb<span class=\"_ _2\"></span>t or eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>anci<span class=\"_ _2\"></span>ng </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs586\">as a re<span class=\"_ _2\"></span>sul<span class=\"_ _2\"></span>t of it<span class=\"_ _2\"></span>s own p<span class=\"_ _2\"></span>oor f<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>nanc<span class=\"_ _2\"></span>ial </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs587\">per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance, or<span class=\"_ _0\"></span> poor financing conditions<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs588\">The Group,<span class=\"_ _0\"></span> which consists of both regulat<span class=\"_ _0\"></span>ed and unregulat<span class=\"_ _0\"></span>ed entit<span class=\"_ _2\"></span>ies,<span class=\"_ _0\"></span> is profit<span class=\"_ _2\"></span>able<span class=\"_ _0\"></span> and strongly cash </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs589\">ge<span class=\"_ _2\"></span>nera<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve. It c<span class=\"_ _2\"></span>an ma<span class=\"_ _2\"></span>nage i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l st<span class=\"_ _2\"></span>ruc<span class=\"_ _2\"></span>tu<span class=\"_ _2\"></span>re (wh<span class=\"_ _2\"></span>ich co<span class=\"_ _2\"></span>nsi<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s of eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d deb<span class=\"_ _2\"></span>t cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l) an<span class=\"_ _2\"></span>d reac<span class=\"_ _2\"></span>t to </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs58a\">changes in<span class=\"_ _0\"></span> economic conditions<span class=\"_ _0\"></span> by var<span class=\"_ _2\"></span>ying<span class=\"_ _0\"></span> returns to<span class=\"_ _0\"></span> shareholders, issuing<span class=\"_ _0\"></span> new shares<span class=\"_ _0\"></span> or increasi<span class=\"_ _0\"></span>ng or </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs58b\">reducing borr<span class=\"_ _0\"></span>owings. The Board<span class=\"_ _0\"></span> reviews dividend policy and funding<span class=\"_ _0\"></span> capacit<span class=\"_ _2\"></span>y on<span class=\"_ _0\"></span> a regular<span class=\"_ _0\"></span> basis and the </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs58c\">Group maintains c<span class=\"_ _0\"></span>omfor<span class=\"_ _2\"></span>table lev<span class=\"_ _0\"></span>els of debt<span class=\"_ _0\"></span> facilit<span class=\"_ _2\"></span>y headroom. A<span class=\"_ _0\"></span> high-<span class=\"_ _2\"></span>level<span class=\"_ _0\"></span> summar<span class=\"_ _2\"></span>y o<span class=\"_ _0\"></span>f the Group\u2019<span class=\"_ _0\"></span>s capital </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs58d\">s<span class=\"_ _2\"></span>tru<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ure is p<span class=\"_ _2\"></span>rese<span class=\"_ _2\"></span>nted b<span class=\"_ _2\"></span>elow<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span></div><div class=\"gs58e\"><table class=\"s w861 h28d\" id=\"_e05e6688-ef72-4201-a601-aac3463eb5af\"><tr><td></td><td class=\"c n xdd1 y2401 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2401 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2402 w862 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls7b wsb4\">Book value of capital<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd3 y2402 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd4 y2402 w5fb h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w863 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> shareholders\u2019 funds<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd5 y22e4 w121 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">19,7<span class=\"_ _2\"></span>79<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd6 y22e4 w15e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6f ws99\">23<span class=\"_ _2\"></span>,013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w864 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Group borrowings<span class=\"_ _0\"></span> excluding<span class=\"_ _0\"></span> lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd7 y2069 w6f4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls39 ws0\">11<span class=\"_ _2\"></span>,091<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdd8 h193 y2403 ff76 fs129 fc1 sc0 ls4 ws3\">9,3<span class=\"_ _2\"></span>31<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs58f\">Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p main<span class=\"_ _2\"></span>tai<span class=\"_ _2\"></span>ns a C<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal M<span class=\"_ _2\"></span>anag<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nt Pol<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, th<span class=\"_ _2\"></span>e execu<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>s over<span class=\"_ _2\"></span>see<span class=\"_ _2\"></span>n by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs590\">Financial, Investment and Capital Committee. The Group seeks<span class=\"_ _0\"></span> to optimally allocate capital in<span class=\"_ _0\"></span> order to </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs591\">maintain a strong bal<span class=\"_ _0\"></span>ance sheet, meet r<span class=\"_ _0\"></span>egulator<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>equirements<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> dri<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> growt<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> and of<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>er suitable returns </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs592\">to shar<span class=\"_ _0\"></span>eholders<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Regulated entities within the Group monitor<span class=\"_ _0\"></span> compliance with policy and the capital </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs593\">requirements set<span class=\"_ _0\"></span> by their respective regulatory authori<span class=\"_ _2\"></span>ties and<span class=\"_ _0\"></span> they have been<span class=\"_ _0\"></span> compliant throughout </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs594\">the year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs595\">Regulatory and operational capital represents:</div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls4 ws3 gs596\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Amount<span class=\"_ _2\"></span>s held<span class=\"_ _0\"></span> as regulatory cash and cash<span class=\"_ _0\"></span> equiv<span class=\"_ _2\"></span>alents </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls4 ws3 gs597\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">Let<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>rs of c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t iss<span class=\"_ _2\"></span>ued b<span class=\"_ _2\"></span>y the G<span class=\"_ _2\"></span>roup t<span class=\"_ _2\"></span>o cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>rs an<span class=\"_ _2\"></span>d sup<span class=\"_ _2\"></span>plie<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs598\">The Group\u2019<span class=\"_ _0\"></span>s total<span class=\"_ _0\"></span> regulatory and operational capital is shown<span class=\"_ _0\"></span> below<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span></div><div class=\"gs599\"><table class=\"s w865 h275\" id=\"_0532d944-f7eb-4509-b9c4-1a60df215b43\"><tr><td></td><td class=\"c n xdd1 y2404 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2404 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e2 w866 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">Regulatory and operational capital<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd9 y22e2 w34 h225\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xdda y22e2 w5fb h225\"><div class=\"t m0 x1e4 h187 y20d6 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w867 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Regulatory cash and cash<span class=\"_ _0\"></span> equiv<span class=\"_ _2\"></span>alents<span class=\"_ _314\"> </span></div></td><td class=\"c n xddb y2288 w868 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xddc y2288 w869 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>342<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w86a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Let<span class=\"_ _2\"></span>ter<span class=\"_ _2\"></span>s of cre<span class=\"_ _2\"></span>dit<span class=\"_ _314\"> </span></div></td><td class=\"c n xddd y228f w639 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">16<span class=\"_ _314\"> </span></div></td><td class=\"c n xdde y228f wa0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">16<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w86b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y and<span class=\"_ _0\"></span> operational capital<span class=\"_ _314\"> </span></div></td><td class=\"c n xddf y2069 w86c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">1<span class=\"_ _2\"></span>,204<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdd8 h193 y2405 ff76 fs129 fc1 sc0 ls6c ws96\">1,<span class=\"_ _2\"></span>358<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs59a\">T<span class=\"_ _0\"></span>o ens<span class=\"_ _2\"></span>ure on<span class=\"_ _2\"></span>goi<span class=\"_ _2\"></span>ng f<span class=\"_ _2\"></span>inan<span class=\"_ _2\"></span>cial s<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>eng<span class=\"_ _2\"></span>th, a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s to new c<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal a<span class=\"_ _2\"></span>t a reaso<span class=\"_ _2\"></span>nab<span class=\"_ _2\"></span>le cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>, and to su<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ain a<span class=\"_ _2\"></span>n </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs59b\">inv<span class=\"_ _2\"></span>est<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t gra<span class=\"_ _2\"></span>de cre<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p moni<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s it<span class=\"_ _2\"></span>s lev<span class=\"_ _2\"></span>erag<span class=\"_ _2\"></span>e rat<span class=\"_ _2\"></span>io ag<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>st a t<span class=\"_ _2\"></span>arget r<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>e of 1<span class=\"_ _2\"></span>.5<span class=\"_ _2\"></span>-2.5 ti<span class=\"_ _2\"></span>mes<span class=\"_ _2\"></span>. </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs59c\">Leve<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>e is ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated a<span class=\"_ _2\"></span>s ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ing n<span class=\"_ _2\"></span>et deb<span class=\"_ _2\"></span>t (i.e<span class=\"_ _2\"></span>., net d<span class=\"_ _2\"></span>ebt af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r exclu<span class=\"_ _2\"></span>ding l<span class=\"_ _2\"></span>eas<span class=\"_ _2\"></span>e liab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>tie<span class=\"_ _2\"></span>s and am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>ts </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs59d\">set aside<span class=\"_ _0\"></span> for r<span class=\"_ _0\"></span>egulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> and operational purposes)<span class=\"_ _0\"></span> to adjusted<span class=\"_ _0\"></span> EBIT<span class=\"_ _2\"></span>D<span class=\"_ _0\"></span>A befor<span class=\"_ _0\"></span>e fore<span class=\"_ _0\"></span>ign exc<span class=\"_ _0\"></span>hange gains or<span class=\"_ _0\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs59e\">losses (Group<span class=\"_ _0\"></span> adjusted earnings from<span class=\"_ _0\"></span> continuing operations bef<span class=\"_ _0\"></span>ore net<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inanc<span class=\"_ _0\"></span>e costs, tax<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> depreciation, </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs59f\">amor<span class=\"_ _2\"></span>tisation and<span class=\"_ _0\"></span> impairment and be<span class=\"_ _0\"></span>fore f<span class=\"_ _0\"></span>oreign e<span class=\"_ _0\"></span>xchange gains<span class=\"_ _0\"></span> or losses).<span class=\"_ _0\"></span> At 31<span class=\"_ gs5a0\"> </span><span class=\"_ _0\"></span>December 20<span class=\"_ _0\"></span>25, le<span class=\"_ _0\"></span>verage </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5a1\">wa<span class=\"_ _2\"></span>s 1.<span class=\"_ _2\"></span>8 tim<span class=\"_ _2\"></span>es (2024: 1.7 t<span class=\"_ _2\"></span>ime<span class=\"_ _2\"></span>s).<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5a2\">While the Group\u2019<span class=\"_ _0\"></span>s bank<span class=\"_ _0\"></span> borrowing facilities do not inc<span class=\"_ _0\"></span>lude leverage and int<span class=\"_ _0\"></span>erest cover<span class=\"_ _0\"></span> ratio covenants, the </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5a3\">Group takes<span class=\"_ _0\"></span> into acc<span class=\"_ _0\"></span>ount the potential impact to<span class=\"_ _0\"></span> the key<span class=\"_ _0\"></span> metric<span class=\"_ _2\"></span>s monitor<span class=\"_ _0\"></span>ed by credit<span class=\"_ _0\"></span> rat<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> agencies when </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 lsb ws3 gs5a4\">con<span class=\"_ _2\"></span>sid<span class=\"_ _2\"></span>erin<span class=\"_ _2\"></span>g whe<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r to inc<span class=\"_ _2\"></span>rease t<span class=\"_ _2\"></span>he si<span class=\"_ _2\"></span>z<span class=\"_ _0\"></span>e of i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs an<span class=\"_ _2\"></span>d net d<span class=\"_ _2\"></span>ebt<span class=\"_ _2\"></span>. The G<span class=\"_ _2\"></span>roup s<span class=\"_ _2\"></span>eek<span class=\"_ _2\"></span>s to mai<span class=\"_ _2\"></span>nta<span class=\"_ _2\"></span>in a st<span class=\"_ _2\"></span>ron<span class=\"_ _2\"></span>g </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 lsa2 wsdc gs5a5\">inv<span class=\"_ _2\"></span>est<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t gra<span class=\"_ _2\"></span>de cre<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>ing an<span class=\"_ _2\"></span>d wil<span class=\"_ _2\"></span>l alw<span class=\"_ _2\"></span>ays s<span class=\"_ _2\"></span>eek to re<span class=\"_ _2\"></span>tur<span class=\"_ _2\"></span>n leve<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>e to it<span class=\"_ _2\"></span>s tar<span class=\"_ _2\"></span>get ra<span class=\"_ _2\"></span>nge i<span class=\"_ _2\"></span>f it r<span class=\"_ _2\"></span>ises te<span class=\"_ _2\"></span>mpo<span class=\"_ _2\"></span>rar<span class=\"_ _2\"></span>ily.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls22 ws3 gs5a7\">Cre<span class=\"_ _2\"></span>dit and co<span class=\"_ _2\"></span>ncent<span class=\"_ _2\"></span>ratio<span class=\"_ _2\"></span>n risk<span class=\"_ _314\"> </span></div><div class=\"t m0 h13 ff75 fs6 fc1 sc0 lse5 ws75 gs5a8\">Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5a9\">Cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk re<span class=\"_ _2\"></span>late<span class=\"_ _2\"></span>s to the p<span class=\"_ _2\"></span>oten<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>l for a G<span class=\"_ _2\"></span>roup </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5aa\">counterpart<span class=\"_ _2\"></span>y (including C<span class=\"_ _0\"></span>CP members, and </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5ab\">any count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> where there is<span class=\"_ _0\"></span> exposure </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs5ac\">through payment, clearing<span class=\"_ _0\"></span> or settlement </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5ad\">pro<span class=\"_ _2\"></span>ces<span class=\"_ _2\"></span>ses) to b<span class=\"_ _2\"></span>e unab<span class=\"_ _2\"></span>le to me<span class=\"_ _2\"></span>et it<span class=\"_ _2\"></span>s f<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>ncia<span class=\"_ _2\"></span>l </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5ae\">obligations to the<span class=\"_ _0\"></span> Group when due.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs5af\">Credit conc<span class=\"_ _0\"></span>entrat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> risk may a<span class=\"_ _0\"></span>rise through </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5b0\">Group entities having large<span class=\"_ _0\"></span> indiv<span class=\"_ _2\"></span>idual </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5b1\">or connected exposures<span class=\"_ _0\"></span> to groups<span class=\"_ _0\"></span> of </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5b2\">counterpart<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> whose likelihood<span class=\"_ _0\"></span> of default </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs5b3\">is driven<span class=\"_ _0\"></span> by common underlying factors.<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff75 fs129 fc1 sc0 ls6d ws97 gs5b4\">Group<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls21 ws3 gs5b5\">Cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk i<span class=\"_ _2\"></span>s gove<span class=\"_ _2\"></span>rne<span class=\"_ _2\"></span>d by pol<span class=\"_ _2\"></span>icie<span class=\"_ _2\"></span>s deve<span class=\"_ _2\"></span>lop<span class=\"_ _2\"></span>ed at G<span class=\"_ _2\"></span>roup l<span class=\"_ _2\"></span>evel b<span class=\"_ _2\"></span>y the G<span class=\"_ _2\"></span>roup R<span class=\"_ _2\"></span>isk f<span class=\"_ _2\"></span>unc<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on. L<span class=\"_ _2\"></span>imi<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d th<span class=\"_ _2\"></span>resho<span class=\"_ _2\"></span>lds<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5b6\">for c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t and co<span class=\"_ _2\"></span>ncen<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on ri<span class=\"_ _2\"></span>sk are re<span class=\"_ _2\"></span>view<span class=\"_ _2\"></span>ed reg<span class=\"_ _2\"></span>ular<span class=\"_ _2\"></span>ly.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5b7\">Gr<span class=\"_ _2\"></span>oup co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>ies ma<span class=\"_ _2\"></span>ke jud<span class=\"_ _2\"></span>geme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s on t<span class=\"_ _2\"></span>he cre<span class=\"_ _2\"></span>dit q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>eir cl<span class=\"_ _2\"></span>ient<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>. This i<span class=\"_ _2\"></span>s bas<span class=\"_ _2\"></span>ed on t<span class=\"_ _2\"></span>he cli<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>\u2019s </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5b8\">financial position, the recurring nature<span class=\"_ _0\"></span> of billing<span class=\"_ _0\"></span> and collect<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> arrangement<span class=\"_ _2\"></span>s, and<span class=\"_ _0\"></span> his<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>orical evidence </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5b9\">rel<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng to th<span class=\"_ _2\"></span>e clie<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>\u2019s abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y to me<span class=\"_ _2\"></span>et it<span class=\"_ _2\"></span>s f<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>ncia<span class=\"_ _2\"></span>l liab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>tie<span class=\"_ _2\"></span>s as th<span class=\"_ _2\"></span>ey fal<span class=\"_ _2\"></span>l due. T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s cl<span class=\"_ _2\"></span>ient b<span class=\"_ _2\"></span>ase i<span class=\"_ _2\"></span>s dive<span class=\"_ _2\"></span>rs<span class=\"_ _2\"></span>e </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5ba\">an<span class=\"_ _2\"></span>d so man<span class=\"_ _2\"></span>agem<span class=\"_ _2\"></span>ent d<span class=\"_ _2\"></span>eem<span class=\"_ _2\"></span>s conce<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion r<span class=\"_ _2\"></span>isk on t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s re<span class=\"_ _2\"></span>ceiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>es to be l<span class=\"_ _2\"></span>ow. </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5bb\">Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s main c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t ris<span class=\"_ _2\"></span>k exp<span class=\"_ _2\"></span>osure a<span class=\"_ _2\"></span>ris<span class=\"_ _2\"></span>es on t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>inan<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts s<span class=\"_ _2\"></span>hown e<span class=\"_ _2\"></span>arl<span class=\"_ _2\"></span>ier in n<span class=\"_ _2\"></span>ote<span class=\"_ gs5a0\"> </span>17.<span class=\"_ _0\"></span>1<span class=\"_ _2\"></span>. The<span class=\"_ _2\"></span>re have<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5bc\">be<span class=\"_ _2\"></span>en no si<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t incr<span class=\"_ _2\"></span>ease<span class=\"_ _2\"></span>s in cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk fo<span class=\"_ _2\"></span>r the<span class=\"_ _2\"></span>se as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s and n<span class=\"_ _2\"></span>o est<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>ted cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t los<span class=\"_ _2\"></span>ses ha<span class=\"_ _2\"></span>ve bee<span class=\"_ _2\"></span>n </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5bd\">recognised on<span class=\"_ _0\"></span> other financial instr<span class=\"_ _2\"></span>uments.<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff75 fs129 fc1 sc0 ls76 ws5 gs5be\">Non-<span class=\"_ _2\"></span>CCP entities<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5bf\">The principal sour<span class=\"_ _0\"></span>ce of non-CCP credit risk is<span class=\"_ _0\"></span> the credit<span class=\"_ _2\"></span>worthiness of the inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties with </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5c0\">which the Group<span class=\"_ _0\"></span> deposit<span class=\"_ _2\"></span>s cash. The<span class=\"_ _0\"></span> Group manages its credit risk<span class=\"_ _0\"></span> by outlining the maximum financial </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5c1\">exposure that<span class=\"_ _0\"></span> may be tak<span class=\"_ _0\"></span>en against any one<span class=\"_ _0\"></span> counterpar<span class=\"_ _2\"></span>ty,<span class=\"_ _0\"></span> based on an<span class=\"_ _0\"></span> assessment of the count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ty<span class=\"_ _2\"></span>\u2019s<span class=\"_ _0\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls76 ws5 gs5c2\">credit qualit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5c3\">Cash and cash<span class=\"_ _0\"></span> equi<span class=\"_ _2\"></span>valents are<span class=\"_ _0\"></span> held with authorise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> counterpar<span class=\"_ _2\"></span>ties o<span class=\"_ _0\"></span>f a high cr<span class=\"_ _0\"></span>edit<span class=\"_ _2\"></span>wort<span class=\"_ _2\"></span>hiness. Cash is<span class=\"_ _0\"></span> held </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5c4\">in unsecured<span class=\"_ _0\"></span> interest-bearing current and call<span class=\"_ _0\"></span> accounts. Cash equivalent<span class=\"_ _2\"></span>s comprise<span class=\"_ _0\"></span> shor<span class=\"_ _2\"></span>t-term deposits and </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5c5\">A<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>-r<span class=\"_ _2\"></span>ated m<span class=\"_ _2\"></span>oney m<span class=\"_ _2\"></span>arket f<span class=\"_ _2\"></span>und<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5c6\">De<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve t<span class=\"_ _2\"></span>rans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ons (an<span class=\"_ _2\"></span>d oth<span class=\"_ _2\"></span>er tr<span class=\"_ _2\"></span>easu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y recei<span class=\"_ _2\"></span>vab<span class=\"_ _2\"></span>le s<span class=\"_ _2\"></span>tru<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ures) m<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t be in li<span class=\"_ _2\"></span>ne wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s po<span class=\"_ _2\"></span>lic<span class=\"_ _2\"></span>y </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5c7\">framework and may<span class=\"_ _0\"></span> only be undertaken with highly rated count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ties.<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff75 fs129 fc1 sc0 ls4 ws3 gs5c8\">CCPs<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5c9\">Th<span class=\"_ _2\"></span>e prin<span class=\"_ _2\"></span>cip<span class=\"_ _2\"></span>al sou<span class=\"_ _2\"></span>rce of CC<span class=\"_ _2\"></span>P cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk li<span class=\"_ _2\"></span>es in t<span class=\"_ _2\"></span>he pot<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>ial for o<span class=\"_ _2\"></span>ne or m<span class=\"_ _2\"></span>ore cl<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>ing me<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>rs to d<span class=\"_ _2\"></span>efau<span class=\"_ _2\"></span>lt<span class=\"_ _2\"></span>. </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5ca\">Group CCPs manage<span class=\"_ _0\"></span> this risk through r<span class=\"_ _0\"></span>obus<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> risk management. Clearing members are<span class=\"_ _0\"></span> selec<span class=\"_ _2\"></span>ted </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5cb\">based on an<span class=\"_ _0\"></span> assessment of their s<span class=\"_ _0\"></span>uper<span class=\"_ _2\"></span>visor<span class=\"_ _2\"></span>y capital as<span class=\"_ _0\"></span> well as their t<span class=\"_ _0\"></span>echnical and organisational strength. </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5cc\">Eac<span class=\"_ _2\"></span>h mem<span class=\"_ _2\"></span>ber mu<span class=\"_ _2\"></span>st p<span class=\"_ _2\"></span>ay mar<span class=\"_ _2\"></span>gins t<span class=\"_ _2\"></span>o the re<span class=\"_ _2\"></span>leva<span class=\"_ _2\"></span>nt G<span class=\"_ _2\"></span>roup CC<span class=\"_ _2\"></span>P<span class=\"_ _3\"></span>. Th<span class=\"_ _2\"></span>is mu<span class=\"_ _2\"></span>st in<span class=\"_ _2\"></span>clu<span class=\"_ _2\"></span>de a min<span class=\"_ _2\"></span>imu<span class=\"_ _2\"></span>m level o<span class=\"_ _2\"></span>f cas<span class=\"_ _2\"></span>h and </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5cd\">can also include<span class=\"_ _0\"></span> highly liquid securities. Clearing members also c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ribute<span class=\"_ _0\"></span> to default funds<span class=\"_ _0\"></span> managed by the </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5ce\">Gr<span class=\"_ _2\"></span>oup CC<span class=\"_ _2\"></span>Ps. T<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e aim to p<span class=\"_ _2\"></span>rotec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he int<span class=\"_ _2\"></span>egr<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e mar<span class=\"_ _2\"></span>kets i<span class=\"_ _2\"></span>n the e<span class=\"_ _2\"></span>vent o<span class=\"_ _2\"></span>f mul<span class=\"_ _2\"></span>tip<span class=\"_ _2\"></span>le def<span class=\"_ _2\"></span>aul<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>n ex<span class=\"_ _2\"></span>trem<span class=\"_ _2\"></span>e </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5cf\">market<span class=\"_ _0\"></span> circumstances. Group CCPs use<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tress<span class=\"_ _0\"></span> test<span class=\"_ _2\"></span>s t<span class=\"_ _0\"></span>o determine the<span class=\"_ _0\"></span> appropriate margin<span class=\"_ _0\"></span> and default fund </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5d0\">req<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>. Thes<span class=\"_ _2\"></span>e are rev<span class=\"_ _2\"></span>iew<span class=\"_ _2\"></span>ed by CC<span class=\"_ _2\"></span>P risk c<span class=\"_ _2\"></span>ommi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>tees w<span class=\"_ _2\"></span>ho c<span class=\"_ _2\"></span>an take a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>s app<span class=\"_ _2\"></span>ropr<span class=\"_ _2\"></span>iate<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5d1\">CCPs are<span class=\"_ _0\"></span> required by<span class=\"_ _0\"></span> regulation to hold<span class=\"_ _0\"></span> a minimum amount<span class=\"_ _0\"></span> of capital (regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y capital). Each<span class=\"_ _0\"></span> of the </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5d2\">Group\u2019<span class=\"_ _0\"></span>s CCPs maintains this<span class=\"_ _0\"></span> regulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> capit<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> requirement, together with an additional holding<span class=\"_ _0\"></span> of its </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5d3\">ow<span class=\"_ _2\"></span>n cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l. Th<span class=\"_ _2\"></span>is add<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>iona<span class=\"_ _2\"></span>l cap<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>al is to h<span class=\"_ _2\"></span>elp ma<span class=\"_ _2\"></span>nage c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t ri<span class=\"_ _2\"></span>sk dur<span class=\"_ _2\"></span>ing a si<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t mar<span class=\"_ _2\"></span>ket st<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>s event<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs5d4\">or member<span class=\"_ _0\"></span> default.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls72 ws3 gs5d5\">Th<span class=\"_ _2\"></span>e tota<span class=\"_ _2\"></span>l clea<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g memb<span class=\"_ _2\"></span>er co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ibu<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns of ma<span class=\"_ _2\"></span>rgi<span class=\"_ _2\"></span>n and de<span class=\"_ _2\"></span>faul<span class=\"_ _2\"></span>t fu<span class=\"_ _2\"></span>nds ac<span class=\"_ _2\"></span>ross t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup CC<span class=\"_ _2\"></span>Ps i<span class=\"_ _2\"></span>s show<span class=\"_ _2\"></span>n bel<span class=\"_ _2\"></span>ow:<span class=\"_ _314\"> </span></div><div class=\"gs5d6\"><table class=\"s w878 h28e\" id=\"_3f23d898-14ce-47b1-98fd-9669e89832e5\"><tr><td></td><td></td><td class=\"c n xdd1 y2406 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2406 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2407 w879 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 lse5 ws75\">T<span class=\"_ _0\"></span>otal collat<span class=\"_ _0\"></span>eral held<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdeb y2407 w87a h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3bn<span class=\"_ _314\"> </span></div></td><td class=\"c n xdec y2407 w248 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls77 wsa0\">\u00a3bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f7 w87b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Collateral securit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></div></td><td class=\"c n xded y23f7 w87c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wse8\">Cash<span class=\"_ _0\"></span> receiv<span class=\"_ _0\"></span>ed<span class=\"_ _314\"> </span></div></td><td class=\"c n xdee y23f7 w87d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls88 wsb4\">91<span class=\"_ _314\"> </span></div></td><td class=\"c n xdef y23f7 w567 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">92<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xdf0 y22e2 w87e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Non-<span class=\"_ _2\"></span>cash pledged<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf1 y22e2 w87f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">186<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf2 y22e2 w880 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xdf0 y22e3 w881 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Guarantees pledged<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf3 y22e3 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf4 y22e3 w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w882 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ota<span class=\"_ _2\"></span>l coll<span class=\"_ _2\"></span>atera<span class=\"_ _2\"></span>l as at 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mber<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdf5 y22e4 w883 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6e ws98\">27<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf6 y22e4 w171 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">270<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w884 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Maximum collateral he<span class=\"_ _0\"></span>ld during the year<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdf7 y2069 web h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">303<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdf8 h193 y240a ff76 fs129 fc1 sc0 lsa1 wsda\">334<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5d7\">Gr<span class=\"_ _2\"></span>oup CC<span class=\"_ _2\"></span>Ps ma<span class=\"_ _2\"></span>nage t<span class=\"_ _2\"></span>he cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t ris<span class=\"_ _2\"></span>k asso<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>ted wi<span class=\"_ _2\"></span>th m<span class=\"_ _2\"></span>argi<span class=\"_ _2\"></span>n and de<span class=\"_ _2\"></span>faul<span class=\"_ _2\"></span>t fu<span class=\"_ _2\"></span>nd con<span class=\"_ _2\"></span>tri<span class=\"_ _2\"></span>bu<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns by in<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g the<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5d8\">cash element in<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments or structures deemed secure b<span class=\"_ _0\"></span>y the relevant<span class=\"_ _0\"></span> regulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> bodies. This includes </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 lsa7 ws7e gs5d9\">direct investment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> in highly rated, regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y qualifying sovereign bonds<span class=\"_ _0\"></span> and supranational debt; investments </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5da\">in tri-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y and<span class=\"_ _0\"></span> bilateral re<span class=\"_ _0\"></span>verse repos (r<span class=\"_ _0\"></span>eceiving high-<span class=\"_ _2\"></span>qualit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> government securities as collateral);<span class=\"_ _0\"></span> and, in </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5db\">cert<span class=\"_ _2\"></span>ain<span class=\"_ _0\"></span> jurisdic<span class=\"_ _2\"></span>tions, deposits with the central bank. The small<span class=\"_ _0\"></span> propor<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> cash that is i<span class=\"_ _0\"></span>nvested unsecured </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5dc\">is placed<span class=\"_ _0\"></span> for short durations with highly rated counterparties where limits are applied<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> respec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> to credit </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5dd\">qualit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, c<span class=\"_ _0\"></span>oncentrat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> and tenor<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"gs5de\"><table class=\"s w86d h28e\" id=\"_29b47f04-ea01-4815-8d20-981172e52eab\"><tr><td></td><td class=\"c n xdd1 y2406 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2406 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xde0 y2407 w86e h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3bn<span class=\"_ _314\"> </span></div></td><td class=\"c n xde1 y2407 w86f h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls77 wsa0\">\u00a3<span class=\"_ _2\"></span>bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f7 w870 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> investment por<span class=\"_ _2\"></span>tfolio<span class=\"_ _314\"> </span></div></td><td class=\"c n xde2 y23f7 w591 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">90<span class=\"_ _314\"> </span></div></td><td class=\"c n xde3 y23f7 w164 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">90<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e2 w871 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ma<span class=\"_ _2\"></span>xim<span class=\"_ _2\"></span>um po<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tfo<span class=\"_ _2\"></span>lio si<span class=\"_ _2\"></span>z<span class=\"_ _0\"></span>e d<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g the y<span class=\"_ _2\"></span>ear<span class=\"_ _314\"> </span></div></td><td class=\"c n xde4 y22e2 w1fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">107<span class=\"_ _314\"> </span></div></td><td class=\"c n xde5 y22e2 w872 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws126\">110<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 xde6 h187 y2408 ff75 fs129 fc1 sc0 ls6d wsd4\">Additional port<span class=\"_ _2\"></span>folio information<span class=\"_ _0\"></span>:<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22e4 w873 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Propor<span class=\"_ _2\"></span>tion invested<span class=\"_ _0\"></span> securely<span class=\"_ _314\"> </span></div></td><td class=\"c n xde7 y22e4 w874 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">99.9<span class=\"_ _2\"></span>5%<span class=\"_ _314\"> </span></div></td><td class=\"c n xde8 y22e4 w875 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">99.98<span class=\"_ _2\"></span>%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w876 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Weig<span class=\"_ _2\"></span>hted a<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>age ma<span class=\"_ _2\"></span>tur<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y (day<span class=\"_ _2\"></span>s)<span class=\"_ _314\"> </span></div></td><td class=\"c n xde9 y2069 w877 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">82<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdea h193 y2409 ff76 fs129 fc1 sc0 lsab wsd4\">72<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 h13 ff75 fs6 fc1 sc0 lse5 ws75 gs5e0\">Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5e1\">Associated liquidit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> risks are consider<span class=\"_ _0\"></span>ed in the investment mix and<span class=\"_ _0\"></span> discussed fur<span class=\"_ _2\"></span>ther below<span class=\"_ _0\"></span> in the Liquidit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs5e2\">Sett<span class=\"_ _2\"></span>lement<span class=\"_ _0\"></span> and Custodial risk<span class=\"_ _0\"></span> sec<span class=\"_ _2\"></span>tion.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5e3\">T<span class=\"_ _3\"></span>o address concentration risk, the Group ma<span class=\"_ _0\"></span>intains a diversif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> por<span class=\"_ _2\"></span>tfolio of high-quali<span class=\"_ _2\"></span>ty<span class=\"_ _0\"></span>, liquid investments </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 lsa7 ws7e gs5e4\">and uses a<span class=\"_ _0\"></span> broad range of<span class=\"_ _0\"></span> custodians, payment and settlement banks and agents. The largest c<span class=\"_ _0\"></span>oncentrat<span class=\"_ _2\"></span>ion </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5e5\">of t<span class=\"_ _2\"></span>reasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y exp<span class=\"_ _2\"></span>osure<span class=\"_ _2\"></span>s as at 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er 2025 was w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the F<span class=\"_ _2\"></span>rench G<span class=\"_ _2\"></span>ove<span class=\"_ _2\"></span>rnme<span class=\"_ _2\"></span>nt w<span class=\"_ _2\"></span>ith a<span class=\"_ _2\"></span>n agg<span class=\"_ _2\"></span>rega<span class=\"_ _2\"></span>te </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5e6\">exp<span class=\"_ _2\"></span>osu<span class=\"_ _2\"></span>re of 41% of t<span class=\"_ _2\"></span>he to<span class=\"_ _2\"></span>tal in<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent po<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tfo<span class=\"_ _2\"></span>lio (<span class=\"_ _2\"></span>202<span class=\"_ _0\"></span>4: 4<span class=\"_ _2\"></span>0% wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he Fre<span class=\"_ _2\"></span>nch G<span class=\"_ _2\"></span>over<span class=\"_ _2\"></span>nme<span class=\"_ _2\"></span>nt)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff75 fs129 fc1 sc0 ls6d wsd4 gs5e7\">T<span class=\"_ _0\"></span>rade rec<span class=\"_ _0\"></span>eivables (including fees receivable)<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5e8\">An i<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt an<span class=\"_ _2\"></span>aly<span class=\"_ _2\"></span>sis of t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>de an<span class=\"_ _2\"></span>d fees re<span class=\"_ _2\"></span>ceiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e is pe<span class=\"_ _2\"></span>rf<span class=\"_ _2\"></span>orm<span class=\"_ _2\"></span>ed mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>ly us<span class=\"_ _2\"></span>ing a pr<span class=\"_ _2\"></span>ovi<span class=\"_ _2\"></span>sion m<span class=\"_ _2\"></span>atr<span class=\"_ _2\"></span>ix to </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs5e9\">measure<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> credit losses bas<span class=\"_ _0\"></span>ed on factors such as<span class=\"_ _0\"></span> the counterpart<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _0\"></span> historic payment practices, </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5ea\">expected future payments and the economic<span class=\"_ _0\"></span> environment at large.<span class=\"_ _0\"></span> The calculation re<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>lect<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> current </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs5eb\">conditions together<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> forecast<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of future ec<span class=\"_ _0\"></span>onomic conditions. None of<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s trade rec<span class=\"_ _0\"></span>eivables </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5ec\">are mat<span class=\"_ _0\"></span>erial by individual count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ty.<span class=\"_ _314\"> </span></div><div class=\"gs5ed\"><table class=\"s w889 h28f\" id=\"_759196ad-4a26-464b-8bb7-16630a753719\"><tr><td></td><td></td><td></td><td class=\"t m0 xe05 h13 y240c ff75 fs6 fc1 sc0 ls12 ws44\">T<span class=\"_ _0\"></span>rade rec<span class=\"_ _0\"></span>eivables<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xe06 h13 y240d ff75 fs6 fc1 sc0 ls4 ws3\">Fees </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c n xe07 y240e w88a h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls7a wsbe\">receivable<span class=\"_ _314\"> </span></div></td><td class=\"c n xe08 y240e w88b h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">&lt;<span class=\"_ _2\"></span>18<span class=\"_ _2\"></span>0 days<span class=\"_ _314\"> </span></div></td><td class=\"c n xe09 y240e w88c h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">&gt;180 d<span class=\"_ _2\"></span>ays<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0a y240e w52c h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _1\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y240f w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0b y240f w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0c y240f w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0d y240f w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0e y240f w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w88d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed credit<span class=\"_ _0\"></span> loss rate<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0f y213d w88e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6d ws97\">&lt;1%<span class=\"_ _314\"> </span></div></td><td class=\"c n xe10 y213d w88e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6d ws97\">&lt;1%<span class=\"_ _314\"> </span></div></td><td class=\"c n xe11 y213d w88f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">23.9%<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c n x1eb y20d9 w890 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> receivables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe12 y20d9 w571 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">388<span class=\"_ _314\"> </span></div></td><td class=\"c n xe13 y20d9 w328 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">869<span class=\"_ _314\"> </span></div></td><td class=\"c n xe14 y20d9 w891 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">88<span class=\"_ _314\"> </span></div></td><td class=\"c n xe15 y20d9 w892 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">1,<span class=\"_ _2\"></span>345<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w893 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed credit<span class=\"_ _0\"></span> loss<span class=\"_ _314\"> </span></div></td><td class=\"c n xe16 y20da w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe17 y20da w560 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe18 y20da w136 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe19 y20da w4a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(23)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w894 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t trad<span class=\"_ _2\"></span>e and fe<span class=\"_ _2\"></span>es re<span class=\"_ _2\"></span>ceiv<span class=\"_ _2\"></span>able<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xe1a y2069 w571 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa9 ws7e\">388<span class=\"_ _314\"> </span></div></td><td class=\"c n xe1b y2069 w224 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaa wsd6\">866<span class=\"_ _314\"> </span></div></td><td class=\"c n xe1c y2069 w777 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xe1d y2069 w625 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,322<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"gs5ee\"><table class=\"s w895 h290\" id=\"_aa0e5234-4eb5-4d2d-bba9-3326c6fa00cb\"><tr><td></td><td></td><td></td><td class=\"t m0 xe1e hb y2410 ff76 fs6 fc1 sc0 ls27 ws43\">T<span class=\"_ _0\"></span>rade rece<span class=\"_ _0\"></span>ivab<span class=\"_ _2\"></span>les<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xe06 hb y2411 ff76 fs6 fc1 sc0 ls4 ws3\">Fee<span class=\"_ _2\"></span>s </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c n xe1f y2412 w896 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls77 wsa0\">receivable<span class=\"_ _314\"> </span></div></td><td class=\"c n xe20 y2412 w897 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">&lt;<span class=\"_ _2\"></span>180 d<span class=\"_ _2\"></span>ays<span class=\"_ _314\"> </span></div></td><td class=\"c n xe21 y2412 w898 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls119 ws122\">&gt;18<span class=\"_ _2\"></span>0 day<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xe22 y2412 w899 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2413 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe23 y2413 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe24 y2413 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x316 y2413 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe25 y2413 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w88d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed credit<span class=\"_ _0\"></span> loss rate<span class=\"_ _314\"> </span></div></td><td class=\"c n xe26 y214c w89a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">&lt;<span class=\"_ _2\"></span>1%<span class=\"_ _314\"> </span></div></td><td class=\"c n xe27 y214c w89a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">&lt;<span class=\"_ _2\"></span>1%<span class=\"_ _314\"> </span></div></td><td class=\"c n xe28 y214c w89b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wsda\">18.0%<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c n x1eb y213e w890 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> receivables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe12 y213e w89c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">300<span class=\"_ _314\"> </span></div></td><td class=\"c n xe29 y213e w41b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">865<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2a y213e w551 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2b y213e w89d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1,<span class=\"_ _2\"></span>251<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w893 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed credit<span class=\"_ _0\"></span> loss<span class=\"_ _314\"> </span></div></td><td class=\"c n xe16 y214f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2c y214f w53c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2d y214f w845 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(18)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2e y214f w89e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(<span class=\"_ _2\"></span>20)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w89f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t tra<span class=\"_ _2\"></span>de an<span class=\"_ _2\"></span>d fees re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>vab<span class=\"_ _2\"></span>les<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2f y2069 w89c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">300<span class=\"_ _314\"> </span></div></td><td class=\"c n xe30 y2069 w8a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">863<span class=\"_ _314\"> </span></div></td><td class=\"c n xe31 y2069 w101 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xe32 y2069 w626 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">1,<span class=\"_ _2\"></span>231<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs5ef\">Countr<span class=\"_ _2\"></span>y risk<span class=\"_ _314\"> </span></div><div class=\"t m0 h13 ff75 fs6 fc1 sc0 lse5 ws75 gs5f0\">Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5f1\">Co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y risk r<span class=\"_ _2\"></span>elate<span class=\"_ _2\"></span>s to th<span class=\"_ _2\"></span>ose r<span class=\"_ _2\"></span>isks t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>re </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5f2\">inherent when<span class=\"_ _0\"></span> doing business with, or </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5f3\">op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g in, a co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5f4\">So<span class=\"_ _2\"></span>me gov<span class=\"_ _2\"></span>ernm<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s ma<span class=\"_ _2\"></span>y be una<span class=\"_ _2\"></span>ble o<span class=\"_ _2\"></span>r fi<span class=\"_ _2\"></span>nd it<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5f5\">di<span class=\"_ _2\"></span>ff<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>cul<span class=\"_ _2\"></span>t to ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice th<span class=\"_ _2\"></span>eir d<span class=\"_ _2\"></span>ebt<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>is cou<span class=\"_ _2\"></span>ld ha<span class=\"_ _2\"></span>ve </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5f6\">adverse effec<span class=\"_ _2\"></span>ts, par<span class=\"_ _2\"></span>ticularly on<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5f7\">CCPs, potentially impacting cleared products, </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5f8\">margin c<span class=\"_ _0\"></span>ollateral, investment<span class=\"_ _2\"></span>s, the<span class=\"_ _0\"></span> clearing </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs5f9\">membership and the financial industr<span class=\"_ _2\"></span>y as<span class=\"_ _0\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5fa\">a wh<span class=\"_ _2\"></span>ole.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs5fb\">In addition, geopolitical events could<span class=\"_ _0\"></span> impact </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5fc\">ou<span class=\"_ _2\"></span>r abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y to op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>te in a cou<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>y o<span class=\"_ _2\"></span>r imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5fd\">th<span class=\"_ _2\"></span>e val<span class=\"_ _2\"></span>ue of ou<span class=\"_ _2\"></span>r ass<span class=\"_ _2\"></span>ets i<span class=\"_ _2\"></span>n tha<span class=\"_ _2\"></span>t coun<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>y. We may </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs5fe\">eve<span class=\"_ _2\"></span>n nee<span class=\"_ _2\"></span>d to relo<span class=\"_ _2\"></span>cate a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies o<span class=\"_ _2\"></span>r chan<span class=\"_ _2\"></span>ge </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls76 ws5 gs5ff\">our operating model in r<span class=\"_ _0\"></span>esponse.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs600\">Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has a co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y ris<span class=\"_ _2\"></span>k fra<span class=\"_ _2\"></span>mewo<span class=\"_ _2\"></span>rk wh<span class=\"_ _2\"></span>ich f<span class=\"_ _2\"></span>acil<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>tes as<span class=\"_ _2\"></span>ses<span class=\"_ _2\"></span>smen<span class=\"_ _2\"></span>t and m<span class=\"_ _2\"></span>oni<span class=\"_ _2\"></span>tori<span class=\"_ _2\"></span>ng of t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk as<span class=\"_ _2\"></span>soci<span class=\"_ _2\"></span>ated<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs601\">wi<span class=\"_ _2\"></span>th d<span class=\"_ _2\"></span>oing b<span class=\"_ _2\"></span>usi<span class=\"_ _2\"></span>ness w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h, or o<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng in<span class=\"_ _2\"></span>, a coun<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>y.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs602\">Gr<span class=\"_ _2\"></span>oup CC<span class=\"_ _2\"></span>Ps hav<span class=\"_ _2\"></span>e spe<span class=\"_ _2\"></span>cif<span class=\"_ _2\"></span>ic r<span class=\"_ _2\"></span>isk ma<span class=\"_ _2\"></span>nag<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>t fra<span class=\"_ _2\"></span>mewo<span class=\"_ _2\"></span>rk<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t addr<span class=\"_ _2\"></span>ess co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y ris<span class=\"_ _2\"></span>k for bot<span class=\"_ _2\"></span>h cl<span class=\"_ _2\"></span>eari<span class=\"_ _2\"></span>ng an<span class=\"_ _2\"></span>d </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs603\">mar<span class=\"_ _2\"></span>gin o<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons<span class=\"_ _2\"></span>. Cont<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>ed in t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e fra<span class=\"_ _2\"></span>mewo<span class=\"_ _2\"></span>rks a<span class=\"_ _2\"></span>re a sui<span class=\"_ _2\"></span>te of s<span class=\"_ _2\"></span>tres<span class=\"_ _2\"></span>s sce<span class=\"_ _2\"></span>nari<span class=\"_ _2\"></span>os th<span class=\"_ _2\"></span>at con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>r dete<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs604\">of so<span class=\"_ _2\"></span>verei<span class=\"_ _2\"></span>gn cre<span class=\"_ _2\"></span>dit q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y as we<span class=\"_ _2\"></span>ll as ot<span class=\"_ _2\"></span>her r<span class=\"_ _2\"></span>isk f<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>ese sce<span class=\"_ _2\"></span>nar<span class=\"_ _2\"></span>ios su<span class=\"_ _2\"></span>ppo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>t CCP<span class=\"_ _2\"></span>s in deve<span class=\"_ _2\"></span>lop<span class=\"_ _2\"></span>ing an<span class=\"_ _2\"></span>d </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs605\">maintaining the<span class=\"_ _0\"></span> appropriate co<span class=\"_ _0\"></span>untr<span class=\"_ _2\"></span>y risk meas<span class=\"_ _0\"></span>urement, monitoring and<span class=\"_ _0\"></span> mit<span class=\"_ _2\"></span>igation<span class=\"_ _0\"></span> tools. Risk Committees </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs606\">ove<span class=\"_ _2\"></span>rse<span class=\"_ _2\"></span>e the<span class=\"_ _2\"></span>se ri<span class=\"_ _2\"></span>sks a<span class=\"_ _2\"></span>nd th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>ocia<span class=\"_ _2\"></span>ted po<span class=\"_ _2\"></span>lic<span class=\"_ _2\"></span>y fr<span class=\"_ _2\"></span>ame<span class=\"_ _2\"></span>work<span class=\"_ _2\"></span>s to pro<span class=\"_ _2\"></span>tec<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p aga<span class=\"_ _2\"></span>ins<span class=\"_ _2\"></span>t a pote<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>all<span class=\"_ _2\"></span>y </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs607\">ad<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>se im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t ari<span class=\"_ _2\"></span>sin<span class=\"_ _2\"></span>g from v<span class=\"_ _2\"></span>olat<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y in th<span class=\"_ _2\"></span>e sove<span class=\"_ _2\"></span>reign d<span class=\"_ _2\"></span>ebt m<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs608\">The Group C<span class=\"_ _0\"></span>CPs\u2019 sover<span class=\"_ _0\"></span>eign exposures at<span class=\"_ _0\"></span> the end of<span class=\"_ _0\"></span> the f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting periods<span class=\"_ _0\"></span> were:<span class=\"_ _314\"> </span></div><div class=\"gs609\"><table class=\"s w885 h28e\" id=\"_97733158-7a81-43d8-9522-dc68f9a09910\"><tr><td></td><td class=\"c n xdd1 y2406 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2406 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2407 w886 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls27 ws45\">Country/organisa<span class=\"_ _0\"></span>tion<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf9 y2407 w86e h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3bn<span class=\"_ _314\"> </span></div></td><td class=\"c n xdfa y2407 w86f h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls77 wsa0\">\u00a3<span class=\"_ _2\"></span>bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f7 w887 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">France<span class=\"_ _314\"> </span></div></td><td class=\"c n xdfb y23f7 w38f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n xdfc y23f7 w14a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">20<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f8 w28e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n xdfd y23f8 wf4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls70 ws76\">15<span class=\"_ _314\"> </span></div></td><td class=\"c n xdfe y23f8 wf9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e3 w8f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n xdff y22e3 w102 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n xe00 y22e3 w3bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f9 w888 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">European Union<span class=\"_ _0\"></span> (supranational)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe01 y23f9 w55 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xe02 y23f9 w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w303 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n xe03 y2069 w43a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xe04 h193 y240b ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls51 ws73 gs60b\">Liquidity,<span class=\"_ _0\"></span> settlement and custodial risk<span class=\"_ _314\"> </span></div><div class=\"t m0 h13 ff75 fs6 fc1 sc0 lse5 ws75 gs60c\">Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs60d\">The Group\u2019<span class=\"_ _0\"></span>s liquidity risk relat<span class=\"_ _0\"></span>es to its ability </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs60e\">to meet<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> shor<span class=\"_ _2\"></span>t-<span class=\"_ _0\"></span> and long-term payment </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs60f\">obligations as<span class=\"_ _0\"></span> they fall due.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs610\">Additionally,<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s CCPs, and certain </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs611\">ot<span class=\"_ _2\"></span>her G<span class=\"_ _2\"></span>roup e<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es, m<span class=\"_ _2\"></span>ust m<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>tain a l<span class=\"_ _2\"></span>evel<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs612\">of liquidity (consistent with regula<span class=\"_ _0\"></span>tor<span class=\"_ _2\"></span>y </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs613\">requirements) t<span class=\"_ _0\"></span>o ensure the<span class=\"_ _0\"></span> smooth operation </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs614\">of t<span class=\"_ _2\"></span>heir re<span class=\"_ _2\"></span>spe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ces an<span class=\"_ _2\"></span>d to be ab<span class=\"_ _2\"></span>le to </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs615\">con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>ue to op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>te in t<span class=\"_ _2\"></span>he even<span class=\"_ _2\"></span>t of a sig<span class=\"_ _2\"></span>nif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs616\">stress event.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs617\">The Group\u2019<span class=\"_ _0\"></span>s settlement and custodial risks </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs618\">rel<span class=\"_ _2\"></span>ate to th<span class=\"_ _2\"></span>e pote<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>ial for a p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>tn<span class=\"_ _2\"></span>er f<span class=\"_ _2\"></span>irm to<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs619\">def<span class=\"_ _2\"></span>aul<span class=\"_ _2\"></span>t on it<span class=\"_ _2\"></span>s ob<span class=\"_ _2\"></span>lig<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons in r<span class=\"_ _2\"></span>espe<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>f cus<span class=\"_ _2\"></span>tod<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs61a\">settlement<span class=\"_ _2\"></span>, pa<span class=\"_ _0\"></span>yment or other administration </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs61b\">ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es, or t<span class=\"_ _2\"></span>hat n<span class=\"_ _2\"></span>o ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is ta<span class=\"_ _2\"></span>ken by t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs61c\">Group to<span class=\"_ _0\"></span> mitigate these risks. This also </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs61d\">inc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>es th<span class=\"_ _2\"></span>e ris<span class=\"_ _2\"></span>k tha<span class=\"_ _2\"></span>t clie<span class=\"_ _2\"></span>nt as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs61e\">im<span class=\"_ _2\"></span>mobi<span class=\"_ _2\"></span>lis<span class=\"_ _2\"></span>ed as a re<span class=\"_ _2\"></span>sult o<span class=\"_ _2\"></span>f a thi<span class=\"_ _2\"></span>rd<span class=\"_ _2\"></span>-pa<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>ty<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws96 gs61f\">bankruptcy.<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff75 fs129 fc1 sc0 ls6d ws97 gs620\">Group<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs621\">The Group ma<span class=\"_ _0\"></span>intains suf<span class=\"_ _2\"></span>ficient liquid resour<span class=\"_ _0\"></span>ces to<span class=\"_ _0\"></span> meet its f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> obligations as they fall<span class=\"_ _0\"></span> due, and t<span class=\"_ _0\"></span>o </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs622\">invest in<span class=\"_ _0\"></span> capital expenditure, pay<span class=\"_ _0\"></span> dividends, meet its pension commitments and appr<span class=\"_ _0\"></span>opriately support or </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs623\">fund acquisitions or<span class=\"_ _0\"></span> repay borr<span class=\"_ _0\"></span>owings. Subject to regul<span class=\"_ _0\"></span>ator<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>onst<span class=\"_ _2\"></span>raints impacting certain entities<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> funds </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs624\">can (generally) be lent acr<span class=\"_ _0\"></span>oss the Group and<span class=\"_ _0\"></span> cash earnings remitted through regular<span class=\"_ _0\"></span> div<span class=\"_ _2\"></span>idend<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs625\">by subs<span class=\"_ _0\"></span>idiar<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>ompanies. This is<span class=\"_ _0\"></span> an import<span class=\"_ _2\"></span>ant<span class=\"_ _0\"></span> component of<span class=\"_ _0\"></span> the Group T<span class=\"_ _3\"></span>reasur<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> cash management policy </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs626\">and approach.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs627\">Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p is pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>ble, h<span class=\"_ _2\"></span>as st<span class=\"_ _2\"></span>ron<span class=\"_ _2\"></span>g free c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>w and g<span class=\"_ _2\"></span>ener<span class=\"_ _2\"></span>ates a<span class=\"_ _2\"></span>nnui<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y-<span class=\"_ _2\"></span>like re<span class=\"_ _2\"></span>venu<span class=\"_ _2\"></span>e whic<span class=\"_ _2\"></span>h is no<span class=\"_ _2\"></span>t </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs628\">significant<span class=\"_ _2\"></span>ly i<span class=\"_ _0\"></span>mpac<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> by seasonal<span class=\"_ _0\"></span> variations. Management monitors f<span class=\"_ _0\"></span>orecast<span class=\"_ _2\"></span>s o<span class=\"_ _0\"></span>f the Group\u2019<span class=\"_ _0\"></span>s cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>low<span class=\"_ _0\"></span> and </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs629\">overlays se<span class=\"_ _0\"></span>nsit<span class=\"_ _2\"></span>ivities to<span class=\"_ _0\"></span> these forecasts to r<span class=\"_ _0\"></span>ef<span class=\"_ _2\"></span>lect assumptions about<span class=\"_ _0\"></span> more challenging<span class=\"_ _0\"></span> market<span class=\"_ _0\"></span> conditions or </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs62a\">stress events. The Group will<span class=\"_ _0\"></span> take the appropriate<span class=\"_ _0\"></span> act<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> to satisf<span class=\"_ _2\"></span>y working capital requir<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> when </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs62b\">committ<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> to large<span class=\"_ _0\"></span> scale acquisitions, including<span class=\"_ _0\"></span> making sure<span class=\"_ _0\"></span> there is<span class=\"_ _0\"></span> comfor<span class=\"_ _2\"></span>table<span class=\"_ _0\"></span> liquidit<span class=\"_ _2\"></span>y headr<span class=\"_ _0\"></span>oom </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs62c\">pro<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>ted o<span class=\"_ _2\"></span>ver a rea<span class=\"_ _2\"></span>son<span class=\"_ _2\"></span>able t<span class=\"_ _2\"></span>ime f<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>me.<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff75 fs129 fc1 sc0 ls76 ws5 gs62d\">Non-<span class=\"_ _2\"></span>CCP entities<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs62e\">Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p T<span class=\"_ _0\"></span>reas<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>y Pol<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>y requ<span class=\"_ _2\"></span>ires t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup to ma<span class=\"_ _2\"></span>int<span class=\"_ _2\"></span>ain a<span class=\"_ _2\"></span>dequ<span class=\"_ _2\"></span>ate cre<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>t faci<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies p<span class=\"_ _2\"></span>rov<span class=\"_ _2\"></span>ided b<span class=\"_ _2\"></span>y a div<span class=\"_ _2\"></span>ers<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs62f\">le<span class=\"_ _2\"></span>ndin<span class=\"_ _2\"></span>g grou<span class=\"_ _2\"></span>p to cove<span class=\"_ _2\"></span>r it<span class=\"_ _2\"></span>s exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted fu<span class=\"_ _2\"></span>ndi<span class=\"_ _2\"></span>ng req<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s an<span class=\"_ _2\"></span>d ens<span class=\"_ _2\"></span>ure a min<span class=\"_ _2\"></span>imu<span class=\"_ _2\"></span>m level o<span class=\"_ _2\"></span>f head<span class=\"_ _2\"></span>roo<span class=\"_ _2\"></span>m for at </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs630\">least the next 2<span class=\"_ _0\"></span>4 months. The financial strength of the Group<span class=\"_ _0\"></span>\u2019s lenders is<span class=\"_ _0\"></span> monitored regularly<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs631\">Fo<span class=\"_ _2\"></span>r ful<span class=\"_ _2\"></span>l det<span class=\"_ _2\"></span>ails o<span class=\"_ _2\"></span>f the G<span class=\"_ _2\"></span>roup\u2019s b<span class=\"_ _2\"></span>orro<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>gs an<span class=\"_ _2\"></span>d faci<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies<span class=\"_ _2\"></span>, see n<span class=\"_ _2\"></span>ote<span class=\"_ gs5a0\"> </span>1<span class=\"_ _2\"></span>6.1.<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff75 fs129 fc1 sc0 ls4 ws3 gs632\">CCPs<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs633\">In o<span class=\"_ _2\"></span>rder t<span class=\"_ _2\"></span>o meet t<span class=\"_ _2\"></span>he ca<span class=\"_ _2\"></span>sh req<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts of t<span class=\"_ _2\"></span>he cl<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>nd set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>leme<span class=\"_ _2\"></span>nt c<span class=\"_ _2\"></span>ycle<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup\u2019s CC<span class=\"_ _2\"></span>Ps m<span class=\"_ _2\"></span>aint<span class=\"_ _2\"></span>ain </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs634\">suf<span class=\"_ _2\"></span>ficient cash and<span class=\"_ _0\"></span> cash equivalent<span class=\"_ _2\"></span>s a<span class=\"_ _0\"></span>nd, in certain jurisdic<span class=\"_ _2\"></span>tions, hav<span class=\"_ _0\"></span>e access t<span class=\"_ _0\"></span>o central bank r<span class=\"_ _0\"></span>ef<span class=\"_ _2\"></span>inancing<span class=\"_ _0\"></span> or </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs635\">commercial<span class=\"_ _0\"></span> bank credit lines. R<span class=\"_ _0\"></span>egulations require C<span class=\"_ _0\"></span>CPs to ensure<span class=\"_ _0\"></span> that appropriate le<span class=\"_ _0\"></span>vels of back<span class=\"_ _0\"></span>-up liquidit<span class=\"_ _2\"></span>y </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs636\">are in<span class=\"_ _0\"></span> place to<span class=\"_ _0\"></span> underpin the dynamics of a lar<span class=\"_ _0\"></span>gely secured cash investment requir<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> ensuring that the </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs637\">maximum potential<span class=\"_ _0\"></span> out<span class=\"_ _2\"></span>flow under e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>treme<span class=\"_ _0\"></span> market c<span class=\"_ _0\"></span>ondit<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> is cover<span class=\"_ _0\"></span>ed (see c<span class=\"_ _0\"></span>redit and conc<span class=\"_ _0\"></span>entrat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> risk </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs638\">se<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>bove)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs639\">In t<span class=\"_ _2\"></span>he eve<span class=\"_ _2\"></span>nt of a m<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r defa<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>, G<span class=\"_ _2\"></span>roup CC<span class=\"_ _2\"></span>Ps c<span class=\"_ _2\"></span>an liq<span class=\"_ _2\"></span>uid<span class=\"_ _2\"></span>ate th<span class=\"_ _2\"></span>e defa<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>ing m<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er\u2019s p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>foli<span class=\"_ _2\"></span>o to cover b<span class=\"_ _2\"></span>ot<span class=\"_ _2\"></span>h </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 lsa7 ws7e gs63a\">losses associated<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th the<span class=\"_ _0\"></span> default and settlement of any other<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> obligations of the defaulting member<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs63b\">In addition, cert<span class=\"_ _2\"></span>ain<span class=\"_ _0\"></span> Group companies, including<span class=\"_ _0\"></span> the CCPs, maintain commerci<span class=\"_ _0\"></span>al bank facilities which support </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs63c\">management of<span class=\"_ _0\"></span> intraday and overnight liquidity.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs63d\">Custodians are<span class=\"_ _0\"></span> subject to minimum<span class=\"_ _0\"></span> eligibility requirements, ongoing cr<span class=\"_ _0\"></span>edit assessments and robust </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs63e\">contrac<span class=\"_ _2\"></span>tual<span class=\"_ _0\"></span> arrangement<span class=\"_ _2\"></span>s. They<span class=\"_ _0\"></span> are also r<span class=\"_ _0\"></span>equired to<span class=\"_ _0\"></span> have appropriate<span class=\"_ _0\"></span> contingenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> arrangemen<span class=\"_ _2\"></span>ts in<span class=\"_ _0\"></span> place.<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff75 fs129 fc1 sc0 ls6d wsd4 gs63f\">Financial liability maturity<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs640\">The table below<span class=\"_ _0\"></span> analyses the Group\u2019<span class=\"_ _0\"></span>s financial liabilities into r<span class=\"_ _0\"></span>elevant maturit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> groupings based on<span class=\"_ _0\"></span> the </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs641\">remaining<span class=\"_ _0\"></span> period from the balance<span class=\"_ _0\"></span> sheet date<span class=\"_ _0\"></span> to the contractual maturit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> date. The<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s disclosed<span class=\"_ _0\"></span> in the </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs642\">table re<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>lect the contractual undiscounted<span class=\"_ _0\"></span> cash flows. </div><div class=\"gs643\"><table class=\"s w8a1 h291\" id=\"_bb148fbd-a705-4321-8155-57296068e962\"><tr><td></td><td class=\"t m0 xe33 h13 y2414 ff75 fs6 fc1 sc0 ls41 ws5e\">Less tha<span class=\"_ _0\"></span>n <span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe34 h13 y2414 ff75 fs6 fc1 sc0 ls27 ws43\">Between 1 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe35 h13 y2414 ff75 fs6 fc1 sc0 ls27 ws43\">Between 2 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe36 h13 y2414 ff75 fs6 fc1 sc0 ls94 wsc1\">Over<span class=\"_ _2\"></span> <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xe37 h13 y2415 ff75 fs6 fc1 sc0 ls26 ws3\">1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></td><td class=\"t m0 xe38 h13 y2415 ff75 fs6 fc1 sc0 ls26 ws3\">and 2 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 xe39 h13 y2415 ff75 fs6 fc1 sc0 ls26 ws3\">and 5 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xe3a y2416 w8a2 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3b y2416 w52c h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _1\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2417 w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3c y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3d y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3e y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3f y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe40 y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w8a3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Borrowings (<span class=\"_ _0\"></span>excluding<span class=\"_ _0\"></span> lease liabilities)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe41 y2066 w8a4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">3<span class=\"_ _2\"></span>,264<span class=\"_ _314\"> </span></div></td><td class=\"c n xe42 y2066 w359 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,622<span class=\"_ _314\"> </span></div></td><td class=\"c n xe43 y2066 w8a5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb0 wsdb\">3,7<span class=\"_ _2\"></span>10<span class=\"_ _314\"> </span></div></td><td class=\"c n xe44 y2066 wfd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsac wsd7\">3,816<span class=\"_ _314\"> </span></div></td><td class=\"c n xe45 y2066 w8a6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">12,412<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w666 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td class=\"c n xe46 y214c w45d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">1<span class=\"_ _2\"></span>47<span class=\"_ _314\"> </span></div></td><td class=\"c n xe47 y214c wb1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">121<span class=\"_ _314\"> </span></div></td><td class=\"c n xe48 y214c w157 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">196<span class=\"_ _314\"> </span></div></td><td class=\"c n xe49 y214c w571 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">260<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4a y214c w8a7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">7<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2075 w8a8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Current payables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4b y2075 w8a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">2,<span class=\"_ _2\"></span>230<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4c y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4d y2075 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4e y2075 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4f y2075 w8a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">2<span class=\"_ _2\"></span>,230<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w8aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing member liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xe50 y2068 w8ab h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsee ws55\">7<span class=\"_ _0\"></span>57<span class=\"_ _3\"></span>,444<span class=\"_ _314\"> </span></div></td><td class=\"c n xe51 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe52 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe53 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe54 y2068 w8ac h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsee ws55\">75<span class=\"_ _0\"></span>7<span class=\"_ _3\"></span>,444<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w2b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current payables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe55 y2069 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe56 y2069 w10a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">63<span class=\"_ _314\"> </span></div></td><td class=\"c n xe57 y2069 w8ad h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">319<span class=\"_ _314\"> </span></div></td><td class=\"c n xe58 y2069 w8ae h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">3<span class=\"_ _2\"></span>02<span class=\"_ _314\"> </span></div></td><td class=\"c n xe59 y2069 w8ae h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">684<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"gs644\"><table class=\"s w8af h292\" id=\"_b5a53577-b9f1-4170-9fb0-cfc2cc03c7ee\"><tr><td></td><td class=\"t m0 xe33 hb y2418 ff76 fs6 fc1 sc0 ls27 ws43\">Less than <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe5a hb y2418 ff76 fs6 fc1 sc0 lse0 ws10e\">Bet<span class=\"_ _2\"></span>ween 1 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe35 hb y2418 ff76 fs6 fc1 sc0 lse0 ws10e\">Bet<span class=\"_ _2\"></span>ween 2 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe36 hb y2418 ff76 fs6 fc1 sc0 ls4 ws3\">Ove<span class=\"_ _2\"></span>r <span class=\"_ _0\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 xe5b hb y2419 ff76 fs6 fc1 sc0 ls26 ws3\">1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5c hb y2419 ff76 fs6 fc1 sc0 ls26 ws3\">an<span class=\"_ _2\"></span>d 2 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5d hb y2419 ff76 fs6 fc1 sc0 ls26 ws3\">an<span class=\"_ _2\"></span>d 5 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xe3a y241a w8b0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xe5e y241a w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y241b w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe5f y241b w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe60 y241b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe61 y241b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe62 y241b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe63 y241b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w8a3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Borrowings (<span class=\"_ _0\"></span>excluding<span class=\"_ _0\"></span> lease liabilities)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe64 y214b w467 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsad wsdc\">1,66<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe65 y214b w8b1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">1,58<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe66 y214b w8b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">3<span class=\"_ _2\"></span>,42<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xe67 y214b w6eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _2\"></span>,932<span class=\"_ _314\"> </span></div></td><td class=\"c n xe68 y214b w8b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">10,6<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w666 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td class=\"c n xe46 y214c w523 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">158<span class=\"_ _314\"> </span></div></td><td class=\"c n xe69 y214c w52f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">113<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6a y214c w329 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">215<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6b y214c w3dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">213<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6c y214c w257 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">699<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w8a8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Current payables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6d y213e w8b4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>,845<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6e y213e w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6f y213e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe70 y213e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe71 y213e w8b4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">1,8<span class=\"_ _2\"></span>45<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w8aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing member liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xe72 y214f wf3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">692,6<span class=\"_ _2\"></span>40<span class=\"_ _314\"> </span></div></td><td class=\"c n xe73 y214f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe74 y214f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe75 y214f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe76 y214f w8b5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">692,6<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w2b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current payables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe55 y2069 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe77 y2069 w8b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">28<span class=\"_ _314\"> </span></div></td><td class=\"c n xe78 y2069 w8b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">335<span class=\"_ _314\"> </span></div></td><td class=\"c n xe79 y2069 w618 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">195<span class=\"_ _314\"> </span></div></td><td class=\"c n xe7a y2069 w8b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">558<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h13 ff75 fs6 fc1 sc0 lse5 ws75 gs646\">Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs647\">The table below analyses the cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>lows of<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vative financial instrument<span class=\"_ _2\"></span>s. For inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs648\">rate swaps and<span class=\"_ _0\"></span> cross-<span class=\"_ _2\"></span>currency interest rate<span class=\"_ _0\"></span> swaps<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> for which net<span class=\"_ _0\"></span> cash f<span class=\"_ _2\"></span>lows ar<span class=\"_ _0\"></span>e exchanged, these </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs649\">amounts are included net<span class=\"_ _0\"></span> in the numbers below.<span class=\"_ _0\"></span> When the amount<span class=\"_ _2\"></span>s pa<span class=\"_ _0\"></span>yable or receivable are<span class=\"_ _0\"></span> based </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs64a\">on f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>atin<span class=\"_ _2\"></span>g inte<span class=\"_ _2\"></span>rest r<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>, fu<span class=\"_ _2\"></span>ture c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s have be<span class=\"_ _2\"></span>en ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated u<span class=\"_ _2\"></span>sing E<span class=\"_ _2\"></span>STR<span class=\"_ _2\"></span>, SON<span class=\"_ _2\"></span>IA o<span class=\"_ _2\"></span>r SOF<span class=\"_ _2\"></span>R, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs64b\">depending on the underlying currency of the instrument<span class=\"_ _2\"></span>, at<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _0\"></span> date.<span class=\"_ _314\"> </span></div><div class=\"gs64c\"><table class=\"s w8c4 h294\" id=\"_a11f81d7-6e1d-4c7d-8fee-95a55c0001ae\"><tr><td></td><td class=\"t m0 xe33 h13 y2420 ff75 fs6 fc1 sc0 ls41 ws5e\">Less tha<span class=\"_ _0\"></span>n <span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe5a h13 y2420 ff75 fs6 fc1 sc0 ls27 ws43\">Between 1 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe35 h13 y2420 ff75 fs6 fc1 sc0 ls27 ws43\">Between 2 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe7e h13 y2420 ff75 fs6 fc1 sc0 ls94 wsc1\">Over<span class=\"_ _2\"></span> <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xe5b h13 y2421 ff75 fs6 fc1 sc0 ls26 ws3\">1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5c h13 y2421 ff75 fs6 fc1 sc0 ls26 ws3\">and 2 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5d h13 y2421 ff75 fs6 fc1 sc0 ls26 ws3\">and 5 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xe3a y2351 w8a2 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3b y2351 w52c h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _1\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2422 w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xe91 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe92 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe93 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe94 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe95 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w8ba h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Gross inflow<span class=\"_ _314\"> </span></div></td><td class=\"c n xe96 y2068 w321 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">3,60<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xe97 y2068 w8c5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">67<span class=\"_ _314\"> </span></div></td><td class=\"c n xe98 y2068 w8c6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">9<span class=\"_ _2\"></span>61<span class=\"_ _314\"> </span></div></td><td class=\"c n xe99 y2068 w87d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls88 wsb4\">91<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9a y2068 w8c7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4,7<span class=\"_ _2\"></span>26<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w8be h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Gross outf<span class=\"_ _2\"></span>low<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9b y2069 w8c8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(3,543)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9c y2069 w8c9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(<span class=\"_ _2\"></span>66)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9d y2069 w8ca h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">(894)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9e y2069 w2d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">(69)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9f y2069 w8cb h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>,57<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"gs64d\"><table class=\"s w8b9 h293\" id=\"_9b770b09-760e-48d3-b8fb-59d1f5720b5d\"><tr><td></td><td class=\"t m0 xe7b hb y241c ff76 fs6 fc1 sc0 ls27 ws43\">Less than <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe7c hb y241c ff76 fs6 fc1 sc0 lse0 ws10e\">Bet<span class=\"_ _2\"></span>ween 1 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe7d hb y241c ff76 fs6 fc1 sc0 lse0 ws10e\">Bet<span class=\"_ _2\"></span>ween 2 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe7e hb y241c ff76 fs6 fc1 sc0 ls4 ws3\">Ove<span class=\"_ _2\"></span>r <span class=\"_ _0\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 xe5b hb y241d ff76 fs6 fc1 sc0 ls26 ws3\">1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5c hb y241d ff76 fs6 fc1 sc0 ls26 ws3\">an<span class=\"_ _2\"></span>d 2 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 xe7f hb y241d ff76 fs6 fc1 sc0 ls26 ws3\">an<span class=\"_ _2\"></span>d 5 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xe80 y241e w8b0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xe81 y241e w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y241f w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe82 y241f w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe83 y241f w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe84 y241f w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe85 y241f w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe86 y241f w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w8ba h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Gross inflow<span class=\"_ _314\"> </span></div></td><td class=\"c n xe87 y214f w8bb h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">3<span class=\"_ _2\"></span>,25<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xe88 y214f w8bc h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls73 ws9c\">6<span class=\"_ _2\"></span>42<span class=\"_ _314\"> </span></div></td><td class=\"c n xe89 y214f w530 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8a y214f w257 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6f ws99\">669<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8b y214f w8bd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsba wsea\">4,838<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w8be h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Gross outf<span class=\"_ _2\"></span>low<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8c y2069 w8bf h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">(<span class=\"_ _2\"></span>3<span class=\"_ _2\"></span>,25<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8d y2069 w8c0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws9f\">(671)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8e y2069 w8c1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls67 ws61\">(355)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8f y2069 w8c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">(689)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe90 y2069 w8c3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>,96<span class=\"_ _2\"></span>8)<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs64f\">Market risk<span class=\"_ _0\"></span> \u2013 foreign ex<span class=\"_ _0\"></span>change risk<span class=\"_ _314\"> </span></div><div class=\"t m0 h13 ff75 fs6 fc1 sc0 lse5 ws75 gs650\">Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs651\">The Group operates<span class=\"_ _0\"></span> globally with primar<span class=\"_ _2\"></span>y </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs652\">cen<span class=\"_ _2\"></span>tre<span class=\"_ _2\"></span>s in th<span class=\"_ _2\"></span>e UK<span class=\"_ _2\"></span>, Euro<span class=\"_ _2\"></span>pe and N<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>h Ame<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>a. </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs653\">It also has<span class=\"_ _0\"></span> growing and<span class=\"_ _0\"></span> st<span class=\"_ _2\"></span>rat<span class=\"_ _0\"></span>egically impor<span class=\"_ _2\"></span>tant </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs654\">businesses in Asia. The<span class=\"_ _0\"></span> Group\u2019<span class=\"_ _0\"></span>s principal </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6e ws7e gs655\">currencies of<span class=\"_ _0\"></span> operation are sterling, US<span class=\"_ _0\"></span> dollars<span class=\"_ _2\"></span>, </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs656\">and the eur<span class=\"_ _0\"></span>o.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs657\">The Group is<span class=\"_ _0\"></span> exposed to<span class=\"_ _0\"></span> tr<span class=\"_ _2\"></span>ansactional </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs658\">foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> risk and translational<span class=\"_ _0\"></span> risk. </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs659\">T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>al ris<span class=\"_ _2\"></span>k ari<span class=\"_ _2\"></span>ses w<span class=\"_ _2\"></span>hen we b<span class=\"_ _2\"></span>uy or s<span class=\"_ _2\"></span>ell </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs65a\">goods or services in a<span class=\"_ _0\"></span> currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> other than </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs65b\">an entit<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tional curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. W<span class=\"_ _0\"></span>e may be </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs65c\">exposed to<span class=\"_ _0\"></span> movements in that currency<span class=\"_ _0\"></span>. </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs65d\">T<span class=\"_ _0\"></span>ranslational<span class=\"_ _0\"></span> risk arises from<span class=\"_ _0\"></span> the translation </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs65e\">of balanc<span class=\"_ _0\"></span>es recorded in<span class=\"_ _0\"></span> an entit<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tional </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs65f\">currency into the<span class=\"_ _0\"></span> Group\u2019s<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting currency </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs660\">for t<span class=\"_ _2\"></span>he pu<span class=\"_ _2\"></span>rpo<span class=\"_ _2\"></span>se of s<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>utor<span class=\"_ _2\"></span>y r<span class=\"_ _2\"></span>epor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs661\">T<span class=\"_ _0\"></span>ransactional fore<span class=\"_ _0\"></span>ign exch<span class=\"_ _0\"></span>ange risk may<span class=\"_ _0\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs662\">pre<span class=\"_ _2\"></span>sen<span class=\"_ _2\"></span>t it<span class=\"_ _2\"></span>sel<span class=\"_ _2\"></span>f in th<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment o<span class=\"_ _2\"></span>f int<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>roup </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs663\">transac<span class=\"_ _2\"></span>tions or<span class=\"_ _0\"></span> when interest obligations, </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs664\">which are<span class=\"_ _0\"></span> in a different currency<span class=\"_ _0\"></span>, are<span class=\"_ _0\"></span> due.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs665\">T<span class=\"_ _0\"></span>ransactional fore<span class=\"_ _0\"></span>ign exch<span class=\"_ _0\"></span>ange risk may<span class=\"_ _0\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs666\">al<span class=\"_ _2\"></span>so ari<span class=\"_ _2\"></span>se wh<span class=\"_ _2\"></span>en in<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g in, or d<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ing f<span class=\"_ _2\"></span>rom,<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs667\">operations denominated in<span class=\"_ _0\"></span> currencies other </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls76 ws5 gs668\">than sterling.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs669\">In addition, the Group<span class=\"_ _0\"></span> has some c<span class=\"_ _0\"></span>ontrac<span class=\"_ _2\"></span>ts/<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs66a\">ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low pr<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>iles w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h a forei<span class=\"_ _2\"></span>gn exch<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>e </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs66b\">component that c<span class=\"_ _0\"></span>ould trigger embedded </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs66c\">derivative recognition and, as<span class=\"_ _0\"></span> such, fair </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs66d\">value accounting<span class=\"_ _0\"></span> treatment<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff75 fs129 fc1 sc0 ls6d wsd4 gs66e\">T<span class=\"_ _0\"></span>ranslational risk<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6e ws7e gs66f\">The Group man<span class=\"_ _0\"></span>ages it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> translat<span class=\"_ _2\"></span>ional<span class=\"_ _0\"></span> risk, where possible, by<span class=\"_ _0\"></span> matching the curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> of its debt to<span class=\"_ _0\"></span> the currency </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs670\">of i<span class=\"_ _2\"></span>ts ea<span class=\"_ _2\"></span>rni<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>, to make s<span class=\"_ _2\"></span>ure cer<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ain key f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>anci<span class=\"_ _2\"></span>al met<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>s are p<span class=\"_ _2\"></span>rote<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d fro<span class=\"_ _2\"></span>m mater<span class=\"_ _2\"></span>ial fo<span class=\"_ _2\"></span>reig<span class=\"_ _2\"></span>n exchan<span class=\"_ _2\"></span>ge ra<span class=\"_ _2\"></span>te </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs671\">volatilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. The<span class=\"_ _0\"></span> Group also seeks to<span class=\"_ _0\"></span> balance the curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y o<span class=\"_ _0\"></span>f its asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th its liabilities. In order<span class=\"_ _0\"></span> to mitigate </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs672\">the impact of unfavourable<span class=\"_ _0\"></span> currency exchange rat<span class=\"_ _0\"></span>e movements on earnings and<span class=\"_ _0\"></span> net assets, non-<span class=\"_ _2\"></span>sterling </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs673\">cash earnings ar<span class=\"_ _0\"></span>e centralised and applied t<span class=\"_ _0\"></span>o debt and<span class=\"_ _0\"></span> interest payments in the same curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Where </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs674\">required, curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> of debt is<span class=\"_ _0\"></span> re-<span class=\"_ _2\"></span>balanced usi<span class=\"_ _0\"></span>ng cross-<span class=\"_ _2\"></span>currency int<span class=\"_ _0\"></span>erest rate swaps to<span class=\"_ _0\"></span> bet<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>er match the </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs675\">currency of debt<span class=\"_ _0\"></span> to the ov<span class=\"_ _0\"></span>erall currency of earnings.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls79 ws3 gs676\">A mat<span class=\"_ _2\"></span>eria<span class=\"_ _2\"></span>l prop<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s de<span class=\"_ _2\"></span>bt is he<span class=\"_ _2\"></span>ld in o<span class=\"_ _2\"></span>r swa<span class=\"_ _2\"></span>ppe<span class=\"_ _2\"></span>d into eu<span class=\"_ _2\"></span>ros an<span class=\"_ _2\"></span>d US do<span class=\"_ _2\"></span>llar<span class=\"_ _2\"></span>s (se<span class=\"_ _2\"></span>e the t<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e show<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs677\">th<span class=\"_ _2\"></span>e cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y of bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s in no<span class=\"_ _2\"></span>te<span class=\"_ gs5a0\"> </span>16<span class=\"_ _2\"></span>.1). A p<span class=\"_ _2\"></span>ropo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of the e<span class=\"_ _2\"></span>uro de<span class=\"_ _2\"></span>nom<span class=\"_ _2\"></span>inate<span class=\"_ _2\"></span>d deb<span class=\"_ _2\"></span>t and cr<span class=\"_ _2\"></span>oss<span class=\"_ _2\"></span>-c<span class=\"_ _2\"></span>urre<span class=\"_ _2\"></span>nc<span class=\"_ _2\"></span>y </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs678\">in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps pro<span class=\"_ _2\"></span>vid<span class=\"_ _2\"></span>e a hed<span class=\"_ _2\"></span>ge aga<span class=\"_ _2\"></span>ins<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s net in<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt in eu<span class=\"_ _2\"></span>ro and U<span class=\"_ _2\"></span>S dol<span class=\"_ _2\"></span>lar op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs679\">In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2025, th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up is<span class=\"_ _2\"></span>sued a C<span class=\"_ _2\"></span>HF<span class=\"_ _2\"></span>150 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd an<span class=\"_ _2\"></span>d JPY40 bil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n of f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nds (s<span class=\"_ _2\"></span>ee </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs67a\">not<span class=\"_ _2\"></span>e 16)<span class=\"_ _2\"></span>. Thes<span class=\"_ _2\"></span>e bon<span class=\"_ _2\"></span>ds hav<span class=\"_ _2\"></span>e bee<span class=\"_ _2\"></span>n desi<span class=\"_ _2\"></span>gnat<span class=\"_ _2\"></span>ed as he<span class=\"_ _2\"></span>dgi<span class=\"_ _2\"></span>ng in<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s in t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s net i<span class=\"_ _2\"></span>nves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent in S<span class=\"_ _2\"></span>wis<span class=\"_ _2\"></span>s </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs67b\">Franc and Japanese<span class=\"_ _0\"></span> Y<span class=\"_ _0\"></span>en r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting subsidiaries.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs67c\">At 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 2025, th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s desi<span class=\"_ _2\"></span>gna<span class=\"_ _2\"></span>ted he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>s of it<span class=\"_ _2\"></span>s net i<span class=\"_ _2\"></span>nves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s were e<span class=\"_ _2\"></span>ff<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve.<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff75 fs129 fc1 sc0 ls6d wsd4 gs67d\">T<span class=\"_ _0\"></span>ransactional risk<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs67e\">While transac<span class=\"_ _2\"></span>tional<span class=\"_ _0\"></span> foreign ex<span class=\"_ _0\"></span>change exposure<span class=\"_ _0\"></span> is limited, the Group<span class=\"_ _0\"></span> mit<span class=\"_ _2\"></span>igat<span class=\"_ _0\"></span>es this by e<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>her<span class=\"_ _0\"></span> hedging </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs67f\">material transactions wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> appropriate derivative instrument<span class=\"_ _2\"></span>s or<span class=\"_ _0\"></span> by settling currency payables or rec<span class=\"_ _0\"></span>eivables </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs680\">within a short timeframe. The Group<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>reasury Policy requires net<span class=\"_ _0\"></span> balance sheet<span class=\"_ _0\"></span> positions over \u00a32 million </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs681\">or e<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>val<span class=\"_ _2\"></span>ent to b<span class=\"_ _2\"></span>e hed<span class=\"_ _2\"></span>ged<span class=\"_ _2\"></span>. The r<span class=\"_ _2\"></span>isk is a<span class=\"_ _2\"></span>lso m<span class=\"_ _2\"></span>inim<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d by the p<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>odi<span class=\"_ _2\"></span>c exchan<span class=\"_ _2\"></span>ge of c<span class=\"_ _2\"></span>ash in<span class=\"_ _2\"></span>to eac<span class=\"_ _2\"></span>h Gro<span class=\"_ _2\"></span>up </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs682\">entit<span class=\"_ _2\"></span>y\u2019s functional currency.<span class=\"_ _0\"></span> Where appropriate,<span class=\"_ _0\"></span> hedge accounting f<span class=\"_ _0\"></span>or debt and derivatives is<span class=\"_ _0\"></span> considered </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs683\">in o<span class=\"_ _2\"></span>rder to m<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>igate m<span class=\"_ _2\"></span>ater<span class=\"_ _2\"></span>ial l<span class=\"_ _2\"></span>evels o<span class=\"_ _2\"></span>f inco<span class=\"_ _2\"></span>me s<span class=\"_ _2\"></span>tate<span class=\"_ _2\"></span>ment v<span class=\"_ _2\"></span>olat<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h187 ff75 fs129 fc1 sc0 ls6c ws96 gs684\">Sensitivit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs685\">In a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n to pro<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng an<span class=\"_ _2\"></span>d anal<span class=\"_ _2\"></span>ysi<span class=\"_ _2\"></span>ng it<span class=\"_ _2\"></span>s ea<span class=\"_ _2\"></span>rni<span class=\"_ _2\"></span>ngs an<span class=\"_ _2\"></span>d deb<span class=\"_ _2\"></span>t prof<span class=\"_ _2\"></span>il<span class=\"_ _2\"></span>e by cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y, the G<span class=\"_ _2\"></span>roup r<span class=\"_ _2\"></span>evie<span class=\"_ _2\"></span>ws </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs686\">sensitiv<span class=\"_ _2\"></span>ities to<span class=\"_ _0\"></span> movements in ex<span class=\"_ _0\"></span>change rates. The<span class=\"_ _0\"></span> Group has consider<span class=\"_ _0\"></span>ed movements in the eur<span class=\"_ _0\"></span>o and the </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs687\">US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>r over 2025 an<span class=\"_ _2\"></span>d 202<span class=\"_ _0\"></span>4 an<span class=\"_ _2\"></span>d, ba<span class=\"_ _2\"></span>sed on a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual m<span class=\"_ _2\"></span>arket o<span class=\"_ _2\"></span>bser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons b<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>ween i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s pri<span class=\"_ _2\"></span>ncip<span class=\"_ _2\"></span>al cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs688\">pa<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>, has co<span class=\"_ _2\"></span>nclu<span class=\"_ _2\"></span>ded t<span class=\"_ _2\"></span>hat a 1<span class=\"_ _2\"></span>0% m<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ent in r<span class=\"_ _2\"></span>ates i<span class=\"_ _2\"></span>s a reas<span class=\"_ _2\"></span>onab<span class=\"_ _2\"></span>le le<span class=\"_ _2\"></span>vel to il<span class=\"_ _2\"></span>lus<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ate t<span class=\"_ _2\"></span>he ris<span class=\"_ _2\"></span>k to th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p. </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs689\">Th<span class=\"_ _2\"></span>e impa<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>n prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t af<span class=\"_ _2\"></span>ter ta<span class=\"_ _2\"></span>x and e<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is set o<span class=\"_ _2\"></span>ut in t<span class=\"_ _2\"></span>he t<span class=\"_ _2\"></span>able b<span class=\"_ _2\"></span>elo<span class=\"_ _2\"></span>w:<span class=\"_ _314\"> </span></div><div class=\"gs68a\"><table class=\"s w8cc h295\" id=\"_a552a96e-da24-454b-b27d-c90b799a21d1\"><tr><td></td><td></td><td class=\"c n xea0 y2423 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xea1 y2423 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xea2 h13 y2424 ff75 fs6 fc1 sc0 lse0 ws110\">Profit </td><td></td><td class=\"t m0 xe36 hb y2424 ff76 fs6 fc1 sc0 ls4 ws3\">Prof<span class=\"_ _2\"></span>it </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xe5a h13 y2425 ff75 fs6 fc1 sc0 ls77 wsa3\">after tax<span class=\"_ _314\"> </span></td><td class=\"t m0 xea3 h13 y2425 ff75 fs6 fc1 sc0 lse5 ws125\">Equity<span class=\"_ _314\"> </span></td><td class=\"t m0 xea4 hb y2425 ff76 fs6 fc1 sc0 ls26 ws3\">af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r tax<span class=\"_ _314\"> </span></td><td class=\"t m0 xea5 hb y2425 ff76 fs6 fc1 sc0 ls41 ws56\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 xea6 h13 y2426 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 xea7 h13 y2426 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 xea8 hb y2426 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 xea9 hb y2426 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y22e2 w70a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">Euro<span class=\"_ _314\"> </span></div></td><td class=\"c n xeaa y22e2 w8cd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Sterling weak<span class=\"_ _0\"></span>ens<span class=\"_ _314\"> </span></div></td><td class=\"c n xeab y22e2 w33a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xeac y22e2 w8ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">(57<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xead y22e2 w33d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wsda\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xeae y22e2 w8cf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">(66)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xeaf y22e3 w8d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Sterling strengthens<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb0 y22e3 w419 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(16)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb1 y22e3 w95 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">53<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb2 y22e3 w8d1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(16)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb3 y22e3 w8d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">60<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w711 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">US dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb4 y22e4 w8d3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Sterling w<span class=\"_ _0\"></span>eakens<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb5 y22e4 w8d4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">26<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb6 y22e4 w8d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(18<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb7 y22e4 w8d6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wsda\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb8 y22e4 w8d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">(19)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xeaf y2069 w8d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Sterling strengthens<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb9 y2069 w192 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">(23)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeba y2069 w639 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">16<span class=\"_ _314\"> </span></div></td><td class=\"c n xebb y2427 w8d1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(16)<span class=\"_ _314\"> </span></div></td><td class=\"c n xebc y2427 w7c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs68b\">Th<span class=\"_ _2\"></span>e sens<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ivi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y of pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t af<span class=\"_ _2\"></span>ter t<span class=\"_ _2\"></span>ax ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s fo<span class=\"_ _2\"></span>reign e<span class=\"_ _2\"></span>xchan<span class=\"_ _2\"></span>ge gai<span class=\"_ _2\"></span>ns or l<span class=\"_ _2\"></span>oss<span class=\"_ _2\"></span>es on t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>slat<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f fi<span class=\"_ _2\"></span>nanc<span class=\"_ _2\"></span>ial as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs68c\">and financial liabilities, including cash<span class=\"_ _0\"></span> and borrowings but e<span class=\"_ _0\"></span>xcluding hedged balances.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs68d\">Th<span class=\"_ _2\"></span>e sens<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ivi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y of eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y ma<span class=\"_ _2\"></span>inl<span class=\"_ _2\"></span>y ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s the f<span class=\"_ _2\"></span>oreig<span class=\"_ _2\"></span>n excha<span class=\"_ _2\"></span>nge ga<span class=\"_ _2\"></span>ins o<span class=\"_ _2\"></span>r los<span class=\"_ _2\"></span>ses on t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>nsla<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of eur<span class=\"_ _2\"></span>o </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs68e\">borrowings and derivative financial instrument<span class=\"_ _2\"></span>s that<span class=\"_ _0\"></span> have been design<span class=\"_ _0\"></span>ated as hedges o<span class=\"_ _0\"></span>f a net<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ment </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs68f\">in f<span class=\"_ _0\"></span>oreign operations.<span class=\"_ _314\"> </span></div>Mar<span class=\"_ _2\"></span>ket risk \u2013 i<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate ri<span class=\"_ _2\"></span>sk<span class=\"_ _314\"> </span>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>The Group\u2019<span class=\"_ _0\"></span>s inter<span class=\"_ _0\"></span>est rate risk arises<span class=\"_ _0\"></span> from the im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t of cha<span class=\"_ _2\"></span>nge<span class=\"_ _2\"></span>s in in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>es on c<span class=\"_ _2\"></span>ash held and in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ments in financial assets, an<span class=\"_ _2\"></span>d on bor<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>ings h<span class=\"_ _2\"></span>eld a<span class=\"_ _2\"></span>t fl<span class=\"_ _2\"></span>oat<span class=\"_ _2\"></span>ing r<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The Group ma<span class=\"_ _0\"></span>y also face<span class=\"_ _0\"></span> future interest rate<span class=\"_ _0\"></span> exposure c<span class=\"_ _0\"></span>onnec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> to M&amp;A trans<span class=\"_ _2\"></span>actions where significant debt financing is in<span class=\"_ _0\"></span>volved.<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s CCPs h<span class=\"_ _0\"></span>ave member liabilities, and separately achieve<span class=\"_ _0\"></span> returns which support the payment of<span class=\"_ _0\"></span> these liabilities. A CCP\u2019s interest rate<span class=\"_ _0\"></span> risk can incre<span class=\"_ _0\"></span>ase if the ref<span class=\"_ _0\"></span>erence rates used t<span class=\"_ _0\"></span>o calculate liabilities increase<span class=\"_ _0\"></span> while the ref<span class=\"_ _0\"></span>erence rates<span class=\"_ _0\"></span> that underpin investment ret<span class=\"_ _2\"></span>urns d<span class=\"_ _2\"></span>ecre<span class=\"_ _2\"></span>ase (o<span class=\"_ _2\"></span>r do not i<span class=\"_ _2\"></span>ncre<span class=\"_ _2\"></span>ase by t<span class=\"_ _2\"></span>he same amount).<span class=\"_ _314\"> </span>Group companies<span class=\"_ _0\"></span> that of<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>er guaranteed sett<span class=\"_ _2\"></span>lement<span class=\"_ _0\"></span> of traded securities can also be ex<span class=\"_ _2\"></span>pos<span class=\"_ _2\"></span>ed to la<span class=\"_ _2\"></span>tent i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st r<span class=\"_ _2\"></span>ate ri<span class=\"_ _2\"></span>sk (and<span class=\"_ _2\"></span> mar<span class=\"_ _2\"></span>ket ri<span class=\"_ _2\"></span>sk mor<span class=\"_ _2\"></span>e gene<span class=\"_ _2\"></span>ral<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>) in th<span class=\"_ _2\"></span>e even<span class=\"_ _2\"></span>t of a count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> default<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s inter<span class=\"_ _2\"></span>est r<span class=\"_ _2\"></span>ate ma<span class=\"_ _2\"></span>nag<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>t pol<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>y focu<span class=\"_ _2\"></span>ses on p<span class=\"_ _2\"></span>rote<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s cre<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>ing an<span class=\"_ _2\"></span>d lim<span class=\"_ _2\"></span>iti<span class=\"_ _2\"></span>ng t<span class=\"_ _2\"></span>he im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t of in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t ra<span class=\"_ _2\"></span>te chan<span class=\"_ _2\"></span>ges o<span class=\"_ _2\"></span>n Gro<span class=\"_ _2\"></span>up ear<span class=\"_ _2\"></span>nin<span class=\"_ _2\"></span>gs. T<span class=\"_ _0\"></span>o su<span class=\"_ _2\"></span>ppo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>t thi<span class=\"_ _2\"></span>s obje<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>e, th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p mon<span class=\"_ _2\"></span>itor<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t of ch<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>es in key in<span class=\"_ _2\"></span>tere<span class=\"_ _2\"></span>st ra<span class=\"_ _2\"></span>tes on t<span class=\"_ _2\"></span>he an<span class=\"_ _2\"></span>nua<span class=\"_ _2\"></span>lise<span class=\"_ _2\"></span>d net f<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>nce co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s and m<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>s a max<span class=\"_ _2\"></span>imu<span class=\"_ _2\"></span>m debt f<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>oat<span class=\"_ _2\"></span>ing rate c<span class=\"_ _0\"></span>omponent of 50%. This appr<span class=\"_ _0\"></span>oach reflect<span class=\"_ _2\"></span>s: <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">a fo<span class=\"_ _2\"></span>cus o<span class=\"_ _2\"></span>n the G<span class=\"_ _2\"></span>roup\u2019s co<span class=\"_ _2\"></span>st of g<span class=\"_ _2\"></span>ros<span class=\"_ _2\"></span>s debt r<span class=\"_ _2\"></span>ath<span class=\"_ _2\"></span>er t<span class=\"_ _2\"></span>han it<span class=\"_ _2\"></span>s ne<span class=\"_ _2\"></span>t debt g<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>n the m<span class=\"_ _2\"></span>ater<span class=\"_ _2\"></span>ial c<span class=\"_ _2\"></span>ash an<span class=\"_ _2\"></span>d cas<span class=\"_ _2\"></span>h </span>equivalent<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> set aside for<span class=\"_ _0\"></span> regulatory purposes; <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">the shor<span class=\"_ _2\"></span>t duration al<span class=\"_ _0\"></span>lowed for in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ments of<span class=\"_ _0\"></span> cash and cash equivalents held for<span class=\"_ _0\"></span> regulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> purposes </span>wh<span class=\"_ _2\"></span>ich, b<span class=\"_ _2\"></span>y the<span class=\"_ _2\"></span>ir nat<span class=\"_ _2\"></span>ure, g<span class=\"_ _2\"></span>ener<span class=\"_ _2\"></span>ate lo<span class=\"_ _2\"></span>w inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment y<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>lds; a<span class=\"_ _2\"></span>nd <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">t<span class=\"_ _2\"></span>he bro<span class=\"_ _2\"></span>ad na<span class=\"_ _2\"></span>tura<span class=\"_ _2\"></span>l hed<span class=\"_ _2\"></span>ge of f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng rat<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs p<span class=\"_ _2\"></span>rovi<span class=\"_ _2\"></span>ded by t<span class=\"_ _2\"></span>he si<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t bala<span class=\"_ _2\"></span>nces o<span class=\"_ _2\"></span>f cas<span class=\"_ _2\"></span>h and c<span class=\"_ _2\"></span>ash </span>equivalent<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> held effec<span class=\"_ _2\"></span>tively at floating rates of<span class=\"_ _0\"></span> interest.<span class=\"_ _314\"> </span>At 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 2025, th<span class=\"_ _2\"></span>e fl<span class=\"_ _2\"></span>oat<span class=\"_ _2\"></span>ing r<span class=\"_ _2\"></span>ate co<span class=\"_ _2\"></span>mpon<span class=\"_ _2\"></span>ent o<span class=\"_ _2\"></span>f tota<span class=\"_ _2\"></span>l debt w<span class=\"_ _2\"></span>as 40<span class=\"_ _2\"></span>% (2024: 30<span class=\"_ _2\"></span>%).<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up has c<span class=\"_ _2\"></span>omm<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ted to M<span class=\"_ _2\"></span>&amp;<span class=\"_ _2\"></span>A tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>s and i<span class=\"_ _2\"></span>s expo<span class=\"_ _2\"></span>sed to p<span class=\"_ _2\"></span>rosp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>e risk o<span class=\"_ _2\"></span>n borrowings, the Group T<span class=\"_ _3\"></span>reasur<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tion will<span class=\"_ _0\"></span> assess the exposure and<span class=\"_ _0\"></span> consider hedging solutions that con<span class=\"_ _2\"></span>form w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h pol<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>y and se<span class=\"_ _2\"></span>ek to li<span class=\"_ _2\"></span>mit f<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ure int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In the Group<span class=\"_ _0\"></span>\u2019s CCPs, int<span class=\"_ _0\"></span>erest-<span class=\"_ _2\"></span>bearing assets ar<span class=\"_ _0\"></span>e generally invested in<span class=\"_ _0\"></span> secured instrument<span class=\"_ _2\"></span>s or<span class=\"_ _0\"></span> st<span class=\"_ _2\"></span>ructures and for<span class=\"_ _0\"></span> a longer term<span class=\"_ _0\"></span> than interest-bearing liabilities, whose interest rat<span class=\"_ _0\"></span>e is reset<span class=\"_ _0\"></span> daily.<span class=\"_ _0\"></span> This makes<span class=\"_ _0\"></span> investment returns vulnerable t<span class=\"_ _0\"></span>o volatilit<span class=\"_ _2\"></span>y in<span class=\"_ _0\"></span> overnight rates<span class=\"_ _0\"></span> and shif<span class=\"_ _2\"></span>ts in<span class=\"_ _0\"></span> spreads between overnight and ter<span class=\"_ _2\"></span>m rate<span class=\"_ _2\"></span>s. In<span class=\"_ _2\"></span>tere<span class=\"_ _2\"></span>st r<span class=\"_ _2\"></span>ate exp<span class=\"_ _2\"></span>osu<span class=\"_ _2\"></span>res (and t<span class=\"_ _2\"></span>he r<span class=\"_ _2\"></span>isk to CC<span class=\"_ _2\"></span>P cap<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>al) a<span class=\"_ _2\"></span>re mana<span class=\"_ _2\"></span>ged w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin de<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ned r<span class=\"_ _2\"></span>isk ap<span class=\"_ _2\"></span>pet<span class=\"_ _2\"></span>ite<span class=\"_ _2\"></span> parameters against which sensitiv<span class=\"_ _2\"></span>ities are<span class=\"_ _0\"></span> monitored daily.<span class=\"_ _314\"> </span>In its review of<span class=\"_ _0\"></span> the sensitiv<span class=\"_ _2\"></span>ities to<span class=\"_ _0\"></span> potential movements in i<span class=\"_ _0\"></span>nterest rates, the Group<span class=\"_ _0\"></span> has considered<span class=\"_ _0\"></span> interest ra<span class=\"_ _2\"></span>te vola<span class=\"_ _2\"></span>til<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ast y<span class=\"_ _2\"></span>ear an<span class=\"_ _2\"></span>d pros<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s for r<span class=\"_ _2\"></span>ates ov<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>e nex<span class=\"_ _2\"></span>t 12 mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>s. I<span class=\"_ _2\"></span>t has con<span class=\"_ _2\"></span>clu<span class=\"_ _2\"></span>ded t<span class=\"_ _2\"></span>hat a one percentage<span class=\"_ _0\"></span> point downward movement<span class=\"_ _0\"></span> (wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> a limited prospect of m<span class=\"_ _0\"></span>aterial upward<span class=\"_ _0\"></span> movement) reflec<span class=\"_ _2\"></span>ts a rea<span class=\"_ _2\"></span>sona<span class=\"_ _2\"></span>ble l<span class=\"_ _2\"></span>evel of r<span class=\"_ _2\"></span>isk to c<span class=\"_ _2\"></span>urre<span class=\"_ _2\"></span>nt ra<span class=\"_ _2\"></span>tes. I<span class=\"_ _2\"></span>f int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>es on c<span class=\"_ _2\"></span>ash an<span class=\"_ _2\"></span>d cas<span class=\"_ _2\"></span>h equ<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>lent<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>, bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs an<span class=\"_ _2\"></span>d derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments had been<span class=\"_ _0\"></span> one percentage point<span class=\"_ _0\"></span> lower<span class=\"_ _0\"></span>, with all other variables held<span class=\"_ _0\"></span> constant<span class=\"_ _2\"></span>, pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t af<span class=\"_ _2\"></span>ter t<span class=\"_ _2\"></span>ax for 2<span class=\"_ _2\"></span>02<span class=\"_ _0\"></span>5 wo<span class=\"_ _2\"></span>uld h<span class=\"_ _2\"></span>ave be<span class=\"_ _2\"></span>en \u00a34 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n high<span class=\"_ _2\"></span>er (2024: \u00a35 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on low<span class=\"_ _2\"></span>er) ma<span class=\"_ _2\"></span>inl<span class=\"_ _2\"></span>y as a res<span class=\"_ _2\"></span>ult o<span class=\"_ _2\"></span>f lowe<span class=\"_ _2\"></span>r in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t exp<span class=\"_ _2\"></span>ens<span class=\"_ _2\"></span>e on f<span class=\"_ _2\"></span>loat<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>g rate b<span class=\"_ _2\"></span>orro<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>gs, p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly o<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fse<span class=\"_ _2\"></span>t by lowe<span class=\"_ _2\"></span>r inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t inco<span class=\"_ _2\"></span>me on f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng rat<span class=\"_ _2\"></span>e cash<span class=\"_ _2\"></span> and cash equivalents.<span class=\"_ _314\"> </span>At t<span class=\"_ _2\"></span>he CCP l<span class=\"_ _2\"></span>evel (<span class=\"_ _2\"></span>in ag<span class=\"_ _2\"></span>greg<span class=\"_ _2\"></span>ate), i<span class=\"_ _2\"></span>f inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t rate<span class=\"_ _2\"></span>s on th<span class=\"_ _2\"></span>e com<span class=\"_ _2\"></span>mon in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>bea<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g mem<span class=\"_ _2\"></span>ber li<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y be<span class=\"_ _2\"></span>nchm<span class=\"_ _2\"></span>ark<span class=\"_ _2\"></span>s of EO<span class=\"_ _2\"></span>NI<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>, Fed F<span class=\"_ _2\"></span>unds a<span class=\"_ _2\"></span>nd SO<span class=\"_ _2\"></span>NI<span class=\"_ _2\"></span>A (fo<span class=\"_ _2\"></span>r euro, U<span class=\"_ _2\"></span>S doll<span class=\"_ _2\"></span>ar an<span class=\"_ _2\"></span>d ste<span class=\"_ _2\"></span>rlin<span class=\"_ _2\"></span>g liab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>tie<span class=\"_ _2\"></span>s resp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vel<span class=\"_ _2\"></span>y) ha<span class=\"_ _2\"></span>d been one per<span class=\"_ _0\"></span>centage point lower<span class=\"_ _0\"></span>, with all<span class=\"_ _0\"></span> other variables held constant, the Group\u2019<span class=\"_ _0\"></span>s profit af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> tax would have been<span class=\"_ _0\"></span> \u00a31 million higher<span class=\"_ _0\"></span> (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a31 million)<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>17<span class=\"_ _3\"></span>.6 Of<span class=\"_ _2\"></span>fsetting f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s a<span class=\"_ _0\"></span>nd f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ts f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> on a net basis on the balanc<span class=\"_ _0\"></span>e sheet where<span class=\"_ _0\"></span> there is a legally enf<span class=\"_ _0\"></span>orceable right to o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset the recognised amounts and there<span class=\"_ _0\"></span> is an intention to set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>le on a n<span class=\"_ _2\"></span>et basi<span class=\"_ _2\"></span>s, or to r<span class=\"_ _2\"></span>ealis<span class=\"_ _2\"></span>e the a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d set<span class=\"_ _2\"></span>tl<span class=\"_ _2\"></span>e the<span class=\"_ _2\"></span> liabilities simultaneousl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p appl<span class=\"_ _2\"></span>ies t<span class=\"_ _2\"></span>he rul<span class=\"_ _2\"></span>es of le<span class=\"_ _2\"></span>gal r<span class=\"_ _2\"></span>ight o<span class=\"_ _2\"></span>f set of<span class=\"_ _2\"></span>f an<span class=\"_ _2\"></span>d inten<span class=\"_ _2\"></span>t to net settle wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s clearing member<span class=\"_ _0\"></span> balances. The carr<span class=\"_ _2\"></span>ying values of the<span class=\"_ _0\"></span> balances are o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset at an<span class=\"_ _0\"></span> appropriate level<span class=\"_ _0\"></span> to arrive at the net<span class=\"_ _0\"></span> balances reported in the balance<span class=\"_ _0\"></span> sheet<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The approach ado<span class=\"_ _2\"></span>pted i<span class=\"_ _2\"></span>s revi<span class=\"_ _2\"></span>ewed on a r<span class=\"_ _2\"></span>egul<span class=\"_ _2\"></span>ar bas<span class=\"_ _2\"></span>is to ens<span class=\"_ _2\"></span>ure it re<span class=\"_ _2\"></span>main<span class=\"_ _2\"></span>s the<span class=\"_ _2\"></span> most appropriate. Any ch<span class=\"_ _0\"></span>ange in approach would<span class=\"_ _0\"></span> not materially af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he net as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up.<span class=\"_ _314\"> </span><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs27d\">The following tables<span class=\"_ _0\"></span> show the impact of nettin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> arrangemen<span class=\"_ _2\"></span>ts on all<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities that are reported net on<span class=\"_ _0\"></span> the balance </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs27e\">she<span class=\"_ _2\"></span>et and w<span class=\"_ _2\"></span>here b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ces have n<span class=\"_ _2\"></span>ot be<span class=\"_ _2\"></span>en net<span class=\"_ _2\"></span>ted b<span class=\"_ _2\"></span>ut t<span class=\"_ _2\"></span>here is a r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t to of<span class=\"_ _2\"></span>fs<span class=\"_ _2\"></span>et in th<span class=\"_ _2\"></span>e event o<span class=\"_ _2\"></span>f defa<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span></div><div class=\"gse3\"><table class=\"s w8d8 h296\" id=\"_5a8ca4a2-60eb-4476-b559-a67ec1c3f527\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xebd h13 y2428 ff75 fs6 fc1 sc0 ls12 ws44\">Amounts not </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x2cf h13 y2429 ff75 fs6 fc1 sc0 ls27 ws43\">netted, but </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xebe h13 y242a ff75 fs6 fc1 sc0 ls12 ws44\">Amount as </td><td class=\"t m0 xebf h13 y242a ff75 fs6 fc1 sc0 lse5 ws75\">available in </td><td></td></tr><tr><td></td><td class=\"t m0 xec0 h13 y242b ff75 fs6 fc1 sc0 ls4 ws3\">Gros<span class=\"_ _2\"></span>s </td><td class=\"t m0 xec1 h13 y242b ff75 fs6 fc1 sc0 ls12 ws81\">Amount </td><td class=\"t m0 xec2 h13 y242b ff75 fs6 fc1 sc0 ls26 ws3\">rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ted in t<span class=\"_ _2\"></span>he </td><td class=\"t m0 xec3 h13 y242b ff75 fs6 fc1 sc0 ls26 ws3\">even<span class=\"_ _2\"></span>t of<span class=\"_ _314\"> </span></td><td class=\"t m0 xec4 h13 y242b ff75 fs6 fc1 sc0 ls4 ws3\">Net </td></tr><tr><td></td><td class=\"t m0 xec5 h13 y242c ff75 fs6 fc1 sc0 ls12 ws81\">amount<span class=\"_ _314\"> </span></td><td class=\"t m0 x2cd h13 y242c ff75 fs6 fc1 sc0 ls110 ws183\">off<span class=\"_ _2\"></span>set<span class=\"_ _314\"> </span></td><td class=\"t m0 xec6 h13 y242c ff75 fs6 fc1 sc0 ls12 ws44\">balance sheet<span class=\"_ _314\"> </span></td><td class=\"c xec8 y242d w8d9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws125\">default</div><div class=\"t m0 xec7 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xec9 h13 y242c ff75 fs6 fc1 sc0 ls12 ws81\">amount<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y242e w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xeca y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xecb y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xecc y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xecd y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xece y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y218b w8da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets</div><div class=\"t m0 xecf h194 y20c0 ff76 fs12a fc1 sc0 ls113 ws188\">2,3<span class=\"_ _314\"> </span></div></td><td class=\"c n xed0 y2072 w8db h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaf wsd9\">2<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>42<span class=\"_ _2\"></span>5,1<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xed1 y2072 w8dc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">(1,<span class=\"_ _2\"></span>890,182)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed2 y2072 w8dd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">534,966<span class=\"_ _314\"> </span></div></td><td class=\"c n xed3 y2072 w8de h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">(534,966)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed4 y2072 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y218c w8df h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Reverse r<span class=\"_ _0\"></span>epurchase agreements</div><div class=\"t m0 xa46 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a0 y2073 w8e0 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">135,408<span class=\"_ _314\"> </span></div></td><td class=\"c n xed5 y2073 w8e1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _1\"></span>7,<span class=\"_ _2\"></span>9<span class=\"_ _1\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _1\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed6 y2073 w8e2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xed7 y2073 w8e3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed8 y2073 w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21b6 w8e4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeda y2065 w8e5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls75 ws9e\">191<span class=\"_ _314\"> </span></div></td><td class=\"c n xedb y2065 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xedc y2065 w8e6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls75 ws9e\">191<span class=\"_ _314\"> </span></div></td><td class=\"c n xedd y2065 w3ca h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">(12)<span class=\"_ _314\"> </span></div></td><td class=\"c n xede y2065 w693 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">179<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 we3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xedf y2066 w8e7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls78 wse4\">2<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>56<span class=\"_ _2\"></span>0<span class=\"_ _2\"></span>,74<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xee0 y2066 w8e8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaa wsd6\">(1,898,099)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee1 y2066 w8e9 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,648<span class=\"_ _314\"> </span></div></td><td class=\"c n xee2 y2066 w8ea h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">(662<span class=\"_ _2\"></span>,469<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee3 y2066 w8eb h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">17<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y213d w8ec h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities</div><div class=\"t m0 xee4 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2,3<span class=\"_ _314\"> </span></div></td><td class=\"c n xee5 y214c w8ed h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(2,451,253)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee6 y214c w8ee h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">1<span class=\"_ _2\"></span>,916,<span class=\"_ _2\"></span>287<span class=\"_ _314\"> </span></div></td><td class=\"c n xee7 y214c w8de h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">(534,966)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee8 y214c w8dd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">534,966<span class=\"_ _314\"> </span></div></td><td class=\"c n xee9 y214c w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y20d9 w8ef h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Repurchase<span class=\"_ _0\"></span> agreements</div><div class=\"t m0 xeea h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a4 y2075 w8f0 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">(135,408)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeeb y2075 w8f1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xeec y2075 w8e3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeed y2075 w8f2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>9<span class=\"_ _1\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xeee y2075 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y20da w8e4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeef y2068 w8f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef0 y2068 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xef1 y2068 w8f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef2 y2068 w4b2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xef3 y2068 w8f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa7 wsd3\">(9)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w10e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xef4 y2069 w8f5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">(2,<span class=\"_ _2\"></span>586,6<span class=\"_ _2\"></span>82)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef5 y2069 w8f6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">1,92<span class=\"_ _0\"></span>4,204<span class=\"_ _314\"> </span></div></td><td class=\"c n xef6 y2069 w8f7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">(662,478)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef7 y2069 w8f8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,469<span class=\"_ _314\"> </span></div></td><td class=\"c n xef8 y2069 w8f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa7 wsd3\">(9)<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"gs6cb\"><table class=\"s w8f9 h297\" id=\"_d44fc5fa-6de7-44b9-bb24-ccfc8245ab27\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xef9 hb y242f ff76 fs6 fc1 sc0 ls27 ws43\">Amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> not </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xefa hb y2430 ff76 fs6 fc1 sc0 ls26 ws3\">net<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d, bu<span class=\"_ _2\"></span>t </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xefb hb y2431 ff76 fs6 fc1 sc0 ls41 ws5e\">Amount as </td><td class=\"t m0 x2cf hb y2431 ff76 fs6 fc1 sc0 ls12 ws44\">available in </td><td></td></tr><tr><td></td><td class=\"t m0 xec0 hb y2432 ff76 fs6 fc1 sc0 ls4 ws3\">Gros<span class=\"_ _2\"></span>s </td><td class=\"t m0 xefc hb y2432 ff76 fs6 fc1 sc0 ls7a wsbe\">Amount </td><td class=\"t m0 xefd hb y2432 ff76 fs6 fc1 sc0 ls26 ws3\">rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>n the<span class=\"_ _2\"></span> </td><td class=\"t m0 x6d5 hb y2432 ff76 fs6 fc1 sc0 lse0 ws10e\">event of<span class=\"_ _314\"> </span></td><td class=\"t m0 xec4 hb y2432 ff76 fs6 fc1 sc0 ls4 ws3\">Net </td></tr><tr><td></td><td class=\"t m0 xefe hb y2433 ff76 fs6 fc1 sc0 ls27 ws45\">amount<span class=\"_ _314\"> </span></td><td class=\"t m0 xeff hb y2433 ff76 fs6 fc1 sc0 lse0 ws110\">of<span class=\"_ _2\"></span>fset<span class=\"_ _314\"> </span></td><td class=\"t m0 xba9 hb y2433 ff76 fs6 fc1 sc0 ls27 ws43\">balance sheet<span class=\"_ _314\"> </span></td><td class=\"c xf01 y2434 w8fa h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls5f ws84\">defaul<span class=\"_ _2\"></span>t</div><div class=\"t m0 xf00 h199 y2120 ff76 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xec9 hb y2433 ff76 fs6 fc1 sc0 ls27 ws45\">amount<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y2435 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xf02 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf03 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf04 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf05 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf06 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2072 w8fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets</div><div class=\"t m0 xecf h194 y20d4 ff76 fs12a fc1 sc0 ls11a ws3\">2, 3<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a4 y2072 w8fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">1,<span class=\"_ _2\"></span>80<span class=\"_ _2\"></span>4,27<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xf07 y2072 w8fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls61 ws86\">(<span class=\"_ _2\"></span>1,7<span class=\"_ _2\"></span>99,90<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf08 y2072 w8fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td><td class=\"c n xf09 y2072 w8ff h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(4,<span class=\"_ _2\"></span>36<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0a y2072 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2073 w8df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Reverse r<span class=\"_ _0\"></span>epurchase agreements</div><div class=\"t m0 xa46 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d7 y2073 w900 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">686,211<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0b y2073 w901 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">(9<span class=\"_ _2\"></span>6,023<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0c y2073 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0d y2073 w741 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">(59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0e y2073 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2065 w8e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeef y2065 w902 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0f y2065 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf10 y2065 w903 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n xf11 y2065 w268 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(48<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf12 y2065 w33f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 we3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xf13 y2066 w516 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2,49<span class=\"_ _2\"></span>0,568<span class=\"_ _314\"> </span></div></td><td class=\"c n xf14 y2066 w904 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">(1<span class=\"_ _2\"></span>,895,927)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf15 y2066 w905 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n xf16 y2066 w906 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(594,603)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf17 y2066 w117 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y214c w907 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities</div><div class=\"t m0 xee4 h194 y20d4 ff76 fs12a fc1 sc0 ls11a ws3\">2, 3<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a4 y214c w908 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls88 wsb4\">(1,819,018)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf18 y214c w909 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,8<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>51<span class=\"_ _314\"> </span></div></td><td class=\"c n xf19 y214c w90a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(4,<span class=\"_ _2\"></span>367<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1a y214c w8fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,3<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1b y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2075 w8ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Repurchase<span class=\"_ _0\"></span> agreements</div><div class=\"t m0 xeea h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x4b3 y2075 w90b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">(686,211)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1c y2075 w90c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">9<span class=\"_ _2\"></span>6,02<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1d y2075 w741 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">(59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1e y2075 w90d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1f y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w8e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeda y2068 w90e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">(<span class=\"_ _2\"></span>75)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf20 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf21 y2068 w1e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">(<span class=\"_ _2\"></span>75)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf22 y2068 w6b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb8 wse8\">48<span class=\"_ _314\"> </span></div></td><td class=\"c n xf23 y2068 w90f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">(27<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w10e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xf24 y2069 w910 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(2,505,304)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf25 y2069 w911 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>0<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td><td class=\"c n xf26 y2069 w912 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>594<span class=\"_ _2\"></span>,63<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf27 y2069 w913 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,60<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xf28 y2069 w90f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">(27<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs6cc\">1 <span class=\"_ _c\"> </span>T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s C<span class=\"_ _2\"></span>CP com<span class=\"_ _2\"></span>pan<span class=\"_ _2\"></span>ies a<span class=\"_ _2\"></span>ct a<span class=\"_ _2\"></span>s pr<span class=\"_ _2\"></span>inci<span class=\"_ _2\"></span>pal a<span class=\"_ _2\"></span>nd si<span class=\"_ _2\"></span>t in t<span class=\"_ _2\"></span>he mi<span class=\"_ _2\"></span>ddl<span class=\"_ _2\"></span>e of me<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>rs\u2019 t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ons a<span class=\"_ _2\"></span>nd ho<span class=\"_ _2\"></span>ld de<span class=\"_ _2\"></span>fau<span class=\"_ _2\"></span>lt fu<span class=\"_ _2\"></span>nd<span class=\"_ _2\"></span>s and ma<span class=\"_ _2\"></span>rgi<span class=\"_ _2\"></span>n amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s as a c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>enc<span class=\"_ _2\"></span>y ag<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>st t<span class=\"_ _2\"></span>he de<span class=\"_ _2\"></span>faul<span class=\"_ _2\"></span>t of a m<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er. As s<span class=\"_ _2\"></span>uch<span class=\"_ _2\"></span>, </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6cd\">fur<span class=\"_ _2\"></span>ther<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are available t<span class=\"_ _0\"></span>o offset in the event<span class=\"_ _0\"></span> of a<span class=\"_ _0\"></span> default reducing the asset<span class=\"_ _0\"></span> and liability to nil.<span class=\"_ _0\"></span> The Group is<span class=\"_ _0\"></span> subject to master netting arrangements in f<span class=\"_ _0\"></span>orce with financial counterparties with </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6ce\">whom the Group<span class=\"_ _0\"></span> trades derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _0\"></span> The master netting arrangements determine the proceedings<span class=\"_ _0\"></span> should either part<span class=\"_ _2\"></span>y de<span class=\"_ _0\"></span>fault on their obligations. In<span class=\"_ _0\"></span> the event of<span class=\"_ _0\"></span> default, the non-<span class=\"_ _2\"></span>defaulting party </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6cf\">will calculate<span class=\"_ _0\"></span> the sum of<span class=\"_ _0\"></span> the replacement cost<span class=\"_ _0\"></span> of outst<span class=\"_ _2\"></span>anding<span class=\"_ _0\"></span> transac<span class=\"_ _2\"></span>tions and<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to be settled.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6d0\">2 <span class=\"_ _7\"> </span>Offset amounts are clearing<span class=\"_ _0\"></span> member trading assets and trading liabilities<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> CCP businesses\u2019<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> instrum<span class=\"_ _2\"></span>ents.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs6d1\">3 <span class=\"_ _7\"> </span>T<span class=\"_ _2\"></span>he im<span class=\"_ _2\"></span>bal<span class=\"_ _2\"></span>ance b<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>wee<span class=\"_ _2\"></span>n gro<span class=\"_ _2\"></span>ss an<span class=\"_ _2\"></span>d of<span class=\"_ _2\"></span>fse<span class=\"_ _2\"></span>t amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s is c<span class=\"_ _2\"></span>aus<span class=\"_ _2\"></span>ed by t<span class=\"_ _2\"></span>he exc<span class=\"_ _2\"></span>lus<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f var<span class=\"_ _2\"></span>iat<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>arg<span class=\"_ _2\"></span>in pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le an<span class=\"_ _2\"></span>d rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble t<span class=\"_ _2\"></span>o and f<span class=\"_ _2\"></span>rom t<span class=\"_ _2\"></span>he me<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>rs o<span class=\"_ _2\"></span>n cle<span class=\"_ _2\"></span>ari<span class=\"_ _2\"></span>ng ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6d2\">4 <span class=\"_ _7\"> </span>Balance ex<span class=\"_ _0\"></span>cludes embedded derivatives<span class=\"_ _314\"> </span>.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-504": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>These financial assets are all r<span class=\"_ _0\"></span>ecognised at <span class=\"ff72 ls7 wsa\">fair value<span class=\"_ _0\"></span> through </span>other comprehensive inc<span class=\"_ _0\"></span>ome (F<span class=\"_ _2\"></span>V<span class=\"_ _0\"></span>OCI)<span class=\"ff71 ls3 ws3\">. S<span class=\"_ _2\"></span>ee not<span class=\"_ _2\"></span>e 17 for t<span class=\"_ _2\"></span>he </span>relevant ac<span class=\"_ _0\"></span>counting polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, specificall<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> in relation to<span class=\"_ _0\"></span>: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls7 wsa\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> instrumen<span class=\"_ _2\"></span>ts</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls6 ws7\">Debt instruments<span class=\"_ _314\"> </span></span>Investment<span class=\"_ _2\"></span>s in equity inst<span class=\"_ _2\"></span>ruments and convertible debt instr<span class=\"_ _2\"></span>uments (e<span class=\"_ _0\"></span>xcluding listed instrument<span class=\"_ _2\"></span>s)<span class=\"_ _0\"></span> are classif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> as Level<span class=\"_ _0\"></span> 3 (of<span class=\"_ _0\"></span> the fair value hierarchy<span class=\"_ _0\"></span> describe<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> in the accounting policy of note 1<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>). Lis<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s are c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s Level 1<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>ra<span class=\"_ _2\"></span>de<span class=\"_ _0\"></span> receivables<span class=\"ff76 ls6 ws7\"> are initially recognised at<span class=\"_ _0\"></span> the amount of the </span>con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion t<span class=\"_ _2\"></span>hat is u<span class=\"_ _2\"></span>ncon<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>iona<span class=\"_ _2\"></span>lly d<span class=\"_ _2\"></span>ue to th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p. They a<span class=\"_ _2\"></span>re sub<span class=\"_ _2\"></span>sequ<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>ly me<span class=\"_ _2\"></span>asure<span class=\"_ _2\"></span>d at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>, les<span class=\"_ _2\"></span>s any ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted credit loss (ECL).<span class=\"_ _0\"></span> Our approach to<span class=\"_ _0\"></span> calculating ECL provisions is<span class=\"_ _0\"></span> des<span class=\"_ _2\"></span>cri<span class=\"_ _2\"></span>bed in n<span class=\"_ _2\"></span>ote 17<span class=\"_ _0\"></span>. Th<span class=\"_ _2\"></span>e creat<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>nd rele<span class=\"_ _2\"></span>ase of s<span class=\"_ _2\"></span>uch pro<span class=\"_ _2\"></span>vis<span class=\"_ _2\"></span>ions<span class=\"_ _2\"></span> are r<span class=\"_ _0\"></span>ecognised in operating expenses in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Fees rec<span class=\"_ _0\"></span>eivable<span class=\"ff76 ls6 ws7\"> ar<span class=\"_ _0\"></span>e recognised when the Group<span class=\"_ _0\"></span> has an </span>unconditional right<span class=\"_ _0\"></span> to conside<span class=\"_ _0\"></span>ration in ex<span class=\"_ _0\"></span>change for<span class=\"_ _0\"></span> goods or se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ferre<span class=\"_ _2\"></span>d, bu<span class=\"_ _2\"></span>t no fee in<span class=\"_ _2\"></span>voice h<span class=\"_ _2\"></span>as be<span class=\"_ _2\"></span>en iss<span class=\"_ _2\"></span>ued<span class=\"_ _2\"></span>. Amount<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e transferred to trade rece<span class=\"_ _0\"></span>iv<span class=\"_ _2\"></span>ables<span class=\"_ _0\"></span> when an invoice has been<span class=\"_ _0\"></span> issued.<span class=\"_ _314\"> </span>Other receivables<span class=\"ff76 ls6 ws7\"> are initially rec<span class=\"_ _0\"></span>ognised at fair value and </span>subsequently at amor<span class=\"_ _2\"></span>tised cost, less any loss allowanc<span class=\"_ _0\"></span>e as described in note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>en a rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble is n<span class=\"_ _2\"></span>o lon<span class=\"_ _2\"></span>ger ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted to b<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>red, t<span class=\"_ _2\"></span>he fu<span class=\"_ _2\"></span>ll amo<span class=\"_ _2\"></span>unt is w<span class=\"_ _2\"></span>ri<span class=\"_ _2\"></span>tte<span class=\"_ _2\"></span>n of<span class=\"_ _2\"></span>f. We wil<span class=\"_ _2\"></span>l cont<span class=\"_ _2\"></span>inu<span class=\"_ _2\"></span>e to seek r<span class=\"_ _2\"></span>ecover<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>nd any subsequent amounts recov<span class=\"_ _0\"></span>ered against amounts previously writ<span class=\"_ _2\"></span>ten off are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement.<span class=\"_ _314\"> </span>Se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>6.<span class=\"_ _2\"></span>2 for th<span class=\"_ _2\"></span>e <span class=\"ff75 ls7 wsa\">net in<span class=\"_ _0\"></span>vestment in leases<span class=\"ff76 ls6 ws7\"> accounting policy<span class=\"_ _0\"></span>, </span></span>wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let<span class=\"_ _2\"></span>s prop<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts to a third part<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>The Group<span class=\"_ _0\"></span> has a tax i<span class=\"_ _0\"></span>ndemnit<span class=\"_ _2\"></span>y agr<span class=\"_ _0\"></span>eement with Thomson Reute<span class=\"_ _0\"></span>rs for any<span class=\"_ _0\"></span> tax liabilities incurred and tax rece<span class=\"_ _0\"></span>iv<span class=\"_ _2\"></span>ables<span class=\"_ _0\"></span> due before Refinit<span class=\"_ _2\"></span>iv (previously the Thomson R<span class=\"_ _0\"></span>euters Financial &amp; Risk Business) separated fr<span class=\"_ _0\"></span>om Thomson Reuters on 1<span class=\"_ _0\"></span> Oc<span class=\"_ _2\"></span>tober 2<span class=\"_ _0\"></span>018<span class=\"_ _2\"></span>. The <span class=\"ff75 ls5 ws5\">tax indemnity receivable<span class=\"ff76\"> is<span class=\"_ _0\"></span> recognised for<span class=\"_ _0\"></span> and measured </span></span>on the same basis<span class=\"_ _0\"></span> as the corresponding indemnified tax liabilities<span class=\"_ _2\"></span>. The indemnified tax liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are recognised within current<span class=\"_ _0\"></span> ta<span class=\"_ _2\"></span>x payable in the balanc<span class=\"_ _0\"></span>e sheet. When there is a<span class=\"_ _0\"></span> change in the indemnif<span class=\"_ _2\"></span>ied tax li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies, which<span class=\"_ _0\"></span> is recognised within tax in the income statement, there is an<span class=\"_ _0\"></span> of<span class=\"_ _2\"></span>fsett<span class=\"_ _2\"></span>ing change<span class=\"_ _0\"></span> in the tax indemnit<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>eceivable. (<span class=\"_ _2\"></span>The tax indemnity payable is described in no<span class=\"_ _2\"></span>te 15.)<span class=\"_ _314\"> </span>Contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"ff76 ls3 ws3\"> are reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has a con<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>al </span>right to<span class=\"_ _0\"></span> consideration from<span class=\"_ _0\"></span> a customer in<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> for goods or serv<span class=\"_ _2\"></span>ices<span class=\"_ _0\"></span> trans<span class=\"_ _2\"></span>ferred.<span class=\"_ _0\"></span> Cont<span class=\"_ _2\"></span>ract assets are transferred to trade receivables when the entitlement to payment becomes unc<span class=\"_ _2\"></span>ondi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>onal an<span class=\"_ _2\"></span>d onl<span class=\"_ _2\"></span>y the p<span class=\"_ _2\"></span>ass<span class=\"_ _2\"></span>age of t<span class=\"_ _2\"></span>ime i<span class=\"_ _2\"></span>s requ<span class=\"_ _2\"></span>ired be<span class=\"_ _2\"></span>fore payment is due<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Financial assets <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> cost<span class=\"ff76 ls6 ws7\"> are financial assets that </span></span>are h<span class=\"_ _2\"></span>eld in o<span class=\"_ _2\"></span>rder to co<span class=\"_ _2\"></span>lle<span class=\"_ _2\"></span>ct t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s and t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual ter<span class=\"_ _2\"></span>ms gi<span class=\"_ _2\"></span>ve ri<span class=\"_ _2\"></span>se to ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>lows t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>re sole<span class=\"_ _2\"></span>ly pa<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s of principal and<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> These include: cash and<span class=\"_ _0\"></span> cash equivalent<span class=\"_ _2\"></span>s; r<span class=\"_ _0\"></span>eceivables; clearing member trading balances relating to<span class=\"_ _0\"></span> cer<span class=\"_ _2\"></span>tain collat<span class=\"_ _0\"></span>eralised transac<span class=\"_ _2\"></span>tions; and other receivables from clearing<span class=\"_ _0\"></span> member<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the CCP businesses. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls3\">Fin<span class=\"_ _2\"></span>ancia<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts at F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I \u2013 debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rume<span class=\"_ _2\"></span>nts</span><span class=\"ls6 ws7\"> are assets where </span>th<span class=\"_ _2\"></span>e obje<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive i<span class=\"_ _2\"></span>s achi<span class=\"_ _2\"></span>eved by b<span class=\"_ _2\"></span>oth c<span class=\"_ _2\"></span>olle<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual c<span class=\"_ _2\"></span>ash flow<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and selling the asset. The contractual cash f<span class=\"_ _2\"></span>lows r<span class=\"_ _0\"></span>eceived are solely payments of principal and<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> They include quoted de<span class=\"_ _0\"></span>bt instrument<span class=\"_ _2\"></span>s (pr<span class=\"_ _0\"></span>edominantly government bonds<span class=\"_ _0\"></span>) held by the<span class=\"_ _0\"></span> CCP businesses, which are used<span class=\"_ _0\"></span> under the business mo<span class=\"_ _2\"></span>del to bo<span class=\"_ _2\"></span>th co<span class=\"_ _2\"></span>llec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s and, o<span class=\"_ _2\"></span>n occ<span class=\"_ _2\"></span>asio<span class=\"_ _2\"></span>n, to pr<span class=\"_ _2\"></span>ofi<span class=\"_ _2\"></span>t fro<span class=\"_ _2\"></span>m the<span class=\"_ _2\"></span>ir sal<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span>Interest received<span class=\"_ _0\"></span> from CCP businesses\u2019<span class=\"_ _0\"></span> clearing member financial asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> is recognised in the<span class=\"_ _0\"></span> income statement as net treasury income. Where<span class=\"_ _0\"></span> negati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> interest rates apply<span class=\"_ _0\"></span>, the int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed as t<span class=\"_ _2\"></span>reas<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>y exp<span class=\"_ _2\"></span>ense w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin ne<span class=\"_ _2\"></span>t trea<span class=\"_ _2\"></span>sur<span class=\"_ _2\"></span>y inc<span class=\"_ _2\"></span>ome. A<span class=\"_ _2\"></span>ny accu<span class=\"_ _2\"></span>mula<span class=\"_ _2\"></span>ted pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t or lo<span class=\"_ _2\"></span>ss pre<span class=\"_ _2\"></span>viou<span class=\"_ _2\"></span>sly r<span class=\"_ _2\"></span>ecog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in other comprehens<span class=\"_ _0\"></span>ive income is r<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>ycled t<span class=\"_ _0\"></span>o the income st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent o<span class=\"_ _2\"></span>n derec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls7 wsa\">Financial assets at FVOCI \u2013<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y instruments<span class=\"ff76\"> are strategic </span></span>eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y in<span class=\"_ _2\"></span>vest<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h are hel<span class=\"_ _2\"></span>d for th<span class=\"_ _2\"></span>e long t<span class=\"_ _2\"></span>erm bu<span class=\"_ _2\"></span>t do no<span class=\"_ _2\"></span>t gi<span class=\"_ _2\"></span>ve th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p cont<span class=\"_ _2\"></span>rol or s<span class=\"_ _2\"></span>igni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t inf<span class=\"_ _2\"></span>lue<span class=\"_ _2\"></span>nce. Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has irrevocably elected to classify these invest<span class=\"_ _2\"></span>ments as FVOCI.<span class=\"_ _314\"> </span>Dividend<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> received from these inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tments are r<span class=\"_ _0\"></span>ecognised in the income statement as<span class=\"_ _0\"></span> income from equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ments when the right of r<span class=\"_ _0\"></span>eceipt has been established. Accumulat<span class=\"_ _0\"></span>ed gains or losses on equity ins<span class=\"_ _2\"></span>truments remain in<span class=\"_ _0\"></span> equi<span class=\"_ _2\"></span>ty on derecognition and are<span class=\"_ _0\"></span> not recycled through the income statement. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at FVPL</span><span class=\"ls6 ws7\"> include all other financial assets </span>not c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t or F<span class=\"_ _2\"></span>VOCI<span class=\"_ _2\"></span>. Th<span class=\"_ _2\"></span>ey incl<span class=\"_ _2\"></span>ude CC<span class=\"_ _2\"></span>P businesses\u2019 clearing<span class=\"_ _0\"></span> member trading balances including der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ves, a<span class=\"_ _2\"></span>s well a<span class=\"_ _2\"></span>s equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y and d<span class=\"_ _2\"></span>ebt in<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t are mar<span class=\"_ _2\"></span>ked to ma<span class=\"_ _2\"></span>rket on a da<span class=\"_ _2\"></span>ily b<span class=\"_ _2\"></span>asis<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-490": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>These financial assets are all r<span class=\"_ _0\"></span>ecognised at <span class=\"ff72 ls7 wsa\">fair value<span class=\"_ _0\"></span> through </span>other comprehensive inc<span class=\"_ _0\"></span>ome (F<span class=\"_ _2\"></span>V<span class=\"_ _0\"></span>OCI)<span class=\"ff71 ls3 ws3\">. S<span class=\"_ _2\"></span>ee not<span class=\"_ _2\"></span>e 17 for t<span class=\"_ _2\"></span>he </span>relevant ac<span class=\"_ _0\"></span>counting polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, specificall<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> in relation to<span class=\"_ _0\"></span>: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls7 wsa\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> instrumen<span class=\"_ _2\"></span>ts</span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff72 ls6 ws7\">Debt instruments<span class=\"_ _314\"> </span></span>Investment<span class=\"_ _2\"></span>s in equity inst<span class=\"_ _2\"></span>ruments and convertible debt instr<span class=\"_ _2\"></span>uments (e<span class=\"_ _0\"></span>xcluding listed instrument<span class=\"_ _2\"></span>s)<span class=\"_ _0\"></span> are classif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> as Level<span class=\"_ _0\"></span> 3 (of<span class=\"_ _0\"></span> the fair value hierarchy<span class=\"_ _0\"></span> describe<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> in the accounting policy of note 1<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>). Lis<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s are c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s Level 1<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>Recognition and<span class=\"_ _0\"></span> measurement<span class=\"_ _314\"> </span>Financial assets and financial liabilities<span class=\"ff76 ls7 wsa\"> are initially recognised at </span>fair value.<span class=\"_ _0\"></span> The Group classif<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s financial instrument<span class=\"_ _2\"></span>s at: amort<span class=\"_ _2\"></span>ised cost; fair value through other comprehens<span class=\"_ _0\"></span>ive income (F<span class=\"_ _2\"></span>V<span class=\"_ _0\"></span>OCI<span class=\"_ _2\"></span>); or f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue t<span class=\"_ _2\"></span>hroug<span class=\"_ _2\"></span>h prof<span class=\"_ _2\"></span>it o<span class=\"_ _2\"></span>r los<span class=\"_ _2\"></span>s (F<span class=\"_ _2\"></span>VP<span class=\"_ _2\"></span>L). Th<span class=\"_ _2\"></span>e clas<span class=\"_ _2\"></span>sif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on of financial asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> depends on the Group\u2019<span class=\"_ _0\"></span>s business model for<span class=\"_ _0\"></span> managing its f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments and whether or not<span class=\"_ _0\"></span> the cash flow<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> generated are \u201csolely payments of principal and<span class=\"_ _0\"></span> interest\u201d.<span class=\"_ _314\"> </span>Financial assets <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> cost<span class=\"ff76 ls6 ws7\"> are financial assets that </span></span>are h<span class=\"_ _2\"></span>eld in o<span class=\"_ _2\"></span>rder to co<span class=\"_ _2\"></span>lle<span class=\"_ _2\"></span>ct t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s and t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual ter<span class=\"_ _2\"></span>ms gi<span class=\"_ _2\"></span>ve ri<span class=\"_ _2\"></span>se to ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>lows t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>re sole<span class=\"_ _2\"></span>ly pa<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s of principal and<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> These include: cash and<span class=\"_ _0\"></span> cash equivalent<span class=\"_ _2\"></span>s; r<span class=\"_ _0\"></span>eceivables; clearing member trading balances relating to<span class=\"_ _0\"></span> cer<span class=\"_ _2\"></span>tain collat<span class=\"_ _0\"></span>eralised transac<span class=\"_ _2\"></span>tions; and other receivables from clearing<span class=\"_ _0\"></span> member<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the CCP businesses. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls3\">Fin<span class=\"_ _2\"></span>ancia<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts at F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I \u2013 debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rume<span class=\"_ _2\"></span>nts</span><span class=\"ls6 ws7\"> are assets where </span>th<span class=\"_ _2\"></span>e obje<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive i<span class=\"_ _2\"></span>s achi<span class=\"_ _2\"></span>eved by b<span class=\"_ _2\"></span>oth c<span class=\"_ _2\"></span>olle<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual c<span class=\"_ _2\"></span>ash flow<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and selling the asset. The contractual cash f<span class=\"_ _2\"></span>lows r<span class=\"_ _0\"></span>eceived are solely payments of principal and<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> They include quoted de<span class=\"_ _0\"></span>bt instrument<span class=\"_ _2\"></span>s (pr<span class=\"_ _0\"></span>edominantly government bonds<span class=\"_ _0\"></span>) held by the<span class=\"_ _0\"></span> CCP businesses, which are used<span class=\"_ _0\"></span> under the business mo<span class=\"_ _2\"></span>del to bo<span class=\"_ _2\"></span>th co<span class=\"_ _2\"></span>llec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s and, o<span class=\"_ _2\"></span>n occ<span class=\"_ _2\"></span>asio<span class=\"_ _2\"></span>n, to pr<span class=\"_ _2\"></span>ofi<span class=\"_ _2\"></span>t fro<span class=\"_ _2\"></span>m the<span class=\"_ _2\"></span>ir sal<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span>Interest received<span class=\"_ _0\"></span> from CCP businesses\u2019<span class=\"_ _0\"></span> clearing member financial asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> is recognised in the<span class=\"_ _0\"></span> income statement as net treasury income. Where<span class=\"_ _0\"></span> negati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> interest rates apply<span class=\"_ _0\"></span>, the int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed as t<span class=\"_ _2\"></span>reas<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>y exp<span class=\"_ _2\"></span>ense w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin ne<span class=\"_ _2\"></span>t trea<span class=\"_ _2\"></span>sur<span class=\"_ _2\"></span>y inc<span class=\"_ _2\"></span>ome. A<span class=\"_ _2\"></span>ny accu<span class=\"_ _2\"></span>mula<span class=\"_ _2\"></span>ted pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t or lo<span class=\"_ _2\"></span>ss pre<span class=\"_ _2\"></span>viou<span class=\"_ _2\"></span>sly r<span class=\"_ _2\"></span>ecog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in other comprehens<span class=\"_ _0\"></span>ive income is r<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>ycled t<span class=\"_ _0\"></span>o the income st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent o<span class=\"_ _2\"></span>n derec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls7 wsa\">Financial assets at FVOCI \u2013<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y instruments<span class=\"ff76\"> are strategic </span></span>eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y in<span class=\"_ _2\"></span>vest<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h are hel<span class=\"_ _2\"></span>d for th<span class=\"_ _2\"></span>e long t<span class=\"_ _2\"></span>erm bu<span class=\"_ _2\"></span>t do no<span class=\"_ _2\"></span>t gi<span class=\"_ _2\"></span>ve th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p cont<span class=\"_ _2\"></span>rol or s<span class=\"_ _2\"></span>igni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t inf<span class=\"_ _2\"></span>lue<span class=\"_ _2\"></span>nce. Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has irrevocably elected to classify these invest<span class=\"_ _2\"></span>ments as FVOCI.<span class=\"_ _314\"> </span>Dividend<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> received from these inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tments are r<span class=\"_ _0\"></span>ecognised in the income statement as<span class=\"_ _0\"></span> income from equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ments when the right of r<span class=\"_ _0\"></span>eceipt has been established. Accumulat<span class=\"_ _0\"></span>ed gains or losses on equity ins<span class=\"_ _2\"></span>truments remain in<span class=\"_ _0\"></span> equi<span class=\"_ _2\"></span>ty on derecognition and are<span class=\"_ _0\"></span> not recycled through the income statement. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at FVPL</span><span class=\"ls6 ws7\"> include all other financial assets </span>not c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t or F<span class=\"_ _2\"></span>VOCI<span class=\"_ _2\"></span>. Th<span class=\"_ _2\"></span>ey incl<span class=\"_ _2\"></span>ude CC<span class=\"_ _2\"></span>P businesses\u2019 clearing<span class=\"_ _0\"></span> member trading balances including der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ves, a<span class=\"_ _2\"></span>s well a<span class=\"_ _2\"></span>s equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y and d<span class=\"_ _2\"></span>ebt in<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t are mar<span class=\"_ _2\"></span>ked to ma<span class=\"_ _2\"></span>rket on a da<span class=\"_ _2\"></span>ily b<span class=\"_ _2\"></span>asis<span class=\"_ _314\"> </span><span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Financial liabilities <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial liabilities at FVPL</span><span class=\"ls6 ws7\"> include the CCP<span class=\"_ _0\"></span> businesses\u2019 </span>clearing member trading balances, including<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives, as wel<span class=\"_ _2\"></span>l as equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>at are ma<span class=\"_ _2\"></span>rked to ma<span class=\"_ _2\"></span>rket on a da<span class=\"_ _2\"></span>ily b<span class=\"_ _2\"></span>asis<span class=\"_ _2\"></span>. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial liabilities at amortised cost</span><span class=\"ls6 ws7\"> are all<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial </span>liabilities that are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> at F<span class=\"_ _2\"></span>VPL. They include pa<span class=\"_ _0\"></span>yables<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> borrowings and other payables to clearing members.<span class=\"_ _314\"> </span>Impairment<span class=\"_ _314\"> </span>The Group adopts a f<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>ward-<span class=\"_ _2\"></span>looking approach<span class=\"_ _0\"></span> to estimating impairment losses on financial assets. An expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> credit loss (E<span class=\"_ _2\"></span>CL) a<span class=\"_ _2\"></span>rise<span class=\"_ _2\"></span>s if th<span class=\"_ _2\"></span>e cas<span class=\"_ _2\"></span>h fl<span class=\"_ _2\"></span>ows t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to recei<span class=\"_ _2\"></span>ve are low<span class=\"_ _2\"></span>er tha<span class=\"_ _2\"></span>n the c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>tua<span class=\"_ _2\"></span>l cash f<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>ows du<span class=\"_ _2\"></span>e, or are d<span class=\"_ _2\"></span>elaye<span class=\"_ _2\"></span>d. The d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>fere<span class=\"_ _2\"></span>nce is di<span class=\"_ _2\"></span>scou<span class=\"_ _2\"></span>nted a<span class=\"_ _2\"></span>t the a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>\u2019s ori<span class=\"_ _2\"></span>gina<span class=\"_ _2\"></span>l ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve interest rate<span class=\"_ _0\"></span> and recognised as an<span class=\"_ _0\"></span> impairment of the original val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> cost<span class=\"ff76 ls3 ws3\"> \u2013 t<span class=\"_ _2\"></span>he ECL fo<span class=\"_ _2\"></span>r tr<span class=\"_ _2\"></span>ade </span></span>receivables (including fees<span class=\"_ _0\"></span> receivable), contract asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> lease receivables is<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>ved<span class=\"_ _0\"></span> using the simplif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> approach in I<span class=\"_ _2\"></span>FRS 9 <span class=\"ff78 ls3e ws5b\">Financial Inst<span class=\"_ _2\"></span>ruments</span> to cal<span class=\"_ _2\"></span>cula<span class=\"_ _2\"></span>te a lifet<span class=\"_ _2\"></span>ime E<span class=\"_ _2\"></span>CL.<span class=\"_ _2\"></span> The allowance<span class=\"_ _0\"></span> is based on historical experience o<span class=\"_ _0\"></span>f collect<span class=\"_ _2\"></span>ion ra<span class=\"_ _2\"></span>tes, a<span class=\"_ _2\"></span>djus<span class=\"_ _2\"></span>ted fo<span class=\"_ _2\"></span>r for<span class=\"_ _2\"></span>ward<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>loo<span class=\"_ _2\"></span>king f<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s spec<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ic to ea<span class=\"_ _2\"></span>ch counterpart<span class=\"_ _2\"></span>y and the economic<span class=\"_ _0\"></span> environment at large,<span class=\"_ _0\"></span> to creat<span class=\"_ _0\"></span>e an ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted l<span class=\"_ _2\"></span>oss m<span class=\"_ _2\"></span>atr<span class=\"_ _2\"></span>ix.<span class=\"_ _314\"> </span>The ECL on o<span class=\"_ _0\"></span>ther f<span class=\"_ _2\"></span>inancial assets held at<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tised cost is measured using<span class=\"_ _0\"></span> the general approach. An allowance<span class=\"_ _0\"></span> is ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated ba<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>n the 12-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>th EC<span class=\"_ _2\"></span>L at ea<span class=\"_ _2\"></span>ch repo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date unless there is<span class=\"_ _0\"></span> a signif<span class=\"_ _2\"></span>icant incr<span class=\"_ _0\"></span>ease in the financial instrumen<span class=\"_ _2\"></span>t\u2019<span class=\"_ _0\"></span>s cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>, in whi<span class=\"_ _2\"></span>ch ca<span class=\"_ _2\"></span>se a los<span class=\"_ _2\"></span>s allo<span class=\"_ _2\"></span>wanc<span class=\"_ _2\"></span>e base<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e lifet<span class=\"_ _2\"></span>ime<span class=\"_ _2\"></span> ECL is calculat<span class=\"_ _0\"></span>ed. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls3\">Fin<span class=\"_ _2\"></span>ancia<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts at F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I \u2013 debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rume<span class=\"_ _2\"></span>nts</span><span class=\"ls5 ws5\"> comprise </span>hig<span class=\"_ _2\"></span>h-<span class=\"_ _2\"></span>qu<span class=\"_ _2\"></span>ali<span class=\"_ _2\"></span>ty g<span class=\"_ _2\"></span>over<span class=\"_ _2\"></span>nmen<span class=\"_ _2\"></span>t bon<span class=\"_ _2\"></span>ds th<span class=\"_ _2\"></span>at have a l<span class=\"_ _2\"></span>ow cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk.<span class=\"_ _2\"></span> The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s p<span class=\"_ _2\"></span>olic<span class=\"_ _2\"></span>y is to c<span class=\"_ _2\"></span>alcu<span class=\"_ _2\"></span>late a 12-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>th EC<span class=\"_ _2\"></span>L on th<span class=\"_ _2\"></span>ese as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s. If t<span class=\"_ _2\"></span>here i<span class=\"_ _2\"></span>s a sign<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>nt inc<span class=\"_ _2\"></span>reas<span class=\"_ _2\"></span>e in cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk, t<span class=\"_ _2\"></span>hen a<span class=\"_ _2\"></span> li<span class=\"_ _2\"></span>fetim<span class=\"_ _2\"></span>e ECL w<span class=\"_ _2\"></span>ill b<span class=\"_ _2\"></span>e recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d. A si<span class=\"_ _2\"></span>gnif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant i<span class=\"_ _2\"></span>ncrea<span class=\"_ _2\"></span>se in cre<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span> ri<span class=\"_ _2\"></span>sk is con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>red to ha<span class=\"_ _2\"></span>ve occu<span class=\"_ _2\"></span>rred w<span class=\"_ _2\"></span>hen co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual p<span class=\"_ _2\"></span>aym<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s are m<span class=\"_ _2\"></span>ore th<span class=\"_ _2\"></span>an 30 da<span class=\"_ _2\"></span>ys pa<span class=\"_ _2\"></span>st du<span class=\"_ _2\"></span>e. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls7 wsa\">Financial assets at FVOCI \u2013<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y instruments<span class=\"ff76 ls3 ws3\"> and </span><span class=\"lsc ws6f\">f<span class=\"_ _2\"></span>inancial </span></span>ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s at FV<span class=\"_ _2\"></span>PL \u2013 <span class=\"ff76 ls6 ws7\">not subject to impairment.<span class=\"_ _314\"> </span></span>The Group writes off a financial asset when there<span class=\"_ _0\"></span> is no reasonable exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f recove<span class=\"_ _2\"></span>ring t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Of<span class=\"_ _2\"></span>fsettin<span class=\"_ _2\"></span>g<span class=\"_ _314\"> </span>Financial assets and financial liabilities are o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset and the net<span class=\"_ _0\"></span> amount reported in the balance<span class=\"_ _0\"></span> sheet when there is<span class=\"_ _0\"></span> a legally enforceable<span class=\"_ _0\"></span> right to offset the recognised amounts and there is an in<span class=\"_ _2\"></span>tent<span class=\"_ _2\"></span>ion to s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle o<span class=\"_ _2\"></span>n a net ba<span class=\"_ _2\"></span>sis, o<span class=\"_ _2\"></span>r to real<span class=\"_ _2\"></span>ise t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et and<span class=\"_ _2\"></span> sett<span class=\"_ _2\"></span>le the<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y simultaneously.<span class=\"_ _314\"> </span><div class=\"t m2 h4 ff75 fs1 fc1 sc0 ls19 ws36 gs4c0\">Fair value hierarchy<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2d0\">The Group uses<span class=\"_ _0\"></span> the following valuation hierarchy f<span class=\"_ _0\"></span>or determining </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2d1\">and disclosing the fair<span class=\"_ _0\"></span> value of financial instrument<span class=\"_ _2\"></span>s:</div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs4c1\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Level 1<span class=\"_ _2\"></span>: quot<span class=\"_ _2\"></span>ed (una<span class=\"_ _2\"></span>djus<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span>) pri<span class=\"_ _2\"></span>ces in a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive m<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s for </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4c2\">identical asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> or liabilities</div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs4c3\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls7 wsa\">Level<span class=\"_ _0\"></span> 2: other techniques for<span class=\"_ _0\"></span> which all input<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> which have </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4c4\">a sig<span class=\"_ _2\"></span>nif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>n the re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e are obs<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vab<span class=\"_ _2\"></span>le, </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4c5\">either direct<span class=\"_ _2\"></span>ly or<span class=\"_ _0\"></span> indirec<span class=\"_ _2\"></span>tly</div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs4c6\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls7 wsa\">Level<span class=\"_ _0\"></span> 3: techniques which use inputs, which have a significant </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4c7\">ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t on t<span class=\"_ _2\"></span>he reco<span class=\"_ _2\"></span>rde<span class=\"_ _2\"></span>d fair v<span class=\"_ _2\"></span>alue, t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>re not ba<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>n </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4c8\">obser<span class=\"_ _2\"></span>vable mark<span class=\"_ _0\"></span>et data<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2db\">Fo<span class=\"_ _2\"></span>r Level 1<span class=\"_ _2\"></span>, the f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue i<span class=\"_ _2\"></span>s base<span class=\"_ _2\"></span>d on mar<span class=\"_ _2\"></span>ket pri<span class=\"_ _2\"></span>ce quo<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ions<span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2dc\">at t<span class=\"_ _2\"></span>he rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2de\">For assets and liabilities classif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> as Level<span class=\"_ _0\"></span> 2, the fair value<span class=\"_ _0\"></span> is </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2df\">ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated us<span class=\"_ _2\"></span>ing on<span class=\"_ _2\"></span>e or mo<span class=\"_ _2\"></span>re valu<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on tech<span class=\"_ _2\"></span>niqu<span class=\"_ _2\"></span>es (e.g<span class=\"_ _2\"></span>., the<span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3ed\">market<span class=\"_ _0\"></span> approach or the income<span class=\"_ _0\"></span> approach) with market<span class=\"_ _0\"></span> obser<span class=\"_ _2\"></span>vable </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e0\">input<span class=\"_ _2\"></span>s. The<span class=\"_ _0\"></span> selec<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> the appropriate valuation techniques ma<span class=\"_ _0\"></span>y </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e1\">be affec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> by the availabilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> and reliability of the relevant inputs. </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e2\">The inputs may include currency rates, int<span class=\"_ _0\"></span>erest rates, forward rate </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3ee\">cur<span class=\"_ _2\"></span>ves, and<span class=\"_ _0\"></span> net asset values.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e4\">When obser<span class=\"_ _2\"></span>vable mark<span class=\"_ _0\"></span>et data is not<span class=\"_ _0\"></span> available, the Group uses<span class=\"_ _0\"></span> one </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls7 wsa gs2e5\">or more valuation techniques f<span class=\"_ _0\"></span>or which suf<span class=\"_ _2\"></span>ficient and reliable data </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e6\">is available.<span class=\"_ _0\"></span> The input<span class=\"_ _2\"></span>s used<span class=\"_ _0\"></span> in estimat<span class=\"_ _2\"></span>ing the<span class=\"_ _0\"></span> fair value of L<span class=\"_ _0\"></span>evel 3 </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e7\">financial inst<span class=\"_ _2\"></span>ruments t<span class=\"_ _2\"></span>ypically include expected timing and amount </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2e8\">of future cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>lows, timing of se<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>tlement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> discount rates and<span class=\"_ _0\"></span> the </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3ef\">net asset values<span class=\"_ _0\"></span> of certain invest<span class=\"_ _2\"></span>ments.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2ea\">The Group det<span class=\"_ _0\"></span>ermines whether a transfer between levels has </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2eb\">occurred by<span class=\"_ _0\"></span> reviewing the categorisation of assets and liabilities </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs25b\">at t<span class=\"_ _2\"></span>he end o<span class=\"_ _2\"></span>f each re<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ing pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d, bas<span class=\"_ _2\"></span>ed on t<span class=\"_ _2\"></span>he lo<span class=\"_ _2\"></span>west l<span class=\"_ _2\"></span>evel </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls7 wsa gs25c\">input that is signific<span class=\"_ _2\"></span>ant t<span class=\"_ _0\"></span>o the valuation.<span class=\"_ _314\"> </span></div><div class=\"t m2 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs25e\">Derivative financial instrument<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> hedging ac<span class=\"_ _2\"></span>tivities<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs25f\">De<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ves are i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue on t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs260\">a derivative contrac<span class=\"_ _2\"></span>t is<span class=\"_ _0\"></span> entered into<span class=\"_ _0\"></span> and are subsequently </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs261\">remeasured<span class=\"_ _0\"></span> to their fair value<span class=\"_ _0\"></span> at regular intervals. The method </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs262\">of rec<span class=\"_ _0\"></span>ognising any resulting measurement<span class=\"_ _0\"></span> gain or loss depends </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3d1\">on w<span class=\"_ _2\"></span>heth<span class=\"_ _2\"></span>er or n<span class=\"_ _2\"></span>ot the d<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>vat<span class=\"_ _2\"></span>ive i<span class=\"_ _2\"></span>s desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d as a he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs263\">instr<span class=\"_ _2\"></span>ument and<span class=\"_ _0\"></span> the nature of<span class=\"_ _0\"></span> the item being hedged.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs265\">The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p uses fo<span class=\"_ _2\"></span>reign e<span class=\"_ _2\"></span>xchang<span class=\"_ _2\"></span>e for<span class=\"_ _2\"></span>war<span class=\"_ _2\"></span>d cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to man<span class=\"_ _2\"></span>age i<span class=\"_ _2\"></span>ts </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs266\">fore<span class=\"_ _2\"></span>ign exch<span class=\"_ _2\"></span>ange r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>. It en<span class=\"_ _2\"></span>ters i<span class=\"_ _2\"></span>nto a se<span class=\"_ _2\"></span>ries o<span class=\"_ _2\"></span>f exchan<span class=\"_ _2\"></span>ge con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs267\">to purc<span class=\"_ _0\"></span>hase or sell certain currencies against sterling and US<span class=\"_ _0\"></span> </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gsc6\">do<span class=\"_ _2\"></span>llar<span class=\"_ _2\"></span>s in th<span class=\"_ _2\"></span>e fut<span class=\"_ _2\"></span>ure at f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d amou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has em<span class=\"_ _2\"></span>bed<span class=\"_ _2\"></span>ded </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gsc7\">foreign<span class=\"_ _0\"></span> currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives, primarily in re<span class=\"_ _0\"></span>venue contrac<span class=\"_ _2\"></span>ts where </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f5\">th<span class=\"_ _2\"></span>e cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t is d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>feren<span class=\"_ _2\"></span>t from t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>unc<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal or<span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f6\">local currencies of<span class=\"_ _0\"></span> the par<span class=\"_ _2\"></span>ties involved. The Group<span class=\"_ _0\"></span> records these </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f7\">derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments at fair value in<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _0\"></span> as either </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f8\">assets or liabilities.<span class=\"_ _314\"> </span></div>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p hedg<span class=\"_ _2\"></span>es a pro<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of i<span class=\"_ _2\"></span>ts n<span class=\"_ _2\"></span>et inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment i<span class=\"_ _2\"></span>n forei<span class=\"_ _2\"></span>gn subsidiaries by<span class=\"_ _0\"></span> designating some borrowings and derivative financial inst<span class=\"_ _2\"></span>ruments as net in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ment hedges. Any gain<span class=\"_ _0\"></span> or loss on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g ins<span class=\"_ _2\"></span>tru<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t relat<span class=\"_ _2\"></span>ing to t<span class=\"_ _2\"></span>he ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e hedge is rec<span class=\"_ _0\"></span>ognised in other comprehensive inc<span class=\"_ _0\"></span>ome and remains in the hedging r<span class=\"_ _0\"></span>eser<span class=\"_ _2\"></span>ve until disposal of<span class=\"_ _0\"></span> the subsidiar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>As par<span class=\"_ _2\"></span>t of<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s interest rate<span class=\"_ _0\"></span> management polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> (see note 17<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>5),<span class=\"_ _0\"></span> the Group enters into derivative financial inst<span class=\"_ _2\"></span>ruments to con<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>t a por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f it<span class=\"_ _2\"></span>s fi<span class=\"_ _2\"></span>xed ra<span class=\"_ _2\"></span>te debt i<span class=\"_ _2\"></span>nto f<span class=\"_ _2\"></span>loa<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g rate d<span class=\"_ _2\"></span>ebt<span class=\"_ _2\"></span>. These derivative inst<span class=\"_ _2\"></span>ruments have been design<span class=\"_ _0\"></span>ated as fair value he<span class=\"_ _2\"></span>dges<span class=\"_ _2\"></span>. The c<span class=\"_ _2\"></span>arr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing v<span class=\"_ _2\"></span>alue of t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item i<span class=\"_ _2\"></span>s adju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d for fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue chan<span class=\"_ _2\"></span>ges a<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>able to t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk bei<span class=\"_ _2\"></span>ng he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d, wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he corresponding entr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> recorded in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>. Changes in fair value<span class=\"_ _0\"></span> of the derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments are also recognised in<span class=\"_ _0\"></span> the income statement<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In o<span class=\"_ _2\"></span>rder to q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>y for he<span class=\"_ _2\"></span>dge ac<span class=\"_ _2\"></span>count<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>, a tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t meet str<span class=\"_ _2\"></span>ict criteria regar<span class=\"_ _0\"></span>ding documentat<span class=\"_ _2\"></span>ion, e<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fecti<span class=\"_ _2\"></span>veness, pr<span class=\"_ _0\"></span>obabilit<span class=\"_ _2\"></span>y of occurrenc<span class=\"_ _0\"></span>e and reliability of measurement. W<span class=\"_ _0\"></span>e document the relationship between hedging instrument<span class=\"_ _2\"></span>s and hedged items<span class=\"_ _0\"></span> at the inception of<span class=\"_ _0\"></span> the tr<span class=\"_ _2\"></span>ansaction, as well as<span class=\"_ _0\"></span> document<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> the risk management object<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> and st<span class=\"_ _2\"></span>rategy f<span class=\"_ _0\"></span>or under<span class=\"_ _2\"></span>taking various hedging transac<span class=\"_ _2\"></span>tions. The effect<span class=\"_ _2\"></span>iveness of<span class=\"_ _0\"></span> the hedge is tested at each r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date and<span class=\"_ _0\"></span> at the commencement and<span class=\"_ _0\"></span> conclusion of an<span class=\"_ _2\"></span>y hedg<span class=\"_ _2\"></span>e in ord<span class=\"_ _2\"></span>er to ver<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>y t<span class=\"_ _2\"></span>hat it c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>inue<span class=\"_ _2\"></span>s to sat<span class=\"_ _2\"></span>isf<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>ll th<span class=\"_ _2\"></span>e cr<span class=\"_ _2\"></span>iter<span class=\"_ _2\"></span>ia for he<span class=\"_ _2\"></span>dge a<span class=\"_ _2\"></span>ccoun<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g. An<span class=\"_ _2\"></span>y inef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive po<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is recognised in<span class=\"_ _0\"></span> the income statement as finance income or expense.<span class=\"_ _314\"> </span>Amount<span class=\"_ _2\"></span>s that<span class=\"_ _0\"></span> have accumulat<span class=\"_ _0\"></span>ed through other comprehensive income in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> are recognised in<span class=\"_ _0\"></span> the income st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent in t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d whe<span class=\"_ _2\"></span>n the h<span class=\"_ _2\"></span>edge<span class=\"_ _2\"></span>d ite<span class=\"_ _2\"></span>m af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ts p<span class=\"_ _2\"></span>rof<span class=\"_ _2\"></span>it or<span class=\"_ _2\"></span> los<span class=\"_ _2\"></span>s (fo<span class=\"_ _2\"></span>r examp<span class=\"_ _2\"></span>le, wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e forec<span class=\"_ _2\"></span>ast t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>nsac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion th<span class=\"_ _2\"></span>at is he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d takes plac<span class=\"_ _0\"></span>e). When a<span class=\"_ _0\"></span> hedging ins<span class=\"_ _2\"></span>trument expires<span class=\"_ _0\"></span> or is sold, or when a hedge no<span class=\"_ _0\"></span> longer meets the criteria for hedge ac<span class=\"_ _0\"></span>counting<span class=\"_ _2\"></span>, any cumulative gain<span class=\"_ _0\"></span> or loss remains in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>: it is only recognised<span class=\"_ _0\"></span> in the income statement when the f<span class=\"_ _0\"></span>orecas<span class=\"_ _2\"></span>t transac<span class=\"_ _2\"></span>tion itself is ultimately recognised in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>. Wh<span class=\"_ _2\"></span>en a fore<span class=\"_ _2\"></span>cas<span class=\"_ _2\"></span>t tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>s no lon<span class=\"_ _2\"></span>ger ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>o occur, the cumulative gain or<span class=\"_ _0\"></span> loss that was reported through other comprehensive inc<span class=\"_ _0\"></span>ome is immediately recognised<span class=\"_ _0\"></span> in the income statement.<span class=\"_ _314\"> </span>The g<span class=\"_ _2\"></span>ain or l<span class=\"_ _2\"></span>oss o<span class=\"_ _2\"></span>n a der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>e whic<span class=\"_ _2\"></span>h is not d<span class=\"_ _2\"></span>esig<span class=\"_ _2\"></span>nate<span class=\"_ _2\"></span>d as a hedging instr<span class=\"_ _2\"></span>ument<span class=\"_ _0\"></span> is recognised directly in the income statement<span class=\"_ _314\"> </span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-491": {
   "value": "<div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws65 gs2e9\">Fo<span class=\"_ _2\"></span>r <span class=\"ff75 ls7 wsa\">defined contribution schemes</span><span class=\"ls6 ws7\">,<span class=\"_ _0\"></span> the operat<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> charge </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2ea\">represents the contributions payable in the year<span class=\"_ _0\"></span> and is recognised </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2eb\">in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> as incurred.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs25c\">Fo<span class=\"_ _2\"></span>r the <span class=\"ff75 ls7 wsa\">def<span class=\"_ _2\"></span>ined benefit schemes</span><span class=\"ls6 ws7\">, the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> expense </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs25d\">is allocated between serv<span class=\"_ _2\"></span>ice<span class=\"_ _0\"></span> cost<span class=\"_ _2\"></span>, administrati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> fees and ne<span class=\"_ _0\"></span>t </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs25e\">finance expense. The service cost represents benefit<span class=\"_ _2\"></span>s accruing </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs25f\">to employees<span class=\"_ _0\"></span> and is included as<span class=\"_ _0\"></span> an operating expense.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs261\">Cost<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> future employee benefit<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e accrued over<span class=\"_ _0\"></span> the period in </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2ed\">which employees earn<span class=\"_ _0\"></span> the benef<span class=\"_ _2\"></span>its. Scheme obligations and costs </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2ee\">are det<span class=\"_ _0\"></span>ermined on a regular<span class=\"_ _0\"></span> basis by an<span class=\"_ _0\"></span> independent qualif<span class=\"_ _2\"></span>ied </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2ef\">actuar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, in line with IAS 19 <span class=\"ff78 ls4 ws80\">Employee Benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span><span class=\"ff76 ls3 ws3\">, u<span class=\"_ _2\"></span>sing t<span class=\"_ _2\"></span>he pro<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span> </span></span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls5 ws5 gs2f0\">unit credit me<span class=\"_ _0\"></span>tho<span class=\"_ _2\"></span>d.<span class=\"_ _0\"></span> The obligations are<span class=\"_ _0\"></span> measured by<span class=\"_ _0\"></span> discounting </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f1\">th<span class=\"_ _2\"></span>e bes<span class=\"_ _2\"></span>t es<span class=\"_ _2\"></span>tim<span class=\"_ _2\"></span>ate of fu<span class=\"_ _2\"></span>ture c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s to be p<span class=\"_ _2\"></span>aid ou<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e sche<span class=\"_ _2\"></span>me </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs37e\">and are<span class=\"_ _0\"></span> reflec<span class=\"_ _2\"></span>ted in<span class=\"_ _0\"></span> the Group balance sheet.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f3\">Net interest is<span class=\"_ _0\"></span> recognised within net finance costs<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> calculated by </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f4\">applyin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> a discount rate<span class=\"_ _0\"></span> to the net de<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>ined benefit asset or liability </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs2f5\">at the star<span class=\"_ _2\"></span>t of<span class=\"_ _0\"></span> each annual r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting period. The discount rate </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f6\">use<span class=\"_ _2\"></span>d is ba<span class=\"_ _2\"></span>sed on m<span class=\"_ _2\"></span>arket i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st ra<span class=\"_ _2\"></span>tes of hi<span class=\"_ _2\"></span>gh<span class=\"_ _2\"></span>-q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, f<span class=\"_ _2\"></span>ixed<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rate </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f7\">deb<span class=\"_ _2\"></span>t sec<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ties a<span class=\"_ _2\"></span>dju<span class=\"_ _2\"></span>sted t<span class=\"_ _2\"></span>o ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e dura<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted fu<span class=\"_ _2\"></span>ture<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs2f8\">ca<span class=\"_ _2\"></span>sh out<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s for p<span class=\"_ _2\"></span>ensi<span class=\"_ _2\"></span>on ben<span class=\"_ _2\"></span>efi<span class=\"_ _2\"></span>t pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span><span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span> </div>The net r<span class=\"_ _0\"></span>etirement benefit asset or liability recognised on the balance sheet<span class=\"_ _0\"></span> comprises the dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ence between the present value of pension<span class=\"_ _0\"></span> obligations and the fair value of<span class=\"_ _0\"></span> scheme assets.<span class=\"_ _314\"> </span>Actuarial gains and losses ar<span class=\"_ _0\"></span>e recognised at<span class=\"_ _0\"></span> each repor<span class=\"_ _2\"></span>ting date,<span class=\"_ _0\"></span> net of tax, in the statement of<span class=\"_ _0\"></span> comprehensive income. These gains and<span class=\"_ _0\"></span> losses arise from experience<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tments<span class=\"_ _2\"></span>, changes in actuarial assumptions or differences between actual and e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d retur<span class=\"_ _2\"></span>ns on a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-545": {
   "value": "Fo<span class=\"_ _2\"></span>r <span class=\"ff75 ls7 wsa\">defined contribution schemes</span><span class=\"ls6 ws7\">,<span class=\"_ _0\"></span> the operat<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> charge </span>represents the contributions payable in the year<span class=\"_ _0\"></span> and is recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> as incurred.<span class=\"_ _314\"> </span>Define<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> contribution schemes Defined contribu<span class=\"_ _2\"></span>tion schemes<span class=\"_ _0\"></span> are savings plans that pro<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>ide<span class=\"_ _0\"></span> for matching c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ributions from the Group.<span class=\"_ _0\"></span> Mos<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> new employees joining the Group are<span class=\"_ _0\"></span> eligible to part<span class=\"_ _2\"></span>icipat<span class=\"_ _0\"></span>e in these schemes. The<span class=\"_ _0\"></span> main scheme wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>s the Lo<span class=\"_ _2\"></span>ndo<span class=\"_ _2\"></span>n Stock E<span class=\"_ _2\"></span>xcha<span class=\"_ _2\"></span>nge G<span class=\"_ _2\"></span>roup Pe<span class=\"_ _2\"></span>nsio<span class=\"_ _2\"></span>n Plan",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDefinedContributionPlansExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-546": {
   "value": "Fo<span class=\"_ _2\"></span>r the <span class=\"ff75 ls7 wsa\">def<span class=\"_ _2\"></span>ined benefit schemes</span><span class=\"ls6 ws7\">, the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> expense </span>is allocated between serv<span class=\"_ _2\"></span>ice<span class=\"_ _0\"></span> cost<span class=\"_ _2\"></span>, administrati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> fees and ne<span class=\"_ _0\"></span>t finance expense. The service cost represents benefit<span class=\"_ _2\"></span>s accruing to employees<span class=\"_ _0\"></span> and is included as<span class=\"_ _0\"></span> an operating expense.<span class=\"_ _314\"> </span>Cost<span class=\"_ _2\"></span>s of<span class=\"_ _0\"></span> future employee benefit<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e accrued over<span class=\"_ _0\"></span> the period in which employees earn<span class=\"_ _0\"></span> the benef<span class=\"_ _2\"></span>its. Scheme obligations and costs are det<span class=\"_ _0\"></span>ermined on a regular<span class=\"_ _0\"></span> basis by an<span class=\"_ _0\"></span> independent qualif<span class=\"_ _2\"></span>ied actuar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, in line with IAS 19 <span class=\"ff78 ls4 ws80\">Employee Benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span><span class=\"ff76 ls3 ws3\">, u<span class=\"_ _2\"></span>sing t<span class=\"_ _2\"></span>he pro<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span> </span></span>unit credit me<span class=\"_ _0\"></span>tho<span class=\"_ _2\"></span>d.<span class=\"_ _0\"></span> The obligations are<span class=\"_ _0\"></span> measured by<span class=\"_ _0\"></span> discounting th<span class=\"_ _2\"></span>e bes<span class=\"_ _2\"></span>t es<span class=\"_ _2\"></span>tim<span class=\"_ _2\"></span>ate of fu<span class=\"_ _2\"></span>ture c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s to be p<span class=\"_ _2\"></span>aid ou<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e sche<span class=\"_ _2\"></span>me and are<span class=\"_ _0\"></span> reflec<span class=\"_ _2\"></span>ted in<span class=\"_ _0\"></span> the Group balance sheet.<span class=\"_ _314\"> </span>Net interest is<span class=\"_ _0\"></span> recognised within net finance costs<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> calculated by applyin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> a discount rate<span class=\"_ _0\"></span> to the net de<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>ined benefit asset or liability at the star<span class=\"_ _2\"></span>t of<span class=\"_ _0\"></span> each annual r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting period. The discount rate use<span class=\"_ _2\"></span>d is ba<span class=\"_ _2\"></span>sed on m<span class=\"_ _2\"></span>arket i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st ra<span class=\"_ _2\"></span>tes of hi<span class=\"_ _2\"></span>gh<span class=\"_ _2\"></span>-q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, f<span class=\"_ _2\"></span>ixed<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>rate deb<span class=\"_ _2\"></span>t sec<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ties a<span class=\"_ _2\"></span>dju<span class=\"_ _2\"></span>sted t<span class=\"_ _2\"></span>o ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e dura<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted fu<span class=\"_ _2\"></span>ture<span class=\"_ _2\"></span> ca<span class=\"_ _2\"></span>sh out<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s for p<span class=\"_ _2\"></span>ensi<span class=\"_ _2\"></span>on ben<span class=\"_ _2\"></span>efi<span class=\"_ _2\"></span>t pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span><span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span> The net r<span class=\"_ _0\"></span>etirement benefit asset or liability recognised on the balance sheet<span class=\"_ _0\"></span> comprises the dif<span class=\"_ _2\"></span>fer<span class=\"_ _0\"></span>ence between the present value of pension<span class=\"_ _0\"></span> obligations and the fair value of<span class=\"_ _0\"></span> scheme assets.<span class=\"_ _314\"> </span>Actuarial gains and losses ar<span class=\"_ _0\"></span>e recognised at<span class=\"_ _0\"></span> each repor<span class=\"_ _2\"></span>ting date,<span class=\"_ _0\"></span> net of tax, in the statement of<span class=\"_ _0\"></span> comprehensive income. These gains and<span class=\"_ _0\"></span> losses arise from experience<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tments<span class=\"_ _2\"></span>, changes in actuarial assumptions or differences between actual and e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d retur<span class=\"_ _2\"></span>ns on a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s. <span class=\"_ _2\"></span>Significant accounting judgement<span class=\"_ _314\"> </span>Recognition of a pension surplus<span class=\"_ _314\"> </span>The Group judges that, on the gradual<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement of the<span class=\"_ _0\"></span> def<span class=\"_ _2\"></span>ined benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> schemes, it can expect any remaining pension<span class=\"_ _0\"></span> surplus to be ref<span class=\"_ _2\"></span>und<span class=\"_ _2\"></span>ed in f<span class=\"_ _2\"></span>ull to t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up. In l<span class=\"_ _2\"></span>ine w<span class=\"_ _2\"></span>ith t<span class=\"_ _2\"></span>he cu<span class=\"_ _2\"></span>rren<span class=\"_ _2\"></span>t accou<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ng standards, it therefore<span class=\"_ _0\"></span> continues to recognise<span class=\"_ _0\"></span> these retirement benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s on<span class=\"_ _0\"></span> the balance sheet in<span class=\"_ _0\"></span> full. <span class=\"_ _2\"></span>Significant accounting estimates and<span class=\"_ _0\"></span> assumptions<span class=\"_ _314\"> </span>Net present value of<span class=\"_ _0\"></span> pension asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and liabilities<span class=\"_ _314\"> </span>Defined benef<span class=\"_ _2\"></span>it pension<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are determined based<span class=\"_ _0\"></span> on the present<span class=\"_ _0\"></span> value of future<span class=\"_ _0\"></span> pension obligations<span class=\"_ _0\"></span> using assumptions determined by<span class=\"_ _0\"></span> the Group with adv<span class=\"_ _2\"></span>ice<span class=\"_ _0\"></span> from an independent qualif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> ac<span class=\"_ _2\"></span>tuary. An actuarial valuation involves<span class=\"_ _0\"></span> making various as<span class=\"_ _2\"></span>sump<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t may di<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fer fro<span class=\"_ _2\"></span>m what a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>uall<span class=\"_ _2\"></span>y hap<span class=\"_ _2\"></span>pens i<span class=\"_ _2\"></span>n the future.<span class=\"_ _314\"> </span><div class=\"t m2 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs383\">Define<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it schemes </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs384\">Defined benef<span class=\"_ _2\"></span>it schemes<span class=\"_ _0\"></span> provide pension and other post-retirement </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs385\">benefi<span class=\"_ _2\"></span>ts for<span class=\"_ _0\"></span> covered employees.<span class=\"_ _0\"></span> Benef<span class=\"_ _2\"></span>its are payable generally based </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs386\">on s<span class=\"_ _2\"></span>alar<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d year<span class=\"_ _2\"></span>s of ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice, a<span class=\"_ _2\"></span>lt<span class=\"_ _2\"></span>houg<span class=\"_ _2\"></span>h each p<span class=\"_ _2\"></span>lan ha<span class=\"_ _2\"></span>s a uniq<span class=\"_ _2\"></span>ue </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs387\">benefi<span class=\"_ _2\"></span>ts formula.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs388\">Except when r<span class=\"_ _0\"></span>equired by law<span class=\"_ _0\"></span>, vir<span class=\"_ _2\"></span>tually all<span class=\"_ _0\"></span> def<span class=\"_ _2\"></span>ined<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it schemes </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs389\">are closed<span class=\"_ _0\"></span> to new employees.<span class=\"_ _0\"></span> All schemes are gov<span class=\"_ _0\"></span>erned by the local </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs38a\">reg<span class=\"_ _2\"></span>ulato<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y fra<span class=\"_ _2\"></span>mewor<span class=\"_ _2\"></span>k and e<span class=\"_ _2\"></span>mplo<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nt law<span class=\"_ _2\"></span>s in th<span class=\"_ _2\"></span>e coun<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>y in w<span class=\"_ _2\"></span>hich<span class=\"_ _2\"></span> </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs38b\">they operate.<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs38c\">The Group\u2019<span class=\"_ _0\"></span>s largest defined benefit plans are in<span class=\"_ _0\"></span> the UK and together are </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs38d\">in a ne<span class=\"_ _0\"></span>t surplus position. The most signif<span class=\"_ _2\"></span>icant defined benefit schemes </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs38e\">(col<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vel<span class=\"_ _2\"></span>y referre<span class=\"_ _2\"></span>d to as t<span class=\"_ _2\"></span>he \u201cL<span class=\"_ _2\"></span>arge U<span class=\"_ _2\"></span>K\u201d sc<span class=\"_ _2\"></span>heme<span class=\"_ _2\"></span>s) are:</div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs38f\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls10 ws20\">The Re<span class=\"_ _0\"></span>uters Pension F<span class=\"_ _0\"></span>und (RPF<span class=\"_ _2\"></span>)</span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs390\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The Reuters Supplementar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> Pension Scheme (SPS)</span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs391\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls10 ws20\">The L<span class=\"_ _0\"></span>ondon Stock<span class=\"_ _0\"></span> E<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span>change Group P<span class=\"_ _0\"></span>ension Scheme<span class=\"_ _0\"></span> (LS<span class=\"_ _2\"></span>EGPS):</span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs392\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">LS<span class=\"_ _2\"></span>E Sec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of L<span class=\"_ _2\"></span>SEG<span class=\"_ _2\"></span>PS (<span class=\"_ _2\"></span>prev<span class=\"_ _2\"></span>iou<span class=\"_ _2\"></span>sly t<span class=\"_ _2\"></span>he Lond<span class=\"_ _2\"></span>on Sto<span class=\"_ _2\"></span>ck E<span class=\"_ _2\"></span>xchang<span class=\"_ _2\"></span>e </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs393\">Retirement Plan<span class=\"_ _0\"></span>)</div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs394\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">LCH Se<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion of L<span class=\"_ _2\"></span>SEG<span class=\"_ _2\"></span>PS (<span class=\"_ _2\"></span>prev<span class=\"_ _2\"></span>iou<span class=\"_ _2\"></span>sly t<span class=\"_ _2\"></span>he LCH Pen<span class=\"_ _2\"></span>sion S<span class=\"_ _2\"></span>chem<span class=\"_ _2\"></span>e)<span class=\"_ _314\"> </span></span></div><div class=\"t m2 h4 ff75 fs1 fc2 sc0 ls22 ws3 gs395\">12<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span>1 Am<span class=\"_ _2\"></span>ount<span class=\"_ _2\"></span>s recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d in the in<span class=\"_ _2\"></span>come st<span class=\"_ _2\"></span>ateme<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span></div><div class=\"gs396\"><table class=\"s w58f h25e\" id=\"_fadeaf09-0772-457a-94e4-67dc00557111\"><tr><td></td><td></td><td class=\"c n x4c5 y2294 w26f h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2294 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4c7 y2295 w33 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c8 y2295 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c9 y2295 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2286 w590 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Defined contribu<span class=\"_ _2\"></span>tion schemes<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x961 y2286 w591 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">90<span class=\"_ _314\"> </span></div></td><td class=\"c n x962 y2286 w592 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">87<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y2296 ff76 fs129 fc1 sc0 ls6c ws7e\">Defined benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> schemes \u2013 current/past </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2297 w593 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">ser<span class=\"_ _2\"></span>vice<span class=\"_ _0\"></span> cost<span class=\"_ _2\"></span>, curtailment and expenses<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x963 y2297 w594 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">30<span class=\"_ _314\"> </span></div></td><td class=\"c n x946 y2297 w410 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w595 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Pen<span class=\"_ _2\"></span>sion c<span class=\"_ _2\"></span>ost<span class=\"_ _2\"></span>s re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d in st<span class=\"_ _2\"></span>af<span class=\"_ _2\"></span>f cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x964 y2288 w596 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">4.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x965 y2288 w597 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">120<span class=\"_ _314\"> </span></div></td><td class=\"c n x966 y2288 w32d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">100<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w598 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Net inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x967 y228f w27a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">5<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x968 y228f w599 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">(5)<span class=\"_ _314\"> </span></div></td><td class=\"c n x969 y228f w56 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(4)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m2 x96a h187 y2298 ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></td><td class=\"t m2 x942 h193 y2299 ff76 fs129 fc1 sc0 lsee ws55\">96<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m2 h4 ff75 fs1 fc2 sc0 ls2 ws2 gs397\">12.<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span> Amount<span class=\"_ _2\"></span>s recognised<span class=\"_ _0\"></span> in other comprehensive inc<span class=\"_ _0\"></span>ome </div><div class=\"t m2 h4 ff75 fs1 fc2 sc0 ls51 ws73 gs398\">in respect of retirement<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it<span class=\"_ _0\"></span> schemes<span class=\"_ _314\"> </span></div><div class=\"gs399\"><table class=\"s w59a h25f\" id=\"_18eeb029-5480-4cbc-a6ab-621ec7d68780\"><tr><td></td><td></td><td class=\"c n x4c5 y229a w26f h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y229a w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x68d y229b w218 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x68e y229b w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x68f y229b w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215b w342 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x96b y215b w59b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">(301)<span class=\"_ _314\"> </span></div></td><td class=\"c n x96c y215b w59c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(298)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y229c ff76 fs129 fc1 sc0 ls76 ws5\">Actuarial gains/(los<span class=\"_ _2\"></span>ses<span class=\"_ _0\"></span>) recognised </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2068 w59d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">in t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></div></td><td class=\"c n x96d y2068 wc6 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">12.<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x96e y2068 w8c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsab wsd4\">64<span class=\"_ _314\"> </span></div></td><td class=\"c n x96f y2068 w407 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x970 y2069 w59e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">(237)<span class=\"_ _314\"> </span></div></td><td class=\"c n x971 y2069 w59f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws5\"><span class=\"ws9f\"><span class=\"ff76 ls88 wsb4\">(301<span class=\"_ _314\"> </span></span></span><span class=\"ws9f\"><span class=\"ff76 ls88 wsb4\">)<span class=\"_ _314\"> </span></span></span></div></td></tr></table></div>Fair v<span class=\"_ _2\"></span>alue of t<span class=\"_ _2\"></span>he asse<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d pres<span class=\"_ _2\"></span>ent val<span class=\"_ _2\"></span>ue of the l<span class=\"_ _2\"></span>iabil<span class=\"_ _2\"></span>itie<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e Larg<span class=\"_ _2\"></span>e UK sch<span class=\"_ _2\"></span>emes<span class=\"_ _314\"> </span>The amounts included in the balance<span class=\"_ _0\"></span> sheet arising from<span class=\"_ _0\"></span> the Group\u2019s obligations in respect of the Large<span class=\"_ _0\"></span> UK schemes are as<span class=\"_ _0\"></span> follows:<span class=\"_ _314\"> </span><table class=\"s w5ad h262\" id=\"_183352a1-c008-4b12-b2c8-cd5f49c30845\"><tr><td></td><td></td><td></td><td class=\"t m0 x981 h13 y22a6 ff75 fs6 fc1 sc0 ls110 ws7\">Net surplus/<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"c n x982 y22a7 w5ae h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws125\">Asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x983 y22a7 w5af h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws125\">Liabilities</div></td><td class=\"t m0 x984 h13 y22a8 ff75 fs6 fc1 sc0 ls66 ws8d\">(deficit)<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"c n x985 y22a9 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x986 y22a9 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x987 y22a9 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y22aa w12c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x988 y22aa w6d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls67 ws61\">2,<span class=\"_ _2\"></span>33<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x989 y22aa w5b0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb4 wse2\">(<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>74<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x98a y22aa w5b1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa7 wsd3\">157<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22ab ff76 fs129 fc1 sc0 ls89 wsda\">Pension<span class=\"_ _0\"></span> (expense)/income </td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x6bc h193 y22ac ff76 fs129 fc1 sc0 ls76 ws5\">recognised in the<span class=\"_ _0\"></span> income statement</td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x683 h193 y22ad ff76 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Pas<span class=\"_ _2\"></span>t/current service cost</span><span class=\"ls6c ws7e\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y22ae w5b2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">and administrati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> fees<span class=\"_ _314\"> </span></div></td><td class=\"c n x98b y22ae w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x98c y22ae w19f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsac wsd7\">(8)<span class=\"_ _314\"> </span></div></td><td class=\"c n x98d y22ae w19f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsac wsd7\">(8)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22af w5b3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income/(c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t)<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x98e y22af w5b4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">1<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td><td class=\"c n x98f y22af w5b5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">(96)<span class=\"_ _314\"> </span></div></td><td class=\"c n x990 y22af w5b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22b0 ff76 fs129 fc1 sc0 ls89 wsda\">Remeasur<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> recognised </td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x6bc h193 y22b1 ff76 fs129 fc1 sc0 ls6c ws7e\">in other c<span class=\"_ _0\"></span>omprehensive income<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y22b5 w5b7 h263\"><div class=\"t m0 x1e4 h193 y22b2 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">M<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ent on p<span class=\"_ _2\"></span>lan a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>,<span class=\"_ _314\"> </span></span></div><div class=\"t m0 x67d h193 y22b3 ff76 fs129 fc1 sc0 ls76 ws5\">excluding<span class=\"_ _0\"></span> interest income,<span class=\"_ _314\"> </span></div><div class=\"t m0 x67d h193 y22b4 ff76 fs129 fc1 sc0 ls76 ws5\">recognised in o<span class=\"_ _0\"></span>th<span class=\"_ _2\"></span>er<span class=\"_ _314\"> </span></div><div class=\"t m0 x67d h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x991 y22b5 w16f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls75 ws9e\">(2<span class=\"_ _0\"></span>48)<span class=\"_ _314\"> </span></div></td><td class=\"c n x992 y22b5 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x993 y22b5 w16f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls75 ws9e\">(2<span class=\"_ _0\"></span>48)</div></td></tr><tr><td class=\"t m0 x683 h193 y22b6 ff76 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Ac<span class=\"_ _2\"></span>tuarial gains</span><span class=\"ls76 ws5\"><span class=\"_ _0\"></span> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y22b7 w5b8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">\u2013 financial assumptions<span class=\"_ _314\"> </span></div></td><td class=\"c n x994 y22b7 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x995 y22b7 w231 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">222<span class=\"_ _314\"> </span></div></td><td class=\"c n x603 y22b7 w231 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">222</div></td></tr><tr><td class=\"t m0 x683 h193 y22b8 ff76 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Ac<span class=\"_ _2\"></span>tuarial gains</span><span class=\"ls76 ws5\"><span class=\"_ _0\"></span> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y22b9 w5b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u2013 demographic<span class=\"_ _0\"></span> assumptions<span class=\"_ _314\"> </span></div></td><td class=\"c n x996 y22b9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x997 y22b9 w5b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td><td class=\"c n x998 y22b9 w5b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x68a y22ba w33b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Employer<span class=\"_ _0\"></span> contribut<span class=\"_ _2\"></span>ions</div><div class=\"t m0 x5f6 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x999 y22ba w9d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td><td class=\"c n x99a y22ba w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x99b y22ba w5b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y22bb w5ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Benefi<span class=\"_ _2\"></span>ts paid<span class=\"_ _314\"> </span></div></td><td class=\"c n x99c y22bb w5bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(108)<span class=\"_ _314\"> </span></div></td><td class=\"c n x99d y22bb w53e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">108<span class=\"_ _314\"> </span></div></td><td class=\"c n x99e y22bb w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y22bc w303 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x99f y22bc w474 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a0 y22bc w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a1 y22bc w5bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22bd ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></td><td class=\"c n x9a2 y22be w5bd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">2,08<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a3 y22be w5be h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">(1,940)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a4 y22be w5bf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">1<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22bf ff76 fs129 fc1 sc0 ls89 wsda\">Pension<span class=\"_ _0\"></span> (expense)/income </td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x6bc h193 y22c0 ff76 fs129 fc1 sc0 ls76 ws5\">recognised in the<span class=\"_ _0\"></span> income statement</td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x683 h193 y22c1 ff76 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Pas<span class=\"_ _2\"></span>t/current service cost</span><span class=\"ls6c ws7e\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y22c2 w5b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">and administrati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> fees<span class=\"_ _314\"> </span></div></td><td class=\"c n x98b y22c2 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a5 y22c2 w3e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsea ws113\">(7)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a6 y22c2 w3e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsea ws113\">(7)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22c3 w5b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Interest income/(c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t)<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9a7 y22c3 w1fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">107<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a8 y22c3 w5c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">(99)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a9 y22c3 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22c4 ff76 fs129 fc1 sc0 ls89 wsda\">Remeasur<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> recognised </td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x6bc h193 y22c5 ff76 fs129 fc1 sc0 ls6c ws7e\">in other c<span class=\"_ _0\"></span>omprehensive income<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y22c8 w5b7 h264\"><div class=\"t m0 x1e4 h193 y22c6 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">M<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ent on p<span class=\"_ _2\"></span>lan a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>,<span class=\"_ _314\"> </span></span></div><div class=\"t m0 x67d h193 y22c7 ff76 fs129 fc1 sc0 ls76 ws5\">excluding<span class=\"_ _0\"></span> interest income,<span class=\"_ _314\"> </span></div><div class=\"t m0 x67d h193 y21e0 ff76 fs129 fc1 sc0 ls76 ws5\">recognised in o<span class=\"_ _0\"></span>th<span class=\"_ _2\"></span>er<span class=\"_ _314\"> </span></div><div class=\"t m0 x67d h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">comprehensive<span class=\"_ _0\"></span> income<span class=\"_ _314\"> </span></div></td><td class=\"c n x9aa y22c8 w5c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ab y22c8 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ac y22c8 w5c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">12</div></td></tr><tr><td class=\"t m0 x683 h193 y22c9 ff76 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Ac<span class=\"_ _2\"></span>tuarial gains</span><span class=\"ls76 ws5\"><span class=\"_ _0\"></span> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y22ca w5b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">\u2013 financial assumptions<span class=\"_ _314\"> </span></div></td><td class=\"c n x994 y22ca w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ad y22ca w95 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">35<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ae y22ca w95 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">35</div></td></tr><tr><td class=\"t m0 x683 h193 y22cb ff76 fs129 fc1 sc0 ls4 ws3\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Ac<span class=\"_ _2\"></span>tuarial gains</span><span class=\"ls76 ws5\"><span class=\"_ _0\"></span> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x684 y218d w5b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u2013 demographic<span class=\"_ _0\"></span> assumptions<span class=\"_ _314\"> </span></div></td><td class=\"c n x996 y218d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9af y218d w33a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b0 y218d w542 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22cc w5c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Ac<span class=\"_ _2\"></span>tuarial<span class=\"_ _0\"></span> losses \u2013 experience<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9b1 y22cc w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b2 y22cc w8f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b3 y22cc w8f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(11)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x68a y213d w33b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Employer<span class=\"_ _0\"></span> contribut<span class=\"_ _2\"></span>ions</div><div class=\"t m0 x5f6 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x999 y214c wa5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b4 y214c w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b5 y214c w5c3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y2176 w5ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Benefi<span class=\"_ _2\"></span>ts paid<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b6 y2176 w5c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">(113)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b7 y2176 w5c5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">11<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b8 y2176 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y22cd w303 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n x9b9 y22cd w55 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ba y22cd w1a5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9bb y22cd wa0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y2069 w5c6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x9bc y2069 w5c7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">2<span class=\"_ _2\"></span>,093<span class=\"_ _314\"> </span></div></td><td class=\"c n x9bd y2069 w127 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6f ws99\">(1,<span class=\"_ _2\"></span>893)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9be y2069 w5c8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup co<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ute<span class=\"_ _2\"></span>d \u00a35 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on (2<span class=\"_ _2\"></span>02<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>6 mil<span class=\"_ _2\"></span>lion<span class=\"_ _2\"></span>) to it<span class=\"_ _2\"></span>s La<span class=\"_ _2\"></span>rge U<span class=\"_ _2\"></span>K sch<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to con<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ibu<span class=\"_ _2\"></span>te ap<span class=\"_ _2\"></span>prox<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>tel<span class=\"_ _2\"></span>y \u00a34 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n to it<span class=\"_ _2\"></span>s La<span class=\"_ _2\"></span>rge U<span class=\"_ _2\"></span>K sch<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>s in 2026<span class=\"_ _2\"></span>. For t<span class=\"_ _2\"></span>he R<span class=\"_ _2\"></span>PF, the T<span class=\"_ _0\"></span>rustees have<span class=\"_ _0\"></span> the right to<span class=\"_ _0\"></span> call for special<span class=\"_ _0\"></span> valuations, which could s<span class=\"_ _0\"></span>ubsequent<span class=\"_ _2\"></span>ly<span class=\"_ _0\"></span> result in the Gr<span class=\"_ _2\"></span>oup h<span class=\"_ _2\"></span>avi<span class=\"_ _2\"></span>ng to ma<span class=\"_ _2\"></span>ke an un<span class=\"_ _2\"></span>exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>. Ma<span class=\"_ _2\"></span>rket-<span class=\"_ _2\"></span>re<span class=\"_ _2\"></span>late<span class=\"_ _2\"></span>d fac<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span>rs ma<span class=\"_ _2\"></span>y als<span class=\"_ _2\"></span>o af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e timing and<span class=\"_ _0\"></span> amount of<span class=\"_ _0\"></span> contributions<span class=\"_ _314\"> </span>12.4 Large UK schemes<span class=\"_ _314\"> </span>The de<span class=\"_ _2\"></span>tail t<span class=\"_ _2\"></span>hat fol<span class=\"_ _2\"></span>lows re<span class=\"_ _2\"></span>lates to t<span class=\"_ _2\"></span>he Large U<span class=\"_ _2\"></span>K schemes<span class=\"_ _2\"></span>. In t<span class=\"_ _2\"></span>his sec<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n<span class=\"_ _314\"> </span>we sho<span class=\"_ _2\"></span>w the move<span class=\"_ _2\"></span>ment of t<span class=\"_ _2\"></span>he sche<span class=\"_ _2\"></span>me asset<span class=\"_ _2\"></span>s and d<span class=\"_ _2\"></span>efi<span class=\"_ _2\"></span>ned ben<span class=\"_ _2\"></span>efi<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span>obl<span class=\"_ _2\"></span>igat<span class=\"_ _2\"></span>ions i<span class=\"_ _2\"></span>n the ye<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>, al<span class=\"_ _2\"></span>ongsi<span class=\"_ _2\"></span>de the a<span class=\"_ _2\"></span>sset cla<span class=\"_ _2\"></span>sses an<span class=\"_ _2\"></span>d expe<span class=\"_ _2\"></span>cted<span class=\"_ _314\"> </span>ben<span class=\"_ _2\"></span>efi<span class=\"_ _2\"></span>t pay<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s. We al<span class=\"_ _2\"></span>so expl<span class=\"_ _2\"></span>ain th<span class=\"_ _2\"></span>e scheme<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span>\u2019 inves<span class=\"_ _2\"></span>tment p<span class=\"_ _2\"></span>olic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>,<span class=\"_ _314\"> </span>key assu<span class=\"_ _2\"></span>mpti<span class=\"_ _2\"></span>ons and r<span class=\"_ _2\"></span>isk man<span class=\"_ _2\"></span>agem<span class=\"_ _2\"></span>ent.<span class=\"_ _314\"> </span><table class=\"s w5c9 h265\" id=\"_83c1236a-d93d-4596-af6c-425823bbef3d\"><tr><td></td><td class=\"t m0 x9bf hb y22ce ff76 fs6 fc1 sc0 ls4 ws3\">Bu<span class=\"_ _2\"></span>y-in </td><td class=\"c n x4c5 y22cf w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y22cf w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x9c0 hb y22d0 ff76 fs6 fc1 sc0 ls12 ws81\">status<span class=\"_ _314\"> </span></td><td class=\"c n x5b8 y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b9 y22d1 w244 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a4 w41b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">RPF<span class=\"_ _314\"> </span></div></td><td class=\"c x9c2 y22a4 w5ca h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Par<span class=\"_ _2\"></span>tial</div><div class=\"t m0 x9c1 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9c3 y22a4 w5cb h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls75 ws9e\">190<span class=\"_ _314\"> </span></div></td><td class=\"c n x9c4 y22a4 w5cc h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">125<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w370 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8 ws5\">SPS<span class=\"_ _314\"> </span></div></td><td class=\"c x9c6 y2297 w5cd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6d ws97\">Full</div><div class=\"t m0 x9c5 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x9c7 y2297 w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x9c8 y2297 w50 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w149 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">LS<span class=\"_ _2\"></span>E Sec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of L<span class=\"_ _2\"></span>SE<span class=\"_ _2\"></span>GP<span class=\"_ _2\"></span>S<span class=\"_ _314\"> </span></div></td><td class=\"c x9ca y2288 w5ce h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6d ws97\">Full</div><div class=\"t m0 x9c9 h194 y20bd ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x9cb y2288 w55 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9cc y2288 w3c1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2289 w5cf h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">LCH Se<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f LSE<span class=\"_ _2\"></span>GP<span class=\"_ _2\"></span>S<span class=\"_ _314\"> </span></div></td><td class=\"c x9ce y2289 w5d0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6d ws97\">Full</div><div class=\"t m0 x9cd h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x9cb y2289 w55 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9cf y2289 w38b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w5a5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">Net retirement<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it asset<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x9d0 y2069 w5d1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x942 h193 y22d2 ff76 fs129 fc1 sc0 ls6a ws1\">141<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>T<span class=\"_ _2\"></span>he RP<span class=\"_ _2\"></span>F has a p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>al bu<span class=\"_ _2\"></span>y-<span class=\"_ _2\"></span>in ar<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>gem<span class=\"_ _2\"></span>ent i<span class=\"_ _2\"></span>n pla<span class=\"_ _2\"></span>ce am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g to \u00a3<span class=\"_ _2\"></span>345 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion<span class=\"_ _314\"> </span>(202<span class=\"_ _0\"></span>4: \u00a3356 million).<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>As a<span class=\"_ _2\"></span>t 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>be<span class=\"_ _2\"></span>r 2025, t<span class=\"_ _2\"></span>he SP<span class=\"_ _2\"></span>S bu<span class=\"_ _2\"></span>y-<span class=\"_ _2\"></span>in am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>ted to \u00a3<span class=\"_ _2\"></span>17<span class=\"_ _2\"></span>2 mill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a31<span class=\"_ _2\"></span>76 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n).<span class=\"_ _314\"> </span>3 <span class=\"_ _7\"> </span>A<span class=\"_ _2\"></span>s at 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er 2025<span class=\"_ _2\"></span>, the L<span class=\"_ _2\"></span>SE a<span class=\"_ _2\"></span>nd LCH S<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns of t<span class=\"_ _2\"></span>he L<span class=\"_ _2\"></span>SEG<span class=\"_ _2\"></span>PS b<span class=\"_ _2\"></span>uy<span class=\"_ _2\"></span>-in a<span class=\"_ _2\"></span>mou<span class=\"_ _2\"></span>nte<span class=\"_ _2\"></span>d<span class=\"_ _314\"> </span>to \u00a3<span class=\"_ _2\"></span>248 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on (20<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>259 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on) an<span class=\"_ _2\"></span>d \u00a312<span class=\"_ _2\"></span>3 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (2024: \u00a31<span class=\"_ _2\"></span>29 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n), re<span class=\"_ _2\"></span>spe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ely.<span class=\"_ _314\"> </span>The f<span class=\"_ _2\"></span>air v<span class=\"_ _2\"></span>alue of e<span class=\"_ _2\"></span>ach ma<span class=\"_ _2\"></span>jor cl<span class=\"_ _2\"></span>ass of s<span class=\"_ _2\"></span>chem<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>ets a<span class=\"_ _2\"></span>re as fol<span class=\"_ _2\"></span>lows<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span><table class=\"s w5d2 h266\" id=\"_973207d0-a354-4177-8876-8ff174a12bb3\"><tr><td></td><td class=\"c n x649 y22d3 w26f h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x64a y22d3 w270 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y22d4 w5d3 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls26 ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x9d1 y22d4 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x9d2 y22d4 w244 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y22d5 ff76 fs129 fc1 sc0 ls6c ws96\">Equities<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22d6 w5d4 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws0\">Q<span class=\"_ _2\"></span>uoted<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9d3 y22d6 w5d5 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">112<span class=\"_ _314\"> </span></div></td><td class=\"c n x9d4 y22d6 w53e h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls75 ws9e\">108<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d7 w5d6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 ws79\">Unquoted<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9d5 y22d7 w17c h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td><td class=\"c n x9d6 y22d7 w315 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y22d8 ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c x1eb y22d9 w5d7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 ws79\">Unquoted</span></div><div class=\"t m0 x9d7 h194 y20bd ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x65f y22d9 w185 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6d ws97\">778<span class=\"_ _314\"> </span></div></td><td class=\"c n x9d8 y22d9 w5d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6e ws98\">729<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2297 w553 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Buy-<span class=\"_ _2\"></span>in policy<span class=\"_ _314\"> </span></div></td><td class=\"c n x9d9 y2297 w5d9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">888<span class=\"_ _314\"> </span></div></td><td class=\"c n x9da y2297 w5da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa2 wscd\">920<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2288 wdb h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x9db y2288 w5db h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">16<span class=\"_ _314\"> </span></div></td><td class=\"c n x9dc y2288 w5dc h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsb6\">20<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y228f w5dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Multi<span class=\"_ _2\"></span>-assets and other<span class=\"_ _314\"> </span></div></td><td class=\"c n x9dd y228f w5de h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">293<span class=\"_ _314\"> </span></div></td><td class=\"c n x9de y228f w5df h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6e ws98\">294<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w5e0 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ota<span class=\"_ _2\"></span>l fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of ass<span class=\"_ _2\"></span>ets<span class=\"_ _314\"> </span></div></td><td class=\"c n x9df y2069 w5e1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">2,093<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x9e0 h193 y22da ff76 fs129 fc1 sc0 ls67 ws61\">2,08<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>Includes gross<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of \u00a31,238 million (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a31,<span class=\"_ _2\"></span>310 million)<span class=\"_ _0\"></span> and associated repur<span class=\"_ _0\"></span>chase agreement liabilities of<span class=\"_ _0\"></span> \u00a3460 million<span class=\"_ _0\"></span> (202<span class=\"_ _0\"></span>4: \u00a3581 million).<span class=\"_ _0\"></span> Repurchase agreements ar<span class=\"_ _0\"></span>e entered into with count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ties to<span class=\"_ _0\"></span> bet<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> off<span class=\"_ _2\"></span>set<span class=\"_ _0\"></span> the scheme\u2019<span class=\"_ _0\"></span>s exposure t<span class=\"_ _0\"></span>o interest and<span class=\"_ _0\"></span> inflat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> rates, wh<span class=\"_ _2\"></span>ils<span class=\"_ _2\"></span>t rem<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>ing i<span class=\"_ _2\"></span>nves<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d in as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of a si<span class=\"_ _2\"></span>mil<span class=\"_ _2\"></span>ar ri<span class=\"_ _2\"></span>sk pr<span class=\"_ _2\"></span>ofi<span class=\"_ _2\"></span>le.<span class=\"_ _314\"> </span>Investment policy<span class=\"_ _314\"> </span>The Group bears the cost o<span class=\"_ _0\"></span>f the Large UK schemes. Howev<span class=\"_ _0\"></span>er,<span class=\"_ _0\"></span> the responsibilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> for managing and<span class=\"_ _0\"></span> governing the Large UK schemes<span class=\"_ _0\"></span> lies with the independent trus<span class=\"_ _2\"></span>tee boards<span class=\"_ _0\"></span> (<span class=\"_ _2\"></span>T<span class=\"_ _3\"></span>rus<span class=\"_ _2\"></span>tees<span class=\"_ _0\"></span>). T<span class=\"_ _0\"></span>rustees set inv<span class=\"_ _0\"></span>est<span class=\"_ _2\"></span>ment policies and strategies for<span class=\"_ _0\"></span> each plan and ov<span class=\"_ _0\"></span>erse<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ment<span class=\"_ _0\"></span> allocat<span class=\"_ _2\"></span>ion. This includes selecting investment managers<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> commissioning periodic asset-liabilit<span class=\"_ _2\"></span>y studies and setting long<span class=\"_ _2\"></span>-term targets. The T<span class=\"_ _3\"></span>rus<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ees may consult with the Group in setting investment polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, but the<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>rustees are ultimately acc<span class=\"_ _0\"></span>ountable for it.<span class=\"_ _314\"> </span>The principal investment object<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> are to<span class=\"_ _0\"></span>: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Ens<span class=\"_ _2\"></span>ure fu<span class=\"_ _2\"></span>nds are a<span class=\"_ _2\"></span>vail<span class=\"_ _2\"></span>able t<span class=\"_ _2\"></span>o pay pe<span class=\"_ _2\"></span>nsio<span class=\"_ _2\"></span>n benef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>s the<span class=\"_ _2\"></span>y beco<span class=\"_ _2\"></span>me </span>due under a<span class=\"_ _0\"></span> broad range of future<span class=\"_ _0\"></span> economic scenarios. <span class=\"_ _df\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls116 ws7\">Maximise long-term investmen<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> return with an acceptable le<span class=\"_ _0\"></span>vel of risk. </span> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Diversif<span class=\"_ _2\"></span>y across capital marke<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s t<span class=\"_ _0\"></span>o insulate asset<span class=\"_ _0\"></span> values against risk </span>in any one<span class=\"_ _0\"></span> market.<span class=\"_ _314\"> </span>Investment allocation<span class=\"_ _314\"> </span>Investment allocat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> takes into ac<span class=\"_ _0\"></span>count a number o<span class=\"_ _0\"></span>f fac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>s, incl<span class=\"_ _0\"></span>uding: the funded status of the scheme;<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>ting the right balanc<span class=\"_ _0\"></span>e bet<span class=\"_ _2\"></span>ween risk and r<span class=\"_ _0\"></span>eturn; the scheme\u2019<span class=\"_ _0\"></span>s liquidity needs; current and e<span class=\"_ _0\"></span>xpe<span class=\"_ _2\"></span>cted economic a<span class=\"_ _0\"></span>nd market<span class=\"_ _0\"></span> conditions; specific asset cl<span class=\"_ _0\"></span>ass risk; as well<span class=\"_ _0\"></span> as the risk profile and maturity pat<span class=\"_ _2\"></span>tern o<span class=\"_ _0\"></span>f the scheme.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>arget investment allocat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> ranges provide guidelines, not limitations. Plans may<span class=\"_ _0\"></span> have diversif<span class=\"_ _2\"></span>ied port<span class=\"_ _2\"></span>folios<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tments in equities, fi<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span>ed income, r<span class=\"_ _0\"></span>eal estate, insurance c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ract<span class=\"_ _2\"></span>s, derivatives, and other asset classes through dir<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>t ownership or<span class=\"_ _0\"></span> through other instr<span class=\"_ _2\"></span>uments, suc<span class=\"_ _2\"></span>h as mu<span class=\"_ _2\"></span>tual f<span class=\"_ _2\"></span>und<span class=\"_ _2\"></span>s, com<span class=\"_ _2\"></span>ming<span class=\"_ _2\"></span>led f<span class=\"_ _2\"></span>unds a<span class=\"_ _2\"></span>nd he<span class=\"_ _2\"></span>dge f<span class=\"_ _2\"></span>unds<span class=\"_ _2\"></span>. Der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ves may b<span class=\"_ _2\"></span>e use<span class=\"_ _2\"></span>d to achi<span class=\"_ _2\"></span>eve inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t obje<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>s or as a co<span class=\"_ _2\"></span>mpon<span class=\"_ _2\"></span>ent of ri<span class=\"_ _2\"></span>sk man<span class=\"_ _2\"></span>agem<span class=\"_ _2\"></span>ent (s<span class=\"_ _2\"></span>uch as fo<span class=\"_ _2\"></span>r inter<span class=\"_ _2\"></span>est r<span class=\"_ _2\"></span>ate an<span class=\"_ _2\"></span>d curre<span class=\"_ _2\"></span>nc<span class=\"_ _2\"></span>y management strategies). The T<span class=\"_ _3\"></span>rus<span class=\"_ _2\"></span>tees<span class=\"_ _0\"></span> invest the schemes\u2019 assets in a<span class=\"_ _0\"></span> por<span class=\"_ _2\"></span>tfolio of physical assets and liability<span class=\"_ _2\"></span>-matching assets: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The physical assets have the objective of outper<span class=\"_ _2\"></span>forming the li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies </span>by in<span class=\"_ _2\"></span>vest<span class=\"_ _2\"></span>ing i<span class=\"_ _2\"></span>n a sui<span class=\"_ _2\"></span>tab<span class=\"_ _2\"></span>ly di<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>sif<span class=\"_ _2\"></span>ied r<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>e of ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s, con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g of ris<span class=\"_ _2\"></span>k premia strategies, corporate bonds (<span class=\"_ _0\"></span>and other credit alternatives) and proper<span class=\"_ _2\"></span>ty which together are<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> to reduce<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ment v<span class=\"_ _0\"></span>olatili<span class=\"_ _2\"></span>ty. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">The liability<span class=\"_ _2\"></span>-matching assets seek t<span class=\"_ _0\"></span>o hedge against the interest rate </span>and inflation risks associated with liabilities<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The assets are predominantly gilt<span class=\"_ _2\"></span>s, both nominal<span class=\"_ _0\"></span> and index-linked. The<span class=\"_ _0\"></span> SP<span class=\"_ _2\"></span>S<span class=\"_ _0\"></span> and LSEG<span class=\"_ _2\"></span>PS include<span class=\"_ _0\"></span> bulk annuit<span class=\"_ _2\"></span>y transact<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> (bu<span class=\"_ _2\"></span>y-ins) broadly insuring all t<span class=\"_ _2\"></span>he be<span class=\"_ _2\"></span>nef<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s. T<span class=\"_ _2\"></span>he RP<span class=\"_ _2\"></span>F has a pa<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tial b<span class=\"_ _2\"></span>uy<span class=\"_ _2\"></span>-in<span class=\"_ _314\"> </span><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3a8\">Plan assets are inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed to adequately secure<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>its and to<span class=\"_ _0\"></span> minimise </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3a9\">the need for<span class=\"_ _0\"></span> long<span class=\"_ _2\"></span>-term contributions to the schemes. The<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s held </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3aa\">by t<span class=\"_ _2\"></span>he RP<span class=\"_ _2\"></span>F mainl<span class=\"_ _2\"></span>y con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>t of cas<span class=\"_ _2\"></span>h and c<span class=\"_ _2\"></span>ash eq<span class=\"_ _2\"></span>uiv<span class=\"_ _2\"></span>alen<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>, gove<span class=\"_ _2\"></span>rnme<span class=\"_ _2\"></span>nt </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3ab\">and corporate bonds, and<span class=\"_ _0\"></span> various invest<span class=\"_ _2\"></span>ment<span class=\"_ _0\"></span> vehicles. The SPS and </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3ac\">th<span class=\"_ _2\"></span>e LSE<span class=\"_ _2\"></span>GP<span class=\"_ _2\"></span>S are fu<span class=\"_ _2\"></span>lly b<span class=\"_ _2\"></span>ough<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>in and t<span class=\"_ _2\"></span>herefo<span class=\"_ _2\"></span>re hol<span class=\"_ _2\"></span>d cas<span class=\"_ _2\"></span>h, bu<span class=\"_ _2\"></span>y-<span class=\"_ _2\"></span>in cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls5 ws5 gs3ad\">and some l<span class=\"_ _0\"></span>iquid assets<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls10 ws20 gs3ae\">Funding<span class=\"_ _0\"></span> valuations and<span class=\"_ _0\"></span> arrangements<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3af\">The T<span class=\"_ _3\"></span>rus<span class=\"_ _2\"></span>tees<span class=\"_ _0\"></span> are responsible f<span class=\"_ _0\"></span>or carr<span class=\"_ _2\"></span>ying out triennial valuations </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3b0\">(unless circumstances r<span class=\"_ _0\"></span>equire an earlier r<span class=\"_ _0\"></span>eview) and securing funding for </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws48 gs3b1\">benefi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s. In order<span class=\"_ _0\"></span> to develop funding valuations and<span class=\"_ _0\"></span> investmen<span class=\"_ _2\"></span>t </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3b2\">policies, the T<span class=\"_ _3\"></span>ru<span class=\"_ _2\"></span>stees c<span class=\"_ _0\"></span>onsult wit<span class=\"_ _2\"></span>h the schemes<span class=\"_ _0\"></span>\u2019 actuar<span class=\"_ _2\"></span>y (who is </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3b3\">independent of the Group<span class=\"_ _0\"></span>\u2019s actuar<span class=\"_ _2\"></span>y), the schemes<span class=\"_ _0\"></span>\u2019 investment adviso<span class=\"_ _2\"></span>rs </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3b4\">(also independent o<span class=\"_ _0\"></span>f the Group\u2019<span class=\"_ _0\"></span>s investment adv<span class=\"_ _2\"></span>isors)<span class=\"_ _0\"></span> and the Group. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3b5\">The l<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>t tr<span class=\"_ _2\"></span>ienn<span class=\"_ _2\"></span>ial va<span class=\"_ _2\"></span>luat<span class=\"_ _2\"></span>ions a<span class=\"_ _2\"></span>gree<span class=\"_ _2\"></span>d for t<span class=\"_ _2\"></span>he RPF a<span class=\"_ _2\"></span>nd SP<span class=\"_ _2\"></span>S were d<span class=\"_ _2\"></span>ated </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3b6\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2022 an<span class=\"_ _2\"></span>d dis<span class=\"_ _2\"></span>cuss<span class=\"_ _2\"></span>ions a<span class=\"_ _2\"></span>re due to g<span class=\"_ _2\"></span>et und<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>way fo<span class=\"_ _2\"></span>r the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3b7\">next triennial valuations which are e<span class=\"_ _0\"></span>xpe<span class=\"_ _2\"></span>cted to<span class=\"_ _0\"></span> be finalised by March </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3b8\">2027<span class=\"_ _3\"></span>. T<span class=\"_ _2\"></span>he LS<span class=\"_ _2\"></span>EG<span class=\"_ _2\"></span>PS la<span class=\"_ _2\"></span>test t<span class=\"_ _2\"></span>rie<span class=\"_ _2\"></span>nnia<span class=\"_ _2\"></span>l valu<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on was d<span class=\"_ _2\"></span>ated 3<span class=\"_ _2\"></span>1<span class=\"_ gsbf\"> </span>Dece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3b9\">2023. T<span class=\"_ _2\"></span>he onl<span class=\"_ _2\"></span>y val<span class=\"_ _2\"></span>uat<span class=\"_ _2\"></span>ion wh<span class=\"_ _2\"></span>ich rev<span class=\"_ _2\"></span>eale<span class=\"_ _2\"></span>d a def<span class=\"_ _2\"></span>ici<span class=\"_ _2\"></span>t was t<span class=\"_ _2\"></span>he LS<span class=\"_ _2\"></span>E Sec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3ba\">of t<span class=\"_ _2\"></span>he LS<span class=\"_ _2\"></span>EGP<span class=\"_ _2\"></span>S wh<span class=\"_ _2\"></span>ich has a r<span class=\"_ _2\"></span>ecover<span class=\"_ _2\"></span>y p<span class=\"_ _2\"></span>lan in p<span class=\"_ _2\"></span>lace to r<span class=\"_ _2\"></span>emove t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3bb\">tec<span class=\"_ _2\"></span>hnic<span class=\"_ _2\"></span>al prov<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>ons sh<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>fall o<span class=\"_ _2\"></span>f \u00a32 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on by Ap<span class=\"_ _2\"></span>ril 2028<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3bc\">The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p cont<span class=\"_ _2\"></span>inue<span class=\"_ _2\"></span>s to prov<span class=\"_ _2\"></span>ide g<span class=\"_ _2\"></span>uara<span class=\"_ _2\"></span>ntee<span class=\"_ _2\"></span>s to the Trus<span class=\"_ _2\"></span>tees of t<span class=\"_ _2\"></span>he R<span class=\"_ _2\"></span>PF </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3bd\">and t<span class=\"_ _2\"></span>o the T<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>uste<span class=\"_ _2\"></span>es of t<span class=\"_ _2\"></span>he SP<span class=\"_ _2\"></span>S in con<span class=\"_ _2\"></span>junc<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>ith t<span class=\"_ _2\"></span>rie<span class=\"_ _2\"></span>nnia<span class=\"_ _2\"></span>l valu<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on and<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3be\">fu<span class=\"_ _2\"></span>ndin<span class=\"_ _2\"></span>g obli<span class=\"_ _2\"></span>gat<span class=\"_ _2\"></span>ions<span class=\"_ _2\"></span>. A<span class=\"_ _2\"></span>s at 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber v2025, t<span class=\"_ _2\"></span>he agg<span class=\"_ _2\"></span>rega<span class=\"_ _2\"></span>te max<span class=\"_ _2\"></span>imum<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3bf\">liabilit<span class=\"_ _2\"></span>y under<span class=\"_ _0\"></span> the guarantees was \u00a3700 million<span class=\"_ _0\"></span> for the RPF and \u00a312<span class=\"_ _0\"></span>0 </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3c0\">million for<span class=\"_ _0\"></span> the SPS<span class=\"_ _2\"></span>. These<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e unchanged from last ye<span class=\"_ _0\"></span>ar.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls4 ws2b gs3c1\">Actuarial assumption<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3c2\">The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p used t<span class=\"_ _2\"></span>he fol<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>ing wei<span class=\"_ _2\"></span>ghte<span class=\"_ _2\"></span>d-<span class=\"_ _2\"></span>aver<span class=\"_ _2\"></span>age a<span class=\"_ _2\"></span>ssum<span class=\"_ _2\"></span>pti<span class=\"_ _2\"></span>ons in<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3c3\">determining the defined benefit obligation for the Large<span class=\"_ _0\"></span> U<span class=\"_ _2\"></span>K<span class=\"_ _0\"></span> schemes:<span class=\"_ _314\"> </span></div><div class=\"gs3c4\"><table class=\"s w5e2 h267\" id=\"_37da458f-bfe8-46dc-93ad-357826aa7e2e\"><tr><td></td><td class=\"c n x677 y22db w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x678 y22db w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22dc ff76 fs129 fc1 sc0 ls76 ws5\">Discount rate<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22dd w5e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 ws79\">Non<span class=\"_ _2\"></span>-insured<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9e1 y22dd w5e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">5.50%<span class=\"_ _314\"> </span></div></td><td class=\"c n x9e2 y22dd w5e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">5.50<span class=\"_ _2\"></span>%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22de w5e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws0\">I<span class=\"_ _2\"></span>nsured<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9e3 y22de w5e7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d ws97\">5.40%<span class=\"_ _314\"> </span></div></td><td class=\"c n x9e4 y22de w5e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">5.<span class=\"_ _2\"></span>36%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y22df w5e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Price inflation<span class=\"_ _314\"> </span></div></td><td class=\"c n x9e5 y22df w5ea h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">2<span class=\"_ _2\"></span>.90%<span class=\"_ _314\"> </span></div></td><td class=\"c n x9e6 y22df w5eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8 ws5\">3.23%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x68a y22e0 w5ec h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Rate<span class=\"_ _0\"></span> of increase in<span class=\"_ _0\"></span> salaries<span class=\"_ _314\"> </span></div></td><td class=\"c n x9e7 y22e0 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x9e8 y22e0 w5ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">3.<span class=\"_ _2\"></span>20%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x6bc h193 y22e1 ff76 fs129 fc1 sc0 ls6a ws3\">Li<span class=\"_ _2\"></span>fe expe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>tan<span class=\"_ _2\"></span>cy f<span class=\"_ _2\"></span>rom ag<span class=\"_ _2\"></span>e 65 (y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s)<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22e2 w5ee h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-retired<span class=\"_ _0\"></span> male member<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9e9 y22e2 w5ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb1 wsdd\">2<span class=\"_ _2\"></span>3.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ea y22e2 w5f0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">23.9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e3 w5f1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Non<span class=\"_ _2\"></span>-retired f<span class=\"_ _0\"></span>emale member<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9eb y22e3 w518 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb1 wsdd\">25<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ec y22e3 w5f2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">26<span class=\"_ _2\"></span>.0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w5f3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Retired male member<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9ed y22e4 w5f4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">22.6<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ee y22e4 w5f5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">22.<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w5f6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Retired female<span class=\"_ _0\"></span> member<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x9ef y2069 w5f7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>.4<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x9f0 h193 y22e5 ff76 fs129 fc1 sc0 lsb9 wse9\">24<span class=\"_ _2\"></span>.<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls4 ws2b gs3c5\">Sensitiv<span class=\"_ _2\"></span>ity analysis<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3c6\">The measurement<span class=\"_ _0\"></span> of the Large UK schemes<span class=\"_ _0\"></span> obligation<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> is sensiti<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3c7\">to changes<span class=\"_ _0\"></span> in cert<span class=\"_ _2\"></span>ain<span class=\"_ _0\"></span> key assumptions. The sensitivit<span class=\"_ _2\"></span>y analysis below </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3c8\">shows how a<span class=\"_ _0\"></span> reasonably possible increase in<span class=\"_ _0\"></span> a par<span class=\"_ _2\"></span>ticular assumption </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3c9\">would, in isolation, r<span class=\"_ _0\"></span>esult in an increase<span class=\"_ _0\"></span> or decrease in<span class=\"_ _0\"></span> the present </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3ca\">val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he def<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>ed ben<span class=\"_ _2\"></span>ef<span class=\"_ _2\"></span>it ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns as at 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"gs3cb\"><table class=\"s w5f8 h268\" id=\"_63b15651-ed93-40b7-8b04-932c18b4cc5b\"><tr><td></td><td></td><td></td><td class=\"t m0 x9f1 h13 y22e6 ff75 fs6 fc1 sc0 lse5 ws125\">(Decrease)/increase<span class=\"_ _314\"> </span></td></tr><tr><td></td><td></td><td></td><td class=\"c x9f3 y22e7 w5f9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws75\">in scheme obligations</div><div class=\"t m0 x9f2 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x9f4 hb y22e8 ff76 fs6 fc1 sc0 ls7a wsa4\">Change in<span class=\"_ _0\"></span> </td><td class=\"c n x4e9 y22e9 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y22e9 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21fd w5fa h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">Assumption<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x9f5 hb y22ea ff76 fs6 fc1 sc0 ls41 ws56\">assumption<span class=\"_ _314\"> </span></td><td class=\"c n x9f6 y21fd w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x9f7 y21fd w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w5fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Discount rate<span class=\"_ _314\"> </span></div></td><td class=\"c n x9f8 y213e w5fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">+<span class=\"_ _2\"></span>0.5%<span class=\"_ _314\"> </span></div></td><td class=\"c n x9f9 y213e w5fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">(103<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fa y213e w5ff h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">(110)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w5e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Price inflation<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fb y2068 w5fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">+<span class=\"_ _2\"></span>0.5%<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fc y2068 w600 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls89 ws79\">56<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fd y2068 w90 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">60<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w601 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Mor<span class=\"_ _2\"></span>talit<span class=\"_ _2\"></span>y rat<span class=\"_ _0\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fe y2069 w602 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 ws98\">+1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ff y2069 w603 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td><td class=\"c n x976 y2069 w105 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls10e ws116\">64<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs3cc\">1 <span class=\"_ _c\"> </span>The sensitivit<span class=\"_ _2\"></span>y an<span class=\"_ _0\"></span>aly<span class=\"_ _2\"></span>sis<span class=\"_ _0\"></span> may not be<span class=\"_ _0\"></span> representative of an<span class=\"_ _0\"></span> actual change in<span class=\"_ _0\"></span> the scheme </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls2b ws48 gs3cd\">obligations as it<span class=\"_ _0\"></span> is unlikely that<span class=\"_ _0\"></span> changes in assumptions<span class=\"_ _0\"></span> would occur in<span class=\"_ _0\"></span> isolation of one<span class=\"_ _0\"></span> another. </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs3ce\">The analysis is<span class=\"_ _0\"></span> done in a<span class=\"_ _0\"></span> similar way<span class=\"_ _0\"></span> to calculating the scheme<span class=\"_ _0\"></span> obligations recognised in<span class=\"_ _0\"></span> the </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs3cf\">ba<span class=\"_ _2\"></span>lan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et in t<span class=\"_ _2\"></span>hat i<span class=\"_ _2\"></span>t use<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e proj<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted u<span class=\"_ _2\"></span>nit c<span class=\"_ _2\"></span>red<span class=\"_ _2\"></span>it me<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span>od at t<span class=\"_ _2\"></span>he en<span class=\"_ _2\"></span>d of th<span class=\"_ _2\"></span>e yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span><span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div>12.<span class=\"_ _2\"></span>3 Amounts recognised in<span class=\"_ _0\"></span> the balance sheet in<span class=\"_ _0\"></span> respec<span class=\"_ _2\"></span>t of retirement<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it<span class=\"_ _0\"></span> schemes<span class=\"_ _314\"> </span>The amounts recognised in the<span class=\"_ _0\"></span> balance sheet include<span class=\"_ _0\"></span> the asset<span class=\"_ _2\"></span>s and liabilities of the Large<span class=\"_ _0\"></span> UK schemes, as well as<span class=\"_ _0\"></span> various smaller schemes. All pension scheme assets are<span class=\"_ _0\"></span> held separately from those of<span class=\"_ _0\"></span> the Group.<span class=\"_ _314\"> </span><table class=\"s w5a0 h260\" id=\"_4c42631f-80e5-45ad-bd98-dc93dbbe7178\"><tr><td></td><td class=\"c n x4e9 y229d w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y229d w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y2291 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y2291 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w5a1 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it assets<span class=\"_ _314\"> </span></div></td><td class=\"c n x938 y2288 w5a2 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">23<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x972 y2288 w1a3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>62<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w103 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Retirement bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it obligations<span class=\"_ _314\"> </span></div></td><td class=\"c n x973 y228f w5a3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(86)<span class=\"_ _314\"> </span></div></td><td class=\"c n x974 y228f w5a4 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">(6<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w5a5 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">Net retirement<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it asset<span class=\"_ _314\"> </span></div></td><td class=\"c n x975 y2069 w5a6 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls71 ws9a\">152<span class=\"_ _314\"> </span></div></td><td class=\"t m2 x960 h193 y229e ff76 fs129 fc1 sc0 lsab wsd4\">98<span class=\"_ _314\"> </span></td></tr></table>The changes in<span class=\"_ _0\"></span> the net retirement<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it asset during<span class=\"_ _0\"></span> the year are as fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w5a7 h261\" id=\"_4bd94f6d-c5e0-4624-826c-762da64fcd4f\"><tr><td></td><td></td><td class=\"c n x4e9 y229f w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y229f w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x956 y22a0 w218 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x957 y22a0 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x958 y22a0 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a1 w342 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x93a y22a1 w94 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">98<span class=\"_ _314\"> </span></div></td><td class=\"c n x976 y22a1 w568 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">93<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y22a2 ff76 fs129 fc1 sc0 ls89 wsda\">Pension<span class=\"_ _0\"></span> expense, including<span class=\"_ _0\"></span> net </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22a3 w5a8 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">interest income<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x977 y22a3 w231 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">(25)<span class=\"_ _314\"> </span></div></td><td class=\"c n x978 y22a3 w5a9 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws9f\">(9)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a4 w5aa h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Actuarial gains/(los<span class=\"_ _2\"></span>ses<span class=\"_ _0\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x979 y22a4 w263 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls67 ws61\">12.2<span class=\"_ _314\"> </span></div></td><td class=\"c n x97a y22a4 w5ab h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsab wsd4\">64<span class=\"_ _314\"> </span></div></td><td class=\"c n x97b y22a4 w474 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsac wsd7\">(3)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w5ac h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Employer<span class=\"_ _0\"></span> contribut<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> and benefit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> paid<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x97c y2297 w56 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x97d y2297 wa0 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">16<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w303 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x97e y2288 w55 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6af y2288 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2289 w349 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x97f y2289 w55 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x980 y2289 w2df h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x955 y2069 w5a6 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls71 ws9a\">152<span class=\"_ _314\"> </span></div></td><td class=\"t m2 x960 h193 y22a5 ff76 fs129 fc1 sc0 lsab wsd4\">98<span class=\"_ _314\"> </span></td></tr></table>The net r<span class=\"_ _0\"></span>etirement defined benef<span class=\"_ _2\"></span>it assets/(liabilities) in respect of defined benefit schemes are as<span class=\"_ _0\"></span> follows:<span class=\"_ _314\"> </span><table class=\"s w588 h25d\" id=\"_c155072d-8980-4891-8b2a-3355c2eb2299\"><tr><td></td><td></td><td class=\"c n x4e9 y2290 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y2290 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x956 y2291 w218 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x957 y2291 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x958 y2291 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2288 w38d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Large UK schemes</div><div class=\"t m2 x644 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x959 y2288 w589 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">12.4<span class=\"_ _314\"> </span></div></td><td class=\"c n x95a y2288 w58a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">200<span class=\"_ _314\"> </span></div></td><td class=\"c n x95b y2288 w58b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">141<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w58c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other plans<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x95c y228f w1e8 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls91 wsbf\">(48<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x95d y228f w58d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(43<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w58e h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">Net retirement<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it asset</div><div class=\"t m2 x95e h195 y210f ff75 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td></td><td class=\"t m2 x95f h187 y2292 ff75 fs129 fc1 sc0 ls71 ws9a\">152<span class=\"_ _314\"> </span></td><td class=\"t m2 x960 h193 y2293 ff76 fs129 fc1 sc0 lsab wsd4\">98<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>The Group<span class=\"_ _0\"></span> recognises net de<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>ined<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it assets on<span class=\"_ _0\"></span> the balance s<span class=\"_ _0\"></span>heet on the basis<span class=\"_ _0\"></span> that the Group would<span class=\"_ _0\"></span> have access<span class=\"_ _0\"></span> to the surplus<span class=\"_ _0\"></span> in the event<span class=\"_ _0\"></span> of a gradual<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement o<span class=\"_ _0\"></span>f the schemes. No a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>t cei<span class=\"_ _2\"></span>ling h<span class=\"_ _2\"></span>as t<span class=\"_ _2\"></span>here<span class=\"_ _2\"></span>fore b<span class=\"_ _2\"></span>een a<span class=\"_ _2\"></span>ppl<span class=\"_ _2\"></span>ied t<span class=\"_ _2\"></span>o the n<span class=\"_ _2\"></span>et su<span class=\"_ _2\"></span>rpl<span class=\"_ _2\"></span>us re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d. T<span class=\"_ _2\"></span>he LS<span class=\"_ _2\"></span>E Se<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span> of the<span class=\"_ _0\"></span> LS<span class=\"_ _2\"></span>EGPS is<span class=\"_ _0\"></span> the only UK scheme t<span class=\"_ _0\"></span>o have<span class=\"_ _0\"></span> minimum funding commitments however<span class=\"_ _0\"></span>, based on the lat<span class=\"_ _0\"></span>est analysis carried out by<span class=\"_ _0\"></span> the scheme actuar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, no<span class=\"_ _0\"></span> funding contribution above those se<span class=\"_ _2\"></span>t out i<span class=\"_ _2\"></span>n the a<span class=\"_ _2\"></span>gre<span class=\"_ _2\"></span>ed re<span class=\"_ _2\"></span>cove<span class=\"_ _2\"></span>ry p<span class=\"_ _2\"></span>lan w<span class=\"_ _2\"></span>as re<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>red f<span class=\"_ _2\"></span>rom t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup i<span class=\"_ _2\"></span>n 2025.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>In J<span class=\"_ _2\"></span>une 202<span class=\"_ _2\"></span>3, t<span class=\"_ _2\"></span>he Hi<span class=\"_ _2\"></span>gh Co<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>t is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d a rul<span class=\"_ _2\"></span>ing i<span class=\"_ _2\"></span>n resp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t of V<span class=\"_ _2\"></span>irgi<span class=\"_ _2\"></span>n Me<span class=\"_ _2\"></span>dia v N<span class=\"_ _2\"></span>TL Pen<span class=\"_ _2\"></span>sio<span class=\"_ _2\"></span>n T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ees<span class=\"_ _2\"></span> II Limited (<span class=\"_ _0\"></span>and others) calling int<span class=\"_ _0\"></span>o question the validity of rule amendments made<span class=\"_ _0\"></span> to defined benefit pension schemes c<span class=\"_ _0\"></span>ontr<span class=\"_ _2\"></span>acted-ou<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> on a Re<span class=\"_ _0\"></span>ference Scheme<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>est basis between April 19<span class=\"_ _2\"></span>97 and A<span class=\"_ _2\"></span>pr<span class=\"_ _2\"></span>il 20<span class=\"_ _2\"></span>16<span class=\"_ _2\"></span>. Whi<span class=\"_ _2\"></span>ls<span class=\"_ _2\"></span>t the H<span class=\"_ _2\"></span>igh C<span class=\"_ _2\"></span>our<span class=\"_ _2\"></span>t j<span class=\"_ _2\"></span>udg<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nt wa<span class=\"_ _2\"></span>s uph<span class=\"_ _2\"></span>eld b<span class=\"_ _2\"></span>y the C<span class=\"_ _2\"></span>our<span class=\"_ _2\"></span>t of A<span class=\"_ _2\"></span>pp<span class=\"_ _2\"></span>eal i<span class=\"_ _2\"></span>n July 20<span class=\"_ _0\"></span>24,<span class=\"_ _0\"></span> in June 20<span class=\"_ _0\"></span>25, the UK<span class=\"_ _0\"></span> Government announced that it<span class=\"_ _0\"></span> will introduce legislation t<span class=\"_ _0\"></span>o allow schemes<span class=\"_ _0\"></span> to retrospectively obtain actuarial confirmation of historical<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it ch<span class=\"_ _0\"></span>anges, if n<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>ssa<span class=\"_ _2\"></span>ry. T<span class=\"_ _2\"></span>his l<span class=\"_ _2\"></span>egi<span class=\"_ _2\"></span>sla<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d to rec<span class=\"_ _2\"></span>eiv<span class=\"_ _2\"></span>e Roya<span class=\"_ _2\"></span>l As<span class=\"_ _2\"></span>sen<span class=\"_ _2\"></span>t in mi<span class=\"_ _2\"></span>d-2026<span class=\"_ _2\"></span>. T<span class=\"_ _0\"></span>o da<span class=\"_ _2\"></span>te, n<span class=\"_ _2\"></span>eit<span class=\"_ _2\"></span>her<span class=\"_ _2\"></span> the T<span class=\"_ _0\"></span>rustees nor the<span class=\"_ _0\"></span> Group have<span class=\"_ _0\"></span> completed analysis to<span class=\"_ _0\"></span> determine whether the necessary confirmations were rec<span class=\"_ _0\"></span>eived from the Scheme<span class=\"_ _0\"></span> Actuar<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> for any<span class=\"_ _0\"></span> amendment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to the Group's sc<span class=\"_ _2\"></span>hem<span class=\"_ _2\"></span>es. A<span class=\"_ _2\"></span>s a res<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>, no r<span class=\"_ _2\"></span>elia<span class=\"_ _2\"></span>ble e<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>te of t<span class=\"_ _2\"></span>he po<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>l imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t can b<span class=\"_ _2\"></span>e mad<span class=\"_ _2\"></span>e at th<span class=\"_ _2\"></span>is s<span class=\"_ _2\"></span>tag<span class=\"_ _2\"></span>e, similar to<span class=\"_ _0\"></span> last year<span class=\"_ _0\"></span>, although the planned<span class=\"_ _0\"></span> change in legislation should<span class=\"_ _0\"></span> mitigate any potential impact<span class=\"_ _314\"> </span>The a<span class=\"_ _2\"></span>ssu<span class=\"_ _2\"></span>mpt<span class=\"_ _2\"></span>ions t<span class=\"_ _2\"></span>hat ar<span class=\"_ _2\"></span>e the m<span class=\"_ _2\"></span>ost s<span class=\"_ _2\"></span>igni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t to the a<span class=\"_ _2\"></span>moun<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span> repor<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed for the significant define<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it schemes<span class=\"_ _0\"></span> are the discount rate,<span class=\"_ _0\"></span> the inf<span class=\"_ _2\"></span>lation rat<span class=\"_ _0\"></span>e, pension increases<span class=\"_ _0\"></span> and mor<span class=\"_ _2\"></span>talit<span class=\"_ _2\"></span>y levels. Assumptions about these variables are based on<span class=\"_ _0\"></span> the environment in each<span class=\"_ _0\"></span> countr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Due to<span class=\"_ _0\"></span> the complexit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> involved in a valuation, and its long-<span class=\"_ _2\"></span>term<span class=\"_ _0\"></span> nature, a<span class=\"_ _0\"></span> def<span class=\"_ _2\"></span>ined bene<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>it obligation is highly sensitive to ch<span class=\"_ _0\"></span>anges in these assumptions. In par<span class=\"_ _2\"></span>ticular<span class=\"_ _0\"></span>, cha<span class=\"_ _2\"></span>nges t<span class=\"_ _2\"></span>o the d<span class=\"_ _2\"></span>iscou<span class=\"_ _2\"></span>nt ra<span class=\"_ _2\"></span>te and in<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on rate c<span class=\"_ _2\"></span>ould re<span class=\"_ _2\"></span>sul<span class=\"_ _2\"></span>t in material changes<span class=\"_ _0\"></span> to the carr<span class=\"_ _2\"></span>ying amounts of the Group<span class=\"_ _0\"></span>\u2019s pension and other post-retirement benefit obligat<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin the ne<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>t financial year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Risks for the<span class=\"_ _0\"></span> def<span class=\"_ _2\"></span>ined benefit schemes<span class=\"_ _314\"> </span>An increase in<span class=\"_ _0\"></span> pension liabilities could lead<span class=\"_ _0\"></span> to an incr<span class=\"_ _0\"></span>ease in the pension<span class=\"_ _314\"> </span>deficit or a reduction in any surplus. Defined benefit schemes are<span class=\"_ _314\"> </span>normally revalued by<span class=\"_ _0\"></span> ac<span class=\"_ _2\"></span>tuaries e<span class=\"_ _0\"></span>ver<span class=\"_ _2\"></span>y three y<span class=\"_ _0\"></span>ears<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Where any material<span class=\"_ _314\"> </span>fu<span class=\"_ _2\"></span>ndin<span class=\"_ _2\"></span>g gap is i<span class=\"_ _2\"></span>den<span class=\"_ _2\"></span>tif<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>is proc<span class=\"_ _2\"></span>ess<span class=\"_ _2\"></span>, the T<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>ust<span class=\"_ _2\"></span>ees w<span class=\"_ _2\"></span>ill ag<span class=\"_ _2\"></span>ree a<span class=\"_ _314\"> </span>schedule of c<span class=\"_ _0\"></span>ontr<span class=\"_ _2\"></span>ibutions and r<span class=\"_ _0\"></span>ecover<span class=\"_ _2\"></span>y plan<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h the s<span class=\"_ _0\"></span>ponsor company<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Such contributions would have a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> impac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> on the Group.<span class=\"_ _314\"> </span>Pension risk<span class=\"_ _0\"></span> arises from the potential deficit in the defined benefit<span class=\"_ _314\"> </span>pension schemes due<span class=\"_ _0\"></span> to a number<span class=\"_ _0\"></span> of factor<span class=\"_ _2\"></span>s. Some<span class=\"_ _0\"></span> key financial risks<span class=\"_ _314\"> </span>relevant f<span class=\"_ _0\"></span>or defined benef<span class=\"_ _2\"></span>it schemes<span class=\"_ _0\"></span> are:<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">If t<span class=\"_ _2\"></span>here i<span class=\"_ _2\"></span>s a redu<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion in c<span class=\"_ _2\"></span>orp<span class=\"_ _2\"></span>orate b<span class=\"_ _2\"></span>ond y<span class=\"_ _2\"></span>iel<span class=\"_ _2\"></span>ds. T<span class=\"_ _2\"></span>his in<span class=\"_ _2\"></span>creas<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span></span>the scheme\u2019<span class=\"_ _0\"></span>s liabilities which may<span class=\"_ _0\"></span> not be accompanied<span class=\"_ _0\"></span> by<span class=\"_ _314\"> </span>a corresponding<span class=\"_ _0\"></span> increase in the schemes<span class=\"_ _0\"></span>\u2019 assets.<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">If investment returns are<span class=\"_ _0\"></span> lower than assumed.<span class=\"_ _314\"> </span></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">If i<span class=\"_ _2\"></span>nf<span class=\"_ _2\"></span>lati<span class=\"_ _2\"></span>on is hi<span class=\"_ _2\"></span>ghe<span class=\"_ _2\"></span>r than e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d, or av<span class=\"_ _2\"></span>erag<span class=\"_ _2\"></span>e inf<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>ion ex<span class=\"_ _2\"></span>pe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons<span class=\"_ _314\"> </span></span>increase.<span class=\"_ _0\"></span> This will increase the li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> through higher indexing of<span class=\"_ _314\"> </span>pension pa<span class=\"_ _0\"></span>yment<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">If members live longer than e<span class=\"_ _0\"></span>xp<span class=\"_ _2\"></span>ected. This would<span class=\"_ _0\"></span> increase the length<span class=\"_ _314\"> </span></span>of t<span class=\"_ _2\"></span>ime for w<span class=\"_ _2\"></span>hich p<span class=\"_ _2\"></span>ens<span class=\"_ _2\"></span>ions h<span class=\"_ _2\"></span>ave to be p<span class=\"_ _2\"></span>aid.<span class=\"_ _314\"> </span>The Group is<span class=\"_ _0\"></span> exposed to the creditwor<span class=\"_ _2\"></span>thiness of the buy-in insurance<span class=\"_ _314\"> </span>providers. A failure o<span class=\"_ _0\"></span>f the buy-<span class=\"_ _2\"></span>in ins<span class=\"_ _0\"></span>urance provider would r<span class=\"_ _0\"></span>educe the<span class=\"_ _314\"> </span>pe<span class=\"_ _2\"></span>nsion a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d coul<span class=\"_ _2\"></span>d lead t<span class=\"_ _2\"></span>o a pens<span class=\"_ _2\"></span>ion def<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>it ma<span class=\"_ _2\"></span>teria<span class=\"_ _2\"></span>lisi<span class=\"_ _2\"></span>ng, o<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>an increase<span class=\"_ _0\"></span> in the pension deficit<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> and the need for c<span class=\"_ _0\"></span>ontr<span class=\"_ _2\"></span>ibutions from<span class=\"_ _314\"> </span>the Group.<span class=\"_ _314\"> </span>Risk management approach<span class=\"_ _314\"> </span>Du<span class=\"_ _2\"></span>e to the b<span class=\"_ _2\"></span>road<span class=\"_ _2\"></span>ly fu<span class=\"_ _2\"></span>ll bu<span class=\"_ _2\"></span>y-<span class=\"_ _2\"></span>ins in p<span class=\"_ _2\"></span>lace fo<span class=\"_ _2\"></span>r the L<span class=\"_ _2\"></span>SEG<span class=\"_ _2\"></span>PS a<span class=\"_ _2\"></span>nd SP<span class=\"_ _2\"></span>S and<span class=\"_ _314\"> </span>par<span class=\"_ _2\"></span>tial buy-in in place<span class=\"_ _0\"></span> for the RPF<span class=\"_ _0\"></span>, changes<span class=\"_ _0\"></span> in the present value<span class=\"_ _0\"></span> of the<span class=\"_ _314\"> </span>insured liabilities ar<span class=\"_ _0\"></span>e broadly matched by<span class=\"_ _0\"></span> the asset held (i.e.,<span class=\"_ _0\"></span> most of<span class=\"_ _314\"> </span>th<span class=\"_ _2\"></span>e risk<span class=\"_ _2\"></span>s note<span class=\"_ _2\"></span>d abov<span class=\"_ _2\"></span>e are hed<span class=\"_ _2\"></span>ged<span class=\"_ _2\"></span>).<span class=\"_ _314\"> </span>In addition, the RPF holds other liabilit<span class=\"_ _2\"></span>y-matching assets which are<span class=\"_ _314\"> </span>intended to<span class=\"_ _0\"></span> hedge movements in expected interest rates and<span class=\"_ _0\"></span> inf<span class=\"_ _2\"></span>lation.<span class=\"_ _314\"> </span>The R<span class=\"_ _2\"></span>PF ho<span class=\"_ _2\"></span>lds a r<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>e of liqu<span class=\"_ _2\"></span>id as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t can b<span class=\"_ _2\"></span>e sold fo<span class=\"_ _2\"></span>r use a<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>collateral f<span class=\"_ _0\"></span>or these liabilit<span class=\"_ _2\"></span>y-matching assets, if required.<span class=\"_ _314\"> </span>Future<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it pa<span class=\"_ _0\"></span>yment<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>The following table<span class=\"_ _0\"></span> provides expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> benef<span class=\"_ _2\"></span>it payments under the<span class=\"_ _314\"> </span>Group\u2019<span class=\"_ _0\"></span>s Large UK schemes<span class=\"_ _0\"></span> as at 31 December:<span class=\"_ _314\"> </span><table class=\"s w604 h269\" id=\"_82e8d8e1-af7d-44f9-a256-da2be2491b6a\"><tr><td></td><td class=\"c n x4e9 y22cf w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y22cf w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y22d1 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w605 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Les<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>n 1 year<span class=\"_ _314\"> </span></div></td><td class=\"c n xa00 y22d9 w15b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">111<span class=\"_ _314\"> </span></div></td><td class=\"c n xa01 y22d9 w40a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">106<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22eb w606 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Bet<span class=\"_ _2\"></span>we<span class=\"_ _2\"></span>en 1 an<span class=\"_ _2\"></span>d 2 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xa02 y22eb w607 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">113<span class=\"_ _314\"> </span></div></td><td class=\"c n xa03 y22eb w608 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls75 ws9e\">110<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w609 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Bet<span class=\"_ _2\"></span>we<span class=\"_ _2\"></span>en 2 an<span class=\"_ _2\"></span>d 5 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xa04 y2288 w2a8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">360<span class=\"_ _314\"> </span></div></td><td class=\"c n xa05 y2288 w60a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">350<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w60b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ov<span class=\"_ _2\"></span>er 5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xa06 y228f wb9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">656<span class=\"_ _314\"> </span></div></td><td class=\"c n xa07 y228f w13b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">652<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w60c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> benefit payments<span class=\"_ _314\"> </span></div></td><td class=\"c n xa08 y2069 w60d h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">1<span class=\"_ _2\"></span>,24<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xa09 h193 y22ec ff76 fs129 fc1 sc0 lsa8 wsd5\">1,21<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></td></tr></table>The w<span class=\"_ _2\"></span>eigh<span class=\"_ _2\"></span>ted ave<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>e dura<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of the d<span class=\"_ _2\"></span>ef<span class=\"_ _2\"></span>ined b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t obli<span class=\"_ _2\"></span>gat<span class=\"_ _2\"></span>ions a<span class=\"_ _2\"></span>s at<span class=\"_ _314\"> </span>31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2025 is 12 ye<span class=\"_ _2\"></span>ars (<span class=\"_ _2\"></span>202<span class=\"_ _0\"></span>4: 12 yea<span class=\"_ _2\"></span>rs).",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDefinedBenefitPlansExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-561": {
   "value": "Sensitiv<span class=\"_ _2\"></span>ity analysis<span class=\"_ _314\"> </span>The measurement<span class=\"_ _0\"></span> of the Large UK schemes<span class=\"_ _0\"></span> obligation<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> is sensiti<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> to changes<span class=\"_ _0\"></span> in cert<span class=\"_ _2\"></span>ain<span class=\"_ _0\"></span> key assumptions. The sensitivit<span class=\"_ _2\"></span>y analysis below shows how a<span class=\"_ _0\"></span> reasonably possible increase in<span class=\"_ _0\"></span> a par<span class=\"_ _2\"></span>ticular assumption would, in isolation, r<span class=\"_ _0\"></span>esult in an increase<span class=\"_ _0\"></span> or decrease in<span class=\"_ _0\"></span> the present val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he def<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>ed ben<span class=\"_ _2\"></span>ef<span class=\"_ _2\"></span>it ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns as at 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span><table class=\"s w5f8 h268\" id=\"_63b15651-ed93-40b7-8b04-932c18b4cc5b\"><tr><td></td><td></td><td></td><td class=\"t m0 x9f1 h13 y22e6 ff75 fs6 fc1 sc0 lse5 ws125\">(Decrease)/increase<span class=\"_ _314\"> </span></td></tr><tr><td></td><td></td><td></td><td class=\"c x9f3 y22e7 w5f9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws75\">in scheme obligations</div><div class=\"t m0 x9f2 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x9f4 hb y22e8 ff76 fs6 fc1 sc0 ls7a wsa4\">Change in<span class=\"_ _0\"></span> </td><td class=\"c n x4e9 y22e9 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y22e9 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21fd w5fa h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">Assumption<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x9f5 hb y22ea ff76 fs6 fc1 sc0 ls41 ws56\">assumption<span class=\"_ _314\"> </span></td><td class=\"c n x9f6 y21fd w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x9f7 y21fd w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w5fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Discount rate<span class=\"_ _314\"> </span></div></td><td class=\"c n x9f8 y213e w5fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">+<span class=\"_ _2\"></span>0.5%<span class=\"_ _314\"> </span></div></td><td class=\"c n x9f9 y213e w5fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">(103<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fa y213e w5ff h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">(110)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w5e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Price inflation<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fb y2068 w5fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">+<span class=\"_ _2\"></span>0.5%<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fc y2068 w600 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls89 ws79\">56<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fd y2068 w90 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">60<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w601 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Mor<span class=\"_ _2\"></span>talit<span class=\"_ _2\"></span>y rat<span class=\"_ _0\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fe y2069 w602 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 ws98\">+1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></div></td><td class=\"c n x9ff y2069 w603 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td><td class=\"c n x976 y2069 w105 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls10e ws116\">64<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>The sensitivit<span class=\"_ _2\"></span>y an<span class=\"_ _0\"></span>aly<span class=\"_ _2\"></span>sis<span class=\"_ _0\"></span> may not be<span class=\"_ _0\"></span> representative of an<span class=\"_ _0\"></span> actual change in<span class=\"_ _0\"></span> the scheme obligations as it<span class=\"_ _0\"></span> is unlikely that<span class=\"_ _0\"></span> changes in assumptions<span class=\"_ _0\"></span> would occur in<span class=\"_ _0\"></span> isolation of one<span class=\"_ _0\"></span> another. The analysis is<span class=\"_ _0\"></span> done in a<span class=\"_ _0\"></span> similar way<span class=\"_ _0\"></span> to calculating the scheme<span class=\"_ _0\"></span> obligations recognised in<span class=\"_ _0\"></span> the ba<span class=\"_ _2\"></span>lan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et in t<span class=\"_ _2\"></span>hat i<span class=\"_ _2\"></span>t use<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e proj<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted u<span class=\"_ _2\"></span>nit c<span class=\"_ _2\"></span>red<span class=\"_ _2\"></span>it me<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span>od at t<span class=\"_ _2\"></span>he en<span class=\"_ _2\"></span>d of th<span class=\"_ _2\"></span>e yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSensitivityAnalysisForActuarialAssumptionsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-531": {
   "value": "13. Rec<span class=\"_ _0\"></span>eivables<span class=\"_ _314\"> </span>Rece<span class=\"_ _2\"></span>ivab<span class=\"_ _2\"></span>les mai<span class=\"_ _2\"></span>nly con<span class=\"_ _2\"></span>sist of a<span class=\"_ _2\"></span>mount<span class=\"_ _2\"></span>s owed to u<span class=\"_ _2\"></span>s by custom<span class=\"_ _2\"></span>ers a<span class=\"_ _2\"></span>nd amo<span class=\"_ _2\"></span>unts t<span class=\"_ _2\"></span>hat w<span class=\"_ _2\"></span>e pay to ou<span class=\"_ _2\"></span>r suppl<span class=\"_ _2\"></span>iers i<span class=\"_ _2\"></span>n adva<span class=\"_ _2\"></span>nce. Thi<span class=\"_ _2\"></span>s note in<span class=\"_ _2\"></span>cludes<span class=\"_ _2\"></span> f<span class=\"_ _2\"></span>inan<span class=\"_ _2\"></span>ce lease re<span class=\"_ _2\"></span>ceiva<span class=\"_ _2\"></span>bles re<span class=\"_ _2\"></span>cogni<span class=\"_ _2\"></span>sed whe<span class=\"_ _2\"></span>re the G<span class=\"_ _2\"></span>roup ac<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>s a lessor. See n<span class=\"_ _2\"></span>ote 16<span class=\"_ _2\"></span>.2 for m<span class=\"_ _2\"></span>ore info<span class=\"_ _2\"></span>rmat<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>n the Gr<span class=\"_ _2\"></span>oup\u2019s leasin<span class=\"_ _2\"></span>g act<span class=\"_ _2\"></span>ivi<span class=\"_ _2\"></span>ties<span class=\"_ _2\"></span>.  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>ra<span class=\"_ _2\"></span>de<span class=\"_ _0\"></span> receivables<span class=\"ff76 ls6 ws7\"> are initially recognised at<span class=\"_ _0\"></span> the amount of the </span>con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion t<span class=\"_ _2\"></span>hat is u<span class=\"_ _2\"></span>ncon<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>iona<span class=\"_ _2\"></span>lly d<span class=\"_ _2\"></span>ue to th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p. They a<span class=\"_ _2\"></span>re sub<span class=\"_ _2\"></span>sequ<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>ly me<span class=\"_ _2\"></span>asure<span class=\"_ _2\"></span>d at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>, les<span class=\"_ _2\"></span>s any ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted credit loss (ECL).<span class=\"_ _0\"></span> Our approach to<span class=\"_ _0\"></span> calculating ECL provisions is<span class=\"_ _0\"></span> des<span class=\"_ _2\"></span>cri<span class=\"_ _2\"></span>bed in n<span class=\"_ _2\"></span>ote 17<span class=\"_ _0\"></span>. Th<span class=\"_ _2\"></span>e creat<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>nd rele<span class=\"_ _2\"></span>ase of s<span class=\"_ _2\"></span>uch pro<span class=\"_ _2\"></span>vis<span class=\"_ _2\"></span>ions<span class=\"_ _2\"></span> are r<span class=\"_ _0\"></span>ecognised in operating expenses in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Fees rec<span class=\"_ _0\"></span>eivable<span class=\"ff76 ls6 ws7\"> ar<span class=\"_ _0\"></span>e recognised when the Group<span class=\"_ _0\"></span> has an </span>unconditional right<span class=\"_ _0\"></span> to conside<span class=\"_ _0\"></span>ration in ex<span class=\"_ _0\"></span>change for<span class=\"_ _0\"></span> goods or se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ferre<span class=\"_ _2\"></span>d, bu<span class=\"_ _2\"></span>t no fee in<span class=\"_ _2\"></span>voice h<span class=\"_ _2\"></span>as be<span class=\"_ _2\"></span>en iss<span class=\"_ _2\"></span>ued<span class=\"_ _2\"></span>. Amount<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e transferred to trade rece<span class=\"_ _0\"></span>iv<span class=\"_ _2\"></span>ables<span class=\"_ _0\"></span> when an invoice has been<span class=\"_ _0\"></span> issued.<span class=\"_ _314\"> </span>Other receivables<span class=\"ff76 ls6 ws7\"> are initially rec<span class=\"_ _0\"></span>ognised at fair value and </span>subsequently at amor<span class=\"_ _2\"></span>tised cost, less any loss allowanc<span class=\"_ _0\"></span>e as described in note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>en a rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble is n<span class=\"_ _2\"></span>o lon<span class=\"_ _2\"></span>ger ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted to b<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>red, t<span class=\"_ _2\"></span>he fu<span class=\"_ _2\"></span>ll amo<span class=\"_ _2\"></span>unt is w<span class=\"_ _2\"></span>ri<span class=\"_ _2\"></span>tte<span class=\"_ _2\"></span>n of<span class=\"_ _2\"></span>f. We wil<span class=\"_ _2\"></span>l cont<span class=\"_ _2\"></span>inu<span class=\"_ _2\"></span>e to seek r<span class=\"_ _2\"></span>ecover<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>nd any subsequent amounts recov<span class=\"_ _0\"></span>ered against amounts previously writ<span class=\"_ _2\"></span>ten off are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement.<span class=\"_ _314\"> </span>Se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>6.<span class=\"_ _2\"></span>2 for th<span class=\"_ _2\"></span>e <span class=\"ff75 ls7 wsa\">net in<span class=\"_ _0\"></span>vestment in leases<span class=\"ff76 ls6 ws7\"> accounting policy<span class=\"_ _0\"></span>, </span></span>wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let<span class=\"_ _2\"></span>s prop<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts to a third part<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>The Group<span class=\"_ _0\"></span> has a tax i<span class=\"_ _0\"></span>ndemnit<span class=\"_ _2\"></span>y agr<span class=\"_ _0\"></span>eement with Thomson Reute<span class=\"_ _0\"></span>rs for any<span class=\"_ _0\"></span> tax liabilities incurred and tax rece<span class=\"_ _0\"></span>iv<span class=\"_ _2\"></span>ables<span class=\"_ _0\"></span> due before Refinit<span class=\"_ _2\"></span>iv (previously the Thomson R<span class=\"_ _0\"></span>euters Financial &amp; Risk Business) separated fr<span class=\"_ _0\"></span>om Thomson Reuters on 1<span class=\"_ _0\"></span> Oc<span class=\"_ _2\"></span>tober 2<span class=\"_ _0\"></span>018<span class=\"_ _2\"></span>. The <span class=\"ff75 ls5 ws5\">tax indemnity receivable<span class=\"ff76\"> is<span class=\"_ _0\"></span> recognised for<span class=\"_ _0\"></span> and measured </span></span>on the same basis<span class=\"_ _0\"></span> as the corresponding indemnified tax liabilities<span class=\"_ _2\"></span>. The indemnified tax liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are recognised within current<span class=\"_ _0\"></span> ta<span class=\"_ _2\"></span>x payable in the balanc<span class=\"_ _0\"></span>e sheet. When there is a<span class=\"_ _0\"></span> change in the indemnif<span class=\"_ _2\"></span>ied tax li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies, which<span class=\"_ _0\"></span> is recognised within tax in the income statement, there is an<span class=\"_ _0\"></span> of<span class=\"_ _2\"></span>fsett<span class=\"_ _2\"></span>ing change<span class=\"_ _0\"></span> in the tax indemnit<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>eceivable. (<span class=\"_ _2\"></span>The tax indemnity payable is described in no<span class=\"_ _2\"></span>te 15.)<span class=\"_ _314\"> </span>Contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"ff76 ls3 ws3\"> are reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has a con<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>al </span>right to<span class=\"_ _0\"></span> consideration from<span class=\"_ _0\"></span> a customer in<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> for goods or serv<span class=\"_ _2\"></span>ices<span class=\"_ _0\"></span> trans<span class=\"_ _2\"></span>ferred.<span class=\"_ _0\"></span> Cont<span class=\"_ _2\"></span>ract assets are transferred to trade receivables when the entitlement to payment becomes unc<span class=\"_ _2\"></span>ondi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>onal an<span class=\"_ _2\"></span>d onl<span class=\"_ _2\"></span>y the p<span class=\"_ _2\"></span>ass<span class=\"_ _2\"></span>age of t<span class=\"_ _2\"></span>ime i<span class=\"_ _2\"></span>s requ<span class=\"_ _2\"></span>ired be<span class=\"_ _2\"></span>fore payment is due<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><table class=\"s w60e h26a\" id=\"_4b9ef202-605a-42eb-b566-c2de9e8b4f11\"><tr><td></td><td></td><td class=\"c n x4c5 y22ed w26f h21b\"><div class=\"t m2 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y22ed w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x68d y22ee w218 h21b\"><div class=\"t m2 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x68e y22ee w34 h21b\"><div class=\"t m2 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x68f y22ee w35 h21b\"><div class=\"t m2 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h187 y22ef ff75 fs129 fc1 sc0 lsad wsdc\">Non<span class=\"_ _2\"></span>-current<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22f0 w60f h21c\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s in l<span class=\"_ _2\"></span>eas<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa0a y22f0 w95 h21c\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">53<span class=\"_ _314\"> </span></div></td><td class=\"c n xa0b y22f0 wbe h21c\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22f1 w610 h21c\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>a<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> indemnit<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>eceivable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa0c y22f1 w139 h21c\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">62<span class=\"_ _314\"> </span></div></td><td class=\"c n xa0d y22f1 w611 h21c\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls72 ws9b\">61<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22f2 w612 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Deposit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> receivable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa0e y22f2 w613 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls75 ws9e\">19<span class=\"_ _314\"> </span></div></td><td class=\"c n xa0f y22f2 wf9 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22f3 w614 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other receivables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa10 y22f3 w615 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n xa11 y22f3 w38b h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y22f4 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current rec<span class=\"_ _0\"></span>eivables classif<span class=\"_ _2\"></span>ied </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22f5 w616 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">as financial assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xa12 y22f5 w617 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xa13 y22f5 w618 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls7b wse0\">137<span class=\"_ _314\"> </span></div></td><td class=\"c n xa14 y22f5 w619 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">141<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22f6 w61a h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Prepayments<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa15 y22f6 w574 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">59<span class=\"_ _314\"> </span></div></td><td class=\"c n xa16 y22f6 w61b h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">23<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22f7 w61c h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa17 y22f7 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xa18 y22f7 w61d h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls75 ws9e\">11<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x9c3 y22f8 w157 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls75 ws9e\">196<span class=\"_ _314\"> </span></div></td><td class=\"c n xa19 y22f8 w476 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws9f\">175<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h187 y22f9 ff75 fs129 fc1 sc0 ls76 ws9f\">Current </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22fa w61e h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _0\"></span>rade r<span class=\"_ _0\"></span>eceivables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa1a y22fa w21d h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">957<span class=\"_ _314\"> </span></div></td><td class=\"c n xa1b y22fa w61f h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls73 ws9c\">951<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22fb w620 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Fees receivable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa1c y22fb w571 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">388<span class=\"_ _314\"> </span></div></td><td class=\"c n xa1d y22fb w621 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsab wsd4\">300<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y22fc ff76 fs129 fc1 sc0 ls89 ws18c\">Expec<span class=\"_ _2\"></span>ted c<span class=\"_ _0\"></span>redit loss on<span class=\"_ _0\"></span> tr<span class=\"_ _2\"></span>ade<span class=\"_ _0\"></span> receivables </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22fd w622 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">and fees<span class=\"_ _0\"></span> receivable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa1e y22fd w2d0 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(23)<span class=\"_ _314\"> </span></div></td><td class=\"c n xa1f y22fd w623 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsb6\">(20)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22fe w624 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Net trade rec<span class=\"_ _0\"></span>eivables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x621 y22fe w625 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,322<span class=\"_ _314\"> </span></div></td><td class=\"c n xa20 y22fe w626 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">1,<span class=\"_ _2\"></span>231<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22ff w60f h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s in l<span class=\"_ _2\"></span>eas<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa21 y22ff wa5 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n xa22 y22ff w20a h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2300 w612 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Deposit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> receivable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa23 y2300 wd6 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls88 wsb4\">48<span class=\"_ _314\"> </span></div></td><td class=\"c n xa24 y2300 w47b h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2301 w627 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other receivables</div><div class=\"t m2 xa25 h194 y20d4 ff76 fs12a fc1 sc0 lsa6 wsd2\">1,2<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa26 y2301 w628 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6a ws1\">70<span class=\"_ _314\"> </span></div></td><td class=\"c n xa27 y2301 w164 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">90<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y2302 ff76 fs129 fc1 sc0 ls6c ws7e\">Current rec<span class=\"_ _0\"></span>eivables classif<span class=\"_ _2\"></span>ied </td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y22a3 w629 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">as financial assets</div><div class=\"t m2 xa28 h194 y2242 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x69e y22a3 wc0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xa29 y22a3 w62a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsee ws55\">1,445<span class=\"_ _314\"> </span></div></td><td class=\"c n xa2a y22a3 w62b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>3<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a4 w61a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Prepayments<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa2b y22a4 w571 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">206<span class=\"_ _314\"> </span></div></td><td class=\"c n xa2c y22a4 w62c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">218<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w61c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa17 y2297 wa5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n xa2d y2297 w38b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2303 w62d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other taxes receivable</div><div class=\"t m2 xa2e h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa26 y2303 w62e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">97<span class=\"_ _314\"> </span></div></td><td class=\"c n xa2f y2303 w101 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x4c5 y2289 w62f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,753<span class=\"_ _314\"> </span></div></td><td class=\"c n xa30 y2289 wd0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">1,6<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w630 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal rec<span class=\"_ _0\"></span>eivables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa31 y2069 w631 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">1,949<span class=\"_ _314\"> </span></div></td><td class=\"t m2 xa32 h193 y2304 ff76 fs129 fc1 sc0 lsa1 wsda\">1,840<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>Other receivables include \u00a36<span class=\"_ _0\"></span> million (202<span class=\"_ _0\"></span>4: \u00a354 million<span class=\"_ _0\"></span>) from matched<span class=\"_ _0\"></span> principal trades wit<span class=\"_ _2\"></span>hin the Group\u2019<span class=\"_ _0\"></span>s T<span class=\"_ _0\"></span>radeweb business<span class=\"_ _0\"></span> that had passed their<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement da<span class=\"_ _0\"></span>te. An amount<span class=\"_ _0\"></span> of \u00a34<span class=\"_ _0\"></span> million (20<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>54 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion) i<span class=\"_ _2\"></span>s sho<span class=\"_ _2\"></span>wn wi<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span>in ot<span class=\"_ _2\"></span>her p<span class=\"_ _2\"></span>aya<span class=\"_ _2\"></span>ble<span class=\"_ _2\"></span>s in no<span class=\"_ _2\"></span>te 15<span class=\"_ _2\"></span>. All t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>des we<span class=\"_ _2\"></span>re se<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>led w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin a<span class=\"_ _2\"></span> short period after the balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> Ot<span class=\"_ _2\"></span>her<span class=\"_ _0\"></span> receivables also include<span class=\"_ _0\"></span> \u00a315 million (20<span class=\"_ _0\"></span>24:<span class=\"_ _0\"></span> nil) as margin<span class=\"_ _0\"></span> receivable on re<span class=\"_ _0\"></span>verse repurchase c<span class=\"_ _0\"></span>ontrac<span class=\"_ _2\"></span>ts within the Group\u2019<span class=\"_ _0\"></span>s clearing business.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>Fo<span class=\"_ _2\"></span>r 2024, ot<span class=\"_ _2\"></span>her t<span class=\"_ _2\"></span>axes r<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble o<span class=\"_ _2\"></span>f \u00a368 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on ha<span class=\"_ _2\"></span>ve be<span class=\"_ _2\"></span>en di<span class=\"_ _2\"></span>sag<span class=\"_ _2\"></span>gre<span class=\"_ _2\"></span>gate<span class=\"_ _2\"></span>d fro<span class=\"_ _2\"></span>m oth<span class=\"_ _2\"></span>er rec<span class=\"_ _2\"></span>eiv<span class=\"_ _2\"></span>ab<span class=\"_ _2\"></span>les to b<span class=\"_ _2\"></span>e con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t wi<span class=\"_ _2\"></span>th 2025 a<span class=\"_ _2\"></span>nd cur<span class=\"_ _2\"></span>ren<span class=\"_ _2\"></span>t rec<span class=\"_ _2\"></span>eiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>es cl<span class=\"_ _2\"></span>ass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s fi<span class=\"_ _2\"></span>nan<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>l ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s have been<span class=\"_ _0\"></span> re-<span class=\"_ _2\"></span>presented<span class=\"_ _0\"></span> to ex<span class=\"_ _0\"></span>clude these other taxes<span class=\"_ _0\"></span> receivable<span class=\"_ _314\"> </span>Prov<span class=\"_ _2\"></span>ision f<span class=\"_ _2\"></span>or expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d cred<span class=\"_ _2\"></span>it loss<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span>Mo<span class=\"_ _2\"></span>vemen<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>n the G<span class=\"_ _2\"></span>roup\u2019s pr<span class=\"_ _2\"></span>ovis<span class=\"_ _2\"></span>ion for ex<span class=\"_ _2\"></span>pe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d cred<span class=\"_ _2\"></span>it los<span class=\"_ _2\"></span>ses o<span class=\"_ _2\"></span>n tra<span class=\"_ _2\"></span>de rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>bles a<span class=\"_ _2\"></span>nd fee<span class=\"_ _2\"></span>s recei<span class=\"_ _2\"></span>vab<span class=\"_ _2\"></span>le are as f<span class=\"_ _2\"></span>ollow<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w632 h26b\" id=\"_d3e2482e-fd27-42af-b430-8dde1a801e21\"><tr><td></td><td class=\"c n x4e9 y2305 w31 h21b\"><div class=\"t m2 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y2305 w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y2306 w34 h21b\"><div class=\"t m2 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y2306 w35 h21b\"><div class=\"t m2 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w342 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td class=\"c n xa33 y213d w38f h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n xa34 y213d w633 h225\"><div class=\"t m2 x1e4 h193 y204b ff76 fs6 fc1 sc0 ls88 wsb4\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2176 w634 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">New provisions<span class=\"_ _0\"></span> for e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>ted c<span class=\"_ _0\"></span>redit losses<span class=\"_ _314\"> </span></div></td><td class=\"c n xa35 y2176 w635 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6e ws98\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xa36 y2176 w636 h225\"><div class=\"t m2 x1e4 h193 y204b ff76 fs6 fc1 sc0 ls7a wsbe\">14<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w637 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> wri<span class=\"_ _2\"></span>tten off as uncollectable<span class=\"_ _314\"> </span></div></td><td class=\"c n xa37 y20da w4ea h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>24)<span class=\"_ _314\"> </span></div></td><td class=\"c n xa38 y20da w638 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls117 ws18d\">(7)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td class=\"c n xa39 y2069 w33c h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">23<span class=\"_ _314\"> </span></div></td><td class=\"t m2 xa3a hb y2307 ff76 fs6 fc1 sc0 ls118 ws18e\">20<span class=\"_ _314\"> </span></td></tr></table>Net investments in leases: Group as<span class=\"_ _0\"></span> lessor<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p sub<span class=\"_ _2\"></span>-l<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s a numb<span class=\"_ _2\"></span>er of it<span class=\"_ _2\"></span>s pr<span class=\"_ _2\"></span>oper<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ies w<span class=\"_ _2\"></span>here t<span class=\"_ _2\"></span>here i<span class=\"_ _2\"></span>s surp<span class=\"_ _2\"></span>lus spa<span class=\"_ _2\"></span>ce or t<span class=\"_ _2\"></span>he of<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ice is no l<span class=\"_ _2\"></span>ong<span class=\"_ _2\"></span>er use<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e busi<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>s. The G<span class=\"_ _2\"></span>roup h<span class=\"_ _2\"></span>as both finance and operating sub-<span class=\"_ _2\"></span>leases. Net investments in leases are shown within receivables above.<span class=\"_ _314\"> </span>The future minimum<span class=\"_ _0\"></span> rentals receivable<span class=\"_ _314\"> </span>1 as at 3<span class=\"_ _2\"></span>1 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er are as fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w339 h269\" id=\"_9bce5916-06ba-4ec8-8d0f-50b2154b3344\"><tr><td></td><td class=\"c n x4e9 y22cf w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y22cf w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y22d1 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y22d1 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a4 w605 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Les<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>n 1 year<span class=\"_ _314\"> </span></div></td><td class=\"c n xa3b y22a4 we0 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td><td class=\"c n x934 y22a4 w9d h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w606 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Bet<span class=\"_ _2\"></span>we<span class=\"_ _2\"></span>en 1 an<span class=\"_ _2\"></span>d 2 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xa3c y2297 w17d h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td><td class=\"c n xa3d y2297 w9d h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2303 w609 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Bet<span class=\"_ _2\"></span>we<span class=\"_ _2\"></span>en 2 an<span class=\"_ _2\"></span>d 5 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xa3e y2303 w639 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">16<span class=\"_ _314\"> </span></div></td><td class=\"c n xa3f y2303 w555 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2289 w60b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ov<span class=\"_ _2\"></span>er 5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xa40 y2289 w63a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">36<span class=\"_ _314\"> </span></div></td><td class=\"c n xa41 y2289 w63b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">41<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w297 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa5 wsd1\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _314\"> </span></div></td><td class=\"c n x9fc y2069 w8c h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsab wsd4\">64<span class=\"_ _314\"> </span></div></td><td class=\"t m2 xa3a h193 y2304 ff76 fs129 fc1 sc0 ls72 ws9b\">70<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>The future<span class=\"_ _0\"></span> minimum rentals receivable<span class=\"_ _0\"></span> above reflect the gross r<span class=\"_ _0\"></span>ental receivable and ar<span class=\"_ _0\"></span>e not discounted. The<span class=\"_ _0\"></span> net investments in leases disclosed<span class=\"_ _0\"></span> within receivables are<span class=\"_ _0\"></span> discounted to reflect the net present<span class=\"_ _0\"></span> value to the<span class=\"_ _0\"></span> Group at the<span class=\"_ _0\"></span> year end.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-492": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>ra<span class=\"_ _2\"></span>de<span class=\"_ _0\"></span> receivables<span class=\"ff76 ls6 ws7\"> are initially recognised at<span class=\"_ _0\"></span> the amount of the </span>con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion t<span class=\"_ _2\"></span>hat is u<span class=\"_ _2\"></span>ncon<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>iona<span class=\"_ _2\"></span>lly d<span class=\"_ _2\"></span>ue to th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p. They a<span class=\"_ _2\"></span>re sub<span class=\"_ _2\"></span>sequ<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>ly me<span class=\"_ _2\"></span>asure<span class=\"_ _2\"></span>d at am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>, les<span class=\"_ _2\"></span>s any ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted credit loss (ECL).<span class=\"_ _0\"></span> Our approach to<span class=\"_ _0\"></span> calculating ECL provisions is<span class=\"_ _0\"></span> des<span class=\"_ _2\"></span>cri<span class=\"_ _2\"></span>bed in n<span class=\"_ _2\"></span>ote 17<span class=\"_ _0\"></span>. Th<span class=\"_ _2\"></span>e creat<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>nd rele<span class=\"_ _2\"></span>ase of s<span class=\"_ _2\"></span>uch pro<span class=\"_ _2\"></span>vis<span class=\"_ _2\"></span>ions<span class=\"_ _2\"></span> are r<span class=\"_ _0\"></span>ecognised in operating expenses in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Fees rec<span class=\"_ _0\"></span>eivable<span class=\"ff76 ls6 ws7\"> ar<span class=\"_ _0\"></span>e recognised when the Group<span class=\"_ _0\"></span> has an </span>unconditional right<span class=\"_ _0\"></span> to conside<span class=\"_ _0\"></span>ration in ex<span class=\"_ _0\"></span>change for<span class=\"_ _0\"></span> goods or se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vice<span class=\"_ _2\"></span>s tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ferre<span class=\"_ _2\"></span>d, bu<span class=\"_ _2\"></span>t no fee in<span class=\"_ _2\"></span>voice h<span class=\"_ _2\"></span>as be<span class=\"_ _2\"></span>en iss<span class=\"_ _2\"></span>ued<span class=\"_ _2\"></span>. Amount<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e transferred to trade rece<span class=\"_ _0\"></span>iv<span class=\"_ _2\"></span>ables<span class=\"_ _0\"></span> when an invoice has been<span class=\"_ _0\"></span> issued.<span class=\"_ _314\"> </span>Other receivables<span class=\"ff76 ls6 ws7\"> are initially rec<span class=\"_ _0\"></span>ognised at fair value and </span>subsequently at amor<span class=\"_ _2\"></span>tised cost, less any loss allowanc<span class=\"_ _0\"></span>e as described in note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>en a rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble is n<span class=\"_ _2\"></span>o lon<span class=\"_ _2\"></span>ger ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted to b<span class=\"_ _2\"></span>e recove<span class=\"_ _2\"></span>red, t<span class=\"_ _2\"></span>he fu<span class=\"_ _2\"></span>ll amo<span class=\"_ _2\"></span>unt is w<span class=\"_ _2\"></span>ri<span class=\"_ _2\"></span>tte<span class=\"_ _2\"></span>n of<span class=\"_ _2\"></span>f. We wil<span class=\"_ _2\"></span>l cont<span class=\"_ _2\"></span>inu<span class=\"_ _2\"></span>e to seek r<span class=\"_ _2\"></span>ecover<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>nd any subsequent amounts recov<span class=\"_ _0\"></span>ered against amounts previously writ<span class=\"_ _2\"></span>ten off are<span class=\"_ _0\"></span> recognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement.<span class=\"_ _314\"> </span>Se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>6.<span class=\"_ _2\"></span>2 for th<span class=\"_ _2\"></span>e <span class=\"ff75 ls7 wsa\">net in<span class=\"_ _0\"></span>vestment in leases<span class=\"ff76 ls6 ws7\"> accounting policy<span class=\"_ _0\"></span>, </span></span>wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let<span class=\"_ _2\"></span>s prop<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts to a third part<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>The Group<span class=\"_ _0\"></span> has a tax i<span class=\"_ _0\"></span>ndemnit<span class=\"_ _2\"></span>y agr<span class=\"_ _0\"></span>eement with Thomson Reute<span class=\"_ _0\"></span>rs for any<span class=\"_ _0\"></span> tax liabilities incurred and tax rece<span class=\"_ _0\"></span>iv<span class=\"_ _2\"></span>ables<span class=\"_ _0\"></span> due before Refinit<span class=\"_ _2\"></span>iv (previously the Thomson R<span class=\"_ _0\"></span>euters Financial &amp; Risk Business) separated fr<span class=\"_ _0\"></span>om Thomson Reuters on 1<span class=\"_ _0\"></span> Oc<span class=\"_ _2\"></span>tober 2<span class=\"_ _0\"></span>018<span class=\"_ _2\"></span>. The <span class=\"ff75 ls5 ws5\">tax indemnity receivable<span class=\"ff76\"> is<span class=\"_ _0\"></span> recognised for<span class=\"_ _0\"></span> and measured </span></span>on the same basis<span class=\"_ _0\"></span> as the corresponding indemnified tax liabilities<span class=\"_ _2\"></span>. The indemnified tax liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are recognised within current<span class=\"_ _0\"></span> ta<span class=\"_ _2\"></span>x payable in the balanc<span class=\"_ _0\"></span>e sheet. When there is a<span class=\"_ _0\"></span> change in the indemnif<span class=\"_ _2\"></span>ied tax li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies, which<span class=\"_ _0\"></span> is recognised within tax in the income statement, there is an<span class=\"_ _0\"></span> of<span class=\"_ _2\"></span>fsett<span class=\"_ _2\"></span>ing change<span class=\"_ _0\"></span> in the tax indemnit<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>eceivable. (<span class=\"_ _2\"></span>The tax indemnity payable is described in no<span class=\"_ _2\"></span>te 15.)<span class=\"_ _314\"> </span>Contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"ff76 ls3 ws3\"> are reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has a con<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>al </span>right to<span class=\"_ _0\"></span> consideration from<span class=\"_ _0\"></span> a customer in<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> for goods or serv<span class=\"_ _2\"></span>ices<span class=\"_ _0\"></span> trans<span class=\"_ _2\"></span>ferred.<span class=\"_ _0\"></span> Cont<span class=\"_ _2\"></span>ract assets are transferred to trade receivables when the entitlement to payment becomes unc<span class=\"_ _2\"></span>ondi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>onal an<span class=\"_ _2\"></span>d onl<span class=\"_ _2\"></span>y the p<span class=\"_ _2\"></span>ass<span class=\"_ _2\"></span>age of t<span class=\"_ _2\"></span>ime i<span class=\"_ _2\"></span>s requ<span class=\"_ _2\"></span>ired be<span class=\"_ _2\"></span>fore payment is due<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherReceivablesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-562": {
   "value": "<table class=\"s w60e h26a\" id=\"_4b9ef202-605a-42eb-b566-c2de9e8b4f11\"><tr><td></td><td></td><td class=\"c n x4c5 y22ed w26f h21b\"><div class=\"t m2 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y22ed w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x68d y22ee w218 h21b\"><div class=\"t m2 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x68e y22ee w34 h21b\"><div class=\"t m2 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x68f y22ee w35 h21b\"><div class=\"t m2 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h187 y22ef ff75 fs129 fc1 sc0 lsad wsdc\">Non<span class=\"_ _2\"></span>-current<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22f0 w60f h21c\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s in l<span class=\"_ _2\"></span>eas<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa0a y22f0 w95 h21c\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">53<span class=\"_ _314\"> </span></div></td><td class=\"c n xa0b y22f0 wbe h21c\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22f1 w610 h21c\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>a<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> indemnit<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>eceivable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa0c y22f1 w139 h21c\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">62<span class=\"_ _314\"> </span></div></td><td class=\"c n xa0d y22f1 w611 h21c\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls72 ws9b\">61<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22f2 w612 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Deposit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> receivable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa0e y22f2 w613 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls75 ws9e\">19<span class=\"_ _314\"> </span></div></td><td class=\"c n xa0f y22f2 wf9 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22f3 w614 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other receivables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa10 y22f3 w615 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n xa11 y22f3 w38b h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y22f4 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current rec<span class=\"_ _0\"></span>eivables classif<span class=\"_ _2\"></span>ied </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22f5 w616 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">as financial assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xa12 y22f5 w617 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xa13 y22f5 w618 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls7b wse0\">137<span class=\"_ _314\"> </span></div></td><td class=\"c n xa14 y22f5 w619 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">141<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22f6 w61a h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Prepayments<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa15 y22f6 w574 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">59<span class=\"_ _314\"> </span></div></td><td class=\"c n xa16 y22f6 w61b h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">23<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22f7 w61c h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa17 y22f7 w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xa18 y22f7 w61d h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls75 ws9e\">11<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x9c3 y22f8 w157 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls75 ws9e\">196<span class=\"_ _314\"> </span></div></td><td class=\"c n xa19 y22f8 w476 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws9f\">175<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h187 y22f9 ff75 fs129 fc1 sc0 ls76 ws9f\">Current </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22fa w61e h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _0\"></span>rade r<span class=\"_ _0\"></span>eceivables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa1a y22fa w21d h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">957<span class=\"_ _314\"> </span></div></td><td class=\"c n xa1b y22fa w61f h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls73 ws9c\">951<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22fb w620 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Fees receivable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa1c y22fb w571 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">388<span class=\"_ _314\"> </span></div></td><td class=\"c n xa1d y22fb w621 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsab wsd4\">300<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y22fc ff76 fs129 fc1 sc0 ls89 ws18c\">Expec<span class=\"_ _2\"></span>ted c<span class=\"_ _0\"></span>redit loss on<span class=\"_ _0\"></span> tr<span class=\"_ _2\"></span>ade<span class=\"_ _0\"></span> receivables </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22fd w622 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">and fees<span class=\"_ _0\"></span> receivable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa1e y22fd w2d0 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(23)<span class=\"_ _314\"> </span></div></td><td class=\"c n xa1f y22fd w623 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsb6\">(20)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22fe w624 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Net trade rec<span class=\"_ _0\"></span>eivables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x621 y22fe w625 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,322<span class=\"_ _314\"> </span></div></td><td class=\"c n xa20 y22fe w626 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">1,<span class=\"_ _2\"></span>231<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22ff w60f h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s in l<span class=\"_ _2\"></span>eas<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa21 y22ff wa5 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n xa22 y22ff w20a h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2300 w612 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Deposit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> receivable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa23 y2300 wd6 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls88 wsb4\">48<span class=\"_ _314\"> </span></div></td><td class=\"c n xa24 y2300 w47b h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2301 w627 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other receivables</div><div class=\"t m2 xa25 h194 y20d4 ff76 fs12a fc1 sc0 lsa6 wsd2\">1,2<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa26 y2301 w628 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6a ws1\">70<span class=\"_ _314\"> </span></div></td><td class=\"c n xa27 y2301 w164 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">90<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h193 y2302 ff76 fs129 fc1 sc0 ls6c ws7e\">Current rec<span class=\"_ _0\"></span>eivables classif<span class=\"_ _2\"></span>ied </td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y22a3 w629 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">as financial assets</div><div class=\"t m2 xa28 h194 y2242 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x69e y22a3 wc0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xa29 y22a3 w62a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsee ws55\">1,445<span class=\"_ _314\"> </span></div></td><td class=\"c n xa2a y22a3 w62b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>3<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a4 w61a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Prepayments<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa2b y22a4 w571 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">206<span class=\"_ _314\"> </span></div></td><td class=\"c n xa2c y22a4 w62c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">218<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w61c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa17 y2297 wa5 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n xa2d y2297 w38b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2303 w62d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other taxes receivable</div><div class=\"t m2 xa2e h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa26 y2303 w62e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">97<span class=\"_ _314\"> </span></div></td><td class=\"c n xa2f y2303 w101 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x4c5 y2289 w62f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,753<span class=\"_ _314\"> </span></div></td><td class=\"c n xa30 y2289 wd0 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">1,6<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w630 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal rec<span class=\"_ _0\"></span>eivables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa31 y2069 w631 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">1,949<span class=\"_ _314\"> </span></div></td><td class=\"t m2 xa32 h193 y2304 ff76 fs129 fc1 sc0 lsa1 wsda\">1,840<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>Other receivables include \u00a36<span class=\"_ _0\"></span> million (202<span class=\"_ _0\"></span>4: \u00a354 million<span class=\"_ _0\"></span>) from matched<span class=\"_ _0\"></span> principal trades wit<span class=\"_ _2\"></span>hin the Group\u2019<span class=\"_ _0\"></span>s T<span class=\"_ _0\"></span>radeweb business<span class=\"_ _0\"></span> that had passed their<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement da<span class=\"_ _0\"></span>te. An amount<span class=\"_ _0\"></span> of \u00a34<span class=\"_ _0\"></span> million (20<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>54 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion) i<span class=\"_ _2\"></span>s sho<span class=\"_ _2\"></span>wn wi<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span>in ot<span class=\"_ _2\"></span>her p<span class=\"_ _2\"></span>aya<span class=\"_ _2\"></span>ble<span class=\"_ _2\"></span>s in no<span class=\"_ _2\"></span>te 15<span class=\"_ _2\"></span>. All t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>des we<span class=\"_ _2\"></span>re se<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>led w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin a<span class=\"_ _2\"></span> short period after the balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> Ot<span class=\"_ _2\"></span>her<span class=\"_ _0\"></span> receivables also include<span class=\"_ _0\"></span> \u00a315 million (20<span class=\"_ _0\"></span>24:<span class=\"_ _0\"></span> nil) as margin<span class=\"_ _0\"></span> receivable on re<span class=\"_ _0\"></span>verse repurchase c<span class=\"_ _0\"></span>ontrac<span class=\"_ _2\"></span>ts within the Group\u2019<span class=\"_ _0\"></span>s clearing business.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>Fo<span class=\"_ _2\"></span>r 2024, ot<span class=\"_ _2\"></span>her t<span class=\"_ _2\"></span>axes r<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble o<span class=\"_ _2\"></span>f \u00a368 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on ha<span class=\"_ _2\"></span>ve be<span class=\"_ _2\"></span>en di<span class=\"_ _2\"></span>sag<span class=\"_ _2\"></span>gre<span class=\"_ _2\"></span>gate<span class=\"_ _2\"></span>d fro<span class=\"_ _2\"></span>m oth<span class=\"_ _2\"></span>er rec<span class=\"_ _2\"></span>eiv<span class=\"_ _2\"></span>ab<span class=\"_ _2\"></span>les to b<span class=\"_ _2\"></span>e con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>ten<span class=\"_ _2\"></span>t wi<span class=\"_ _2\"></span>th 2025 a<span class=\"_ _2\"></span>nd cur<span class=\"_ _2\"></span>ren<span class=\"_ _2\"></span>t rec<span class=\"_ _2\"></span>eiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>es cl<span class=\"_ _2\"></span>ass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s fi<span class=\"_ _2\"></span>nan<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>l ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s have been<span class=\"_ _0\"></span> re-<span class=\"_ _2\"></span>presented<span class=\"_ _0\"></span> to ex<span class=\"_ _0\"></span>clude these other taxes<span class=\"_ _0\"></span> receivable<span class=\"_ _314\"> </span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-547": {
   "value": "<div class=\"t m2 h4 ff75 fs1 fc1 sc0 ls22 ws3 gs3e8\">Prov<span class=\"_ _2\"></span>ision f<span class=\"_ _2\"></span>or expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d cred<span class=\"_ _2\"></span>it loss<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3e9\">Mo<span class=\"_ _2\"></span>vemen<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>n the G<span class=\"_ _2\"></span>roup\u2019s pr<span class=\"_ _2\"></span>ovis<span class=\"_ _2\"></span>ion for ex<span class=\"_ _2\"></span>pe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d cred<span class=\"_ _2\"></span>it los<span class=\"_ _2\"></span>ses o<span class=\"_ _2\"></span>n tra<span class=\"_ _2\"></span>de </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs3ea\">rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>bles a<span class=\"_ _2\"></span>nd fee<span class=\"_ _2\"></span>s recei<span class=\"_ _2\"></span>vab<span class=\"_ _2\"></span>le are as f<span class=\"_ _2\"></span>ollow<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span></div><div class=\"gs3eb\"><table class=\"s w632 h26b\" id=\"_d3e2482e-fd27-42af-b430-8dde1a801e21\"><tr><td></td><td class=\"c n x4e9 y2305 w31 h21b\"><div class=\"t m2 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y2305 w270 h21b\"><div class=\"t m2 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4ec y2306 w34 h21b\"><div class=\"t m2 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y2306 w35 h21b\"><div class=\"t m2 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w342 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td class=\"c n xa33 y213d w38f h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n xa34 y213d w633 h225\"><div class=\"t m2 x1e4 h193 y204b ff76 fs6 fc1 sc0 ls88 wsb4\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2176 w634 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">New provisions<span class=\"_ _0\"></span> for e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>ted c<span class=\"_ _0\"></span>redit losses<span class=\"_ _314\"> </span></div></td><td class=\"c n xa35 y2176 w635 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6e ws98\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xa36 y2176 w636 h225\"><div class=\"t m2 x1e4 h193 y204b ff76 fs6 fc1 sc0 ls7a wsbe\">14<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w637 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> wri<span class=\"_ _2\"></span>tten off as uncollectable<span class=\"_ _314\"> </span></div></td><td class=\"c n xa37 y20da w4ea h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>24)<span class=\"_ _314\"> </span></div></td><td class=\"c n xa38 y20da w638 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls117 ws18d\">(7)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td class=\"c n xa39 y2069 w33c h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">23<span class=\"_ _314\"> </span></div></td><td class=\"t m2 xa3a hb y2307 ff76 fs6 fc1 sc0 ls118 ws18e\">20<span class=\"_ _314\"> </span></td></tr></table></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-532": {
   "value": "14. Cash and c<span class=\"_ _2\"></span>ash equivalent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Cash a<span class=\"_ _2\"></span>nd cash e<span class=\"_ _2\"></span>quiv<span class=\"_ _2\"></span>alent<span class=\"_ _2\"></span>s comp<span class=\"_ _2\"></span>rise cas<span class=\"_ _2\"></span>h at ban<span class=\"_ _2\"></span>k, shor<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>term de<span class=\"_ _2\"></span>posi<span class=\"_ _2\"></span>ts,<span class=\"_ _2\"></span> mon<span class=\"_ _2\"></span>ey market f<span class=\"_ _2\"></span>unds an<span class=\"_ _2\"></span>d othe<span class=\"_ _2\"></span>r inst<span class=\"_ _2\"></span>rumen<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d stru<span class=\"_ _2\"></span>ctur<span class=\"_ _2\"></span>es tha<span class=\"_ _2\"></span>t are rea<span class=\"_ _2\"></span>dily co<span class=\"_ _2\"></span>nver<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ble to kno<span class=\"_ _2\"></span>wn amo<span class=\"_ _2\"></span>unts of c<span class=\"_ _2\"></span>ash and a<span class=\"_ _2\"></span>re subje<span class=\"_ _2\"></span>ct to insignificant risk of changes in<span class=\"_ _0\"></span> value.<span class=\"_ _314\"> </span><table class=\"s w63c h26c\" id=\"_23968f39-04f2-4146-8e4b-bdca55a3adf9\"><tr><td></td><td></td><td class=\"c n x4c5 y2308 w26f h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2308 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x68d y2309 w218 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x68e y2309 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x68f y2309 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2176 w63d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Cash at bank<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa42 y2176 w52e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d ws97\">781<span class=\"_ _314\"> </span></div></td><td class=\"c n xa43 y2176 w63e h234\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs6 fc1 sc0 ls7f wsac\">82<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22cd w63f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Cash equivalent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa44 y22cd w640 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaf wsd9\">3<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>68<span class=\"_ _314\"> </span></div></td><td class=\"c n xa45 y22cd w641 h234\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs6 fc1 sc0 ls94 wsc1\">2,65<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w642 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal cash<span class=\"_ _0\"></span> and cash equivalents</div><div class=\"t m2 xa46 h195 y210f ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xa47 y2069 w643 h225\"><div class=\"t m2 x1e4 h187 y20d6 ff76 fs6 fc1 sc0 lsfc ws13f\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xa48 y2069 wdd h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">3,949</div></td><td class=\"t m2 xa32 hb y230a ff76 fs6 fc1 sc0 ls26 ws83\">3,<span class=\"_ _2\"></span>475<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>A<span class=\"_ _2\"></span>t 31 De<span class=\"_ _2\"></span>cem<span class=\"_ _2\"></span>ber 20<span class=\"_ _2\"></span>25, ca<span class=\"_ _2\"></span>sh an<span class=\"_ _2\"></span>d cas<span class=\"_ _2\"></span>h equ<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ale<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s incl<span class=\"_ _2\"></span>ude \u00a3<span class=\"_ _2\"></span>1,1<span class=\"_ _2\"></span>88 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a31<span class=\"_ _2\"></span>,3<span class=\"_ _2\"></span>42 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n) of amounts held<span class=\"_ _0\"></span> by regulated<span class=\"_ _0\"></span> enti<span class=\"_ _2\"></span>ties<span class=\"_ _0\"></span> for regulatory and operational<span class=\"_ _0\"></span> purposes<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Cash held by subsidiaries which<span class=\"_ _0\"></span> operate in countries<span class=\"_ _0\"></span> where exchange<span class=\"_ _0\"></span> controls or other<span class=\"_ _0\"></span> legal restric<span class=\"_ _2\"></span>tions apply,<span class=\"_ _0\"></span> and which is<span class=\"_ _0\"></span> therefore not<span class=\"_ _0\"></span> available for<span class=\"_ _0\"></span> general use by<span class=\"_ _0\"></span> the Group, has<span class=\"_ _0\"></span> been fully provided against. Cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> do not include<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> held by the<span class=\"_ _0\"></span> CCPs on behalf o<span class=\"_ _0\"></span>f their clearing members",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-548": {
   "value": "15. Paya<span class=\"_ _0\"></span>bles<span class=\"_ _314\"> </span>Pay<span class=\"_ _2\"></span>ables m<span class=\"_ _2\"></span>ainl<span class=\"_ _2\"></span>y consis<span class=\"_ _2\"></span>t of amou<span class=\"_ _2\"></span>nts ow<span class=\"_ _2\"></span>ed to supp<span class=\"_ _2\"></span>lier<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t have b<span class=\"_ _2\"></span>een invo<span class=\"_ _2\"></span>iced or a<span class=\"_ _2\"></span>re accru<span class=\"_ _2\"></span>ed. Th<span class=\"_ _2\"></span>ey also inc<span class=\"_ _2\"></span>lude so<span class=\"_ _2\"></span>cial se<span class=\"_ _2\"></span>curit<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d othe<span class=\"_ _2\"></span>r amo<span class=\"_ _2\"></span>unts d<span class=\"_ _2\"></span>ue in rela<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n to the G<span class=\"_ _2\"></span>roup\u2019s role as a<span class=\"_ _2\"></span>n employ<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>rade payables<span class=\"ff76 ls7 wsa\"> are<span class=\"_ _0\"></span> initiall<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>ecognised at fair value, which is </span>usually the amount invoic<span class=\"_ _0\"></span>ed. They are s<span class=\"_ _0\"></span>ubsequent<span class=\"_ _2\"></span>ly measured at amort<span class=\"_ _2\"></span>ised c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span>Accrued expenses<span class=\"ff76 ls6 ws7\"> are r<span class=\"_ _0\"></span>ecognised for goods and<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices </span>rece<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>d before t<span class=\"_ _2\"></span>he en<span class=\"_ _2\"></span>d of the y<span class=\"_ _2\"></span>ear for w<span class=\"_ _2\"></span>hich n<span class=\"_ _2\"></span>o invo<span class=\"_ _2\"></span>ice has<span class=\"_ _2\"></span> be<span class=\"_ _2\"></span>en rece<span class=\"_ _2\"></span>ived<span class=\"_ _2\"></span>. They a<span class=\"_ _2\"></span>re mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>t amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t. Payables include the <span class=\"ff75\">T<span class=\"_ _3\"></span>radeweb tax rec<span class=\"_ _0\"></span>eivable agreement liability<span class=\"_ _0\"></span><span class=\"ff76 ls4 ws3\">. </span></span>In connection wi<span class=\"_ _2\"></span>th T<span class=\"_ _3\"></span>radeweb\u2019<span class=\"_ _0\"></span>s initial public o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fering (IPO), T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>deweb e<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>d into a t<span class=\"_ _2\"></span>ax rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>greem<span class=\"_ _2\"></span>ent w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the owners of T<span class=\"_ _3\"></span>radeweb Markets LL<span class=\"_ _0\"></span>C (the \u201cLLC<span class=\"_ _0\"></span> Ow<span class=\"_ _2\"></span>ners\u201d) immediately prior to<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>s IPO. Under<span class=\"_ _0\"></span> the agreement, T<span class=\"_ _3\"></span>radeweb is req<span class=\"_ _2\"></span>uired t<span class=\"_ _2\"></span>o make ca<span class=\"_ _2\"></span>sh pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to t<span class=\"_ _2\"></span>he LLC Ow<span class=\"_ _2\"></span>ner<span class=\"_ _2\"></span>s equa<span class=\"_ _2\"></span>l to 50%<span class=\"_ _2\"></span> of t<span class=\"_ _2\"></span>he amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny ta<span class=\"_ _2\"></span>x sav<span class=\"_ _2\"></span>ings t<span class=\"_ _2\"></span>hat T<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>adewe<span class=\"_ _2\"></span>b reali<span class=\"_ _2\"></span>ses as a r<span class=\"_ _2\"></span>esul<span class=\"_ _2\"></span>t of cer<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ain f<span class=\"_ _2\"></span>utu<span class=\"_ _2\"></span>re tax b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>ts to w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>t is en<span class=\"_ _2\"></span>tit<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>d. The Trade<span class=\"_ _2\"></span>web tax receivable agreement liability is measured<span class=\"_ _0\"></span> at amor<span class=\"_ _2\"></span>tised cost.<span class=\"_ _314\"> </span>A<span class=\"_ _2\"></span>s desc<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ed in no<span class=\"_ _2\"></span>te 13, t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup ha<span class=\"_ _2\"></span>s a tax i<span class=\"_ _2\"></span>ndem<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>greem<span class=\"_ _2\"></span>ent wi<span class=\"_ _2\"></span>th Th<span class=\"_ _2\"></span>oms<span class=\"_ _2\"></span>on Reu<span class=\"_ _2\"></span>ters<span class=\"_ _2\"></span>. The G<span class=\"_ _2\"></span>roup h<span class=\"_ _2\"></span>as a <span class=\"ff75 ls6 ws7\">tax indemnity payable</span><span class=\"ls4\"> </span>to Th<span class=\"_ _2\"></span>omso<span class=\"_ _2\"></span>n Reute<span class=\"_ _2\"></span>rs a<span class=\"_ _2\"></span>gains<span class=\"_ _2\"></span>t a ma<span class=\"_ _2\"></span>tchin<span class=\"_ _2\"></span>g tax re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>vabl<span class=\"_ _2\"></span>e whi<span class=\"_ _2\"></span>ch is recognised within current tax r<span class=\"_ _0\"></span>eceivabl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> in the balance sheet. The t<span class=\"_ _2\"></span>ax in<span class=\"_ _2\"></span>dem<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>y pa<span class=\"_ _2\"></span>yabl<span class=\"_ _2\"></span>e is mea<span class=\"_ _2\"></span>sure<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e same b<span class=\"_ _2\"></span>asis a<span class=\"_ _2\"></span>s the indemnif<span class=\"_ _2\"></span>ied tax r<span class=\"_ _0\"></span>eceivable. When there is a<span class=\"_ _0\"></span> change in the ind<span class=\"_ _2\"></span>emn<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied t<span class=\"_ _2\"></span>ax rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble, w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>s reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n tax i<span class=\"_ _2\"></span>n the income statement, there is an<span class=\"_ _0\"></span> of<span class=\"_ _2\"></span>fsett<span class=\"_ _2\"></span>ing ch<span class=\"_ _0\"></span>ange in the tax indemnit<span class=\"_ _2\"></span>y payable.<span class=\"_ _314\"> </span>The Group<span class=\"_ _0\"></span> has granted<span class=\"_ _0\"></span> a put option to<span class=\"_ _0\"></span> non-<span class=\"_ _2\"></span>controlling<span class=\"_ _0\"></span> interest hol<span class=\"_ _2\"></span>der<span class=\"_ _2\"></span>s of LS<span class=\"_ _2\"></span>EG PT<span class=\"_ _2\"></span>S Hol<span class=\"_ _2\"></span>ding<span class=\"_ _2\"></span>s Limi<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span>. The <span class=\"ff75 lsc ws41\">put option liabilit<span class=\"_ _2\"></span>y </span>for non-<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ontrolling interests\u2019 shares<span class=\"ff76\"> is r<span class=\"_ _0\"></span>ecognised init<span class=\"_ _2\"></span>ially at </span>the present value<span class=\"_ _0\"></span> of the expected redemption amount, wi<span class=\"_ _2\"></span>th the cor<span class=\"_ _2\"></span>resp<span class=\"_ _2\"></span>ondi<span class=\"_ _2\"></span>ng cha<span class=\"_ _2\"></span>rge to eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y at<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>uta<span class=\"_ _2\"></span>ble to t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y\u2019s equit<span class=\"_ _2\"></span>y holders. The liability is subsequently remeasured, with the unwinding of the disc<span class=\"_ _0\"></span>ount recognised as a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> cost and changes in the e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>ted r<span class=\"_ _0\"></span>edempt<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> amount recognised in prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t or los<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span><table class=\"s w644 h26d\" id=\"_15e45de2-54de-43a3-a58e-4bb6cc388654\"><tr><td></td><td></td><td class=\"c n x5e0 y230c w645 h26e\"><div class=\"t m2 x1e4 hb y230b ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _7f\"> </span><span class=\"ff75 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x5e2 y230d w35 h21b\"><div class=\"t m2 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h187 y230e ff75 fs129 fc1 sc0 lsad wsdc\">Non<span class=\"_ _2\"></span>-current<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m2 x5a9 h193 y230f ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span> tax receivable </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2310 w646 h21c\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">agreement liability<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa49 y2310 w58a h21c\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">2<span class=\"_ _2\"></span>02<span class=\"_ _314\"> </span></div></td><td class=\"c n xa4a y2310 w647 h21c\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls72 ws9b\">261<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2311 w648 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>a<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> indemnit<span class=\"_ _2\"></span>y pa<span class=\"_ _0\"></span>yable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa4b y2311 w518 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">249<span class=\"_ _314\"> </span></div></td><td class=\"c n xa4c y2311 w13b h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">250<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2312 w180 h24b\"><div class=\"t m2 x1e4 h193 y2208 ff76 fs129 fc1 sc0 ls89 wsda\">Put option liabi<span class=\"_ _0\"></span>lit<span class=\"_ _2\"></span>y for<span class=\"_ _0\"></span> non-<span class=\"_ _2\"></span>controlling<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">interests\u2019 shar<span class=\"_ _0\"></span>es</div><div class=\"t m2 xa4d h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x959 y2312 w649 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa1 wsda\">18.2<span class=\"_ _314\"> </span></div></td><td class=\"c n xa4e y2312 w4a3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">172<span class=\"_ _314\"> </span></div></td><td class=\"c n xa4f y2312 w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2313 w64a h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other payables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa50 y2313 w43a h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x952 y2313 w9d h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y2314 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current payables<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2315 w64b h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">as financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xa51 y2315 w64c h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xa1c y2315 w64d h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">62<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xa52 y2315 w64e h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls73 ws9c\">517<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2316 w5f3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Deferred<span class=\"_ _0\"></span> compensation<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa53 y2316 w586 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n xa54 y2316 w7c h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x73f y2317 w64f h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">636<span class=\"_ _314\"> </span></div></td><td class=\"c n xa55 y2317 w650 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb9 wse9\">5<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h187 y2318 ff75 fs129 fc1 sc0 ls76 ws9f\">Current<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2319 w651 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _0\"></span>rade pa<span class=\"_ _0\"></span>yables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa56 y2319 w2ad h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls7b wse0\">237<span class=\"_ _314\"> </span></div></td><td class=\"c n xa57 y2319 w652 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">323<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y231a w653 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Accrued expenses<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa58 y231a w654 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls39 ws0\">1,0<span class=\"_ _2\"></span>49<span class=\"_ _314\"> </span></div></td><td class=\"c n xa59 y231a w655 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>,127<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y231b ff76 fs129 fc1 sc0 ls76 ws5\">Share buyback obligation<span class=\"_ _314\"> </span></td><td class=\"t m2 xa5a h193 y231c ff76 fs129 fc1 sc0 lsa1 wsda\">18.<span class=\"_ _0\"></span>1<span class=\"_ _314\"> </span></td><td class=\"c n xa5b y231d w656 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa3 wsce\">417<span class=\"_ _314\"> </span></div></td><td class=\"c n xa5c y231d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y231e ff76 fs129 fc1 sc0 ls89 wsda\">Deferred<span class=\"_ _0\"></span> consideration for<span class=\"_ _0\"></span> SwapClear </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y228d w657 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">intangible asset<span class=\"_ _314\"> </span></div></td><td class=\"c n xa5d y228d w9d h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">9<span class=\"_ _314\"> </span></div></td><td class=\"c n xa5e y228d w583 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">250<span class=\"_ _314\"> </span></div></td><td class=\"c n x6af y228d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2286 w658 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other payables</div><div class=\"t m2 xa5f h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa60 y2286 w58a h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">200<span class=\"_ _314\"> </span></div></td><td class=\"c n xa61 y2286 w659 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6e ws98\">29<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y231f ff76 fs129 fc1 sc0 ls6c ws7e\">Current payables<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22eb w64b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">as financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xa51 y22eb w64c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xa62 y22eb w65a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaf wsd9\">2<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>5<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xa63 y22eb w65b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>74<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w65c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Social security and other taxes payable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa64 y2288 w65d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">147<span class=\"_ _314\"> </span></div></td><td class=\"c n xa65 y2288 w5bf h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">1<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xa66 y228f we7 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">2,30<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xa67 y228f w65e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">1<span class=\"_ _2\"></span>,885<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w65f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls7b wsb4\">T<span class=\"_ _0\"></span>otal payables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa68 y2069 w660 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6f ws99\">2,<span class=\"_ _2\"></span>936</div></td><td class=\"t m2 xa69 h193 y2320 ff76 fs129 fc1 sc0 ls67 ws61\">2,40<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>I<span class=\"_ _2\"></span>n Oc<span class=\"_ _2\"></span>tob<span class=\"_ _2\"></span>er 2025<span class=\"_ _2\"></span>, we sol<span class=\"_ _2\"></span>d a 20% s<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>ke in LS<span class=\"_ _2\"></span>EG P<span class=\"_ _2\"></span>TS Ho<span class=\"_ _2\"></span>ldi<span class=\"_ _2\"></span>ngs L<span class=\"_ _2\"></span>imi<span class=\"_ _2\"></span>ted f<span class=\"_ _2\"></span>or \u00a31<span class=\"_ _2\"></span>70 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n to a<span class=\"_ _0\"></span> group of<span class=\"_ _0\"></span> investing banks and simultaneously granted<span class=\"_ _0\"></span> a put option over<span class=\"_ _0\"></span> their stake. Th<span class=\"_ _2\"></span>e opt<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>s exer<span class=\"_ _2\"></span>cis<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e at fa<span class=\"_ _2\"></span>ir va<span class=\"_ _2\"></span>lue at t<span class=\"_ _2\"></span>he d<span class=\"_ _2\"></span>ate of e<span class=\"_ _2\"></span>xerci<span class=\"_ _2\"></span>se, w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h may o<span class=\"_ _2\"></span>ccur i<span class=\"_ _2\"></span>n 203<span class=\"_ _2\"></span>3. We ha<span class=\"_ _2\"></span>ve rec<span class=\"_ _2\"></span>ogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d a fi<span class=\"_ _2\"></span>nan<span class=\"_ _2\"></span>cial l<span class=\"_ _2\"></span>iab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y for t<span class=\"_ _2\"></span>he pre<span class=\"_ _2\"></span>sen<span class=\"_ _2\"></span>t val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d red<span class=\"_ _2\"></span>emp<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n amount arising fr<span class=\"_ _0\"></span>om this obligation.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>Other payables include<span class=\"_ _0\"></span> \u00a34 million (2<span class=\"_ _0\"></span>024<span class=\"_ _0\"></span>: \u00a354 million) from<span class=\"_ _0\"></span> matched principal trades within the Group\u2019<span class=\"_ _0\"></span>s T<span class=\"_ _0\"></span>radeweb business<span class=\"_ _0\"></span> that had passed their<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement da<span class=\"_ _0\"></span>te. An amount<span class=\"_ _0\"></span> of \u00a36 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on (2<span class=\"_ _2\"></span>02<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>54 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion) i<span class=\"_ _2\"></span>s sho<span class=\"_ _2\"></span>wn wi<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span>in ot<span class=\"_ _2\"></span>her r<span class=\"_ _2\"></span>ecei<span class=\"_ _2\"></span>va<span class=\"_ _2\"></span>ble<span class=\"_ _2\"></span>s in no<span class=\"_ _2\"></span>te 13<span class=\"_ _2\"></span>. All t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>des w<span class=\"_ _2\"></span>ere settle<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> within a short period after the balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> Other payables also include \u00a37 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a38<span class=\"_ _2\"></span>3 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n) as ma<span class=\"_ _2\"></span>rgi<span class=\"_ _2\"></span>n pay<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e on rev<span class=\"_ _2\"></span>ers<span class=\"_ _2\"></span>e rep<span class=\"_ _2\"></span>urch<span class=\"_ _2\"></span>ase c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n the Group\u2019<span class=\"_ _0\"></span>s clearing business.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-533": {
   "value": "15. Paya<span class=\"_ _0\"></span>bles<span class=\"_ _314\"> </span>Pay<span class=\"_ _2\"></span>ables m<span class=\"_ _2\"></span>ainl<span class=\"_ _2\"></span>y consis<span class=\"_ _2\"></span>t of amou<span class=\"_ _2\"></span>nts ow<span class=\"_ _2\"></span>ed to supp<span class=\"_ _2\"></span>lier<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t have b<span class=\"_ _2\"></span>een invo<span class=\"_ _2\"></span>iced or a<span class=\"_ _2\"></span>re accru<span class=\"_ _2\"></span>ed. Th<span class=\"_ _2\"></span>ey also inc<span class=\"_ _2\"></span>lude so<span class=\"_ _2\"></span>cial se<span class=\"_ _2\"></span>curit<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d othe<span class=\"_ _2\"></span>r amo<span class=\"_ _2\"></span>unts d<span class=\"_ _2\"></span>ue in rela<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n to the G<span class=\"_ _2\"></span>roup\u2019s role as a<span class=\"_ _2\"></span>n employ<span class=\"_ _2\"></span>er<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>rade payables<span class=\"ff76 ls7 wsa\"> are<span class=\"_ _0\"></span> initiall<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>ecognised at fair value, which is </span>usually the amount invoic<span class=\"_ _0\"></span>ed. They are s<span class=\"_ _0\"></span>ubsequent<span class=\"_ _2\"></span>ly measured at amort<span class=\"_ _2\"></span>ised c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span>Accrued expenses<span class=\"ff76 ls6 ws7\"> are r<span class=\"_ _0\"></span>ecognised for goods and<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices </span>rece<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>d before t<span class=\"_ _2\"></span>he en<span class=\"_ _2\"></span>d of the y<span class=\"_ _2\"></span>ear for w<span class=\"_ _2\"></span>hich n<span class=\"_ _2\"></span>o invo<span class=\"_ _2\"></span>ice has<span class=\"_ _2\"></span> be<span class=\"_ _2\"></span>en rece<span class=\"_ _2\"></span>ived<span class=\"_ _2\"></span>. They a<span class=\"_ _2\"></span>re mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>t amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t. Payables include the <span class=\"ff75\">T<span class=\"_ _3\"></span>radeweb tax rec<span class=\"_ _0\"></span>eivable agreement liability<span class=\"_ _0\"></span><span class=\"ff76 ls4 ws3\">. </span></span>In connection wi<span class=\"_ _2\"></span>th T<span class=\"_ _3\"></span>radeweb\u2019<span class=\"_ _0\"></span>s initial public o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fering (IPO), T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>deweb e<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>d into a t<span class=\"_ _2\"></span>ax rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>greem<span class=\"_ _2\"></span>ent w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the owners of T<span class=\"_ _3\"></span>radeweb Markets LL<span class=\"_ _0\"></span>C (the \u201cLLC<span class=\"_ _0\"></span> Ow<span class=\"_ _2\"></span>ners\u201d) immediately prior to<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>s IPO. Under<span class=\"_ _0\"></span> the agreement, T<span class=\"_ _3\"></span>radeweb is req<span class=\"_ _2\"></span>uired t<span class=\"_ _2\"></span>o make ca<span class=\"_ _2\"></span>sh pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to t<span class=\"_ _2\"></span>he LLC Ow<span class=\"_ _2\"></span>ner<span class=\"_ _2\"></span>s equa<span class=\"_ _2\"></span>l to 50%<span class=\"_ _2\"></span> of t<span class=\"_ _2\"></span>he amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny ta<span class=\"_ _2\"></span>x sav<span class=\"_ _2\"></span>ings t<span class=\"_ _2\"></span>hat T<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>adewe<span class=\"_ _2\"></span>b reali<span class=\"_ _2\"></span>ses as a r<span class=\"_ _2\"></span>esul<span class=\"_ _2\"></span>t of cer<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ain f<span class=\"_ _2\"></span>utu<span class=\"_ _2\"></span>re tax b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>ts to w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>t is en<span class=\"_ _2\"></span>tit<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>d. The Trade<span class=\"_ _2\"></span>web tax receivable agreement liability is measured<span class=\"_ _0\"></span> at amor<span class=\"_ _2\"></span>tised cost.<span class=\"_ _314\"> </span>A<span class=\"_ _2\"></span>s desc<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ed in no<span class=\"_ _2\"></span>te 13, t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup ha<span class=\"_ _2\"></span>s a tax i<span class=\"_ _2\"></span>ndem<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>greem<span class=\"_ _2\"></span>ent wi<span class=\"_ _2\"></span>th Th<span class=\"_ _2\"></span>oms<span class=\"_ _2\"></span>on Reu<span class=\"_ _2\"></span>ters<span class=\"_ _2\"></span>. The G<span class=\"_ _2\"></span>roup h<span class=\"_ _2\"></span>as a <span class=\"ff75 ls6 ws7\">tax indemnity payable</span><span class=\"ls4\"> </span>to Th<span class=\"_ _2\"></span>omso<span class=\"_ _2\"></span>n Reute<span class=\"_ _2\"></span>rs a<span class=\"_ _2\"></span>gains<span class=\"_ _2\"></span>t a ma<span class=\"_ _2\"></span>tchin<span class=\"_ _2\"></span>g tax re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>vabl<span class=\"_ _2\"></span>e whi<span class=\"_ _2\"></span>ch is recognised within current tax r<span class=\"_ _0\"></span>eceivabl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> in the balance sheet. The t<span class=\"_ _2\"></span>ax in<span class=\"_ _2\"></span>dem<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>y pa<span class=\"_ _2\"></span>yabl<span class=\"_ _2\"></span>e is mea<span class=\"_ _2\"></span>sure<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e same b<span class=\"_ _2\"></span>asis a<span class=\"_ _2\"></span>s the indemnif<span class=\"_ _2\"></span>ied tax r<span class=\"_ _0\"></span>eceivable. When there is a<span class=\"_ _0\"></span> change in the ind<span class=\"_ _2\"></span>emn<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied t<span class=\"_ _2\"></span>ax rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble, w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>s reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n tax i<span class=\"_ _2\"></span>n the income statement, there is an<span class=\"_ _0\"></span> of<span class=\"_ _2\"></span>fsett<span class=\"_ _2\"></span>ing ch<span class=\"_ _0\"></span>ange in the tax indemnit<span class=\"_ _2\"></span>y payable.<span class=\"_ _314\"> </span>The Group<span class=\"_ _0\"></span> has granted<span class=\"_ _0\"></span> a put option to<span class=\"_ _0\"></span> non-<span class=\"_ _2\"></span>controlling<span class=\"_ _0\"></span> interest hol<span class=\"_ _2\"></span>der<span class=\"_ _2\"></span>s of LS<span class=\"_ _2\"></span>EG PT<span class=\"_ _2\"></span>S Hol<span class=\"_ _2\"></span>ding<span class=\"_ _2\"></span>s Limi<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span>. The <span class=\"ff75 lsc ws41\">put option liabilit<span class=\"_ _2\"></span>y </span>for non-<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ontrolling interests\u2019 shares<span class=\"ff76\"> is r<span class=\"_ _0\"></span>ecognised init<span class=\"_ _2\"></span>ially at </span>the present value<span class=\"_ _0\"></span> of the expected redemption amount, wi<span class=\"_ _2\"></span>th the cor<span class=\"_ _2\"></span>resp<span class=\"_ _2\"></span>ondi<span class=\"_ _2\"></span>ng cha<span class=\"_ _2\"></span>rge to eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y at<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>uta<span class=\"_ _2\"></span>ble to t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y\u2019s equit<span class=\"_ _2\"></span>y holders. The liability is subsequently remeasured, with the unwinding of the disc<span class=\"_ _0\"></span>ount recognised as a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> cost and changes in the e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>ted r<span class=\"_ _0\"></span>edempt<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> amount recognised in prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t or los<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span><div class=\"gse3\"><table class=\"s w644 h26d\" id=\"_15e45de2-54de-43a3-a58e-4bb6cc388654\"><tr><td></td><td></td><td class=\"c n x5e0 y230c w645 h26e\"><div class=\"t m2 x1e4 hb y230b ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _7f\"> </span><span class=\"ff75 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x5e2 y230d w35 h21b\"><div class=\"t m2 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h187 y230e ff75 fs129 fc1 sc0 lsad wsdc\">Non<span class=\"_ _2\"></span>-current<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"t m2 x5a9 h193 y230f ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span> tax receivable </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2310 w646 h21c\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">agreement liability<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa49 y2310 w58a h21c\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">2<span class=\"_ _2\"></span>02<span class=\"_ _314\"> </span></div></td><td class=\"c n xa4a y2310 w647 h21c\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls72 ws9b\">261<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2311 w648 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>a<span class=\"_ _2\"></span>x<span class=\"_ _0\"></span> indemnit<span class=\"_ _2\"></span>y pa<span class=\"_ _0\"></span>yable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa4b y2311 w518 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">249<span class=\"_ _314\"> </span></div></td><td class=\"c n xa4c y2311 w13b h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">250<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2312 w180 h24b\"><div class=\"t m2 x1e4 h193 y2208 ff76 fs129 fc1 sc0 ls89 wsda\">Put option liabi<span class=\"_ _0\"></span>lit<span class=\"_ _2\"></span>y for<span class=\"_ _0\"></span> non-<span class=\"_ _2\"></span>controlling<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">interests\u2019 shar<span class=\"_ _0\"></span>es</div><div class=\"t m2 xa4d h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x959 y2312 w649 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa1 wsda\">18.2<span class=\"_ _314\"> </span></div></td><td class=\"c n xa4e y2312 w4a3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">172<span class=\"_ _314\"> </span></div></td><td class=\"c n xa4f y2312 w6a h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2313 w64a h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other payables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa50 y2313 w43a h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n x952 y2313 w9d h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y2314 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current payables<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2315 w64b h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">as financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xa51 y2315 w64c h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xa1c y2315 w64d h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">62<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xa52 y2315 w64e h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls73 ws9c\">517<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2316 w5f3 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Deferred<span class=\"_ _0\"></span> compensation<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa53 y2316 w586 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n xa54 y2316 w7c h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x73f y2317 w64f h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">636<span class=\"_ _314\"> </span></div></td><td class=\"c n xa55 y2317 w650 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb9 wse9\">5<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h187 y2318 ff75 fs129 fc1 sc0 ls76 ws9f\">Current<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2319 w651 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _0\"></span>rade pa<span class=\"_ _0\"></span>yables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa56 y2319 w2ad h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls7b wse0\">237<span class=\"_ _314\"> </span></div></td><td class=\"c n xa57 y2319 w652 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">323<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y231a w653 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Accrued expenses<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa58 y231a w654 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls39 ws0\">1,0<span class=\"_ _2\"></span>49<span class=\"_ _314\"> </span></div></td><td class=\"c n xa59 y231a w655 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>,127<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y231b ff76 fs129 fc1 sc0 ls76 ws5\">Share buyback obligation<span class=\"_ _314\"> </span></td><td class=\"t m2 xa5a h193 y231c ff76 fs129 fc1 sc0 lsa1 wsda\">18.<span class=\"_ _0\"></span>1<span class=\"_ _314\"> </span></td><td class=\"c n xa5b y231d w656 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa3 wsce\">417<span class=\"_ _314\"> </span></div></td><td class=\"c n xa5c y231d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y231e ff76 fs129 fc1 sc0 ls89 wsda\">Deferred<span class=\"_ _0\"></span> consideration for<span class=\"_ _0\"></span> SwapClear </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y228d w657 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">intangible asset<span class=\"_ _314\"> </span></div></td><td class=\"c n xa5d y228d w9d h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">9<span class=\"_ _314\"> </span></div></td><td class=\"c n xa5e y228d w583 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">250<span class=\"_ _314\"> </span></div></td><td class=\"c n x6af y228d w4f h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2286 w658 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other payables</div><div class=\"t m2 xa5f h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa60 y2286 w58a h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">200<span class=\"_ _314\"> </span></div></td><td class=\"c n xa61 y2286 w659 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6e ws98\">29<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y231f ff76 fs129 fc1 sc0 ls6c ws7e\">Current payables<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22eb w64b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">as financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xa51 y22eb w64c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xa62 y22eb w65a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaf wsd9\">2<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>5<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xa63 y22eb w65b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>74<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w65c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Social security and other taxes payable<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa64 y2288 w65d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">147<span class=\"_ _314\"> </span></div></td><td class=\"c n xa65 y2288 w5bf h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">1<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xa66 y228f we7 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">2,30<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xa67 y228f w65e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">1<span class=\"_ _2\"></span>,885<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w65f h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls7b wsb4\">T<span class=\"_ _0\"></span>otal payables<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa68 y2069 w660 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6f ws99\">2,<span class=\"_ _2\"></span>936</div></td><td class=\"t m2 xa69 h193 y2320 ff76 fs129 fc1 sc0 ls67 ws61\">2,40<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m2 hc ff76 fs7 fc1 sc0 lsb ws3 gs3f1\">1 <span class=\"_ _c\"> </span>I<span class=\"_ _2\"></span>n Oc<span class=\"_ _2\"></span>tob<span class=\"_ _2\"></span>er 2025<span class=\"_ _2\"></span>, we sol<span class=\"_ _2\"></span>d a 20% s<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>ke in LS<span class=\"_ _2\"></span>EG P<span class=\"_ _2\"></span>TS Ho<span class=\"_ _2\"></span>ldi<span class=\"_ _2\"></span>ngs L<span class=\"_ _2\"></span>imi<span class=\"_ _2\"></span>ted f<span class=\"_ _2\"></span>or \u00a31<span class=\"_ _2\"></span>70 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls7 ws48 gs3f2\">to a<span class=\"_ _0\"></span> group of<span class=\"_ _0\"></span> investing banks and simultaneously granted<span class=\"_ _0\"></span> a put option over<span class=\"_ _0\"></span> their stake. </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 lsb ws3 gs3f3\">Th<span class=\"_ _2\"></span>e opt<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>s exer<span class=\"_ _2\"></span>cis<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e at fa<span class=\"_ _2\"></span>ir va<span class=\"_ _2\"></span>lue at t<span class=\"_ _2\"></span>he d<span class=\"_ _2\"></span>ate of e<span class=\"_ _2\"></span>xerci<span class=\"_ _2\"></span>se, w<span class=\"_ _2\"></span>hic<span class=\"_ _2\"></span>h may o<span class=\"_ _2\"></span>ccur i<span class=\"_ _2\"></span>n 203<span class=\"_ _2\"></span>3. </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 lsb ws3 gs3f4\">We ha<span class=\"_ _2\"></span>ve rec<span class=\"_ _2\"></span>ogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d a fi<span class=\"_ _2\"></span>nan<span class=\"_ _2\"></span>cial l<span class=\"_ _2\"></span>iab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y for t<span class=\"_ _2\"></span>he pre<span class=\"_ _2\"></span>sen<span class=\"_ _2\"></span>t val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d red<span class=\"_ _2\"></span>emp<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls7 ws48 gs3f5\">amount arising fr<span class=\"_ _0\"></span>om this obligation.<span class=\"_ _314\"> </span></div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls29 ws47 gs3f6\">2 <span class=\"_ _7\"> </span>Other payables include<span class=\"_ _0\"></span> \u00a34 million (2<span class=\"_ _0\"></span>024<span class=\"_ _0\"></span>: \u00a354 million) from<span class=\"_ _0\"></span> matched principal trades within </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls7 ws48 gs3f7\">the Group\u2019<span class=\"_ _0\"></span>s T<span class=\"_ _0\"></span>radeweb business<span class=\"_ _0\"></span> that had passed their<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement da<span class=\"_ _0\"></span>te. An amount<span class=\"_ _0\"></span> of </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 lsb ws3 gs3f8\">\u00a36 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on (2<span class=\"_ _2\"></span>02<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>54 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion) i<span class=\"_ _2\"></span>s sho<span class=\"_ _2\"></span>wn wi<span class=\"_ _2\"></span>th<span class=\"_ _2\"></span>in ot<span class=\"_ _2\"></span>her r<span class=\"_ _2\"></span>ecei<span class=\"_ _2\"></span>va<span class=\"_ _2\"></span>ble<span class=\"_ _2\"></span>s in no<span class=\"_ _2\"></span>te 13<span class=\"_ _2\"></span>. All t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>des w<span class=\"_ _2\"></span>ere </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls7 ws48 gs3f9\">settle<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> within a short period after the balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> Other payables also include </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 lsb ws3 gs3fa\">\u00a37 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a38<span class=\"_ _2\"></span>3 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n) as ma<span class=\"_ _2\"></span>rgi<span class=\"_ _2\"></span>n pay<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e on rev<span class=\"_ _2\"></span>ers<span class=\"_ _2\"></span>e rep<span class=\"_ _2\"></span>urch<span class=\"_ _2\"></span>ase c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls7 ws48 gs3fb\">the Group\u2019<span class=\"_ _0\"></span>s clearing business.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-514": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>rade payables<span class=\"ff76 ls7 wsa\"> are<span class=\"_ _0\"></span> initiall<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>ecognised at fair value, which is </span>usually the amount invoic<span class=\"_ _0\"></span>ed. They are s<span class=\"_ _0\"></span>ubsequent<span class=\"_ _2\"></span>ly measured at amort<span class=\"_ _2\"></span>ised c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span>Accrued expenses<span class=\"ff76 ls6 ws7\"> are r<span class=\"_ _0\"></span>ecognised for goods and<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices </span>rece<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>d before t<span class=\"_ _2\"></span>he en<span class=\"_ _2\"></span>d of the y<span class=\"_ _2\"></span>ear for w<span class=\"_ _2\"></span>hich n<span class=\"_ _2\"></span>o invo<span class=\"_ _2\"></span>ice has<span class=\"_ _2\"></span> be<span class=\"_ _2\"></span>en rece<span class=\"_ _2\"></span>ived<span class=\"_ _2\"></span>. They a<span class=\"_ _2\"></span>re mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>t amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t. Payables include the <span class=\"ff75\">T<span class=\"_ _3\"></span>radeweb tax rec<span class=\"_ _0\"></span>eivable agreement liability<span class=\"_ _0\"></span><span class=\"ff76 ls4 ws3\">. </span></span>In connection wi<span class=\"_ _2\"></span>th T<span class=\"_ _3\"></span>radeweb\u2019<span class=\"_ _0\"></span>s initial public o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fering (IPO), T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>deweb e<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>d into a t<span class=\"_ _2\"></span>ax rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>greem<span class=\"_ _2\"></span>ent w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the owners of T<span class=\"_ _3\"></span>radeweb Markets LL<span class=\"_ _0\"></span>C (the \u201cLLC<span class=\"_ _0\"></span> Ow<span class=\"_ _2\"></span>ners\u201d) immediately prior to<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>s IPO. Under<span class=\"_ _0\"></span> the agreement, T<span class=\"_ _3\"></span>radeweb is req<span class=\"_ _2\"></span>uired t<span class=\"_ _2\"></span>o make ca<span class=\"_ _2\"></span>sh pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to t<span class=\"_ _2\"></span>he LLC Ow<span class=\"_ _2\"></span>ner<span class=\"_ _2\"></span>s equa<span class=\"_ _2\"></span>l to 50%<span class=\"_ _2\"></span> of t<span class=\"_ _2\"></span>he amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny ta<span class=\"_ _2\"></span>x sav<span class=\"_ _2\"></span>ings t<span class=\"_ _2\"></span>hat T<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>adewe<span class=\"_ _2\"></span>b reali<span class=\"_ _2\"></span>ses as a r<span class=\"_ _2\"></span>esul<span class=\"_ _2\"></span>t of cer<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ain f<span class=\"_ _2\"></span>utu<span class=\"_ _2\"></span>re tax b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>ts to w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>t is en<span class=\"_ _2\"></span>tit<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>d. The Trade<span class=\"_ _2\"></span>web tax receivable agreement liability is measured<span class=\"_ _0\"></span> at amor<span class=\"_ _2\"></span>tised cost.<span class=\"_ _314\"> </span>A<span class=\"_ _2\"></span>s desc<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ed in no<span class=\"_ _2\"></span>te 13, t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup ha<span class=\"_ _2\"></span>s a tax i<span class=\"_ _2\"></span>ndem<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>greem<span class=\"_ _2\"></span>ent wi<span class=\"_ _2\"></span>th Th<span class=\"_ _2\"></span>oms<span class=\"_ _2\"></span>on Reu<span class=\"_ _2\"></span>ters<span class=\"_ _2\"></span>. The G<span class=\"_ _2\"></span>roup h<span class=\"_ _2\"></span>as a <span class=\"ff75 ls6 ws7\">tax indemnity payable</span><span class=\"ls4\"> </span>to Th<span class=\"_ _2\"></span>omso<span class=\"_ _2\"></span>n Reute<span class=\"_ _2\"></span>rs a<span class=\"_ _2\"></span>gains<span class=\"_ _2\"></span>t a ma<span class=\"_ _2\"></span>tchin<span class=\"_ _2\"></span>g tax re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>vabl<span class=\"_ _2\"></span>e whi<span class=\"_ _2\"></span>ch is recognised within current tax r<span class=\"_ _0\"></span>eceivabl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> in the balance sheet. The t<span class=\"_ _2\"></span>ax in<span class=\"_ _2\"></span>dem<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>y pa<span class=\"_ _2\"></span>yabl<span class=\"_ _2\"></span>e is mea<span class=\"_ _2\"></span>sure<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e same b<span class=\"_ _2\"></span>asis a<span class=\"_ _2\"></span>s the indemnif<span class=\"_ _2\"></span>ied tax r<span class=\"_ _0\"></span>eceivable. When there is a<span class=\"_ _0\"></span> change in the ind<span class=\"_ _2\"></span>emn<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied t<span class=\"_ _2\"></span>ax rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble, w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>s reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n tax i<span class=\"_ _2\"></span>n the income statement, there is an<span class=\"_ _0\"></span> of<span class=\"_ _2\"></span>fsett<span class=\"_ _2\"></span>ing ch<span class=\"_ _0\"></span>ange in the tax indemnit<span class=\"_ _2\"></span>y payable.<span class=\"_ _314\"> </span>The Group<span class=\"_ _0\"></span> has granted<span class=\"_ _0\"></span> a put option to<span class=\"_ _0\"></span> non-<span class=\"_ _2\"></span>controlling<span class=\"_ _0\"></span> interest hol<span class=\"_ _2\"></span>der<span class=\"_ _2\"></span>s of LS<span class=\"_ _2\"></span>EG PT<span class=\"_ _2\"></span>S Hol<span class=\"_ _2\"></span>ding<span class=\"_ _2\"></span>s Limi<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span>. The <span class=\"ff75 lsc ws41\">put option liabilit<span class=\"_ _2\"></span>y </span>for non-<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ontrolling interests\u2019 shares<span class=\"ff76\"> is r<span class=\"_ _0\"></span>ecognised init<span class=\"_ _2\"></span>ially at </span>the present value<span class=\"_ _0\"></span> of the expected redemption amount, wi<span class=\"_ _2\"></span>th the cor<span class=\"_ _2\"></span>resp<span class=\"_ _2\"></span>ondi<span class=\"_ _2\"></span>ng cha<span class=\"_ _2\"></span>rge to eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y at<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>uta<span class=\"_ _2\"></span>ble to t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y\u2019s equit<span class=\"_ _2\"></span>y holders. The liability is subsequently remeasured, with the unwinding of the disc<span class=\"_ _0\"></span>ount recognised as a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> cost and changes in the e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>ted r<span class=\"_ _0\"></span>edempt<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> amount recognised in prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t or los<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span>Bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ings a<span class=\"_ _2\"></span>re ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e fair v<span class=\"_ _2\"></span>alu<span class=\"_ _2\"></span>e of amou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s received, net<span class=\"_ _0\"></span> of capitalised direc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> issue cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> arrangement fees (including upfr<span class=\"_ _0\"></span>ont facilit<span class=\"_ _2\"></span>y fees<span class=\"_ _0\"></span>). Subsequentl<span class=\"_ _2\"></span>y<span class=\"_ _3\"></span>, these liabilities are carried at amort<span class=\"_ _2\"></span>ised c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t. In<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t pay<span class=\"_ _2\"></span>able o<span class=\"_ _2\"></span>n bor<span class=\"_ _2\"></span>rowin<span class=\"_ _2\"></span>gs, d<span class=\"_ _2\"></span>irec<span class=\"_ _2\"></span>t is<span class=\"_ _2\"></span>sue co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s and<span class=\"_ _2\"></span> arrangement fees (including upfront<span class=\"_ _0\"></span> facilit<span class=\"_ _2\"></span>y fees<span class=\"_ _0\"></span>) are r<span class=\"_ _0\"></span>ecognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> over the period of<span class=\"_ _0\"></span> the borrowings using the effec<span class=\"_ _2\"></span>tive interest method.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ings a<span class=\"_ _2\"></span>re iden<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed as a he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item i<span class=\"_ _2\"></span>n a desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d fair value hedge r<span class=\"_ _0\"></span>elationship, fair value adjustments are recognised in<span class=\"_ _0\"></span> accordance with our policy (see not<span class=\"_ _0\"></span>e 17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>Group as lessee<span class=\"_ _314\"> </span>When the Group leases an<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> at the lease commencement date a r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sset i<span class=\"_ _2\"></span>s recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d for t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>sed i<span class=\"_ _2\"></span>tem (se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>0) a<span class=\"_ _2\"></span>nd a lea<span class=\"_ _2\"></span>se lia<span class=\"_ _2\"></span>bili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for a<span class=\"_ _2\"></span>ny lea<span class=\"_ _2\"></span>se pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to be p<span class=\"_ _2\"></span>aid ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ease te<span class=\"_ _2\"></span>rm.<span class=\"_ _314\"> </span>L<span class=\"_ _0\"></span>ease liabilities<span class=\"_ _314\"> </span>Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are recognised at<span class=\"_ _0\"></span> the net present value<span class=\"_ _0\"></span> of the rema<span class=\"_ _2\"></span>inin<span class=\"_ _2\"></span>g fu<span class=\"_ _2\"></span>ture pa<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nts t<span class=\"_ _2\"></span>o be mad<span class=\"_ _2\"></span>e over t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>se ter<span class=\"_ _2\"></span>m.<span class=\"_ _314\"> </span>The net pr<span class=\"_ _0\"></span>esent value is det<span class=\"_ _0\"></span>ermined using a discount<span class=\"_ _0\"></span> rate equivalent to the incremental<span class=\"_ _0\"></span> borrowing rate of the leasing<span class=\"_ _0\"></span> entit<span class=\"_ _2\"></span>y unless there<span class=\"_ _0\"></span> is a rate implicit within the lease<span class=\"_ _0\"></span> agreement<span class=\"_ _2\"></span>. Subsequentl<span class=\"_ _2\"></span>y<span class=\"_ _3\"></span>, the amount of lease liabilities is<span class=\"_ _0\"></span> increased to ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he acc<span class=\"_ _2\"></span>retio<span class=\"_ _2\"></span>n of inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t and red<span class=\"_ _2\"></span>uced fo<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ease<span class=\"_ _2\"></span> payments made.<span class=\"_ _314\"> </span>The Group leases<span class=\"_ _0\"></span> many proper<span class=\"_ _2\"></span>ties ar<span class=\"_ _0\"></span>ound the world and lease ter<span class=\"_ _2\"></span>ms var<span class=\"_ _2\"></span>y f<span class=\"_ _2\"></span>rom mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>ly up t<span class=\"_ _2\"></span>o 15 year<span class=\"_ _2\"></span>s. M<span class=\"_ _2\"></span>any of t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e leas<span class=\"_ _2\"></span>es contain option clauses t<span class=\"_ _0\"></span>o extend the lease or br<span class=\"_ _0\"></span>eak clauses to terminate<span class=\"_ _0\"></span> the lease. The lease t<span class=\"_ _0\"></span>erm recognised is the<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span>ca<span class=\"_ _2\"></span>ncell<span class=\"_ _2\"></span>able p<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>od of t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>se plu<span class=\"_ _2\"></span>s any pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>ds for w<span class=\"_ _2\"></span>hich t<span class=\"_ _2\"></span>he Group is r<span class=\"_ _0\"></span>easonably cer<span class=\"_ _2\"></span>tain of<span class=\"_ _0\"></span> exercising<span class=\"_ _0\"></span> any extension options. The Group values<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s right-of-<span class=\"_ _2\"></span>use assets and lease<span class=\"_ _0\"></span> liabilities based on its intentions at the balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> Any change in these intentions is<span class=\"_ _0\"></span> accounted<span class=\"_ _0\"></span> for as<span class=\"_ _0\"></span> a lease modification and the asse<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s and liabilities are<span class=\"_ _0\"></span> amended accordingly<span class=\"_ _0\"></span>. Any resulting effec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> on th<span class=\"_ _2\"></span>e net as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p woul<span class=\"_ _2\"></span>d not b<span class=\"_ _2\"></span>e signi<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ican<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span>V<span class=\"_ _0\"></span>ariable lease payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> based on an index<span class=\"_ _0\"></span> are estimated at the commencement dat<span class=\"_ _0\"></span>e and revalued<span class=\"_ _0\"></span> on an annual basis.<span class=\"_ _314\"> </span>Leas<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s du<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>hin 12 m<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>hs are c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s curr<span class=\"_ _2\"></span>ent liabilities. Payment<span class=\"_ _2\"></span>s due<span class=\"_ _0\"></span> af<span class=\"_ _2\"></span>ter 1<span class=\"_ _0\"></span>2 months are classified as non-<span class=\"_ _2\"></span>current liabilities.<span class=\"_ _314\"> </span>Sho<span class=\"_ _2\"></span>rt-<span class=\"_ _2\"></span>term l<span class=\"_ _2\"></span>eases an<span class=\"_ _2\"></span>d lease<span class=\"_ _2\"></span>s of low val<span class=\"_ _2\"></span>ue asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Ren<span class=\"_ _2\"></span>tal co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s for le<span class=\"_ _2\"></span>ased a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>hat are fo<span class=\"_ _2\"></span>r les<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>n 12 mon<span class=\"_ _2\"></span>ths or ar<span class=\"_ _2\"></span>e for ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>h an in<span class=\"_ _2\"></span>div<span class=\"_ _2\"></span>idu<span class=\"_ _2\"></span>al val<span class=\"_ _2\"></span>ue of le<span class=\"_ _2\"></span>ss th<span class=\"_ _2\"></span>an \u00a35<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 are recognised directly in the income statement on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line bas<span class=\"_ _2\"></span>is over t<span class=\"_ _2\"></span>he li<span class=\"_ _2\"></span>fe of th<span class=\"_ _2\"></span>e leas<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span>Group as lessor<span class=\"_ _314\"> </span>Finance leases<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let<span class=\"_ _2\"></span>s a prop<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>t for sub<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ant<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y all t<span class=\"_ _2\"></span>he use<span class=\"_ _2\"></span>ful li<span class=\"_ _2\"></span>fe of th<span class=\"_ _2\"></span>at ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, thi<span class=\"_ _2\"></span>s is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed as a finance lease. On<span class=\"_ _0\"></span> commencement of a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> sub<span class=\"_ _2\"></span>-lease, the pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y ri<span class=\"_ _2\"></span>ght-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _2\"></span>se ass<span class=\"_ _2\"></span>et is t<span class=\"_ _2\"></span>reated a<span class=\"_ _2\"></span>s dis<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d of and a n<span class=\"_ _2\"></span>et investment in lease, equivalent to<span class=\"_ _0\"></span> the net present value<span class=\"_ _0\"></span> of the fu<span class=\"_ _2\"></span>ture re<span class=\"_ _2\"></span>nt rece<span class=\"_ _2\"></span>ipt<span class=\"_ _2\"></span>s, is re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as a rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble on t<span class=\"_ _2\"></span>he ba<span class=\"_ _2\"></span>lance<span class=\"_ _2\"></span> she<span class=\"_ _2\"></span>et (se<span class=\"_ _2\"></span>e note 13<span class=\"_ _2\"></span>). Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>e val<span class=\"_ _2\"></span>ue of th<span class=\"_ _2\"></span>e recei<span class=\"_ _2\"></span>pt<span class=\"_ _2\"></span>s from t<span class=\"_ _2\"></span>he sub-<span class=\"_ _2\"></span>lease is<span class=\"_ _0\"></span> lower than the amount payable on<span class=\"_ _0\"></span> the head-<span class=\"_ _2\"></span>lease, we rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>se a los<span class=\"_ _2\"></span>s on di<span class=\"_ _2\"></span>spos<span class=\"_ _2\"></span>al of t<span class=\"_ _2\"></span>he rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-us<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et in th<span class=\"_ _2\"></span>e income statement<span class=\"_ _314\"> </span>Ope<span class=\"_ _2\"></span>rating leases<span class=\"_ _314\"> </span>A ri<span class=\"_ _2\"></span>ght-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _2\"></span>se ass<span class=\"_ _2\"></span>et tha<span class=\"_ _2\"></span>t is sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let fo<span class=\"_ _2\"></span>r les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d usef<span class=\"_ _2\"></span>ul li<span class=\"_ _2\"></span>fe is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed as a<span class=\"_ _2\"></span>n oper<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng lea<span class=\"_ _2\"></span>se and r<span class=\"_ _2\"></span>enta<span class=\"_ _2\"></span>l inco<span class=\"_ _2\"></span>me is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed as re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>ved in ot<span class=\"_ _2\"></span>her i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e. We cont<span class=\"_ _2\"></span>inue t<span class=\"_ _2\"></span>o recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span> the proper<span class=\"_ _2\"></span>ty right-<span class=\"_ _2\"></span>of-use asset on<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _314\"> </span>Financial liabilities <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial liabilities at FVPL</span><span class=\"ls6 ws7\"> include the CCP<span class=\"_ _0\"></span> businesses\u2019 </span>clearing member trading balances, including<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives, as wel<span class=\"_ _2\"></span>l as equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>at are ma<span class=\"_ _2\"></span>rked to ma<span class=\"_ _2\"></span>rket on a da<span class=\"_ _2\"></span>ily b<span class=\"_ _2\"></span>asis<span class=\"_ _2\"></span>. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial liabilities at amortised cost</span><span class=\"ls6 ws7\"> are all<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial </span>liabilities that are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> at F<span class=\"_ _2\"></span>VPL. They include pa<span class=\"_ _0\"></span>yables<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> borrowings and other payables to clearing members.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-493": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>rade payables<span class=\"ff76 ls7 wsa\"> are<span class=\"_ _0\"></span> initiall<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>ecognised at fair value, which is </span>usually the amount invoic<span class=\"_ _0\"></span>ed. They are s<span class=\"_ _0\"></span>ubsequent<span class=\"_ _2\"></span>ly measured at amort<span class=\"_ _2\"></span>ised c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span>Accrued expenses<span class=\"ff76 ls6 ws7\"> are r<span class=\"_ _0\"></span>ecognised for goods and<span class=\"_ _0\"></span> ser<span class=\"_ _2\"></span>vices </span>rece<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>d before t<span class=\"_ _2\"></span>he en<span class=\"_ _2\"></span>d of the y<span class=\"_ _2\"></span>ear for w<span class=\"_ _2\"></span>hich n<span class=\"_ _2\"></span>o invo<span class=\"_ _2\"></span>ice has<span class=\"_ _2\"></span> be<span class=\"_ _2\"></span>en rece<span class=\"_ _2\"></span>ived<span class=\"_ _2\"></span>. They a<span class=\"_ _2\"></span>re mea<span class=\"_ _2\"></span>sured a<span class=\"_ _2\"></span>t amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t. Payables include the <span class=\"ff75\">T<span class=\"_ _3\"></span>radeweb tax rec<span class=\"_ _0\"></span>eivable agreement liability<span class=\"_ _0\"></span><span class=\"ff76 ls4 ws3\">. </span></span>In connection wi<span class=\"_ _2\"></span>th T<span class=\"_ _3\"></span>radeweb\u2019<span class=\"_ _0\"></span>s initial public o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fering (IPO), T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>deweb e<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>d into a t<span class=\"_ _2\"></span>ax rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>greem<span class=\"_ _2\"></span>ent w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the owners of T<span class=\"_ _3\"></span>radeweb Markets LL<span class=\"_ _0\"></span>C (the \u201cLLC<span class=\"_ _0\"></span> Ow<span class=\"_ _2\"></span>ners\u201d) immediately prior to<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>s IPO. Under<span class=\"_ _0\"></span> the agreement, T<span class=\"_ _3\"></span>radeweb is req<span class=\"_ _2\"></span>uired t<span class=\"_ _2\"></span>o make ca<span class=\"_ _2\"></span>sh pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to t<span class=\"_ _2\"></span>he LLC Ow<span class=\"_ _2\"></span>ner<span class=\"_ _2\"></span>s equa<span class=\"_ _2\"></span>l to 50%<span class=\"_ _2\"></span> of t<span class=\"_ _2\"></span>he amo<span class=\"_ _2\"></span>unt of a<span class=\"_ _2\"></span>ny ta<span class=\"_ _2\"></span>x sav<span class=\"_ _2\"></span>ings t<span class=\"_ _2\"></span>hat T<span class=\"_ _0\"></span>r<span class=\"_ _2\"></span>adewe<span class=\"_ _2\"></span>b reali<span class=\"_ _2\"></span>ses as a r<span class=\"_ _2\"></span>esul<span class=\"_ _2\"></span>t of cer<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ain f<span class=\"_ _2\"></span>utu<span class=\"_ _2\"></span>re tax b<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>ts to w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>t is en<span class=\"_ _2\"></span>tit<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>d. The Trade<span class=\"_ _2\"></span>web tax receivable agreement liability is measured<span class=\"_ _0\"></span> at amor<span class=\"_ _2\"></span>tised cost.<span class=\"_ _314\"> </span>A<span class=\"_ _2\"></span>s desc<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ed in no<span class=\"_ _2\"></span>te 13, t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup ha<span class=\"_ _2\"></span>s a tax i<span class=\"_ _2\"></span>ndem<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>greem<span class=\"_ _2\"></span>ent wi<span class=\"_ _2\"></span>th Th<span class=\"_ _2\"></span>oms<span class=\"_ _2\"></span>on Reu<span class=\"_ _2\"></span>ters<span class=\"_ _2\"></span>. The G<span class=\"_ _2\"></span>roup h<span class=\"_ _2\"></span>as a <span class=\"ff75 ls6 ws7\">tax indemnity payable</span><span class=\"ls4\"> </span>to Th<span class=\"_ _2\"></span>omso<span class=\"_ _2\"></span>n Reute<span class=\"_ _2\"></span>rs a<span class=\"_ _2\"></span>gains<span class=\"_ _2\"></span>t a ma<span class=\"_ _2\"></span>tchin<span class=\"_ _2\"></span>g tax re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>vabl<span class=\"_ _2\"></span>e whi<span class=\"_ _2\"></span>ch is recognised within current tax r<span class=\"_ _0\"></span>eceivabl<span class=\"_ _2\"></span>e<span class=\"_ _0\"></span> in the balance sheet. The t<span class=\"_ _2\"></span>ax in<span class=\"_ _2\"></span>dem<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>y pa<span class=\"_ _2\"></span>yabl<span class=\"_ _2\"></span>e is mea<span class=\"_ _2\"></span>sure<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e same b<span class=\"_ _2\"></span>asis a<span class=\"_ _2\"></span>s the indemnif<span class=\"_ _2\"></span>ied tax r<span class=\"_ _0\"></span>eceivable. When there is a<span class=\"_ _0\"></span> change in the ind<span class=\"_ _2\"></span>emn<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied t<span class=\"_ _2\"></span>ax rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble, w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>s reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed wi<span class=\"_ _2\"></span>thi<span class=\"_ _2\"></span>n tax i<span class=\"_ _2\"></span>n the income statement, there is an<span class=\"_ _0\"></span> of<span class=\"_ _2\"></span>fsett<span class=\"_ _2\"></span>ing ch<span class=\"_ _0\"></span>ange in the tax indemnit<span class=\"_ _2\"></span>y payable.<span class=\"_ _314\"> </span>The Group<span class=\"_ _0\"></span> has granted<span class=\"_ _0\"></span> a put option to<span class=\"_ _0\"></span> non-<span class=\"_ _2\"></span>controlling<span class=\"_ _0\"></span> interest hol<span class=\"_ _2\"></span>der<span class=\"_ _2\"></span>s of LS<span class=\"_ _2\"></span>EG PT<span class=\"_ _2\"></span>S Hol<span class=\"_ _2\"></span>ding<span class=\"_ _2\"></span>s Limi<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span>. The <span class=\"ff75 lsc ws41\">put option liabilit<span class=\"_ _2\"></span>y </span>for non-<span class=\"_ _2\"></span>c<span class=\"_ _0\"></span>ontrolling interests\u2019 shares<span class=\"ff76\"> is r<span class=\"_ _0\"></span>ecognised init<span class=\"_ _2\"></span>ially at </span>the present value<span class=\"_ _0\"></span> of the expected redemption amount, wi<span class=\"_ _2\"></span>th the cor<span class=\"_ _2\"></span>resp<span class=\"_ _2\"></span>ondi<span class=\"_ _2\"></span>ng cha<span class=\"_ _2\"></span>rge to eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y at<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>uta<span class=\"_ _2\"></span>ble to t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y\u2019s equit<span class=\"_ _2\"></span>y holders. The liability is subsequently remeasured, with the unwinding of the disc<span class=\"_ _0\"></span>ount recognised as a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> cost and changes in the e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>ted r<span class=\"_ _0\"></span>edempt<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> amount recognised in prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t or los<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTradeAndOtherPayablesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-549": {
   "value": "The Group<span class=\"_ _3\"></span>\u2019s sourc<span class=\"_ _0\"></span>es of borro<span class=\"_ _0\"></span>wing for funding<span class=\"_ _0\"></span> and liquidity purposes<span class=\"_ _314\"> </span>inc<span class=\"_ _2\"></span>lude a ra<span class=\"_ _2\"></span>nge of com<span class=\"_ _2\"></span>mit<span class=\"_ _2\"></span>ted ba<span class=\"_ _2\"></span>nk faci<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies and l<span class=\"_ _2\"></span>ong-<span class=\"_ _2\"></span>term a<span class=\"_ _2\"></span>nd<span class=\"_ _314\"> </span>short-term issuanc<span class=\"_ _0\"></span>es in the c<span class=\"_ _0\"></span>apital marke<span class=\"_ _0\"></span>ts including comm<span class=\"_ _0\"></span>ercial paper<span class=\"_ _314\"> </span>and b<span class=\"_ _2\"></span>onds<span class=\"_ _2\"></span>. Liabi<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies ari<span class=\"_ _2\"></span>sing fr<span class=\"_ _2\"></span>om the G<span class=\"_ _2\"></span>roup\u2019s lease a<span class=\"_ _2\"></span>rrang<span class=\"_ _2\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>are al<span class=\"_ _2\"></span>so repo<span class=\"_ _2\"></span>rte<span class=\"_ _2\"></span>d in bor<span class=\"_ _2\"></span>rowin<span class=\"_ _2\"></span>gs. N<span class=\"_ _2\"></span>et debt c<span class=\"_ _2\"></span>ompri<span class=\"_ _2\"></span>ses cash a<span class=\"_ _2\"></span>nd cash<span class=\"_ _314\"> </span>equ<span class=\"_ _2\"></span>ival<span class=\"_ _2\"></span>ents le<span class=\"_ _2\"></span>ss lea<span class=\"_ _2\"></span>se liab<span class=\"_ _2\"></span>ilit<span class=\"_ _2\"></span>ies and b<span class=\"_ _2\"></span>orrow<span class=\"_ _2\"></span>ings<span class=\"_ _2\"></span>, adj<span class=\"_ _2\"></span>usted fo<span class=\"_ _2\"></span>r deri<span class=\"_ _2\"></span>vat<span class=\"_ _2\"></span>ive<span class=\"_ _314\"> </span>fina<span class=\"_ _2\"></span>ncial in<span class=\"_ _0\"></span>st<span class=\"_ _2\"></span>ruments.<span class=\"_ _314\"> </span><table class=\"s w661 h26f\" id=\"_b1c5eaf6-6c1d-4169-b082-32a8c0bdfa41\"><tr><td></td><td></td><td class=\"c n x4c5 y2321 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2321 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4c7 y2322 w33 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c8 y2322 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c9 y2322 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2323 ff75 fs129 fc1 sc0 lsad wsdc\">Non<span class=\"_ _2\"></span>-current<span class=\"_ _1dc\"> </span><span class=\"ls4 ws3\"> <span class=\"_ _45\"> </span></span><span class=\"ls4 ws3\"><span class=\"ff76\"> </span></span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x1e7 h193 y2324 ff76 fs129 fc1 sc0 ls89 wsda\">Bank borrowings<span class=\"_ _0\"></span> \u2013 committed<span class=\"_ _314\"> </span> </td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y2325 w662 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">bank facilities</div><div class=\"t m0 xa6a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x9c7 y2325 wa0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n xa6b y2325 w663 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\"><span class=\"ff76 ls7b wse0\">(6<span class=\"_ _314\"> </span></span><span class=\"ff76 ls7b wse0\">)<span class=\"_ _314\"> </span></span></div></td></tr><tr><td class=\"c n x1eb y2326 w664 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa6c y2326 w30d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xa6d y2326 w665 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>8<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2327 w666 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x938 y2327 w55f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">5<span class=\"_ _2\"></span>02<span class=\"_ _314\"> </span></div></td><td class=\"c n xa6e y2327 w51e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x5d8 y22fd wfc h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">8,<span class=\"_ _2\"></span>393<span class=\"_ _314\"> </span></div></td><td class=\"c n xa6f y22fd w301 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">8,<span class=\"_ _2\"></span>373<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2328 ff75 fs129 fc1 sc0 ls76 ws9f\">Current<span class=\"_ _2a5\"> </span><span class=\"ls4 ws3\"> <span class=\"_ _d2\"> </span></span><span class=\"ls4 ws3\"><span class=\"ff76\"> </span></span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22ff w667 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Commercial paper<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa70 y22ff w668 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa3 wsce\">1,<span class=\"_ _2\"></span>841<span class=\"_ _314\"> </span></div></td><td class=\"c n xa71 y22ff w669 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">1,037<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2300 w664 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa72 y2300 w4c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">1,<span class=\"_ _2\"></span>359<span class=\"_ _314\"> </span></div></td><td class=\"c n xa73 y2300 w66a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">415<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a1 w666 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa74 y22a1 w62 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">125<span class=\"_ _314\"> </span></div></td><td class=\"c n xa75 y22a1 w66b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">140<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x5d8 y2285 w66c h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls39 ws0\">3,<span class=\"_ _2\"></span>325<span class=\"_ _314\"> </span></div></td><td class=\"c n xa76 y2285 w66d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa2 wscd\">1<span class=\"_ _2\"></span>,592<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2286 w66e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> and lease liabilities<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa77 y2286 w66f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">11,7<span class=\"_ _2\"></span>18<span class=\"_ _314\"> </span></div></td><td class=\"c n xa78 y2286 w670 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">9,9<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2329 ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> borrowings ex<span class=\"_ _0\"></span>cluding<span class=\"_ _314\"> </span> </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2288 w671 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xa79 y2288 w397 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n xa7a y2288 w672 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">11,09<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xa7b y2288 w673 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">9,<span class=\"_ _2\"></span>331<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w666 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td class=\"c n xa7c y228f w356 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n xa7d y228f wa8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">627<span class=\"_ _314\"> </span></div></td><td class=\"c n xa7e y228f w674 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8 ws5\">634<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w66e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> and lease liabilities<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa77 y2069 w66f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb0 wsdb\">11,7<span class=\"_ _2\"></span>18</div></td><td class=\"t m0 xa7f h193 y232a ff76 fs129 fc1 sc0 lsa4 wscf\">9,965<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>Balances are<span class=\"_ _0\"></span> shown net<span class=\"_ _0\"></span> of capitalised arrangement fees. Where<span class=\"_ _0\"></span> there are<span class=\"_ _0\"></span> no amounts<span class=\"_ _314\"> </span>borrowed on<span class=\"_ _0\"></span> a particular facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, this gives<span class=\"_ _0\"></span> rise to a<span class=\"_ _0\"></span> negative balance.<span class=\"_ _314\"> </span>16<span class=\"_ _2\"></span>. Borrowings, lease<span class=\"_ _2\"></span> liabilities and net debt<span class=\"_ _314\"> </span>16.<span class=\"_ _0\"></span>1 Borrowings  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span>Bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ings a<span class=\"_ _2\"></span>re ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e fair v<span class=\"_ _2\"></span>alu<span class=\"_ _2\"></span>e of amou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s received, net<span class=\"_ _0\"></span> of capitalised direc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> issue cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> arrangement fees (including upfr<span class=\"_ _0\"></span>ont facilit<span class=\"_ _2\"></span>y fees<span class=\"_ _0\"></span>). Subsequentl<span class=\"_ _2\"></span>y<span class=\"_ _3\"></span>, these liabilities are carried at amort<span class=\"_ _2\"></span>ised c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t. In<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t pay<span class=\"_ _2\"></span>able o<span class=\"_ _2\"></span>n bor<span class=\"_ _2\"></span>rowin<span class=\"_ _2\"></span>gs, d<span class=\"_ _2\"></span>irec<span class=\"_ _2\"></span>t is<span class=\"_ _2\"></span>sue co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s and<span class=\"_ _2\"></span> arrangement fees (including upfront<span class=\"_ _0\"></span> facilit<span class=\"_ _2\"></span>y fees<span class=\"_ _0\"></span>) are r<span class=\"_ _0\"></span>ecognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> over the period of<span class=\"_ _0\"></span> the borrowings using the effec<span class=\"_ _2\"></span>tive interest method.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ings a<span class=\"_ _2\"></span>re iden<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed as a he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item i<span class=\"_ _2\"></span>n a desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d fair value hedge r<span class=\"_ _0\"></span>elationship, fair value adjustments are recognised in<span class=\"_ _0\"></span> accordance with our policy (see not<span class=\"_ _0\"></span>e 17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>The Group has<span class=\"_ _0\"></span> the following committed bank facilities, commercial paper and<span class=\"_ _0\"></span> unsecured bonds:<span class=\"_ _314\"> </span><table class=\"s w675 h270\" id=\"_14f22488-74a9-4d2e-a64f-1d5f376a5332\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xa80 h13 y232b ff75 fs6 fc1 sc0 ls110 ws7\">Carr<span class=\"_ _2\"></span>ying value<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xa81 hb y232c ff76 fs6 fc1 sc0 ls12 ws81\">Maturit<span class=\"_ _2\"></span>y <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 x429 hb y232d ff76 fs6 fc1 sc0 ls27 ws45\">Facility/b<span class=\"_ _2\"></span>ond<span class=\"_ _314\"> </span></td><td class=\"c n xa82 y232e w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xa83 y232e w270 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n xa84 y232e w676 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9e ws45\">Inte<span class=\"_ _2\"></span>rest rate<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 xa85 hb y232f ff76 fs6 fc1 sc0 ls12 ws81\">date<span class=\"_ _314\"> </span></td><td class=\"c n xa86 y2330 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xa87 y2330 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xa88 y2330 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xa89 y2330 w4f3 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2331 ff75 fs129 fc1 sc0 ls6d wsd4\">Committed bank facilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y2332 w677 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Multi<span class=\"_ _2\"></span>-currency revolving credit facility</div><div class=\"t m0 xa8a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa8b y2332 w678 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">De<span class=\"_ _2\"></span>c 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xa8c y2332 w679 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">1<span class=\"_ _2\"></span>,9<span class=\"_ _2\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xa8d y2332 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xa8e y2332 w53c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c xa90 y2332 w67a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">s<span class=\"_ _2\"></span>ee no<span class=\"_ _2\"></span>te</div><div class=\"t m0 xa8f h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2333 w677 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Multi<span class=\"_ _2\"></span>-currency revolving credit facility</div><div class=\"t m0 xa8a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa8b y2333 w678 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">De<span class=\"_ _2\"></span>c 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xa91 y2333 w67b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,075<span class=\"_ _314\"> </span></div></td><td class=\"c n xa92 y2333 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xa93 y2333 w53c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c xa95 y2333 w67c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">s<span class=\"_ _2\"></span>ee no<span class=\"_ _2\"></span>te</div><div class=\"t m0 xa94 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2334 w67d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span> mult<span class=\"_ _2\"></span>i-currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> revolving credit facility</div><div class=\"t m0 xa96 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa8b y2334 w67e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsdc\">No<span class=\"_ _2\"></span>v 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xa97 y2334 w67f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">371<span class=\"_ _314\"> </span></div></td><td class=\"c n xa98 y2334 w680 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xa99 y2334 w34a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>2)<span class=\"_ _314\"> </span></div></td><td class=\"c xa9b y2334 w681 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">se<span class=\"_ _2\"></span>e note</div><div class=\"t m0 xa9a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"c n xa9c y2335 w682 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">3,<span class=\"_ _2\"></span>371<span class=\"_ _314\"> </span></div></td><td class=\"c n xa9d y2335 w680 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xa9e y2335 w683 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">(6)<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c n x1eb y2336 w684 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws5\">Commercial paper<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xa9f y2336 w685 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>,8<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa0 y2336 w686 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">1,037<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa1 y2336 w687 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 wsaf\">0.<span class=\"_ _2\"></span>502<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2337 ff75 fs129 fc1 sc0 ls6c ws96\">Bonds<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2338 w688 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued April 20<span class=\"_ _0\"></span>21<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaa2 y2338 w689 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsb5\">A<span class=\"_ _2\"></span>pr 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa3 y2338 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa4 y2338 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa5 y2338 w66a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">415<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa6 y2338 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws76\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2339 w68a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">$1<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>, iss<span class=\"_ _2\"></span>ued A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2021<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaa7 y2339 w68b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsdc\">Ap<span class=\"_ _2\"></span>r 2026<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa8 y2339 w68c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb4 wse2\">74<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa9 y2339 w68d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls78 wse4\">742<span class=\"_ _314\"> </span></div></td><td class=\"c n xaaa y2339 w68e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">798<span class=\"_ _314\"> </span></div></td><td class=\"c n xaab y2339 w68f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">1.<span class=\"_ _2\"></span>375<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233a w690 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac700 million<span class=\"_ _0\"></span> bond, issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>3<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaac y233a w691 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsdc\">S<span class=\"_ _2\"></span>ep 2026<span class=\"_ _314\"> </span></div></td><td class=\"c n xaad y233a w692 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls72 ws9b\">61<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xaae y233a w693 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xaaf y233a w694 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa2 wscd\">592<span class=\"_ _314\"> </span></div></td><td class=\"c n xab0 y233a w695 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">4<span class=\"_ _2\"></span>.125<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233b w696 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">$500 million<span class=\"_ _0\"></span> bond, issued March<span class=\"_ _0\"></span> 202<span class=\"_ _3\"></span>4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xab1 y233b w697 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">Ma<span class=\"_ _2\"></span>r 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xab2 y233b w67f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">371<span class=\"_ _314\"> </span></div></td><td class=\"c n xab3 y233b w698 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6a ws1\">370<span class=\"_ _314\"> </span></div></td><td class=\"c n xab4 y233b w13f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">397<span class=\"_ _314\"> </span></div></td><td class=\"c n xab5 y233b w699 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">4.875<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233c w69a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">\u20ac600 million bond, issued<span class=\"_ _0\"></span> September 20<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xab6 y233c w69b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">Se<span class=\"_ _2\"></span>p 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xab7 y233c wa3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb9 wse9\">524<span class=\"_ _314\"> </span></div></td><td class=\"c n xab8 y233c w5a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls71 ws9a\">521<span class=\"_ _314\"> </span></div></td><td class=\"c n xab9 y233c w69c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xaba y233c w69d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">2.75<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233d w69e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">$100 million bond,<span class=\"_ _0\"></span> issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xabb y233d w69b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">Se<span class=\"_ _2\"></span>p 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xabc y233d w69f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb4 wse2\">74<span class=\"_ _314\"> </span></div></td><td class=\"c n xabd y233d w6a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls78 wse4\">74<span class=\"_ _314\"> </span></div></td><td class=\"c n xabe y233d w6a1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">79<span class=\"_ _314\"> </span></div></td><td class=\"c n xabf y233d w6a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">4.000<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233e w6a3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued December 2<span class=\"_ _0\"></span>018<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xac0 y233e w6a4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">D<span class=\"_ _2\"></span>ec 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xac1 y233e w6a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">43<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xac2 y233e w19a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">435<span class=\"_ _314\"> </span></div></td><td class=\"c n xac3 y233e w6a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">41<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xac4 y233e w6a7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>.750<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233f w688 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued April 20<span class=\"_ _0\"></span>21<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaa2 y233f w6a8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsdc\">A<span class=\"_ _2\"></span>pr 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xac5 y233f w6a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">436<span class=\"_ _314\"> </span></div></td><td class=\"c n xac6 y233f w19a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">435<span class=\"_ _314\"> </span></div></td><td class=\"c n xac7 y233f w6aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">414<span class=\"_ _314\"> </span></div></td><td class=\"c n x2be y233f w6ab h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">0.<span class=\"_ _2\"></span>250<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2340 w68a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">$1<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>, iss<span class=\"_ _2\"></span>ued A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2021<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaa7 y2340 w6a8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsdc\">A<span class=\"_ _2\"></span>pr 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xac8 y2340 w68c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb4 wse2\">74<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xac9 y2340 w6ac h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls78 wse4\">741<span class=\"_ _314\"> </span></div></td><td class=\"c n xaca y2340 w6ad h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">797<span class=\"_ _314\"> </span></div></td><td class=\"c n xacb y2340 w6ae h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">2.<span class=\"_ _0\"></span>000<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2341 w6af h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a511,50<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span> million<span class=\"_ _314\"> </span></div></td><td class=\"c n xacc y2341 w6b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">bond, issued<span class=\"_ _0\"></span> April 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xacd y2341 w6b1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsdc\">Apr 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xace y2341 w6b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">55<span class=\"_ _314\"> </span></div></td><td class=\"c n xacf y2341 w6b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls88 wsb4\">54<span class=\"_ _314\"> </span></div></td><td class=\"c n xad0 y2341 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xad1 y2341 w6b4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>.493<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2342 w6b5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a3400 million<span class=\"_ _0\"></span> bond, issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xad2 y2342 w6b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsdc\">Oc<span class=\"_ _2\"></span>t 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xad3 y2342 w583 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">400<span class=\"_ _314\"> </span></div></td><td class=\"c n xad4 y2342 w6b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsac wsd7\">401<span class=\"_ _314\"> </span></div></td><td class=\"c n xad5 y2342 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xad6 y2342 w6b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">4.50<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2343 w6b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued September 2<span class=\"_ _0\"></span>017<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xad7 y2343 w6ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 ws0\">S<span class=\"_ _2\"></span>ep 2029<span class=\"_ _314\"> </span></div></td><td class=\"c n xad8 y2343 w46d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">436<span class=\"_ _314\"> </span></div></td><td class=\"c n xad9 y2343 w6bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">435<span class=\"_ _314\"> </span></div></td><td class=\"c n xada y2343 w6a6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">41<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xadb y2343 w6a7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>.750<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2344 w6bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a3500 million bond,<span class=\"_ _0\"></span> issued April 20<span class=\"_ _0\"></span>21<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xadc y2344 w6bd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">A<span class=\"_ _2\"></span>pr 203<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xadd y2344 w6be h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">500<span class=\"_ _314\"> </span></div></td><td class=\"c n xade y2344 w6bf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">496<span class=\"_ _314\"> </span></div></td><td class=\"c n xadf y2344 w386 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xae0 y2344 w679 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">1<span class=\"_ _2\"></span>.6<span class=\"_ _2\"></span>25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2345 w6c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a514,30<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span> million bond, issued<span class=\"_ _0\"></span> April 202<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xae1 y2345 w6c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ap<span class=\"_ _2\"></span>r 2030<span class=\"_ _314\"> </span></div></td><td class=\"c n xae2 y2345 w101 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xae3 y2345 w6c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xae4 y2345 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xae5 y2345 w6c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsea ws113\">1.73<span class=\"_ _0\"></span>2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2346 w690 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac700 million<span class=\"_ _0\"></span> bond, issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>3<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaac y2346 w6c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>p 2030<span class=\"_ _314\"> </span></div></td><td class=\"c n xae6 y2346 w692 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">61<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xae7 y2346 w6c5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">629<span class=\"_ _314\"> </span></div></td><td class=\"c n xae8 y2346 w6c6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">608<span class=\"_ _314\"> </span></div></td><td class=\"c n xae9 y2346 w6c7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">4<span class=\"_ _2\"></span>.231<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2347 w6c8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">$750 million<span class=\"_ _0\"></span> bond, issued April 2<span class=\"_ _0\"></span>021</div><div class=\"t m0 xaea h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaeb y2347 w6c9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ap<span class=\"_ _2\"></span>r 2031<span class=\"_ _314\"> </span></div></td><td class=\"c n xaec y2347 w6ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">557<span class=\"_ _314\"> </span></div></td><td class=\"c n xaed y2347 w6cb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">55<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xaee y2347 w6cc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">795<span class=\"_ _314\"> </span></div></td><td class=\"c n xaef y2347 w6cd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">2.5<span class=\"_ _2\"></span>00<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2348 w6ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued November 2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaf0 y2348 w6cf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">N<span class=\"_ _2\"></span>ov 203<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf1 y2348 w46d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">436<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf2 y2348 w6d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">4<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf3 y2348 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf4 y2348 w6d1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">3.000<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2349 w6d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20a3150 million<span class=\"_ _0\"></span> bond, issued April 2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaf5 y2349 w6d3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">A<span class=\"_ _2\"></span>pr 20<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf6 y2349 w6d4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">141<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf7 y2349 wa3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">140<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf8 y2349 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf9 y2349 w6d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>.15<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234a w6d6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a3500 million bond,<span class=\"_ _0\"></span> issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xafa y234a w6d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>p 2032<span class=\"_ _314\"> </span></div></td><td class=\"c n xafb y234a w6d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xafc y234a w64d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">49<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xafd y234a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xafe y234a w6d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">4.875<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d6 w688 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued April 20<span class=\"_ _0\"></span>21<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaff y22d6 w6da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wscc\">Apr<span class=\"_ _0\"></span> 20<span class=\"_ _0\"></span>33<span class=\"_ _314\"> </span></div></td><td class=\"c n xb00 y22d6 w1f3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">43<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xb01 y22d6 w6d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">4<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td><td class=\"c n xb02 y22d6 w6db h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">410<span class=\"_ _314\"> </span></div></td><td class=\"c n xb03 y22d6 w6dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">0.750<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234b w6dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">$750 million<span class=\"_ _0\"></span> bond, issued March<span class=\"_ _0\"></span> 202<span class=\"_ _3\"></span>4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb04 y234b w6de h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ma<span class=\"_ _2\"></span>r 2034<span class=\"_ _314\"> </span></div></td><td class=\"c n xb05 y234b w6ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">557<span class=\"_ _314\"> </span></div></td><td class=\"c n xb06 y234b w6df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">5<span class=\"_ _2\"></span>61<span class=\"_ _314\"> </span></div></td><td class=\"c n xb07 y234b w6e0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">587<span class=\"_ _314\"> </span></div></td><td class=\"c n xb08 y234b w6e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">5.<span class=\"_ _2\"></span>297<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a3 w6e2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">\u00a59<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>, iss<span class=\"_ _2\"></span>ued A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2025<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb09 y22a3 w6e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ap<span class=\"_ _2\"></span>r 2035<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0a y22a3 w6e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">43<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0b y22a3 w6e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">43<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0c y22a3 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0d y22a3 w6e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">2.1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w6e7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">\u00a55<span class=\"_ _2\"></span>,2<span class=\"_ _2\"></span>00 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n bon<span class=\"_ _2\"></span>d, is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d Apr<span class=\"_ _2\"></span>il 2025<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb0e y22d9 w6e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 ws9e\">Apr 2037<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf6 y22d9 w6e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0f y22d9 w6ea h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _314\"> </span></div></td><td class=\"c n xae4 y22d9 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb10 y22d9 w6eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">2.<span class=\"_ _2\"></span>382<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w6ec h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">$750 million<span class=\"_ _0\"></span> bond, issued April 2<span class=\"_ _0\"></span>021<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb11 y2297 w6ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ap<span class=\"_ _2\"></span>r 2041<span class=\"_ _314\"> </span></div></td><td class=\"c n xb12 y2297 w6ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">557<span class=\"_ _314\"> </span></div></td><td class=\"c n xb13 y2297 w6ee h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">549<span class=\"_ _314\"> </span></div></td><td class=\"c n x1f0 y2297 w694 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">592<span class=\"_ _314\"> </span></div></td><td class=\"c n xb14 y2297 w6ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">3.<span class=\"_ _2\"></span>200<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"c n xb15 y2288 w6f0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">9,<span class=\"_ _2\"></span>258<span class=\"_ _314\"> </span></div></td><td class=\"c n xb16 y2288 w6f1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb5 wse3\">9<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>251<span class=\"_ _314\"> </span></div></td><td class=\"c n xb17 y2288 w6f2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">8<span class=\"_ _2\"></span>,300<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c n x1eb y2069 w6f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> excluding lease liabilities<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xb18 y2069 w6f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">11<span class=\"_ _2\"></span>,091<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x76b h193 y234c ff76 fs129 fc1 sc0 ls4 ws3\">9,3<span class=\"_ _2\"></span>31<span class=\"_ _314\"> </span></td><td></td></tr></table>1 <span class=\"_ _c\"> </span>Negative balances r<span class=\"_ _0\"></span>epresent the value o<span class=\"_ _0\"></span>f unamort<span class=\"_ _2\"></span>ised<span class=\"_ _0\"></span> arrangement fees.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>In<span class=\"_ _2\"></span>tere<span class=\"_ _2\"></span>st is p<span class=\"_ _2\"></span>aya<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e ris<span class=\"_ _2\"></span>k-fr<span class=\"_ _2\"></span>ee ra<span class=\"_ _2\"></span>te pl<span class=\"_ _2\"></span>us a ma<span class=\"_ _2\"></span>rgin a<span class=\"_ _2\"></span>nd cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt sp<span class=\"_ _2\"></span>rea<span class=\"_ _2\"></span>d (CA<span class=\"_ _2\"></span>S)<span class=\"_ _2\"></span>. The C<span class=\"_ _2\"></span>AS i<span class=\"_ _2\"></span>s var<span class=\"_ _2\"></span>iab<span class=\"_ _2\"></span>le an<span class=\"_ _2\"></span>d dep<span class=\"_ _2\"></span>end<span class=\"_ _2\"></span>s on t<span class=\"_ _2\"></span>he ten<span class=\"_ _2\"></span>or an<span class=\"_ _2\"></span>d cur<span class=\"_ _2\"></span>ren<span class=\"_ _2\"></span>cy o<span class=\"_ _2\"></span>f the b<span class=\"_ _2\"></span>orr<span class=\"_ _2\"></span>owi<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>3 <span class=\"_ _7\"> </span>I<span class=\"_ _2\"></span>nte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t is pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le at a r<span class=\"_ _2\"></span>ate e<span class=\"_ _2\"></span>qual t<span class=\"_ _2\"></span>o, at Trad<span class=\"_ _2\"></span>ewe<span class=\"_ _2\"></span>b\u2019s opt<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>, eit<span class=\"_ _2\"></span>her (a<span class=\"_ _2\"></span>) a bas<span class=\"_ _2\"></span>e rat<span class=\"_ _2\"></span>e plu<span class=\"_ _2\"></span>s a marg<span class=\"_ _2\"></span>in or (<span class=\"_ _2\"></span>b) t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk-f<span class=\"_ _2\"></span>ree r<span class=\"_ _2\"></span>ate p<span class=\"_ _2\"></span>lus a C<span class=\"_ _2\"></span>AS p<span class=\"_ _2\"></span>lus a m<span class=\"_ _2\"></span>arg<span class=\"_ _2\"></span>in, d<span class=\"_ _2\"></span>epe<span class=\"_ _2\"></span>ndi<span class=\"_ _2\"></span>ng on t<span class=\"_ _2\"></span>he cu<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>nc<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>4 <span class=\"_ _7\"> </span>I<span class=\"_ _2\"></span>n Mar<span class=\"_ _2\"></span>ch 2025<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p com<span class=\"_ _2\"></span>ple<span class=\"_ _2\"></span>ted a te<span class=\"_ _2\"></span>nde<span class=\"_ _2\"></span>r of<span class=\"_ _2\"></span>fer to r<span class=\"_ _2\"></span>epu<span class=\"_ _2\"></span>rcha<span class=\"_ _2\"></span>se US<span class=\"_ _2\"></span>$250 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: US$<span class=\"_ _2\"></span>250 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on) of t<span class=\"_ _2\"></span>he o<span class=\"_ _2\"></span>rig<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>l US$<span class=\"_ _2\"></span>1,<span class=\"_ _2\"></span>250 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on bo<span class=\"_ _2\"></span>nd is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d in Ap<span class=\"_ _2\"></span>ri<span class=\"_ _2\"></span>l 2021 an<span class=\"_ _2\"></span>d mat<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng in A<span class=\"_ _2\"></span>pr<span class=\"_ _2\"></span>il 203<span class=\"_ _2\"></span>1.<span class=\"_ _314\"> </span>Commit<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed bank facilities: Multi-<span class=\"_ _2\"></span>curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>evolving credit facilities<span class=\"_ _314\"> </span>In 2023<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup a<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ded i<span class=\"_ _2\"></span>ts \u00a3<span class=\"_ _2\"></span>1,425 mil<span class=\"_ _2\"></span>lion re<span class=\"_ _2\"></span>volv<span class=\"_ _2\"></span>ing c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, incr<span class=\"_ _0\"></span>easing the facilit<span class=\"_ _2\"></span>y amount<span class=\"_ _0\"></span> to \u00a31,925<span class=\"_ _0\"></span> million and extending th<span class=\"_ _2\"></span>e matu<span class=\"_ _2\"></span>rit<span class=\"_ _2\"></span>y to D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2027<span class=\"_ _0\"></span>. The G<span class=\"_ _2\"></span>roup r<span class=\"_ _2\"></span>etai<span class=\"_ _2\"></span>ned acc<span class=\"_ _2\"></span>ess to i<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span> \u00a31,075 million<span class=\"_ _0\"></span> revolving credit facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, which<span class=\"_ _0\"></span> also matures in<span class=\"_ _0\"></span> December 2027<span class=\"_ _3\"></span>. I<span class=\"_ _2\"></span>n Nov<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 2023, T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>deweb t<span class=\"_ _2\"></span>ermi<span class=\"_ _2\"></span>nated i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s revol<span class=\"_ _2\"></span>vin<span class=\"_ _2\"></span>g cred<span class=\"_ _2\"></span>it facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, enter<span class=\"_ _0\"></span>ed into in<span class=\"_ _0\"></span> Ap<span class=\"_ _2\"></span>ril<span class=\"_ _0\"></span><span class=\"_ gsbf\"> </span>2019, and r<span class=\"_ _0\"></span>eplaced it with a new US$500<span class=\"_ gsbf\"> </span>million r<span class=\"_ _0\"></span>evolving credit facilit<span class=\"_ _2\"></span>y which m<span class=\"_ _0\"></span>atures in November 20<span class=\"_ _0\"></span>28. No amounts were outst<span class=\"_ _2\"></span>anding under<span class=\"_ _0\"></span> either the Group facilities or the T<span class=\"_ _3\"></span>rad<span class=\"_ _2\"></span>ew<span class=\"_ _0\"></span>eb facilit<span class=\"_ _2\"></span>y as<span class=\"_ _0\"></span> at 31 December 20<span class=\"_ _0\"></span>25.<span class=\"_ _314\"> </span>Commercial paper<span class=\"_ _314\"> </span>The Group operates<span class=\"_ _0\"></span> a Euro Commerc<span class=\"_ _0\"></span>ial Paper (ECP) Programme, wi<span class=\"_ _2\"></span>th a li<span class=\"_ _2\"></span>mit o<span class=\"_ _2\"></span>f \u00a32.<span class=\"_ _2\"></span>25<span class=\"_ gsbf\"> </span>bill<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>, and a US C<span class=\"_ _2\"></span>omm<span class=\"_ _2\"></span>ercial P<span class=\"_ _2\"></span>ape<span class=\"_ _2\"></span>r (US<span class=\"_ _2\"></span>CP) Pro<span class=\"_ _2\"></span>gram<span class=\"_ _2\"></span>me, w<span class=\"_ _2\"></span>ith a l<span class=\"_ _2\"></span>imi<span class=\"_ _2\"></span>t of \u00a31<span class=\"_ _2\"></span>.8<span class=\"_ _2\"></span>6 bill<span class=\"_ _2\"></span>ion. A<span class=\"_ _2\"></span>s at 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, US$1,<span class=\"_ _2\"></span>383 million (\u00a31,039<span class=\"_ gsbf\"> </span>million<span class=\"_ _0\"></span>) was outs<span class=\"_ _2\"></span>tanding under the USCP Programme (20<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>4: $944<span class=\"_ gsbf\"> </span>million (\u00a3753<span class=\"_ gsbf\"> </span>million<span class=\"_ _0\"></span>)), and \u20ac850 million (\u00a3<span class=\"_ _2\"></span>7<span class=\"_ _0\"></span>42<span class=\"_ gsbf\"> </span>mil<span class=\"_ _2\"></span>lion) a<span class=\"_ _2\"></span>nd \u00a360<span class=\"_ gsbf\"> </span>m<span class=\"_ _2\"></span>illio<span class=\"_ _2\"></span>n und<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>e ECP Pr<span class=\"_ _2\"></span>ogra<span class=\"_ _2\"></span>mme (<span class=\"_ _2\"></span>202<span class=\"_ _0\"></span>4: \u20ac252<span class=\"_ _0\"></span><span class=\"_ gsbf\"> </span>million (\u00a3209<span class=\"_ gsbf\"> </span>million)<span class=\"_ _0\"></span> and \u00a375<span class=\"_ gsbf\"> </span>million<span class=\"_ _0\"></span>)<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls49 wsa5 gs417\">Bonds<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs418\">In M<span class=\"_ _2\"></span>arch 2025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup com<span class=\"_ _2\"></span>plet<span class=\"_ _2\"></span>ed a tend<span class=\"_ _2\"></span>er of<span class=\"_ _2\"></span>fer to re<span class=\"_ _2\"></span>purc<span class=\"_ _2\"></span>hase </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs419\">US$250<span class=\"_ _0\"></span> million of the original US$1,250 million<span class=\"_ _0\"></span> bond issued in April </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs41a\">2021 an<span class=\"_ _2\"></span>d matu<span class=\"_ _2\"></span>ring i<span class=\"_ _2\"></span>n Ap<span class=\"_ _2\"></span>ril 203<span class=\"_ _2\"></span>1. U<span class=\"_ _2\"></span>S$224 mill<span class=\"_ _2\"></span>ion wa<span class=\"_ _2\"></span>s paid t<span class=\"_ _2\"></span>o repurc<span class=\"_ _2\"></span>hase<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs41b\">the bond, including US$3 million of<span class=\"_ _0\"></span> accrued interest. A gain o<span class=\"_ _0\"></span>f </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs41c\">\u00a323<span class=\"_ gsbf\"> </span>million has<span class=\"_ _0\"></span> been recognised in finance income<span class=\"_ _0\"></span> (see note<span class=\"_ _0\"></span> 5.1), which </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs41d\">includes the release<span class=\"_ _0\"></span> of deferred<span class=\"_ _0\"></span> arrangement fees, the par<span class=\"_ _2\"></span>tial r<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>ycling </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs41e\">of a ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low he<span class=\"_ _2\"></span>dge f<span class=\"_ _2\"></span>rom t<span class=\"_ _2\"></span>he hed<span class=\"_ _2\"></span>ging r<span class=\"_ _2\"></span>eser<span class=\"_ _2\"></span>ve a<span class=\"_ _2\"></span>nd tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n cost<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls7 wsa gs41f\">which together totalled \u00a31 million. US$750 million of<span class=\"_ _0\"></span> the bond remains </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs420\">out<span class=\"_ _2\"></span>standing, af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> the repurchase o<span class=\"_ _0\"></span>f US$250 milli<span class=\"_ _0\"></span>on in December 2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>4.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs421\">In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d a CH<span class=\"_ _2\"></span>F150 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs422\">mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Ap<span class=\"_ _2\"></span>ril 20<span class=\"_ _2\"></span>32 unde<span class=\"_ _2\"></span>r the E<span class=\"_ _2\"></span>uro Me<span class=\"_ _2\"></span>dium T<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>rm No<span class=\"_ _2\"></span>te (EM<span class=\"_ _2\"></span>TN)<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs423\">Programme.<span class=\"_ _0\"></span> The bond has<span class=\"_ _0\"></span> been designated<span class=\"_ _0\"></span> as a hedging<span class=\"_ _0\"></span> instr<span class=\"_ _2\"></span>ument<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs424\">in a C<span class=\"_ _2\"></span>HF ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent he<span class=\"_ _2\"></span>dge (s<span class=\"_ _2\"></span>ee not<span class=\"_ _2\"></span>e 17<span class=\"_ _0\"></span>.4a)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs425\">In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d JP<span class=\"_ _2\"></span>Y<span class=\"_ _3\"></span>4<span class=\"_ _2\"></span>0 bil<span class=\"_ _2\"></span>lion of f<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>xed rate b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s unde<span class=\"_ _2\"></span>r </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs426\">th<span class=\"_ _2\"></span>e EMT<span class=\"_ _2\"></span>N. Th<span class=\"_ _2\"></span>e iss<span class=\"_ _2\"></span>ue con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>ted of a J<span class=\"_ _2\"></span>PY11<span class=\"_ _2\"></span>.5 b<span class=\"_ _2\"></span>illio<span class=\"_ _2\"></span>n bon<span class=\"_ _2\"></span>d matu<span class=\"_ _2\"></span>ring i<span class=\"_ _2\"></span>n Apr<span class=\"_ _2\"></span>il </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs427\">2028, a J<span class=\"_ _2\"></span>PY14<span class=\"_ _2\"></span>.3 b<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on bon<span class=\"_ _2\"></span>d matu<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g in Ap<span class=\"_ _2\"></span>ril 203<span class=\"_ _2\"></span>0, a JP<span class=\"_ _2\"></span>Y9 bill<span class=\"_ _2\"></span>ion bo<span class=\"_ _2\"></span>nd </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs428\">mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Ap<span class=\"_ _2\"></span>ril 20<span class=\"_ _2\"></span>35 and a J<span class=\"_ _2\"></span>PY5<span class=\"_ _2\"></span>.2 b<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on bo<span class=\"_ _2\"></span>nd mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Ap<span class=\"_ _2\"></span>ril 203<span class=\"_ _2\"></span>7<span class=\"_ _3\"></span>. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs429\">The b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s have be<span class=\"_ _2\"></span>en de<span class=\"_ _2\"></span>sign<span class=\"_ _2\"></span>ated as h<span class=\"_ _2\"></span>edg<span class=\"_ _2\"></span>ing in<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s in a J<span class=\"_ _2\"></span>PY net </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs42a\">investment hedge (see note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.4a).<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs42b\">In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, the \u20ac<span class=\"_ _2\"></span>50<span class=\"_ _2\"></span>0 mill<span class=\"_ _2\"></span>ion bo<span class=\"_ _2\"></span>nd is<span class=\"_ _2\"></span>sued i<span class=\"_ _2\"></span>n Apr<span class=\"_ _2\"></span>il 2021 ma<span class=\"_ _2\"></span>tured<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs42c\">In S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d a \u00a3400<span class=\"_ gsbf\"> </span>m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs42d\">mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Oc<span class=\"_ _2\"></span>tob<span class=\"_ _2\"></span>er 2028, a<span class=\"_ _2\"></span>nd a \u00a350<span class=\"_ _2\"></span>0<span class=\"_ gsbf\"> </span>mil<span class=\"_ _2\"></span>lion f<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>xed rat<span class=\"_ _2\"></span>e bond<span class=\"_ _2\"></span>, matu<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs42e\">in S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2032, u<span class=\"_ _2\"></span>nde<span class=\"_ _2\"></span>r the E<span class=\"_ _2\"></span>MTN<span class=\"_ _2\"></span>. On t<span class=\"_ _2\"></span>he sam<span class=\"_ _2\"></span>e day, the G<span class=\"_ _2\"></span>roup<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs42f\">ent<span class=\"_ _2\"></span>ered in<span class=\"_ _2\"></span>to a ser<span class=\"_ _2\"></span>ies of G<span class=\"_ _2\"></span>BP i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st ra<span class=\"_ _2\"></span>te swa<span class=\"_ _2\"></span>ps to sw<span class=\"_ _2\"></span>ap th<span class=\"_ _2\"></span>e fi<span class=\"_ _2\"></span>xed </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs430\">intere<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligations on the two bonds<span class=\"_ _0\"></span> to floating obligations. The bonds </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs431\">and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st r<span class=\"_ _2\"></span>ate sw<span class=\"_ _2\"></span>aps hav<span class=\"_ _2\"></span>e been d<span class=\"_ _2\"></span>esig<span class=\"_ _2\"></span>nate<span class=\"_ _2\"></span>d as hed<span class=\"_ _2\"></span>ged i<span class=\"_ _2\"></span>tems a<span class=\"_ _2\"></span>nd </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs432\">hedging instr<span class=\"_ _2\"></span>uments respecti<span class=\"_ _2\"></span>vely i<span class=\"_ _0\"></span>n a fair value<span class=\"_ _0\"></span> hedge relationship </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls18 ws28 gs433\">(see no<span class=\"_ _2\"></span>te 17<span class=\"_ _3\"></span>.4<span class=\"_ _2\"></span>c).<span class=\"_ _314\"> </span></div><div class=\"gs434\"><table class=\"s w6f5 h271\" id=\"_819ffd83-d639-49bc-9768-4a4c0f0516fd\"><tr><td></td><td></td><td></td><td class=\"t m0 xb19 h13 y234d ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td></td></tr><tr><td></td><td class=\"t m0 xb1a h13 y234e ff75 fs6 fc1 sc0 ls26 ws3\">Qu<span class=\"_ _2\"></span>oted p<span class=\"_ _2\"></span>rice<span class=\"_ _2\"></span>s in </td><td class=\"t m0 x8a0 h13 y234e ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td class=\"t m0 xb1b h13 y234e ff75 fs6 fc1 sc0 ls27 ws45\">unobservable </td><td></td></tr><tr><td></td><td class=\"t m0 x425 h13 y234f ff75 fs6 fc1 sc0 ls26 ws3\">ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve marke<span class=\"_ _2\"></span>ts </td><td class=\"t m0 x818 h13 y234f ff75 fs6 fc1 sc0 ls27 ws43\">observable inputs </td><td class=\"t m0 x819 h13 y234f ff75 fs6 fc1 sc0 lse5 ws125\">inputs<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xb1c h13 y2350 ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xb1d h13 y2350 ff75 fs6 fc1 sc0 ls5f wsbe\">(Level 2)<span class=\"_ _314\"> </span></td><td class=\"c n xb1e y2351 w6f6 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb1f y2351 w464 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2352 w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xb20 y2352 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb21 y2352 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb22 y2352 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb23 y2352 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w664 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xb24 y214f w6f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">8<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>847<span class=\"_ _314\"> </span></div></td><td class=\"c n xb25 y214f w6f9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">75<span class=\"_ _314\"> </span></div></td><td class=\"c n xb26 y214f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb27 y214f w6fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb0 wsdb\">8,<span class=\"_ _2\"></span>922<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w667 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Commercial paper<span class=\"_ _314\"> </span></div></td><td class=\"c n xb28 y2069 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb29 y2069 w6fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">1,846<span class=\"_ _314\"> </span></div></td><td class=\"c n xb2a y2069 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb2b y2069 w6fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">1,846<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs435\">1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during the year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div><div class=\"gs436\"><table class=\"s w6fc h272\" id=\"_21f700d2-4af9-4a53-836a-d7d5f6e6f414\"><tr><td></td><td></td><td></td><td class=\"t m0 xb2c hb y2353 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td></td></tr><tr><td></td><td class=\"t m0 x76c hb y2354 ff76 fs6 fc1 sc0 ls26 ws3\">Qu<span class=\"_ _2\"></span>oted p<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>es in </td><td class=\"t m0 xb2d hb y2354 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td class=\"t m0 xb2e hb y2354 ff76 fs6 fc1 sc0 ls27 ws45\">unobser<span class=\"_ _2\"></span>vable </td><td></td></tr><tr><td></td><td class=\"t m0 x2d2 hb y2355 ff76 fs6 fc1 sc0 ls27 ws43\">act<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> markets </td><td class=\"t m0 xb2f hb y2355 ff76 fs6 fc1 sc0 ls27 ws43\">obser<span class=\"_ _2\"></span>vable inputs </td><td class=\"t m0 x819 hb y2355 ff76 fs6 fc1 sc0 ls12 ws81\">input<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xb30 hb y2356 ff76 fs6 fc1 sc0 lsf1 wscc\">(Le<span class=\"_ _0\"></span>vel<span class=\"_ _0\"></span> 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xb31 hb y2356 ff76 fs6 fc1 sc0 ls109 ws110\">(Lev<span class=\"_ _2\"></span>el 2)<span class=\"_ _314\"> </span></td><td class=\"c n xb32 y2357 w6fd h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb33 y2357 w6fe h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2358 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xb34 y2358 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb35 y2358 w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb36 y2358 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb37 y2358 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w664 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xb38 y22e4 w1c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xb39 y22e4 w93 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">78<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3a y22e4 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3b y22e4 w700 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>7<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2359 ff76 fs129 fc1 sc0 ls6c ws7e\">Commercial paper<span class=\"_ _314\"> </span></td><td class=\"c n xb3c y235a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3d y235a w701 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">1,040<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3e y235a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3f y235a w702 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">1,040<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs437\">1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during 202<span class=\"_ _0\"></span>4.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs438\">The carr<span class=\"_ _2\"></span>ying amounts of the Group<span class=\"_ _0\"></span>\u2019s borrowings, e<span class=\"_ _0\"></span>xcluding lease liabilities, are<span class=\"_ _0\"></span> denominated in the f<span class=\"_ _0\"></span>ollowing currencies:<span class=\"_ _314\"> </span></div><div class=\"gs439\"><table class=\"s w703 h273\" id=\"_e7424f0b-5e31-447f-9e51-3d818439571b\"><tr><td></td><td></td><td class=\"c n xb40 y235b w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td></td><td></td><td class=\"c n xb41 y235b w4f1 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c n x8a4 y235c w1d9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls4 ws3\">Drawn<span class=\"_ _314\"> </span></div></td><td class=\"c xb43 y235c w704 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls77 wsa0\">Swa<span class=\"_ _0\"></span>pped</div><div class=\"t m0 xb42 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xb44 y22cf w705 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls94 wsc1\">Ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>tive<span class=\"_ _314\"> </span></div></td><td class=\"c n xb45 y22cf w217 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls7f wsac\">Drawn<span class=\"_ _314\"> </span></div></td><td class=\"c xb47 y22cf w706 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsb6 wse5\">Swapped</div><div class=\"t m0 xb46 h199 y2120 ff76 fs12b fc1 sc0 ls4 ws3\">1</div></td><td class=\"t m0 xb48 hb y235d ff76 fs6 fc1 sc0 lsf1 ws5e\">Effective<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y22d1 w707 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">Currenc<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></div></td><td class=\"c n xb49 y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4a y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4b y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4c y22d1 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4d y22d1 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4e y22d1 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w708 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">Sterling<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4f y22d9 w33 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">1<span class=\"_ _2\"></span>,454<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fd y22d9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb50 y22d9 w33 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">1,<span class=\"_ _2\"></span>454<span class=\"_ _314\"> </span></div></td><td class=\"c n xb51 y22d9 w709 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">566<span class=\"_ _314\"> </span></div></td><td class=\"c n xb52 y22d9 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d1 y22d9 w709 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">566<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w70a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">Euro<span class=\"_ _314\"> </span></div></td><td class=\"c n xb53 y2297 w70b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">4,678<span class=\"_ _314\"> </span></div></td><td class=\"c n xb54 y2297 w70c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6e ws98\">(1,<span class=\"_ _2\"></span>277<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb55 y2297 w70d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsac wsd7\">3,401<span class=\"_ _314\"> </span></div></td><td class=\"c n xb56 y2297 w70e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">3<span class=\"_ _2\"></span>,968<span class=\"_ _314\"> </span></div></td><td class=\"c n xb57 y2297 w70f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>1,<span class=\"_ _2\"></span>376<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb58 y2297 w710 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">2,592<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w711 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">US dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xb59 y2288 w5e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">4,630<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5a y2288 w712 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6e ws98\">1,<span class=\"_ _2\"></span>277<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5b y2288 w713 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">5,9<span class=\"_ _2\"></span>07<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5c y2288 w714 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">4<span class=\"_ _2\"></span>,797<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5d y2288 w715 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>376<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5e y2288 w716 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">6,1<span class=\"_ _2\"></span>73<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w717 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other currencies<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5f y228f w718 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">329<span class=\"_ _314\"> </span></div></td><td class=\"c n xb60 y228f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb61 y228f w719 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">329<span class=\"_ _314\"> </span></div></td><td class=\"c n xb62 y228f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb63 y228f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb64 y228f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w6f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> excluding lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb65 y2069 w672 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">11<span class=\"_ _2\"></span>,091<span class=\"_ _314\"> </span></div></td><td class=\"c n xb66 y2069 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb67 y2069 w6f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">11<span class=\"_ _2\"></span>,091<span class=\"_ _314\"> </span></div></td><td class=\"c n xb68 y235e w11d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">9,3<span class=\"_ _2\"></span>31<span class=\"_ _314\"> </span></div></td><td class=\"c n xb69 y235e w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6a y235e w11d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">9,<span class=\"_ _2\"></span>331<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs43a\">1 <span class=\"_ _c\"> </span>Eu<span class=\"_ _2\"></span>ro bo<span class=\"_ _2\"></span>rro<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>gs ha<span class=\"_ _2\"></span>ve be<span class=\"_ _2\"></span>en sw<span class=\"_ _2\"></span>app<span class=\"_ _2\"></span>ed to U<span class=\"_ _2\"></span>S dol<span class=\"_ _2\"></span>lar b<span class=\"_ _2\"></span>orr<span class=\"_ _2\"></span>owi<span class=\"_ _2\"></span>ngs by e<span class=\"_ _2\"></span>nte<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g int<span class=\"_ _2\"></span>o cros<span class=\"_ _2\"></span>s-<span class=\"_ _2\"></span>cu<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>ncy i<span class=\"_ _2\"></span>nte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs43b\">In N<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ber 2025, t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up is<span class=\"_ _2\"></span>sued a \u20ac<span class=\"_ _2\"></span>50<span class=\"_ _2\"></span>0 milli<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs43c\">under the EMTN, maturing in November<span class=\"_ _0\"></span> 2031.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs43d\">Other Group facilities<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs43e\">In accordanc<span class=\"_ _0\"></span>e with the Commit<span class=\"_ _2\"></span>tee on Payments and Market<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls7 wsa gs43f\">Infras<span class=\"_ _2\"></span>truc<span class=\"_ _2\"></span>tures,<span class=\"_ _0\"></span> t<span class=\"_ _2\"></span>he<span class=\"_ _0\"></span> Internat<span class=\"_ _2\"></span>ional Organi<span class=\"_ _0\"></span>zation of Securit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> Commi<span class=\"_ _2\"></span>ssions </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs440\">and the Principles for<span class=\"_ _0\"></span> Financial Market<span class=\"_ _0\"></span> Infr<span class=\"_ _2\"></span>astruc<span class=\"_ _2\"></span>tures, man<span class=\"_ _0\"></span>y central </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs441\">banks allow C<span class=\"_ _0\"></span>CP<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to apply for ac<span class=\"_ _0\"></span>cess to certain central bank facilities. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs442\">In a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n, a num<span class=\"_ _2\"></span>ber of G<span class=\"_ _2\"></span>roup e<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es have a<span class=\"_ _2\"></span>ccess to u<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>mit<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs443\">operational, money market<span class=\"_ _0\"></span> and overdraft facilities which suppor<span class=\"_ _2\"></span>t post </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls5 ws5 gs444\">trade act<span class=\"_ _2\"></span>ivities and day-to-<span class=\"_ _2\"></span>day liquidity requirements. The Group<span class=\"_ _0\"></span> drew </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs445\">down against these facilities during the year and<span class=\"_ _0\"></span> these were fully </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs446\">rep<span class=\"_ _2\"></span>aid as a<span class=\"_ _2\"></span>t 31 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 2025.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls19 ws36 gs447\">Fair values<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs448\">Al<span class=\"_ _2\"></span>l the G<span class=\"_ _2\"></span>roup\u2019s bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s are reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed at a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed co<span class=\"_ _2\"></span>st o<span class=\"_ _2\"></span>n the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs449\">balance sheet, ex<span class=\"_ _0\"></span>cept where<span class=\"_ _0\"></span> the borrowing has been designated<span class=\"_ _0\"></span> as a </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs44a\">hedged item in a<span class=\"_ _0\"></span> fair value hedge r<span class=\"_ _0\"></span>elationship. In some cases, amort<span class=\"_ _2\"></span>ised </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs44b\">cos<span class=\"_ _2\"></span>t may d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>fer fr<span class=\"_ _2\"></span>om the<span class=\"_ _2\"></span>ir fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs44c\">The following tables<span class=\"_ _0\"></span> provide the fair value measur<span class=\"_ _0\"></span>ement hierarchy </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs44d\">(se<span class=\"_ _2\"></span>e def<span class=\"_ _2\"></span>ini<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n in note 1<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>) of the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s b<span class=\"_ _2\"></span>orrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, exclu<span class=\"_ _2\"></span>din<span class=\"_ _2\"></span>g </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs44e\">lease liabilities:<span class=\"_ _314\"> </span></div>16.<span class=\"_ _2\"></span>2 L<span class=\"_ _0\"></span>ease liabilities<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>roup le<span class=\"_ _2\"></span>ases as<span class=\"_ _2\"></span>sets fr<span class=\"_ _2\"></span>om oth<span class=\"_ _2\"></span>er par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ies (th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p is a lesse<span class=\"_ _2\"></span>e) and a<span class=\"_ _2\"></span>lso lea<span class=\"_ _2\"></span>ses asset<span class=\"_ _2\"></span>s to oth<span class=\"_ _2\"></span>er par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ies (t<span class=\"_ _2\"></span>he Grou<span class=\"_ _2\"></span>p is a less<span class=\"_ _2\"></span>or). This n<span class=\"_ _2\"></span>ote descr<span class=\"_ _2\"></span>ibes h<span class=\"_ _2\"></span>ow the G<span class=\"_ _2\"></span>roup ac<span class=\"_ _2\"></span>count<span class=\"_ _2\"></span>s for lea<span class=\"_ _2\"></span>ses and p<span class=\"_ _2\"></span>rovide<span class=\"_ _2\"></span>s details<span class=\"_ _0\"></span> about its lease arra<span class=\"_ _0\"></span>ngements.<span class=\"_ _314\"> </span>  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span>Group as lessee<span class=\"_ _314\"> </span>When the Group leases an<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> at the lease commencement date a r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sset i<span class=\"_ _2\"></span>s recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d for t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>sed i<span class=\"_ _2\"></span>tem (se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>0) a<span class=\"_ _2\"></span>nd a lea<span class=\"_ _2\"></span>se lia<span class=\"_ _2\"></span>bili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for a<span class=\"_ _2\"></span>ny lea<span class=\"_ _2\"></span>se pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to be p<span class=\"_ _2\"></span>aid ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ease te<span class=\"_ _2\"></span>rm.<span class=\"_ _314\"> </span>L<span class=\"_ _0\"></span>ease liabilities<span class=\"_ _314\"> </span>Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are recognised at<span class=\"_ _0\"></span> the net present value<span class=\"_ _0\"></span> of the rema<span class=\"_ _2\"></span>inin<span class=\"_ _2\"></span>g fu<span class=\"_ _2\"></span>ture pa<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nts t<span class=\"_ _2\"></span>o be mad<span class=\"_ _2\"></span>e over t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>se ter<span class=\"_ _2\"></span>m.<span class=\"_ _314\"> </span>The net pr<span class=\"_ _0\"></span>esent value is det<span class=\"_ _0\"></span>ermined using a discount<span class=\"_ _0\"></span> rate equivalent to the incremental<span class=\"_ _0\"></span> borrowing rate of the leasing<span class=\"_ _0\"></span> entit<span class=\"_ _2\"></span>y unless there<span class=\"_ _0\"></span> is a rate implicit within the lease<span class=\"_ _0\"></span> agreement<span class=\"_ _2\"></span>. Subsequentl<span class=\"_ _2\"></span>y<span class=\"_ _3\"></span>, the amount of lease liabilities is<span class=\"_ _0\"></span> increased to ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he acc<span class=\"_ _2\"></span>retio<span class=\"_ _2\"></span>n of inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t and red<span class=\"_ _2\"></span>uced fo<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ease<span class=\"_ _2\"></span> payments made.<span class=\"_ _314\"> </span>The Group leases<span class=\"_ _0\"></span> many proper<span class=\"_ _2\"></span>ties ar<span class=\"_ _0\"></span>ound the world and lease ter<span class=\"_ _2\"></span>ms var<span class=\"_ _2\"></span>y f<span class=\"_ _2\"></span>rom mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>ly up t<span class=\"_ _2\"></span>o 15 year<span class=\"_ _2\"></span>s. M<span class=\"_ _2\"></span>any of t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e leas<span class=\"_ _2\"></span>es contain option clauses t<span class=\"_ _0\"></span>o extend the lease or br<span class=\"_ _0\"></span>eak clauses to terminate<span class=\"_ _0\"></span> the lease. The lease t<span class=\"_ _0\"></span>erm recognised is the<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span>ca<span class=\"_ _2\"></span>ncell<span class=\"_ _2\"></span>able p<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>od of t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>se plu<span class=\"_ _2\"></span>s any pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>ds for w<span class=\"_ _2\"></span>hich t<span class=\"_ _2\"></span>he Group is r<span class=\"_ _0\"></span>easonably cer<span class=\"_ _2\"></span>tain of<span class=\"_ _0\"></span> exercising<span class=\"_ _0\"></span> any extension options. The Group values<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s right-of-<span class=\"_ _2\"></span>use assets and lease<span class=\"_ _0\"></span> liabilities based on its intentions at the balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> Any change in these intentions is<span class=\"_ _0\"></span> accounted<span class=\"_ _0\"></span> for as<span class=\"_ _0\"></span> a lease modification and the asse<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s and liabilities are<span class=\"_ _0\"></span> amended accordingly<span class=\"_ _0\"></span>. Any resulting effec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> on th<span class=\"_ _2\"></span>e net as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p woul<span class=\"_ _2\"></span>d not b<span class=\"_ _2\"></span>e signi<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ican<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span>V<span class=\"_ _0\"></span>ariable lease payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> based on an index<span class=\"_ _0\"></span> are estimated at the commencement dat<span class=\"_ _0\"></span>e and revalued<span class=\"_ _0\"></span> on an annual basis.<span class=\"_ _314\"> </span>Leas<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s du<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>hin 12 m<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>hs are c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s curr<span class=\"_ _2\"></span>ent liabilities. Payment<span class=\"_ _2\"></span>s due<span class=\"_ _0\"></span> af<span class=\"_ _2\"></span>ter 1<span class=\"_ _0\"></span>2 months are classified as non-<span class=\"_ _2\"></span>current liabilities.<span class=\"_ _314\"> </span>Sho<span class=\"_ _2\"></span>rt-<span class=\"_ _2\"></span>term l<span class=\"_ _2\"></span>eases an<span class=\"_ _2\"></span>d lease<span class=\"_ _2\"></span>s of low val<span class=\"_ _2\"></span>ue asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Ren<span class=\"_ _2\"></span>tal co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s for le<span class=\"_ _2\"></span>ased a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>hat are fo<span class=\"_ _2\"></span>r les<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>n 12 mon<span class=\"_ _2\"></span>ths or ar<span class=\"_ _2\"></span>e for ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>h an in<span class=\"_ _2\"></span>div<span class=\"_ _2\"></span>idu<span class=\"_ _2\"></span>al val<span class=\"_ _2\"></span>ue of le<span class=\"_ _2\"></span>ss th<span class=\"_ _2\"></span>an \u00a35<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 are recognised directly in the income statement on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line bas<span class=\"_ _2\"></span>is over t<span class=\"_ _2\"></span>he li<span class=\"_ _2\"></span>fe of th<span class=\"_ _2\"></span>e leas<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span>Group as lessor<span class=\"_ _314\"> </span>Finance leases<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let<span class=\"_ _2\"></span>s a prop<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>t for sub<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ant<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y all t<span class=\"_ _2\"></span>he use<span class=\"_ _2\"></span>ful li<span class=\"_ _2\"></span>fe of th<span class=\"_ _2\"></span>at ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, thi<span class=\"_ _2\"></span>s is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed as a finance lease. On<span class=\"_ _0\"></span> commencement of a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> sub<span class=\"_ _2\"></span>-lease, the pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y ri<span class=\"_ _2\"></span>ght-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _2\"></span>se ass<span class=\"_ _2\"></span>et is t<span class=\"_ _2\"></span>reated a<span class=\"_ _2\"></span>s dis<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d of and a n<span class=\"_ _2\"></span>et investment in lease, equivalent to<span class=\"_ _0\"></span> the net present value<span class=\"_ _0\"></span> of the fu<span class=\"_ _2\"></span>ture re<span class=\"_ _2\"></span>nt rece<span class=\"_ _2\"></span>ipt<span class=\"_ _2\"></span>s, is re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as a rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble on t<span class=\"_ _2\"></span>he ba<span class=\"_ _2\"></span>lance<span class=\"_ _2\"></span> she<span class=\"_ _2\"></span>et (se<span class=\"_ _2\"></span>e note 13<span class=\"_ _2\"></span>). Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>e val<span class=\"_ _2\"></span>ue of th<span class=\"_ _2\"></span>e recei<span class=\"_ _2\"></span>pt<span class=\"_ _2\"></span>s from t<span class=\"_ _2\"></span>he sub-<span class=\"_ _2\"></span>lease is<span class=\"_ _0\"></span> lower than the amount payable on<span class=\"_ _0\"></span> the head-<span class=\"_ _2\"></span>lease, we rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>se a los<span class=\"_ _2\"></span>s on di<span class=\"_ _2\"></span>spos<span class=\"_ _2\"></span>al of t<span class=\"_ _2\"></span>he rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-us<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et in th<span class=\"_ _2\"></span>e income statement<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>Ope<span class=\"_ _2\"></span>rating leases<span class=\"_ _314\"> </span>A ri<span class=\"_ _2\"></span>ght-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _2\"></span>se ass<span class=\"_ _2\"></span>et tha<span class=\"_ _2\"></span>t is sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let fo<span class=\"_ _2\"></span>r les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d usef<span class=\"_ _2\"></span>ul li<span class=\"_ _2\"></span>fe is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed as a<span class=\"_ _2\"></span>n oper<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng lea<span class=\"_ _2\"></span>se and r<span class=\"_ _2\"></span>enta<span class=\"_ _2\"></span>l inco<span class=\"_ _2\"></span>me is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed as re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>ved in ot<span class=\"_ _2\"></span>her i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e. We cont<span class=\"_ _2\"></span>inue t<span class=\"_ _2\"></span>o recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span> the proper<span class=\"_ _2\"></span>ty right-<span class=\"_ _2\"></span>of-use asset on<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span><table class=\"s w339 h275\" id=\"_7e0cf26f-556b-4b91-87ff-694ef5a48da8\"><tr><td></td><td></td><td class=\"t m0 xb80 hb y2362 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _81\"> </span><span class=\"ff76 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></span></td></tr><tr><td></td><td class=\"c n x4ec y2291 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y2291 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w727 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current lease<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb81 y2288 w225 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">502<span class=\"_ _314\"> </span></div></td><td class=\"c n xb82 y2288 w4f7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">494<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w728 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Current lease<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb83 y228f w729 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">125<span class=\"_ _314\"> </span></div></td><td class=\"c n xa19 y228f w66b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">140<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w72a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal lease<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb84 y2069 wa8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">627<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xb7f h193 y2363 ff76 fs129 fc1 sc0 ls8 ws5\">634<span class=\"_ _314\"> </span></td></tr></table>Movements in lease liabilities during the y<span class=\"_ _0\"></span>ear are as<span class=\"_ _0\"></span> follows:<span class=\"_ _314\"> </span><table class=\"s w71a h274\" id=\"_e943338e-c71e-4da5-b079-44a41bca6625\"><tr><td></td><td></td><td class=\"c n x4e9 y235f w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y235f w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5e0 y2360 w33 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e1 y2360 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e2 y2360 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234a w342 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5fa y234a w18e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">634<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6b y234a w71b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsab wsd4\">636<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d6 w71c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Leases<span class=\"_ _0\"></span> terminated early<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb6c y22d6 w680 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6d y22d6 w40d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234b w71d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">New lease<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6e y234b w3bb h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6f y234b wf6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">114<span class=\"_ _314\"> </span></div></td><td class=\"c n xb70 y234b w71e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">81<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a3 w535 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Lease<span class=\"_ _0\"></span> modif<span class=\"_ _2\"></span>ications<span class=\"_ _314\"> </span></div></td><td class=\"c n xb71 y22a3 wb8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n xb72 y22a3 w1a8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">59<span class=\"_ _314\"> </span></div></td><td class=\"c n xb73 y22a3 w187 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsab wsd4\">72<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w71f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease int<span class=\"_ _0\"></span>erest expense<span class=\"_ _314\"> </span></div></td><td class=\"c n xb74 y22d9 w44 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">5.1<span class=\"_ _314\"> </span></div></td><td class=\"c n xb75 y22d9 w720 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n xb76 y22d9 w14a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">20<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w721 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease payments \u2013 principal<span class=\"_ _314\"> </span></div></td><td class=\"c n xb77 y2297 w1df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>6.4<span class=\"_ _314\"> </span></div></td><td class=\"c n xb78 y2297 w722 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">(1<span class=\"_ _2\"></span>61)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb79 y2297 w723 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(156)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w724 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Lea<span class=\"_ _2\"></span>se pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts \u2013 i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb7a y2288 w136 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb7b y2288 w725 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(20<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w349 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb7c y228f w54a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>8)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb7d y228f w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb7e y2069 w726 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">627<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xb7f h193 y2361 ff76 fs129 fc1 sc0 ls8 ws5\">634<span class=\"_ _314\"> </span></td></tr></table>The maturit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> of the Group\u2019<span class=\"_ _0\"></span>s lease commitments is disclosed within the risk management not<span class=\"_ _0\"></span>e (see note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.5). The pot<span class=\"_ _0\"></span>ential future lease payment<span class=\"_ _2\"></span>s, should<span class=\"_ _0\"></span> the Group exer<span class=\"_ _0\"></span>cise extension and termination options, would result in<span class=\"_ _0\"></span> an increase in<span class=\"_ _0\"></span> right-<span class=\"_ _2\"></span>of-use assets and lease liabilities of up t<span class=\"_ _0\"></span>o \u00a3272 million.<span class=\"_ _314\"> </span>The w<span class=\"_ _2\"></span>eigh<span class=\"_ _2\"></span>ted ave<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>e disco<span class=\"_ _2\"></span>unt r<span class=\"_ _2\"></span>ate use<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p for le<span class=\"_ _2\"></span>ase lia<span class=\"_ _2\"></span>bili<span class=\"_ _2\"></span>tie<span class=\"_ _2\"></span>s was 3<span class=\"_ _2\"></span>.5% (2024: 3.<span class=\"_ _2\"></span>3%)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>A limited number<span class=\"_ _0\"></span> of the Group\u2019<span class=\"_ _0\"></span>s leases ar<span class=\"_ _0\"></span>e subject to variable lease payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> linked to<span class=\"_ _0\"></span> publicly available indexes. A<span class=\"_ _0\"></span>djus<span class=\"_ _2\"></span>tments to the value of the lease<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> and associated assets are made<span class=\"_ _0\"></span> annually,<span class=\"_ _0\"></span> but do not h<span class=\"_ _2\"></span>ave a mate<span class=\"_ _2\"></span>rial i<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>n the G<span class=\"_ _2\"></span>roup\u2019s net a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls22 ws3 gs465\">16<span class=\"_ _2\"></span>.3 N<span class=\"_ _2\"></span>et deb<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs466\">Net debt (<span class=\"_ _0\"></span>as described in the Alternative Performance Measures section of this report) comprises cash and cash equivalents less lease liabilities </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs467\">and borrowings, adjusted for<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vative financial instrum<span class=\"_ _2\"></span>ents.<span class=\"_ _314\"> </span></div><div class=\"gs3eb\"><table class=\"s w72b h276\" id=\"_4ecd5568-1629-4e3c-9eb2-4c701c13c37f\"><tr><td></td><td></td><td class=\"c n x759 y2364 w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x75a y2364 w270 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xb85 y2365 w33 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xb86 y2365 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb87 y2365 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2366 ff75 fs129 fc1 sc0 lsad wsdc\">Non<span class=\"_ _2\"></span>-current<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2367 w72c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Bank borrowings<span class=\"_ _314\"> </span></div></td><td class=\"c n xb88 y2367 w72d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa3 ws61\">1<span class=\"_ _2\"></span>6.1<span class=\"_ _314\"> </span></div></td><td class=\"c n xb89 y2367 w55 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xb8a y2367 w5b9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2345 w664 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xb8b y2345 w72e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa3 ws61\">1<span class=\"_ _2\"></span>6.1</div></td><td class=\"c n xb8c y2345 w72f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _1\"></span>7,<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>)</div></td><td class=\"c n xb8d y2345 w113 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsae wsd8\">(<span class=\"_ _1\"></span>7,<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>8<span class=\"_ _1\"></span>5<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2346 w666 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td class=\"c n xb8e y2346 w730 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsab ws118\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n xb8f y2346 w731 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">(5<span class=\"_ _2\"></span>02)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb90 y2346 w732 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>94)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2368 w733 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Derivat<span class=\"_ _2\"></span>ive financial assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xb91 y2368 w734 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xb92 y2368 wb1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">112<span class=\"_ _314\"> </span></div></td><td class=\"c n xb93 y2368 wc1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8 ws5\">63<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2348 w735 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb94 y2348 wf1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _1\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xb95 y2348 w267 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb96 y2348 w736 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">(63<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xb97 y2349 w737 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">(8,<span class=\"_ _2\"></span>291)</div></td><td class=\"c n xb98 y2349 w738 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsac wsd7\">(8,373)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2369 ff75 fs129 fc1 sc0 ls76 ws9f\">Current<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22d6 wdb h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xb99 y22d6 wdc h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">14</div></td><td class=\"c n xb9a y22d6 w86 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">3,94<span class=\"_ _0\"></span>9</div></td><td class=\"c n xb9b y22d6 w739 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb0 wsdb\">3<span class=\"_ _2\"></span>,47<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234b w667 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Commercial paper<span class=\"_ _314\"> </span></div></td><td class=\"c n xb9c y234b w73a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa3 ws61\">16<span class=\"_ _2\"></span>.1</div></td><td class=\"c n xb9d y234b w73b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa3 wsce\">(<span class=\"_ _2\"></span>1,<span class=\"_ _2\"></span>841<span class=\"_ _2\"></span>)</div></td><td class=\"c n xb9e y234b w73c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">(<span class=\"_ _2\"></span>1,037<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a3 w664 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xb8b y22a3 w72e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa3 ws61\">1<span class=\"_ _2\"></span>6.1</div></td><td class=\"c n x26f y22a3 w73d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">(1,<span class=\"_ _2\"></span>359)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb9f y22a3 w73e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">(415<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w666 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td class=\"c n xb8e y22d9 w730 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsab ws118\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n xba0 y22d9 w167 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">(125)<span class=\"_ _314\"> </span></div></td><td class=\"c n xba1 y22d9 w73f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">(140)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22eb w733 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Derivat<span class=\"_ _2\"></span>ive financial assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xb91 y22eb w734 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xba2 y22eb wd6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls88 wsb4\">84<span class=\"_ _314\"> </span></div></td><td class=\"c n xba3 y22eb wd7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w735 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb94 y2288 wf1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _1\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xba4 y2288 w191 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">(15)<span class=\"_ _314\"> </span></div></td><td class=\"c n xba5 y2288 w409 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">(14)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n xba6 y228f w427 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">693<span class=\"_ _314\"> </span></div></td><td class=\"c n xba7 y228f w740 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">1<span class=\"_ _2\"></span>,919<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w741 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">Net debt<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x291 y2069 w742 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _1\"></span>7,<span class=\"_ _2\"></span>5<span class=\"_ _2\"></span>9<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>)</div></td><td class=\"t m0 x879 h193 y236a ff76 fs129 fc1 sc0 ls6e ws98\">(6,45<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls2 ws2 gs469\">16.4 Liabilities from financing activities<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs46a\">Movement in the Group<span class=\"_ _0\"></span>\u2019s<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> arising from financing ac<span class=\"_ _2\"></span>tivit<span class=\"_ _2\"></span>ies:<span class=\"_ _314\"> </span></div><div class=\"gs46b\"><table class=\"s w743 h277\" id=\"_0104c760-f330-4913-822d-8c77c605e3d6\"><tr><td></td><td class=\"t m0 xba8 h13 y236b ff75 fs6 fc1 sc0 ls4 ws3\">Bank </td><td></td><td class=\"t m0 x55e h13 y236b ff75 fs6 fc1 sc0 ls27 ws45\">Commercial </td><td class=\"t m0 xba9 h13 y236b ff75 fs6 fc1 sc0 lse5 ws75\">T<span class=\"_ _0\"></span>rade finance </td><td class=\"t m0 xbaa h13 y236b ff75 fs6 fc1 sc0 ls4 ws3\">Lease </td><td class=\"t m0 x25c h13 y236b ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span> </td></tr><tr><td></td><td class=\"c n xbab y236c w744 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws45\">borrowings<span class=\"_ _314\"> </span></div></td><td class=\"c n xbac y236c w745 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws45\">Bonds<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x2cd h13 y236d ff75 fs6 fc1 sc0 ls110 ws183\">paper<span class=\"_ _314\"> </span></td><td class=\"t m0 xbad h13 y236d ff75 fs6 fc1 sc0 ls110 ws183\">loans<span class=\"_ _314\"> </span></td><td class=\"t m0 xbae h13 y236d ff75 fs6 fc1 sc0 lse5 ws125\">liabilities<span class=\"_ _314\"> </span></td><td class=\"t m0 xbaf h13 y236d ff75 fs6 fc1 sc0 ls27 ws45\">borrowings<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"c n x7a6 y236e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xbb0 y236e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xbb1 y236e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xbb2 y236e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xbb3 y236e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xbb4 y236e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2185 w12c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n xbb5 y2185 w9d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">9<span class=\"_ _314\"> </span></div></td><td class=\"c n xbb6 y2185 w746 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _1\"></span>8<span class=\"_ _1\"></span>4<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xbb7 y2185 w747 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">1<span class=\"_ _2\"></span>,20<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xbb8 y2185 w748 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xbb9 y2185 w71b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">636<span class=\"_ _314\"> </span></div></td><td class=\"c n xbba y2185 w749 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">9,69<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y236f w74a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s fro<span class=\"_ _2\"></span>m fi<span class=\"_ _2\"></span>nanc<span class=\"_ _2\"></span>ing ac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td class=\"c n xbbb y236f w3a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">(17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbbc y236f w74b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">572<span class=\"_ _314\"> </span></div></td><td class=\"c n xbbd y236f w74c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(164)<span class=\"_ _314\"> </span></div></td><td class=\"c n x82e y236f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbbe y236f w74d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(15<span class=\"_ _2\"></span>6)<span class=\"_ _314\"> </span></div></td><td class=\"c n x579 y236f w49e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">235<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w1bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Interest paid<span class=\"_ _314\"> </span></div></td><td class=\"c n x366 y2187 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbbf y2187 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbc0 y2187 w74e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>72)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbc1 y2187 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbc2 y2187 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbc3 y2187 w3ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(7<span class=\"_ _2\"></span>2)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2188 w74f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Arrangement fees paid<span class=\"_ _314\"> </span></div></td><td class=\"c n x35f y2188 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbc4 y2188 w750 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbc5 y2188 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbc6 y2188 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbc7 y2188 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbc8 y2188 w159 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(11)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21b5 w751 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other movements</div><div class=\"t m0 xa28 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xbc9 y21b5 w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xbca y21b5 w752 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">(27<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbcb y21b5 w401 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">70<span class=\"_ _314\"> </span></div></td><td class=\"c n xbcc y21b5 w40d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbcd y21b5 w753 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">1<span class=\"_ _2\"></span>52<span class=\"_ _314\"> </span></div></td><td class=\"c n xbce y21b5 w754 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls88 wsb4\">196<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218b w1fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n xbcf y218b w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbd0 y218b w755 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(81)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbd1 y218b w474 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbd2 y218b w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbd3 y218b w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xbd4 y218b w756 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(82)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218c w15d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n xbd5 y218c w663 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(6)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbd6 y218c w757 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">8,300<span class=\"_ _314\"> </span></div></td><td class=\"c n xbd7 y218c w758 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">1<span class=\"_ _2\"></span>,037<span class=\"_ _314\"> </span></div></td><td class=\"c n xbd8 y218c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbd9 y218c w759 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8 ws5\">634<span class=\"_ _314\"> </span></div></td><td class=\"c n xbda y218c w70b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">9,965<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b6 w74a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s fro<span class=\"_ _2\"></span>m fi<span class=\"_ _2\"></span>nanc<span class=\"_ _2\"></span>ing ac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td class=\"c n xbdb y21b6 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbdc y21b6 w4d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>,079<span class=\"_ _314\"> </span></div></td><td class=\"c n xbdd y21b6 w511 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d ws97\">796<span class=\"_ _314\"> </span></div></td><td class=\"c n x82e y21b6 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbde y21b6 w722 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">(1<span class=\"_ _2\"></span>61)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbdf y21b6 w75a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,71<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213c w1bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Interest paid<span class=\"_ _314\"> </span></div></td><td class=\"c n x366 y213c w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbbf y213c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe0 y213c w1e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls91 wsbf\">(48<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe1 y213c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe2 y213c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe3 y213c w1e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls91 wsbf\">(48<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w74f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Arrangement fees paid<span class=\"_ _314\"> </span></div></td><td class=\"c n x35f y213d w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe4 y213d wa0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe5 y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe6 y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe7 y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe8 y213d wa0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y20d9 w751 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other movements</div><div class=\"t m0 xa28 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xbc9 y2075 wa5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe9 y2075 w3ef h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(8)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbea y2075 wd6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls88 wsb4\">48<span class=\"_ _314\"> </span></div></td><td class=\"c n xbeb y2075 w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbec y2075 w2a5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">17<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xbed y2075 w4a3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">217<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w1fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td class=\"c n xbee y20da w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbef y20da w48a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(11<span class=\"_ _2\"></span>9)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbf0 y20da w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xbf1 y20da w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbf2 y20da w549 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(18)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbf3 y20da w75b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">(129)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xbf4 y2069 wa0 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n xbf5 y2069 w6f1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb5 wse3\">9<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>251<span class=\"_ _314\"> </span></div></td><td class=\"c n xbf6 y2069 w685 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>,8<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n xbf7 y2069 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xbf8 y2069 w726 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">627<span class=\"_ _314\"> </span></div></td><td class=\"c n xbf9 y2069 w75c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>1,71<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs46c\">1 <span class=\"_ _c\"> </span>Other movements include non-cash movements relating to<span class=\"_ _0\"></span>:</div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls4 ws3 gs46d\"> <span class=\"_ _22e\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"lsb\">Am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sat<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f comm<span class=\"_ _2\"></span>erc<span class=\"_ _2\"></span>ial p<span class=\"_ _2\"></span>ape<span class=\"_ _2\"></span>r inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t of \u00a34<span class=\"_ _2\"></span>8 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (2024: \u00a3<span class=\"_ _2\"></span>70 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n), am<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sat<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f arr<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nt fe<span class=\"_ _2\"></span>es of \u00a3<span class=\"_ _2\"></span>10 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on (2<span class=\"_ _2\"></span>02<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>9 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n) an<span class=\"_ _2\"></span>d bon<span class=\"_ _2\"></span>d fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue ad<span class=\"_ _2\"></span>jus<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent o<span class=\"_ _2\"></span>f \u00a35 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs46e\">(20<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4: n<span class=\"_ _2\"></span>il)<span class=\"_ _2\"></span>, whi<span class=\"_ _2\"></span>ch in<span class=\"_ _2\"></span>crea<span class=\"_ _2\"></span>se t<span class=\"_ _2\"></span>he ca<span class=\"_ _2\"></span>rr<span class=\"_ _2\"></span>y va<span class=\"_ _2\"></span>lue of b<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>.</div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls4 ws3 gs46f\"> <span class=\"_ _22e\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"lsb\">Bon<span class=\"_ _2\"></span>d fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue ad<span class=\"_ _2\"></span>jus<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent o<span class=\"_ _2\"></span>f nil (<span class=\"_ _2\"></span>2024: \u00a31<span class=\"_ _2\"></span>1 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n) and d<span class=\"_ _2\"></span>isc<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t on pa<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ial r<span class=\"_ _2\"></span>epu<span class=\"_ _2\"></span>rcha<span class=\"_ _2\"></span>se of b<span class=\"_ _2\"></span>ond o<span class=\"_ _2\"></span>f \u00a32<span class=\"_ _2\"></span>3 mil<span class=\"_ _2\"></span>lion (<span class=\"_ _2\"></span>2024: \u00a3<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on)<span class=\"_ _2\"></span>, whi<span class=\"_ _2\"></span>ch de<span class=\"_ _2\"></span>crea<span class=\"_ _2\"></span>se t<span class=\"_ _2\"></span>he ca<span class=\"_ _2\"></span>rr<span class=\"_ _2\"></span>yi<span class=\"_ _2\"></span>ng va<span class=\"_ _2\"></span>lue o<span class=\"_ _2\"></span>f bor<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s.</span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls4 ws3 gs470\"> <span class=\"_ _22e\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls7 ws48\">Movements in<span class=\"_ _0\"></span> lease liabilities (see not<span class=\"_ _0\"></span>e 16.2).</span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-573": {
   "value": "The Group<span class=\"_ _3\"></span>\u2019s sourc<span class=\"_ _0\"></span>es of borro<span class=\"_ _0\"></span>wing for funding<span class=\"_ _0\"></span> and liquidity purposes<span class=\"_ _314\"> </span>inc<span class=\"_ _2\"></span>lude a ra<span class=\"_ _2\"></span>nge of com<span class=\"_ _2\"></span>mit<span class=\"_ _2\"></span>ted ba<span class=\"_ _2\"></span>nk faci<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies and l<span class=\"_ _2\"></span>ong-<span class=\"_ _2\"></span>term a<span class=\"_ _2\"></span>nd<span class=\"_ _314\"> </span>short-term issuanc<span class=\"_ _0\"></span>es in the c<span class=\"_ _0\"></span>apital marke<span class=\"_ _0\"></span>ts including comm<span class=\"_ _0\"></span>ercial paper<span class=\"_ _314\"> </span>and b<span class=\"_ _2\"></span>onds<span class=\"_ _2\"></span>. Liabi<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies ari<span class=\"_ _2\"></span>sing fr<span class=\"_ _2\"></span>om the G<span class=\"_ _2\"></span>roup\u2019s lease a<span class=\"_ _2\"></span>rrang<span class=\"_ _2\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>are al<span class=\"_ _2\"></span>so repo<span class=\"_ _2\"></span>rte<span class=\"_ _2\"></span>d in bor<span class=\"_ _2\"></span>rowin<span class=\"_ _2\"></span>gs. N<span class=\"_ _2\"></span>et debt c<span class=\"_ _2\"></span>ompri<span class=\"_ _2\"></span>ses cash a<span class=\"_ _2\"></span>nd cash<span class=\"_ _314\"> </span>equ<span class=\"_ _2\"></span>ival<span class=\"_ _2\"></span>ents le<span class=\"_ _2\"></span>ss lea<span class=\"_ _2\"></span>se liab<span class=\"_ _2\"></span>ilit<span class=\"_ _2\"></span>ies and b<span class=\"_ _2\"></span>orrow<span class=\"_ _2\"></span>ings<span class=\"_ _2\"></span>, adj<span class=\"_ _2\"></span>usted fo<span class=\"_ _2\"></span>r deri<span class=\"_ _2\"></span>vat<span class=\"_ _2\"></span>ive<span class=\"_ _314\"> </span>fina<span class=\"_ _2\"></span>ncial in<span class=\"_ _0\"></span>st<span class=\"_ _2\"></span>ruments.<span class=\"_ _314\"> </span>2025<span class=\"_ _314\"> </span>20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span>Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>Non<span class=\"_ _2\"></span>-current<span class=\"_ _1dc\"> </span><span class=\"ls4 ws3\"> <span class=\"_ _45\"> </span></span>Bank borrowings<span class=\"_ _0\"></span> \u2013 committed<span class=\"_ _314\"> </span>bank facilities1<span class=\"_ _314\"> </span>(1)<span class=\"_ _314\"> </span><span class=\"ff76 ls7b wse0\">(6<span class=\"_ _314\"> </span></span>Bonds<span class=\"_ _314\"> </span>7,<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span>7,<span class=\"_ _2\"></span>8<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span>Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span>5<span class=\"_ _2\"></span>02<span class=\"_ _314\"> </span>49<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span>8,<span class=\"_ _2\"></span>393<span class=\"_ _314\"> </span>8,<span class=\"_ _2\"></span>373<span class=\"_ _314\"> </span>Current<span class=\"_ _2a5\"> </span><span class=\"ls4 ws3\"> <span class=\"_ _d2\"> </span></span>Commercial paper<span class=\"_ _314\"> </span>1,<span class=\"_ _2\"></span>841<span class=\"_ _314\"> </span>1,037<span class=\"_ _314\"> </span>Bonds<span class=\"_ _314\"> </span>1,<span class=\"_ _2\"></span>359<span class=\"_ _314\"> </span>415<span class=\"_ _314\"> </span>Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span>125<span class=\"_ _314\"> </span>140<span class=\"_ _314\"> </span>3,<span class=\"_ _2\"></span>325<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>,592<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> and lease liabilities<span class=\"_ _314\"> </span>11,7<span class=\"_ _2\"></span>18<span class=\"_ _314\"> </span>9,9<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> borrowings ex<span class=\"_ _0\"></span>cluding<span class=\"_ _314\"> </span>lease liabilities<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span>11,09<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span>9,<span class=\"_ _2\"></span>331<span class=\"_ _314\"> </span>Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span>16.2<span class=\"_ _314\"> </span>627<span class=\"_ _314\"> </span>634<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> and lease liabilities<span class=\"_ _314\"> </span>11,7<span class=\"_ _2\"></span>189,965<span class=\"_ _314\"> </span>1 <span class=\"_ _c\"> </span>Balances are<span class=\"_ _0\"></span> shown net<span class=\"_ _0\"></span> of capitalised arrangement fees. Where<span class=\"_ _0\"></span> there are<span class=\"_ _0\"></span> no amounts<span class=\"_ _314\"> </span>borrowed on<span class=\"_ _0\"></span> a particular facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, this gives<span class=\"_ _0\"></span> rise to a<span class=\"_ _0\"></span> negative balance.<span class=\"_ _314\"> </span>16<span class=\"_ _2\"></span>. Borrowings, lease<span class=\"_ _2\"></span> liabilities and net debt<span class=\"_ _314\"> </span>16.<span class=\"_ _2\"></span>2 L<span class=\"_ _0\"></span>ease liabilities<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>roup le<span class=\"_ _2\"></span>ases as<span class=\"_ _2\"></span>sets fr<span class=\"_ _2\"></span>om oth<span class=\"_ _2\"></span>er par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ies (th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p is a lesse<span class=\"_ _2\"></span>e) and a<span class=\"_ _2\"></span>lso lea<span class=\"_ _2\"></span>ses asset<span class=\"_ _2\"></span>s to oth<span class=\"_ _2\"></span>er par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ies (t<span class=\"_ _2\"></span>he Grou<span class=\"_ _2\"></span>p is a less<span class=\"_ _2\"></span>or). This n<span class=\"_ _2\"></span>ote descr<span class=\"_ _2\"></span>ibes h<span class=\"_ _2\"></span>ow the G<span class=\"_ _2\"></span>roup ac<span class=\"_ _2\"></span>count<span class=\"_ _2\"></span>s for lea<span class=\"_ _2\"></span>ses and p<span class=\"_ _2\"></span>rovide<span class=\"_ _2\"></span>s details<span class=\"_ _0\"></span> about its lease arra<span class=\"_ _0\"></span>ngements.<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>Group as lessee<span class=\"_ _314\"> </span>When the Group leases an<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> at the lease commencement date a r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sset i<span class=\"_ _2\"></span>s recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d for t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>sed i<span class=\"_ _2\"></span>tem (se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>0) a<span class=\"_ _2\"></span>nd a lea<span class=\"_ _2\"></span>se lia<span class=\"_ _2\"></span>bili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for a<span class=\"_ _2\"></span>ny lea<span class=\"_ _2\"></span>se pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to be p<span class=\"_ _2\"></span>aid ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ease te<span class=\"_ _2\"></span>rm.<span class=\"_ _314\"> </span>L<span class=\"_ _0\"></span>ease liabilities<span class=\"_ _314\"> </span>Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are recognised at<span class=\"_ _0\"></span> the net present value<span class=\"_ _0\"></span> of the rema<span class=\"_ _2\"></span>inin<span class=\"_ _2\"></span>g fu<span class=\"_ _2\"></span>ture pa<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nts t<span class=\"_ _2\"></span>o be mad<span class=\"_ _2\"></span>e over t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>se ter<span class=\"_ _2\"></span>m.<span class=\"_ _314\"> </span>The net pr<span class=\"_ _0\"></span>esent value is det<span class=\"_ _0\"></span>ermined using a discount<span class=\"_ _0\"></span> rate equivalent to the incremental<span class=\"_ _0\"></span> borrowing rate of the leasing<span class=\"_ _0\"></span> entit<span class=\"_ _2\"></span>y unless there<span class=\"_ _0\"></span> is a rate implicit within the lease<span class=\"_ _0\"></span> agreement<span class=\"_ _2\"></span>. Subsequentl<span class=\"_ _2\"></span>y<span class=\"_ _3\"></span>, the amount of lease liabilities is<span class=\"_ _0\"></span> increased to ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he acc<span class=\"_ _2\"></span>retio<span class=\"_ _2\"></span>n of inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t and red<span class=\"_ _2\"></span>uced fo<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ease<span class=\"_ _2\"></span> payments made.<span class=\"_ _314\"> </span>The Group leases<span class=\"_ _0\"></span> many proper<span class=\"_ _2\"></span>ties ar<span class=\"_ _0\"></span>ound the world and lease ter<span class=\"_ _2\"></span>ms var<span class=\"_ _2\"></span>y f<span class=\"_ _2\"></span>rom mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>ly up t<span class=\"_ _2\"></span>o 15 year<span class=\"_ _2\"></span>s. M<span class=\"_ _2\"></span>any of t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e leas<span class=\"_ _2\"></span>es contain option clauses t<span class=\"_ _0\"></span>o extend the lease or br<span class=\"_ _0\"></span>eak clauses to terminate<span class=\"_ _0\"></span> the lease. The lease t<span class=\"_ _0\"></span>erm recognised is the<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span>ca<span class=\"_ _2\"></span>ncell<span class=\"_ _2\"></span>able p<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>od of t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>se plu<span class=\"_ _2\"></span>s any pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>ds for w<span class=\"_ _2\"></span>hich t<span class=\"_ _2\"></span>he Group is r<span class=\"_ _0\"></span>easonably cer<span class=\"_ _2\"></span>tain of<span class=\"_ _0\"></span> exercising<span class=\"_ _0\"></span> any extension options. The Group values<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s right-of-<span class=\"_ _2\"></span>use assets and lease<span class=\"_ _0\"></span> liabilities based on its intentions at the balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> Any change in these intentions is<span class=\"_ _0\"></span> accounted<span class=\"_ _0\"></span> for as<span class=\"_ _0\"></span> a lease modification and the asse<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s and liabilities are<span class=\"_ _0\"></span> amended accordingly<span class=\"_ _0\"></span>. Any resulting effec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> on th<span class=\"_ _2\"></span>e net as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p woul<span class=\"_ _2\"></span>d not b<span class=\"_ _2\"></span>e signi<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ican<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span>V<span class=\"_ _0\"></span>ariable lease payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> based on an index<span class=\"_ _0\"></span> are estimated at the commencement dat<span class=\"_ _0\"></span>e and revalued<span class=\"_ _0\"></span> on an annual basis.<span class=\"_ _314\"> </span>Leas<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s du<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>hin 12 m<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>hs are c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s curr<span class=\"_ _2\"></span>ent liabilities. Payment<span class=\"_ _2\"></span>s due<span class=\"_ _0\"></span> af<span class=\"_ _2\"></span>ter 1<span class=\"_ _0\"></span>2 months are classified as non-<span class=\"_ _2\"></span>current liabilities.<span class=\"_ _314\"> </span>Sho<span class=\"_ _2\"></span>rt-<span class=\"_ _2\"></span>term l<span class=\"_ _2\"></span>eases an<span class=\"_ _2\"></span>d lease<span class=\"_ _2\"></span>s of low val<span class=\"_ _2\"></span>ue asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Ren<span class=\"_ _2\"></span>tal co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s for le<span class=\"_ _2\"></span>ased a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>hat are fo<span class=\"_ _2\"></span>r les<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>n 12 mon<span class=\"_ _2\"></span>ths or ar<span class=\"_ _2\"></span>e for ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>h an in<span class=\"_ _2\"></span>div<span class=\"_ _2\"></span>idu<span class=\"_ _2\"></span>al val<span class=\"_ _2\"></span>ue of le<span class=\"_ _2\"></span>ss th<span class=\"_ _2\"></span>an \u00a35<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 are recognised directly in the income statement on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line bas<span class=\"_ _2\"></span>is over t<span class=\"_ _2\"></span>he li<span class=\"_ _2\"></span>fe of th<span class=\"_ _2\"></span>e leas<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span>Group as lessor<span class=\"_ _314\"> </span>Finance leases<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let<span class=\"_ _2\"></span>s a prop<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>t for sub<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ant<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y all t<span class=\"_ _2\"></span>he use<span class=\"_ _2\"></span>ful li<span class=\"_ _2\"></span>fe of th<span class=\"_ _2\"></span>at ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, thi<span class=\"_ _2\"></span>s is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed as a finance lease. On<span class=\"_ _0\"></span> commencement of a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> sub<span class=\"_ _2\"></span>-lease, the pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y ri<span class=\"_ _2\"></span>ght-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _2\"></span>se ass<span class=\"_ _2\"></span>et is t<span class=\"_ _2\"></span>reated a<span class=\"_ _2\"></span>s dis<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d of and a n<span class=\"_ _2\"></span>et investment in lease, equivalent to<span class=\"_ _0\"></span> the net present value<span class=\"_ _0\"></span> of the fu<span class=\"_ _2\"></span>ture re<span class=\"_ _2\"></span>nt rece<span class=\"_ _2\"></span>ipt<span class=\"_ _2\"></span>s, is re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as a rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble on t<span class=\"_ _2\"></span>he ba<span class=\"_ _2\"></span>lance<span class=\"_ _2\"></span> she<span class=\"_ _2\"></span>et (se<span class=\"_ _2\"></span>e note 13<span class=\"_ _2\"></span>). Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>e val<span class=\"_ _2\"></span>ue of th<span class=\"_ _2\"></span>e recei<span class=\"_ _2\"></span>pt<span class=\"_ _2\"></span>s from t<span class=\"_ _2\"></span>he sub-<span class=\"_ _2\"></span>lease is<span class=\"_ _0\"></span> lower than the amount payable on<span class=\"_ _0\"></span> the head-<span class=\"_ _2\"></span>lease, we rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>se a los<span class=\"_ _2\"></span>s on di<span class=\"_ _2\"></span>spos<span class=\"_ _2\"></span>al of t<span class=\"_ _2\"></span>he rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-us<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et in th<span class=\"_ _2\"></span>e income statement<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>Ope<span class=\"_ _2\"></span>rating leases<span class=\"_ _314\"> </span>A ri<span class=\"_ _2\"></span>ght-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _2\"></span>se ass<span class=\"_ _2\"></span>et tha<span class=\"_ _2\"></span>t is sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let fo<span class=\"_ _2\"></span>r les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d usef<span class=\"_ _2\"></span>ul li<span class=\"_ _2\"></span>fe is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed as a<span class=\"_ _2\"></span>n oper<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng lea<span class=\"_ _2\"></span>se and r<span class=\"_ _2\"></span>enta<span class=\"_ _2\"></span>l inco<span class=\"_ _2\"></span>me is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed as re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>ved in ot<span class=\"_ _2\"></span>her i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e. We cont<span class=\"_ _2\"></span>inue t<span class=\"_ _2\"></span>o recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span> the proper<span class=\"_ _2\"></span>ty right-<span class=\"_ _2\"></span>of-use asset on<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span><div class=\"gse3\"><table class=\"s w339 h275\" id=\"_7e0cf26f-556b-4b91-87ff-694ef5a48da8\"><tr><td></td><td></td><td class=\"t m0 xb80 hb y2362 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _81\"> </span><span class=\"ff76 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></span></td></tr><tr><td></td><td class=\"c n x4ec y2291 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y2291 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w727 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current lease<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb81 y2288 w225 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">502<span class=\"_ _314\"> </span></div></td><td class=\"c n xb82 y2288 w4f7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">494<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w728 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Current lease<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb83 y228f w729 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">125<span class=\"_ _314\"> </span></div></td><td class=\"c n xa19 y228f w66b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">140<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w72a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal lease<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb84 y2069 wa8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">627<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xb7f h193 y2363 ff76 fs129 fc1 sc0 ls8 ws5\">634<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs457\">Movements in lease liabilities during the y<span class=\"_ _0\"></span>ear are as<span class=\"_ _0\"></span> follows:<span class=\"_ _314\"> </span></div><div class=\"gs458\"><table class=\"s w71a h274\" id=\"_e943338e-c71e-4da5-b079-44a41bca6625\"><tr><td></td><td></td><td class=\"c n x4e9 y235f w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y235f w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5e0 y2360 w33 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e1 y2360 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e2 y2360 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234a w342 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5fa y234a w18e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">634<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6b y234a w71b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsab wsd4\">636<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d6 w71c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Leases<span class=\"_ _0\"></span> terminated early<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb6c y22d6 w680 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6d y22d6 w40d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234b w71d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">New lease<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6e y234b w3bb h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6f y234b wf6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">114<span class=\"_ _314\"> </span></div></td><td class=\"c n xb70 y234b w71e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">81<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a3 w535 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Lease<span class=\"_ _0\"></span> modif<span class=\"_ _2\"></span>ications<span class=\"_ _314\"> </span></div></td><td class=\"c n xb71 y22a3 wb8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n xb72 y22a3 w1a8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">59<span class=\"_ _314\"> </span></div></td><td class=\"c n xb73 y22a3 w187 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsab wsd4\">72<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w71f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease int<span class=\"_ _0\"></span>erest expense<span class=\"_ _314\"> </span></div></td><td class=\"c n xb74 y22d9 w44 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">5.1<span class=\"_ _314\"> </span></div></td><td class=\"c n xb75 y22d9 w720 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n xb76 y22d9 w14a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">20<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w721 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease payments \u2013 principal<span class=\"_ _314\"> </span></div></td><td class=\"c n xb77 y2297 w1df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>6.4<span class=\"_ _314\"> </span></div></td><td class=\"c n xb78 y2297 w722 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">(1<span class=\"_ _2\"></span>61)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb79 y2297 w723 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(156)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w724 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Lea<span class=\"_ _2\"></span>se pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts \u2013 i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb7a y2288 w136 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb7b y2288 w725 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(20<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w349 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb7c y228f w54a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>8)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb7d y228f w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb7e y2069 w726 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">627<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xb7f h193 y2361 ff76 fs129 fc1 sc0 ls8 ws5\">634<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs459\">The maturit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> of the Group\u2019<span class=\"_ _0\"></span>s lease commitments is disclosed within </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs45a\">the risk management not<span class=\"_ _0\"></span>e (see note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.5). The pot<span class=\"_ _0\"></span>ential future lease </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs45b\">payment<span class=\"_ _2\"></span>s, should<span class=\"_ _0\"></span> the Group exer<span class=\"_ _0\"></span>cise extension and termination </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs45c\">options, would result in<span class=\"_ _0\"></span> an increase in<span class=\"_ _0\"></span> right-<span class=\"_ _2\"></span>of-use assets and lease </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs45d\">liabilities of up t<span class=\"_ _0\"></span>o \u00a3272 million.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs45e\">The w<span class=\"_ _2\"></span>eigh<span class=\"_ _2\"></span>ted ave<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>e disco<span class=\"_ _2\"></span>unt r<span class=\"_ _2\"></span>ate use<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p for le<span class=\"_ _2\"></span>ase </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs45f\">lia<span class=\"_ _2\"></span>bili<span class=\"_ _2\"></span>tie<span class=\"_ _2\"></span>s was 3<span class=\"_ _2\"></span>.5% (2024: 3.<span class=\"_ _2\"></span>3%)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs460\">A limited number<span class=\"_ _0\"></span> of the Group\u2019<span class=\"_ _0\"></span>s leases ar<span class=\"_ _0\"></span>e subject to variable lease </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs461\">payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> linked to<span class=\"_ _0\"></span> publicly available indexes. A<span class=\"_ _0\"></span>djus<span class=\"_ _2\"></span>tments to the value </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs462\">of the lease<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> and associated assets are made<span class=\"_ _0\"></span> annually,<span class=\"_ _0\"></span> but do </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs463\">not h<span class=\"_ _2\"></span>ave a mate<span class=\"_ _2\"></span>rial i<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>n the G<span class=\"_ _2\"></span>roup\u2019s net a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLeasesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-578": {
   "value": "The Group<span class=\"_ _3\"></span>\u2019s sourc<span class=\"_ _0\"></span>es of borro<span class=\"_ _0\"></span>wing for funding<span class=\"_ _0\"></span> and liquidity purposes<span class=\"_ _314\"> </span>inc<span class=\"_ _2\"></span>lude a ra<span class=\"_ _2\"></span>nge of com<span class=\"_ _2\"></span>mit<span class=\"_ _2\"></span>ted ba<span class=\"_ _2\"></span>nk faci<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies and l<span class=\"_ _2\"></span>ong-<span class=\"_ _2\"></span>term a<span class=\"_ _2\"></span>nd<span class=\"_ _314\"> </span>short-term issuanc<span class=\"_ _0\"></span>es in the c<span class=\"_ _0\"></span>apital marke<span class=\"_ _0\"></span>ts including comm<span class=\"_ _0\"></span>ercial paper<span class=\"_ _314\"> </span>and b<span class=\"_ _2\"></span>onds<span class=\"_ _2\"></span>. Liabi<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies ari<span class=\"_ _2\"></span>sing fr<span class=\"_ _2\"></span>om the G<span class=\"_ _2\"></span>roup\u2019s lease a<span class=\"_ _2\"></span>rrang<span class=\"_ _2\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>are al<span class=\"_ _2\"></span>so repo<span class=\"_ _2\"></span>rte<span class=\"_ _2\"></span>d in bor<span class=\"_ _2\"></span>rowin<span class=\"_ _2\"></span>gs. N<span class=\"_ _2\"></span>et debt c<span class=\"_ _2\"></span>ompri<span class=\"_ _2\"></span>ses cash a<span class=\"_ _2\"></span>nd cash<span class=\"_ _314\"> </span>equ<span class=\"_ _2\"></span>ival<span class=\"_ _2\"></span>ents le<span class=\"_ _2\"></span>ss lea<span class=\"_ _2\"></span>se liab<span class=\"_ _2\"></span>ilit<span class=\"_ _2\"></span>ies and b<span class=\"_ _2\"></span>orrow<span class=\"_ _2\"></span>ings<span class=\"_ _2\"></span>, adj<span class=\"_ _2\"></span>usted fo<span class=\"_ _2\"></span>r deri<span class=\"_ _2\"></span>vat<span class=\"_ _2\"></span>ive<span class=\"_ _314\"> </span>fina<span class=\"_ _2\"></span>ncial in<span class=\"_ _0\"></span>st<span class=\"_ _2\"></span>ruments.<span class=\"_ _314\"> </span><table class=\"s w661 h26f\" id=\"_b1c5eaf6-6c1d-4169-b082-32a8c0bdfa41\"><tr><td></td><td></td><td class=\"c n x4c5 y2321 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2321 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4c7 y2322 w33 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c8 y2322 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c9 y2322 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2323 ff75 fs129 fc1 sc0 lsad wsdc\">Non<span class=\"_ _2\"></span>-current<span class=\"_ _1dc\"> </span><span class=\"ls4 ws3\"> <span class=\"_ _45\"> </span></span><span class=\"ls4 ws3\"><span class=\"ff76\"> </span></span></td><td></td><td></td><td></td></tr><tr><td class=\"t m0 x1e7 h193 y2324 ff76 fs129 fc1 sc0 ls89 wsda\">Bank borrowings<span class=\"_ _0\"></span> \u2013 committed<span class=\"_ _314\"> </span> </td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y2325 w662 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">bank facilities</div><div class=\"t m0 xa6a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x9c7 y2325 wa0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n xa6b y2325 w663 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\"><span class=\"ff76 ls7b wse0\">(6<span class=\"_ _314\"> </span></span><span class=\"ff76 ls7b wse0\">)<span class=\"_ _314\"> </span></span></div></td></tr><tr><td class=\"c n x1eb y2326 w664 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa6c y2326 w30d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xa6d y2326 w665 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>8<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2327 w666 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x938 y2327 w55f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">5<span class=\"_ _2\"></span>02<span class=\"_ _314\"> </span></div></td><td class=\"c n xa6e y2327 w51e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x5d8 y22fd wfc h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">8,<span class=\"_ _2\"></span>393<span class=\"_ _314\"> </span></div></td><td class=\"c n xa6f y22fd w301 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">8,<span class=\"_ _2\"></span>373<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2328 ff75 fs129 fc1 sc0 ls76 ws9f\">Current<span class=\"_ _2a5\"> </span><span class=\"ls4 ws3\"> <span class=\"_ _d2\"> </span></span><span class=\"ls4 ws3\"><span class=\"ff76\"> </span></span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22ff w667 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Commercial paper<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa70 y22ff w668 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa3 wsce\">1,<span class=\"_ _2\"></span>841<span class=\"_ _314\"> </span></div></td><td class=\"c n xa71 y22ff w669 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">1,037<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2300 w664 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa72 y2300 w4c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">1,<span class=\"_ _2\"></span>359<span class=\"_ _314\"> </span></div></td><td class=\"c n xa73 y2300 w66a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">415<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a1 w666 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa74 y22a1 w62 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">125<span class=\"_ _314\"> </span></div></td><td class=\"c n xa75 y22a1 w66b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">140<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"c n x5d8 y2285 w66c h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls39 ws0\">3,<span class=\"_ _2\"></span>325<span class=\"_ _314\"> </span></div></td><td class=\"c n xa76 y2285 w66d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa2 wscd\">1<span class=\"_ _2\"></span>,592<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2286 w66e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> and lease liabilities<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa77 y2286 w66f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">11,7<span class=\"_ _2\"></span>18<span class=\"_ _314\"> </span></div></td><td class=\"c n xa78 y2286 w670 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">9,9<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2329 ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> borrowings ex<span class=\"_ _0\"></span>cluding<span class=\"_ _314\"> </span> </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2288 w671 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xa79 y2288 w397 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n xa7a y2288 w672 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">11,09<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xa7b y2288 w673 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">9,<span class=\"_ _2\"></span>331<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w666 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td class=\"c n xa7c y228f w356 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">16.2<span class=\"_ _314\"> </span></div></td><td class=\"c n xa7d y228f wa8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">627<span class=\"_ _314\"> </span></div></td><td class=\"c n xa7e y228f w674 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8 ws5\">634<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w66e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> and lease liabilities<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa77 y2069 w66f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb0 wsdb\">11,7<span class=\"_ _2\"></span>18</div></td><td class=\"t m0 xa7f h193 y232a ff76 fs129 fc1 sc0 lsa4 wscf\">9,965<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>Balances are<span class=\"_ _0\"></span> shown net<span class=\"_ _0\"></span> of capitalised arrangement fees. Where<span class=\"_ _0\"></span> there are<span class=\"_ _0\"></span> no amounts<span class=\"_ _314\"> </span>borrowed on<span class=\"_ _0\"></span> a particular facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, this gives<span class=\"_ _0\"></span> rise to a<span class=\"_ _0\"></span> negative balance.<span class=\"_ _314\"> </span>16<span class=\"_ _2\"></span>. Borrowings, lease<span class=\"_ _2\"></span> liabilities and net debt<span class=\"_ _314\"> </span>16.<span class=\"_ _0\"></span>1 Borrowings  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span>Bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ings a<span class=\"_ _2\"></span>re ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e fair v<span class=\"_ _2\"></span>alu<span class=\"_ _2\"></span>e of amou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s received, net<span class=\"_ _0\"></span> of capitalised direc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> issue cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> arrangement fees (including upfr<span class=\"_ _0\"></span>ont facilit<span class=\"_ _2\"></span>y fees<span class=\"_ _0\"></span>). Subsequentl<span class=\"_ _2\"></span>y<span class=\"_ _3\"></span>, these liabilities are carried at amort<span class=\"_ _2\"></span>ised c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t. In<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t pay<span class=\"_ _2\"></span>able o<span class=\"_ _2\"></span>n bor<span class=\"_ _2\"></span>rowin<span class=\"_ _2\"></span>gs, d<span class=\"_ _2\"></span>irec<span class=\"_ _2\"></span>t is<span class=\"_ _2\"></span>sue co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s and<span class=\"_ _2\"></span> arrangement fees (including upfront<span class=\"_ _0\"></span> facilit<span class=\"_ _2\"></span>y fees<span class=\"_ _0\"></span>) are r<span class=\"_ _0\"></span>ecognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> over the period of<span class=\"_ _0\"></span> the borrowings using the effec<span class=\"_ _2\"></span>tive interest method.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ings a<span class=\"_ _2\"></span>re iden<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed as a he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item i<span class=\"_ _2\"></span>n a desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d fair value hedge r<span class=\"_ _0\"></span>elationship, fair value adjustments are recognised in<span class=\"_ _0\"></span> accordance with our policy (see not<span class=\"_ _0\"></span>e 17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs3fe\">The Group has<span class=\"_ _0\"></span> the following committed bank facilities, commercial paper and<span class=\"_ _0\"></span> unsecured bonds:<span class=\"_ _314\"> </span></div><div class=\"gs3ff\"><table class=\"s w675 h270\" id=\"_14f22488-74a9-4d2e-a64f-1d5f376a5332\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xa80 h13 y232b ff75 fs6 fc1 sc0 ls110 ws7\">Carr<span class=\"_ _2\"></span>ying value<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xa81 hb y232c ff76 fs6 fc1 sc0 ls12 ws81\">Maturit<span class=\"_ _2\"></span>y <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 x429 hb y232d ff76 fs6 fc1 sc0 ls27 ws45\">Facility/b<span class=\"_ _2\"></span>ond<span class=\"_ _314\"> </span></td><td class=\"c n xa82 y232e w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xa83 y232e w270 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n xa84 y232e w676 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9e ws45\">Inte<span class=\"_ _2\"></span>rest rate<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 xa85 hb y232f ff76 fs6 fc1 sc0 ls12 ws81\">date<span class=\"_ _314\"> </span></td><td class=\"c n xa86 y2330 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xa87 y2330 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xa88 y2330 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xa89 y2330 w4f3 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2331 ff75 fs129 fc1 sc0 ls6d wsd4\">Committed bank facilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y2332 w677 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Multi<span class=\"_ _2\"></span>-currency revolving credit facility</div><div class=\"t m0 xa8a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa8b y2332 w678 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">De<span class=\"_ _2\"></span>c 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xa8c y2332 w679 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">1<span class=\"_ _2\"></span>,9<span class=\"_ _2\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xa8d y2332 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xa8e y2332 w53c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c xa90 y2332 w67a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">s<span class=\"_ _2\"></span>ee no<span class=\"_ _2\"></span>te</div><div class=\"t m0 xa8f h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2333 w677 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Multi<span class=\"_ _2\"></span>-currency revolving credit facility</div><div class=\"t m0 xa8a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa8b y2333 w678 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">De<span class=\"_ _2\"></span>c 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xa91 y2333 w67b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,075<span class=\"_ _314\"> </span></div></td><td class=\"c n xa92 y2333 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xa93 y2333 w53c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c xa95 y2333 w67c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">s<span class=\"_ _2\"></span>ee no<span class=\"_ _2\"></span>te</div><div class=\"t m0 xa94 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2334 w67d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span> mult<span class=\"_ _2\"></span>i-currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> revolving credit facility</div><div class=\"t m0 xa96 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa8b y2334 w67e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsdc\">No<span class=\"_ _2\"></span>v 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xa97 y2334 w67f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">371<span class=\"_ _314\"> </span></div></td><td class=\"c n xa98 y2334 w680 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xa99 y2334 w34a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>2)<span class=\"_ _314\"> </span></div></td><td class=\"c xa9b y2334 w681 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">se<span class=\"_ _2\"></span>e note</div><div class=\"t m0 xa9a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"c n xa9c y2335 w682 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">3,<span class=\"_ _2\"></span>371<span class=\"_ _314\"> </span></div></td><td class=\"c n xa9d y2335 w680 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xa9e y2335 w683 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">(6)<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c n x1eb y2336 w684 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws5\">Commercial paper<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xa9f y2336 w685 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>,8<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa0 y2336 w686 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">1,037<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa1 y2336 w687 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 wsaf\">0.<span class=\"_ _2\"></span>502<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2337 ff75 fs129 fc1 sc0 ls6c ws96\">Bonds<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2338 w688 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued April 20<span class=\"_ _0\"></span>21<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaa2 y2338 w689 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsb5\">A<span class=\"_ _2\"></span>pr 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa3 y2338 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa4 y2338 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa5 y2338 w66a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">415<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa6 y2338 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws76\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2339 w68a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">$1<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>, iss<span class=\"_ _2\"></span>ued A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2021<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaa7 y2339 w68b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsdc\">Ap<span class=\"_ _2\"></span>r 2026<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa8 y2339 w68c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb4 wse2\">74<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa9 y2339 w68d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls78 wse4\">742<span class=\"_ _314\"> </span></div></td><td class=\"c n xaaa y2339 w68e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">798<span class=\"_ _314\"> </span></div></td><td class=\"c n xaab y2339 w68f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">1.<span class=\"_ _2\"></span>375<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233a w690 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac700 million<span class=\"_ _0\"></span> bond, issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>3<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaac y233a w691 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsdc\">S<span class=\"_ _2\"></span>ep 2026<span class=\"_ _314\"> </span></div></td><td class=\"c n xaad y233a w692 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls72 ws9b\">61<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xaae y233a w693 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xaaf y233a w694 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa2 wscd\">592<span class=\"_ _314\"> </span></div></td><td class=\"c n xab0 y233a w695 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">4<span class=\"_ _2\"></span>.125<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233b w696 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">$500 million<span class=\"_ _0\"></span> bond, issued March<span class=\"_ _0\"></span> 202<span class=\"_ _3\"></span>4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xab1 y233b w697 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">Ma<span class=\"_ _2\"></span>r 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xab2 y233b w67f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">371<span class=\"_ _314\"> </span></div></td><td class=\"c n xab3 y233b w698 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6a ws1\">370<span class=\"_ _314\"> </span></div></td><td class=\"c n xab4 y233b w13f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">397<span class=\"_ _314\"> </span></div></td><td class=\"c n xab5 y233b w699 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">4.875<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233c w69a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">\u20ac600 million bond, issued<span class=\"_ _0\"></span> September 20<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xab6 y233c w69b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">Se<span class=\"_ _2\"></span>p 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xab7 y233c wa3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb9 wse9\">524<span class=\"_ _314\"> </span></div></td><td class=\"c n xab8 y233c w5a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls71 ws9a\">521<span class=\"_ _314\"> </span></div></td><td class=\"c n xab9 y233c w69c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xaba y233c w69d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">2.75<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233d w69e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">$100 million bond,<span class=\"_ _0\"></span> issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xabb y233d w69b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">Se<span class=\"_ _2\"></span>p 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xabc y233d w69f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb4 wse2\">74<span class=\"_ _314\"> </span></div></td><td class=\"c n xabd y233d w6a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls78 wse4\">74<span class=\"_ _314\"> </span></div></td><td class=\"c n xabe y233d w6a1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">79<span class=\"_ _314\"> </span></div></td><td class=\"c n xabf y233d w6a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">4.000<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233e w6a3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued December 2<span class=\"_ _0\"></span>018<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xac0 y233e w6a4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">D<span class=\"_ _2\"></span>ec 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xac1 y233e w6a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">43<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xac2 y233e w19a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">435<span class=\"_ _314\"> </span></div></td><td class=\"c n xac3 y233e w6a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">41<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xac4 y233e w6a7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>.750<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233f w688 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued April 20<span class=\"_ _0\"></span>21<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaa2 y233f w6a8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsdc\">A<span class=\"_ _2\"></span>pr 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xac5 y233f w6a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">436<span class=\"_ _314\"> </span></div></td><td class=\"c n xac6 y233f w19a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">435<span class=\"_ _314\"> </span></div></td><td class=\"c n xac7 y233f w6aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">414<span class=\"_ _314\"> </span></div></td><td class=\"c n x2be y233f w6ab h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">0.<span class=\"_ _2\"></span>250<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2340 w68a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">$1<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>, iss<span class=\"_ _2\"></span>ued A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2021<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaa7 y2340 w6a8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsdc\">A<span class=\"_ _2\"></span>pr 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xac8 y2340 w68c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb4 wse2\">74<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xac9 y2340 w6ac h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls78 wse4\">741<span class=\"_ _314\"> </span></div></td><td class=\"c n xaca y2340 w6ad h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">797<span class=\"_ _314\"> </span></div></td><td class=\"c n xacb y2340 w6ae h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">2.<span class=\"_ _0\"></span>000<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2341 w6af h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a511,50<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span> million<span class=\"_ _314\"> </span></div></td><td class=\"c n xacc y2341 w6b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">bond, issued<span class=\"_ _0\"></span> April 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xacd y2341 w6b1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsdc\">Apr 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xace y2341 w6b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">55<span class=\"_ _314\"> </span></div></td><td class=\"c n xacf y2341 w6b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls88 wsb4\">54<span class=\"_ _314\"> </span></div></td><td class=\"c n xad0 y2341 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xad1 y2341 w6b4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>.493<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2342 w6b5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a3400 million<span class=\"_ _0\"></span> bond, issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xad2 y2342 w6b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsdc\">Oc<span class=\"_ _2\"></span>t 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xad3 y2342 w583 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">400<span class=\"_ _314\"> </span></div></td><td class=\"c n xad4 y2342 w6b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsac wsd7\">401<span class=\"_ _314\"> </span></div></td><td class=\"c n xad5 y2342 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xad6 y2342 w6b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">4.50<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2343 w6b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued September 2<span class=\"_ _0\"></span>017<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xad7 y2343 w6ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 ws0\">S<span class=\"_ _2\"></span>ep 2029<span class=\"_ _314\"> </span></div></td><td class=\"c n xad8 y2343 w46d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">436<span class=\"_ _314\"> </span></div></td><td class=\"c n xad9 y2343 w6bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">435<span class=\"_ _314\"> </span></div></td><td class=\"c n xada y2343 w6a6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">41<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xadb y2343 w6a7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>.750<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2344 w6bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a3500 million bond,<span class=\"_ _0\"></span> issued April 20<span class=\"_ _0\"></span>21<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xadc y2344 w6bd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">A<span class=\"_ _2\"></span>pr 203<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xadd y2344 w6be h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">500<span class=\"_ _314\"> </span></div></td><td class=\"c n xade y2344 w6bf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">496<span class=\"_ _314\"> </span></div></td><td class=\"c n xadf y2344 w386 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xae0 y2344 w679 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">1<span class=\"_ _2\"></span>.6<span class=\"_ _2\"></span>25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2345 w6c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a514,30<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span> million bond, issued<span class=\"_ _0\"></span> April 202<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xae1 y2345 w6c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ap<span class=\"_ _2\"></span>r 2030<span class=\"_ _314\"> </span></div></td><td class=\"c n xae2 y2345 w101 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xae3 y2345 w6c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xae4 y2345 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xae5 y2345 w6c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsea ws113\">1.73<span class=\"_ _0\"></span>2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2346 w690 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac700 million<span class=\"_ _0\"></span> bond, issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>3<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaac y2346 w6c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>p 2030<span class=\"_ _314\"> </span></div></td><td class=\"c n xae6 y2346 w692 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">61<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xae7 y2346 w6c5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">629<span class=\"_ _314\"> </span></div></td><td class=\"c n xae8 y2346 w6c6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">608<span class=\"_ _314\"> </span></div></td><td class=\"c n xae9 y2346 w6c7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">4<span class=\"_ _2\"></span>.231<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2347 w6c8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">$750 million<span class=\"_ _0\"></span> bond, issued April 2<span class=\"_ _0\"></span>021</div><div class=\"t m0 xaea h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaeb y2347 w6c9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ap<span class=\"_ _2\"></span>r 2031<span class=\"_ _314\"> </span></div></td><td class=\"c n xaec y2347 w6ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">557<span class=\"_ _314\"> </span></div></td><td class=\"c n xaed y2347 w6cb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">55<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xaee y2347 w6cc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">795<span class=\"_ _314\"> </span></div></td><td class=\"c n xaef y2347 w6cd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">2.5<span class=\"_ _2\"></span>00<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2348 w6ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued November 2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaf0 y2348 w6cf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">N<span class=\"_ _2\"></span>ov 203<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf1 y2348 w46d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">436<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf2 y2348 w6d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">4<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf3 y2348 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf4 y2348 w6d1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">3.000<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2349 w6d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20a3150 million<span class=\"_ _0\"></span> bond, issued April 2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaf5 y2349 w6d3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">A<span class=\"_ _2\"></span>pr 20<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf6 y2349 w6d4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">141<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf7 y2349 wa3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">140<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf8 y2349 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf9 y2349 w6d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>.15<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234a w6d6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a3500 million bond,<span class=\"_ _0\"></span> issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xafa y234a w6d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>p 2032<span class=\"_ _314\"> </span></div></td><td class=\"c n xafb y234a w6d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xafc y234a w64d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">49<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xafd y234a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xafe y234a w6d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">4.875<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d6 w688 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued April 20<span class=\"_ _0\"></span>21<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaff y22d6 w6da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wscc\">Apr<span class=\"_ _0\"></span> 20<span class=\"_ _0\"></span>33<span class=\"_ _314\"> </span></div></td><td class=\"c n xb00 y22d6 w1f3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">43<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xb01 y22d6 w6d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">4<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td><td class=\"c n xb02 y22d6 w6db h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">410<span class=\"_ _314\"> </span></div></td><td class=\"c n xb03 y22d6 w6dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">0.750<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234b w6dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">$750 million<span class=\"_ _0\"></span> bond, issued March<span class=\"_ _0\"></span> 202<span class=\"_ _3\"></span>4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb04 y234b w6de h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ma<span class=\"_ _2\"></span>r 2034<span class=\"_ _314\"> </span></div></td><td class=\"c n xb05 y234b w6ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">557<span class=\"_ _314\"> </span></div></td><td class=\"c n xb06 y234b w6df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">5<span class=\"_ _2\"></span>61<span class=\"_ _314\"> </span></div></td><td class=\"c n xb07 y234b w6e0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">587<span class=\"_ _314\"> </span></div></td><td class=\"c n xb08 y234b w6e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">5.<span class=\"_ _2\"></span>297<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a3 w6e2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">\u00a59<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>, iss<span class=\"_ _2\"></span>ued A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2025<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb09 y22a3 w6e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ap<span class=\"_ _2\"></span>r 2035<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0a y22a3 w6e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">43<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0b y22a3 w6e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">43<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0c y22a3 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0d y22a3 w6e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">2.1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w6e7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">\u00a55<span class=\"_ _2\"></span>,2<span class=\"_ _2\"></span>00 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n bon<span class=\"_ _2\"></span>d, is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d Apr<span class=\"_ _2\"></span>il 2025<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb0e y22d9 w6e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 ws9e\">Apr 2037<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf6 y22d9 w6e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0f y22d9 w6ea h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _314\"> </span></div></td><td class=\"c n xae4 y22d9 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb10 y22d9 w6eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">2.<span class=\"_ _2\"></span>382<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w6ec h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">$750 million<span class=\"_ _0\"></span> bond, issued April 2<span class=\"_ _0\"></span>021<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb11 y2297 w6ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ap<span class=\"_ _2\"></span>r 2041<span class=\"_ _314\"> </span></div></td><td class=\"c n xb12 y2297 w6ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">557<span class=\"_ _314\"> </span></div></td><td class=\"c n xb13 y2297 w6ee h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">549<span class=\"_ _314\"> </span></div></td><td class=\"c n x1f0 y2297 w694 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">592<span class=\"_ _314\"> </span></div></td><td class=\"c n xb14 y2297 w6ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">3.<span class=\"_ _2\"></span>200<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"c n xb15 y2288 w6f0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">9,<span class=\"_ _2\"></span>258<span class=\"_ _314\"> </span></div></td><td class=\"c n xb16 y2288 w6f1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb5 wse3\">9<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>251<span class=\"_ _314\"> </span></div></td><td class=\"c n xb17 y2288 w6f2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">8<span class=\"_ _2\"></span>,300<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c n x1eb y2069 w6f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> excluding lease liabilities<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xb18 y2069 w6f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">11<span class=\"_ _2\"></span>,091<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x76b h193 y234c ff76 fs129 fc1 sc0 ls4 ws3\">9,3<span class=\"_ _2\"></span>31<span class=\"_ _314\"> </span></td><td></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs400\">1 <span class=\"_ _c\"> </span>Negative balances r<span class=\"_ _0\"></span>epresent the value o<span class=\"_ _0\"></span>f unamort<span class=\"_ _2\"></span>ised<span class=\"_ _0\"></span> arrangement fees.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs401\">2 <span class=\"_ _7\"> </span>In<span class=\"_ _2\"></span>tere<span class=\"_ _2\"></span>st is p<span class=\"_ _2\"></span>aya<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e ris<span class=\"_ _2\"></span>k-fr<span class=\"_ _2\"></span>ee ra<span class=\"_ _2\"></span>te pl<span class=\"_ _2\"></span>us a ma<span class=\"_ _2\"></span>rgin a<span class=\"_ _2\"></span>nd cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt sp<span class=\"_ _2\"></span>rea<span class=\"_ _2\"></span>d (CA<span class=\"_ _2\"></span>S)<span class=\"_ _2\"></span>. The C<span class=\"_ _2\"></span>AS i<span class=\"_ _2\"></span>s var<span class=\"_ _2\"></span>iab<span class=\"_ _2\"></span>le an<span class=\"_ _2\"></span>d dep<span class=\"_ _2\"></span>end<span class=\"_ _2\"></span>s on t<span class=\"_ _2\"></span>he ten<span class=\"_ _2\"></span>or an<span class=\"_ _2\"></span>d cur<span class=\"_ _2\"></span>ren<span class=\"_ _2\"></span>cy o<span class=\"_ _2\"></span>f the b<span class=\"_ _2\"></span>orr<span class=\"_ _2\"></span>owi<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs402\">3 <span class=\"_ _7\"> </span>I<span class=\"_ _2\"></span>nte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t is pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le at a r<span class=\"_ _2\"></span>ate e<span class=\"_ _2\"></span>qual t<span class=\"_ _2\"></span>o, at Trad<span class=\"_ _2\"></span>ewe<span class=\"_ _2\"></span>b\u2019s opt<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>, eit<span class=\"_ _2\"></span>her (a<span class=\"_ _2\"></span>) a bas<span class=\"_ _2\"></span>e rat<span class=\"_ _2\"></span>e plu<span class=\"_ _2\"></span>s a marg<span class=\"_ _2\"></span>in or (<span class=\"_ _2\"></span>b) t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk-f<span class=\"_ _2\"></span>ree r<span class=\"_ _2\"></span>ate p<span class=\"_ _2\"></span>lus a C<span class=\"_ _2\"></span>AS p<span class=\"_ _2\"></span>lus a m<span class=\"_ _2\"></span>arg<span class=\"_ _2\"></span>in, d<span class=\"_ _2\"></span>epe<span class=\"_ _2\"></span>ndi<span class=\"_ _2\"></span>ng on t<span class=\"_ _2\"></span>he cu<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>nc<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs403\">4 <span class=\"_ _7\"> </span>I<span class=\"_ _2\"></span>n Mar<span class=\"_ _2\"></span>ch 2025<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p com<span class=\"_ _2\"></span>ple<span class=\"_ _2\"></span>ted a te<span class=\"_ _2\"></span>nde<span class=\"_ _2\"></span>r of<span class=\"_ _2\"></span>fer to r<span class=\"_ _2\"></span>epu<span class=\"_ _2\"></span>rcha<span class=\"_ _2\"></span>se US<span class=\"_ _2\"></span>$250 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: US$<span class=\"_ _2\"></span>250 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on) of t<span class=\"_ _2\"></span>he o<span class=\"_ _2\"></span>rig<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>l US$<span class=\"_ _2\"></span>1,<span class=\"_ _2\"></span>250 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on bo<span class=\"_ _2\"></span>nd is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d in Ap<span class=\"_ _2\"></span>ri<span class=\"_ _2\"></span>l 2021 an<span class=\"_ _2\"></span>d mat<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng in A<span class=\"_ _2\"></span>pr<span class=\"_ _2\"></span>il 203<span class=\"_ _2\"></span>1.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs404\">Commit<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed bank facilities: Multi-<span class=\"_ _2\"></span>curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>evolving credit facilities<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs405\">In 2023<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup a<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ded i<span class=\"_ _2\"></span>ts \u00a3<span class=\"_ _2\"></span>1,425 mil<span class=\"_ _2\"></span>lion re<span class=\"_ _2\"></span>volv<span class=\"_ _2\"></span>ing c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs406\">facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, incr<span class=\"_ _0\"></span>easing the facilit<span class=\"_ _2\"></span>y amount<span class=\"_ _0\"></span> to \u00a31,925<span class=\"_ _0\"></span> million and extending </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs407\">th<span class=\"_ _2\"></span>e matu<span class=\"_ _2\"></span>rit<span class=\"_ _2\"></span>y to D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2027<span class=\"_ _0\"></span>. The G<span class=\"_ _2\"></span>roup r<span class=\"_ _2\"></span>etai<span class=\"_ _2\"></span>ned acc<span class=\"_ _2\"></span>ess to i<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs408\">\u00a31,075 million<span class=\"_ _0\"></span> revolving credit facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, which<span class=\"_ _0\"></span> also matures in<span class=\"_ _0\"></span> December </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs409\">2027<span class=\"_ _3\"></span>. I<span class=\"_ _2\"></span>n Nov<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 2023, T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>deweb t<span class=\"_ _2\"></span>ermi<span class=\"_ _2\"></span>nated i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s revol<span class=\"_ _2\"></span>vin<span class=\"_ _2\"></span>g cred<span class=\"_ _2\"></span>it </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs40a\">facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, enter<span class=\"_ _0\"></span>ed into in<span class=\"_ _0\"></span> Ap<span class=\"_ _2\"></span>ril<span class=\"_ _0\"></span><span class=\"_ gsbf\"> </span>2019, and r<span class=\"_ _0\"></span>eplaced it with a new </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs40b\">US$500<span class=\"_ gsbf\"> </span>million r<span class=\"_ _0\"></span>evolving credit facilit<span class=\"_ _2\"></span>y which m<span class=\"_ _0\"></span>atures in November </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs40c\">20<span class=\"_ _0\"></span>28. No amounts were outst<span class=\"_ _2\"></span>anding under<span class=\"_ _0\"></span> either the Group </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs40d\">facilities or the T<span class=\"_ _3\"></span>rad<span class=\"_ _2\"></span>ew<span class=\"_ _0\"></span>eb facilit<span class=\"_ _2\"></span>y as<span class=\"_ _0\"></span> at 31 December 20<span class=\"_ _0\"></span>25.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls51 ws73 gs40e\">Commercial paper<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs40f\">The Group operates<span class=\"_ _0\"></span> a Euro Commerc<span class=\"_ _0\"></span>ial Paper (ECP) Programme, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs410\">wi<span class=\"_ _2\"></span>th a li<span class=\"_ _2\"></span>mit o<span class=\"_ _2\"></span>f \u00a32.<span class=\"_ _2\"></span>25<span class=\"_ gsbf\"> </span>bill<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>, and a US C<span class=\"_ _2\"></span>omm<span class=\"_ _2\"></span>ercial P<span class=\"_ _2\"></span>ape<span class=\"_ _2\"></span>r (US<span class=\"_ _2\"></span>CP) </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs411\">Pro<span class=\"_ _2\"></span>gram<span class=\"_ _2\"></span>me, w<span class=\"_ _2\"></span>ith a l<span class=\"_ _2\"></span>imi<span class=\"_ _2\"></span>t of \u00a31<span class=\"_ _2\"></span>.8<span class=\"_ _2\"></span>6 bill<span class=\"_ _2\"></span>ion. A<span class=\"_ _2\"></span>s at 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs412\">US$1,<span class=\"_ _2\"></span>383 million (\u00a31,039<span class=\"_ gsbf\"> </span>million<span class=\"_ _0\"></span>) was outs<span class=\"_ _2\"></span>tanding under the USCP </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs413\">Programme (20<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>4: $944<span class=\"_ gsbf\"> </span>million (\u00a3753<span class=\"_ gsbf\"> </span>million<span class=\"_ _0\"></span>)), and \u20ac850 million </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs414\">(\u00a3<span class=\"_ _2\"></span>7<span class=\"_ _0\"></span>42<span class=\"_ gsbf\"> </span>mil<span class=\"_ _2\"></span>lion) a<span class=\"_ _2\"></span>nd \u00a360<span class=\"_ gsbf\"> </span>m<span class=\"_ _2\"></span>illio<span class=\"_ _2\"></span>n und<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>e ECP Pr<span class=\"_ _2\"></span>ogra<span class=\"_ _2\"></span>mme (<span class=\"_ _2\"></span>202<span class=\"_ _0\"></span>4: </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs415\">\u20ac252<span class=\"_ _0\"></span><span class=\"_ gsbf\"> </span>million (\u00a3209<span class=\"_ gsbf\"> </span>million)<span class=\"_ _0\"></span> and \u00a375<span class=\"_ gsbf\"> </span>million<span class=\"_ _0\"></span>)<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span></div>Bonds<span class=\"_ _314\"> </span>In M<span class=\"_ _2\"></span>arch 2025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup com<span class=\"_ _2\"></span>plet<span class=\"_ _2\"></span>ed a tend<span class=\"_ _2\"></span>er of<span class=\"_ _2\"></span>fer to re<span class=\"_ _2\"></span>purc<span class=\"_ _2\"></span>hase US$250<span class=\"_ _0\"></span> million of the original US$1,250 million<span class=\"_ _0\"></span> bond issued in April 2021 an<span class=\"_ _2\"></span>d matu<span class=\"_ _2\"></span>ring i<span class=\"_ _2\"></span>n Ap<span class=\"_ _2\"></span>ril 203<span class=\"_ _2\"></span>1. U<span class=\"_ _2\"></span>S$224 mill<span class=\"_ _2\"></span>ion wa<span class=\"_ _2\"></span>s paid t<span class=\"_ _2\"></span>o repurc<span class=\"_ _2\"></span>hase<span class=\"_ _2\"></span> the bond, including US$3 million of<span class=\"_ _0\"></span> accrued interest. A gain o<span class=\"_ _0\"></span>f \u00a323<span class=\"_ gsbf\"> </span>million has<span class=\"_ _0\"></span> been recognised in finance income<span class=\"_ _0\"></span> (see note<span class=\"_ _0\"></span> 5.1), which includes the release<span class=\"_ _0\"></span> of deferred<span class=\"_ _0\"></span> arrangement fees, the par<span class=\"_ _2\"></span>tial r<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>ycling of a ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low he<span class=\"_ _2\"></span>dge f<span class=\"_ _2\"></span>rom t<span class=\"_ _2\"></span>he hed<span class=\"_ _2\"></span>ging r<span class=\"_ _2\"></span>eser<span class=\"_ _2\"></span>ve a<span class=\"_ _2\"></span>nd tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n cost<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>, which together totalled \u00a31 million. US$750 million of<span class=\"_ _0\"></span> the bond remains out<span class=\"_ _2\"></span>standing, af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> the repurchase o<span class=\"_ _0\"></span>f US$250 milli<span class=\"_ _0\"></span>on in December 2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>4.<span class=\"_ _314\"> </span>In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d a CH<span class=\"_ _2\"></span>F150 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Ap<span class=\"_ _2\"></span>ril 20<span class=\"_ _2\"></span>32 unde<span class=\"_ _2\"></span>r the E<span class=\"_ _2\"></span>uro Me<span class=\"_ _2\"></span>dium T<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>rm No<span class=\"_ _2\"></span>te (EM<span class=\"_ _2\"></span>TN)<span class=\"_ _2\"></span> Programme.<span class=\"_ _0\"></span> The bond has<span class=\"_ _0\"></span> been designated<span class=\"_ _0\"></span> as a hedging<span class=\"_ _0\"></span> instr<span class=\"_ _2\"></span>ument<span class=\"_ _0\"></span> in a C<span class=\"_ _2\"></span>HF ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent he<span class=\"_ _2\"></span>dge (s<span class=\"_ _2\"></span>ee not<span class=\"_ _2\"></span>e 17<span class=\"_ _0\"></span>.4a)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d JP<span class=\"_ _2\"></span>Y<span class=\"_ _3\"></span>4<span class=\"_ _2\"></span>0 bil<span class=\"_ _2\"></span>lion of f<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>xed rate b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s unde<span class=\"_ _2\"></span>r th<span class=\"_ _2\"></span>e EMT<span class=\"_ _2\"></span>N. Th<span class=\"_ _2\"></span>e iss<span class=\"_ _2\"></span>ue con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>ted of a J<span class=\"_ _2\"></span>PY11<span class=\"_ _2\"></span>.5 b<span class=\"_ _2\"></span>illio<span class=\"_ _2\"></span>n bon<span class=\"_ _2\"></span>d matu<span class=\"_ _2\"></span>ring i<span class=\"_ _2\"></span>n Apr<span class=\"_ _2\"></span>il 2028, a J<span class=\"_ _2\"></span>PY14<span class=\"_ _2\"></span>.3 b<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on bon<span class=\"_ _2\"></span>d matu<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g in Ap<span class=\"_ _2\"></span>ril 203<span class=\"_ _2\"></span>0, a JP<span class=\"_ _2\"></span>Y9 bill<span class=\"_ _2\"></span>ion bo<span class=\"_ _2\"></span>nd mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Ap<span class=\"_ _2\"></span>ril 20<span class=\"_ _2\"></span>35 and a J<span class=\"_ _2\"></span>PY5<span class=\"_ _2\"></span>.2 b<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on bo<span class=\"_ _2\"></span>nd mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Ap<span class=\"_ _2\"></span>ril 203<span class=\"_ _2\"></span>7<span class=\"_ _3\"></span>. The b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s have be<span class=\"_ _2\"></span>en de<span class=\"_ _2\"></span>sign<span class=\"_ _2\"></span>ated as h<span class=\"_ _2\"></span>edg<span class=\"_ _2\"></span>ing in<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s in a J<span class=\"_ _2\"></span>PY net investment hedge (see note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.4a).<span class=\"_ _314\"> </span>In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, the \u20ac<span class=\"_ _2\"></span>50<span class=\"_ _2\"></span>0 mill<span class=\"_ _2\"></span>ion bo<span class=\"_ _2\"></span>nd is<span class=\"_ _2\"></span>sued i<span class=\"_ _2\"></span>n Apr<span class=\"_ _2\"></span>il 2021 ma<span class=\"_ _2\"></span>tured<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d a \u00a3400<span class=\"_ gsbf\"> </span>m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd, mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Oc<span class=\"_ _2\"></span>tob<span class=\"_ _2\"></span>er 2028, a<span class=\"_ _2\"></span>nd a \u00a350<span class=\"_ _2\"></span>0<span class=\"_ gsbf\"> </span>mil<span class=\"_ _2\"></span>lion f<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>xed rat<span class=\"_ _2\"></span>e bond<span class=\"_ _2\"></span>, matu<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g in S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2032, u<span class=\"_ _2\"></span>nde<span class=\"_ _2\"></span>r the E<span class=\"_ _2\"></span>MTN<span class=\"_ _2\"></span>. On t<span class=\"_ _2\"></span>he sam<span class=\"_ _2\"></span>e day, the G<span class=\"_ _2\"></span>roup<span class=\"_ _2\"></span> ent<span class=\"_ _2\"></span>ered in<span class=\"_ _2\"></span>to a ser<span class=\"_ _2\"></span>ies of G<span class=\"_ _2\"></span>BP i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st ra<span class=\"_ _2\"></span>te swa<span class=\"_ _2\"></span>ps to sw<span class=\"_ _2\"></span>ap th<span class=\"_ _2\"></span>e fi<span class=\"_ _2\"></span>xed intere<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligations on the two bonds<span class=\"_ _0\"></span> to floating obligations. The bonds and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st r<span class=\"_ _2\"></span>ate sw<span class=\"_ _2\"></span>aps hav<span class=\"_ _2\"></span>e been d<span class=\"_ _2\"></span>esig<span class=\"_ _2\"></span>nate<span class=\"_ _2\"></span>d as hed<span class=\"_ _2\"></span>ged i<span class=\"_ _2\"></span>tems a<span class=\"_ _2\"></span>nd hedging instr<span class=\"_ _2\"></span>uments respecti<span class=\"_ _2\"></span>vely i<span class=\"_ _0\"></span>n a fair value<span class=\"_ _0\"></span> hedge relationship (see no<span class=\"_ _2\"></span>te 17<span class=\"_ _3\"></span>.4<span class=\"_ _2\"></span>c).<span class=\"_ _314\"> </span><table class=\"s w6f5 h271\" id=\"_819ffd83-d639-49bc-9768-4a4c0f0516fd\"><tr><td></td><td></td><td></td><td class=\"t m0 xb19 h13 y234d ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td></td></tr><tr><td></td><td class=\"t m0 xb1a h13 y234e ff75 fs6 fc1 sc0 ls26 ws3\">Qu<span class=\"_ _2\"></span>oted p<span class=\"_ _2\"></span>rice<span class=\"_ _2\"></span>s in </td><td class=\"t m0 x8a0 h13 y234e ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td class=\"t m0 xb1b h13 y234e ff75 fs6 fc1 sc0 ls27 ws45\">unobservable </td><td></td></tr><tr><td></td><td class=\"t m0 x425 h13 y234f ff75 fs6 fc1 sc0 ls26 ws3\">ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve marke<span class=\"_ _2\"></span>ts </td><td class=\"t m0 x818 h13 y234f ff75 fs6 fc1 sc0 ls27 ws43\">observable inputs </td><td class=\"t m0 x819 h13 y234f ff75 fs6 fc1 sc0 lse5 ws125\">inputs<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xb1c h13 y2350 ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xb1d h13 y2350 ff75 fs6 fc1 sc0 ls5f wsbe\">(Level 2)<span class=\"_ _314\"> </span></td><td class=\"c n xb1e y2351 w6f6 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb1f y2351 w464 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2352 w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xb20 y2352 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb21 y2352 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb22 y2352 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb23 y2352 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w664 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xb24 y214f w6f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">8<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>847<span class=\"_ _314\"> </span></div></td><td class=\"c n xb25 y214f w6f9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">75<span class=\"_ _314\"> </span></div></td><td class=\"c n xb26 y214f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb27 y214f w6fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb0 wsdb\">8,<span class=\"_ _2\"></span>922<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w667 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Commercial paper<span class=\"_ _314\"> </span></div></td><td class=\"c n xb28 y2069 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb29 y2069 w6fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">1,846<span class=\"_ _314\"> </span></div></td><td class=\"c n xb2a y2069 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb2b y2069 w6fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">1,846<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during the year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><table class=\"s w6fc h272\" id=\"_21f700d2-4af9-4a53-836a-d7d5f6e6f414\"><tr><td></td><td></td><td></td><td class=\"t m0 xb2c hb y2353 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td></td></tr><tr><td></td><td class=\"t m0 x76c hb y2354 ff76 fs6 fc1 sc0 ls26 ws3\">Qu<span class=\"_ _2\"></span>oted p<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>es in </td><td class=\"t m0 xb2d hb y2354 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td class=\"t m0 xb2e hb y2354 ff76 fs6 fc1 sc0 ls27 ws45\">unobser<span class=\"_ _2\"></span>vable </td><td></td></tr><tr><td></td><td class=\"t m0 x2d2 hb y2355 ff76 fs6 fc1 sc0 ls27 ws43\">act<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> markets </td><td class=\"t m0 xb2f hb y2355 ff76 fs6 fc1 sc0 ls27 ws43\">obser<span class=\"_ _2\"></span>vable inputs </td><td class=\"t m0 x819 hb y2355 ff76 fs6 fc1 sc0 ls12 ws81\">input<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xb30 hb y2356 ff76 fs6 fc1 sc0 lsf1 wscc\">(Le<span class=\"_ _0\"></span>vel<span class=\"_ _0\"></span> 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xb31 hb y2356 ff76 fs6 fc1 sc0 ls109 ws110\">(Lev<span class=\"_ _2\"></span>el 2)<span class=\"_ _314\"> </span></td><td class=\"c n xb32 y2357 w6fd h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb33 y2357 w6fe h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2358 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xb34 y2358 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb35 y2358 w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb36 y2358 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb37 y2358 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w664 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xb38 y22e4 w1c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xb39 y22e4 w93 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">78<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3a y22e4 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3b y22e4 w700 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>7<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2359 ff76 fs129 fc1 sc0 ls6c ws7e\">Commercial paper<span class=\"_ _314\"> </span></td><td class=\"c n xb3c y235a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3d y235a w701 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">1,040<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3e y235a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3f y235a w702 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">1,040<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during 202<span class=\"_ _0\"></span>4.<span class=\"_ _314\"> </span>The carr<span class=\"_ _2\"></span>ying amounts of the Group<span class=\"_ _0\"></span>\u2019s borrowings, e<span class=\"_ _0\"></span>xcluding lease liabilities, are<span class=\"_ _0\"></span> denominated in the f<span class=\"_ _0\"></span>ollowing currencies:<span class=\"_ _314\"> </span><table class=\"s w703 h273\" id=\"_e7424f0b-5e31-447f-9e51-3d818439571b\"><tr><td></td><td></td><td class=\"c n xb40 y235b w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td></td><td></td><td class=\"c n xb41 y235b w4f1 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c n x8a4 y235c w1d9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls4 ws3\">Drawn<span class=\"_ _314\"> </span></div></td><td class=\"c xb43 y235c w704 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls77 wsa0\">Swa<span class=\"_ _0\"></span>pped</div><div class=\"t m0 xb42 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xb44 y22cf w705 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls94 wsc1\">Ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>tive<span class=\"_ _314\"> </span></div></td><td class=\"c n xb45 y22cf w217 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls7f wsac\">Drawn<span class=\"_ _314\"> </span></div></td><td class=\"c xb47 y22cf w706 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsb6 wse5\">Swapped</div><div class=\"t m0 xb46 h199 y2120 ff76 fs12b fc1 sc0 ls4 ws3\">1</div></td><td class=\"t m0 xb48 hb y235d ff76 fs6 fc1 sc0 lsf1 ws5e\">Effective<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y22d1 w707 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">Currenc<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></div></td><td class=\"c n xb49 y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4a y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4b y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4c y22d1 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4d y22d1 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4e y22d1 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w708 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">Sterling<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4f y22d9 w33 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">1<span class=\"_ _2\"></span>,454<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fd y22d9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb50 y22d9 w33 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">1,<span class=\"_ _2\"></span>454<span class=\"_ _314\"> </span></div></td><td class=\"c n xb51 y22d9 w709 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">566<span class=\"_ _314\"> </span></div></td><td class=\"c n xb52 y22d9 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d1 y22d9 w709 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">566<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w70a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">Euro<span class=\"_ _314\"> </span></div></td><td class=\"c n xb53 y2297 w70b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">4,678<span class=\"_ _314\"> </span></div></td><td class=\"c n xb54 y2297 w70c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6e ws98\">(1,<span class=\"_ _2\"></span>277<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb55 y2297 w70d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsac wsd7\">3,401<span class=\"_ _314\"> </span></div></td><td class=\"c n xb56 y2297 w70e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">3<span class=\"_ _2\"></span>,968<span class=\"_ _314\"> </span></div></td><td class=\"c n xb57 y2297 w70f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>1,<span class=\"_ _2\"></span>376<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb58 y2297 w710 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">2,592<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w711 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">US dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xb59 y2288 w5e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">4,630<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5a y2288 w712 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6e ws98\">1,<span class=\"_ _2\"></span>277<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5b y2288 w713 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">5,9<span class=\"_ _2\"></span>07<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5c y2288 w714 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">4<span class=\"_ _2\"></span>,797<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5d y2288 w715 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>376<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5e y2288 w716 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">6,1<span class=\"_ _2\"></span>73<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w717 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other currencies<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5f y228f w718 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">329<span class=\"_ _314\"> </span></div></td><td class=\"c n xb60 y228f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb61 y228f w719 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">329<span class=\"_ _314\"> </span></div></td><td class=\"c n xb62 y228f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb63 y228f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb64 y228f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w6f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> excluding lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb65 y2069 w672 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">11<span class=\"_ _2\"></span>,091<span class=\"_ _314\"> </span></div></td><td class=\"c n xb66 y2069 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb67 y2069 w6f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">11<span class=\"_ _2\"></span>,091<span class=\"_ _314\"> </span></div></td><td class=\"c n xb68 y235e w11d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">9,3<span class=\"_ _2\"></span>31<span class=\"_ _314\"> </span></div></td><td class=\"c n xb69 y235e w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6a y235e w11d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">9,<span class=\"_ _2\"></span>331<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>Eu<span class=\"_ _2\"></span>ro bo<span class=\"_ _2\"></span>rro<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>gs ha<span class=\"_ _2\"></span>ve be<span class=\"_ _2\"></span>en sw<span class=\"_ _2\"></span>app<span class=\"_ _2\"></span>ed to U<span class=\"_ _2\"></span>S dol<span class=\"_ _2\"></span>lar b<span class=\"_ _2\"></span>orr<span class=\"_ _2\"></span>owi<span class=\"_ _2\"></span>ngs by e<span class=\"_ _2\"></span>nte<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g int<span class=\"_ _2\"></span>o cros<span class=\"_ _2\"></span>s-<span class=\"_ _2\"></span>cu<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>ncy i<span class=\"_ _2\"></span>nte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps.<span class=\"_ _314\"> </span>In N<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ber 2025, t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up is<span class=\"_ _2\"></span>sued a \u20ac<span class=\"_ _2\"></span>50<span class=\"_ _2\"></span>0 milli<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd under the EMTN, maturing in November<span class=\"_ _0\"></span> 2031.<span class=\"_ _314\"> </span>Other Group facilities<span class=\"_ _314\"> </span>In accordanc<span class=\"_ _0\"></span>e with the Commit<span class=\"_ _2\"></span>tee on Payments and Market<span class=\"_ _0\"></span> Infras<span class=\"_ _2\"></span>truc<span class=\"_ _2\"></span>tures,<span class=\"_ _0\"></span> t<span class=\"_ _2\"></span>he<span class=\"_ _0\"></span> Internat<span class=\"_ _2\"></span>ional Organi<span class=\"_ _0\"></span>zation of Securit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> Commi<span class=\"_ _2\"></span>ssions and the Principles for<span class=\"_ _0\"></span> Financial Market<span class=\"_ _0\"></span> Infr<span class=\"_ _2\"></span>astruc<span class=\"_ _2\"></span>tures, man<span class=\"_ _0\"></span>y central banks allow C<span class=\"_ _0\"></span>CP<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to apply for ac<span class=\"_ _0\"></span>cess to certain central bank facilities. In a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n, a num<span class=\"_ _2\"></span>ber of G<span class=\"_ _2\"></span>roup e<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es have a<span class=\"_ _2\"></span>ccess to u<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>mit<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d operational, money market<span class=\"_ _0\"></span> and overdraft facilities which suppor<span class=\"_ _2\"></span>t post trade act<span class=\"_ _2\"></span>ivities and day-to-<span class=\"_ _2\"></span>day liquidity requirements. The Group<span class=\"_ _0\"></span> drew down against these facilities during the year and<span class=\"_ _0\"></span> these were fully rep<span class=\"_ _2\"></span>aid as a<span class=\"_ _2\"></span>t 31 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 2025.<span class=\"_ _314\"> </span>Fair values<span class=\"_ _314\"> </span>Al<span class=\"_ _2\"></span>l the G<span class=\"_ _2\"></span>roup\u2019s bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s are reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed at a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed co<span class=\"_ _2\"></span>st o<span class=\"_ _2\"></span>n the balance sheet, ex<span class=\"_ _0\"></span>cept where<span class=\"_ _0\"></span> the borrowing has been designated<span class=\"_ _0\"></span> as a hedged item in a<span class=\"_ _0\"></span> fair value hedge r<span class=\"_ _0\"></span>elationship. In some cases, amort<span class=\"_ _2\"></span>ised cos<span class=\"_ _2\"></span>t may d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>fer fr<span class=\"_ _2\"></span>om the<span class=\"_ _2\"></span>ir fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue.<span class=\"_ _314\"> </span>The following tables<span class=\"_ _0\"></span> provide the fair value measur<span class=\"_ _0\"></span>ement hierarchy (se<span class=\"_ _2\"></span>e def<span class=\"_ _2\"></span>ini<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n in note 1<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>) of the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s b<span class=\"_ _2\"></span>orrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, exclu<span class=\"_ _2\"></span>din<span class=\"_ _2\"></span>g lease liabilities:<span class=\"_ _314\"> </span>16.<span class=\"_ _2\"></span>2 L<span class=\"_ _0\"></span>ease liabilities<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>roup le<span class=\"_ _2\"></span>ases as<span class=\"_ _2\"></span>sets fr<span class=\"_ _2\"></span>om oth<span class=\"_ _2\"></span>er par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ies (th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p is a lesse<span class=\"_ _2\"></span>e) and a<span class=\"_ _2\"></span>lso lea<span class=\"_ _2\"></span>ses asset<span class=\"_ _2\"></span>s to oth<span class=\"_ _2\"></span>er par<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ies (t<span class=\"_ _2\"></span>he Grou<span class=\"_ _2\"></span>p is a less<span class=\"_ _2\"></span>or). This n<span class=\"_ _2\"></span>ote descr<span class=\"_ _2\"></span>ibes h<span class=\"_ _2\"></span>ow the G<span class=\"_ _2\"></span>roup ac<span class=\"_ _2\"></span>count<span class=\"_ _2\"></span>s for lea<span class=\"_ _2\"></span>ses and p<span class=\"_ _2\"></span>rovide<span class=\"_ _2\"></span>s details<span class=\"_ _0\"></span> about its lease arra<span class=\"_ _0\"></span>ngements.<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>Group as lessee<span class=\"_ _314\"> </span>When the Group leases an<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> at the lease commencement date a r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sset i<span class=\"_ _2\"></span>s recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d for t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>sed i<span class=\"_ _2\"></span>tem (se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>0) a<span class=\"_ _2\"></span>nd a lea<span class=\"_ _2\"></span>se lia<span class=\"_ _2\"></span>bili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for a<span class=\"_ _2\"></span>ny lea<span class=\"_ _2\"></span>se pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to be p<span class=\"_ _2\"></span>aid ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ease te<span class=\"_ _2\"></span>rm.<span class=\"_ _314\"> </span>L<span class=\"_ _0\"></span>ease liabilities<span class=\"_ _314\"> </span>Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are recognised at<span class=\"_ _0\"></span> the net present value<span class=\"_ _0\"></span> of the rema<span class=\"_ _2\"></span>inin<span class=\"_ _2\"></span>g fu<span class=\"_ _2\"></span>ture pa<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nts t<span class=\"_ _2\"></span>o be mad<span class=\"_ _2\"></span>e over t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>se ter<span class=\"_ _2\"></span>m.<span class=\"_ _314\"> </span>The net pr<span class=\"_ _0\"></span>esent value is det<span class=\"_ _0\"></span>ermined using a discount<span class=\"_ _0\"></span> rate equivalent to the incremental<span class=\"_ _0\"></span> borrowing rate of the leasing<span class=\"_ _0\"></span> entit<span class=\"_ _2\"></span>y unless there<span class=\"_ _0\"></span> is a rate implicit within the lease<span class=\"_ _0\"></span> agreement<span class=\"_ _2\"></span>. Subsequentl<span class=\"_ _2\"></span>y<span class=\"_ _3\"></span>, the amount of lease liabilities is<span class=\"_ _0\"></span> increased to ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he acc<span class=\"_ _2\"></span>retio<span class=\"_ _2\"></span>n of inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t and red<span class=\"_ _2\"></span>uced fo<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ease<span class=\"_ _2\"></span> payments made.<span class=\"_ _314\"> </span>The Group leases<span class=\"_ _0\"></span> many proper<span class=\"_ _2\"></span>ties ar<span class=\"_ _0\"></span>ound the world and lease ter<span class=\"_ _2\"></span>ms var<span class=\"_ _2\"></span>y f<span class=\"_ _2\"></span>rom mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>ly up t<span class=\"_ _2\"></span>o 15 year<span class=\"_ _2\"></span>s. M<span class=\"_ _2\"></span>any of t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e leas<span class=\"_ _2\"></span>es contain option clauses t<span class=\"_ _0\"></span>o extend the lease or br<span class=\"_ _0\"></span>eak clauses to terminate<span class=\"_ _0\"></span> the lease. The lease t<span class=\"_ _0\"></span>erm recognised is the<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span>ca<span class=\"_ _2\"></span>ncell<span class=\"_ _2\"></span>able p<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>od of t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>se plu<span class=\"_ _2\"></span>s any pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>ds for w<span class=\"_ _2\"></span>hich t<span class=\"_ _2\"></span>he Group is r<span class=\"_ _0\"></span>easonably cer<span class=\"_ _2\"></span>tain of<span class=\"_ _0\"></span> exercising<span class=\"_ _0\"></span> any extension options. The Group values<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s right-of-<span class=\"_ _2\"></span>use assets and lease<span class=\"_ _0\"></span> liabilities based on its intentions at the balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> Any change in these intentions is<span class=\"_ _0\"></span> accounted<span class=\"_ _0\"></span> for as<span class=\"_ _0\"></span> a lease modification and the asse<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s and liabilities are<span class=\"_ _0\"></span> amended accordingly<span class=\"_ _0\"></span>. Any resulting effec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> on th<span class=\"_ _2\"></span>e net as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p woul<span class=\"_ _2\"></span>d not b<span class=\"_ _2\"></span>e signi<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ican<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span>V<span class=\"_ _0\"></span>ariable lease payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> based on an index<span class=\"_ _0\"></span> are estimated at the commencement dat<span class=\"_ _0\"></span>e and revalued<span class=\"_ _0\"></span> on an annual basis.<span class=\"_ _314\"> </span>Leas<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s du<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>hin 12 m<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>hs are c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s curr<span class=\"_ _2\"></span>ent liabilities. Payment<span class=\"_ _2\"></span>s due<span class=\"_ _0\"></span> af<span class=\"_ _2\"></span>ter 1<span class=\"_ _0\"></span>2 months are classified as non-<span class=\"_ _2\"></span>current liabilities.<span class=\"_ _314\"> </span>Sho<span class=\"_ _2\"></span>rt-<span class=\"_ _2\"></span>term l<span class=\"_ _2\"></span>eases an<span class=\"_ _2\"></span>d lease<span class=\"_ _2\"></span>s of low val<span class=\"_ _2\"></span>ue asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Ren<span class=\"_ _2\"></span>tal co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s for le<span class=\"_ _2\"></span>ased a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>hat are fo<span class=\"_ _2\"></span>r les<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>n 12 mon<span class=\"_ _2\"></span>ths or ar<span class=\"_ _2\"></span>e for ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>h an in<span class=\"_ _2\"></span>div<span class=\"_ _2\"></span>idu<span class=\"_ _2\"></span>al val<span class=\"_ _2\"></span>ue of le<span class=\"_ _2\"></span>ss th<span class=\"_ _2\"></span>an \u00a35<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 are recognised directly in the income statement on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line bas<span class=\"_ _2\"></span>is over t<span class=\"_ _2\"></span>he li<span class=\"_ _2\"></span>fe of th<span class=\"_ _2\"></span>e leas<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span>Group as lessor<span class=\"_ _314\"> </span>Finance leases<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let<span class=\"_ _2\"></span>s a prop<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>t for sub<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ant<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y all t<span class=\"_ _2\"></span>he use<span class=\"_ _2\"></span>ful li<span class=\"_ _2\"></span>fe of th<span class=\"_ _2\"></span>at ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, thi<span class=\"_ _2\"></span>s is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed as a finance lease. On<span class=\"_ _0\"></span> commencement of a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> sub<span class=\"_ _2\"></span>-lease, the pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y ri<span class=\"_ _2\"></span>ght-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _2\"></span>se ass<span class=\"_ _2\"></span>et is t<span class=\"_ _2\"></span>reated a<span class=\"_ _2\"></span>s dis<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d of and a n<span class=\"_ _2\"></span>et investment in lease, equivalent to<span class=\"_ _0\"></span> the net present value<span class=\"_ _0\"></span> of the fu<span class=\"_ _2\"></span>ture re<span class=\"_ _2\"></span>nt rece<span class=\"_ _2\"></span>ipt<span class=\"_ _2\"></span>s, is re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as a rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble on t<span class=\"_ _2\"></span>he ba<span class=\"_ _2\"></span>lance<span class=\"_ _2\"></span> she<span class=\"_ _2\"></span>et (se<span class=\"_ _2\"></span>e note 13<span class=\"_ _2\"></span>). Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>e val<span class=\"_ _2\"></span>ue of th<span class=\"_ _2\"></span>e recei<span class=\"_ _2\"></span>pt<span class=\"_ _2\"></span>s from t<span class=\"_ _2\"></span>he sub-<span class=\"_ _2\"></span>lease is<span class=\"_ _0\"></span> lower than the amount payable on<span class=\"_ _0\"></span> the head-<span class=\"_ _2\"></span>lease, we rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>se a los<span class=\"_ _2\"></span>s on di<span class=\"_ _2\"></span>spos<span class=\"_ _2\"></span>al of t<span class=\"_ _2\"></span>he rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-us<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et in th<span class=\"_ _2\"></span>e income statement<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>Ope<span class=\"_ _2\"></span>rating leases<span class=\"_ _314\"> </span>A ri<span class=\"_ _2\"></span>ght-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _2\"></span>se ass<span class=\"_ _2\"></span>et tha<span class=\"_ _2\"></span>t is sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let fo<span class=\"_ _2\"></span>r les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d usef<span class=\"_ _2\"></span>ul li<span class=\"_ _2\"></span>fe is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed as a<span class=\"_ _2\"></span>n oper<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng lea<span class=\"_ _2\"></span>se and r<span class=\"_ _2\"></span>enta<span class=\"_ _2\"></span>l inco<span class=\"_ _2\"></span>me is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed as re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>ved in ot<span class=\"_ _2\"></span>her i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e. We cont<span class=\"_ _2\"></span>inue t<span class=\"_ _2\"></span>o recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span> the proper<span class=\"_ _2\"></span>ty right-<span class=\"_ _2\"></span>of-use asset on<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span><table class=\"s w339 h275\" id=\"_7e0cf26f-556b-4b91-87ff-694ef5a48da8\"><tr><td></td><td></td><td class=\"t m0 xb80 hb y2362 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _81\"> </span><span class=\"ff76 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></span></td></tr><tr><td></td><td class=\"c n x4ec y2291 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y2291 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w727 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current lease<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb81 y2288 w225 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">502<span class=\"_ _314\"> </span></div></td><td class=\"c n xb82 y2288 w4f7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">494<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w728 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Current lease<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb83 y228f w729 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">125<span class=\"_ _314\"> </span></div></td><td class=\"c n xa19 y228f w66b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">140<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w72a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal lease<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb84 y2069 wa8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">627<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xb7f h193 y2363 ff76 fs129 fc1 sc0 ls8 ws5\">634<span class=\"_ _314\"> </span></td></tr></table>Movements in lease liabilities during the y<span class=\"_ _0\"></span>ear are as<span class=\"_ _0\"></span> follows:<span class=\"_ _314\"> </span><table class=\"s w71a h274\" id=\"_e943338e-c71e-4da5-b079-44a41bca6625\"><tr><td></td><td></td><td class=\"c n x4e9 y235f w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y235f w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5e0 y2360 w33 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e1 y2360 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5e2 y2360 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234a w342 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x5fa y234a w18e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">634<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6b y234a w71b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsab wsd4\">636<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d6 w71c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Leases<span class=\"_ _0\"></span> terminated early<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb6c y22d6 w680 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6d y22d6 w40d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234b w71d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">New lease<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6e y234b w3bb h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6f y234b wf6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">114<span class=\"_ _314\"> </span></div></td><td class=\"c n xb70 y234b w71e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">81<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a3 w535 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Lease<span class=\"_ _0\"></span> modif<span class=\"_ _2\"></span>ications<span class=\"_ _314\"> </span></div></td><td class=\"c n xb71 y22a3 wb8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n xb72 y22a3 w1a8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6f ws99\">59<span class=\"_ _314\"> </span></div></td><td class=\"c n xb73 y22a3 w187 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsab wsd4\">72<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w71f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease int<span class=\"_ _0\"></span>erest expense<span class=\"_ _314\"> </span></div></td><td class=\"c n xb74 y22d9 w44 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">5.1<span class=\"_ _314\"> </span></div></td><td class=\"c n xb75 y22d9 w720 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n xb76 y22d9 w14a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">20<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w721 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease payments \u2013 principal<span class=\"_ _314\"> </span></div></td><td class=\"c n xb77 y2297 w1df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>6.4<span class=\"_ _314\"> </span></div></td><td class=\"c n xb78 y2297 w722 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">(1<span class=\"_ _2\"></span>61)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb79 y2297 w723 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(156)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w724 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Lea<span class=\"_ _2\"></span>se pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts \u2013 i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb7a y2288 w136 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb7b y2288 w725 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(20<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w349 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange translation<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb7c y228f w54a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>8)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb7d y228f w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb7e y2069 w726 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">627<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xb7f h193 y2361 ff76 fs129 fc1 sc0 ls8 ws5\">634<span class=\"_ _314\"> </span></td></tr></table>The maturit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> of the Group\u2019<span class=\"_ _0\"></span>s lease commitments is disclosed within the risk management not<span class=\"_ _0\"></span>e (see note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.5). The pot<span class=\"_ _0\"></span>ential future lease payment<span class=\"_ _2\"></span>s, should<span class=\"_ _0\"></span> the Group exer<span class=\"_ _0\"></span>cise extension and termination options, would result in<span class=\"_ _0\"></span> an increase in<span class=\"_ _0\"></span> right-<span class=\"_ _2\"></span>of-use assets and lease liabilities of up t<span class=\"_ _0\"></span>o \u00a3272 million.<span class=\"_ _314\"> </span>The w<span class=\"_ _2\"></span>eigh<span class=\"_ _2\"></span>ted ave<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>e disco<span class=\"_ _2\"></span>unt r<span class=\"_ _2\"></span>ate use<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p for le<span class=\"_ _2\"></span>ase lia<span class=\"_ _2\"></span>bili<span class=\"_ _2\"></span>tie<span class=\"_ _2\"></span>s was 3<span class=\"_ _2\"></span>.5% (2024: 3.<span class=\"_ _2\"></span>3%)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>A limited number<span class=\"_ _0\"></span> of the Group\u2019<span class=\"_ _0\"></span>s leases ar<span class=\"_ _0\"></span>e subject to variable lease payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> linked to<span class=\"_ _0\"></span> publicly available indexes. A<span class=\"_ _0\"></span>djus<span class=\"_ _2\"></span>tments to the value of the lease<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> and associated assets are made<span class=\"_ _0\"></span> annually,<span class=\"_ _0\"></span> but do not h<span class=\"_ _2\"></span>ave a mate<span class=\"_ _2\"></span>rial i<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>n the G<span class=\"_ _2\"></span>roup\u2019s net a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>17<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>2 Financial<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span><table class=\"s w799 h27a\" id=\"_1cb6eb71-59fc-4208-8a9e-fed23ec2a909\"><tr><td></td><td class=\"c n xc71 y237d w75e h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls27 ws43\">Amortised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n xc72 y237d w3a3 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls110 ws183\">F<span class=\"_ _2\"></span>VPL<span class=\"_ _314\"> </span></div></td><td class=\"c n xc73 y237d w464 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y236e w6f7 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xc74 y236e w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc75 y236e w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc76 y236e w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237e ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial liabilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2186 w79a h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member trading li<span class=\"_ _0\"></span>abilities<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc77 y2186 w6a h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc78 y2186 w79b h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,4<span class=\"_ _2\"></span>58<span class=\"_ _314\"> </span></div></td><td class=\"c n xc79 y2186 w762 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w79c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther pa<span class=\"_ _0\"></span>yables to clearing members<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc7a y2187 w79d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">94,986<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7b y2187 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7c y2187 w79d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">94,986<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2188 w79e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> clearing member financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7d y2188 w79d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">94,986<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7e y2188 w79b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,4<span class=\"_ _2\"></span>58<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7f y2188 w79f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsee ws55\">757<span class=\"_ _3\"></span>,444<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y218a w7a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Payables</div><div class=\"t m0 x435 h194 y20bd ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xc80 y2189 w7a1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb0 wsdb\">2<span class=\"_ _2\"></span>,779<span class=\"_ _314\"> </span></div></td><td class=\"c n xc81 y2189 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc82 y2189 w7a1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb0 wsdb\">2,7<span class=\"_ _2\"></span>79<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y218b wed h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Borrowings and<span class=\"_ _0\"></span> lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xc83 y218b w75c h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">11<span class=\"_ _2\"></span>,71<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc84 y218b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc85 y218b w75c h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">11<span class=\"_ _2\"></span>,71<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237f ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218d w778 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x822 y218d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc86 y218d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x82c y218d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2380 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213d w77a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc87 y213d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc88 y213d w56 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n xc89 y213d w56 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w77b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc8a y20d9 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x287 y20d9 w4e7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8b y20d9 w4e7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y20da w77c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> deriv<span class=\"_ _2\"></span>ative financial instruments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8c y20da w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8d y20da w7a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8e y20da w7a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w7a3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8f y2069 w7a4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls58 wsb5\">109,<span class=\"_ _2\"></span>483<span class=\"_ _314\"> </span></div></td><td class=\"c n xc90 y2069 w7a5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,48<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xc91 y2069 w7a6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">771<span class=\"_ _2\"></span>,966<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>Social security and other taxes<span class=\"_ _0\"></span> payable of \u00a314<span class=\"_ _0\"></span>7 million and<span class=\"_ _0\"></span> deferred compensation<span class=\"_ _0\"></span> of \u00a310 million within payables<span class=\"_ _0\"></span> are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> financial instrumen<span class=\"_ _2\"></span>ts.<span class=\"_ _314\"> </span><table class=\"s w7a7 h27b\" id=\"_a68865a6-aa17-498f-be88-75727561576e\"><tr><td></td><td class=\"c n xc92 y2381 w783 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls27 ws43\">Amor<span class=\"_ _2\"></span>tised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n xc93 y2381 w785 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls7a wsbe\">F<span class=\"_ _2\"></span>VPL<span class=\"_ _314\"> </span></div></td><td class=\"c n xc94 y2381 w7a8 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2382 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xc95 y2382 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc96 y2382 w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc97 y2382 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2383 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial liabilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y205d w79a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member trading li<span class=\"_ _0\"></span>abilities<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc77 y205d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc98 y205d w7a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594,555<span class=\"_ _314\"> </span></div></td><td class=\"c n xc99 y205d w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594<span class=\"_ _2\"></span>,555<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y205e w79c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther pa<span class=\"_ _0\"></span>yables to clearing members<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc9a y205e w7aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">98<span class=\"_ _2\"></span>,085<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4a y205e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9b y205e w7aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">9<span class=\"_ _2\"></span>8,085<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2070 w79e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> clearing member financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9c y2070 w7aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">9<span class=\"_ _2\"></span>8,085<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9d y2070 w7ab h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594,<span class=\"_ _2\"></span>555<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9e y2070 w7ac h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">692,6<span class=\"_ _2\"></span>40<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y225d w7a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Payables</div><div class=\"t m0 x435 h194 y2242 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9f y225d w7ad h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">2,<span class=\"_ _2\"></span>261<span class=\"_ _314\"> </span></div></td><td class=\"c n xca0 y225d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca1 y225d w7ae h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">2<span class=\"_ _2\"></span>,261<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2061 wed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Borrowings and<span class=\"_ _0\"></span> lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xca2 y2061 w670 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">9,9<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td><td class=\"c n xca3 y2061 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca4 y2061 w670 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">9,9<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2384 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2063 w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x822 y2063 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x2f3 y2063 w6e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n xca5 y2063 w7af h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2385 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2073 w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc8a y2073 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca6 y2073 w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xca7 y2073 w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2386 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2066 w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x822 y2066 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca8 y2066 w7b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></div></td><td class=\"c n x29d y2066 w7b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc87 y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca9 y214c w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xcaa y214c w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2075 w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc8a y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x287 y2075 w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xcab y2075 w7b1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2068 w77c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> deriv<span class=\"_ _2\"></span>ative financial instruments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8c y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcac y2068 w414 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls10d ws181\">77<span class=\"_ _314\"> </span></div></td><td class=\"c n xcad y2068 w414 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls10d ws181\">77<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w7a3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xcae y2069 w7b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">110,311<span class=\"_ _314\"> </span></div></td><td class=\"c n xcaf y2069 w7b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">594<span class=\"_ _2\"></span>,63<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xcb0 y2069 w7b4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">704,<span class=\"_ _0\"></span>943<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>Social security and other taxes<span class=\"_ _0\"></span> payable of \u00a314<span class=\"_ _0\"></span>1 million and<span class=\"_ _0\"></span> deferred compensation o<span class=\"_ _0\"></span>f \u00a37 million within payables<span class=\"_ _0\"></span> are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> financial instrument<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-563": {
   "value": "16.<span class=\"_ _0\"></span>1 Borrowings  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span>Bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ings a<span class=\"_ _2\"></span>re ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e fair v<span class=\"_ _2\"></span>alu<span class=\"_ _2\"></span>e of amou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s received, net<span class=\"_ _0\"></span> of capitalised direc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> issue cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> arrangement fees (including upfr<span class=\"_ _0\"></span>ont facilit<span class=\"_ _2\"></span>y fees<span class=\"_ _0\"></span>). Subsequentl<span class=\"_ _2\"></span>y<span class=\"_ _3\"></span>, these liabilities are carried at amort<span class=\"_ _2\"></span>ised c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t. In<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t pay<span class=\"_ _2\"></span>able o<span class=\"_ _2\"></span>n bor<span class=\"_ _2\"></span>rowin<span class=\"_ _2\"></span>gs, d<span class=\"_ _2\"></span>irec<span class=\"_ _2\"></span>t is<span class=\"_ _2\"></span>sue co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s and<span class=\"_ _2\"></span> arrangement fees (including upfront<span class=\"_ _0\"></span> facilit<span class=\"_ _2\"></span>y fees<span class=\"_ _0\"></span>) are r<span class=\"_ _0\"></span>ecognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> over the period of<span class=\"_ _0\"></span> the borrowings using the effec<span class=\"_ _2\"></span>tive interest method.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ings a<span class=\"_ _2\"></span>re iden<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed as a he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item i<span class=\"_ _2\"></span>n a desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d fair value hedge r<span class=\"_ _0\"></span>elationship, fair value adjustments are recognised in<span class=\"_ _0\"></span> accordance with our policy (see not<span class=\"_ _0\"></span>e 17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>The Group<span class=\"_ _3\"></span>\u2019s sourc<span class=\"_ _0\"></span>es of borro<span class=\"_ _0\"></span>wing for funding<span class=\"_ _0\"></span> and liquidity purposes<span class=\"_ _314\"> </span>inc<span class=\"_ _2\"></span>lude a ra<span class=\"_ _2\"></span>nge of com<span class=\"_ _2\"></span>mit<span class=\"_ _2\"></span>ted ba<span class=\"_ _2\"></span>nk faci<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies and l<span class=\"_ _2\"></span>ong-<span class=\"_ _2\"></span>term a<span class=\"_ _2\"></span>nd<span class=\"_ _314\"> </span>short-term issuanc<span class=\"_ _0\"></span>es in the c<span class=\"_ _0\"></span>apital marke<span class=\"_ _0\"></span>ts including comm<span class=\"_ _0\"></span>ercial paper<span class=\"_ _314\"> </span>and b<span class=\"_ _2\"></span>onds<span class=\"_ _2\"></span>. Liabi<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies ari<span class=\"_ _2\"></span>sing fr<span class=\"_ _2\"></span>om the G<span class=\"_ _2\"></span>roup\u2019s lease a<span class=\"_ _2\"></span>rrang<span class=\"_ _2\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>are al<span class=\"_ _2\"></span>so repo<span class=\"_ _2\"></span>rte<span class=\"_ _2\"></span>d in bor<span class=\"_ _2\"></span>rowin<span class=\"_ _2\"></span>gs. N<span class=\"_ _2\"></span>et debt c<span class=\"_ _2\"></span>ompri<span class=\"_ _2\"></span>ses cash a<span class=\"_ _2\"></span>nd cash<span class=\"_ _314\"> </span>equ<span class=\"_ _2\"></span>ival<span class=\"_ _2\"></span>ents le<span class=\"_ _2\"></span>ss lea<span class=\"_ _2\"></span>se liab<span class=\"_ _2\"></span>ilit<span class=\"_ _2\"></span>ies and b<span class=\"_ _2\"></span>orrow<span class=\"_ _2\"></span>ings<span class=\"_ _2\"></span>, adj<span class=\"_ _2\"></span>usted fo<span class=\"_ _2\"></span>r deri<span class=\"_ _2\"></span>vat<span class=\"_ _2\"></span>ive<span class=\"_ _314\"> </span>fina<span class=\"_ _2\"></span>ncial in<span class=\"_ _0\"></span>st<span class=\"_ _2\"></span>ruments.<span class=\"_ _314\"> </span>2025<span class=\"_ _314\"> </span>20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span>Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>\u00a3m<span class=\"_ _314\"> </span>Non<span class=\"_ _2\"></span>-current<span class=\"_ _1dc\"> </span><span class=\"ls4 ws3\"> <span class=\"_ _45\"> </span></span>Bank borrowings<span class=\"_ _0\"></span> \u2013 committed<span class=\"_ _314\"> </span>bank facilities1<span class=\"_ _314\"> </span>(1)<span class=\"_ _314\"> </span><span class=\"ff76 ls7b wse0\">(6<span class=\"_ _314\"> </span></span>Bonds<span class=\"_ _314\"> </span>7,<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span>7,<span class=\"_ _2\"></span>8<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span>Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span>5<span class=\"_ _2\"></span>02<span class=\"_ _314\"> </span>49<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span>8,<span class=\"_ _2\"></span>393<span class=\"_ _314\"> </span>8,<span class=\"_ _2\"></span>373<span class=\"_ _314\"> </span>Current<span class=\"_ _2a5\"> </span><span class=\"ls4 ws3\"> <span class=\"_ _d2\"> </span></span>Commercial paper<span class=\"_ _314\"> </span>1,<span class=\"_ _2\"></span>841<span class=\"_ _314\"> </span>1,037<span class=\"_ _314\"> </span>Bonds<span class=\"_ _314\"> </span>1,<span class=\"_ _2\"></span>359<span class=\"_ _314\"> </span>415<span class=\"_ _314\"> </span>Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span>125<span class=\"_ _314\"> </span>140<span class=\"_ _314\"> </span>3,<span class=\"_ _2\"></span>325<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>,592<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> and lease liabilities<span class=\"_ _314\"> </span>11,7<span class=\"_ _2\"></span>18<span class=\"_ _314\"> </span>9,9<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> borrowings ex<span class=\"_ _0\"></span>cluding<span class=\"_ _314\"> </span>lease liabilities<span class=\"_ _314\"> </span>1<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span>11,09<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span>9,<span class=\"_ _2\"></span>331<span class=\"_ _314\"> </span>Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span>16.2<span class=\"_ _314\"> </span>627<span class=\"_ _314\"> </span>634<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> and lease liabilities<span class=\"_ _314\"> </span>11,7<span class=\"_ _2\"></span>189,965<span class=\"_ _314\"> </span>1 <span class=\"_ _c\"> </span>Balances are<span class=\"_ _0\"></span> shown net<span class=\"_ _0\"></span> of capitalised arrangement fees. Where<span class=\"_ _0\"></span> there are<span class=\"_ _0\"></span> no amounts<span class=\"_ _314\"> </span>borrowed on<span class=\"_ _0\"></span> a particular facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, this gives<span class=\"_ _0\"></span> rise to a<span class=\"_ _0\"></span> negative balance.<span class=\"_ _314\"> </span>16<span class=\"_ _2\"></span>. Borrowings, lease<span class=\"_ _2\"></span> liabilities and net debt<span class=\"_ _314\"> </span>The Group has<span class=\"_ _0\"></span> the following committed bank facilities, commercial paper and<span class=\"_ _0\"></span> unsecured bonds:<span class=\"_ _314\"> </span><table class=\"s w675 h270\" id=\"_14f22488-74a9-4d2e-a64f-1d5f376a5332\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xa80 h13 y232b ff75 fs6 fc1 sc0 ls110 ws7\">Carr<span class=\"_ _2\"></span>ying value<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xa81 hb y232c ff76 fs6 fc1 sc0 ls12 ws81\">Maturit<span class=\"_ _2\"></span>y <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 x429 hb y232d ff76 fs6 fc1 sc0 ls27 ws45\">Facility/b<span class=\"_ _2\"></span>ond<span class=\"_ _314\"> </span></td><td class=\"c n xa82 y232e w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xa83 y232e w270 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n xa84 y232e w676 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9e ws45\">Inte<span class=\"_ _2\"></span>rest rate<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m0 xa85 hb y232f ff76 fs6 fc1 sc0 ls12 ws81\">date<span class=\"_ _314\"> </span></td><td class=\"c n xa86 y2330 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xa87 y2330 w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xa88 y2330 w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xa89 y2330 w4f3 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls4 ws3\">%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2331 ff75 fs129 fc1 sc0 ls6d wsd4\">Committed bank facilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y2332 w677 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Multi<span class=\"_ _2\"></span>-currency revolving credit facility</div><div class=\"t m0 xa8a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa8b y2332 w678 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">De<span class=\"_ _2\"></span>c 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xa8c y2332 w679 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">1<span class=\"_ _2\"></span>,9<span class=\"_ _2\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xa8d y2332 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xa8e y2332 w53c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c xa90 y2332 w67a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">s<span class=\"_ _2\"></span>ee no<span class=\"_ _2\"></span>te</div><div class=\"t m0 xa8f h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2333 w677 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Multi<span class=\"_ _2\"></span>-currency revolving credit facility</div><div class=\"t m0 xa8a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa8b y2333 w678 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">De<span class=\"_ _2\"></span>c 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xa91 y2333 w67b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb0 wsdb\">1<span class=\"_ _2\"></span>,075<span class=\"_ _314\"> </span></div></td><td class=\"c n xa92 y2333 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xa93 y2333 w53c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c xa95 y2333 w67c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">s<span class=\"_ _2\"></span>ee no<span class=\"_ _2\"></span>te</div><div class=\"t m0 xa94 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2334 w67d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span> mult<span class=\"_ _2\"></span>i-currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> revolving credit facility</div><div class=\"t m0 xa96 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xa8b y2334 w67e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsdc\">No<span class=\"_ _2\"></span>v 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xa97 y2334 w67f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">371<span class=\"_ _314\"> </span></div></td><td class=\"c n xa98 y2334 w680 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xa99 y2334 w34a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>2)<span class=\"_ _314\"> </span></div></td><td class=\"c xa9b y2334 w681 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">se<span class=\"_ _2\"></span>e note</div><div class=\"t m0 xa9a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"c n xa9c y2335 w682 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">3,<span class=\"_ _2\"></span>371<span class=\"_ _314\"> </span></div></td><td class=\"c n xa9d y2335 w680 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xa9e y2335 w683 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">(6)<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c n x1eb y2336 w684 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws5\">Commercial paper<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xa9f y2336 w685 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>,8<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa0 y2336 w686 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">1,037<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa1 y2336 w687 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 wsaf\">0.<span class=\"_ _2\"></span>502<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2337 ff75 fs129 fc1 sc0 ls6c ws96\">Bonds<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2338 w688 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued April 20<span class=\"_ _0\"></span>21<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaa2 y2338 w689 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsb5\">A<span class=\"_ _2\"></span>pr 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa3 y2338 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa4 y2338 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa5 y2338 w66a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">415<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa6 y2338 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws76\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2339 w68a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">$1<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>, iss<span class=\"_ _2\"></span>ued A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2021<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaa7 y2339 w68b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsdc\">Ap<span class=\"_ _2\"></span>r 2026<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa8 y2339 w68c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb4 wse2\">74<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xaa9 y2339 w68d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls78 wse4\">742<span class=\"_ _314\"> </span></div></td><td class=\"c n xaaa y2339 w68e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">798<span class=\"_ _314\"> </span></div></td><td class=\"c n xaab y2339 w68f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">1.<span class=\"_ _2\"></span>375<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233a w690 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac700 million<span class=\"_ _0\"></span> bond, issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>3<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaac y233a w691 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsdc\">S<span class=\"_ _2\"></span>ep 2026<span class=\"_ _314\"> </span></div></td><td class=\"c n xaad y233a w692 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls72 ws9b\">61<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xaae y233a w693 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xaaf y233a w694 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa2 wscd\">592<span class=\"_ _314\"> </span></div></td><td class=\"c n xab0 y233a w695 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">4<span class=\"_ _2\"></span>.125<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233b w696 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">$500 million<span class=\"_ _0\"></span> bond, issued March<span class=\"_ _0\"></span> 202<span class=\"_ _3\"></span>4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xab1 y233b w697 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">Ma<span class=\"_ _2\"></span>r 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xab2 y233b w67f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">371<span class=\"_ _314\"> </span></div></td><td class=\"c n xab3 y233b w698 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6a ws1\">370<span class=\"_ _314\"> </span></div></td><td class=\"c n xab4 y233b w13f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">397<span class=\"_ _314\"> </span></div></td><td class=\"c n xab5 y233b w699 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">4.875<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233c w69a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">\u20ac600 million bond, issued<span class=\"_ _0\"></span> September 20<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xab6 y233c w69b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">Se<span class=\"_ _2\"></span>p 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xab7 y233c wa3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb9 wse9\">524<span class=\"_ _314\"> </span></div></td><td class=\"c n xab8 y233c w5a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls71 ws9a\">521<span class=\"_ _314\"> </span></div></td><td class=\"c n xab9 y233c w69c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xaba y233c w69d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">2.75<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233d w69e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">$100 million bond,<span class=\"_ _0\"></span> issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xabb y233d w69b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">Se<span class=\"_ _2\"></span>p 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xabc y233d w69f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb4 wse2\">74<span class=\"_ _314\"> </span></div></td><td class=\"c n xabd y233d w6a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls78 wse4\">74<span class=\"_ _314\"> </span></div></td><td class=\"c n xabe y233d w6a1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls95 wsc2\">79<span class=\"_ _314\"> </span></div></td><td class=\"c n xabf y233d w6a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">4.000<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233e w6a3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued December 2<span class=\"_ _0\"></span>018<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xac0 y233e w6a4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 ws0\">D<span class=\"_ _2\"></span>ec 2027<span class=\"_ _314\"> </span></div></td><td class=\"c n xac1 y233e w6a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">43<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xac2 y233e w19a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">435<span class=\"_ _314\"> </span></div></td><td class=\"c n xac3 y233e w6a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">41<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xac4 y233e w6a7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>.750<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y233f w688 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued April 20<span class=\"_ _0\"></span>21<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaa2 y233f w6a8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsdc\">A<span class=\"_ _2\"></span>pr 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xac5 y233f w6a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">436<span class=\"_ _314\"> </span></div></td><td class=\"c n xac6 y233f w19a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">435<span class=\"_ _314\"> </span></div></td><td class=\"c n xac7 y233f w6aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">414<span class=\"_ _314\"> </span></div></td><td class=\"c n x2be y233f w6ab h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">0.<span class=\"_ _2\"></span>250<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2340 w68a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">$1<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>, iss<span class=\"_ _2\"></span>ued A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2021<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaa7 y2340 w6a8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsdc\">A<span class=\"_ _2\"></span>pr 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xac8 y2340 w68c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb4 wse2\">74<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xac9 y2340 w6ac h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls78 wse4\">741<span class=\"_ _314\"> </span></div></td><td class=\"c n xaca y2340 w6ad h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">797<span class=\"_ _314\"> </span></div></td><td class=\"c n xacb y2340 w6ae h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">2.<span class=\"_ _0\"></span>000<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2341 w6af h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a511,50<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span> million<span class=\"_ _314\"> </span></div></td><td class=\"c n xacc y2341 w6b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">bond, issued<span class=\"_ _0\"></span> April 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xacd y2341 w6b1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsdc\">Apr 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xace y2341 w6b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">55<span class=\"_ _314\"> </span></div></td><td class=\"c n xacf y2341 w6b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls88 wsb4\">54<span class=\"_ _314\"> </span></div></td><td class=\"c n xad0 y2341 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xad1 y2341 w6b4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>.493<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2342 w6b5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a3400 million<span class=\"_ _0\"></span> bond, issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xad2 y2342 w6b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsdc\">Oc<span class=\"_ _2\"></span>t 2028<span class=\"_ _314\"> </span></div></td><td class=\"c n xad3 y2342 w583 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">400<span class=\"_ _314\"> </span></div></td><td class=\"c n xad4 y2342 w6b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsac wsd7\">401<span class=\"_ _314\"> </span></div></td><td class=\"c n xad5 y2342 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xad6 y2342 w6b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">4.50<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2343 w6b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued September 2<span class=\"_ _0\"></span>017<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xad7 y2343 w6ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 ws0\">S<span class=\"_ _2\"></span>ep 2029<span class=\"_ _314\"> </span></div></td><td class=\"c n xad8 y2343 w46d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">436<span class=\"_ _314\"> </span></div></td><td class=\"c n xad9 y2343 w6bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">435<span class=\"_ _314\"> </span></div></td><td class=\"c n xada y2343 w6a6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">41<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xadb y2343 w6a7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>.750<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2344 w6bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a3500 million bond,<span class=\"_ _0\"></span> issued April 20<span class=\"_ _0\"></span>21<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xadc y2344 w6bd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">A<span class=\"_ _2\"></span>pr 203<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xadd y2344 w6be h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">500<span class=\"_ _314\"> </span></div></td><td class=\"c n xade y2344 w6bf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">496<span class=\"_ _314\"> </span></div></td><td class=\"c n xadf y2344 w386 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">49<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xae0 y2344 w679 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">1<span class=\"_ _2\"></span>.6<span class=\"_ _2\"></span>25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2345 w6c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a514,30<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span> million bond, issued<span class=\"_ _0\"></span> April 202<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xae1 y2345 w6c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ap<span class=\"_ _2\"></span>r 2030<span class=\"_ _314\"> </span></div></td><td class=\"c n xae2 y2345 w101 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xae3 y2345 w6c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xae4 y2345 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xae5 y2345 w6c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsea ws113\">1.73<span class=\"_ _0\"></span>2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2346 w690 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac700 million<span class=\"_ _0\"></span> bond, issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>3<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaac y2346 w6c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>p 2030<span class=\"_ _314\"> </span></div></td><td class=\"c n xae6 y2346 w692 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">61<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xae7 y2346 w6c5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">629<span class=\"_ _314\"> </span></div></td><td class=\"c n xae8 y2346 w6c6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">608<span class=\"_ _314\"> </span></div></td><td class=\"c n xae9 y2346 w6c7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">4<span class=\"_ _2\"></span>.231<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2347 w6c8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">$750 million<span class=\"_ _0\"></span> bond, issued April 2<span class=\"_ _0\"></span>021</div><div class=\"t m0 xaea h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaeb y2347 w6c9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ap<span class=\"_ _2\"></span>r 2031<span class=\"_ _314\"> </span></div></td><td class=\"c n xaec y2347 w6ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">557<span class=\"_ _314\"> </span></div></td><td class=\"c n xaed y2347 w6cb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">55<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xaee y2347 w6cc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">795<span class=\"_ _314\"> </span></div></td><td class=\"c n xaef y2347 w6cd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">2.5<span class=\"_ _2\"></span>00<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2348 w6ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued November 2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaf0 y2348 w6cf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">N<span class=\"_ _2\"></span>ov 203<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf1 y2348 w46d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">436<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf2 y2348 w6d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">4<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf3 y2348 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf4 y2348 w6d1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">3.000<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2349 w6d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20a3150 million<span class=\"_ _0\"></span> bond, issued April 2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaf5 y2349 w6d3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">A<span class=\"_ _2\"></span>pr 20<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf6 y2349 w6d4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">141<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf7 y2349 wa3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">140<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf8 y2349 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf9 y2349 w6d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>.15<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234a w6d6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u00a3500 million bond,<span class=\"_ _0\"></span> issued September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xafa y234a w6d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Se<span class=\"_ _2\"></span>p 2032<span class=\"_ _314\"> </span></div></td><td class=\"c n xafb y234a w6d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xafc y234a w64d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">49<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xafd y234a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xafe y234a w6d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">4.875<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d6 w688 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">\u20ac500 million bond,<span class=\"_ _0\"></span> issued April 20<span class=\"_ _0\"></span>21<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xaff y22d6 w6da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wscc\">Apr<span class=\"_ _0\"></span> 20<span class=\"_ _0\"></span>33<span class=\"_ _314\"> </span></div></td><td class=\"c n xb00 y22d6 w1f3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">43<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xb01 y22d6 w6d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">4<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td><td class=\"c n xb02 y22d6 w6db h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">410<span class=\"_ _314\"> </span></div></td><td class=\"c n xb03 y22d6 w6dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">0.750<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234b w6dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">$750 million<span class=\"_ _0\"></span> bond, issued March<span class=\"_ _0\"></span> 202<span class=\"_ _3\"></span>4<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb04 y234b w6de h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ma<span class=\"_ _2\"></span>r 2034<span class=\"_ _314\"> </span></div></td><td class=\"c n xb05 y234b w6ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">557<span class=\"_ _314\"> </span></div></td><td class=\"c n xb06 y234b w6df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">5<span class=\"_ _2\"></span>61<span class=\"_ _314\"> </span></div></td><td class=\"c n xb07 y234b w6e0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">587<span class=\"_ _314\"> </span></div></td><td class=\"c n xb08 y234b w6e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">5.<span class=\"_ _2\"></span>297<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a3 w6e2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">\u00a59<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>, iss<span class=\"_ _2\"></span>ued A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2025<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb09 y22a3 w6e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ap<span class=\"_ _2\"></span>r 2035<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0a y22a3 w6e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">43<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0b y22a3 w6e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">43<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0c y22a3 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0d y22a3 w6e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">2.1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w6e7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">\u00a55<span class=\"_ _2\"></span>,2<span class=\"_ _2\"></span>00 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n bon<span class=\"_ _2\"></span>d, is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d Apr<span class=\"_ _2\"></span>il 2025<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb0e y22d9 w6e8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 ws9e\">Apr 2037<span class=\"_ _314\"> </span></div></td><td class=\"c n xaf6 y22d9 w6e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n xb0f y22d9 w6ea h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _314\"> </span></div></td><td class=\"c n xae4 y22d9 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb10 y22d9 w6eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">2.<span class=\"_ _2\"></span>382<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w6ec h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">$750 million<span class=\"_ _0\"></span> bond, issued April 2<span class=\"_ _0\"></span>021<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xb11 y2297 w6ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ap<span class=\"_ _2\"></span>r 2041<span class=\"_ _314\"> </span></div></td><td class=\"c n xb12 y2297 w6ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">557<span class=\"_ _314\"> </span></div></td><td class=\"c n xb13 y2297 w6ee h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">549<span class=\"_ _314\"> </span></div></td><td class=\"c n x1f0 y2297 w694 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">592<span class=\"_ _314\"> </span></div></td><td class=\"c n xb14 y2297 w6ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">3.<span class=\"_ _2\"></span>200<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td></td><td class=\"c n xb15 y2288 w6f0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">9,<span class=\"_ _2\"></span>258<span class=\"_ _314\"> </span></div></td><td class=\"c n xb16 y2288 w6f1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb5 wse3\">9<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>251<span class=\"_ _314\"> </span></div></td><td class=\"c n xb17 y2288 w6f2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">8<span class=\"_ _2\"></span>,300<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c n x1eb y2069 w6f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> excluding lease liabilities<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td class=\"c n xb18 y2069 w6f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">11<span class=\"_ _2\"></span>,091<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x76b h193 y234c ff76 fs129 fc1 sc0 ls4 ws3\">9,3<span class=\"_ _2\"></span>31<span class=\"_ _314\"> </span></td><td></td></tr></table>1 <span class=\"_ _c\"> </span>Negative balances r<span class=\"_ _0\"></span>epresent the value o<span class=\"_ _0\"></span>f unamort<span class=\"_ _2\"></span>ised<span class=\"_ _0\"></span> arrangement fees.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>In<span class=\"_ _2\"></span>tere<span class=\"_ _2\"></span>st is p<span class=\"_ _2\"></span>aya<span class=\"_ _2\"></span>ble a<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e ris<span class=\"_ _2\"></span>k-fr<span class=\"_ _2\"></span>ee ra<span class=\"_ _2\"></span>te pl<span class=\"_ _2\"></span>us a ma<span class=\"_ _2\"></span>rgin a<span class=\"_ _2\"></span>nd cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt sp<span class=\"_ _2\"></span>rea<span class=\"_ _2\"></span>d (CA<span class=\"_ _2\"></span>S)<span class=\"_ _2\"></span>. The C<span class=\"_ _2\"></span>AS i<span class=\"_ _2\"></span>s var<span class=\"_ _2\"></span>iab<span class=\"_ _2\"></span>le an<span class=\"_ _2\"></span>d dep<span class=\"_ _2\"></span>end<span class=\"_ _2\"></span>s on t<span class=\"_ _2\"></span>he ten<span class=\"_ _2\"></span>or an<span class=\"_ _2\"></span>d cur<span class=\"_ _2\"></span>ren<span class=\"_ _2\"></span>cy o<span class=\"_ _2\"></span>f the b<span class=\"_ _2\"></span>orr<span class=\"_ _2\"></span>owi<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>3 <span class=\"_ _7\"> </span>I<span class=\"_ _2\"></span>nte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t is pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le at a r<span class=\"_ _2\"></span>ate e<span class=\"_ _2\"></span>qual t<span class=\"_ _2\"></span>o, at Trad<span class=\"_ _2\"></span>ewe<span class=\"_ _2\"></span>b\u2019s opt<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>, eit<span class=\"_ _2\"></span>her (a<span class=\"_ _2\"></span>) a bas<span class=\"_ _2\"></span>e rat<span class=\"_ _2\"></span>e plu<span class=\"_ _2\"></span>s a marg<span class=\"_ _2\"></span>in or (<span class=\"_ _2\"></span>b) t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk-f<span class=\"_ _2\"></span>ree r<span class=\"_ _2\"></span>ate p<span class=\"_ _2\"></span>lus a C<span class=\"_ _2\"></span>AS p<span class=\"_ _2\"></span>lus a m<span class=\"_ _2\"></span>arg<span class=\"_ _2\"></span>in, d<span class=\"_ _2\"></span>epe<span class=\"_ _2\"></span>ndi<span class=\"_ _2\"></span>ng on t<span class=\"_ _2\"></span>he cu<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>nc<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>4 <span class=\"_ _7\"> </span>I<span class=\"_ _2\"></span>n Mar<span class=\"_ _2\"></span>ch 2025<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p com<span class=\"_ _2\"></span>ple<span class=\"_ _2\"></span>ted a te<span class=\"_ _2\"></span>nde<span class=\"_ _2\"></span>r of<span class=\"_ _2\"></span>fer to r<span class=\"_ _2\"></span>epu<span class=\"_ _2\"></span>rcha<span class=\"_ _2\"></span>se US<span class=\"_ _2\"></span>$250 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: US$<span class=\"_ _2\"></span>250 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on) of t<span class=\"_ _2\"></span>he o<span class=\"_ _2\"></span>rig<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>l US$<span class=\"_ _2\"></span>1,<span class=\"_ _2\"></span>250 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on bo<span class=\"_ _2\"></span>nd is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d in Ap<span class=\"_ _2\"></span>ri<span class=\"_ _2\"></span>l 2021 an<span class=\"_ _2\"></span>d mat<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng in A<span class=\"_ _2\"></span>pr<span class=\"_ _2\"></span>il 203<span class=\"_ _2\"></span>1.<span class=\"_ _314\"> </span>Commit<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed bank facilities: Multi-<span class=\"_ _2\"></span>curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>evolving credit facilities<span class=\"_ _314\"> </span>In 2023<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup a<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ded i<span class=\"_ _2\"></span>ts \u00a3<span class=\"_ _2\"></span>1,425 mil<span class=\"_ _2\"></span>lion re<span class=\"_ _2\"></span>volv<span class=\"_ _2\"></span>ing c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, incr<span class=\"_ _0\"></span>easing the facilit<span class=\"_ _2\"></span>y amount<span class=\"_ _0\"></span> to \u00a31,925<span class=\"_ _0\"></span> million and extending th<span class=\"_ _2\"></span>e matu<span class=\"_ _2\"></span>rit<span class=\"_ _2\"></span>y to D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2027<span class=\"_ _0\"></span>. The G<span class=\"_ _2\"></span>roup r<span class=\"_ _2\"></span>etai<span class=\"_ _2\"></span>ned acc<span class=\"_ _2\"></span>ess to i<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span> \u00a31,075 million<span class=\"_ _0\"></span> revolving credit facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, which<span class=\"_ _0\"></span> also matures in<span class=\"_ _0\"></span> December 2027<span class=\"_ _3\"></span>. I<span class=\"_ _2\"></span>n Nov<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 2023, T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>deweb t<span class=\"_ _2\"></span>ermi<span class=\"_ _2\"></span>nated i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s revol<span class=\"_ _2\"></span>vin<span class=\"_ _2\"></span>g cred<span class=\"_ _2\"></span>it facilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, enter<span class=\"_ _0\"></span>ed into in<span class=\"_ _0\"></span> Ap<span class=\"_ _2\"></span>ril<span class=\"_ _0\"></span><span class=\"_ gsbf\"> </span>2019, and r<span class=\"_ _0\"></span>eplaced it with a new US$500<span class=\"_ gsbf\"> </span>million r<span class=\"_ _0\"></span>evolving credit facilit<span class=\"_ _2\"></span>y which m<span class=\"_ _0\"></span>atures in November 20<span class=\"_ _0\"></span>28. No amounts were outst<span class=\"_ _2\"></span>anding under<span class=\"_ _0\"></span> either the Group facilities or the T<span class=\"_ _3\"></span>rad<span class=\"_ _2\"></span>ew<span class=\"_ _0\"></span>eb facilit<span class=\"_ _2\"></span>y as<span class=\"_ _0\"></span> at 31 December 20<span class=\"_ _0\"></span>25.<span class=\"_ _314\"> </span>Commercial paper<span class=\"_ _314\"> </span>The Group operates<span class=\"_ _0\"></span> a Euro Commerc<span class=\"_ _0\"></span>ial Paper (ECP) Programme, wi<span class=\"_ _2\"></span>th a li<span class=\"_ _2\"></span>mit o<span class=\"_ _2\"></span>f \u00a32.<span class=\"_ _2\"></span>25<span class=\"_ gsbf\"> </span>bill<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>, and a US C<span class=\"_ _2\"></span>omm<span class=\"_ _2\"></span>ercial P<span class=\"_ _2\"></span>ape<span class=\"_ _2\"></span>r (US<span class=\"_ _2\"></span>CP) Pro<span class=\"_ _2\"></span>gram<span class=\"_ _2\"></span>me, w<span class=\"_ _2\"></span>ith a l<span class=\"_ _2\"></span>imi<span class=\"_ _2\"></span>t of \u00a31<span class=\"_ _2\"></span>.8<span class=\"_ _2\"></span>6 bill<span class=\"_ _2\"></span>ion. A<span class=\"_ _2\"></span>s at 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, US$1,<span class=\"_ _2\"></span>383 million (\u00a31,039<span class=\"_ gsbf\"> </span>million<span class=\"_ _0\"></span>) was outs<span class=\"_ _2\"></span>tanding under the USCP Programme (20<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>4: $944<span class=\"_ gsbf\"> </span>million (\u00a3753<span class=\"_ gsbf\"> </span>million<span class=\"_ _0\"></span>)), and \u20ac850 million (\u00a3<span class=\"_ _2\"></span>7<span class=\"_ _0\"></span>42<span class=\"_ gsbf\"> </span>mil<span class=\"_ _2\"></span>lion) a<span class=\"_ _2\"></span>nd \u00a360<span class=\"_ gsbf\"> </span>m<span class=\"_ _2\"></span>illio<span class=\"_ _2\"></span>n und<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>e ECP Pr<span class=\"_ _2\"></span>ogra<span class=\"_ _2\"></span>mme (<span class=\"_ _2\"></span>202<span class=\"_ _0\"></span>4: \u20ac252<span class=\"_ _0\"></span><span class=\"_ gsbf\"> </span>million (\u00a3209<span class=\"_ gsbf\"> </span>million)<span class=\"_ _0\"></span> and \u00a375<span class=\"_ gsbf\"> </span>million<span class=\"_ _0\"></span>)<span class=\"_ _314\"> </span>Bonds<span class=\"_ _314\"> </span>In M<span class=\"_ _2\"></span>arch 2025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup com<span class=\"_ _2\"></span>plet<span class=\"_ _2\"></span>ed a tend<span class=\"_ _2\"></span>er of<span class=\"_ _2\"></span>fer to re<span class=\"_ _2\"></span>purc<span class=\"_ _2\"></span>hase US$250<span class=\"_ _0\"></span> million of the original US$1,250 million<span class=\"_ _0\"></span> bond issued in April 2021 an<span class=\"_ _2\"></span>d matu<span class=\"_ _2\"></span>ring i<span class=\"_ _2\"></span>n Ap<span class=\"_ _2\"></span>ril 203<span class=\"_ _2\"></span>1. U<span class=\"_ _2\"></span>S$224 mill<span class=\"_ _2\"></span>ion wa<span class=\"_ _2\"></span>s paid t<span class=\"_ _2\"></span>o repurc<span class=\"_ _2\"></span>hase<span class=\"_ _2\"></span> the bond, including US$3 million of<span class=\"_ _0\"></span> accrued interest. A gain o<span class=\"_ _0\"></span>f \u00a323<span class=\"_ gsbf\"> </span>million has<span class=\"_ _0\"></span> been recognised in finance income<span class=\"_ _0\"></span> (see note<span class=\"_ _0\"></span> 5.1), which includes the release<span class=\"_ _0\"></span> of deferred<span class=\"_ _0\"></span> arrangement fees, the par<span class=\"_ _2\"></span>tial r<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>ycling of a ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low he<span class=\"_ _2\"></span>dge f<span class=\"_ _2\"></span>rom t<span class=\"_ _2\"></span>he hed<span class=\"_ _2\"></span>ging r<span class=\"_ _2\"></span>eser<span class=\"_ _2\"></span>ve a<span class=\"_ _2\"></span>nd tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n cost<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>, which together totalled \u00a31 million. US$750 million of<span class=\"_ _0\"></span> the bond remains out<span class=\"_ _2\"></span>standing, af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> the repurchase o<span class=\"_ _0\"></span>f US$250 milli<span class=\"_ _0\"></span>on in December 2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>4.<span class=\"_ _314\"> </span>In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d a CH<span class=\"_ _2\"></span>F150 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Ap<span class=\"_ _2\"></span>ril 20<span class=\"_ _2\"></span>32 unde<span class=\"_ _2\"></span>r the E<span class=\"_ _2\"></span>uro Me<span class=\"_ _2\"></span>dium T<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>rm No<span class=\"_ _2\"></span>te (EM<span class=\"_ _2\"></span>TN)<span class=\"_ _2\"></span> Programme.<span class=\"_ _0\"></span> The bond has<span class=\"_ _0\"></span> been designated<span class=\"_ _0\"></span> as a hedging<span class=\"_ _0\"></span> instr<span class=\"_ _2\"></span>ument<span class=\"_ _0\"></span> in a C<span class=\"_ _2\"></span>HF ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent he<span class=\"_ _2\"></span>dge (s<span class=\"_ _2\"></span>ee not<span class=\"_ _2\"></span>e 17<span class=\"_ _0\"></span>.4a)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d JP<span class=\"_ _2\"></span>Y<span class=\"_ _3\"></span>4<span class=\"_ _2\"></span>0 bil<span class=\"_ _2\"></span>lion of f<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>xed rate b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s unde<span class=\"_ _2\"></span>r th<span class=\"_ _2\"></span>e EMT<span class=\"_ _2\"></span>N. Th<span class=\"_ _2\"></span>e iss<span class=\"_ _2\"></span>ue con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>ted of a J<span class=\"_ _2\"></span>PY11<span class=\"_ _2\"></span>.5 b<span class=\"_ _2\"></span>illio<span class=\"_ _2\"></span>n bon<span class=\"_ _2\"></span>d matu<span class=\"_ _2\"></span>ring i<span class=\"_ _2\"></span>n Apr<span class=\"_ _2\"></span>il 2028, a J<span class=\"_ _2\"></span>PY14<span class=\"_ _2\"></span>.3 b<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on bon<span class=\"_ _2\"></span>d matu<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g in Ap<span class=\"_ _2\"></span>ril 203<span class=\"_ _2\"></span>0, a JP<span class=\"_ _2\"></span>Y9 bill<span class=\"_ _2\"></span>ion bo<span class=\"_ _2\"></span>nd mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Ap<span class=\"_ _2\"></span>ril 20<span class=\"_ _2\"></span>35 and a J<span class=\"_ _2\"></span>PY5<span class=\"_ _2\"></span>.2 b<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on bo<span class=\"_ _2\"></span>nd mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Ap<span class=\"_ _2\"></span>ril 203<span class=\"_ _2\"></span>7<span class=\"_ _3\"></span>. The b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s have be<span class=\"_ _2\"></span>en de<span class=\"_ _2\"></span>sign<span class=\"_ _2\"></span>ated as h<span class=\"_ _2\"></span>edg<span class=\"_ _2\"></span>ing in<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s in a J<span class=\"_ _2\"></span>PY net investment hedge (see note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.4a).<span class=\"_ _314\"> </span>In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, the \u20ac<span class=\"_ _2\"></span>50<span class=\"_ _2\"></span>0 mill<span class=\"_ _2\"></span>ion bo<span class=\"_ _2\"></span>nd is<span class=\"_ _2\"></span>sued i<span class=\"_ _2\"></span>n Apr<span class=\"_ _2\"></span>il 2021 ma<span class=\"_ _2\"></span>tured<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d a \u00a3400<span class=\"_ gsbf\"> </span>m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd, mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Oc<span class=\"_ _2\"></span>tob<span class=\"_ _2\"></span>er 2028, a<span class=\"_ _2\"></span>nd a \u00a350<span class=\"_ _2\"></span>0<span class=\"_ gsbf\"> </span>mil<span class=\"_ _2\"></span>lion f<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>xed rat<span class=\"_ _2\"></span>e bond<span class=\"_ _2\"></span>, matu<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g in S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2032, u<span class=\"_ _2\"></span>nde<span class=\"_ _2\"></span>r the E<span class=\"_ _2\"></span>MTN<span class=\"_ _2\"></span>. On t<span class=\"_ _2\"></span>he sam<span class=\"_ _2\"></span>e day, the G<span class=\"_ _2\"></span>roup<span class=\"_ _2\"></span> ent<span class=\"_ _2\"></span>ered in<span class=\"_ _2\"></span>to a ser<span class=\"_ _2\"></span>ies of G<span class=\"_ _2\"></span>BP i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st ra<span class=\"_ _2\"></span>te swa<span class=\"_ _2\"></span>ps to sw<span class=\"_ _2\"></span>ap th<span class=\"_ _2\"></span>e fi<span class=\"_ _2\"></span>xed intere<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> obligations on the two bonds<span class=\"_ _0\"></span> to floating obligations. The bonds and i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st r<span class=\"_ _2\"></span>ate sw<span class=\"_ _2\"></span>aps hav<span class=\"_ _2\"></span>e been d<span class=\"_ _2\"></span>esig<span class=\"_ _2\"></span>nate<span class=\"_ _2\"></span>d as hed<span class=\"_ _2\"></span>ged i<span class=\"_ _2\"></span>tems a<span class=\"_ _2\"></span>nd hedging instr<span class=\"_ _2\"></span>uments respecti<span class=\"_ _2\"></span>vely i<span class=\"_ _0\"></span>n a fair value<span class=\"_ _0\"></span> hedge relationship (see no<span class=\"_ _2\"></span>te 17<span class=\"_ _3\"></span>.4<span class=\"_ _2\"></span>c).<span class=\"_ _314\"> </span><table class=\"s w6f5 h271\" id=\"_819ffd83-d639-49bc-9768-4a4c0f0516fd\"><tr><td></td><td></td><td></td><td class=\"t m0 xb19 h13 y234d ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td></td></tr><tr><td></td><td class=\"t m0 xb1a h13 y234e ff75 fs6 fc1 sc0 ls26 ws3\">Qu<span class=\"_ _2\"></span>oted p<span class=\"_ _2\"></span>rice<span class=\"_ _2\"></span>s in </td><td class=\"t m0 x8a0 h13 y234e ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td class=\"t m0 xb1b h13 y234e ff75 fs6 fc1 sc0 ls27 ws45\">unobservable </td><td></td></tr><tr><td></td><td class=\"t m0 x425 h13 y234f ff75 fs6 fc1 sc0 ls26 ws3\">ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve marke<span class=\"_ _2\"></span>ts </td><td class=\"t m0 x818 h13 y234f ff75 fs6 fc1 sc0 ls27 ws43\">observable inputs </td><td class=\"t m0 x819 h13 y234f ff75 fs6 fc1 sc0 lse5 ws125\">inputs<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xb1c h13 y2350 ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xb1d h13 y2350 ff75 fs6 fc1 sc0 ls5f wsbe\">(Level 2)<span class=\"_ _314\"> </span></td><td class=\"c n xb1e y2351 w6f6 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb1f y2351 w464 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2352 w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xb20 y2352 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb21 y2352 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb22 y2352 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb23 y2352 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w664 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xb24 y214f w6f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">8<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>847<span class=\"_ _314\"> </span></div></td><td class=\"c n xb25 y214f w6f9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">75<span class=\"_ _314\"> </span></div></td><td class=\"c n xb26 y214f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb27 y214f w6fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb0 wsdb\">8,<span class=\"_ _2\"></span>922<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w667 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Commercial paper<span class=\"_ _314\"> </span></div></td><td class=\"c n xb28 y2069 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb29 y2069 w6fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">1,846<span class=\"_ _314\"> </span></div></td><td class=\"c n xb2a y2069 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb2b y2069 w6fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">1,846<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during the year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><table class=\"s w6fc h272\" id=\"_21f700d2-4af9-4a53-836a-d7d5f6e6f414\"><tr><td></td><td></td><td></td><td class=\"t m0 xb2c hb y2353 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td></td></tr><tr><td></td><td class=\"t m0 x76c hb y2354 ff76 fs6 fc1 sc0 ls26 ws3\">Qu<span class=\"_ _2\"></span>oted p<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>es in </td><td class=\"t m0 xb2d hb y2354 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td class=\"t m0 xb2e hb y2354 ff76 fs6 fc1 sc0 ls27 ws45\">unobser<span class=\"_ _2\"></span>vable </td><td></td></tr><tr><td></td><td class=\"t m0 x2d2 hb y2355 ff76 fs6 fc1 sc0 ls27 ws43\">act<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> markets </td><td class=\"t m0 xb2f hb y2355 ff76 fs6 fc1 sc0 ls27 ws43\">obser<span class=\"_ _2\"></span>vable inputs </td><td class=\"t m0 x819 hb y2355 ff76 fs6 fc1 sc0 ls12 ws81\">input<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xb30 hb y2356 ff76 fs6 fc1 sc0 lsf1 wscc\">(Le<span class=\"_ _0\"></span>vel<span class=\"_ _0\"></span> 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xb31 hb y2356 ff76 fs6 fc1 sc0 ls109 ws110\">(Lev<span class=\"_ _2\"></span>el 2)<span class=\"_ _314\"> </span></td><td class=\"c n xb32 y2357 w6fd h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb33 y2357 w6fe h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2358 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xb34 y2358 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb35 y2358 w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb36 y2358 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb37 y2358 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w664 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">Bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xb38 y22e4 w1c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xb39 y22e4 w93 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">78<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3a y22e4 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3b y22e4 w700 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>7<span class=\"_ _1\"></span>7<span class=\"_ _1\"></span>2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2359 ff76 fs129 fc1 sc0 ls6c ws7e\">Commercial paper<span class=\"_ _314\"> </span></td><td class=\"c n xb3c y235a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3d y235a w701 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">1,040<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3e y235a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb3f y235a w702 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">1,040<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during 202<span class=\"_ _0\"></span>4.<span class=\"_ _314\"> </span>The carr<span class=\"_ _2\"></span>ying amounts of the Group<span class=\"_ _0\"></span>\u2019s borrowings, e<span class=\"_ _0\"></span>xcluding lease liabilities, are<span class=\"_ _0\"></span> denominated in the f<span class=\"_ _0\"></span>ollowing currencies:<span class=\"_ _314\"> </span><table class=\"s w703 h273\" id=\"_e7424f0b-5e31-447f-9e51-3d818439571b\"><tr><td></td><td></td><td class=\"c n xb40 y235b w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td></td><td></td><td class=\"c n xb41 y235b w4f1 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td class=\"c n x8a4 y235c w1d9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls4 ws3\">Drawn<span class=\"_ _314\"> </span></div></td><td class=\"c xb43 y235c w704 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls77 wsa0\">Swa<span class=\"_ _0\"></span>pped</div><div class=\"t m0 xb42 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xb44 y22cf w705 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls94 wsc1\">Ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>tive<span class=\"_ _314\"> </span></div></td><td class=\"c n xb45 y22cf w217 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls7f wsac\">Drawn<span class=\"_ _314\"> </span></div></td><td class=\"c xb47 y22cf w706 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsb6 wse5\">Swapped</div><div class=\"t m0 xb46 h199 y2120 ff76 fs12b fc1 sc0 ls4 ws3\">1</div></td><td class=\"t m0 xb48 hb y235d ff76 fs6 fc1 sc0 lsf1 ws5e\">Effective<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y22d1 w707 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">Currenc<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></div></td><td class=\"c n xb49 y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4a y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4b y22d1 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4c y22d1 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4d y22d1 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4e y22d1 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w708 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">Sterling<span class=\"_ _314\"> </span></div></td><td class=\"c n xb4f y22d9 w33 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">1<span class=\"_ _2\"></span>,454<span class=\"_ _314\"> </span></div></td><td class=\"c n x4fd y22d9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb50 y22d9 w33 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">1,<span class=\"_ _2\"></span>454<span class=\"_ _314\"> </span></div></td><td class=\"c n xb51 y22d9 w709 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">566<span class=\"_ _314\"> </span></div></td><td class=\"c n xb52 y22d9 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d1 y22d9 w709 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">566<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w70a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">Euro<span class=\"_ _314\"> </span></div></td><td class=\"c n xb53 y2297 w70b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">4,678<span class=\"_ _314\"> </span></div></td><td class=\"c n xb54 y2297 w70c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6e ws98\">(1,<span class=\"_ _2\"></span>277<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb55 y2297 w70d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsac wsd7\">3,401<span class=\"_ _314\"> </span></div></td><td class=\"c n xb56 y2297 w70e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">3<span class=\"_ _2\"></span>,968<span class=\"_ _314\"> </span></div></td><td class=\"c n xb57 y2297 w70f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>1,<span class=\"_ _2\"></span>376<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xb58 y2297 w710 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">2,592<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w711 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">US dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xb59 y2288 w5e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">4,630<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5a y2288 w712 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6e ws98\">1,<span class=\"_ _2\"></span>277<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5b y2288 w713 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">5,9<span class=\"_ _2\"></span>07<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5c y2288 w714 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">4<span class=\"_ _2\"></span>,797<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5d y2288 w715 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>376<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5e y2288 w716 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">6,1<span class=\"_ _2\"></span>73<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w717 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other currencies<span class=\"_ _314\"> </span></div></td><td class=\"c n xb5f y228f w718 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">329<span class=\"_ _314\"> </span></div></td><td class=\"c n xb60 y228f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb61 y228f w719 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">329<span class=\"_ _314\"> </span></div></td><td class=\"c n xb62 y228f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb63 y228f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb64 y228f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w6f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal borrowings<span class=\"_ _0\"></span> excluding lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xb65 y2069 w672 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">11<span class=\"_ _2\"></span>,091<span class=\"_ _314\"> </span></div></td><td class=\"c n xb66 y2069 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb67 y2069 w6f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">11<span class=\"_ _2\"></span>,091<span class=\"_ _314\"> </span></div></td><td class=\"c n xb68 y235e w11d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">9,3<span class=\"_ _2\"></span>31<span class=\"_ _314\"> </span></div></td><td class=\"c n xb69 y235e w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb6a y235e w11d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">9,<span class=\"_ _2\"></span>331<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>Eu<span class=\"_ _2\"></span>ro bo<span class=\"_ _2\"></span>rro<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>gs ha<span class=\"_ _2\"></span>ve be<span class=\"_ _2\"></span>en sw<span class=\"_ _2\"></span>app<span class=\"_ _2\"></span>ed to U<span class=\"_ _2\"></span>S dol<span class=\"_ _2\"></span>lar b<span class=\"_ _2\"></span>orr<span class=\"_ _2\"></span>owi<span class=\"_ _2\"></span>ngs by e<span class=\"_ _2\"></span>nte<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g int<span class=\"_ _2\"></span>o cros<span class=\"_ _2\"></span>s-<span class=\"_ _2\"></span>cu<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>ncy i<span class=\"_ _2\"></span>nte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps.<span class=\"_ _314\"> </span>In N<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ber 2025, t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up is<span class=\"_ _2\"></span>sued a \u20ac<span class=\"_ _2\"></span>50<span class=\"_ _2\"></span>0 milli<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd under the EMTN, maturing in November<span class=\"_ _0\"></span> 2031.<span class=\"_ _314\"> </span>Other Group facilities<span class=\"_ _314\"> </span>In accordanc<span class=\"_ _0\"></span>e with the Commit<span class=\"_ _2\"></span>tee on Payments and Market<span class=\"_ _0\"></span> Infras<span class=\"_ _2\"></span>truc<span class=\"_ _2\"></span>tures,<span class=\"_ _0\"></span> t<span class=\"_ _2\"></span>he<span class=\"_ _0\"></span> Internat<span class=\"_ _2\"></span>ional Organi<span class=\"_ _0\"></span>zation of Securit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> Commi<span class=\"_ _2\"></span>ssions and the Principles for<span class=\"_ _0\"></span> Financial Market<span class=\"_ _0\"></span> Infr<span class=\"_ _2\"></span>astruc<span class=\"_ _2\"></span>tures, man<span class=\"_ _0\"></span>y central banks allow C<span class=\"_ _0\"></span>CP<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to apply for ac<span class=\"_ _0\"></span>cess to certain central bank facilities. In a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n, a num<span class=\"_ _2\"></span>ber of G<span class=\"_ _2\"></span>roup e<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es have a<span class=\"_ _2\"></span>ccess to u<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>mit<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d operational, money market<span class=\"_ _0\"></span> and overdraft facilities which suppor<span class=\"_ _2\"></span>t post trade act<span class=\"_ _2\"></span>ivities and day-to-<span class=\"_ _2\"></span>day liquidity requirements. The Group<span class=\"_ _0\"></span> drew down against these facilities during the year and<span class=\"_ _0\"></span> these were fully rep<span class=\"_ _2\"></span>aid as a<span class=\"_ _2\"></span>t 31 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 2025.<span class=\"_ _314\"> </span>Fair values<span class=\"_ _314\"> </span>Al<span class=\"_ _2\"></span>l the G<span class=\"_ _2\"></span>roup\u2019s bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s are reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed at a<span class=\"_ _2\"></span>mor<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>sed co<span class=\"_ _2\"></span>st o<span class=\"_ _2\"></span>n the balance sheet, ex<span class=\"_ _0\"></span>cept where<span class=\"_ _0\"></span> the borrowing has been designated<span class=\"_ _0\"></span> as a hedged item in a<span class=\"_ _0\"></span> fair value hedge r<span class=\"_ _0\"></span>elationship. In some cases, amort<span class=\"_ _2\"></span>ised cos<span class=\"_ _2\"></span>t may d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>fer fr<span class=\"_ _2\"></span>om the<span class=\"_ _2\"></span>ir fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue.<span class=\"_ _314\"> </span>The following tables<span class=\"_ _0\"></span> provide the fair value measur<span class=\"_ _0\"></span>ement hierarchy (se<span class=\"_ _2\"></span>e def<span class=\"_ _2\"></span>ini<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n in note 1<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>) of the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s b<span class=\"_ _2\"></span>orrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s, exclu<span class=\"_ _2\"></span>din<span class=\"_ _2\"></span>g lease liabilities:<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-505": {
   "value": "  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span>Bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ings a<span class=\"_ _2\"></span>re ini<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e fair v<span class=\"_ _2\"></span>alu<span class=\"_ _2\"></span>e of amou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s received, net<span class=\"_ _0\"></span> of capitalised direc<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> issue cost<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> arrangement fees (including upfr<span class=\"_ _0\"></span>ont facilit<span class=\"_ _2\"></span>y fees<span class=\"_ _0\"></span>). Subsequentl<span class=\"_ _2\"></span>y<span class=\"_ _3\"></span>, these liabilities are carried at amort<span class=\"_ _2\"></span>ised c<span class=\"_ _0\"></span>os<span class=\"_ _2\"></span>t. In<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t pay<span class=\"_ _2\"></span>able o<span class=\"_ _2\"></span>n bor<span class=\"_ _2\"></span>rowin<span class=\"_ _2\"></span>gs, d<span class=\"_ _2\"></span>irec<span class=\"_ _2\"></span>t is<span class=\"_ _2\"></span>sue co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s and<span class=\"_ _2\"></span> arrangement fees (including upfront<span class=\"_ _0\"></span> facilit<span class=\"_ _2\"></span>y fees<span class=\"_ _0\"></span>) are r<span class=\"_ _0\"></span>ecognised in the income<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tatement<span class=\"_ _0\"></span> over the period of<span class=\"_ _0\"></span> the borrowings using the effec<span class=\"_ _2\"></span>tive interest method.<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ings a<span class=\"_ _2\"></span>re iden<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ed as a he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item i<span class=\"_ _2\"></span>n a desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d fair value hedge r<span class=\"_ _0\"></span>elationship, fair value adjustments are recognised in<span class=\"_ _0\"></span> accordance with our policy (see not<span class=\"_ _0\"></span>e 17<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-494": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>Group as lessee<span class=\"_ _314\"> </span>When the Group leases an<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> at the lease commencement date a r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>use a<span class=\"_ _2\"></span>sset i<span class=\"_ _2\"></span>s recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d for t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>sed i<span class=\"_ _2\"></span>tem (se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>0) a<span class=\"_ _2\"></span>nd a lea<span class=\"_ _2\"></span>se lia<span class=\"_ _2\"></span>bili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed for a<span class=\"_ _2\"></span>ny lea<span class=\"_ _2\"></span>se pay<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to be p<span class=\"_ _2\"></span>aid ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ease te<span class=\"_ _2\"></span>rm.<span class=\"_ _314\"> </span>L<span class=\"_ _0\"></span>ease liabilities<span class=\"_ _314\"> </span>Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> are recognised at<span class=\"_ _0\"></span> the net present value<span class=\"_ _0\"></span> of the rema<span class=\"_ _2\"></span>inin<span class=\"_ _2\"></span>g fu<span class=\"_ _2\"></span>ture pa<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nts t<span class=\"_ _2\"></span>o be mad<span class=\"_ _2\"></span>e over t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>se ter<span class=\"_ _2\"></span>m.<span class=\"_ _314\"> </span>The net pr<span class=\"_ _0\"></span>esent value is det<span class=\"_ _0\"></span>ermined using a discount<span class=\"_ _0\"></span> rate equivalent to the incremental<span class=\"_ _0\"></span> borrowing rate of the leasing<span class=\"_ _0\"></span> entit<span class=\"_ _2\"></span>y unless there<span class=\"_ _0\"></span> is a rate implicit within the lease<span class=\"_ _0\"></span> agreement<span class=\"_ _2\"></span>. Subsequentl<span class=\"_ _2\"></span>y<span class=\"_ _3\"></span>, the amount of lease liabilities is<span class=\"_ _0\"></span> increased to ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he acc<span class=\"_ _2\"></span>retio<span class=\"_ _2\"></span>n of inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t and red<span class=\"_ _2\"></span>uced fo<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ease<span class=\"_ _2\"></span> payments made.<span class=\"_ _314\"> </span>The Group leases<span class=\"_ _0\"></span> many proper<span class=\"_ _2\"></span>ties ar<span class=\"_ _0\"></span>ound the world and lease ter<span class=\"_ _2\"></span>ms var<span class=\"_ _2\"></span>y f<span class=\"_ _2\"></span>rom mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>ly up t<span class=\"_ _2\"></span>o 15 year<span class=\"_ _2\"></span>s. M<span class=\"_ _2\"></span>any of t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e leas<span class=\"_ _2\"></span>es contain option clauses t<span class=\"_ _0\"></span>o extend the lease or br<span class=\"_ _0\"></span>eak clauses to terminate<span class=\"_ _0\"></span> the lease. The lease t<span class=\"_ _0\"></span>erm recognised is the<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-<span class=\"_ _314\"> </span>ca<span class=\"_ _2\"></span>ncell<span class=\"_ _2\"></span>able p<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>od of t<span class=\"_ _2\"></span>he lea<span class=\"_ _2\"></span>se plu<span class=\"_ _2\"></span>s any pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>ds for w<span class=\"_ _2\"></span>hich t<span class=\"_ _2\"></span>he Group is r<span class=\"_ _0\"></span>easonably cer<span class=\"_ _2\"></span>tain of<span class=\"_ _0\"></span> exercising<span class=\"_ _0\"></span> any extension options. The Group values<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s right-of-<span class=\"_ _2\"></span>use assets and lease<span class=\"_ _0\"></span> liabilities based on its intentions at the balance<span class=\"_ _0\"></span> sheet date.<span class=\"_ _0\"></span> Any change in these intentions is<span class=\"_ _0\"></span> accounted<span class=\"_ _0\"></span> for as<span class=\"_ _0\"></span> a lease modification and the asse<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s and liabilities are<span class=\"_ _0\"></span> amended accordingly<span class=\"_ _0\"></span>. Any resulting effec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> on th<span class=\"_ _2\"></span>e net as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p woul<span class=\"_ _2\"></span>d not b<span class=\"_ _2\"></span>e signi<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ican<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span>V<span class=\"_ _0\"></span>ariable lease payment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> based on an index<span class=\"_ _0\"></span> are estimated at the commencement dat<span class=\"_ _0\"></span>e and revalued<span class=\"_ _0\"></span> on an annual basis.<span class=\"_ _314\"> </span>Leas<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s du<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>hin 12 m<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>hs are c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s curr<span class=\"_ _2\"></span>ent liabilities. Payment<span class=\"_ _2\"></span>s due<span class=\"_ _0\"></span> af<span class=\"_ _2\"></span>ter 1<span class=\"_ _0\"></span>2 months are classified as non-<span class=\"_ _2\"></span>current liabilities.<span class=\"_ _314\"> </span>Sho<span class=\"_ _2\"></span>rt-<span class=\"_ _2\"></span>term l<span class=\"_ _2\"></span>eases an<span class=\"_ _2\"></span>d lease<span class=\"_ _2\"></span>s of low val<span class=\"_ _2\"></span>ue asset<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Ren<span class=\"_ _2\"></span>tal co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s for le<span class=\"_ _2\"></span>ased a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts t<span class=\"_ _2\"></span>hat are fo<span class=\"_ _2\"></span>r les<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>n 12 mon<span class=\"_ _2\"></span>ths or ar<span class=\"_ _2\"></span>e for ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>h an in<span class=\"_ _2\"></span>div<span class=\"_ _2\"></span>idu<span class=\"_ _2\"></span>al val<span class=\"_ _2\"></span>ue of le<span class=\"_ _2\"></span>ss th<span class=\"_ _2\"></span>an \u00a35<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0 are recognised directly in the income statement on<span class=\"_ _0\"></span> a str<span class=\"_ _2\"></span>aight-line bas<span class=\"_ _2\"></span>is over t<span class=\"_ _2\"></span>he li<span class=\"_ _2\"></span>fe of th<span class=\"_ _2\"></span>e leas<span class=\"_ _2\"></span>e.<span class=\"_ _314\"> </span>Group as lessor<span class=\"_ _314\"> </span>Finance leases<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let<span class=\"_ _2\"></span>s a prop<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of-<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>e asse<span class=\"_ _2\"></span>t for sub<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ant<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y all t<span class=\"_ _2\"></span>he use<span class=\"_ _2\"></span>ful li<span class=\"_ _2\"></span>fe of th<span class=\"_ _2\"></span>at ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>, thi<span class=\"_ _2\"></span>s is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed as a finance lease. On<span class=\"_ _0\"></span> commencement of a<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inance<span class=\"_ _0\"></span> sub<span class=\"_ _2\"></span>-lease, the pro<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y ri<span class=\"_ _2\"></span>ght-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _2\"></span>se ass<span class=\"_ _2\"></span>et is t<span class=\"_ _2\"></span>reated a<span class=\"_ _2\"></span>s dis<span class=\"_ _2\"></span>pose<span class=\"_ _2\"></span>d of and a n<span class=\"_ _2\"></span>et investment in lease, equivalent to<span class=\"_ _0\"></span> the net present value<span class=\"_ _0\"></span> of the fu<span class=\"_ _2\"></span>ture re<span class=\"_ _2\"></span>nt rece<span class=\"_ _2\"></span>ipt<span class=\"_ _2\"></span>s, is re<span class=\"_ _2\"></span>cog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d as a rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble on t<span class=\"_ _2\"></span>he ba<span class=\"_ _2\"></span>lance<span class=\"_ _2\"></span> she<span class=\"_ _2\"></span>et (se<span class=\"_ _2\"></span>e note 13<span class=\"_ _2\"></span>). Wh<span class=\"_ _2\"></span>ere th<span class=\"_ _2\"></span>e val<span class=\"_ _2\"></span>ue of th<span class=\"_ _2\"></span>e recei<span class=\"_ _2\"></span>pt<span class=\"_ _2\"></span>s from t<span class=\"_ _2\"></span>he sub-<span class=\"_ _2\"></span>lease is<span class=\"_ _0\"></span> lower than the amount payable on<span class=\"_ _0\"></span> the head-<span class=\"_ _2\"></span>lease, we rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>se a los<span class=\"_ _2\"></span>s on di<span class=\"_ _2\"></span>spos<span class=\"_ _2\"></span>al of t<span class=\"_ _2\"></span>he rig<span class=\"_ _2\"></span>ht-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-us<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>et in th<span class=\"_ _2\"></span>e income statement<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>Ope<span class=\"_ _2\"></span>rating leases<span class=\"_ _314\"> </span>A ri<span class=\"_ _2\"></span>ght-<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>-u<span class=\"_ _2\"></span>se ass<span class=\"_ _2\"></span>et tha<span class=\"_ _2\"></span>t is sub<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>let fo<span class=\"_ _2\"></span>r les<span class=\"_ _2\"></span>s than i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s expe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d usef<span class=\"_ _2\"></span>ul li<span class=\"_ _2\"></span>fe is reco<span class=\"_ _2\"></span>gnis<span class=\"_ _2\"></span>ed as a<span class=\"_ _2\"></span>n oper<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng lea<span class=\"_ _2\"></span>se and r<span class=\"_ _2\"></span>enta<span class=\"_ _2\"></span>l inco<span class=\"_ _2\"></span>me is reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed as re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>ved in ot<span class=\"_ _2\"></span>her i<span class=\"_ _2\"></span>ncom<span class=\"_ _2\"></span>e. We cont<span class=\"_ _2\"></span>inue t<span class=\"_ _2\"></span>o recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span> the proper<span class=\"_ _2\"></span>ty right-<span class=\"_ _2\"></span>of-use asset on<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-518": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>Recognition and<span class=\"_ _0\"></span> measurement<span class=\"_ _314\"> </span>Financial assets and financial liabilities<span class=\"ff76 ls7 wsa\"> are initially recognised at </span>fair value.<span class=\"_ _0\"></span> The Group classif<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s financial instrument<span class=\"_ _2\"></span>s at: amort<span class=\"_ _2\"></span>ised cost; fair value through other comprehens<span class=\"_ _0\"></span>ive income (F<span class=\"_ _2\"></span>V<span class=\"_ _0\"></span>OCI<span class=\"_ _2\"></span>); or f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue t<span class=\"_ _2\"></span>hroug<span class=\"_ _2\"></span>h prof<span class=\"_ _2\"></span>it o<span class=\"_ _2\"></span>r los<span class=\"_ _2\"></span>s (F<span class=\"_ _2\"></span>VP<span class=\"_ _2\"></span>L). Th<span class=\"_ _2\"></span>e clas<span class=\"_ _2\"></span>sif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on of financial asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> depends on the Group\u2019<span class=\"_ _0\"></span>s business model for<span class=\"_ _0\"></span> managing its f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments and whether or not<span class=\"_ _0\"></span> the cash flow<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> generated are \u201csolely payments of principal and<span class=\"_ _0\"></span> interest\u201d.<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at FVPL</span><span class=\"ls6 ws7\"> include all other financial assets </span>not c<span class=\"_ _2\"></span>lass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s amor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t or F<span class=\"_ _2\"></span>VOCI<span class=\"_ _2\"></span>. Th<span class=\"_ _2\"></span>ey incl<span class=\"_ _2\"></span>ude CC<span class=\"_ _2\"></span>P businesses\u2019 clearing<span class=\"_ _0\"></span> member trading balances including der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ves, a<span class=\"_ _2\"></span>s well a<span class=\"_ _2\"></span>s equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y and d<span class=\"_ _2\"></span>ebt in<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t are mar<span class=\"_ _2\"></span>ked to ma<span class=\"_ _2\"></span>rket on a da<span class=\"_ _2\"></span>ily b<span class=\"_ _2\"></span>asis<span class=\"_ _314\"> </span><span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial liabilities at FVPL</span><span class=\"ls6 ws7\"> include the CCP<span class=\"_ _0\"></span> businesses\u2019 </span>clearing member trading balances, including<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives, as wel<span class=\"_ _2\"></span>l as equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>at are ma<span class=\"_ _2\"></span>rked to ma<span class=\"_ _2\"></span>rket on a da<span class=\"_ _2\"></span>ily b<span class=\"_ _2\"></span>asis<span class=\"_ _2\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-506": {
   "value": "Impairment<span class=\"_ _314\"> </span>The Group adopts a f<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>ward-<span class=\"_ _2\"></span>looking approach<span class=\"_ _0\"></span> to estimating impairment losses on financial assets. An expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> credit loss (E<span class=\"_ _2\"></span>CL) a<span class=\"_ _2\"></span>rise<span class=\"_ _2\"></span>s if th<span class=\"_ _2\"></span>e cas<span class=\"_ _2\"></span>h fl<span class=\"_ _2\"></span>ows t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to recei<span class=\"_ _2\"></span>ve are low<span class=\"_ _2\"></span>er tha<span class=\"_ _2\"></span>n the c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>tua<span class=\"_ _2\"></span>l cash f<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>ows du<span class=\"_ _2\"></span>e, or are d<span class=\"_ _2\"></span>elaye<span class=\"_ _2\"></span>d. The d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>fere<span class=\"_ _2\"></span>nce is di<span class=\"_ _2\"></span>scou<span class=\"_ _2\"></span>nted a<span class=\"_ _2\"></span>t the a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>\u2019s ori<span class=\"_ _2\"></span>gina<span class=\"_ _2\"></span>l ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve interest rate<span class=\"_ _0\"></span> and recognised as an<span class=\"_ _0\"></span> impairment of the original val<span class=\"_ _2\"></span>ue of t<span class=\"_ _2\"></span>he as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 lsc ws41\">Financial assets at amortise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> cost<span class=\"ff76 ls3 ws3\"> \u2013 t<span class=\"_ _2\"></span>he ECL fo<span class=\"_ _2\"></span>r tr<span class=\"_ _2\"></span>ade </span></span>receivables (including fees<span class=\"_ _0\"></span> receivable), contract asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> lease receivables is<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>ved<span class=\"_ _0\"></span> using the simplif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> approach in I<span class=\"_ _2\"></span>FRS 9 <span class=\"ff78 ls3e ws5b\">Financial Inst<span class=\"_ _2\"></span>ruments</span> to cal<span class=\"_ _2\"></span>cula<span class=\"_ _2\"></span>te a lifet<span class=\"_ _2\"></span>ime E<span class=\"_ _2\"></span>CL.<span class=\"_ _2\"></span> The allowance<span class=\"_ _0\"></span> is based on historical experience o<span class=\"_ _0\"></span>f collect<span class=\"_ _2\"></span>ion ra<span class=\"_ _2\"></span>tes, a<span class=\"_ _2\"></span>djus<span class=\"_ _2\"></span>ted fo<span class=\"_ _2\"></span>r for<span class=\"_ _2\"></span>ward<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>loo<span class=\"_ _2\"></span>king f<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s spec<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ic to ea<span class=\"_ _2\"></span>ch counterpart<span class=\"_ _2\"></span>y and the economic<span class=\"_ _0\"></span> environment at large,<span class=\"_ _0\"></span> to creat<span class=\"_ _0\"></span>e an ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted l<span class=\"_ _2\"></span>oss m<span class=\"_ _2\"></span>atr<span class=\"_ _2\"></span>ix.<span class=\"_ _314\"> </span>The ECL on o<span class=\"_ _0\"></span>ther f<span class=\"_ _2\"></span>inancial assets held at<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tised cost is measured using<span class=\"_ _0\"></span> the general approach. An allowance<span class=\"_ _0\"></span> is ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated ba<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>n the 12-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>th EC<span class=\"_ _2\"></span>L at ea<span class=\"_ _2\"></span>ch repo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date unless there is<span class=\"_ _0\"></span> a signif<span class=\"_ _2\"></span>icant incr<span class=\"_ _0\"></span>ease in the financial instrumen<span class=\"_ _2\"></span>t\u2019<span class=\"_ _0\"></span>s cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>, in whi<span class=\"_ _2\"></span>ch ca<span class=\"_ _2\"></span>se a los<span class=\"_ _2\"></span>s allo<span class=\"_ _2\"></span>wanc<span class=\"_ _2\"></span>e base<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e lifet<span class=\"_ _2\"></span>ime<span class=\"_ _2\"></span> ECL is calculat<span class=\"_ _0\"></span>ed. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls3\">Fin<span class=\"_ _2\"></span>ancia<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts at F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I \u2013 debt i<span class=\"_ _2\"></span>nst<span class=\"_ _2\"></span>rume<span class=\"_ _2\"></span>nts</span><span class=\"ls5 ws5\"> comprise </span>hig<span class=\"_ _2\"></span>h-<span class=\"_ _2\"></span>qu<span class=\"_ _2\"></span>ali<span class=\"_ _2\"></span>ty g<span class=\"_ _2\"></span>over<span class=\"_ _2\"></span>nmen<span class=\"_ _2\"></span>t bon<span class=\"_ _2\"></span>ds th<span class=\"_ _2\"></span>at have a l<span class=\"_ _2\"></span>ow cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk.<span class=\"_ _2\"></span> The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p\u2019<span class=\"_ _0\"></span>s p<span class=\"_ _2\"></span>olic<span class=\"_ _2\"></span>y is to c<span class=\"_ _2\"></span>alcu<span class=\"_ _2\"></span>late a 12-<span class=\"_ _2\"></span>mon<span class=\"_ _2\"></span>th EC<span class=\"_ _2\"></span>L on th<span class=\"_ _2\"></span>ese as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s. If t<span class=\"_ _2\"></span>here i<span class=\"_ _2\"></span>s a sign<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ica<span class=\"_ _2\"></span>nt inc<span class=\"_ _2\"></span>reas<span class=\"_ _2\"></span>e in cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk, t<span class=\"_ _2\"></span>hen a<span class=\"_ _2\"></span> li<span class=\"_ _2\"></span>fetim<span class=\"_ _2\"></span>e ECL w<span class=\"_ _2\"></span>ill b<span class=\"_ _2\"></span>e recog<span class=\"_ _2\"></span>nise<span class=\"_ _2\"></span>d. A si<span class=\"_ _2\"></span>gnif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant i<span class=\"_ _2\"></span>ncrea<span class=\"_ _2\"></span>se in cre<span class=\"_ _2\"></span>dit<span class=\"_ _2\"></span> ri<span class=\"_ _2\"></span>sk is con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>red to ha<span class=\"_ _2\"></span>ve occu<span class=\"_ _2\"></span>rred w<span class=\"_ _2\"></span>hen co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual p<span class=\"_ _2\"></span>aym<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s are m<span class=\"_ _2\"></span>ore th<span class=\"_ _2\"></span>an 30 da<span class=\"_ _2\"></span>ys pa<span class=\"_ _2\"></span>st du<span class=\"_ _2\"></span>e. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls7 wsa\">Financial assets at FVOCI \u2013<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y instruments<span class=\"ff76 ls3 ws3\"> and </span><span class=\"lsc ws6f\">f<span class=\"_ _2\"></span>inancial </span></span>ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s at FV<span class=\"_ _2\"></span>PL \u2013 <span class=\"ff76 ls6 ws7\">not subject to impairment.<span class=\"_ _314\"> </span></span>The Group writes off a financial asset when there<span class=\"_ _0\"></span> is no reasonable exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f recove<span class=\"_ _2\"></span>ring t<span class=\"_ _2\"></span>he co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-507": {
   "value": "Of<span class=\"_ _2\"></span>fsettin<span class=\"_ _2\"></span>g<span class=\"_ _314\"> </span>Financial assets and financial liabilities are o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset and the net<span class=\"_ _0\"></span> amount reported in the balance<span class=\"_ _0\"></span> sheet when there is<span class=\"_ _0\"></span> a legally enforceable<span class=\"_ _0\"></span> right to offset the recognised amounts and there is an in<span class=\"_ _2\"></span>tent<span class=\"_ _2\"></span>ion to s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle o<span class=\"_ _2\"></span>n a net ba<span class=\"_ _2\"></span>sis, o<span class=\"_ _2\"></span>r to real<span class=\"_ _2\"></span>ise t<span class=\"_ _2\"></span>he ass<span class=\"_ _2\"></span>et and<span class=\"_ _2\"></span> sett<span class=\"_ _2\"></span>le the<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>y simultaneously.<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ts f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> on a net basis on the balanc<span class=\"_ _0\"></span>e sheet where<span class=\"_ _0\"></span> there is a legally enf<span class=\"_ _0\"></span>orceable right to o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset the recognised amounts and there<span class=\"_ _0\"></span> is an intention to set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>le on a n<span class=\"_ _2\"></span>et basi<span class=\"_ _2\"></span>s, or to r<span class=\"_ _2\"></span>ealis<span class=\"_ _2\"></span>e the a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d set<span class=\"_ _2\"></span>tl<span class=\"_ _2\"></span>e the<span class=\"_ _2\"></span> liabilities simultaneousl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p appl<span class=\"_ _2\"></span>ies t<span class=\"_ _2\"></span>he rul<span class=\"_ _2\"></span>es of le<span class=\"_ _2\"></span>gal r<span class=\"_ _2\"></span>ight o<span class=\"_ _2\"></span>f set of<span class=\"_ _2\"></span>f an<span class=\"_ _2\"></span>d inten<span class=\"_ _2\"></span>t to net settle wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s clearing member<span class=\"_ _0\"></span> balances. The carr<span class=\"_ _2\"></span>ying values of the<span class=\"_ _0\"></span> balances are o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset at an<span class=\"_ _0\"></span> appropriate level<span class=\"_ _0\"></span> to arrive at the net<span class=\"_ _0\"></span> balances reported in the balance<span class=\"_ _0\"></span> sheet<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The approach ado<span class=\"_ _2\"></span>pted i<span class=\"_ _2\"></span>s revi<span class=\"_ _2\"></span>ewed on a r<span class=\"_ _2\"></span>egul<span class=\"_ _2\"></span>ar bas<span class=\"_ _2\"></span>is to ens<span class=\"_ _2\"></span>ure it re<span class=\"_ _2\"></span>main<span class=\"_ _2\"></span>s the<span class=\"_ _2\"></span> most appropriate. Any ch<span class=\"_ _0\"></span>ange in approach would<span class=\"_ _0\"></span> not materially af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he net as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForOffsettingOfFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-509": {
   "value": "Fair value hierarchy<span class=\"_ _314\"> </span>The Group uses<span class=\"_ _0\"></span> the following valuation hierarchy f<span class=\"_ _0\"></span>or determining and disclosing the fair<span class=\"_ _0\"></span> value of financial instrument<span class=\"_ _2\"></span>s: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls3\">Level 1<span class=\"_ _2\"></span>: quot<span class=\"_ _2\"></span>ed (una<span class=\"_ _2\"></span>djus<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span>) pri<span class=\"_ _2\"></span>ces in a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive m<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s for </span>identical asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> or liabilities <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls7 wsa\">Level<span class=\"_ _0\"></span> 2: other techniques for<span class=\"_ _0\"></span> which all input<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> which have </span>a sig<span class=\"_ _2\"></span>nif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>n the re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e are obs<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>vab<span class=\"_ _2\"></span>le, either direct<span class=\"_ _2\"></span>ly or<span class=\"_ _0\"></span> indirec<span class=\"_ _2\"></span>tly <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls7 wsa\">Level<span class=\"_ _0\"></span> 3: techniques which use inputs, which have a significant </span>ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t on t<span class=\"_ _2\"></span>he reco<span class=\"_ _2\"></span>rde<span class=\"_ _2\"></span>d fair v<span class=\"_ _2\"></span>alue, t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>re not ba<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>n obser<span class=\"_ _2\"></span>vable mark<span class=\"_ _0\"></span>et data<span class=\"_ _314\"> </span>Fo<span class=\"_ _2\"></span>r Level 1<span class=\"_ _2\"></span>, the f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue i<span class=\"_ _2\"></span>s base<span class=\"_ _2\"></span>d on mar<span class=\"_ _2\"></span>ket pri<span class=\"_ _2\"></span>ce quo<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>ions<span class=\"_ _2\"></span> at t<span class=\"_ _2\"></span>he rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g date.<span class=\"_ _314\"> </span>For assets and liabilities classif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> as Level<span class=\"_ _0\"></span> 2, the fair value<span class=\"_ _0\"></span> is ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated us<span class=\"_ _2\"></span>ing on<span class=\"_ _2\"></span>e or mo<span class=\"_ _2\"></span>re valu<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on tech<span class=\"_ _2\"></span>niqu<span class=\"_ _2\"></span>es (e.g<span class=\"_ _2\"></span>., the<span class=\"_ _2\"></span> market<span class=\"_ _0\"></span> approach or the income<span class=\"_ _0\"></span> approach) with market<span class=\"_ _0\"></span> obser<span class=\"_ _2\"></span>vable input<span class=\"_ _2\"></span>s. The<span class=\"_ _0\"></span> selec<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> the appropriate valuation techniques ma<span class=\"_ _0\"></span>y be affec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> by the availabilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> and reliability of the relevant inputs. The inputs may include currency rates, int<span class=\"_ _0\"></span>erest rates, forward rate cur<span class=\"_ _2\"></span>ves, and<span class=\"_ _0\"></span> net asset values.<span class=\"_ _314\"> </span>When obser<span class=\"_ _2\"></span>vable mark<span class=\"_ _0\"></span>et data is not<span class=\"_ _0\"></span> available, the Group uses<span class=\"_ _0\"></span> one or more valuation techniques f<span class=\"_ _0\"></span>or which suf<span class=\"_ _2\"></span>ficient and reliable data is available.<span class=\"_ _0\"></span> The input<span class=\"_ _2\"></span>s used<span class=\"_ _0\"></span> in estimat<span class=\"_ _2\"></span>ing the<span class=\"_ _0\"></span> fair value of L<span class=\"_ _0\"></span>evel 3 financial inst<span class=\"_ _2\"></span>ruments t<span class=\"_ _2\"></span>ypically include expected timing and amount of future cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>lows, timing of se<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>tlement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> discount rates and<span class=\"_ _0\"></span> the net asset values<span class=\"_ _0\"></span> of certain invest<span class=\"_ _2\"></span>ments.<span class=\"_ _314\"> </span>The Group det<span class=\"_ _0\"></span>ermines whether a transfer between levels has occurred by<span class=\"_ _0\"></span> reviewing the categorisation of assets and liabilities at t<span class=\"_ _2\"></span>he end o<span class=\"_ _2\"></span>f each re<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ing pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d, bas<span class=\"_ _2\"></span>ed on t<span class=\"_ _2\"></span>he lo<span class=\"_ _2\"></span>west l<span class=\"_ _2\"></span>evel input that is signific<span class=\"_ _2\"></span>ant t<span class=\"_ _0\"></span>o the valuation.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-519": {
   "value": "Derivative financial instrument<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> hedging ac<span class=\"_ _2\"></span>tivities<span class=\"_ _314\"> </span>De<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ves are i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue on t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te a derivative contrac<span class=\"_ _2\"></span>t is<span class=\"_ _0\"></span> entered into<span class=\"_ _0\"></span> and are subsequently remeasured<span class=\"_ _0\"></span> to their fair value<span class=\"_ _0\"></span> at regular intervals. The method of rec<span class=\"_ _0\"></span>ognising any resulting measurement<span class=\"_ _0\"></span> gain or loss depends on w<span class=\"_ _2\"></span>heth<span class=\"_ _2\"></span>er or n<span class=\"_ _2\"></span>ot the d<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>vat<span class=\"_ _2\"></span>ive i<span class=\"_ _2\"></span>s desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d as a he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g instr<span class=\"_ _2\"></span>ument and<span class=\"_ _0\"></span> the nature of<span class=\"_ _0\"></span> the item being hedged.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p uses fo<span class=\"_ _2\"></span>reign e<span class=\"_ _2\"></span>xchang<span class=\"_ _2\"></span>e for<span class=\"_ _2\"></span>war<span class=\"_ _2\"></span>d cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to man<span class=\"_ _2\"></span>age i<span class=\"_ _2\"></span>ts fore<span class=\"_ _2\"></span>ign exch<span class=\"_ _2\"></span>ange r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>. It en<span class=\"_ _2\"></span>ters i<span class=\"_ _2\"></span>nto a se<span class=\"_ _2\"></span>ries o<span class=\"_ _2\"></span>f exchan<span class=\"_ _2\"></span>ge con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s to purc<span class=\"_ _0\"></span>hase or sell certain currencies against sterling and US<span class=\"_ _0\"></span> do<span class=\"_ _2\"></span>llar<span class=\"_ _2\"></span>s in th<span class=\"_ _2\"></span>e fut<span class=\"_ _2\"></span>ure at f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d amou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has em<span class=\"_ _2\"></span>bed<span class=\"_ _2\"></span>ded foreign<span class=\"_ _0\"></span> currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives, primarily in re<span class=\"_ _0\"></span>venue contrac<span class=\"_ _2\"></span>ts where th<span class=\"_ _2\"></span>e cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t is d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>feren<span class=\"_ _2\"></span>t from t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>unc<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal or<span class=\"_ _2\"></span> local currencies of<span class=\"_ _0\"></span> the par<span class=\"_ _2\"></span>ties involved. The Group<span class=\"_ _0\"></span> records these derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments at fair value in<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _0\"></span> as either assets or liabilities.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p hedg<span class=\"_ _2\"></span>es a pro<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of i<span class=\"_ _2\"></span>ts n<span class=\"_ _2\"></span>et inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment i<span class=\"_ _2\"></span>n forei<span class=\"_ _2\"></span>gn subsidiaries by<span class=\"_ _0\"></span> designating some borrowings and derivative financial inst<span class=\"_ _2\"></span>ruments as net in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ment hedges. Any gain<span class=\"_ _0\"></span> or loss on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g ins<span class=\"_ _2\"></span>tru<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t relat<span class=\"_ _2\"></span>ing to t<span class=\"_ _2\"></span>he ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e hedge is rec<span class=\"_ _0\"></span>ognised in other comprehensive inc<span class=\"_ _0\"></span>ome and remains in the hedging r<span class=\"_ _0\"></span>eser<span class=\"_ _2\"></span>ve until disposal of<span class=\"_ _0\"></span> the subsidiar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>As par<span class=\"_ _2\"></span>t of<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s interest rate<span class=\"_ _0\"></span> management polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> (see note 17<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>5),<span class=\"_ _0\"></span> the Group enters into derivative financial inst<span class=\"_ _2\"></span>ruments to con<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>t a por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f it<span class=\"_ _2\"></span>s fi<span class=\"_ _2\"></span>xed ra<span class=\"_ _2\"></span>te debt i<span class=\"_ _2\"></span>nto f<span class=\"_ _2\"></span>loa<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g rate d<span class=\"_ _2\"></span>ebt<span class=\"_ _2\"></span>. These derivative inst<span class=\"_ _2\"></span>ruments have been design<span class=\"_ _0\"></span>ated as fair value he<span class=\"_ _2\"></span>dges<span class=\"_ _2\"></span>. The c<span class=\"_ _2\"></span>arr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing v<span class=\"_ _2\"></span>alue of t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item i<span class=\"_ _2\"></span>s adju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d for fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue chan<span class=\"_ _2\"></span>ges a<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>able to t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk bei<span class=\"_ _2\"></span>ng he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d, wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he corresponding entr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> recorded in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>. Changes in fair value<span class=\"_ _0\"></span> of the derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments are also recognised in<span class=\"_ _0\"></span> the income statement<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In o<span class=\"_ _2\"></span>rder to q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>y for he<span class=\"_ _2\"></span>dge ac<span class=\"_ _2\"></span>count<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>, a tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t meet str<span class=\"_ _2\"></span>ict criteria regar<span class=\"_ _0\"></span>ding documentat<span class=\"_ _2\"></span>ion, e<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fecti<span class=\"_ _2\"></span>veness, pr<span class=\"_ _0\"></span>obabilit<span class=\"_ _2\"></span>y of occurrenc<span class=\"_ _0\"></span>e and reliability of measurement. W<span class=\"_ _0\"></span>e document the relationship between hedging instrument<span class=\"_ _2\"></span>s and hedged items<span class=\"_ _0\"></span> at the inception of<span class=\"_ _0\"></span> the tr<span class=\"_ _2\"></span>ansaction, as well as<span class=\"_ _0\"></span> document<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> the risk management object<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> and st<span class=\"_ _2\"></span>rategy f<span class=\"_ _0\"></span>or under<span class=\"_ _2\"></span>taking various hedging transac<span class=\"_ _2\"></span>tions. The effect<span class=\"_ _2\"></span>iveness of<span class=\"_ _0\"></span> the hedge is tested at each r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date and<span class=\"_ _0\"></span> at the commencement and<span class=\"_ _0\"></span> conclusion of an<span class=\"_ _2\"></span>y hedg<span class=\"_ _2\"></span>e in ord<span class=\"_ _2\"></span>er to ver<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>y t<span class=\"_ _2\"></span>hat it c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>inue<span class=\"_ _2\"></span>s to sat<span class=\"_ _2\"></span>isf<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>ll th<span class=\"_ _2\"></span>e cr<span class=\"_ _2\"></span>iter<span class=\"_ _2\"></span>ia for he<span class=\"_ _2\"></span>dge a<span class=\"_ _2\"></span>ccoun<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g. An<span class=\"_ _2\"></span>y inef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive po<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is recognised in<span class=\"_ _0\"></span> the income statement as finance income or expense.<span class=\"_ _314\"> </span>Amount<span class=\"_ _2\"></span>s that<span class=\"_ _0\"></span> have accumulat<span class=\"_ _0\"></span>ed through other comprehensive income in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> are recognised in<span class=\"_ _0\"></span> the income st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent in t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d whe<span class=\"_ _2\"></span>n the h<span class=\"_ _2\"></span>edge<span class=\"_ _2\"></span>d ite<span class=\"_ _2\"></span>m af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ts p<span class=\"_ _2\"></span>rof<span class=\"_ _2\"></span>it or<span class=\"_ _2\"></span> los<span class=\"_ _2\"></span>s (fo<span class=\"_ _2\"></span>r examp<span class=\"_ _2\"></span>le, wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e forec<span class=\"_ _2\"></span>ast t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>nsac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion th<span class=\"_ _2\"></span>at is he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d takes plac<span class=\"_ _0\"></span>e). When a<span class=\"_ _0\"></span> hedging ins<span class=\"_ _2\"></span>trument expires<span class=\"_ _0\"></span> or is sold, or when a hedge no<span class=\"_ _0\"></span> longer meets the criteria for hedge ac<span class=\"_ _0\"></span>counting<span class=\"_ _2\"></span>, any cumulative gain<span class=\"_ _0\"></span> or loss remains in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>: it is only recognised<span class=\"_ _0\"></span> in the income statement when the f<span class=\"_ _0\"></span>orecas<span class=\"_ _2\"></span>t transac<span class=\"_ _2\"></span>tion itself is ultimately recognised in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>. Wh<span class=\"_ _2\"></span>en a fore<span class=\"_ _2\"></span>cas<span class=\"_ _2\"></span>t tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>s no lon<span class=\"_ _2\"></span>ger ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>o occur, the cumulative gain or<span class=\"_ _0\"></span> loss that was reported through other comprehensive inc<span class=\"_ _0\"></span>ome is immediately recognised<span class=\"_ _0\"></span> in the income statement.<span class=\"_ _314\"> </span>The g<span class=\"_ _2\"></span>ain or l<span class=\"_ _2\"></span>oss o<span class=\"_ _2\"></span>n a der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>e whic<span class=\"_ _2\"></span>h is not d<span class=\"_ _2\"></span>esig<span class=\"_ _2\"></span>nate<span class=\"_ _2\"></span>d as a hedging instr<span class=\"_ _2\"></span>ument<span class=\"_ _0\"></span> is recognised directly in the income statement<span class=\"_ _314\"> </span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForHedgingExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-515": {
   "value": "Derivative financial instrument<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> hedging ac<span class=\"_ _2\"></span>tivities<span class=\"_ _314\"> </span>De<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ves are i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue on t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te a derivative contrac<span class=\"_ _2\"></span>t is<span class=\"_ _0\"></span> entered into<span class=\"_ _0\"></span> and are subsequently remeasured<span class=\"_ _0\"></span> to their fair value<span class=\"_ _0\"></span> at regular intervals. The method of rec<span class=\"_ _0\"></span>ognising any resulting measurement<span class=\"_ _0\"></span> gain or loss depends on w<span class=\"_ _2\"></span>heth<span class=\"_ _2\"></span>er or n<span class=\"_ _2\"></span>ot the d<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>vat<span class=\"_ _2\"></span>ive i<span class=\"_ _2\"></span>s desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d as a he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g instr<span class=\"_ _2\"></span>ument and<span class=\"_ _0\"></span> the nature of<span class=\"_ _0\"></span> the item being hedged.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p uses fo<span class=\"_ _2\"></span>reign e<span class=\"_ _2\"></span>xchang<span class=\"_ _2\"></span>e for<span class=\"_ _2\"></span>war<span class=\"_ _2\"></span>d cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to man<span class=\"_ _2\"></span>age i<span class=\"_ _2\"></span>ts fore<span class=\"_ _2\"></span>ign exch<span class=\"_ _2\"></span>ange r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>. It en<span class=\"_ _2\"></span>ters i<span class=\"_ _2\"></span>nto a se<span class=\"_ _2\"></span>ries o<span class=\"_ _2\"></span>f exchan<span class=\"_ _2\"></span>ge con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s to purc<span class=\"_ _0\"></span>hase or sell certain currencies against sterling and US<span class=\"_ _0\"></span> do<span class=\"_ _2\"></span>llar<span class=\"_ _2\"></span>s in th<span class=\"_ _2\"></span>e fut<span class=\"_ _2\"></span>ure at f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d amou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has em<span class=\"_ _2\"></span>bed<span class=\"_ _2\"></span>ded foreign<span class=\"_ _0\"></span> currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives, primarily in re<span class=\"_ _0\"></span>venue contrac<span class=\"_ _2\"></span>ts where th<span class=\"_ _2\"></span>e cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t is d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>feren<span class=\"_ _2\"></span>t from t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>unc<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal or<span class=\"_ _2\"></span> local currencies of<span class=\"_ _0\"></span> the par<span class=\"_ _2\"></span>ties involved. The Group<span class=\"_ _0\"></span> records these derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments at fair value in<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _0\"></span> as either assets or liabilities.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p hedg<span class=\"_ _2\"></span>es a pro<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of i<span class=\"_ _2\"></span>ts n<span class=\"_ _2\"></span>et inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment i<span class=\"_ _2\"></span>n forei<span class=\"_ _2\"></span>gn subsidiaries by<span class=\"_ _0\"></span> designating some borrowings and derivative financial inst<span class=\"_ _2\"></span>ruments as net in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ment hedges. Any gain<span class=\"_ _0\"></span> or loss on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g ins<span class=\"_ _2\"></span>tru<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t relat<span class=\"_ _2\"></span>ing to t<span class=\"_ _2\"></span>he ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e hedge is rec<span class=\"_ _0\"></span>ognised in other comprehensive inc<span class=\"_ _0\"></span>ome and remains in the hedging r<span class=\"_ _0\"></span>eser<span class=\"_ _2\"></span>ve until disposal of<span class=\"_ _0\"></span> the subsidiar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>As par<span class=\"_ _2\"></span>t of<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s interest rate<span class=\"_ _0\"></span> management polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> (see note 17<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>5),<span class=\"_ _0\"></span> the Group enters into derivative financial inst<span class=\"_ _2\"></span>ruments to con<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>t a por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f it<span class=\"_ _2\"></span>s fi<span class=\"_ _2\"></span>xed ra<span class=\"_ _2\"></span>te debt i<span class=\"_ _2\"></span>nto f<span class=\"_ _2\"></span>loa<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g rate d<span class=\"_ _2\"></span>ebt<span class=\"_ _2\"></span>. These derivative inst<span class=\"_ _2\"></span>ruments have been design<span class=\"_ _0\"></span>ated as fair value he<span class=\"_ _2\"></span>dges<span class=\"_ _2\"></span>. The c<span class=\"_ _2\"></span>arr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing v<span class=\"_ _2\"></span>alue of t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item i<span class=\"_ _2\"></span>s adju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d for fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue chan<span class=\"_ _2\"></span>ges a<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>able to t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk bei<span class=\"_ _2\"></span>ng he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d, wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he corresponding entr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> recorded in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>. Changes in fair value<span class=\"_ _0\"></span> of the derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments are also recognised in<span class=\"_ _0\"></span> the income statement<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In o<span class=\"_ _2\"></span>rder to q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>y for he<span class=\"_ _2\"></span>dge ac<span class=\"_ _2\"></span>count<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>, a tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t meet str<span class=\"_ _2\"></span>ict criteria regar<span class=\"_ _0\"></span>ding documentat<span class=\"_ _2\"></span>ion, e<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fecti<span class=\"_ _2\"></span>veness, pr<span class=\"_ _0\"></span>obabilit<span class=\"_ _2\"></span>y of occurrenc<span class=\"_ _0\"></span>e and reliability of measurement. W<span class=\"_ _0\"></span>e document the relationship between hedging instrument<span class=\"_ _2\"></span>s and hedged items<span class=\"_ _0\"></span> at the inception of<span class=\"_ _0\"></span> the tr<span class=\"_ _2\"></span>ansaction, as well as<span class=\"_ _0\"></span> document<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> the risk management object<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> and st<span class=\"_ _2\"></span>rategy f<span class=\"_ _0\"></span>or under<span class=\"_ _2\"></span>taking various hedging transac<span class=\"_ _2\"></span>tions. The effect<span class=\"_ _2\"></span>iveness of<span class=\"_ _0\"></span> the hedge is tested at each r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date and<span class=\"_ _0\"></span> at the commencement and<span class=\"_ _0\"></span> conclusion of an<span class=\"_ _2\"></span>y hedg<span class=\"_ _2\"></span>e in ord<span class=\"_ _2\"></span>er to ver<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>y t<span class=\"_ _2\"></span>hat it c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>inue<span class=\"_ _2\"></span>s to sat<span class=\"_ _2\"></span>isf<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>ll th<span class=\"_ _2\"></span>e cr<span class=\"_ _2\"></span>iter<span class=\"_ _2\"></span>ia for he<span class=\"_ _2\"></span>dge a<span class=\"_ _2\"></span>ccoun<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g. An<span class=\"_ _2\"></span>y inef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive po<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is recognised in<span class=\"_ _0\"></span> the income statement as finance income or expense.<span class=\"_ _314\"> </span>Amount<span class=\"_ _2\"></span>s that<span class=\"_ _0\"></span> have accumulat<span class=\"_ _0\"></span>ed through other comprehensive income in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> are recognised in<span class=\"_ _0\"></span> the income st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent in t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d whe<span class=\"_ _2\"></span>n the h<span class=\"_ _2\"></span>edge<span class=\"_ _2\"></span>d ite<span class=\"_ _2\"></span>m af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ts p<span class=\"_ _2\"></span>rof<span class=\"_ _2\"></span>it or<span class=\"_ _2\"></span> los<span class=\"_ _2\"></span>s (fo<span class=\"_ _2\"></span>r examp<span class=\"_ _2\"></span>le, wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e forec<span class=\"_ _2\"></span>ast t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>nsac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion th<span class=\"_ _2\"></span>at is he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d takes plac<span class=\"_ _0\"></span>e). When a<span class=\"_ _0\"></span> hedging ins<span class=\"_ _2\"></span>trument expires<span class=\"_ _0\"></span> or is sold, or when a hedge no<span class=\"_ _0\"></span> longer meets the criteria for hedge ac<span class=\"_ _0\"></span>counting<span class=\"_ _2\"></span>, any cumulative gain<span class=\"_ _0\"></span> or loss remains in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>: it is only recognised<span class=\"_ _0\"></span> in the income statement when the f<span class=\"_ _0\"></span>orecas<span class=\"_ _2\"></span>t transac<span class=\"_ _2\"></span>tion itself is ultimately recognised in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>. Wh<span class=\"_ _2\"></span>en a fore<span class=\"_ _2\"></span>cas<span class=\"_ _2\"></span>t tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>s no lon<span class=\"_ _2\"></span>ger ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>o occur, the cumulative gain or<span class=\"_ _0\"></span> loss that was reported through other comprehensive inc<span class=\"_ _0\"></span>ome is immediately recognised<span class=\"_ _0\"></span> in the income statement.<span class=\"_ _314\"> </span>The g<span class=\"_ _2\"></span>ain or l<span class=\"_ _2\"></span>oss o<span class=\"_ _2\"></span>n a der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>e whic<span class=\"_ _2\"></span>h is not d<span class=\"_ _2\"></span>esig<span class=\"_ _2\"></span>nate<span class=\"_ _2\"></span>d as a hedging instr<span class=\"_ _2\"></span>ument<span class=\"_ _0\"></span> is recognised directly in the income statement<span class=\"_ _314\"> </span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsAndHedgingExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-508": {
   "value": "Derivative financial instrument<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> hedging ac<span class=\"_ _2\"></span>tivities<span class=\"_ _314\"> </span>De<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ves are i<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>iall<span class=\"_ _2\"></span>y reco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed at f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue on t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te a derivative contrac<span class=\"_ _2\"></span>t is<span class=\"_ _0\"></span> entered into<span class=\"_ _0\"></span> and are subsequently remeasured<span class=\"_ _0\"></span> to their fair value<span class=\"_ _0\"></span> at regular intervals. The method of rec<span class=\"_ _0\"></span>ognising any resulting measurement<span class=\"_ _0\"></span> gain or loss depends on w<span class=\"_ _2\"></span>heth<span class=\"_ _2\"></span>er or n<span class=\"_ _2\"></span>ot the d<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>vat<span class=\"_ _2\"></span>ive i<span class=\"_ _2\"></span>s desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d as a he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g instr<span class=\"_ _2\"></span>ument and<span class=\"_ _0\"></span> the nature of<span class=\"_ _0\"></span> the item being hedged.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p uses fo<span class=\"_ _2\"></span>reign e<span class=\"_ _2\"></span>xchang<span class=\"_ _2\"></span>e for<span class=\"_ _2\"></span>war<span class=\"_ _2\"></span>d cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s to man<span class=\"_ _2\"></span>age i<span class=\"_ _2\"></span>ts fore<span class=\"_ _2\"></span>ign exch<span class=\"_ _2\"></span>ange r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>. It en<span class=\"_ _2\"></span>ters i<span class=\"_ _2\"></span>nto a se<span class=\"_ _2\"></span>ries o<span class=\"_ _2\"></span>f exchan<span class=\"_ _2\"></span>ge con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s to purc<span class=\"_ _0\"></span>hase or sell certain currencies against sterling and US<span class=\"_ _0\"></span> do<span class=\"_ _2\"></span>llar<span class=\"_ _2\"></span>s in th<span class=\"_ _2\"></span>e fut<span class=\"_ _2\"></span>ure at f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d amou<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has em<span class=\"_ _2\"></span>bed<span class=\"_ _2\"></span>ded foreign<span class=\"_ _0\"></span> currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives, primarily in re<span class=\"_ _0\"></span>venue contrac<span class=\"_ _2\"></span>ts where th<span class=\"_ _2\"></span>e cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t is d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>feren<span class=\"_ _2\"></span>t from t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>unc<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>nal or<span class=\"_ _2\"></span> local currencies of<span class=\"_ _0\"></span> the par<span class=\"_ _2\"></span>ties involved. The Group<span class=\"_ _0\"></span> records these derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments at fair value in<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _0\"></span> as either assets or liabilities.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p hedg<span class=\"_ _2\"></span>es a pro<span class=\"_ _2\"></span>por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of i<span class=\"_ _2\"></span>ts n<span class=\"_ _2\"></span>et inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment i<span class=\"_ _2\"></span>n forei<span class=\"_ _2\"></span>gn subsidiaries by<span class=\"_ _0\"></span> designating some borrowings and derivative financial inst<span class=\"_ _2\"></span>ruments as net in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ment hedges. Any gain<span class=\"_ _0\"></span> or loss on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g ins<span class=\"_ _2\"></span>tru<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t relat<span class=\"_ _2\"></span>ing to t<span class=\"_ _2\"></span>he ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of th<span class=\"_ _2\"></span>e hedge is rec<span class=\"_ _0\"></span>ognised in other comprehensive inc<span class=\"_ _0\"></span>ome and remains in the hedging r<span class=\"_ _0\"></span>eser<span class=\"_ _2\"></span>ve until disposal of<span class=\"_ _0\"></span> the subsidiar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>As par<span class=\"_ _2\"></span>t of<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s interest rate<span class=\"_ _0\"></span> management polic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> (see note 17<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>5),<span class=\"_ _0\"></span> the Group enters into derivative financial inst<span class=\"_ _2\"></span>ruments to con<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>t a por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f it<span class=\"_ _2\"></span>s fi<span class=\"_ _2\"></span>xed ra<span class=\"_ _2\"></span>te debt i<span class=\"_ _2\"></span>nto f<span class=\"_ _2\"></span>loa<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g rate d<span class=\"_ _2\"></span>ebt<span class=\"_ _2\"></span>. These derivative inst<span class=\"_ _2\"></span>ruments have been design<span class=\"_ _0\"></span>ated as fair value he<span class=\"_ _2\"></span>dges<span class=\"_ _2\"></span>. The c<span class=\"_ _2\"></span>arr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing v<span class=\"_ _2\"></span>alue of t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item i<span class=\"_ _2\"></span>s adju<span class=\"_ _2\"></span>ste<span class=\"_ _2\"></span>d for fai<span class=\"_ _2\"></span>r val<span class=\"_ _2\"></span>ue chan<span class=\"_ _2\"></span>ges a<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>able to t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk bei<span class=\"_ _2\"></span>ng he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d, wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he corresponding entr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> recorded in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>. Changes in fair value<span class=\"_ _0\"></span> of the derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments are also recognised in<span class=\"_ _0\"></span> the income statement<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In o<span class=\"_ _2\"></span>rder to q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>y for he<span class=\"_ _2\"></span>dge ac<span class=\"_ _2\"></span>count<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>, a tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t meet str<span class=\"_ _2\"></span>ict criteria regar<span class=\"_ _0\"></span>ding documentat<span class=\"_ _2\"></span>ion, e<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fecti<span class=\"_ _2\"></span>veness, pr<span class=\"_ _0\"></span>obabilit<span class=\"_ _2\"></span>y of occurrenc<span class=\"_ _0\"></span>e and reliability of measurement. W<span class=\"_ _0\"></span>e document the relationship between hedging instrument<span class=\"_ _2\"></span>s and hedged items<span class=\"_ _0\"></span> at the inception of<span class=\"_ _0\"></span> the tr<span class=\"_ _2\"></span>ansaction, as well as<span class=\"_ _0\"></span> document<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> the risk management object<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> and st<span class=\"_ _2\"></span>rategy f<span class=\"_ _0\"></span>or under<span class=\"_ _2\"></span>taking various hedging transac<span class=\"_ _2\"></span>tions. The effect<span class=\"_ _2\"></span>iveness of<span class=\"_ _0\"></span> the hedge is tested at each r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date and<span class=\"_ _0\"></span> at the commencement and<span class=\"_ _0\"></span> conclusion of an<span class=\"_ _2\"></span>y hedg<span class=\"_ _2\"></span>e in ord<span class=\"_ _2\"></span>er to ver<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>y t<span class=\"_ _2\"></span>hat it c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>inue<span class=\"_ _2\"></span>s to sat<span class=\"_ _2\"></span>isf<span class=\"_ _2\"></span>y a<span class=\"_ _2\"></span>ll th<span class=\"_ _2\"></span>e cr<span class=\"_ _2\"></span>iter<span class=\"_ _2\"></span>ia for he<span class=\"_ _2\"></span>dge a<span class=\"_ _2\"></span>ccoun<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g. An<span class=\"_ _2\"></span>y inef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive po<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is recognised in<span class=\"_ _0\"></span> the income statement as finance income or expense.<span class=\"_ _314\"> </span>Amount<span class=\"_ _2\"></span>s that<span class=\"_ _0\"></span> have accumulat<span class=\"_ _0\"></span>ed through other comprehensive income in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> are recognised in<span class=\"_ _0\"></span> the income st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent in t<span class=\"_ _2\"></span>he p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d whe<span class=\"_ _2\"></span>n the h<span class=\"_ _2\"></span>edge<span class=\"_ _2\"></span>d ite<span class=\"_ _2\"></span>m af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ts p<span class=\"_ _2\"></span>rof<span class=\"_ _2\"></span>it or<span class=\"_ _2\"></span> los<span class=\"_ _2\"></span>s (fo<span class=\"_ _2\"></span>r examp<span class=\"_ _2\"></span>le, wh<span class=\"_ _2\"></span>en th<span class=\"_ _2\"></span>e forec<span class=\"_ _2\"></span>ast t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>nsac<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion th<span class=\"_ _2\"></span>at is he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d takes plac<span class=\"_ _0\"></span>e). When a<span class=\"_ _0\"></span> hedging ins<span class=\"_ _2\"></span>trument expires<span class=\"_ _0\"></span> or is sold, or when a hedge no<span class=\"_ _0\"></span> longer meets the criteria for hedge ac<span class=\"_ _0\"></span>counting<span class=\"_ _2\"></span>, any cumulative gain<span class=\"_ _0\"></span> or loss remains in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>: it is only recognised<span class=\"_ _0\"></span> in the income statement when the f<span class=\"_ _0\"></span>orecas<span class=\"_ _2\"></span>t transac<span class=\"_ _2\"></span>tion itself is ultimately recognised in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _2\"></span>. Wh<span class=\"_ _2\"></span>en a fore<span class=\"_ _2\"></span>cas<span class=\"_ _2\"></span>t tr<span class=\"_ _2\"></span>ansa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion i<span class=\"_ _2\"></span>s no lon<span class=\"_ _2\"></span>ger ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted t<span class=\"_ _2\"></span>o occur, the cumulative gain or<span class=\"_ _0\"></span> loss that was reported through other comprehensive inc<span class=\"_ _0\"></span>ome is immediately recognised<span class=\"_ _0\"></span> in the income statement.<span class=\"_ _314\"> </span>The g<span class=\"_ _2\"></span>ain or l<span class=\"_ _2\"></span>oss o<span class=\"_ _2\"></span>n a der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>e whic<span class=\"_ _2\"></span>h is not d<span class=\"_ _2\"></span>esig<span class=\"_ _2\"></span>nate<span class=\"_ _2\"></span>d as a hedging instr<span class=\"_ _2\"></span>ument<span class=\"_ _0\"></span> is recognised directly in the income statement<span class=\"_ _314\"> </span>.",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-574": {
   "value": "17<span class=\"_ _3\"></span>.1<span class=\"_ _0\"></span> Financial assets<span class=\"_ _314\"> </span><table class=\"s w75d h278\" id=\"_ab9df061-a71d-452d-9778-d906ec3f1636\"><tr><td></td><td class=\"c n xbfa y2370 w75e h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls27 ws43\">Amortised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n xbfb y2370 w75f h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls119 ws18f\">F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I<span class=\"_ _314\"> </span></div></td><td class=\"c n xbfc y2370 w3a3 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls110 ws183\">F<span class=\"_ _2\"></span>VPL<span class=\"_ _314\"> </span></div></td><td class=\"c n xbfd y2370 w464 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2059 w186 h21c\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xbfe y2059 w34 h21b\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xbff y2059 w34 h21b\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc00 y2059 w34 h21b\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc01 y2059 w34 h21b\"><div class=\"t m0 x1e4 h187 y2371 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2180 w760 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial assets</div><div class=\"t m0 xc02 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2372 w761 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member trading assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc03 y2372 w6a h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc04 y2372 w4f h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc05 y2372 w762 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc06 y2372 w762 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2182 w763 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther r<span class=\"_ _0\"></span>eceivables from clearing members<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc07 y2182 w764 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">4,60<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xc08 y2182 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc09 y2182 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0a y2182 w764 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">4<span class=\"_ _2\"></span>,601<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2183 w765 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther financial assets</span></div><div class=\"t m0 xc0b h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0c y205d w766 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls75 ws9e\">319<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0d y205d w767 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">24,<span class=\"_ _2\"></span>33<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0e y205d w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc0f y205d w768 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>,64<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2373 w769 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member cash<span class=\"_ _0\"></span> and cash equivalents</span></div><div class=\"t m0 xc10 h194 y20bd ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xc11 y227a w76a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">65,553<span class=\"_ _314\"> </span></div></td><td class=\"c n xc12 y227a w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc13 y227a w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc14 y227a w76b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">65,<span class=\"_ _2\"></span>553<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2185 w76c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> clearing member asse<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc15 y2185 w76d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">70,<span class=\"_ _2\"></span>473<span class=\"_ _314\"> </span></div></td><td class=\"c n xc16 y2185 w76e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>,3<span class=\"_ _2\"></span>30<span class=\"_ _314\"> </span></div></td><td class=\"c n xc17 y2185 w76f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">662,<span class=\"_ _2\"></span>458<span class=\"_ _314\"> </span></div></td><td class=\"c n xc18 y2185 w770 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls83 wsb0\">7<span class=\"_ _2\"></span>5<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2186 w771 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Receivables</div><div class=\"t m0 xc19 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1a y225d w359 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">1,564<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1b y225d w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1c y225d w33a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1d y225d w772 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>,582<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2374 wdb h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1e y2374 wdd h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">3,949<span class=\"_ _314\"> </span></div></td><td class=\"c n xc1f y2374 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc20 y2374 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc21 y2374 wdd h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">3,949<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2188 w773 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc22 y2188 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc23 y2188 w1ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td><td class=\"c n xc24 y2188 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc25 y2188 w1ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y218a w774 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc26 y218a w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc27 y218a w775 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">148<span class=\"_ _314\"> </span></div></td><td class=\"c n xc28 y218a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc29 y218a w775 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">148<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2375 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218c w776 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y218c w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2b y218c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2c y218c w777 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2d y218c w777 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2376 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22cc w778 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y22cc w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2f y22cc w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc30 y22cc w779 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td><td class=\"c n xc31 y22cc w779 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w77a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y213d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y213d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc34 y213d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc35 y213d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2176 w77b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y2176 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y2176 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc34 y2176 w5c3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n xc36 y2176 wa5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y20da w77c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> deriv<span class=\"_ _2\"></span>ative financial instruments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc37 y20da w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc38 y20da w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc39 y20da w157 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls75 ws9e\">196<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3a y20da wc4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls75 ws9e\">196<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w77d h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3b y2069 w77e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">75,986<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3c y2069 w77f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>,5<span class=\"_ _2\"></span>39<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3d y2069 w780 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">6<span class=\"_ _2\"></span>62,672<span class=\"_ _314\"> </span></div></td><td class=\"c n xc3e y2069 w781 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaf wsd9\">7<span class=\"_ _2\"></span>63<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>97<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>A<span class=\"_ _2\"></span>t 31 De<span class=\"_ _2\"></span>cem<span class=\"_ _2\"></span>ber 20<span class=\"_ _2\"></span>25, th<span class=\"_ _2\"></span>ere a<span class=\"_ _2\"></span>re no pr<span class=\"_ _2\"></span>ovi<span class=\"_ _2\"></span>sio<span class=\"_ _2\"></span>ns for e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ed cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t los<span class=\"_ _2\"></span>ses i<span class=\"_ _2\"></span>n rela<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on to an<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e CCP b<span class=\"_ _2\"></span>usi<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>ses\u2019 f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>anc<span class=\"_ _2\"></span>ial a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts h<span class=\"_ _2\"></span>eld a<span class=\"_ _2\"></span>t amo<span class=\"_ _2\"></span>rt<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d cos<span class=\"_ _2\"></span>t or F<span class=\"_ _2\"></span>VO<span class=\"_ _2\"></span>CI (20<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4: n<span class=\"_ _2\"></span>il)<span class=\"_ _2\"></span>. The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p clo<span class=\"_ _2\"></span>sel<span class=\"_ _2\"></span>y monitors its CCP investment portfolio and invests only in<span class=\"_ _0\"></span> government debt and<span class=\"_ _0\"></span> other collateralised instruments where the risk<span class=\"_ _0\"></span> of loss is<span class=\"_ _0\"></span> minimal. This includes<span class=\"_ _0\"></span> direct investment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> in highly rated, regulatory qualify<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> sovereign bonds and<span class=\"_ _0\"></span> supranational debt; investments in tri-par<span class=\"_ _2\"></span>ty and bilateral<span class=\"_ _0\"></span> reverse repos (<span class=\"_ _0\"></span>receiving high-<span class=\"_ _2\"></span>quality government securities as<span class=\"_ _0\"></span> collateral); and, in<span class=\"_ _0\"></span> cert<span class=\"_ _2\"></span>ain jurisdictions<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> deposit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> the central bank. The small<span class=\"_ _0\"></span> proport<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> of cash that<span class=\"_ _0\"></span> is invested unsecured<span class=\"_ _0\"></span> is placed for<span class=\"_ _0\"></span> short durations with highly rated count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ties where<span class=\"_ _0\"></span> limit<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are applied with res<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t to c<span class=\"_ _2\"></span>red<span class=\"_ _2\"></span>it qu<span class=\"_ _2\"></span>ali<span class=\"_ _2\"></span>ty, co<span class=\"_ _2\"></span>nce<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>at<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>nd ten<span class=\"_ _2\"></span>or. Th<span class=\"_ _2\"></span>ere wa<span class=\"_ _2\"></span>s no si<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t inc<span class=\"_ _2\"></span>rea<span class=\"_ _2\"></span>se in cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t ri<span class=\"_ _2\"></span>sk in t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r and n<span class=\"_ _2\"></span>one o<span class=\"_ _2\"></span>f the a<span class=\"_ _2\"></span>ss<span class=\"_ _2\"></span>ets a<span class=\"_ _2\"></span>re pa<span class=\"_ _2\"></span>st du<span class=\"_ _2\"></span>e (2024: n<span class=\"_ _2\"></span>il)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>Clearing<span class=\"_ _0\"></span> member cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> represents amounts received from<span class=\"_ _0\"></span> the clearing members to<span class=\"_ _0\"></span> cover initial and<span class=\"_ _0\"></span> variation margins and<span class=\"_ _0\"></span> default fund contributions that are<span class=\"_ _0\"></span> not invested in bonds. These<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are deposited<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th<span class=\"_ _0\"></span> banks, including central banks, or<span class=\"_ _0\"></span> invested securely in<span class=\"_ _0\"></span> shor<span class=\"_ _2\"></span>t-term r<span class=\"_ _0\"></span>everse repurchase<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts (re<span class=\"_ _0\"></span>verse repos).<span class=\"_ _0\"></span> O<span class=\"_ _2\"></span>ther<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> represent the CCP investment in<span class=\"_ _0\"></span> government bonds.<span class=\"_ _314\"> </span>3 <span class=\"_ _7\"> </span>Prepayments of \u00a3265<span class=\"_ _0\"></span> million (non-cur<span class=\"_ _2\"></span>rent: \u00a35<span class=\"_ _0\"></span>9 million and<span class=\"_ _0\"></span> current: \u00a3206 million), other<span class=\"_ _0\"></span> taxes receivable of<span class=\"_ _0\"></span> \u00a397 million<span class=\"_ _0\"></span> (all current) and<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> assets of \u00a35 million<span class=\"_ _0\"></span> (all current)<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> receivables are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> as financial instrument<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span><table class=\"s w782 h279\" id=\"_5fed8258-07eb-4b19-b806-3fbeb24a2fbb\"><tr><td></td><td class=\"c n xc3f y2377 w783 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls27 ws43\">Amor<span class=\"_ _2\"></span>tised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n xc40 y2377 w784 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsff ws148\">F<span class=\"_ _2\"></span>VOC<span class=\"_ _2\"></span>I<span class=\"_ _314\"> </span></div></td><td class=\"c n xc41 y2377 w785 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls7a wsbe\">F<span class=\"_ _2\"></span>VPL<span class=\"_ _314\"> </span></div></td><td class=\"c n xc42 y2377 w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2275 w15d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n xc43 y2275 w35 h234\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc44 y2275 w5fb h234\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x23f y2275 w35 h234\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc45 y2275 w35 h234\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2378 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial assets<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y205a w761 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member trading assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc03 y205a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc04 y205a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc46 y205a w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">59<span class=\"_ _2\"></span>4,555<span class=\"_ _314\"> </span></div></td><td class=\"c n xc47 y205a w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">59<span class=\"_ _2\"></span>4,555<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2379 w763 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther r<span class=\"_ _0\"></span>eceivables from clearing members<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc48 y2379 w787 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsad wsdc\">6<span class=\"_ _2\"></span>,882<span class=\"_ _314\"> </span></div></td><td class=\"c n xc49 y2379 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4a y2379 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4b y2379 w788 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsad wsdc\">6,8<span class=\"_ _2\"></span>82<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y205c w789 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther financial assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y205c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4c y205c w78a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>,13<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4d y205c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4e y205c w78a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>,13<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y205d w78b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member cash<span class=\"_ _0\"></span> and cash equivalents<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc4f y205d w78c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">7<span class=\"_ _2\"></span>2,90<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td><td class=\"c n xc50 y205d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc51 y205d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc52 y205d w78d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">7<span class=\"_ _2\"></span>2,90<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y227a w76c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> clearing member asse<span class=\"_ _0\"></span>t<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc53 y227a w78e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">79,791<span class=\"_ _314\"> </span></div></td><td class=\"c n xc54 y227a w78a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>3<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xc55 y227a w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594<span class=\"_ _2\"></span>,555<span class=\"_ _314\"> </span></div></td><td class=\"c n xc56 y227a w78f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">692,<span class=\"_ _2\"></span>48<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2070 w790 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Receivables</div><div class=\"t m0 xc19 h194 y20d4 ff76 fs12a fc1 sc0 lsa6 wsd2\">1,2<span class=\"_ _314\"> </span></div></td><td class=\"c n xc57 y2070 w791 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,51<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td><td class=\"c n xc58 y2070 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc59 y2070 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5a y2070 w792 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>515<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y225d wdb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Cash and cash<span class=\"_ _0\"></span> equivalent<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5b y225d wde h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 wsdb\">3,<span class=\"_ _2\"></span>475<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5c y225d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5d y225d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5e y225d w793 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 wsdb\">3,<span class=\"_ _2\"></span>475<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21b9 w773 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc22 y21b9 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc5f y21b9 wd7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td><td class=\"c n xc60 y21b9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc61 y21b9 w4a7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2062 w774 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc26 y2062 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc62 y2062 w56f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc63 y2062 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc64 y2062 w50 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237a ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21ba w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y21ba w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y21ba w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc65 y21ba w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xc66 y21ba w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y214a w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y214a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2b y214a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc67 y214a w794 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td><td class=\"c n xc68 y214a w794 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237c ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y214c w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y214c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc69 y214c w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6a y214c w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y213e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y213e w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc69 y213e w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6a y213e w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2068 w77c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> deriv<span class=\"_ _2\"></span>ative financial instruments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc37 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc38 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6b y2068 w52f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">113<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6c y2068 w52f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">113<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w77d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6d y2069 w795 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls61 ws86\">84<span class=\"_ _2\"></span>,781<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6e y2069 w796 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>92<span class=\"_ _314\"> </span></div></td><td class=\"c n xc6f y2069 w797 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>68<span class=\"_ _314\"> </span></div></td><td class=\"c n xc70 y2069 w798 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">697<span class=\"_ _0\"></span>,6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>Prepayments of \u00a32<span class=\"_ _0\"></span>41 million<span class=\"_ _0\"></span> (non-<span class=\"_ _2\"></span>current: \u00a323 million<span class=\"_ _0\"></span> and current: \u00a3218 million) and<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>t assets o<span class=\"_ _0\"></span>f \u00a316 million (non-current: \u00a311 million and<span class=\"_ _0\"></span> current: \u00a35 million)<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> receivables are<span class=\"_ _0\"></span> not classified as financial instruments. 2 <span class=\"_ _7\"> </span>Fo<span class=\"_ _2\"></span>r 2024, rec<span class=\"_ _2\"></span>eiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>es cl<span class=\"_ _2\"></span>ass<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied a<span class=\"_ _2\"></span>s fi<span class=\"_ _2\"></span>nan<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>l ass<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s have b<span class=\"_ _2\"></span>een r<span class=\"_ _2\"></span>e-<span class=\"_ _2\"></span>pre<span class=\"_ _2\"></span>sen<span class=\"_ _2\"></span>ted to e<span class=\"_ _2\"></span>xclu<span class=\"_ _2\"></span>de ot<span class=\"_ _2\"></span>her t<span class=\"_ _2\"></span>axe<span class=\"_ _2\"></span>s rec<span class=\"_ _2\"></span>eiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e of \u00a368 m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>see n<span class=\"_ _2\"></span>ote 1<span class=\"_ _2\"></span>3).<span class=\"_ _314\"> </span>17<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>2 Financial<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span><table class=\"s w799 h27a\" id=\"_1cb6eb71-59fc-4208-8a9e-fed23ec2a909\"><tr><td></td><td class=\"c n xc71 y237d w75e h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls27 ws43\">Amortised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n xc72 y237d w3a3 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls110 ws183\">F<span class=\"_ _2\"></span>VPL<span class=\"_ _314\"> </span></div></td><td class=\"c n xc73 y237d w464 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y236e w6f7 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xc74 y236e w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc75 y236e w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc76 y236e w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237e ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial liabilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2186 w79a h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member trading li<span class=\"_ _0\"></span>abilities<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc77 y2186 w6a h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc78 y2186 w79b h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,4<span class=\"_ _2\"></span>58<span class=\"_ _314\"> </span></div></td><td class=\"c n xc79 y2186 w762 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w79c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther pa<span class=\"_ _0\"></span>yables to clearing members<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc7a y2187 w79d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">94,986<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7b y2187 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7c y2187 w79d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">94,986<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2188 w79e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> clearing member financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7d y2188 w79d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">94,986<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7e y2188 w79b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,4<span class=\"_ _2\"></span>58<span class=\"_ _314\"> </span></div></td><td class=\"c n xc7f y2188 w79f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsee ws55\">757<span class=\"_ _3\"></span>,444<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y218a w7a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Payables</div><div class=\"t m0 x435 h194 y20bd ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xc80 y2189 w7a1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb0 wsdb\">2<span class=\"_ _2\"></span>,779<span class=\"_ _314\"> </span></div></td><td class=\"c n xc81 y2189 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc82 y2189 w7a1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb0 wsdb\">2,7<span class=\"_ _2\"></span>79<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y218b wed h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Borrowings and<span class=\"_ _0\"></span> lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xc83 y218b w75c h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">11<span class=\"_ _2\"></span>,71<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc84 y218b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc85 y218b w75c h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">11<span class=\"_ _2\"></span>,71<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y237f ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218d w778 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x822 y218d w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc86 y218d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x82c y218d w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2380 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213d w77a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc87 y213d w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc88 y213d w56 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n xc89 y213d w56 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w77b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc8a y20d9 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x287 y20d9 w4e7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8b y20d9 w4e7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y20da w77c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> deriv<span class=\"_ _2\"></span>ative financial instruments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8c y20da w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8d y20da w7a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8e y20da w7a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w7a3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8f y2069 w7a4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls58 wsb5\">109,<span class=\"_ _2\"></span>483<span class=\"_ _314\"> </span></div></td><td class=\"c n xc90 y2069 w7a5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,48<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xc91 y2069 w7a6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">771<span class=\"_ _2\"></span>,966<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>Social security and other taxes<span class=\"_ _0\"></span> payable of \u00a314<span class=\"_ _0\"></span>7 million and<span class=\"_ _0\"></span> deferred compensation<span class=\"_ _0\"></span> of \u00a310 million within payables<span class=\"_ _0\"></span> are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> financial instrumen<span class=\"_ _2\"></span>ts.<span class=\"_ _314\"> </span><table class=\"s w7a7 h27b\" id=\"_a68865a6-aa17-498f-be88-75727561576e\"><tr><td></td><td class=\"c n xc92 y2381 w783 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls27 ws43\">Amor<span class=\"_ _2\"></span>tised cost<span class=\"_ _314\"> </span></div></td><td class=\"c n xc93 y2381 w785 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls7a wsbe\">F<span class=\"_ _2\"></span>VPL<span class=\"_ _314\"> </span></div></td><td class=\"c n xc94 y2381 w7a8 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2382 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xc95 y2382 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc96 y2382 w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc97 y2382 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2383 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial liabilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y205d w79a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Clearing member trading li<span class=\"_ _0\"></span>abilities<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc77 y205d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc98 y205d w7a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594,555<span class=\"_ _314\"> </span></div></td><td class=\"c n xc99 y205d w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594<span class=\"_ _2\"></span>,555<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y205e w79c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther pa<span class=\"_ _0\"></span>yables to clearing members<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc9a y205e w7aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">98<span class=\"_ _2\"></span>,085<span class=\"_ _314\"> </span></div></td><td class=\"c n xc4a y205e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9b y205e w7aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">9<span class=\"_ _2\"></span>8,085<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2070 w79e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> clearing member financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9c y2070 w7aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">9<span class=\"_ _2\"></span>8,085<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9d y2070 w7ab h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594,<span class=\"_ _2\"></span>555<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9e y2070 w7ac h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">692,6<span class=\"_ _2\"></span>40<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y225d w7a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Payables</div><div class=\"t m0 x435 h194 y2242 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xc9f y225d w7ad h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">2,<span class=\"_ _2\"></span>261<span class=\"_ _314\"> </span></div></td><td class=\"c n xca0 y225d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca1 y225d w7ae h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">2<span class=\"_ _2\"></span>,261<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2061 wed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Borrowings and<span class=\"_ _0\"></span> lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xca2 y2061 w670 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">9,9<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td><td class=\"c n xca3 y2061 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca4 y2061 w670 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">9,9<span class=\"_ _2\"></span>65<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2384 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2063 w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x822 y2063 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x2f3 y2063 w6e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n xca5 y2063 w7af h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2385 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2073 w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc8a y2073 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca6 y2073 w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xca7 y2073 w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2386 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2066 w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n x822 y2066 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca8 y2066 w7b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></div></td><td class=\"c n x29d y2066 w7b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc87 y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xca9 y214c w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xcaa y214c w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2075 w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc8a y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x287 y2075 w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xcab y2075 w7b1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2068 w77c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> deriv<span class=\"_ _2\"></span>ative financial instruments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc8c y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcac y2068 w414 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls10d ws181\">77<span class=\"_ _314\"> </span></div></td><td class=\"c n xcad y2068 w414 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls10d ws181\">77<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w7a3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xcae y2069 w7b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">110,311<span class=\"_ _314\"> </span></div></td><td class=\"c n xcaf y2069 w7b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">594<span class=\"_ _2\"></span>,63<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xcb0 y2069 w7b4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">704,<span class=\"_ _0\"></span>943<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>Social security and other taxes<span class=\"_ _0\"></span> payable of \u00a314<span class=\"_ _0\"></span>1 million and<span class=\"_ _0\"></span> deferred compensation o<span class=\"_ _0\"></span>f \u00a37 million within payables<span class=\"_ _0\"></span> are not<span class=\"_ _0\"></span> classif<span class=\"_ _2\"></span>ied as<span class=\"_ _0\"></span> financial instrument<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Financial assets <table class=\"s w7c1 h27d\" id=\"_f9c15e01-b161-467c-83c2-06af2f13b927\"><tr><td></td><td class=\"t m0 xcdf h13 y2391 ff75 fs6 fc1 sc0 ls12 ws44\">Quoted prices </td><td class=\"t m0 xcb5 h13 y2391 ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td class=\"t m0 xce0 h13 y2391 ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td></td></tr><tr><td></td><td class=\"t m0 xce1 h13 y2392 ff75 fs6 fc1 sc0 ls26 ws3\">in ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve </td><td class=\"t m0 xce2 h13 y2392 ff75 fs6 fc1 sc0 ls27 ws45\">observable </td><td class=\"t m0 xce3 h13 y2392 ff75 fs6 fc1 sc0 ls27 ws45\">unobservable </td><td></td></tr><tr><td></td><td class=\"t m0 xce4 h13 y2393 ff75 fs6 fc1 sc0 ls110 ws183\">markets </td><td class=\"t m0 xce5 h13 y2393 ff75 fs6 fc1 sc0 lse5 ws125\">inputs </td><td class=\"t m0 xce6 h13 y2393 ff75 fs6 fc1 sc0 lse5 ws125\">inputs<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xce4 h13 y2394 ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xce7 h13 y2394 ff75 fs6 fc1 sc0 ls5f wsbe\">(Level 2)<span class=\"_ _314\"> </span></td><td class=\"c n xce8 y2395 w6f6 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xce9 y2395 w464 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y205c w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xcea y205c w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xceb y205c w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcec y205c w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xced y205c w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2396 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial assets<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2184 w7b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"lsa1 wscc\">Derivativ<span class=\"_ _0\"></span>e i<span class=\"_ _0\"></span>nstruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc1 y2184 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcee y2184 w7c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4<span class=\"_ _2\"></span>,785<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y2184 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf0 y2184 w7c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4,7<span class=\"_ _2\"></span>85<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2185 w7b8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf1 y2185 w7c3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _0\"></span>,673<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf2 y2185 w7c4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _0\"></span>,673<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y236f w789 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther financial assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcf3 y236f w767 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">24,<span class=\"_ _2\"></span>33<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf4 y236f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf5 y236f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf6 y236f w76e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>,3<span class=\"_ _2\"></span>30<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xc11 y2061 w767 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">24,<span class=\"_ _2\"></span>33<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf7 y2061 w762 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf8 y2061 w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf9 y2061 w7c5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb0 wsdb\">686<span class=\"_ _2\"></span>,78<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2188 w773 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc22 y2188 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xccf y2188 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfa y2188 w1ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfb y2188 w55d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21b5 w774 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfc y21b5 wd5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">130<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfd y21b5 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfe y21b5 w33a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xcff y21b5 w775 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">148<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y218b wc2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Receivables<span class=\"_ _314\"> </span></div></td><td class=\"c n xd00 y218b w542 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xd01 y218b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc28 y218b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd02 y218b w33a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2397 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b6 w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y21b6 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd03 y21b6 w6c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xd04 y21b6 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2d y21b6 w777 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2398 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213d w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd05 y213d w392 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe7 y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc31 y213d w779 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y20d9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y20d9 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xd06 y20d9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc35 y20d9 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y20da w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y20da w5c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x3c5 y20da w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc36 y20da wa5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2069 w7be h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial assets measured at<span class=\"_ _0\"></span> fair value</div><div class=\"t m0 xcdc h195 y2143 ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd07 y2069 w7c6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls21 ws8a\">24<span class=\"_ _2\"></span>,478<span class=\"_ _314\"> </span></div></td><td class=\"c n xd08 y2069 w7c7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,654<span class=\"_ _314\"> </span></div></td><td class=\"c n xd09 y2069 w52 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d ws97\">79<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0a y2069 w7c8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">6<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _2\"></span>1<span class=\"_ _1\"></span>1<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during the year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><table class=\"s w7b5 h27c\" id=\"_732657dc-2afc-4557-a212-4134762c25b7\"><tr><td></td><td class=\"t m0 xcb1 hb y2387 ff76 fs6 fc1 sc0 ls26 ws3\">Qu<span class=\"_ _2\"></span>oted p<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>es </td><td class=\"t m0 xcb2 hb y2387 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td class=\"t m0 xcb3 hb y2387 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td></td></tr><tr><td></td><td class=\"t m0 xcb4 hb y2388 ff76 fs6 fc1 sc0 lsf1 wscc\">in<span class=\"_ _0\"></span> active </td><td class=\"t m0 xcb5 hb y2388 ff76 fs6 fc1 sc0 ls27 ws45\">obser<span class=\"_ _2\"></span>vable </td><td class=\"t m0 xcb6 hb y2388 ff76 fs6 fc1 sc0 ls27 ws45\">unobser<span class=\"_ _2\"></span>vable </td><td></td></tr><tr><td></td><td class=\"t m0 xcb7 hb y2389 ff76 fs6 fc1 sc0 ls8d ws184\">ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s </td><td class=\"t m0 xcb8 hb y2389 ff76 fs6 fc1 sc0 ls4 ws3\">inpu<span class=\"_ _2\"></span>ts </td><td class=\"t m0 xcb9 hb y2389 ff76 fs6 fc1 sc0 ls12 ws81\">input<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xcb7 hb y238a ff76 fs6 fc1 sc0 lsf1 wscc\">(Le<span class=\"_ _0\"></span>vel<span class=\"_ _0\"></span> 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xcba hb y238a ff76 fs6 fc1 sc0 ls109 ws110\">(Lev<span class=\"_ _2\"></span>el 2)<span class=\"_ _314\"> </span></td><td class=\"c n xcbb y238b w6fd h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbc y238b w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y238c w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbd y238c w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbe y238c w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbf y238c w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc0 y238c w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y238d ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial assets<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2373 w7b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"lsa1 wscc\">Derivativ<span class=\"_ _0\"></span>e i<span class=\"_ _0\"></span>nstruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc1 y2373 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc2 y2373 w7b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc3 y2373 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc4 y2373 w7b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2185 w7b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y2185 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc5 y2185 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">590<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x83b y2185 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc6 y2185 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2186 w789 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther financial assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc7 y2186 w7ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>34<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc8 y2186 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc9 y2186 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcca y2186 w7bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">18<span class=\"_ _2\"></span>,13<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xccb y2374 w7bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>34<span class=\"_ _314\"> </span></div></td><td class=\"c n xccc y2374 w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594,<span class=\"_ _2\"></span>555<span class=\"_ _314\"> </span></div></td><td class=\"c n xccd y2374 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcce y2374 w7bd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">612,<span class=\"_ _2\"></span>689<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2188 w773 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc22 y2188 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xccf y2188 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd0 y2188 wd7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd1 y2188 wd7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y218a w774 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc26 y218a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd2 y218a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd3 y218a w50 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc64 y218a w50 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y238e ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218c w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd4 y218c w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd5 y218c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd6 y218c w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y238f ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22cc w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y22cc w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd7 y22cc w401 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td><td class=\"c n x387 y22cc w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd8 y22cc w401 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2390 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2176 w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y2176 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd9 y2176 w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xcda y2176 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcdb y2176 w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22cd w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y22cd w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd9 y22cd w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xcda y22cd w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcdb y22cd w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2069 w7be h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial assets measured at<span class=\"_ _0\"></span> fair value</div><div class=\"t m0 xcdc h195 y210f ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xccb y2110 w7bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>34<span class=\"_ _314\"> </span></div></td><td class=\"c n xccc y2110 w797 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">594<span class=\"_ _2\"></span>,66<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xcdd y2110 w7bf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td><td class=\"c n xcde y2110 w7c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">612,<span class=\"_ _2\"></span>86<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span>7<span class=\"_ _0\"></span>.3 Fa<span class=\"_ _2\"></span>ir valu<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span>Other than borrowings, we have assessed that<span class=\"_ _0\"></span> the fair values of financial assets and financial liabilities categorised as being at amortised cost approximate<span class=\"_ _0\"></span> to their carr<span class=\"_ _2\"></span>ying values. The<span class=\"_ _0\"></span> fair values of the Group<span class=\"_ _0\"></span>\u2019s borrowings are disclosed<span class=\"_ _0\"></span> in note 16.1.<span class=\"_ _314\"> </span>Fair<span class=\"_ _0\"></span> value measurement hierar<span class=\"_ _0\"></span>chy<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s financial assets and financial liabilities held at fair<span class=\"_ _0\"></span> value con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>t larg<span class=\"_ _2\"></span>ely of s<span class=\"_ _2\"></span>ecur<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies w<span class=\"_ _2\"></span>hich a<span class=\"_ _2\"></span>re rest<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d in use fo<span class=\"_ _2\"></span>r the o<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons of the Group<span class=\"_ _0\"></span>\u2019s C<span class=\"_ _0\"></span>CP<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> as managers of their r<span class=\"_ _0\"></span>espec<span class=\"_ _2\"></span>tive clearing and guarantee systems.<span class=\"_ _314\"> </span>The following tables<span class=\"_ _0\"></span> provide the fair value measur<span class=\"_ _0\"></span>ement hierarchy of<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s financial asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and financial liabilities measured at fair<span class=\"_ _0\"></span> value<span class=\"_ _314\"> </span>Financial liabilities<span class=\"_ _314\"> </span><table class=\"s w7c1 h27f\" id=\"_50355c9e-4d14-4df4-bb60-35fa4ec2e999\"><tr><td></td><td class=\"t m0 xcdf h13 y2399 ff75 fs6 fc1 sc0 ls12 ws44\">Quoted prices </td><td class=\"t m0 xcb5 h13 y2399 ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td class=\"t m0 xce0 h13 y2399 ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td></td></tr><tr><td></td><td class=\"t m0 xce1 h13 y239a ff75 fs6 fc1 sc0 ls26 ws3\">in ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve </td><td class=\"t m0 xce2 h13 y239a ff75 fs6 fc1 sc0 ls27 ws45\">observable </td><td class=\"t m0 xce3 h13 y239a ff75 fs6 fc1 sc0 ls27 ws45\">unobservable </td><td></td></tr><tr><td></td><td class=\"t m0 xce4 h13 y239b ff75 fs6 fc1 sc0 ls110 ws183\">markets </td><td class=\"t m0 xce5 h13 y239b ff75 fs6 fc1 sc0 lse5 ws125\">inputs </td><td class=\"t m0 xce6 h13 y239b ff75 fs6 fc1 sc0 lse5 ws125\">inputs<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xce4 h13 y239c ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xce7 h13 y239c ff75 fs6 fc1 sc0 ls5f wsbe\">(Level 2)<span class=\"_ _314\"> </span></td><td class=\"c n xce8 y239d w6f6 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xce9 y239d w464 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21b9 w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xcea y21b9 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xceb y21b9 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcec y21b9 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xced y21b9 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y239e ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial liabilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218a w7b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"lsa1 wscc\">Derivativ<span class=\"_ _0\"></span>e i<span class=\"_ _0\"></span>nstruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc1 y218a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcee y218a w7c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4<span class=\"_ _2\"></span>,785<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y218a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf0 y218a w7c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4,7<span class=\"_ _2\"></span>85<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y239f w7b8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y239f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf1 y239f w7c3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _0\"></span>,673<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y239f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf2 y239f w7c4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _0\"></span>,673<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xd0b y2073 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0c y2073 w7c9 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0d y2073 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0e y2073 w76f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662,<span class=\"_ _2\"></span>458<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a0 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22cc w778 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y22cc w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2f y22cc w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0f y22cc w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x215 y22cc w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a1 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2176 w77a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y2176 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd10 y2176 w56 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x301 y2176 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd11 y2176 w56 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22cd w77b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y22cd w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd4 y22cd w7ca h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc9 y22cd w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x3aa y22cd w7ca h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2069 w7cb h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial liabilities<span class=\"_ _0\"></span> measured at fair value</div><div class=\"t m0 xd12 h195 y210f ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd13 y2069 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd14 y2069 w7cc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662,4<span class=\"_ _2\"></span>83<span class=\"_ _314\"> </span></div></td><td class=\"c n xd15 y2069 w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd16 y2069 w7cc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,483<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during the year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><table class=\"s w7cd h280\" id=\"_0f7db60f-5966-4805-b0be-53beb7a001e2\"><tr><td></td><td class=\"t m0 xcb1 hb y23a2 ff76 fs6 fc1 sc0 ls26 ws3\">Qu<span class=\"_ _2\"></span>oted p<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>es </td><td class=\"t m0 xcb2 hb y23a2 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td class=\"t m0 xcb3 hb y23a2 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td></td></tr><tr><td></td><td class=\"t m0 xcb4 hb y23a3 ff76 fs6 fc1 sc0 lsf1 wscc\">in<span class=\"_ _0\"></span> active </td><td class=\"t m0 xcb5 hb y23a3 ff76 fs6 fc1 sc0 ls27 ws45\">obser<span class=\"_ _2\"></span>vable </td><td class=\"t m0 xcb6 hb y23a3 ff76 fs6 fc1 sc0 ls27 ws45\">unobser<span class=\"_ _2\"></span>vable </td><td></td></tr><tr><td></td><td class=\"t m0 xcb7 hb y23a4 ff76 fs6 fc1 sc0 ls8d ws184\">ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s </td><td class=\"t m0 xcb8 hb y23a4 ff76 fs6 fc1 sc0 ls4 ws3\">inpu<span class=\"_ _2\"></span>ts </td><td class=\"t m0 xcb9 hb y23a4 ff76 fs6 fc1 sc0 ls12 ws81\">input<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xcb7 hb y23a5 ff76 fs6 fc1 sc0 lsf1 wscc\">(Le<span class=\"_ _0\"></span>vel<span class=\"_ _0\"></span> 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xcba hb y23a5 ff76 fs6 fc1 sc0 ls109 ws110\">(Lev<span class=\"_ _2\"></span>el 2)<span class=\"_ _314\"> </span></td><td class=\"c n xcbb y23a6 w6fd h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbc y23a6 w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2184 w15d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n xc43 y2184 w35 h27e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc44 y2184 w5fb h27e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x23f y2184 w35 h27e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc45 y2184 w35 h27e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a7 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial liabilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2186 w7b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"lsa1 wscc\">Derivativ<span class=\"_ _0\"></span>e i<span class=\"_ _0\"></span>nstruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc1 y2186 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc2 y2186 w7b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc3 y2186 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc4 y2186 w7b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w7b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y2187 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc5 y2187 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">590<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x83b y2187 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc6 y2187 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xd0b y2188 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd17 y2188 w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">59<span class=\"_ _2\"></span>4,555<span class=\"_ _314\"> </span></div></td><td class=\"c n xd18 y2188 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd19 y2188 w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">59<span class=\"_ _2\"></span>4,555<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a8 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218b w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y218b w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1a y218b w7af h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y218b w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1b y218b w6e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a9 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218d w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y218d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb56 y218d w748 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xc86 y218d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1c y218d w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23aa ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213d w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1d y213d w7b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0f y213d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1e y213d w7b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2176 w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y2176 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1f y2176 w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xd20 y2176 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x24a y2176 w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y20da w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd4 y20da w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd5 y20da w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd6 y20da w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2069 w7cb h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial liabilities<span class=\"_ _0\"></span> measured at fair value</div><div class=\"t m0 xd12 h195 y210f ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0b y2110 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd21 y2110 w7b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">594<span class=\"_ _2\"></span>,63<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xd22 y2110 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd23 y2110 w7ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during 202<span class=\"_ _0\"></span>4.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-564": {
   "value": "Financial assets <table class=\"s w7c1 h27d\" id=\"_f9c15e01-b161-467c-83c2-06af2f13b927\"><tr><td></td><td class=\"t m0 xcdf h13 y2391 ff75 fs6 fc1 sc0 ls12 ws44\">Quoted prices </td><td class=\"t m0 xcb5 h13 y2391 ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td class=\"t m0 xce0 h13 y2391 ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td></td></tr><tr><td></td><td class=\"t m0 xce1 h13 y2392 ff75 fs6 fc1 sc0 ls26 ws3\">in ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve </td><td class=\"t m0 xce2 h13 y2392 ff75 fs6 fc1 sc0 ls27 ws45\">observable </td><td class=\"t m0 xce3 h13 y2392 ff75 fs6 fc1 sc0 ls27 ws45\">unobservable </td><td></td></tr><tr><td></td><td class=\"t m0 xce4 h13 y2393 ff75 fs6 fc1 sc0 ls110 ws183\">markets </td><td class=\"t m0 xce5 h13 y2393 ff75 fs6 fc1 sc0 lse5 ws125\">inputs </td><td class=\"t m0 xce6 h13 y2393 ff75 fs6 fc1 sc0 lse5 ws125\">inputs<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xce4 h13 y2394 ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xce7 h13 y2394 ff75 fs6 fc1 sc0 ls5f wsbe\">(Level 2)<span class=\"_ _314\"> </span></td><td class=\"c n xce8 y2395 w6f6 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xce9 y2395 w464 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y205c w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xcea y205c w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xceb y205c w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcec y205c w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xced y205c w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2396 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial assets<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2184 w7b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"lsa1 wscc\">Derivativ<span class=\"_ _0\"></span>e i<span class=\"_ _0\"></span>nstruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc1 y2184 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcee y2184 w7c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4<span class=\"_ _2\"></span>,785<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y2184 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf0 y2184 w7c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4,7<span class=\"_ _2\"></span>85<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2185 w7b8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf1 y2185 w7c3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _0\"></span>,673<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y2185 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf2 y2185 w7c4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _0\"></span>,673<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y236f w789 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther financial assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcf3 y236f w767 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">24,<span class=\"_ _2\"></span>33<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf4 y236f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf5 y236f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf6 y236f w76e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">24<span class=\"_ _2\"></span>,3<span class=\"_ _2\"></span>30<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xc11 y2061 w767 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa2 wscd\">24,<span class=\"_ _2\"></span>33<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf7 y2061 w762 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf8 y2061 w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf9 y2061 w7c5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb0 wsdb\">686<span class=\"_ _2\"></span>,78<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2188 w773 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc22 y2188 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xccf y2188 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfa y2188 w1ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfb y2188 w55d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">61<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21b5 w774 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfc y21b5 wd5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">130<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfd y21b5 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcfe y21b5 w33a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xcff y21b5 w775 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">148<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y218b wc2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">Receivables<span class=\"_ _314\"> </span></div></td><td class=\"c n xd00 y218b w542 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xd01 y218b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc28 y218b w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd02 y218b w33a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2397 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b6 w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y21b6 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd03 y21b6 w6c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xd04 y21b6 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2d y21b6 w777 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2398 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213d w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd05 y213d w392 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td><td class=\"c n xbe7 y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc31 y213d w779 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">115<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y20d9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y20d9 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xd06 y20d9 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc35 y20d9 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y20da w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc33 y20da w5c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td class=\"c n x3c5 y20da w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc36 y20da wa5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2069 w7be h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial assets measured at<span class=\"_ _0\"></span> fair value</div><div class=\"t m0 xcdc h195 y2143 ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd07 y2069 w7c6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls21 ws8a\">24<span class=\"_ _2\"></span>,478<span class=\"_ _314\"> </span></div></td><td class=\"c n xd08 y2069 w7c7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,654<span class=\"_ _314\"> </span></div></td><td class=\"c n xd09 y2069 w52 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d ws97\">79<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0a y2069 w7c8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">6<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>2<span class=\"_ _2\"></span>1<span class=\"_ _1\"></span>1<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during the year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><table class=\"s w7b5 h27c\" id=\"_732657dc-2afc-4557-a212-4134762c25b7\"><tr><td></td><td class=\"t m0 xcb1 hb y2387 ff76 fs6 fc1 sc0 ls26 ws3\">Qu<span class=\"_ _2\"></span>oted p<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>es </td><td class=\"t m0 xcb2 hb y2387 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td class=\"t m0 xcb3 hb y2387 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td></td></tr><tr><td></td><td class=\"t m0 xcb4 hb y2388 ff76 fs6 fc1 sc0 lsf1 wscc\">in<span class=\"_ _0\"></span> active </td><td class=\"t m0 xcb5 hb y2388 ff76 fs6 fc1 sc0 ls27 ws45\">obser<span class=\"_ _2\"></span>vable </td><td class=\"t m0 xcb6 hb y2388 ff76 fs6 fc1 sc0 ls27 ws45\">unobser<span class=\"_ _2\"></span>vable </td><td></td></tr><tr><td></td><td class=\"t m0 xcb7 hb y2389 ff76 fs6 fc1 sc0 ls8d ws184\">ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s </td><td class=\"t m0 xcb8 hb y2389 ff76 fs6 fc1 sc0 ls4 ws3\">inpu<span class=\"_ _2\"></span>ts </td><td class=\"t m0 xcb9 hb y2389 ff76 fs6 fc1 sc0 ls12 ws81\">input<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xcb7 hb y238a ff76 fs6 fc1 sc0 lsf1 wscc\">(Le<span class=\"_ _0\"></span>vel<span class=\"_ _0\"></span> 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xcba hb y238a ff76 fs6 fc1 sc0 ls109 ws110\">(Lev<span class=\"_ _2\"></span>el 2)<span class=\"_ _314\"> </span></td><td class=\"c n xcbb y238b w6fd h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbc y238b w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y238c w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbd y238c w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbe y238c w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbf y238c w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc0 y238c w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y238d ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial assets<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2373 w7b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"lsa1 wscc\">Derivativ<span class=\"_ _0\"></span>e i<span class=\"_ _0\"></span>nstruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc1 y2373 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc2 y2373 w7b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc3 y2373 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc4 y2373 w7b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2185 w7b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y2185 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc5 y2185 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">590<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x83b y2185 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc6 y2185 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2186 w789 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">O<span class=\"_ _2\"></span>ther financial assets<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc7 y2186 w7ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>34<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc8 y2186 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc9 y2186 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcca y2186 w7bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">18<span class=\"_ _2\"></span>,13<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xccb y2374 w7bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>34<span class=\"_ _314\"> </span></div></td><td class=\"c n xccc y2374 w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">594,<span class=\"_ _2\"></span>555<span class=\"_ _314\"> </span></div></td><td class=\"c n xccd y2374 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcce y2374 w7bd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">612,<span class=\"_ _2\"></span>689<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2188 w773 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments<span class=\"_ _314\"> </span></div></td><td class=\"c n xc22 y2188 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xccf y2188 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd0 y2188 wd7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd1 y2188 wd7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">50<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y218a w774 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Investment<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets \u2013 debt instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xc26 y218a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd2 y218a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd3 y218a w50 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xc64 y218a w50 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y238e ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218c w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd4 y218c w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd5 y218c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd6 y218c w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y238f ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22cc w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y22cc w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd7 y22cc w401 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td><td class=\"c n x387 y22cc w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd8 y22cc w401 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa7 wsd3\">57<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y2390 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2176 w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y2176 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd9 y2176 w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xcda y2176 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcdb y2176 w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22cd w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y22cd w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd9 y22cd w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td><td class=\"c n xcda y22cd w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcdb y22cd w53 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2069 w7be h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial assets measured at<span class=\"_ _0\"></span> fair value</div><div class=\"t m0 xcdc h195 y210f ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xccb y2110 w7bc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">1<span class=\"_ _2\"></span>8,1<span class=\"_ _2\"></span>34<span class=\"_ _314\"> </span></div></td><td class=\"c n xccc y2110 w797 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">594<span class=\"_ _2\"></span>,66<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xcdd y2110 w7bf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">58<span class=\"_ _314\"> </span></div></td><td class=\"c n xcde y2110 w7c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">612,<span class=\"_ _2\"></span>86<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>17<span class=\"_ _25e\"></span>. Financial asset<span class=\"_ _2\"></span>s and f<span class=\"_ _2\"></span>inancial liabilities continu<span class=\"_ _2\"></span>ed<span class=\"_ _314\"> </span>Notes to<span class=\"_ _0\"></span> the consolidated financial statement<span class=\"_ _2\"></span>s c<span class=\"_ _0\"></span>ontinue<span class=\"_ _2\"></span>d<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>7<span class=\"_ _0\"></span>.3 Fa<span class=\"_ _2\"></span>ir valu<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span>Other than borrowings, we have assessed that<span class=\"_ _0\"></span> the fair values of financial assets and financial liabilities categorised as being at amortised cost approximate<span class=\"_ _0\"></span> to their carr<span class=\"_ _2\"></span>ying values. The<span class=\"_ _0\"></span> fair values of the Group<span class=\"_ _0\"></span>\u2019s borrowings are disclosed<span class=\"_ _0\"></span> in note 16.1.<span class=\"_ _314\"> </span>Fair<span class=\"_ _0\"></span> value measurement hierar<span class=\"_ _0\"></span>chy<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s financial assets and financial liabilities held at fair<span class=\"_ _0\"></span> value con<span class=\"_ _2\"></span>sis<span class=\"_ _2\"></span>t larg<span class=\"_ _2\"></span>ely of s<span class=\"_ _2\"></span>ecur<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies w<span class=\"_ _2\"></span>hich a<span class=\"_ _2\"></span>re rest<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d in use fo<span class=\"_ _2\"></span>r the o<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons of the Group<span class=\"_ _0\"></span>\u2019s C<span class=\"_ _0\"></span>CP<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> as managers of their r<span class=\"_ _0\"></span>espec<span class=\"_ _2\"></span>tive clearing and guarantee systems.<span class=\"_ _314\"> </span>The following tables<span class=\"_ _0\"></span> provide the fair value measur<span class=\"_ _0\"></span>ement hierarchy of<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s financial asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and financial liabilities measured at fair<span class=\"_ _0\"></span> value<span class=\"_ _314\"> </span>Financial liabilities<span class=\"_ _314\"> </span><table class=\"s w7c1 h27f\" id=\"_50355c9e-4d14-4df4-bb60-35fa4ec2e999\"><tr><td></td><td class=\"t m0 xcdf h13 y2399 ff75 fs6 fc1 sc0 ls12 ws44\">Quoted prices </td><td class=\"t m0 xcb5 h13 y2399 ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td class=\"t m0 xce0 h13 y2399 ff75 fs6 fc1 sc0 lse5 ws125\">Significant </td><td></td></tr><tr><td></td><td class=\"t m0 xce1 h13 y239a ff75 fs6 fc1 sc0 ls26 ws3\">in ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve </td><td class=\"t m0 xce2 h13 y239a ff75 fs6 fc1 sc0 ls27 ws45\">observable </td><td class=\"t m0 xce3 h13 y239a ff75 fs6 fc1 sc0 ls27 ws45\">unobservable </td><td></td></tr><tr><td></td><td class=\"t m0 xce4 h13 y239b ff75 fs6 fc1 sc0 ls110 ws183\">markets </td><td class=\"t m0 xce5 h13 y239b ff75 fs6 fc1 sc0 lse5 ws125\">inputs </td><td class=\"t m0 xce6 h13 y239b ff75 fs6 fc1 sc0 lse5 ws125\">inputs<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xce4 h13 y239c ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xce7 h13 y239c ff75 fs6 fc1 sc0 ls5f wsbe\">(Level 2)<span class=\"_ _314\"> </span></td><td class=\"c n xce8 y239d w6f6 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xce9 y239d w464 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y21b9 w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xcea y21b9 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xceb y21b9 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xcec y21b9 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xced y21b9 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y239e ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial liabilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218a w7b6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"lsa1 wscc\">Derivativ<span class=\"_ _0\"></span>e i<span class=\"_ _0\"></span>nstruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc1 y218a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcee y218a w7c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4<span class=\"_ _2\"></span>,785<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y218a w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf0 y218a w7c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4,7<span class=\"_ _2\"></span>85<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y239f w7b8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y239f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf1 y239f w7c3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _0\"></span>,673<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y239f w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcf2 y239f w7c4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">657<span class=\"_ _0\"></span>,673<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xd0b y2073 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0c y2073 w7c9 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">6<span class=\"_ _2\"></span>62,45<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0d y2073 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0e y2073 w76f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662,<span class=\"_ _2\"></span>458<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a0 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22cc w778 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y22cc w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xc2f y22cc w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0f y22cc w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x215 y22cc w3e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a1 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2176 w77a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y2176 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd10 y2176 w56 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n x301 y2176 w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd11 y2176 w56 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22cd w77b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y22cd w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd4 y22cd w7ca h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc9 y22cd w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x3aa y22cd w7ca h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2069 w7cb h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial liabilities<span class=\"_ _0\"></span> measured at fair value</div><div class=\"t m0 xd12 h195 y210f ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd13 y2069 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd14 y2069 w7cc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662,4<span class=\"_ _2\"></span>83<span class=\"_ _314\"> </span></div></td><td class=\"c n xd15 y2069 w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd16 y2069 w7cc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,483<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during the year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><table class=\"s w7cd h280\" id=\"_0f7db60f-5966-4805-b0be-53beb7a001e2\"><tr><td></td><td class=\"t m0 xcb1 hb y23a2 ff76 fs6 fc1 sc0 ls26 ws3\">Qu<span class=\"_ _2\"></span>oted p<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>es </td><td class=\"t m0 xcb2 hb y23a2 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td class=\"t m0 xcb3 hb y23a2 ff76 fs6 fc1 sc0 ls12 ws81\">Signif<span class=\"_ _2\"></span>icant </td><td></td></tr><tr><td></td><td class=\"t m0 xcb4 hb y23a3 ff76 fs6 fc1 sc0 lsf1 wscc\">in<span class=\"_ _0\"></span> active </td><td class=\"t m0 xcb5 hb y23a3 ff76 fs6 fc1 sc0 ls27 ws45\">obser<span class=\"_ _2\"></span>vable </td><td class=\"t m0 xcb6 hb y23a3 ff76 fs6 fc1 sc0 ls27 ws45\">unobser<span class=\"_ _2\"></span>vable </td><td></td></tr><tr><td></td><td class=\"t m0 xcb7 hb y23a4 ff76 fs6 fc1 sc0 ls8d ws184\">ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s </td><td class=\"t m0 xcb8 hb y23a4 ff76 fs6 fc1 sc0 ls4 ws3\">inpu<span class=\"_ _2\"></span>ts </td><td class=\"t m0 xcb9 hb y23a4 ff76 fs6 fc1 sc0 ls12 ws81\">input<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xcb7 hb y23a5 ff76 fs6 fc1 sc0 lsf1 wscc\">(Le<span class=\"_ _0\"></span>vel<span class=\"_ _0\"></span> 1)<span class=\"_ _314\"> </span></td><td class=\"t m0 xcba hb y23a5 ff76 fs6 fc1 sc0 ls109 ws110\">(Lev<span class=\"_ _2\"></span>el 2)<span class=\"_ _314\"> </span></td><td class=\"c n xcbb y23a6 w6fd h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">(Le<span class=\"_ _2\"></span>vel 3<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xcbc y23a6 w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2184 w15d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n xc43 y2184 w35 h27e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc44 y2184 w5fb h27e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x23f y2184 w35 h27e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xc45 y2184 w35 h27e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a7 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing business financial liabilities<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2186 w7b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"lsa1 wscc\">Derivativ<span class=\"_ _0\"></span>e i<span class=\"_ _0\"></span>nstruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xcc1 y2186 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc2 y2186 w7b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc3 y2186 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc4 y2186 w7b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w7b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Non<span class=\"_ _2\"></span>-derivat<span class=\"_ _2\"></span>ive<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y2187 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc5 y2187 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">590<span class=\"_ _2\"></span>,18<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n x83b y2187 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcc6 y2187 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xd0b y2188 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd17 y2188 w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">59<span class=\"_ _2\"></span>4,555<span class=\"_ _314\"> </span></div></td><td class=\"c n xd18 y2188 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd19 y2188 w786 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">59<span class=\"_ _2\"></span>4,555<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a8 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218b w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y218b w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1a y218b w7af h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td><td class=\"c n xcef y218b w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1b y218b w6e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23a9 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments designated<span class=\"_ _0\"></span> as fair value<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y218d w776 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls39 ws9f\">I<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate swap<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2a y218d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xb56 y218d w748 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xc86 y218d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1c y218d w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x237 h193 y23aa ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments not design<span class=\"_ _0\"></span>ated as hedges<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y213d w778 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Cross-<span class=\"_ _2\"></span>currency interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc2e y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1d y213d w7b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0f y213d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1e y213d w7b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2176 w77a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Foreign ex<span class=\"_ _0\"></span>change forward contracts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y2176 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd1f y2176 w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xd20 y2176 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x24a y2176 w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w77b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"></span><span class=\"_ _24\"> </span><span class=\"ls89 wsda\">Embedded foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span></span></div></td><td class=\"c n xc32 y20da w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd4 y20da w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd5 y20da w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xcd6 y20da w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x231 y2069 w7cb h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal financial liabilities<span class=\"_ _0\"></span> measured at fair value</div><div class=\"t m0 xd12 h195 y210f ff75 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd0b y2110 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd21 y2110 w7b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">594<span class=\"_ _2\"></span>,63<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xd22 y2110 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd23 y2110 w7ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>There wer<span class=\"_ _0\"></span>e no transfers between levels<span class=\"_ _0\"></span> during 202<span class=\"_ _0\"></span>4.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-565": {
   "value": "<div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls2 ws2 gs272\">17<span class=\"_ _3\"></span>.4 Hedging ac<span class=\"_ _2\"></span>tivities and derivatives<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs273\">The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p hedg<span class=\"_ _2\"></span>es it<span class=\"_ _2\"></span>s ex<span class=\"_ _2\"></span>posu<span class=\"_ _2\"></span>re to forei<span class=\"_ _2\"></span>gn excha<span class=\"_ _2\"></span>nge an<span class=\"_ _2\"></span>d inter<span class=\"_ _2\"></span>est r<span class=\"_ _2\"></span>ate </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs274\">movements using derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments. The Group applies </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs275\">hedge accounting where<span class=\"_ _0\"></span> appropriate and has<span class=\"_ _0\"></span> designated some </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls46 ws7 gs276\">derivat<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> as net investment hedges and fair<span class=\"_ _0\"></span> value hedges. The Group </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs404\">also has some<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives which do<span class=\"_ _0\"></span> not qualif<span class=\"_ _2\"></span>y f<span class=\"_ _0\"></span>or hedge accounting </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs405\">or ha<span class=\"_ _2\"></span>ve not b<span class=\"_ _2\"></span>een de<span class=\"_ _2\"></span>sign<span class=\"_ _2\"></span>ated as h<span class=\"_ _2\"></span>edg<span class=\"_ _2\"></span>es.<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs407\">17<span class=\"_ _3\"></span>.4a Net investment hedges<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs408\">The Group uses<span class=\"_ _0\"></span> net investment hedges to hedge the curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y risk </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs409\">ar<span class=\"_ _2\"></span>isin<span class=\"_ _2\"></span>g from i<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>nves<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt in fo<span class=\"_ _2\"></span>reign o<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons. T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup ha<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs40a\">designated some<span class=\"_ _0\"></span> of its euro borrowings, Japanese yen<span class=\"_ _0\"></span> borrowings<span class=\"_ _2\"></span>, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs40b\">Swiss franc borrowings, cross-cur<span class=\"_ _2\"></span>rency inter<span class=\"_ _0\"></span>est rate swaps (used t<span class=\"_ _0\"></span>o </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs40c\">sw<span class=\"_ _2\"></span>ap a por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f it<span class=\"_ _2\"></span>s euro b<span class=\"_ _2\"></span>orrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s into U<span class=\"_ _2\"></span>S doll<span class=\"_ _2\"></span>ar deb<span class=\"_ _2\"></span>t), an<span class=\"_ _2\"></span>d forei<span class=\"_ _2\"></span>gn </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs40d\">exchange<span class=\"_ _0\"></span> for<span class=\"_ _2\"></span>ward<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges.<span class=\"_ _314\"> </span></div>There is<span class=\"_ _0\"></span> an economic relationship<span class=\"_ _0\"></span> bet<span class=\"_ _2\"></span>ween the hedging instrument<span class=\"_ _2\"></span>s and hedged items as<span class=\"_ _0\"></span> the borrowings and derivati<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> (hedgin<span class=\"_ _2\"></span>g instr<span class=\"_ _2\"></span>uments) ar<span class=\"_ _0\"></span>e matched by<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> investmen<span class=\"_ _2\"></span>ts in f<span class=\"_ _0\"></span>oreign op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>s (he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s). The G<span class=\"_ _2\"></span>roup h<span class=\"_ _2\"></span>as es<span class=\"_ _2\"></span>tab<span class=\"_ _2\"></span>lish<span class=\"_ _2\"></span>ed a rat<span class=\"_ _2\"></span>io of 1<span class=\"_ _2\"></span>:1 for the hedging r<span class=\"_ _0\"></span>elationships as<span class=\"_ _0\"></span> the underlying foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> risk of the hedging instrumen<span class=\"_ _2\"></span>ts is identical to<span class=\"_ _0\"></span> the investment<span class=\"_ _2\"></span>s. T<span class=\"_ _3\"></span>o ensure the he<span class=\"_ _2\"></span>dge is ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup m<span class=\"_ _2\"></span>akes sure t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he no<span class=\"_ _2\"></span>mina<span class=\"_ _2\"></span>l valu<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e hedging instr<span class=\"_ _2\"></span>uments is always less than<span class=\"_ _0\"></span> the value of the investments<span class=\"_ _2\"></span>. Hedge inef<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>tiveness arises if the nominal<span class=\"_ _0\"></span> value of the hedging instr<span class=\"_ _2\"></span>ument e<span class=\"_ _0\"></span>xceeds the value o<span class=\"_ _0\"></span>f the underly<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ment. The hedging instrument<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e detailed on the next page<span class=\"_ _314\"> <span class=\"_ _314\"> </span></span><div class=\"t m0 h15 ff77 fs2 fc1 sc0 ls7 wsa gs4eb\">Bonds and cross-<span class=\"_ _2\"></span>curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y int<span class=\"_ _0\"></span>erest rate swaps<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4ec\">In 20<span class=\"_ _2\"></span>17 an<span class=\"_ _2\"></span>d 2018<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p issu<span class=\"_ _2\"></span>ed th<span class=\"_ _2\"></span>ree \u20ac5<span class=\"_ _2\"></span>00 m<span class=\"_ _2\"></span>illio<span class=\"_ _2\"></span>n bon<span class=\"_ _2\"></span>ds, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4ed\">maturing in September<span class=\"_ _0\"></span> 202<span class=\"_ _3\"></span>4, December 20<span class=\"_ _0\"></span>27 and September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>9 </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4ee\">(se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>6.1)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4ef\">\u20ac200 million of<span class=\"_ _0\"></span> the bond maturing in September<span class=\"_ _0\"></span> 2029<span class=\"_ _0\"></span> had been </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4f0\">swapped to US$239<span class=\"_ _0\"></span> million through a series o<span class=\"_ _0\"></span>f cross-<span class=\"_ _2\"></span>currency </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4f1\">int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t rate s<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>s, mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g on th<span class=\"_ _2\"></span>e sam<span class=\"_ _2\"></span>e dates a<span class=\"_ _2\"></span>s the b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>. The </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4f2\">cross-<span class=\"_ _2\"></span>currency inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> rate swaps effec<span class=\"_ _2\"></span>tively exc<span class=\"_ _0\"></span>hange the obligations </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4f3\">and c<span class=\"_ _2\"></span>oupo<span class=\"_ _2\"></span>ns of t<span class=\"_ _2\"></span>he bon<span class=\"_ _2\"></span>ds fro<span class=\"_ _2\"></span>m euro<span class=\"_ _2\"></span>s into US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>rs<span class=\"_ _2\"></span>. The co<span class=\"_ _2\"></span>mbin<span class=\"_ _2\"></span>ed </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4f4\">bond and cross-currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> interest rate swaps hav<span class=\"_ _0\"></span>e been designated </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4f5\">as hedging instrument<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> net investment in US dollar<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4f6\">repor<span class=\"_ _2\"></span>ting subsidi<span class=\"_ _0\"></span>aries<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4f7\">During the year<span class=\"_ _0\"></span>, re<span class=\"_ _0\"></span>trospec<span class=\"_ _2\"></span>tive hedge effec<span class=\"_ _2\"></span>tiveness testing found </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4f8\">the \u20ac200 million bond and<span class=\"_ _0\"></span> cross-<span class=\"_ _2\"></span>currency interest rate<span class=\"_ _0\"></span> swaps failed </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4f9\">to me<span class=\"_ _2\"></span>et the e<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>enes<span class=\"_ _2\"></span>s cri<span class=\"_ _2\"></span>teri<span class=\"_ _2\"></span>a from F<span class=\"_ _2\"></span>ebr<span class=\"_ _2\"></span>uar<span class=\"_ _2\"></span>y 2025. Th<span class=\"_ _2\"></span>is resu<span class=\"_ _2\"></span>lted<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4fa\">in a \u00a315<span class=\"_ _0\"></span> million foreign<span class=\"_ _0\"></span> exchange gain<span class=\"_ _0\"></span> and a \u00a33 million fair value<span class=\"_ _0\"></span> loss </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4fb\">on derivative f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments recorded within finance income </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4fc\">and f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>ance co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s (se<span class=\"_ _2\"></span>e note 5<span class=\"_ _2\"></span>.1). Th<span class=\"_ _2\"></span>e hedg<span class=\"_ _2\"></span>e was re<span class=\"_ _2\"></span>desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d on </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4fd\">30 J<span class=\"_ _2\"></span>une 2025. I<span class=\"_ _2\"></span>t has si<span class=\"_ _2\"></span>nce be<span class=\"_ _2\"></span>en hig<span class=\"_ _2\"></span>hly ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive a<span class=\"_ _2\"></span>nd is ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs4fe\">to be s<span class=\"_ _2\"></span>o in fu<span class=\"_ _2\"></span>ture p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>ds.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs4ff\">The \u20ac500 million bond maturing<span class=\"_ _0\"></span> in December 20<span class=\"_ _0\"></span>27 and the<span class=\"_ _0\"></span> remaining </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs500\">\u20ac<span class=\"_ _2\"></span>30<span class=\"_ _2\"></span>0 mill<span class=\"_ _2\"></span>ion of t<span class=\"_ _2\"></span>he bo<span class=\"_ _2\"></span>nd mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Se<span class=\"_ _2\"></span>ptemb<span class=\"_ _2\"></span>er 2029, wh<span class=\"_ _2\"></span>ich ha<span class=\"_ _2\"></span>s not </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs501\">be<span class=\"_ _2\"></span>en sw<span class=\"_ _2\"></span>appe<span class=\"_ _2\"></span>d into U<span class=\"_ _2\"></span>S doll<span class=\"_ _2\"></span>ars<span class=\"_ _2\"></span>, have b<span class=\"_ _2\"></span>een de<span class=\"_ _2\"></span>sign<span class=\"_ _2\"></span>ated a<span class=\"_ _2\"></span>s hedg<span class=\"_ _2\"></span>ing </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs502\">instr<span class=\"_ _2\"></span>uments in the Group<span class=\"_ _0\"></span>\u2019s net<span class=\"_ _0\"></span> investment in euro r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting subsidiaries.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs503\">In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d a CH<span class=\"_ _2\"></span>F150 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd and<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs504\">JP<span class=\"_ _2\"></span>Y<span class=\"_ _3\"></span>4<span class=\"_ _2\"></span>0 bil<span class=\"_ _2\"></span>lion o<span class=\"_ _2\"></span>f fi<span class=\"_ _2\"></span>xed ra<span class=\"_ _2\"></span>te bond<span class=\"_ _2\"></span>s (see n<span class=\"_ _2\"></span>ote 16<span class=\"_ _2\"></span>). The<span class=\"_ _2\"></span>se bo<span class=\"_ _2\"></span>nds hav<span class=\"_ _2\"></span>e bee<span class=\"_ _2\"></span>n </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs505\">designated as<span class=\"_ _0\"></span> hedging inst<span class=\"_ _2\"></span>ruments in the Group\u2019<span class=\"_ _0\"></span>s net<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ment in<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs506\">Swiss Franc and Japanese<span class=\"_ _0\"></span> Y<span class=\"_ _0\"></span>en r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting subsidiaries.<span class=\"_ _314\"> </span></div><div class=\"gs507\"><table class=\"s w7cf h281\" id=\"_6bdac7c1-a7fb-4547-8a7e-eaa15ba7cb30\"><tr><td class=\"c n x1eb y23ab w7d0 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 lse5 ws75\">Euro denominated bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xd24 y23ab w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd25 y23ab w7d1 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ac w7d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Carr<span class=\"_ _2\"></span>ying value of<span class=\"_ _0\"></span> debt on the bal<span class=\"_ _0\"></span>ance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd26 y23ac w7d3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a38<span class=\"_ _2\"></span>70m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd27 y23ac w7d4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">(<span class=\"_ _2\"></span>\u00a3<span class=\"_ _2\"></span>827m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ad w7d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd28 y23ad w7d6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">\u20ac1,000m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd29 y23ad w7d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">\u20ac1,000m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219c w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y219c w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2b y219c w7d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215a w7da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2c y215a w3b1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2d y215a w7db h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ae w7dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Change in<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying value o<span class=\"_ _0\"></span>f hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2e y23ae w7dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a33<span class=\"_ _2\"></span>9m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2f y23ae w7de h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">\u00a350m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w7df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd30 y219e w7e0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">\u00a339m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd31 y219e w7e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls39 ws0\">(\u00a3<span class=\"_ _2\"></span>50m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21a0 w7e2 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls76 ws5\">Cumulative gain held in<span class=\"_ _0\"></span> hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> for<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">continuing hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xd32 y21a0 w7e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">\u00a320<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd33 y21a0 w7e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">\u00a3<span class=\"_ _2\"></span>59m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y23af ff76 fs129 fc1 sc0 ls76 ws5\">Gain held in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> for relationships </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w7e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">for which<span class=\"_ _0\"></span> hedge accounting no<span class=\"_ _0\"></span> longer applies<span class=\"_ _314\"> </span></div></td><td class=\"c n xd30 y2069 w7e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">\u00a3<span class=\"_ _2\"></span>22m</div></td><td class=\"t m0 x6cc h193 y23b0 ff76 fs129 fc1 sc0 ls82 wsaf\">\u00a3<span class=\"_ _2\"></span>22m<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"gs508\"><table class=\"s w7e7 h282\" id=\"_57420d72-faba-4df3-a764-098b1b903572\"><tr><td class=\"c x1eb y23b2 w7e8 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws44\">Cross-currency interest rate<span class=\"_ _0\"></span> swap</div><div class=\"t m0 xd34 h1c4 y23b1 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c5 y23b3 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y23b3 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y23b4 ff76 fs129 fc1 sc0 ls6a ws3\" colspan=\"2\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve li<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y on t<span class=\"_ _2\"></span>he </td><td></td></tr><tr><td class=\"c n x1eb y23b5 w7e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xd35 y23b5 w7ea h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">(\u00a3<span class=\"_ _2\"></span>25<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23b6 w7d5 h21e\" colspan=\"2\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd36 y23b6 w7eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">$239m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23b7 w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xd37 y23b7 w7d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23b8 w7da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xd38 y23b8 w7ec h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23b9 w7ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd39 y23b9 w7ee h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a31m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd3a y23b9 w7ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls39 ws0\">(\u00a3<span class=\"_ _2\"></span>3m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ba w7df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd3b y23ba w343 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a31<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd3c y23ba w7f0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls88 wsb4\">\u00a33m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y23bb w7f1 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls6c ws7e\">Cumulative loss held i<span class=\"_ _0\"></span>n hedging reserve for<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">continuing hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xd3d y23bb w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd3e y23bb w7f2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb9 wse9\">(<span class=\"_ _2\"></span>\u00a3<span class=\"_ _1\"></span>24<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y23bc ff76 fs129 fc1 sc0 ls76 ws5\" colspan=\"2\">Loss held<span class=\"_ _0\"></span> in the hedging reserve for relationships </td><td></td></tr><tr><td class=\"c n x1eb y23bd w7e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">for which<span class=\"_ _0\"></span> hedge accounting no<span class=\"_ _0\"></span> longer applies<span class=\"_ _314\"> </span></div></td><td class=\"c n xd3f y23bd w7f3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a3<span class=\"_ _2\"></span>56m)</div></td><td class=\"t m0 xa32 h193 y23be ff76 fs129 fc1 sc0 ls39 ws0\">(\u00a3<span class=\"_ _2\"></span>31<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y23c0 w7f4 h283\"><div class=\"t m0 x1e4 hc y23bf ff76 fs7 fc1 sc0 lsb ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd40 y23c0 w7f5 h283\"><div class=\"t m0 x1e4 hc y23bf ff76 fs7 fc1 sc0 lsb ws3\">T<span class=\"_ _2\"></span>his re<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>es to t<span class=\"_ _2\"></span>he \u20ac20<span class=\"_ _2\"></span>0 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on cro<span class=\"_ _2\"></span>ss<span class=\"_ _2\"></span>-c<span class=\"_ _2\"></span>urr<span class=\"_ _2\"></span>enc<span class=\"_ _2\"></span>y int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t ra<span class=\"_ _2\"></span>te sw<span class=\"_ _2\"></span>ap, w<span class=\"_ _2\"></span>hich f<span class=\"_ _2\"></span>ail<span class=\"_ _2\"></span>ed to m<span class=\"_ _2\"></span>eet t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td class=\"t m0 xd41 hc y23c1 ff76 fs7 fc1 sc0 lsb ws3\">ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>s cri<span class=\"_ _2\"></span>ter<span class=\"_ _2\"></span>ia fr<span class=\"_ _2\"></span>om Fe<span class=\"_ _2\"></span>bru<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y 2025<span class=\"_ _2\"></span>. The c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e in fa<span class=\"_ _2\"></span>ir va<span class=\"_ _2\"></span>lue o<span class=\"_ _2\"></span>f der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>es </td><td></td></tr><tr><td></td><td class=\"t m0 xd41 hc y23c2 ff76 fs7 fc1 sc0 ls7 ws48\">the \u00a312 million<span class=\"_ _0\"></span> net gain<span class=\"_ _0\"></span> recorded within finance income<span class=\"_ _0\"></span> and finance costs<span class=\"_ _314\"> <span class=\"_ _314\"> </span></span>.<span class=\"_ _314\"> </span></td><td></td></tr></table></div><table class=\"s w801 h285\" id=\"_5184fbae-ebcf-4227-bc16-b21ee2a3a26e\"><tr><td class=\"t m0 x5a9 h13 y23c8 ff75 fs6 fc1 sc0 ls12 ws44\">Cross-currency interest rate<span class=\"_ _0\"></span> swap </td><td></td></tr><tr><td class=\"c n x1eb y23c9 w802 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lse5 ws75\">\u2013 redesignated<span class=\"_ _0\"></span> on 30 June 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4e y23c9 w31 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y23ca w803 h286\"><div class=\"t m0 x1e4 h193 y2208 ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve li<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y on t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4f y23ca w480 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a38<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23cb w7f9 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd50 y23cb w804 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">$239<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23cc w7d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y23cc w6a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23cd w7da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd47 y23cd w65 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ce w7ed h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd51 y23ce w805 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls70 ws76\">\u00a33m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23cf w7fd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd52 y23cf w35b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a33m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23d0 ff76 fs129 fc1 sc0 ls76 ws5\">Cumulative gain held in<span class=\"_ _0\"></span> hedging reser<span class=\"_ _2\"></span>ve </td><td></td></tr><tr><td class=\"t m0 x5a9 h193 y23d1 ff76 fs129 fc1 sc0 ls89 wsda\">for c<span class=\"_ _0\"></span>ontinuing hedges<span class=\"_ _314\"> </span></td><td class=\"t m0 xd53 h187 y23d2 ff75 fs129 fc1 sc0 ls70 ws76\">\u00a33m<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y23d3 w806 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">CHF denominated<span class=\"_ _0\"></span> bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xd54 y23d3 w4c9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls7f wsac\">20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d4 w7d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Carr<span class=\"_ _2\"></span>ying value of<span class=\"_ _0\"></span> debt on the bal<span class=\"_ _0\"></span>ance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd55 y23d4 w807 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a31<span class=\"_ _2\"></span>40m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d5 w7f9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd56 y23d5 w808 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls71 ws9a\">CHF15<span class=\"_ _2\"></span>0m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d6 w7d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y23d6 w6a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d7 w7da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd47 y23d7 w65 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d8 w809 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Change in<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying value o<span class=\"_ _0\"></span>f hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd57 y23d8 w80a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a34m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d9 w7fd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd58 y23d9 w80b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u00a34m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23da ff76 fs129 fc1 sc0 ls6c ws7e\">Cumulative loss held i<span class=\"_ _0\"></span>n hedging reserve </td><td></td></tr><tr><td class=\"c n x1eb y23db w80c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">for c<span class=\"_ _0\"></span>ontinuing hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xd59 y23db w80a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a34m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23dc w80d h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">JPY denominat<span class=\"_ _0\"></span>ed bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5a y23dc w80e h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2148 w7d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Carr<span class=\"_ _2\"></span>ying value of<span class=\"_ _0\"></span> debt on the bal<span class=\"_ _0\"></span>ance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5b y2148 w80f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a318<span class=\"_ _2\"></span>9m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213a w7f9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5c y213a w810 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">JPY<span class=\"_ _3\"></span>40bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21ed w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y21ed w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21fa w7da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd47 y21fa w65 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215b w809 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Change in<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying value o<span class=\"_ _0\"></span>f hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5d y215b w811 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">\u00a3<span class=\"_ _2\"></span>20m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b1 w7fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5e y21b1 w812 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a320<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w7e2 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls76 ws5\">Cumulative gain held in<span class=\"_ _0\"></span> hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> for<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">continuing hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xd32 y2069 w813 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">\u00a320<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td></tr></table>Fo<span class=\"_ _2\"></span>reign exc<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e for<span class=\"_ _2\"></span>war<span class=\"_ _2\"></span>d cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span>In N<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ber 202<span class=\"_ _0\"></span>4<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup e<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>d into for<span class=\"_ _2\"></span>eign exc<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e for<span class=\"_ _2\"></span>ward<span class=\"_ _2\"></span> contrac<span class=\"_ _2\"></span>ts to hedge<span class=\"_ _0\"></span> JPY<span class=\"_ _2\"></span>39 billi<span class=\"_ _0\"></span>on and CHF50 million of<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s investments in for<span class=\"_ _0\"></span>eign operations<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Both of these derivati<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> matured in the y<span class=\"_ _0\"></span>ear.<span class=\"_ _314\"> </span><table class=\"s w7f6 h284\" id=\"_737ba627-4521-4d75-bee3-5e5fa6c70985\"><tr><td class=\"c n x1eb y23c3 w7f7 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 lse5 ws75\">GBP/<span class=\"_ _0\"></span>JPY foreign<span class=\"_ _0\"></span> exchange forward contracts<span class=\"_ _314\"> </span></div></td><td class=\"c n xd42 y23c3 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd43 y23c3 w32 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ad w7f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd44 y23ad w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd45 y23ad w5b5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">\u00a31m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23c4 w7f9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd28 y23c4 w7fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">JPY39bn<span class=\"_ _314\"> </span></div></td><td class=\"c n xd46 y23c4 w7fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">J<span class=\"_ _2\"></span>PY39<span class=\"_ _2\"></span>bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215a w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y215a w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2b y215a w7d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219d w7da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd47 y219d w65 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2d y219d w7db h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w7ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd48 y219e w7fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">(\u00a3<span class=\"_ _2\"></span>7m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd49 y219e w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y221c w7fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4a y221c w7fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">\u00a37m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4b y221c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23c5 ff76 fs129 fc1 sc0 ls6c ws7e\">Cumulative loss held i<span class=\"_ _0\"></span>n the hedging reserve </td><td></td><td></td></tr><tr><td class=\"t m0 x5a9 h193 y23c6 ff76 fs129 fc1 sc0 ls76 ws5\">for r<span class=\"_ _0\"></span>elationships for which hedge acc<span class=\"_ _0\"></span>ount<span class=\"_ _2\"></span>ing </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w7ff h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">no longer applies<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4c y2069 w800 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">(<span class=\"_ _2\"></span>\u00a37m<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd4d h193 y23c7 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></td></tr></table><table class=\"s w814 h287\" id=\"_0dd8a398-2b71-4440-bbbd-edc012261559\"><tr><td class=\"c n x1eb y23dd w815 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 lse5 ws75\">GBP/CHF foreign<span class=\"_ _0\"></span> exchange forward contracts<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5f y23dd w26f h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd60 y23dd w7d1 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ad w816 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls21 ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd61 y23ad w135 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d3 y23ad w5b5 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsac wsd7\">\u00a31m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23c4 w7d5 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd28 y23c4 w817 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">C<span class=\"_ _2\"></span>HF50m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd62 y23c4 w818 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">CHF5<span class=\"_ _2\"></span>0m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23de w7d8 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y23de w6a0 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2b y23de w7d9 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219d w7da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2c y219d w3b1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2d y219d w7db h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23df w7ed h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd39 y23df w7ee h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a31m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd63 y23df w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23e0 w7df h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd3b y23e0 w343 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a31<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n x948 y23e0 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y23e1 ff76 fs129 fc1 sc0 ls6c ws7e\">Cumulative loss held i<span class=\"_ _0\"></span>n the hedging reserve </td><td></td><td></td></tr><tr><td class=\"t m0 x1e7 h193 y23e2 ff76 fs129 fc1 sc0 ls76 ws5\">for r<span class=\"_ _0\"></span>elationships for which hedge acc<span class=\"_ _0\"></span>ount<span class=\"_ _2\"></span>ing </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w7ff h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">no longer applies<span class=\"_ _314\"> </span></div></td><td class=\"c n xd64 y2069 w819 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a31m<span class=\"_ _0\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd65 h193 y23e3 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></td></tr></table>17<span class=\"_ _3\"></span>.4b Cash f<span class=\"_ _2\"></span>low<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p uses c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low h<span class=\"_ _2\"></span>edg<span class=\"_ _2\"></span>es to man<span class=\"_ _2\"></span>age t<span class=\"_ _2\"></span>he inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t rate r<span class=\"_ _2\"></span>isk on cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>lows of<span class=\"_ _0\"></span> highly probable<span class=\"_ _0\"></span> forecast transact<span class=\"_ _2\"></span>ions.<span class=\"_ _314\"> </span>Interest rate swaps<span class=\"_ _314\"> </span>In 2021<span class=\"_ _2\"></span>, th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up ente<span class=\"_ _2\"></span>red in<span class=\"_ _2\"></span>to a ser<span class=\"_ _2\"></span>ies of US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>r inte<span class=\"_ _2\"></span>rest r<span class=\"_ _2\"></span>ate sw<span class=\"_ _2\"></span>aps with tenures of<span class=\"_ _0\"></span> three, fi<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> and ten y<span class=\"_ _0\"></span>ears<span class=\"_ _2\"></span>, with aggregate<span class=\"_ _0\"></span> principal amount<span class=\"_ _2\"></span>s of US$500 million, US$<span class=\"_ _0\"></span>1<span class=\"_ _2\"></span>,000 million and<span class=\"_ _0\"></span> US$1,<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>50 million respecti<span class=\"_ _2\"></span>vely<span class=\"_ _0\"></span>. The i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st r<span class=\"_ _2\"></span>ate sw<span class=\"_ _2\"></span>aps wer<span class=\"_ _2\"></span>e desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d as ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low he<span class=\"_ _2\"></span>dges w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the<span class=\"_ _2\"></span> hedged item being planned<span class=\"_ _0\"></span> bond issuances that wer<span class=\"_ _0\"></span>e deemed highly probable at the time<span class=\"_ _0\"></span> and related t<span class=\"_ _0\"></span>o the Refiniti<span class=\"_ _2\"></span>v ac<span class=\"_ _0\"></span>quisit<span class=\"_ _2\"></span>ion. The<span class=\"_ _0\"></span> interest ra<span class=\"_ _2\"></span>te swa<span class=\"_ _2\"></span>ps were s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle<span class=\"_ _2\"></span>d in Mar<span class=\"_ _2\"></span>ch and A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2021 wh<span class=\"_ _2\"></span>en the n<span class=\"_ _2\"></span>ew bon<span class=\"_ _2\"></span>ds were i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d (see n<span class=\"_ _2\"></span>ote 1<span class=\"_ _2\"></span>6.1). A<span class=\"_ _2\"></span>t the d<span class=\"_ _2\"></span>ate of set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>lem<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>, a gain o<span class=\"_ _2\"></span>f US$3<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span><span class=\"_ gsbf\"> </span>million (\u00a322 million) was<span class=\"_ _0\"></span> recognised in the hedging r<span class=\"_ _0\"></span>eser<span class=\"_ _2\"></span>ve, representing the effect<span class=\"_ _2\"></span>ive portion of the gain on<span class=\"_ _0\"></span> the hedging inst<span class=\"_ _2\"></span>rument. Thi<span class=\"_ _2\"></span>s wil<span class=\"_ _2\"></span>l be rec<span class=\"_ _2\"></span>ycl<span class=\"_ _2\"></span>ed to th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent ove<span class=\"_ _2\"></span>r the t<span class=\"_ _2\"></span>erm of t<span class=\"_ _2\"></span>he de<span class=\"_ _2\"></span>bt.<span class=\"_ _2\"></span> During the year<span class=\"_ _0\"></span>, \u00a35 million<span class=\"_ _0\"></span> (202<span class=\"_ _3\"></span>4: \u00a36 million<span class=\"_ _0\"></span>) was recycled to the<span class=\"_ _0\"></span> income statement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> including \u00a3<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span> million recycled on part<span class=\"_ _2\"></span>ial<span class=\"_ _0\"></span> repurchase of<span class=\"_ _0\"></span> the original US$1,250 million bond<span class=\"_ _0\"></span> in March 20<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span> (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a3<span class=\"_ _2\"></span>2 million<span class=\"_ _0\"></span>).<span class=\"_ _314\"> </span>At 31 December 2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>5, a gain of<span class=\"_ _0\"></span> \u00a36 million (2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>4: \u00a311 mill<span class=\"_ _0\"></span>ion) remained in the cash flow hedge reserve.<span class=\"_ _314\"> </span>17<span class=\"_ _3\"></span>.4c Fair value hedges<span class=\"_ _314\"> </span>The Group uses<span class=\"_ _0\"></span> fair value hedges to<span class=\"_ _0\"></span> hedge the risk of changes i<span class=\"_ _0\"></span>n the fair val<span class=\"_ _2\"></span>ue of i<span class=\"_ _2\"></span>ts f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d rate b<span class=\"_ _2\"></span>orro<span class=\"_ _2\"></span>wing<span class=\"_ _2\"></span>s resu<span class=\"_ _2\"></span>lti<span class=\"_ _2\"></span>ng fro<span class=\"_ _2\"></span>m inte<span class=\"_ _2\"></span>rest r<span class=\"_ _2\"></span>ate mov<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Interest rate swaps<span class=\"_ _314\"> </span>In S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2023<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>ssu<span class=\"_ _2\"></span>ed t<span class=\"_ _2\"></span>wo \u20ac70<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d rate<span class=\"_ _2\"></span> bo<span class=\"_ _2\"></span>nds<span class=\"_ _2\"></span>, matur<span class=\"_ _2\"></span>ing i<span class=\"_ _2\"></span>n 2026 and 203<span class=\"_ _2\"></span>0 (see no<span class=\"_ _2\"></span>te 16<span class=\"_ _2\"></span>.1). O<span class=\"_ _2\"></span>n the s<span class=\"_ _2\"></span>ame day, the Group enter<span class=\"_ _0\"></span>ed into a series<span class=\"_ _0\"></span> of euro int<span class=\"_ _0\"></span>erest rate swaps with tenures of three and<span class=\"_ _0\"></span> seven years, each<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th aggregat<span class=\"_ _0\"></span>e notional amounts of \u20ac700 million.<span class=\"_ _314\"> </span>In M<span class=\"_ _2\"></span>arch 2024, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p issu<span class=\"_ _2\"></span>ed a US<span class=\"_ _2\"></span>$750 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd, mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in 203<span class=\"_ _2\"></span>4, as d<span class=\"_ _2\"></span>iscl<span class=\"_ _2\"></span>osed i<span class=\"_ _2\"></span>n note 1<span class=\"_ _2\"></span>6.1. O<span class=\"_ _2\"></span>n th<span class=\"_ _2\"></span>e same d<span class=\"_ _2\"></span>ay<span class=\"_ _0\"></span>, t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up entered int<span class=\"_ _0\"></span>o a series of<span class=\"_ _0\"></span> US dollar inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> rate swaps with a notional amount of US$750 mill<span class=\"_ _0\"></span>ion. In S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d a \u00a3400 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd, mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in 2028, a<span class=\"_ _2\"></span>nd a \u00a350<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion f<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>xed rat<span class=\"_ _2\"></span>e bond<span class=\"_ _2\"></span>, matu<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g in 2032, a<span class=\"_ _2\"></span>s disc<span class=\"_ _2\"></span>lose<span class=\"_ _2\"></span>d in note 1<span class=\"_ _2\"></span>6.1<span class=\"_ _2\"></span>. On t<span class=\"_ _2\"></span>he sam<span class=\"_ _2\"></span>e day, the G<span class=\"_ _2\"></span>roup e<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>d int<span class=\"_ _2\"></span>o a seri<span class=\"_ _2\"></span>es of G<span class=\"_ _2\"></span>BP in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rate s<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>s wi<span class=\"_ _2\"></span>th ten<span class=\"_ _2\"></span>ures of t<span class=\"_ _2\"></span>hree a<span class=\"_ _2\"></span>nd seven y<span class=\"_ _0\"></span>ears<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th aggregat<span class=\"_ _0\"></span>e notional amounts of \u00a3400 million and \u00a3500 million res<span class=\"_ _0\"></span>pec<span class=\"_ _2\"></span>tively.<span class=\"_ _314\"> </span>A<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup rec<span class=\"_ _2\"></span>eive<span class=\"_ _2\"></span>s a fi<span class=\"_ _2\"></span>xed ra<span class=\"_ _2\"></span>te of inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t and pays float<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> rate interest based on<span class=\"_ _0\"></span> the Euro Short-T<span class=\"_ _25e\"></span>er<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span> Rate (ESTR), the Secured Overnight Financing Rat<span class=\"_ _0\"></span>e (SOFR) or St<span class=\"_ _0\"></span>erling Overnight In<span class=\"_ _2\"></span>dex Aver<span class=\"_ _2\"></span>age (S<span class=\"_ _2\"></span>ON<span class=\"_ _2\"></span>IA<span class=\"_ _2\"></span>) plus a s<span class=\"_ _2\"></span>pread fo<span class=\"_ _2\"></span>r the e<span class=\"_ _2\"></span>uro, US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>r and G<span class=\"_ _2\"></span>BP sw<span class=\"_ _2\"></span>aps res<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ivel<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. I<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st ha<span class=\"_ _2\"></span>s been s<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>ped f<span class=\"_ _2\"></span>rom f<span class=\"_ _2\"></span>ixed t<span class=\"_ _2\"></span>o fl<span class=\"_ _2\"></span>oat<span class=\"_ _2\"></span>ing as part of the Group\u2019<span class=\"_ _0\"></span>s interest rat<span class=\"_ _0\"></span>e management policy (see note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.5).<span class=\"_ _314\"> </span>The b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s and in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps have b<span class=\"_ _2\"></span>een de<span class=\"_ _2\"></span>sign<span class=\"_ _2\"></span>ated a<span class=\"_ _2\"></span>s the hedged items and hedging instrument<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> in a fair value<span class=\"_ _0\"></span> hedge relationship. There is<span class=\"_ _0\"></span> an economic relationship<span class=\"_ _0\"></span> bet<span class=\"_ _2\"></span>ween the hedged items<span class=\"_ _0\"></span> and he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g ins<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>umen<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>s the te<span class=\"_ _2\"></span>rms of t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d leg of t<span class=\"_ _2\"></span>he in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rate<span class=\"_ _2\"></span> sw<span class=\"_ _2\"></span>aps ma<span class=\"_ _2\"></span>tch th<span class=\"_ _2\"></span>e term<span class=\"_ _2\"></span>s of the b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s, su<span class=\"_ _2\"></span>ch as no<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>al amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s, i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st ra<span class=\"_ _2\"></span>tes and m<span class=\"_ _2\"></span>atur<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y dat<span class=\"_ _2\"></span>es. Th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up has e<span class=\"_ _2\"></span>sta<span class=\"_ _2\"></span>bli<span class=\"_ _2\"></span>shed a h<span class=\"_ _2\"></span>edge r<span class=\"_ _2\"></span>at<span class=\"_ _2\"></span>io of 1:1<span class=\"_ _2\"></span> for t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge rel<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>onsh<span class=\"_ _2\"></span>ips as t<span class=\"_ _2\"></span>he un<span class=\"_ _2\"></span>derl<span class=\"_ _2\"></span>yi<span class=\"_ _2\"></span>ng int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t rate r<span class=\"_ _2\"></span>isk of t<span class=\"_ _2\"></span>he derivat<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> is identical to the hedged risk c<span class=\"_ _0\"></span>omponent<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>o assess hedge ef<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>tiveness, the Group uses regr<span class=\"_ _0\"></span>ession analysis for i<span class=\"_ _2\"></span>ts re<span class=\"_ _2\"></span>tros<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve he<span class=\"_ _2\"></span>dge ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>ness te<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ing to e<span class=\"_ _2\"></span>nsure t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge remained highly e<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fecti<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>. The Group uses the<span class=\"_ _0\"></span> cri<span class=\"_ _2\"></span>tical terms<span class=\"_ _0\"></span> match approach for<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s pr<span class=\"_ _0\"></span>ospec<span class=\"_ _2\"></span>tive hedge effec<span class=\"_ _2\"></span>tiveness testing to ensur<span class=\"_ _0\"></span>e the he<span class=\"_ _2\"></span>dge is ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d to remai<span class=\"_ _2\"></span>n high<span class=\"_ _2\"></span>ly ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive. S<span class=\"_ _2\"></span>ource<span class=\"_ _2\"></span>s of pote<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>al hed<span class=\"_ _2\"></span>ge ineffec<span class=\"_ _2\"></span>tiveness include counterpart<span class=\"_ _2\"></span>y cr<span class=\"_ _0\"></span>edi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> risk<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> which impac<span class=\"_ _2\"></span>ts fair value movements of the hedging instrument<span class=\"_ _2\"></span>s but no<span class=\"_ _0\"></span>t the hedged items.<span class=\"_ _314\"> </span><table class=\"s w81a h288\" id=\"_57e0f3e1-0972-43ff-8dad-8fafe82571f4\"><tr><td class=\"c n x1eb y23e4 w81b h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 lse5 ws75\">\u20ac1,40<span class=\"_ _2\"></span>0 mil<span class=\"_ _0\"></span>lion interest rate<span class=\"_ _0\"></span> swaps<span class=\"_ _314\"> </span></div></td><td class=\"c n xd66 y23e4 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd67 y23e4 w32 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219a w7f8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd68 y219a w712 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa3 wsce\">\u00a341<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xa45 y219a w81c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">\u00a3<span class=\"_ _2\"></span>57m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2157 w81d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd69 y2157 w81e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a316m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6a y2157 w81f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 wsaf\">(\u00a3<span class=\"_ _2\"></span>2m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2158 w820 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> the hedging instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6b y2158 w821 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">\u20ac1,400m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6c y2158 w822 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u20ac<span class=\"_ _2\"></span>1,40<span class=\"_ _2\"></span>0m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23e5 w7d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6d y23e5 w6a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6e y23e5 w7d9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y23ae w823 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>rr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs on t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6f y23ae w824 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">(\u00a31<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>246m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd70 y23ae w825 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(\u00a31<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>200<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23e6 ff76 fs129 fc1 sc0 ls6c ws7e\">Accumulated<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of fair value<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tment </td><td></td><td></td></tr><tr><td class=\"c n x1eb y215b w826 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd71 y215b w827 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a3<span class=\"_ _2\"></span>26m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd72 y215b w828 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls61 ws86\">(<span class=\"_ _2\"></span>\u00a343m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a0 w829 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd73 y21a0 w82a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">\u00a31<span class=\"_ _2\"></span>7m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd74 y21a0 w82b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">\u00a3<span class=\"_ _2\"></span>2m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23af ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness recor<span class=\"_ _0\"></span>ded in finance income </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w82c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">and finance costs in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _314\"> </span></div></td><td class=\"c n xd75 y2069 w82d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d ws97\">\u00a32m<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd76 h193 y23b0 ff76 fs129 fc1 sc0 ls39 ws0\">(\u00a3<span class=\"_ _2\"></span>1m)<span class=\"_ _314\"> </span></td></tr></table><table class=\"s w82e h289\" id=\"_2147ba23-a251-464e-b1f5-00b0995ed73e\"><tr><td class=\"c n x1eb y23e7 w82f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">US$750 million int<span class=\"_ _0\"></span>erest rate swaps<span class=\"_ _314\"> </span></div></td><td class=\"c n xd77 y23e7 w31 h225\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd78 y23e7 w32 h225\"><div class=\"t m0 x1e4 h187 y20d6 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219a w7f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd79 y219a w292 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a316<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7a y219a w830 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls39 ws0\">(<span class=\"_ _2\"></span>\u00a31m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2157 w81d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7b y2157 w747 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a318<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7c y2157 w831 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls39 ws0\">(\u00a39<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2158 w820 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> the hedging instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7d y2158 w832 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls89 ws79\">US$750m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7e y2158 w833 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _2\"></span>$750m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23e5 w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6d y23e5 w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6e y23e5 w7d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y23ae w823 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>rr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs on t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7f y23ae w834 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a3<span class=\"_ _0\"></span>561m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd80 y23ae w835 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">(<span class=\"_ _2\"></span>\u00a35<span class=\"_ _2\"></span>87m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23e6 ff76 fs129 fc1 sc0 ls6c ws7e\">Accumulated<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of fair value<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tment </td><td></td><td></td></tr><tr><td class=\"c n x1eb y215b w826 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd81 y215b w836 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a38<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd82 y215b w837 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">\u00a39m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a0 w829 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd83 y21a0 w838 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">(<span class=\"_ _2\"></span>\u00a317m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd84 y21a0 w839 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">\u00a39<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23e8 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness recor<span class=\"_ _0\"></span>ded in finance income </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w82c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">and finance costs in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _314\"> </span></div></td><td class=\"c n xd85 y2069 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd4d h193 y23e9 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></td></tr></table><table class=\"s w83a h28a\" id=\"_45b9d646-ca1f-44de-9a68-9074101b2517\"><tr><td class=\"c n x1eb y23ea w83b h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws75\">\u00a3900 million interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></div></td><td class=\"c n xd86 y23ea w31 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2156 w7f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd87 y2156 w83c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a311<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23eb w81d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd88 y23eb w83d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">\u00a35m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2158 w820 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> the hedging instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd89 y2158 w83e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">\u00a3900m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y221a w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6d y221a w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y219d w823 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>rr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs on t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd8a y219d w83f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">(\u00a3899m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23ec ff76 fs129 fc1 sc0 ls6c ws7e\">Accumulated<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of fair value<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tment </td><td></td></tr><tr><td class=\"c n x1eb y23ed w826 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd8b y23ed w840 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a35m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b1 w829 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd73 y21b1 w840 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a35m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23ee ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness recor<span class=\"_ _0\"></span>ded in finance income </td><td></td></tr><tr><td class=\"c n x1eb y2069 w82c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">and finance costs in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _314\"> </span></div></td><td class=\"c n xd85 y2069 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr></table>17<span class=\"_ _3\"></span>.4d Derivat<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> not designated as hedges<span class=\"_ _314\"> </span>Cross-<span class=\"_ _2\"></span>curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> interest rate swaps<span class=\"_ _314\"> </span>A<span class=\"_ _2\"></span>s par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he bo<span class=\"_ _2\"></span>nd iss<span class=\"_ _2\"></span>uance a<span class=\"_ _2\"></span>nd in a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tion t<span class=\"_ _2\"></span>o the i<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t ra<span class=\"_ _2\"></span>te swa<span class=\"_ _2\"></span>ps entered int<span class=\"_ _0\"></span>o in September 2<span class=\"_ _0\"></span>023, as<span class=\"_ _0\"></span> noted in 17<span class=\"_ _3\"></span>.4c, the Group entered into a<span class=\"_ _0\"></span> series of cross-currenc<span class=\"_ _2\"></span>y int<span class=\"_ _0\"></span>erest rate swaps to<span class=\"_ _0\"></span> swap the t<span class=\"_ _2\"></span>wo \u20ac70<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s to US$<span class=\"_ _2\"></span>7<span class=\"_ _0\"></span>40 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on, w<span class=\"_ _2\"></span>ith a te<span class=\"_ _2\"></span>nure of t<span class=\"_ _2\"></span>hre<span class=\"_ _2\"></span>e year<span class=\"_ _2\"></span>s, and US$7<span class=\"_ _0\"></span>42<span class=\"_ _0\"></span> million, with a tenure<span class=\"_ _0\"></span> of seven y<span class=\"_ _0\"></span>ears<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> These inst<span class=\"_ _2\"></span>ruments effec<span class=\"_ _2\"></span>tively e<span class=\"_ _0\"></span>xchange the<span class=\"_ _0\"></span> obligations and coupons<span class=\"_ _0\"></span> of the bonds<span class=\"_ _0\"></span> and int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t rate s<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>s from eu<span class=\"_ _2\"></span>ros to US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>rs<span class=\"_ _2\"></span>, in acco<span class=\"_ _2\"></span>rdanc<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>h th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s forei<span class=\"_ _2\"></span>gn excha<span class=\"_ _2\"></span>nge ri<span class=\"_ _2\"></span>sk man<span class=\"_ _2\"></span>agem<span class=\"_ _2\"></span>ent p<span class=\"_ _2\"></span>olic<span class=\"_ _2\"></span>y (se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>7<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>5). A<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup rec<span class=\"_ _2\"></span>eive<span class=\"_ _2\"></span>s euro f<span class=\"_ _2\"></span>loa<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g rate int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t base<span class=\"_ _2\"></span>d on ES<span class=\"_ _2\"></span>TR plu<span class=\"_ _2\"></span>s a spre<span class=\"_ _2\"></span>ad and p<span class=\"_ _2\"></span>ays U<span class=\"_ _2\"></span>S doll<span class=\"_ _2\"></span>ar f<span class=\"_ _2\"></span>loat<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span> ra<span class=\"_ _2\"></span>te intere<span class=\"_ _2\"></span>st b<span class=\"_ _2\"></span>ased o<span class=\"_ _2\"></span>n SOF<span class=\"_ _2\"></span>R plu<span class=\"_ _2\"></span>s a sprea<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span>The cross-currenc<span class=\"_ _2\"></span>y int<span class=\"_ _0\"></span>erest rate swaps have<span class=\"_ _0\"></span> not been designated<span class=\"_ _0\"></span> as he<span class=\"_ _2\"></span>dges a<span class=\"_ _2\"></span>s a por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of t<span class=\"_ _2\"></span>heir f<span class=\"_ _2\"></span>air v<span class=\"_ _2\"></span>alue m<span class=\"_ _2\"></span>oveme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s of<span class=\"_ _2\"></span>fse<span class=\"_ _2\"></span>t wit<span class=\"_ _2\"></span>h inco<span class=\"_ _2\"></span>me statement movements arising on other financial assets and liabilities, resulting in a<span class=\"_ _0\"></span> natural hedge.<span class=\"_ _314\"> </span>Foreign currency forwards<span class=\"_ _314\"> </span>The Group<span class=\"_ _0\"></span> uses for<span class=\"_ _0\"></span>eign ex<span class=\"_ _0\"></span>change contract<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to manage<span class=\"_ _0\"></span> foreign excha<span class=\"_ _2\"></span>nge r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>. It en<span class=\"_ _2\"></span>ters i<span class=\"_ _2\"></span>nto a se<span class=\"_ _2\"></span>ries of e<span class=\"_ _2\"></span>xchang<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s to pu<span class=\"_ _2\"></span>rchas<span class=\"_ _2\"></span>e or sell c<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>tain currencies<span class=\"_ _0\"></span> agains<span class=\"_ _2\"></span>t sterling<span class=\"_ _0\"></span> and US dollars in the future at fixed amounts<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The cumulative sterling notional amounts of contract<span class=\"_ _2\"></span>s ou<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>ndin<span class=\"_ _2\"></span>g as at 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mber 2025 an<span class=\"_ _2\"></span>d 31 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 202<span class=\"_ _0\"></span>4 we<span class=\"_ _2\"></span>re as fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w841 h28b\" id=\"_275cb76b-11b2-47ba-9e05-b7bd9ee0f202\"><tr><td></td><td></td><td class=\"c n xd8c y23ef w842 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">T<span class=\"_ _0\"></span>raded against<span class=\"_ _0\"></span> sterling<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xd8d y23ef w843 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">T<span class=\"_ _0\"></span>raded against US<span class=\"_ _0\"></span> dollar<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xd8e y23f0 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd8f y23f0 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n xd90 y23f0 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd91 y23f0 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f1 w844 h234\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs6 fc1 sc0 ls110 ws183\">Sell/(buy)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd92 y23f1 w845 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls89 ws79\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd93 y23f1 w846 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd94 y23f1 w845 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls89 ws79\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x739 y23f1 w847 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f2 w70a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">Euro<span class=\"_ _314\"> </span></div></td><td class=\"c n xd95 y23f2 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xd96 y23f2 w848 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">(<span class=\"_ _2\"></span>55)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd97 y23f2 w849 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">138<span class=\"_ _314\"> </span></div></td><td class=\"c n xd98 y23f2 w84a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">121<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f3 w711 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">US dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xd99 y23f3 w84b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(194)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9a y23f3 w31d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9b y23f3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9c y23f3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f4 w84c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Japanese yen<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9d y23f4 w84d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">(54)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9e y23f4 w430 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(49<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9f y23f4 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xda0 y23f4 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f5 w84e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Singapore dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xda1 y23f5 w84d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda2 y23f5 w84f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(<span class=\"_ _2\"></span>33)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda3 y23f5 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xda4 y23f5 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22dd w850 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Hong K<span class=\"_ _0\"></span>ong dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xda5 y22dd w2d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d ws97\">(39)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda6 y22dd w267 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>32)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd44 y22dd w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xa3d y22dd w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22de w851 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6d wsd4\">Romanian leu<span class=\"_ _314\"> </span></div></td><td class=\"c n xda7 y22de w852 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda6 y22de w853 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(22)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda8 y22de w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xda9 y22de w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f6 w854 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Australian dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xdaa y23f6 w3a6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdab y23f6 w3df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">(<span class=\"_ _2\"></span>15)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdac y23f6 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdad y23f6 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e0 w855 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Canadian dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xdae y22e0 w4b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">(30)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdaf y22e0 w409 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb0 y22e0 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb1 y22e0 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f7 w856 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">South African rand<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb2 y23f7 w3d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb3 y23f7 w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xa21 y23f7 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb4 y23f7 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f8 w857 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Danish krone<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb5 y23f8 w858 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(10)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb6 y23f8 w859 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">(9)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb7 y23f8 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb8 y23f8 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e3 w85a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ai<span class=\"_ _2\"></span>wan<span class=\"_ _0\"></span> dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb9 y22e3 w3ab h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">(28)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdba y22e3 w19f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(8)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbb y22e3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbc y22e3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f9 w85b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Swiss franc<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbd y23f9 w3ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">(8)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbe y23f9 w663 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(6)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbf y23f9 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc0 y23f9 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w717 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other currencies<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc1 y2069 w85c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(26)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdc2 h193 y23fa ff76 fs129 fc1 sc0 ls75 ws9e\">(18)<span class=\"_ _314\"> </span></td><td class=\"c n x9c7 y2069 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc3 y2069 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr></table>17<span class=\"_ _3\"></span>.4e Hed<span class=\"_ _2\"></span>ging<span class=\"_ _0\"></span> reser<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span><table class=\"s w85d h28c\" id=\"_911c1fd2-6fe7-412e-bb69-7cae2f80ea45\"><tr><td></td><td></td><td class=\"c n x4e9 y23fb w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc4 y23fb w32 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x956 y23fc w218 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x957 y23fc w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc5 y23fc w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23fd w342 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdc6 y23fd w56 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc7 y23fd w1a9 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23fe ff76 fs129 fc1 sc0 ls76 ws5\">Net (losses)/gains on<span class=\"_ _0\"></span> net </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y23ff w85e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">investment hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc8 y23ff w649 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa1 wsda\">18.2<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc9 y23ff w195 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">(29)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdca y23ff w99 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb0 wsdb\">47<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2289 w85f h226\"><div class=\"t m0 x1e4 h193 y2116 ff76 fs129 fc1 sc0 ls6a ws3\">Am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>ts re<span class=\"_ _2\"></span>cy<span class=\"_ _2\"></span>cled t<span class=\"_ _2\"></span>o the<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">income statement<span class=\"_ _314\"> </span></div></td><td class=\"c n xdcb y2289 web h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa1 wsda\">18.2<span class=\"_ _314\"> </span></div></td><td class=\"c n xdcc y2289 w41a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">(5)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdcd y2289 w9d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdce y2069 w860 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdcf h193 y2400 ff76 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></td></tr></table>A<span class=\"_ _2\"></span>s at 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2025, \u00a3<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n of los<span class=\"_ _2\"></span>ses (<span class=\"_ _2\"></span>202<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4 mil<span class=\"_ _2\"></span>lion o<span class=\"_ _2\"></span>f losses) r<span class=\"_ _0\"></span>emain in reserves that have<span class=\"_ _0\"></span> not been recycled to the<span class=\"_ _0\"></span> income statement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> as the Group continues to<span class=\"_ _0\"></span> hold the underly<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ments.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfHedgeAccountingExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-550": {
   "value": "17<span class=\"_ _3\"></span>.4 Hedging ac<span class=\"_ _2\"></span>tivities and derivatives<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p hedg<span class=\"_ _2\"></span>es it<span class=\"_ _2\"></span>s ex<span class=\"_ _2\"></span>posu<span class=\"_ _2\"></span>re to forei<span class=\"_ _2\"></span>gn excha<span class=\"_ _2\"></span>nge an<span class=\"_ _2\"></span>d inter<span class=\"_ _2\"></span>est r<span class=\"_ _2\"></span>ate movements using derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments. The Group applies hedge accounting where<span class=\"_ _0\"></span> appropriate and has<span class=\"_ _0\"></span> designated some derivat<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> as net investment hedges and fair<span class=\"_ _0\"></span> value hedges. The Group also has some<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vatives which do<span class=\"_ _0\"></span> not qualif<span class=\"_ _2\"></span>y f<span class=\"_ _0\"></span>or hedge accounting or ha<span class=\"_ _2\"></span>ve not b<span class=\"_ _2\"></span>een de<span class=\"_ _2\"></span>sign<span class=\"_ _2\"></span>ated as h<span class=\"_ _2\"></span>edg<span class=\"_ _2\"></span>es.<span class=\"_ _314\"> </span>17<span class=\"_ _3\"></span>.4a Net investment hedges<span class=\"_ _314\"> </span>The Group uses<span class=\"_ _0\"></span> net investment hedges to hedge the curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y risk ar<span class=\"_ _2\"></span>isin<span class=\"_ _2\"></span>g from i<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>nves<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt in fo<span class=\"_ _2\"></span>reign o<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons. T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup ha<span class=\"_ _2\"></span>s designated some<span class=\"_ _0\"></span> of its euro borrowings, Japanese yen<span class=\"_ _0\"></span> borrowings<span class=\"_ _2\"></span>, Swiss franc borrowings, cross-cur<span class=\"_ _2\"></span>rency inter<span class=\"_ _0\"></span>est rate swaps (used t<span class=\"_ _0\"></span>o sw<span class=\"_ _2\"></span>ap a por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f it<span class=\"_ _2\"></span>s euro b<span class=\"_ _2\"></span>orrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s into U<span class=\"_ _2\"></span>S doll<span class=\"_ _2\"></span>ar deb<span class=\"_ _2\"></span>t), an<span class=\"_ _2\"></span>d forei<span class=\"_ _2\"></span>gn exchange<span class=\"_ _0\"></span> for<span class=\"_ _2\"></span>ward<span class=\"_ _0\"></span> contrac<span class=\"_ _2\"></span>ts as net inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment hedges.<span class=\"_ _314\"> </span>There is<span class=\"_ _0\"></span> an economic relationship<span class=\"_ _0\"></span> bet<span class=\"_ _2\"></span>ween the hedging instrument<span class=\"_ _2\"></span>s and hedged items as<span class=\"_ _0\"></span> the borrowings and derivati<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> (hedgin<span class=\"_ _2\"></span>g instr<span class=\"_ _2\"></span>uments) ar<span class=\"_ _0\"></span>e matched by<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> investmen<span class=\"_ _2\"></span>ts in f<span class=\"_ _0\"></span>oreign op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>s (he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s). The G<span class=\"_ _2\"></span>roup h<span class=\"_ _2\"></span>as es<span class=\"_ _2\"></span>tab<span class=\"_ _2\"></span>lish<span class=\"_ _2\"></span>ed a rat<span class=\"_ _2\"></span>io of 1<span class=\"_ _2\"></span>:1 for the hedging r<span class=\"_ _0\"></span>elationships as<span class=\"_ _0\"></span> the underlying foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> risk of the hedging instrumen<span class=\"_ _2\"></span>ts is identical to<span class=\"_ _0\"></span> the investment<span class=\"_ _2\"></span>s. T<span class=\"_ _3\"></span>o ensure the he<span class=\"_ _2\"></span>dge is ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup m<span class=\"_ _2\"></span>akes sure t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he no<span class=\"_ _2\"></span>mina<span class=\"_ _2\"></span>l valu<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e hedging instr<span class=\"_ _2\"></span>uments is always less than<span class=\"_ _0\"></span> the value of the investments<span class=\"_ _2\"></span>. Hedge inef<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>tiveness arises if the nominal<span class=\"_ _0\"></span> value of the hedging instr<span class=\"_ _2\"></span>ument e<span class=\"_ _0\"></span>xceeds the value o<span class=\"_ _0\"></span>f the underly<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ment. The hedging instrument<span class=\"_ _2\"></span>s ar<span class=\"_ _0\"></span>e detailed on the next page<span class=\"_ _314\"> <span class=\"_ _314\"> </span></span>Bonds and cross-<span class=\"_ _2\"></span>curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y int<span class=\"_ _0\"></span>erest rate swaps<span class=\"_ _314\"> </span>In 20<span class=\"_ _2\"></span>17 an<span class=\"_ _2\"></span>d 2018<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p issu<span class=\"_ _2\"></span>ed th<span class=\"_ _2\"></span>ree \u20ac5<span class=\"_ _2\"></span>00 m<span class=\"_ _2\"></span>illio<span class=\"_ _2\"></span>n bon<span class=\"_ _2\"></span>ds, maturing in September<span class=\"_ _0\"></span> 202<span class=\"_ _3\"></span>4, December 20<span class=\"_ _0\"></span>27 and September<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>9 (se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>6.1)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>\u20ac200 million of<span class=\"_ _0\"></span> the bond maturing in September<span class=\"_ _0\"></span> 2029<span class=\"_ _0\"></span> had been swapped to US$239<span class=\"_ _0\"></span> million through a series o<span class=\"_ _0\"></span>f cross-<span class=\"_ _2\"></span>currency int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t rate s<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>s, mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g on th<span class=\"_ _2\"></span>e sam<span class=\"_ _2\"></span>e dates a<span class=\"_ _2\"></span>s the b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>. The cross-<span class=\"_ _2\"></span>currency inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> rate swaps effec<span class=\"_ _2\"></span>tively exc<span class=\"_ _0\"></span>hange the obligations and c<span class=\"_ _2\"></span>oupo<span class=\"_ _2\"></span>ns of t<span class=\"_ _2\"></span>he bon<span class=\"_ _2\"></span>ds fro<span class=\"_ _2\"></span>m euro<span class=\"_ _2\"></span>s into US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>rs<span class=\"_ _2\"></span>. The co<span class=\"_ _2\"></span>mbin<span class=\"_ _2\"></span>ed bond and cross-currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> interest rate swaps hav<span class=\"_ _0\"></span>e been designated as hedging instrument<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> net investment in US dollar<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting subsidi<span class=\"_ _0\"></span>aries<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>During the year<span class=\"_ _0\"></span>, re<span class=\"_ _0\"></span>trospec<span class=\"_ _2\"></span>tive hedge effec<span class=\"_ _2\"></span>tiveness testing found the \u20ac200 million bond and<span class=\"_ _0\"></span> cross-<span class=\"_ _2\"></span>currency interest rate<span class=\"_ _0\"></span> swaps failed to me<span class=\"_ _2\"></span>et the e<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>enes<span class=\"_ _2\"></span>s cri<span class=\"_ _2\"></span>teri<span class=\"_ _2\"></span>a from F<span class=\"_ _2\"></span>ebr<span class=\"_ _2\"></span>uar<span class=\"_ _2\"></span>y 2025. Th<span class=\"_ _2\"></span>is resu<span class=\"_ _2\"></span>lted<span class=\"_ _2\"></span> in a \u00a315<span class=\"_ _0\"></span> million foreign<span class=\"_ _0\"></span> exchange gain<span class=\"_ _0\"></span> and a \u00a33 million fair value<span class=\"_ _0\"></span> loss on derivative f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> ins<span class=\"_ _2\"></span>truments recorded within finance income and f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>ance co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s (se<span class=\"_ _2\"></span>e note 5<span class=\"_ _2\"></span>.1). Th<span class=\"_ _2\"></span>e hedg<span class=\"_ _2\"></span>e was re<span class=\"_ _2\"></span>desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d on 30 J<span class=\"_ _2\"></span>une 2025. I<span class=\"_ _2\"></span>t has si<span class=\"_ _2\"></span>nce be<span class=\"_ _2\"></span>en hig<span class=\"_ _2\"></span>hly ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive a<span class=\"_ _2\"></span>nd is ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span> to be s<span class=\"_ _2\"></span>o in fu<span class=\"_ _2\"></span>ture p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>ds.<span class=\"_ _314\"> </span>The \u20ac500 million bond maturing<span class=\"_ _0\"></span> in December 20<span class=\"_ _0\"></span>27 and the<span class=\"_ _0\"></span> remaining \u20ac<span class=\"_ _2\"></span>30<span class=\"_ _2\"></span>0 mill<span class=\"_ _2\"></span>ion of t<span class=\"_ _2\"></span>he bo<span class=\"_ _2\"></span>nd mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in Se<span class=\"_ _2\"></span>ptemb<span class=\"_ _2\"></span>er 2029, wh<span class=\"_ _2\"></span>ich ha<span class=\"_ _2\"></span>s not be<span class=\"_ _2\"></span>en sw<span class=\"_ _2\"></span>appe<span class=\"_ _2\"></span>d into U<span class=\"_ _2\"></span>S doll<span class=\"_ _2\"></span>ars<span class=\"_ _2\"></span>, have b<span class=\"_ _2\"></span>een de<span class=\"_ _2\"></span>sign<span class=\"_ _2\"></span>ated a<span class=\"_ _2\"></span>s hedg<span class=\"_ _2\"></span>ing instr<span class=\"_ _2\"></span>uments in the Group<span class=\"_ _0\"></span>\u2019s net<span class=\"_ _0\"></span> investment in euro r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting subsidiaries.<span class=\"_ _314\"> </span>In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>5<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d a CH<span class=\"_ _2\"></span>F150 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd and<span class=\"_ _2\"></span> JP<span class=\"_ _2\"></span>Y<span class=\"_ _3\"></span>4<span class=\"_ _2\"></span>0 bil<span class=\"_ _2\"></span>lion o<span class=\"_ _2\"></span>f fi<span class=\"_ _2\"></span>xed ra<span class=\"_ _2\"></span>te bond<span class=\"_ _2\"></span>s (see n<span class=\"_ _2\"></span>ote 16<span class=\"_ _2\"></span>). The<span class=\"_ _2\"></span>se bo<span class=\"_ _2\"></span>nds hav<span class=\"_ _2\"></span>e bee<span class=\"_ _2\"></span>n designated as<span class=\"_ _0\"></span> hedging inst<span class=\"_ _2\"></span>ruments in the Group\u2019<span class=\"_ _0\"></span>s net<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ment in<span class=\"_ _0\"></span> Swiss Franc and Japanese<span class=\"_ _0\"></span> Y<span class=\"_ _0\"></span>en r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting subsidiaries.<span class=\"_ _314\"> </span><table class=\"s w7cf h281\" id=\"_6bdac7c1-a7fb-4547-8a7e-eaa15ba7cb30\"><tr><td class=\"c n x1eb y23ab w7d0 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 lse5 ws75\">Euro denominated bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xd24 y23ab w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd25 y23ab w7d1 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ac w7d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Carr<span class=\"_ _2\"></span>ying value of<span class=\"_ _0\"></span> debt on the bal<span class=\"_ _0\"></span>ance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd26 y23ac w7d3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a38<span class=\"_ _2\"></span>70m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd27 y23ac w7d4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">(<span class=\"_ _2\"></span>\u00a3<span class=\"_ _2\"></span>827m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ad w7d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd28 y23ad w7d6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">\u20ac1,000m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd29 y23ad w7d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">\u20ac1,000m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219c w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y219c w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2b y219c w7d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215a w7da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2c y215a w3b1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2d y215a w7db h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ae w7dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Change in<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying value o<span class=\"_ _0\"></span>f hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2e y23ae w7dd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a33<span class=\"_ _2\"></span>9m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2f y23ae w7de h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">\u00a350m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w7df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd30 y219e w7e0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">\u00a339m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd31 y219e w7e1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls39 ws0\">(\u00a3<span class=\"_ _2\"></span>50m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21a0 w7e2 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls76 ws5\">Cumulative gain held in<span class=\"_ _0\"></span> hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> for<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">continuing hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xd32 y21a0 w7e3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">\u00a320<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd33 y21a0 w7e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">\u00a3<span class=\"_ _2\"></span>59m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y23af ff76 fs129 fc1 sc0 ls76 ws5\">Gain held in<span class=\"_ _0\"></span> the hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> for relationships </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w7e5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">for which<span class=\"_ _0\"></span> hedge accounting no<span class=\"_ _0\"></span> longer applies<span class=\"_ _314\"> </span></div></td><td class=\"c n xd30 y2069 w7e6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">\u00a3<span class=\"_ _2\"></span>22m</div></td><td class=\"t m0 x6cc h193 y23b0 ff76 fs129 fc1 sc0 ls82 wsaf\">\u00a3<span class=\"_ _2\"></span>22m<span class=\"_ _314\"> </span></td></tr></table>Cross-currency interest rate<span class=\"_ _0\"></span> swap1<span class=\"_ _314\"> </span>2025<span class=\"_ _314\"> </span>20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span>Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve li<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y on t<span class=\"_ _2\"></span>he balance sheet<span class=\"_ _314\"> </span>(\u00a3<span class=\"_ _2\"></span>25<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span>Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span>$239m<span class=\"_ _314\"> </span>He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span>1:1<span class=\"_ _314\"> </span>Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span>100%<span class=\"_ _314\"> </span>Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span>(\u00a31m)<span class=\"_ _314\"> </span>(\u00a3<span class=\"_ _2\"></span>3m)<span class=\"_ _314\"> </span>Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span>\u00a31<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span>\u00a33m<span class=\"_ _314\"> </span>Cumulative loss held i<span class=\"_ _0\"></span>n hedging reserve for<span class=\"_ _314\"> </span>continuing hedges<span class=\"_ _314\"> </span>\u2013<span class=\"_ _314\"> </span>(<span class=\"_ _2\"></span>\u00a3<span class=\"_ _1\"></span>24<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span>Loss held<span class=\"_ _0\"></span> in the hedging reserve for relationships for which<span class=\"_ _0\"></span> hedge accounting no<span class=\"_ _0\"></span> longer applies<span class=\"_ _314\"> </span>(\u00a3<span class=\"_ _2\"></span>56m)(\u00a3<span class=\"_ _2\"></span>31<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span>1<span class=\"_ _314\"> </span>T<span class=\"_ _2\"></span>his re<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>es to t<span class=\"_ _2\"></span>he \u20ac20<span class=\"_ _2\"></span>0 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on cro<span class=\"_ _2\"></span>ss<span class=\"_ _2\"></span>-c<span class=\"_ _2\"></span>urr<span class=\"_ _2\"></span>enc<span class=\"_ _2\"></span>y int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t ra<span class=\"_ _2\"></span>te sw<span class=\"_ _2\"></span>ap, w<span class=\"_ _2\"></span>hich f<span class=\"_ _2\"></span>ail<span class=\"_ _2\"></span>ed to m<span class=\"_ _2\"></span>eet t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span>ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>nes<span class=\"_ _2\"></span>s cri<span class=\"_ _2\"></span>ter<span class=\"_ _2\"></span>ia fr<span class=\"_ _2\"></span>om Fe<span class=\"_ _2\"></span>bru<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y 2025<span class=\"_ _2\"></span>. The c<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e in fa<span class=\"_ _2\"></span>ir va<span class=\"_ _2\"></span>lue o<span class=\"_ _2\"></span>f der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve exc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>es the \u00a312 million<span class=\"_ _0\"></span> net gain<span class=\"_ _0\"></span> recorded within finance income<span class=\"_ _0\"></span> and finance costs<span class=\"_ _314\"> <span class=\"_ _314\"> </span></span><table class=\"s w801 h285\" id=\"_5184fbae-ebcf-4227-bc16-b21ee2a3a26e\"><tr><td class=\"t m0 x5a9 h13 y23c8 ff75 fs6 fc1 sc0 ls12 ws44\">Cross-currency interest rate<span class=\"_ _0\"></span> swap </td><td></td></tr><tr><td class=\"c n x1eb y23c9 w802 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lse5 ws75\">\u2013 redesignated<span class=\"_ _0\"></span> on 30 June 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4e y23c9 w31 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y23ca w803 h286\"><div class=\"t m0 x1e4 h193 y2208 ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve li<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y on t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4f y23ca w480 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a38<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23cb w7f9 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd50 y23cb w804 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">$239<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23cc w7d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y23cc w6a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23cd w7da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd47 y23cd w65 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ce w7ed h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd51 y23ce w805 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls70 ws76\">\u00a33m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23cf w7fd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd52 y23cf w35b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a33m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23d0 ff76 fs129 fc1 sc0 ls76 ws5\">Cumulative gain held in<span class=\"_ _0\"></span> hedging reser<span class=\"_ _2\"></span>ve </td><td></td></tr><tr><td class=\"t m0 x5a9 h193 y23d1 ff76 fs129 fc1 sc0 ls89 wsda\">for c<span class=\"_ _0\"></span>ontinuing hedges<span class=\"_ _314\"> </span></td><td class=\"t m0 xd53 h187 y23d2 ff75 fs129 fc1 sc0 ls70 ws76\">\u00a33m<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y23d3 w806 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">CHF denominated<span class=\"_ _0\"></span> bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xd54 y23d3 w4c9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls7f wsac\">20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d4 w7d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Carr<span class=\"_ _2\"></span>ying value of<span class=\"_ _0\"></span> debt on the bal<span class=\"_ _0\"></span>ance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd55 y23d4 w807 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a31<span class=\"_ _2\"></span>40m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d5 w7f9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd56 y23d5 w808 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls71 ws9a\">CHF15<span class=\"_ _2\"></span>0m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d6 w7d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y23d6 w6a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d7 w7da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd47 y23d7 w65 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d8 w809 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Change in<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying value o<span class=\"_ _0\"></span>f hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd57 y23d8 w80a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a34m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23d9 w7fd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd58 y23d9 w80b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u00a34m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23da ff76 fs129 fc1 sc0 ls6c ws7e\">Cumulative loss held i<span class=\"_ _0\"></span>n hedging reserve </td><td></td></tr><tr><td class=\"c n x1eb y23db w80c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">for c<span class=\"_ _0\"></span>ontinuing hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xd59 y23db w80a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a34m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23dc w80d h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">JPY denominat<span class=\"_ _0\"></span>ed bonds<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5a y23dc w80e h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2148 w7d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Carr<span class=\"_ _2\"></span>ying value of<span class=\"_ _0\"></span> debt on the bal<span class=\"_ _0\"></span>ance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5b y2148 w80f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a318<span class=\"_ _2\"></span>9m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213a w7f9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5c y213a w810 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">JPY<span class=\"_ _3\"></span>40bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21ed w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y21ed w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21fa w7da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd47 y21fa w65 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215b w809 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Change in<span class=\"_ _0\"></span> carr<span class=\"_ _2\"></span>ying value o<span class=\"_ _0\"></span>f hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5d y215b w811 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">\u00a3<span class=\"_ _2\"></span>20m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b1 w7fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5e y21b1 w812 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a320<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w7e2 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls76 ws5\">Cumulative gain held in<span class=\"_ _0\"></span> hedging reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> for<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">continuing hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xd32 y2069 w813 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">\u00a320<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td></tr></table>Fo<span class=\"_ _2\"></span>reign exc<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e for<span class=\"_ _2\"></span>war<span class=\"_ _2\"></span>d cont<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>ts<span class=\"_ _314\"> </span>In N<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ber 202<span class=\"_ _0\"></span>4<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup e<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>d into for<span class=\"_ _2\"></span>eign exc<span class=\"_ _2\"></span>hang<span class=\"_ _2\"></span>e for<span class=\"_ _2\"></span>ward<span class=\"_ _2\"></span> contrac<span class=\"_ _2\"></span>ts to hedge<span class=\"_ _0\"></span> JPY<span class=\"_ _2\"></span>39 billi<span class=\"_ _0\"></span>on and CHF50 million of<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s investments in for<span class=\"_ _0\"></span>eign operations<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Both of these derivati<span class=\"_ _2\"></span>ves<span class=\"_ _0\"></span> matured in the y<span class=\"_ _0\"></span>ear.<span class=\"_ _314\"> </span><table class=\"s w7f6 h284\" id=\"_737ba627-4521-4d75-bee3-5e5fa6c70985\"><tr><td class=\"c n x1eb y23c3 w7f7 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 lse5 ws75\">GBP/<span class=\"_ _0\"></span>JPY foreign<span class=\"_ _0\"></span> exchange forward contracts<span class=\"_ _314\"> </span></div></td><td class=\"c n xd42 y23c3 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd43 y23c3 w32 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ad w7f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd44 y23ad w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd45 y23ad w5b5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">\u00a31m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23c4 w7f9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd28 y23c4 w7fa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">JPY39bn<span class=\"_ _314\"> </span></div></td><td class=\"c n xd46 y23c4 w7fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">J<span class=\"_ _2\"></span>PY39<span class=\"_ _2\"></span>bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215a w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y215a w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2b y215a w7d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219d w7da h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd47 y219d w65 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2d y219d w7db h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219e w7ed h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd48 y219e w7fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">(\u00a3<span class=\"_ _2\"></span>7m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd49 y219e w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y221c w7fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4a y221c w7fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">\u00a37m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4b y221c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23c5 ff76 fs129 fc1 sc0 ls6c ws7e\">Cumulative loss held i<span class=\"_ _0\"></span>n the hedging reserve </td><td></td><td></td></tr><tr><td class=\"t m0 x5a9 h193 y23c6 ff76 fs129 fc1 sc0 ls76 ws5\">for r<span class=\"_ _0\"></span>elationships for which hedge acc<span class=\"_ _0\"></span>ount<span class=\"_ _2\"></span>ing </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w7ff h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">no longer applies<span class=\"_ _314\"> </span></div></td><td class=\"c n xd4c y2069 w800 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">(<span class=\"_ _2\"></span>\u00a37m<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd4d h193 y23c7 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></td></tr></table><table class=\"s w814 h287\" id=\"_0dd8a398-2b71-4440-bbbd-edc012261559\"><tr><td class=\"c n x1eb y23dd w815 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 lse5 ws75\">GBP/CHF foreign<span class=\"_ _0\"></span> exchange forward contracts<span class=\"_ _314\"> </span></div></td><td class=\"c n xd5f y23dd w26f h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd60 y23dd w7d1 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23ad w816 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls21 ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd61 y23ad w135 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x4d3 y23ad w5b5 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsac wsd7\">\u00a31m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23c4 w7d5 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> hedging instrument<span class=\"_ _314\"> </span></div></td><td class=\"c n xd28 y23c4 w817 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">C<span class=\"_ _2\"></span>HF50m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd62 y23c4 w818 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">CHF5<span class=\"_ _2\"></span>0m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23de w7d8 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2a y23de w6a0 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2b y23de w7d9 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219d w7da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge effec<span class=\"_ _2\"></span>tiveness<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2c y219d w3b1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">100%<span class=\"_ _314\"> </span></div></td><td class=\"c n xd2d y219d w7db h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsee ws55\">100%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23df w7ed h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of der<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd39 y23df w7ee h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a31m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd63 y23df w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23e0 w7df h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of ne<span class=\"_ _2\"></span>t inves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _314\"> </span></div></td><td class=\"c n xd3b y23e0 w343 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a31<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n x948 y23e0 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y23e1 ff76 fs129 fc1 sc0 ls6c ws7e\">Cumulative loss held i<span class=\"_ _0\"></span>n the hedging reserve </td><td></td><td></td></tr><tr><td class=\"t m0 x1e7 h193 y23e2 ff76 fs129 fc1 sc0 ls76 ws5\">for r<span class=\"_ _0\"></span>elationships for which hedge acc<span class=\"_ _0\"></span>ount<span class=\"_ _2\"></span>ing </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w7ff h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">no longer applies<span class=\"_ _314\"> </span></div></td><td class=\"c n xd64 y2069 w819 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a31m<span class=\"_ _0\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd65 h193 y23e3 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></td></tr></table>17<span class=\"_ _3\"></span>.4b Cash f<span class=\"_ _2\"></span>low<span class=\"_ _0\"></span> hedges<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p uses c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low h<span class=\"_ _2\"></span>edg<span class=\"_ _2\"></span>es to man<span class=\"_ _2\"></span>age t<span class=\"_ _2\"></span>he inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t rate r<span class=\"_ _2\"></span>isk on cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>lows of<span class=\"_ _0\"></span> highly probable<span class=\"_ _0\"></span> forecast transact<span class=\"_ _2\"></span>ions.<span class=\"_ _314\"> </span>Interest rate swaps<span class=\"_ _314\"> </span>In 2021<span class=\"_ _2\"></span>, th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up ente<span class=\"_ _2\"></span>red in<span class=\"_ _2\"></span>to a ser<span class=\"_ _2\"></span>ies of US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>r inte<span class=\"_ _2\"></span>rest r<span class=\"_ _2\"></span>ate sw<span class=\"_ _2\"></span>aps with tenures of<span class=\"_ _0\"></span> three, fi<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> and ten y<span class=\"_ _0\"></span>ears<span class=\"_ _2\"></span>, with aggregate<span class=\"_ _0\"></span> principal amount<span class=\"_ _2\"></span>s of US$500 million, US$<span class=\"_ _0\"></span>1<span class=\"_ _2\"></span>,000 million and<span class=\"_ _0\"></span> US$1,<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>50 million respecti<span class=\"_ _2\"></span>vely<span class=\"_ _0\"></span>. The i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st r<span class=\"_ _2\"></span>ate sw<span class=\"_ _2\"></span>aps wer<span class=\"_ _2\"></span>e desi<span class=\"_ _2\"></span>gnate<span class=\"_ _2\"></span>d as ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low he<span class=\"_ _2\"></span>dges w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the<span class=\"_ _2\"></span> hedged item being planned<span class=\"_ _0\"></span> bond issuances that wer<span class=\"_ _0\"></span>e deemed highly probable at the time<span class=\"_ _0\"></span> and related t<span class=\"_ _0\"></span>o the Refiniti<span class=\"_ _2\"></span>v ac<span class=\"_ _0\"></span>quisit<span class=\"_ _2\"></span>ion. The<span class=\"_ _0\"></span> interest ra<span class=\"_ _2\"></span>te swa<span class=\"_ _2\"></span>ps were s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle<span class=\"_ _2\"></span>d in Mar<span class=\"_ _2\"></span>ch and A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2021 wh<span class=\"_ _2\"></span>en the n<span class=\"_ _2\"></span>ew bon<span class=\"_ _2\"></span>ds were i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d (see n<span class=\"_ _2\"></span>ote 1<span class=\"_ _2\"></span>6.1). A<span class=\"_ _2\"></span>t the d<span class=\"_ _2\"></span>ate of set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>lem<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>, a gain o<span class=\"_ _2\"></span>f US$3<span class=\"_ _2\"></span>1<span class=\"_ _0\"></span><span class=\"_ gsbf\"> </span>million (\u00a322 million) was<span class=\"_ _0\"></span> recognised in the hedging r<span class=\"_ _0\"></span>eser<span class=\"_ _2\"></span>ve, representing the effect<span class=\"_ _2\"></span>ive portion of the gain on<span class=\"_ _0\"></span> the hedging inst<span class=\"_ _2\"></span>rument. Thi<span class=\"_ _2\"></span>s wil<span class=\"_ _2\"></span>l be rec<span class=\"_ _2\"></span>ycl<span class=\"_ _2\"></span>ed to th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent ove<span class=\"_ _2\"></span>r the t<span class=\"_ _2\"></span>erm of t<span class=\"_ _2\"></span>he de<span class=\"_ _2\"></span>bt.<span class=\"_ _2\"></span> During the year<span class=\"_ _0\"></span>, \u00a35 million<span class=\"_ _0\"></span> (202<span class=\"_ _3\"></span>4: \u00a36 million<span class=\"_ _0\"></span>) was recycled to the<span class=\"_ _0\"></span> income statement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> including \u00a3<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span> million recycled on part<span class=\"_ _2\"></span>ial<span class=\"_ _0\"></span> repurchase of<span class=\"_ _0\"></span> the original US$1,250 million bond<span class=\"_ _0\"></span> in March 20<span class=\"_ _0\"></span>25<span class=\"_ _0\"></span> (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a3<span class=\"_ _2\"></span>2 million<span class=\"_ _0\"></span>).<span class=\"_ _314\"> </span>At 31 December 2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>5, a gain of<span class=\"_ _0\"></span> \u00a36 million (2<span class=\"_ _0\"></span>02<span class=\"_ _0\"></span>4: \u00a311 mill<span class=\"_ _0\"></span>ion) remained in the cash flow hedge reserve.<span class=\"_ _314\"> </span>17<span class=\"_ _3\"></span>.4c Fair value hedges<span class=\"_ _314\"> </span>The Group uses<span class=\"_ _0\"></span> fair value hedges to<span class=\"_ _0\"></span> hedge the risk of changes i<span class=\"_ _0\"></span>n the fair val<span class=\"_ _2\"></span>ue of i<span class=\"_ _2\"></span>ts f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d rate b<span class=\"_ _2\"></span>orro<span class=\"_ _2\"></span>wing<span class=\"_ _2\"></span>s resu<span class=\"_ _2\"></span>lti<span class=\"_ _2\"></span>ng fro<span class=\"_ _2\"></span>m inte<span class=\"_ _2\"></span>rest r<span class=\"_ _2\"></span>ate mov<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Interest rate swaps<span class=\"_ _314\"> </span>In S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2023<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup i<span class=\"_ _2\"></span>ssu<span class=\"_ _2\"></span>ed t<span class=\"_ _2\"></span>wo \u20ac70<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d rate<span class=\"_ _2\"></span> bo<span class=\"_ _2\"></span>nds<span class=\"_ _2\"></span>, matur<span class=\"_ _2\"></span>ing i<span class=\"_ _2\"></span>n 2026 and 203<span class=\"_ _2\"></span>0 (see no<span class=\"_ _2\"></span>te 16<span class=\"_ _2\"></span>.1). O<span class=\"_ _2\"></span>n the s<span class=\"_ _2\"></span>ame day, the Group enter<span class=\"_ _0\"></span>ed into a series<span class=\"_ _0\"></span> of euro int<span class=\"_ _0\"></span>erest rate swaps with tenures of three and<span class=\"_ _0\"></span> seven years, each<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th aggregat<span class=\"_ _0\"></span>e notional amounts of \u20ac700 million.<span class=\"_ _314\"> </span>In M<span class=\"_ _2\"></span>arch 2024, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p issu<span class=\"_ _2\"></span>ed a US<span class=\"_ _2\"></span>$750 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd, mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in 203<span class=\"_ _2\"></span>4, as d<span class=\"_ _2\"></span>iscl<span class=\"_ _2\"></span>osed i<span class=\"_ _2\"></span>n note 1<span class=\"_ _2\"></span>6.1. O<span class=\"_ _2\"></span>n th<span class=\"_ _2\"></span>e same d<span class=\"_ _2\"></span>ay<span class=\"_ _0\"></span>, t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up entered int<span class=\"_ _0\"></span>o a series of<span class=\"_ _0\"></span> US dollar inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> rate swaps with a notional amount of US$750 mill<span class=\"_ _0\"></span>ion. In S<span class=\"_ _2\"></span>eptem<span class=\"_ _2\"></span>ber 2025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup is<span class=\"_ _2\"></span>sue<span class=\"_ _2\"></span>d a \u00a3400 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd, mat<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g in 2028, a<span class=\"_ _2\"></span>nd a \u00a350<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion f<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>xed rat<span class=\"_ _2\"></span>e bond<span class=\"_ _2\"></span>, matu<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g in 2032, a<span class=\"_ _2\"></span>s disc<span class=\"_ _2\"></span>lose<span class=\"_ _2\"></span>d in note 1<span class=\"_ _2\"></span>6.1<span class=\"_ _2\"></span>. On t<span class=\"_ _2\"></span>he sam<span class=\"_ _2\"></span>e day, the G<span class=\"_ _2\"></span>roup e<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>d int<span class=\"_ _2\"></span>o a seri<span class=\"_ _2\"></span>es of G<span class=\"_ _2\"></span>BP in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rate s<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>s wi<span class=\"_ _2\"></span>th ten<span class=\"_ _2\"></span>ures of t<span class=\"_ _2\"></span>hree a<span class=\"_ _2\"></span>nd seven y<span class=\"_ _0\"></span>ears<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th aggregat<span class=\"_ _0\"></span>e notional amounts of \u00a3400 million and \u00a3500 million res<span class=\"_ _0\"></span>pec<span class=\"_ _2\"></span>tively.<span class=\"_ _314\"> </span>A<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup rec<span class=\"_ _2\"></span>eive<span class=\"_ _2\"></span>s a fi<span class=\"_ _2\"></span>xed ra<span class=\"_ _2\"></span>te of inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t and pays float<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> rate interest based on<span class=\"_ _0\"></span> the Euro Short-T<span class=\"_ _25e\"></span>er<span class=\"_ _2\"></span>m<span class=\"_ _0\"></span> Rate (ESTR), the Secured Overnight Financing Rat<span class=\"_ _0\"></span>e (SOFR) or St<span class=\"_ _0\"></span>erling Overnight In<span class=\"_ _2\"></span>dex Aver<span class=\"_ _2\"></span>age (S<span class=\"_ _2\"></span>ON<span class=\"_ _2\"></span>IA<span class=\"_ _2\"></span>) plus a s<span class=\"_ _2\"></span>pread fo<span class=\"_ _2\"></span>r the e<span class=\"_ _2\"></span>uro, US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>r and G<span class=\"_ _2\"></span>BP sw<span class=\"_ _2\"></span>aps res<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ivel<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. I<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st ha<span class=\"_ _2\"></span>s been s<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>ped f<span class=\"_ _2\"></span>rom f<span class=\"_ _2\"></span>ixed t<span class=\"_ _2\"></span>o fl<span class=\"_ _2\"></span>oat<span class=\"_ _2\"></span>ing as part of the Group\u2019<span class=\"_ _0\"></span>s interest rat<span class=\"_ _0\"></span>e management policy (see note<span class=\"_ _0\"></span> 17<span class=\"_ _0\"></span>.5).<span class=\"_ _314\"> </span>The b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s and in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps have b<span class=\"_ _2\"></span>een de<span class=\"_ _2\"></span>sign<span class=\"_ _2\"></span>ated a<span class=\"_ _2\"></span>s the hedged items and hedging instrument<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> in a fair value<span class=\"_ _0\"></span> hedge relationship. There is<span class=\"_ _0\"></span> an economic relationship<span class=\"_ _0\"></span> bet<span class=\"_ _2\"></span>ween the hedged items<span class=\"_ _0\"></span> and he<span class=\"_ _2\"></span>dgin<span class=\"_ _2\"></span>g ins<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>umen<span class=\"_ _2\"></span>ts a<span class=\"_ _2\"></span>s the te<span class=\"_ _2\"></span>rms of t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>ixe<span class=\"_ _2\"></span>d leg of t<span class=\"_ _2\"></span>he in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rate<span class=\"_ _2\"></span> sw<span class=\"_ _2\"></span>aps ma<span class=\"_ _2\"></span>tch th<span class=\"_ _2\"></span>e term<span class=\"_ _2\"></span>s of the b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s, su<span class=\"_ _2\"></span>ch as no<span class=\"_ _2\"></span>tion<span class=\"_ _2\"></span>al amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s, i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st ra<span class=\"_ _2\"></span>tes and m<span class=\"_ _2\"></span>atur<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y dat<span class=\"_ _2\"></span>es. Th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up has e<span class=\"_ _2\"></span>sta<span class=\"_ _2\"></span>bli<span class=\"_ _2\"></span>shed a h<span class=\"_ _2\"></span>edge r<span class=\"_ _2\"></span>at<span class=\"_ _2\"></span>io of 1:1<span class=\"_ _2\"></span> for t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge rel<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>onsh<span class=\"_ _2\"></span>ips as t<span class=\"_ _2\"></span>he un<span class=\"_ _2\"></span>derl<span class=\"_ _2\"></span>yi<span class=\"_ _2\"></span>ng int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t rate r<span class=\"_ _2\"></span>isk of t<span class=\"_ _2\"></span>he derivat<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> is identical to the hedged risk c<span class=\"_ _0\"></span>omponent<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>o assess hedge ef<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ec<span class=\"_ _2\"></span>tiveness, the Group uses regr<span class=\"_ _0\"></span>ession analysis for i<span class=\"_ _2\"></span>ts re<span class=\"_ _2\"></span>tros<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve he<span class=\"_ _2\"></span>dge ef<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>ness te<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ing to e<span class=\"_ _2\"></span>nsure t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge remained highly e<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fecti<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span>. The Group uses the<span class=\"_ _0\"></span> cri<span class=\"_ _2\"></span>tical terms<span class=\"_ _0\"></span> match approach for<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s pr<span class=\"_ _0\"></span>ospec<span class=\"_ _2\"></span>tive hedge effec<span class=\"_ _2\"></span>tiveness testing to ensur<span class=\"_ _0\"></span>e the he<span class=\"_ _2\"></span>dge is ex<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d to remai<span class=\"_ _2\"></span>n high<span class=\"_ _2\"></span>ly ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ive. S<span class=\"_ _2\"></span>ource<span class=\"_ _2\"></span>s of pote<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>al hed<span class=\"_ _2\"></span>ge ineffec<span class=\"_ _2\"></span>tiveness include counterpart<span class=\"_ _2\"></span>y cr<span class=\"_ _0\"></span>edi<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> risk<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> which impac<span class=\"_ _2\"></span>ts fair value movements of the hedging instrument<span class=\"_ _2\"></span>s but no<span class=\"_ _0\"></span>t the hedged items.<span class=\"_ _314\"> </span><table class=\"s w81a h288\" id=\"_57e0f3e1-0972-43ff-8dad-8fafe82571f4\"><tr><td class=\"c n x1eb y23e4 w81b h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 lse5 ws75\">\u20ac1,40<span class=\"_ _2\"></span>0 mil<span class=\"_ _0\"></span>lion interest rate<span class=\"_ _0\"></span> swaps<span class=\"_ _314\"> </span></div></td><td class=\"c n xd66 y23e4 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd67 y23e4 w32 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219a w7f8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd68 y219a w712 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa3 wsce\">\u00a341<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xa45 y219a w81c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">\u00a3<span class=\"_ _2\"></span>57m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2157 w81d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd69 y2157 w81e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a316m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6a y2157 w81f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls82 wsaf\">(\u00a3<span class=\"_ _2\"></span>2m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2158 w820 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> the hedging instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6b y2158 w821 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls8 ws5\">\u20ac1,400m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6c y2158 w822 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u20ac<span class=\"_ _2\"></span>1,40<span class=\"_ _2\"></span>0m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23e5 w7d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6d y23e5 w6a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6e y23e5 w7d9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y23ae w823 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>rr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs on t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6f y23ae w824 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">(\u00a31<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>246m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd70 y23ae w825 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(\u00a31<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>200<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23e6 ff76 fs129 fc1 sc0 ls6c ws7e\">Accumulated<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of fair value<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tment </td><td></td><td></td></tr><tr><td class=\"c n x1eb y215b w826 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd71 y215b w827 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a3<span class=\"_ _2\"></span>26m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd72 y215b w828 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls61 ws86\">(<span class=\"_ _2\"></span>\u00a343m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a0 w829 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd73 y21a0 w82a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">\u00a31<span class=\"_ _2\"></span>7m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd74 y21a0 w82b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">\u00a3<span class=\"_ _2\"></span>2m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23af ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness recor<span class=\"_ _0\"></span>ded in finance income </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w82c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">and finance costs in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _314\"> </span></div></td><td class=\"c n xd75 y2069 w82d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d ws97\">\u00a32m<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd76 h193 y23b0 ff76 fs129 fc1 sc0 ls39 ws0\">(\u00a3<span class=\"_ _2\"></span>1m)<span class=\"_ _314\"> </span></td></tr></table><table class=\"s w82e h289\" id=\"_2147ba23-a251-464e-b1f5-00b0995ed73e\"><tr><td class=\"c n x1eb y23e7 w82f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">US$750 million int<span class=\"_ _0\"></span>erest rate swaps<span class=\"_ _314\"> </span></div></td><td class=\"c n xd77 y23e7 w31 h225\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd78 y23e7 w32 h225\"><div class=\"t m0 x1e4 h187 y20d6 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y219a w7f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd79 y219a w292 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a316<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7a y219a w830 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls39 ws0\">(<span class=\"_ _2\"></span>\u00a31m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2157 w81d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7b y2157 w747 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a318<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7c y2157 w831 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls39 ws0\">(\u00a39<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2158 w820 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> the hedging instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7d y2158 w832 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls89 ws79\">US$750m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7e y2158 w833 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _2\"></span>$750m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23e5 w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6d y23e5 w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6e y23e5 w7d9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y23ae w823 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>rr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs on t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd7f y23ae w834 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls70 ws76\">(\u00a3<span class=\"_ _0\"></span>561m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd80 y23ae w835 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">(<span class=\"_ _2\"></span>\u00a35<span class=\"_ _2\"></span>87m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23e6 ff76 fs129 fc1 sc0 ls6c ws7e\">Accumulated<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of fair value<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tment </td><td></td><td></td></tr><tr><td class=\"c n x1eb y215b w826 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd81 y215b w836 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(\u00a38<span class=\"_ _2\"></span>m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd82 y215b w837 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">\u00a39m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21a0 w829 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd83 y21a0 w838 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb ws46\">(<span class=\"_ _2\"></span>\u00a317m)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd84 y21a0 w839 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">\u00a39<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23e8 ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness recor<span class=\"_ _0\"></span>ded in finance income </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w82c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">and finance costs in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _314\"> </span></div></td><td class=\"c n xd85 y2069 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd4d h193 y23e9 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></td></tr></table><table class=\"s w83a h28a\" id=\"_45b9d646-ca1f-44de-9a68-9074101b2517\"><tr><td class=\"c n x1eb y23ea w83b h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws75\">\u00a3900 million interest rat<span class=\"_ _0\"></span>e swaps<span class=\"_ _314\"> </span></div></td><td class=\"c n xd86 y23ea w31 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2156 w7f8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of de<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve as<span class=\"_ _2\"></span>set on t<span class=\"_ _2\"></span>he b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce she<span class=\"_ _2\"></span>et<span class=\"_ _314\"> </span></div></td><td class=\"c n xd87 y2156 w83c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">\u00a311<span class=\"_ _2\"></span>m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23eb w81d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e der<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span></div></td><td class=\"c n xd88 y23eb w83d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">\u00a35m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2158 w820 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Nominal value of<span class=\"_ _0\"></span> the hedging instrument<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd89 y2158 w83e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">\u00a3900m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y221a w7d8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">He<span class=\"_ _2\"></span>dge r<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>o<span class=\"_ _314\"> </span></div></td><td class=\"c n xd6d y221a w6a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">1:1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y219d w823 h22d\"><div class=\"t m0 x1e4 h193 y2159 ff76 fs129 fc1 sc0 ls6a ws3\">Ca<span class=\"_ _2\"></span>rr<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>ing am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs on t<span class=\"_ _2\"></span>he<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">balance sheet<span class=\"_ _314\"> </span></div></td><td class=\"c n xd8a y219d w83f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaa wsd6\">(\u00a3899m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23ec ff76 fs129 fc1 sc0 ls6c ws7e\">Accumulated<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of fair value<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>tment </td><td></td></tr><tr><td class=\"c n x1eb y23ed w826 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">on t<span class=\"_ _2\"></span>he he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd8b y23ed w840 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a35m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b1 w829 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ch<span class=\"_ _2\"></span>ange i<span class=\"_ _2\"></span>n val<span class=\"_ _2\"></span>ue of he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>d item<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xd73 y21b1 w840 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">(<span class=\"_ _2\"></span>\u00a35m)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23ee ff76 fs129 fc1 sc0 ls6c ws7e\">Hedge ineffec<span class=\"_ _2\"></span>tiveness recor<span class=\"_ _0\"></span>ded in finance income </td><td></td></tr><tr><td class=\"c n x1eb y2069 w82c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">and finance costs in the inc<span class=\"_ _0\"></span>ome statement<span class=\"_ _314\"> </span></div></td><td class=\"c n xd85 y2069 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr></table>17<span class=\"_ _3\"></span>.4d Derivat<span class=\"_ _2\"></span>ives<span class=\"_ _0\"></span> not designated as hedges<span class=\"_ _314\"> </span>Cross-<span class=\"_ _2\"></span>curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> interest rate swaps<span class=\"_ _314\"> </span>A<span class=\"_ _2\"></span>s par<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he bo<span class=\"_ _2\"></span>nd iss<span class=\"_ _2\"></span>uance a<span class=\"_ _2\"></span>nd in a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tion t<span class=\"_ _2\"></span>o the i<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t ra<span class=\"_ _2\"></span>te swa<span class=\"_ _2\"></span>ps entered int<span class=\"_ _0\"></span>o in September 2<span class=\"_ _0\"></span>023, as<span class=\"_ _0\"></span> noted in 17<span class=\"_ _3\"></span>.4c, the Group entered into a<span class=\"_ _0\"></span> series of cross-currenc<span class=\"_ _2\"></span>y int<span class=\"_ _0\"></span>erest rate swaps to<span class=\"_ _0\"></span> swap the t<span class=\"_ _2\"></span>wo \u20ac70<span class=\"_ _2\"></span>0 mil<span class=\"_ _2\"></span>lion b<span class=\"_ _2\"></span>ond<span class=\"_ _2\"></span>s to US$<span class=\"_ _2\"></span>7<span class=\"_ _0\"></span>40 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on, w<span class=\"_ _2\"></span>ith a te<span class=\"_ _2\"></span>nure of t<span class=\"_ _2\"></span>hre<span class=\"_ _2\"></span>e year<span class=\"_ _2\"></span>s, and US$7<span class=\"_ _0\"></span>42<span class=\"_ _0\"></span> million, with a tenure<span class=\"_ _0\"></span> of seven y<span class=\"_ _0\"></span>ears<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> These inst<span class=\"_ _2\"></span>ruments effec<span class=\"_ _2\"></span>tively e<span class=\"_ _0\"></span>xchange the<span class=\"_ _0\"></span> obligations and coupons<span class=\"_ _0\"></span> of the bonds<span class=\"_ _0\"></span> and int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t rate s<span class=\"_ _2\"></span>wap<span class=\"_ _2\"></span>s from eu<span class=\"_ _2\"></span>ros to US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>rs<span class=\"_ _2\"></span>, in acco<span class=\"_ _2\"></span>rdanc<span class=\"_ _2\"></span>e wit<span class=\"_ _2\"></span>h th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s forei<span class=\"_ _2\"></span>gn excha<span class=\"_ _2\"></span>nge ri<span class=\"_ _2\"></span>sk man<span class=\"_ _2\"></span>agem<span class=\"_ _2\"></span>ent p<span class=\"_ _2\"></span>olic<span class=\"_ _2\"></span>y (se<span class=\"_ _2\"></span>e note 1<span class=\"_ _2\"></span>7<span class=\"_ _3\"></span>.<span class=\"_ _2\"></span>5). A<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup rec<span class=\"_ _2\"></span>eive<span class=\"_ _2\"></span>s euro f<span class=\"_ _2\"></span>loa<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g rate int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t base<span class=\"_ _2\"></span>d on ES<span class=\"_ _2\"></span>TR plu<span class=\"_ _2\"></span>s a spre<span class=\"_ _2\"></span>ad and p<span class=\"_ _2\"></span>ays U<span class=\"_ _2\"></span>S doll<span class=\"_ _2\"></span>ar f<span class=\"_ _2\"></span>loat<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span> ra<span class=\"_ _2\"></span>te intere<span class=\"_ _2\"></span>st b<span class=\"_ _2\"></span>ased o<span class=\"_ _2\"></span>n SOF<span class=\"_ _2\"></span>R plu<span class=\"_ _2\"></span>s a sprea<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span>The cross-currenc<span class=\"_ _2\"></span>y int<span class=\"_ _0\"></span>erest rate swaps have<span class=\"_ _0\"></span> not been designated<span class=\"_ _0\"></span> as he<span class=\"_ _2\"></span>dges a<span class=\"_ _2\"></span>s a por<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ion of t<span class=\"_ _2\"></span>heir f<span class=\"_ _2\"></span>air v<span class=\"_ _2\"></span>alue m<span class=\"_ _2\"></span>oveme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s of<span class=\"_ _2\"></span>fse<span class=\"_ _2\"></span>t wit<span class=\"_ _2\"></span>h inco<span class=\"_ _2\"></span>me statement movements arising on other financial assets and liabilities, resulting in a<span class=\"_ _0\"></span> natural hedge.<span class=\"_ _314\"> </span>Foreign currency forwards<span class=\"_ _314\"> </span>The Group<span class=\"_ _0\"></span> uses for<span class=\"_ _0\"></span>eign ex<span class=\"_ _0\"></span>change contract<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to manage<span class=\"_ _0\"></span> foreign excha<span class=\"_ _2\"></span>nge r<span class=\"_ _2\"></span>isk<span class=\"_ _2\"></span>. It en<span class=\"_ _2\"></span>ters i<span class=\"_ _2\"></span>nto a se<span class=\"_ _2\"></span>ries of e<span class=\"_ _2\"></span>xchang<span class=\"_ _2\"></span>e cont<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s to pu<span class=\"_ _2\"></span>rchas<span class=\"_ _2\"></span>e or sell c<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>tain currencies<span class=\"_ _0\"></span> agains<span class=\"_ _2\"></span>t sterling<span class=\"_ _0\"></span> and US dollars in the future at fixed amounts<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The cumulative sterling notional amounts of contract<span class=\"_ _2\"></span>s ou<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>ndin<span class=\"_ _2\"></span>g as at 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mber 2025 an<span class=\"_ _2\"></span>d 31 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 202<span class=\"_ _0\"></span>4 we<span class=\"_ _2\"></span>re as fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w841 h28b\" id=\"_275cb76b-11b2-47ba-9e05-b7bd9ee0f202\"><tr><td></td><td></td><td class=\"c n xd8c y23ef w842 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">T<span class=\"_ _0\"></span>raded against<span class=\"_ _0\"></span> sterling<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xd8d y23ef w843 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">T<span class=\"_ _0\"></span>raded against US<span class=\"_ _0\"></span> dollar<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xd8e y23f0 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd8f y23f0 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n xd90 y23f0 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xd91 y23f0 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f1 w844 h234\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs6 fc1 sc0 ls110 ws183\">Sell/(buy)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd92 y23f1 w845 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls89 ws79\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd93 y23f1 w846 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xd94 y23f1 w845 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls89 ws79\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x739 y23f1 w847 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f2 w70a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">Euro<span class=\"_ _314\"> </span></div></td><td class=\"c n xd95 y23f2 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n xd96 y23f2 w848 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">(<span class=\"_ _2\"></span>55)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd97 y23f2 w849 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">138<span class=\"_ _314\"> </span></div></td><td class=\"c n xd98 y23f2 w84a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">121<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f3 w711 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">US dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xd99 y23f3 w84b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(194)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9a y23f3 w31d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9b y23f3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9c y23f3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f4 w84c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Japanese yen<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9d y23f4 w84d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">(54)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9e y23f4 w430 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(49<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd9f y23f4 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xda0 y23f4 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f5 w84e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Singapore dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xda1 y23f5 w84d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda2 y23f5 w84f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(<span class=\"_ _2\"></span>33)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda3 y23f5 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xda4 y23f5 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22dd w850 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Hong K<span class=\"_ _0\"></span>ong dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xda5 y22dd w2d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d ws97\">(39)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda6 y22dd w267 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(<span class=\"_ _2\"></span>32)<span class=\"_ _314\"> </span></div></td><td class=\"c n xd44 y22dd w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xa3d y22dd w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22de w851 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6d wsd4\">Romanian leu<span class=\"_ _314\"> </span></div></td><td class=\"c n xda7 y22de w852 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda6 y22de w853 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(22)<span class=\"_ _314\"> </span></div></td><td class=\"c n xda8 y22de w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xda9 y22de w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f6 w854 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Australian dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xdaa y23f6 w3a6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdab y23f6 w3df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">(<span class=\"_ _2\"></span>15)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdac y23f6 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdad y23f6 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e0 w855 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Canadian dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xdae y22e0 w4b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">(30)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdaf y22e0 w409 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(14)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb0 y22e0 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb1 y22e0 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f7 w856 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">South African rand<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb2 y23f7 w3d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb3 y23f7 w210 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xa21 y23f7 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb4 y23f7 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f8 w857 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Danish krone<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb5 y23f8 w858 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(10)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb6 y23f8 w859 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">(9)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb7 y23f8 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb8 y23f8 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e3 w85a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ai<span class=\"_ _2\"></span>wan<span class=\"_ _0\"></span> dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb9 y22e3 w3ab h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">(28)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdba y22e3 w19f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(8)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbb y22e3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbc y22e3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f9 w85b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Swiss franc<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbd y23f9 w3ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">(8)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbe y23f9 w663 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(6)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbf y23f9 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc0 y23f9 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w717 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other currencies<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc1 y2069 w85c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(26)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdc2 h193 y23fa ff76 fs129 fc1 sc0 ls75 ws9e\">(18)<span class=\"_ _314\"> </span></td><td class=\"c n x9c7 y2069 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc3 y2069 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr></table>17<span class=\"_ _3\"></span>.4e Hed<span class=\"_ _2\"></span>ging<span class=\"_ _0\"></span> reser<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span><table class=\"s w85d h28c\" id=\"_911c1fd2-6fe7-412e-bb69-7cae2f80ea45\"><tr><td></td><td></td><td class=\"c n x4e9 y23fb w31 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc4 y23fb w32 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9f wscb\">2<span class=\"_ _2\"></span>024<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x956 y23fc w218 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _314\"> </span></div></td><td class=\"c n x957 y23fc w34 h21b\"><div class=\"t m0 x1e4 hb y2047 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc5 y23fc w35 h21b\"><div class=\"t m0 x1e4 hb y2047 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23fd w342 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdc6 y23fd w56 h21c\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc7 y23fd w1a9 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y23fe ff76 fs129 fc1 sc0 ls76 ws5\">Net (losses)/gains on<span class=\"_ _0\"></span> net </td><td></td><td></td><td></td></tr><tr><td class=\"c n x1eb y23ff w85e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">investment hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc8 y23ff w649 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa1 wsda\">18.2<span class=\"_ _314\"> </span></div></td><td class=\"c n xdc9 y23ff w195 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">(29)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdca y23ff w99 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsb0 wsdb\">47<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2289 w85f h226\"><div class=\"t m0 x1e4 h193 y2116 ff76 fs129 fc1 sc0 ls6a ws3\">Am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>ts re<span class=\"_ _2\"></span>cy<span class=\"_ _2\"></span>cled t<span class=\"_ _2\"></span>o the<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">income statement<span class=\"_ _314\"> </span></div></td><td class=\"c n xdcb y2289 web h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa1 wsda\">18.2<span class=\"_ _314\"> </span></div></td><td class=\"c n xdcc y2289 w41a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">(5)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdcd y2289 w9d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w34b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdce y2069 w860 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdcf h193 y2400 ff76 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></td></tr></table>A<span class=\"_ _2\"></span>s at 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2025, \u00a3<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n of los<span class=\"_ _2\"></span>ses (<span class=\"_ _2\"></span>202<span class=\"_ _0\"></span>4: \u00a3<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4 mil<span class=\"_ _2\"></span>lion o<span class=\"_ _2\"></span>f losses) r<span class=\"_ _0\"></span>emain in reserves that have<span class=\"_ _0\"></span> not been recycled to the<span class=\"_ _0\"></span> income statement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> as the Group continues to<span class=\"_ _0\"></span> hold the underly<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ments.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-551": {
   "value": "17<span class=\"_ _3\"></span>.5 Financial risk<span class=\"_ _0\"></span> management<span class=\"_ _314\"> </span>The Group seeks t<span class=\"_ _0\"></span>o protect it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial performance and<span class=\"_ _0\"></span> the value of its business from various risks including e<span class=\"_ _0\"></span>xposure to capital, credit, concentration, countr<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, liquidity,<span class=\"_ _0\"></span> set<span class=\"_ _2\"></span>tlement, cus<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>odial and market<span class=\"_ _0\"></span> (including foreign e<span class=\"_ _0\"></span>xchange and int<span class=\"_ _0\"></span>erest rate) risks. Details o<span class=\"_ _0\"></span>f these risks, which should be r<span class=\"_ _0\"></span>ead in co<span class=\"_ _2\"></span>njun<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the P<span class=\"_ _2\"></span>rinc<span class=\"_ _2\"></span>ipal R<span class=\"_ _2\"></span>isks o<span class=\"_ _2\"></span>n pag<span class=\"_ _2\"></span>es 52 to 55, a<span class=\"_ _2\"></span>re prov<span class=\"_ _2\"></span>ided b<span class=\"_ _2\"></span>elo<span class=\"_ _2\"></span>w<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Capital risk<span class=\"_ _314\"> </span>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>Capital risk relates<span class=\"_ _0\"></span> to the Group<span class=\"_ _0\"></span>\u2019s ability to meet regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y capital requir<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and minimum internal in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ment r<span class=\"_ _0\"></span>eturns.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>ere is a r<span class=\"_ _2\"></span>isk t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s ent<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies m<span class=\"_ _2\"></span>ay not m<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>, or ha<span class=\"_ _2\"></span>ve con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>ued ac<span class=\"_ _2\"></span>cess t<span class=\"_ _2\"></span>o, suf<span class=\"_ _2\"></span>ficient high-<span class=\"_ _2\"></span>quality capital to meet<span class=\"_ _0\"></span> their regulatory,<span class=\"_ _0\"></span> or other obligations. This c<span class=\"_ _0\"></span>ould result in<span class=\"_ _0\"></span> a loss of<span class=\"_ _0\"></span> regulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> approvals and/or the imposition of financial sanctions.<span class=\"_ _314\"> </span>Either separately,<span class=\"_ _0\"></span> or in combination, the main capital risks faced by<span class=\"_ _0\"></span> the Group are<span class=\"_ _0\"></span>: <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">An increased regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y capital requir<span class=\"_ _0\"></span>ement </span>of its regulated<span class=\"_ _0\"></span> companies <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Realised, negative yields on its invest<span class=\"_ _2\"></span>ments</span> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">A<span class=\"_ _2\"></span>n inab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y to rai<span class=\"_ _2\"></span>se deb<span class=\"_ _2\"></span>t or eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>anci<span class=\"_ _2\"></span>ng </span>as a re<span class=\"_ _2\"></span>sul<span class=\"_ _2\"></span>t of it<span class=\"_ _2\"></span>s own p<span class=\"_ _2\"></span>oor f<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>nanc<span class=\"_ _2\"></span>ial per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance, or<span class=\"_ _0\"></span> poor financing conditions<span class=\"_ _314\"> </span>The Group,<span class=\"_ _0\"></span> which consists of both regulat<span class=\"_ _0\"></span>ed and unregulat<span class=\"_ _0\"></span>ed entit<span class=\"_ _2\"></span>ies,<span class=\"_ _0\"></span> is profit<span class=\"_ _2\"></span>able<span class=\"_ _0\"></span> and strongly cash ge<span class=\"_ _2\"></span>nera<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve. It c<span class=\"_ _2\"></span>an ma<span class=\"_ _2\"></span>nage i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l st<span class=\"_ _2\"></span>ruc<span class=\"_ _2\"></span>tu<span class=\"_ _2\"></span>re (wh<span class=\"_ _2\"></span>ich co<span class=\"_ _2\"></span>nsi<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s of eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d deb<span class=\"_ _2\"></span>t cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l) an<span class=\"_ _2\"></span>d reac<span class=\"_ _2\"></span>t to changes in<span class=\"_ _0\"></span> economic conditions<span class=\"_ _0\"></span> by var<span class=\"_ _2\"></span>ying<span class=\"_ _0\"></span> returns to<span class=\"_ _0\"></span> shareholders, issuing<span class=\"_ _0\"></span> new shares<span class=\"_ _0\"></span> or increasi<span class=\"_ _0\"></span>ng or reducing borr<span class=\"_ _0\"></span>owings. The Board<span class=\"_ _0\"></span> reviews dividend policy and funding<span class=\"_ _0\"></span> capacit<span class=\"_ _2\"></span>y on<span class=\"_ _0\"></span> a regular<span class=\"_ _0\"></span> basis and the Group maintains c<span class=\"_ _0\"></span>omfor<span class=\"_ _2\"></span>table lev<span class=\"_ _0\"></span>els of debt<span class=\"_ _0\"></span> facilit<span class=\"_ _2\"></span>y headroom. A<span class=\"_ _0\"></span> high-<span class=\"_ _2\"></span>level<span class=\"_ _0\"></span> summar<span class=\"_ _2\"></span>y o<span class=\"_ _0\"></span>f the Group\u2019<span class=\"_ _0\"></span>s capital s<span class=\"_ _2\"></span>tru<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ure is p<span class=\"_ _2\"></span>rese<span class=\"_ _2\"></span>nted b<span class=\"_ _2\"></span>elow<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span><table class=\"s w861 h28d\" id=\"_e05e6688-ef72-4201-a601-aac3463eb5af\"><tr><td></td><td class=\"c n xdd1 y2401 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2401 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2402 w862 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls7b wsb4\">Book value of capital<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd3 y2402 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd4 y2402 w5fb h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w863 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> shareholders\u2019 funds<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd5 y22e4 w121 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">19,7<span class=\"_ _2\"></span>79<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd6 y22e4 w15e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6f ws99\">23<span class=\"_ _2\"></span>,013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w864 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Group borrowings<span class=\"_ _0\"></span> excluding<span class=\"_ _0\"></span> lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd7 y2069 w6f4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls39 ws0\">11<span class=\"_ _2\"></span>,091<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdd8 h193 y2403 ff76 fs129 fc1 sc0 ls4 ws3\">9,3<span class=\"_ _2\"></span>31<span class=\"_ _314\"> </span></td></tr></table>Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p main<span class=\"_ _2\"></span>tai<span class=\"_ _2\"></span>ns a C<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal M<span class=\"_ _2\"></span>anag<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nt Pol<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, th<span class=\"_ _2\"></span>e execu<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>s over<span class=\"_ _2\"></span>see<span class=\"_ _2\"></span>n by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s Financial, Investment and Capital Committee. The Group seeks<span class=\"_ _0\"></span> to optimally allocate capital in<span class=\"_ _0\"></span> order to maintain a strong bal<span class=\"_ _0\"></span>ance sheet, meet r<span class=\"_ _0\"></span>egulator<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>equirements<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> dri<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> growt<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> and of<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>er suitable returns to shar<span class=\"_ _0\"></span>eholders<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Regulated entities within the Group monitor<span class=\"_ _0\"></span> compliance with policy and the capital requirements set<span class=\"_ _0\"></span> by their respective regulatory authori<span class=\"_ _2\"></span>ties and<span class=\"_ _0\"></span> they have been<span class=\"_ _0\"></span> compliant throughout the year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Regulatory and operational capital represents: <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Amount<span class=\"_ _2\"></span>s held<span class=\"_ _0\"></span> as regulatory cash and cash<span class=\"_ _0\"></span> equiv<span class=\"_ _2\"></span>alents </span> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">Let<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>rs of c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t iss<span class=\"_ _2\"></span>ued b<span class=\"_ _2\"></span>y the G<span class=\"_ _2\"></span>roup t<span class=\"_ _2\"></span>o cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>rs an<span class=\"_ _2\"></span>d sup<span class=\"_ _2\"></span>plie<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></span>The Group\u2019<span class=\"_ _0\"></span>s total<span class=\"_ _0\"></span> regulatory and operational capital is shown<span class=\"_ _0\"></span> below<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span><table class=\"s w865 h275\" id=\"_0532d944-f7eb-4509-b9c4-1a60df215b43\"><tr><td></td><td class=\"c n xdd1 y2404 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2404 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e2 w866 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">Regulatory and operational capital<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd9 y22e2 w34 h225\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xdda y22e2 w5fb h225\"><div class=\"t m0 x1e4 h187 y20d6 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w867 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Regulatory cash and cash<span class=\"_ _0\"></span> equiv<span class=\"_ _2\"></span>alents<span class=\"_ _314\"> </span></div></td><td class=\"c n xddb y2288 w868 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xddc y2288 w869 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>342<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w86a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Let<span class=\"_ _2\"></span>ter<span class=\"_ _2\"></span>s of cre<span class=\"_ _2\"></span>dit<span class=\"_ _314\"> </span></div></td><td class=\"c n xddd y228f w639 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">16<span class=\"_ _314\"> </span></div></td><td class=\"c n xdde y228f wa0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">16<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w86b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y and<span class=\"_ _0\"></span> operational capital<span class=\"_ _314\"> </span></div></td><td class=\"c n xddf y2069 w86c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">1<span class=\"_ _2\"></span>,204<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdd8 h193 y2405 ff76 fs129 fc1 sc0 ls6c ws96\">1,<span class=\"_ _2\"></span>358<span class=\"_ _314\"> </span></td></tr></table>T<span class=\"_ _0\"></span>o ens<span class=\"_ _2\"></span>ure on<span class=\"_ _2\"></span>goi<span class=\"_ _2\"></span>ng f<span class=\"_ _2\"></span>inan<span class=\"_ _2\"></span>cial s<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>eng<span class=\"_ _2\"></span>th, a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s to new c<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal a<span class=\"_ _2\"></span>t a reaso<span class=\"_ _2\"></span>nab<span class=\"_ _2\"></span>le cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>, and to su<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ain a<span class=\"_ _2\"></span>n inv<span class=\"_ _2\"></span>est<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t gra<span class=\"_ _2\"></span>de cre<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p moni<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s it<span class=\"_ _2\"></span>s lev<span class=\"_ _2\"></span>erag<span class=\"_ _2\"></span>e rat<span class=\"_ _2\"></span>io ag<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>st a t<span class=\"_ _2\"></span>arget r<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>e of 1<span class=\"_ _2\"></span>.5<span class=\"_ _2\"></span>-2.5 ti<span class=\"_ _2\"></span>mes<span class=\"_ _2\"></span>. Leve<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>e is ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated a<span class=\"_ _2\"></span>s ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ing n<span class=\"_ _2\"></span>et deb<span class=\"_ _2\"></span>t (i.e<span class=\"_ _2\"></span>., net d<span class=\"_ _2\"></span>ebt af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r exclu<span class=\"_ _2\"></span>ding l<span class=\"_ _2\"></span>eas<span class=\"_ _2\"></span>e liab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>tie<span class=\"_ _2\"></span>s and am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>ts set aside<span class=\"_ _0\"></span> for r<span class=\"_ _0\"></span>egulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> and operational purposes)<span class=\"_ _0\"></span> to adjusted<span class=\"_ _0\"></span> EBIT<span class=\"_ _2\"></span>D<span class=\"_ _0\"></span>A befor<span class=\"_ _0\"></span>e fore<span class=\"_ _0\"></span>ign exc<span class=\"_ _0\"></span>hange gains or<span class=\"_ _0\"></span> losses (Group<span class=\"_ _0\"></span> adjusted earnings from<span class=\"_ _0\"></span> continuing operations bef<span class=\"_ _0\"></span>ore net<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inanc<span class=\"_ _0\"></span>e costs, tax<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> depreciation, amor<span class=\"_ _2\"></span>tisation and<span class=\"_ _0\"></span> impairment and be<span class=\"_ _0\"></span>fore f<span class=\"_ _0\"></span>oreign e<span class=\"_ _0\"></span>xchange gains<span class=\"_ _0\"></span> or losses).<span class=\"_ _0\"></span> At 31<span class=\"_ gs5a0\"> </span><span class=\"_ _0\"></span>December 20<span class=\"_ _0\"></span>25, le<span class=\"_ _0\"></span>verage wa<span class=\"_ _2\"></span>s 1.<span class=\"_ _2\"></span>8 tim<span class=\"_ _2\"></span>es (2024: 1.7 t<span class=\"_ _2\"></span>ime<span class=\"_ _2\"></span>s).<span class=\"_ _314\"> </span>While the Group\u2019<span class=\"_ _0\"></span>s bank<span class=\"_ _0\"></span> borrowing facilities do not inc<span class=\"_ _0\"></span>lude leverage and int<span class=\"_ _0\"></span>erest cover<span class=\"_ _0\"></span> ratio covenants, the Group takes<span class=\"_ _0\"></span> into acc<span class=\"_ _0\"></span>ount the potential impact to<span class=\"_ _0\"></span> the key<span class=\"_ _0\"></span> metric<span class=\"_ _2\"></span>s monitor<span class=\"_ _0\"></span>ed by credit<span class=\"_ _0\"></span> rat<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> agencies when con<span class=\"_ _2\"></span>sid<span class=\"_ _2\"></span>erin<span class=\"_ _2\"></span>g whe<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r to inc<span class=\"_ _2\"></span>rease t<span class=\"_ _2\"></span>he si<span class=\"_ _2\"></span>z<span class=\"_ _0\"></span>e of i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs an<span class=\"_ _2\"></span>d net d<span class=\"_ _2\"></span>ebt<span class=\"_ _2\"></span>. The G<span class=\"_ _2\"></span>roup s<span class=\"_ _2\"></span>eek<span class=\"_ _2\"></span>s to mai<span class=\"_ _2\"></span>nta<span class=\"_ _2\"></span>in a st<span class=\"_ _2\"></span>ron<span class=\"_ _2\"></span>g inv<span class=\"_ _2\"></span>est<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t gra<span class=\"_ _2\"></span>de cre<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>ing an<span class=\"_ _2\"></span>d wil<span class=\"_ _2\"></span>l alw<span class=\"_ _2\"></span>ays s<span class=\"_ _2\"></span>eek to re<span class=\"_ _2\"></span>tur<span class=\"_ _2\"></span>n leve<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>e to it<span class=\"_ _2\"></span>s tar<span class=\"_ _2\"></span>get ra<span class=\"_ _2\"></span>nge i<span class=\"_ _2\"></span>f it r<span class=\"_ _2\"></span>ises te<span class=\"_ _2\"></span>mpo<span class=\"_ _2\"></span>rar<span class=\"_ _2\"></span>ily.<span class=\"_ _314\"> </span>Cre<span class=\"_ _2\"></span>dit and co<span class=\"_ _2\"></span>ncent<span class=\"_ _2\"></span>ratio<span class=\"_ _2\"></span>n risk<span class=\"_ _314\"> </span>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>Cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk re<span class=\"_ _2\"></span>late<span class=\"_ _2\"></span>s to the p<span class=\"_ _2\"></span>oten<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>l for a G<span class=\"_ _2\"></span>roup counterpart<span class=\"_ _2\"></span>y (including C<span class=\"_ _0\"></span>CP members, and any count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> where there is<span class=\"_ _0\"></span> exposure through payment, clearing<span class=\"_ _0\"></span> or settlement pro<span class=\"_ _2\"></span>ces<span class=\"_ _2\"></span>ses) to b<span class=\"_ _2\"></span>e unab<span class=\"_ _2\"></span>le to me<span class=\"_ _2\"></span>et it<span class=\"_ _2\"></span>s f<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>ncia<span class=\"_ _2\"></span>l obligations to the<span class=\"_ _0\"></span> Group when due.<span class=\"_ _314\"> </span>Credit conc<span class=\"_ _0\"></span>entrat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> risk may a<span class=\"_ _0\"></span>rise through Group entities having large<span class=\"_ _0\"></span> indiv<span class=\"_ _2\"></span>idual or connected exposures<span class=\"_ _0\"></span> to groups<span class=\"_ _0\"></span> of counterpart<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> whose likelihood<span class=\"_ _0\"></span> of default is driven<span class=\"_ _0\"></span> by common underlying factors.<span class=\"_ _314\"> </span>Group<span class=\"_ _314\"> </span>Cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk i<span class=\"_ _2\"></span>s gove<span class=\"_ _2\"></span>rne<span class=\"_ _2\"></span>d by pol<span class=\"_ _2\"></span>icie<span class=\"_ _2\"></span>s deve<span class=\"_ _2\"></span>lop<span class=\"_ _2\"></span>ed at G<span class=\"_ _2\"></span>roup l<span class=\"_ _2\"></span>evel b<span class=\"_ _2\"></span>y the G<span class=\"_ _2\"></span>roup R<span class=\"_ _2\"></span>isk f<span class=\"_ _2\"></span>unc<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on. L<span class=\"_ _2\"></span>imi<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d th<span class=\"_ _2\"></span>resho<span class=\"_ _2\"></span>lds<span class=\"_ _2\"></span> for c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t and co<span class=\"_ _2\"></span>ncen<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on ri<span class=\"_ _2\"></span>sk are re<span class=\"_ _2\"></span>view<span class=\"_ _2\"></span>ed reg<span class=\"_ _2\"></span>ular<span class=\"_ _2\"></span>ly.<span class=\"_ _314\"> </span>Gr<span class=\"_ _2\"></span>oup co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>ies ma<span class=\"_ _2\"></span>ke jud<span class=\"_ _2\"></span>geme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s on t<span class=\"_ _2\"></span>he cre<span class=\"_ _2\"></span>dit q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>eir cl<span class=\"_ _2\"></span>ient<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>. This i<span class=\"_ _2\"></span>s bas<span class=\"_ _2\"></span>ed on t<span class=\"_ _2\"></span>he cli<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>\u2019s financial position, the recurring nature<span class=\"_ _0\"></span> of billing<span class=\"_ _0\"></span> and collect<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> arrangement<span class=\"_ _2\"></span>s, and<span class=\"_ _0\"></span> his<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>orical evidence rel<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng to th<span class=\"_ _2\"></span>e clie<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>\u2019s abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y to me<span class=\"_ _2\"></span>et it<span class=\"_ _2\"></span>s f<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>ncia<span class=\"_ _2\"></span>l liab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>tie<span class=\"_ _2\"></span>s as th<span class=\"_ _2\"></span>ey fal<span class=\"_ _2\"></span>l due. T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s cl<span class=\"_ _2\"></span>ient b<span class=\"_ _2\"></span>ase i<span class=\"_ _2\"></span>s dive<span class=\"_ _2\"></span>rs<span class=\"_ _2\"></span>e an<span class=\"_ _2\"></span>d so man<span class=\"_ _2\"></span>agem<span class=\"_ _2\"></span>ent d<span class=\"_ _2\"></span>eem<span class=\"_ _2\"></span>s conce<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion r<span class=\"_ _2\"></span>isk on t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s re<span class=\"_ _2\"></span>ceiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>es to be l<span class=\"_ _2\"></span>ow. Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s main c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t ris<span class=\"_ _2\"></span>k exp<span class=\"_ _2\"></span>osure a<span class=\"_ _2\"></span>ris<span class=\"_ _2\"></span>es on t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>inan<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts s<span class=\"_ _2\"></span>hown e<span class=\"_ _2\"></span>arl<span class=\"_ _2\"></span>ier in n<span class=\"_ _2\"></span>ote<span class=\"_ gs5a0\"> </span>17.<span class=\"_ _0\"></span>1<span class=\"_ _2\"></span>. The<span class=\"_ _2\"></span>re have<span class=\"_ _2\"></span> be<span class=\"_ _2\"></span>en no si<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t incr<span class=\"_ _2\"></span>ease<span class=\"_ _2\"></span>s in cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk fo<span class=\"_ _2\"></span>r the<span class=\"_ _2\"></span>se as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s and n<span class=\"_ _2\"></span>o est<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>ted cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t los<span class=\"_ _2\"></span>ses ha<span class=\"_ _2\"></span>ve bee<span class=\"_ _2\"></span>n recognised on<span class=\"_ _0\"></span> other financial instr<span class=\"_ _2\"></span>uments.<span class=\"_ _314\"> </span>Non-<span class=\"_ _2\"></span>CCP entities<span class=\"_ _314\"> </span>The principal sour<span class=\"_ _0\"></span>ce of non-CCP credit risk is<span class=\"_ _0\"></span> the credit<span class=\"_ _2\"></span>worthiness of the inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties with which the Group<span class=\"_ _0\"></span> deposit<span class=\"_ _2\"></span>s cash. The<span class=\"_ _0\"></span> Group manages its credit risk<span class=\"_ _0\"></span> by outlining the maximum financial exposure that<span class=\"_ _0\"></span> may be tak<span class=\"_ _0\"></span>en against any one<span class=\"_ _0\"></span> counterpar<span class=\"_ _2\"></span>ty,<span class=\"_ _0\"></span> based on an<span class=\"_ _0\"></span> assessment of the count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ty<span class=\"_ _2\"></span>\u2019s<span class=\"_ _0\"></span> credit qualit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Cash and cash<span class=\"_ _0\"></span> equi<span class=\"_ _2\"></span>valents are<span class=\"_ _0\"></span> held with authorise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> counterpar<span class=\"_ _2\"></span>ties o<span class=\"_ _0\"></span>f a high cr<span class=\"_ _0\"></span>edit<span class=\"_ _2\"></span>wort<span class=\"_ _2\"></span>hiness. Cash is<span class=\"_ _0\"></span> held in unsecured<span class=\"_ _0\"></span> interest-bearing current and call<span class=\"_ _0\"></span> accounts. Cash equivalent<span class=\"_ _2\"></span>s comprise<span class=\"_ _0\"></span> shor<span class=\"_ _2\"></span>t-term deposits and A<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>-r<span class=\"_ _2\"></span>ated m<span class=\"_ _2\"></span>oney m<span class=\"_ _2\"></span>arket f<span class=\"_ _2\"></span>und<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>De<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve t<span class=\"_ _2\"></span>rans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ons (an<span class=\"_ _2\"></span>d oth<span class=\"_ _2\"></span>er tr<span class=\"_ _2\"></span>easu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y recei<span class=\"_ _2\"></span>vab<span class=\"_ _2\"></span>le s<span class=\"_ _2\"></span>tru<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ures) m<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t be in li<span class=\"_ _2\"></span>ne wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s po<span class=\"_ _2\"></span>lic<span class=\"_ _2\"></span>y framework and may<span class=\"_ _0\"></span> only be undertaken with highly rated count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ties.<span class=\"_ _314\"> </span>CCPs<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e prin<span class=\"_ _2\"></span>cip<span class=\"_ _2\"></span>al sou<span class=\"_ _2\"></span>rce of CC<span class=\"_ _2\"></span>P cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk li<span class=\"_ _2\"></span>es in t<span class=\"_ _2\"></span>he pot<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>ial for o<span class=\"_ _2\"></span>ne or m<span class=\"_ _2\"></span>ore cl<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>ing me<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>rs to d<span class=\"_ _2\"></span>efau<span class=\"_ _2\"></span>lt<span class=\"_ _2\"></span>. Group CCPs manage<span class=\"_ _0\"></span> this risk through r<span class=\"_ _0\"></span>obus<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> risk management. Clearing members are<span class=\"_ _0\"></span> selec<span class=\"_ _2\"></span>ted based on an<span class=\"_ _0\"></span> assessment of their s<span class=\"_ _0\"></span>uper<span class=\"_ _2\"></span>visor<span class=\"_ _2\"></span>y capital as<span class=\"_ _0\"></span> well as their t<span class=\"_ _0\"></span>echnical and organisational strength. Eac<span class=\"_ _2\"></span>h mem<span class=\"_ _2\"></span>ber mu<span class=\"_ _2\"></span>st p<span class=\"_ _2\"></span>ay mar<span class=\"_ _2\"></span>gins t<span class=\"_ _2\"></span>o the re<span class=\"_ _2\"></span>leva<span class=\"_ _2\"></span>nt G<span class=\"_ _2\"></span>roup CC<span class=\"_ _2\"></span>P<span class=\"_ _3\"></span>. Th<span class=\"_ _2\"></span>is mu<span class=\"_ _2\"></span>st in<span class=\"_ _2\"></span>clu<span class=\"_ _2\"></span>de a min<span class=\"_ _2\"></span>imu<span class=\"_ _2\"></span>m level o<span class=\"_ _2\"></span>f cas<span class=\"_ _2\"></span>h and can also include<span class=\"_ _0\"></span> highly liquid securities. Clearing members also c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ribute<span class=\"_ _0\"></span> to default funds<span class=\"_ _0\"></span> managed by the Gr<span class=\"_ _2\"></span>oup CC<span class=\"_ _2\"></span>Ps. T<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e aim to p<span class=\"_ _2\"></span>rotec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he int<span class=\"_ _2\"></span>egr<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e mar<span class=\"_ _2\"></span>kets i<span class=\"_ _2\"></span>n the e<span class=\"_ _2\"></span>vent o<span class=\"_ _2\"></span>f mul<span class=\"_ _2\"></span>tip<span class=\"_ _2\"></span>le def<span class=\"_ _2\"></span>aul<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>n ex<span class=\"_ _2\"></span>trem<span class=\"_ _2\"></span>e market<span class=\"_ _0\"></span> circumstances. Group CCPs use<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tress<span class=\"_ _0\"></span> test<span class=\"_ _2\"></span>s t<span class=\"_ _0\"></span>o determine the<span class=\"_ _0\"></span> appropriate margin<span class=\"_ _0\"></span> and default fund req<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>. Thes<span class=\"_ _2\"></span>e are rev<span class=\"_ _2\"></span>iew<span class=\"_ _2\"></span>ed by CC<span class=\"_ _2\"></span>P risk c<span class=\"_ _2\"></span>ommi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>tees w<span class=\"_ _2\"></span>ho c<span class=\"_ _2\"></span>an take a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>s app<span class=\"_ _2\"></span>ropr<span class=\"_ _2\"></span>iate<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>CCPs are<span class=\"_ _0\"></span> required by<span class=\"_ _0\"></span> regulation to hold<span class=\"_ _0\"></span> a minimum amount<span class=\"_ _0\"></span> of capital (regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y capital). Each<span class=\"_ _0\"></span> of the Group\u2019<span class=\"_ _0\"></span>s CCPs maintains this<span class=\"_ _0\"></span> regulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> capit<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> requirement, together with an additional holding<span class=\"_ _0\"></span> of its ow<span class=\"_ _2\"></span>n cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l. Th<span class=\"_ _2\"></span>is add<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>iona<span class=\"_ _2\"></span>l cap<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>al is to h<span class=\"_ _2\"></span>elp ma<span class=\"_ _2\"></span>nage c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t ri<span class=\"_ _2\"></span>sk dur<span class=\"_ _2\"></span>ing a si<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t mar<span class=\"_ _2\"></span>ket st<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>s event<span class=\"_ _2\"></span> or member<span class=\"_ _0\"></span> default.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e tota<span class=\"_ _2\"></span>l clea<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g memb<span class=\"_ _2\"></span>er co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ibu<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns of ma<span class=\"_ _2\"></span>rgi<span class=\"_ _2\"></span>n and de<span class=\"_ _2\"></span>faul<span class=\"_ _2\"></span>t fu<span class=\"_ _2\"></span>nds ac<span class=\"_ _2\"></span>ross t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup CC<span class=\"_ _2\"></span>Ps i<span class=\"_ _2\"></span>s show<span class=\"_ _2\"></span>n bel<span class=\"_ _2\"></span>ow:<span class=\"_ _314\"> </span><table class=\"s w878 h28e\" id=\"_3f23d898-14ce-47b1-98fd-9669e89832e5\"><tr><td></td><td></td><td class=\"c n xdd1 y2406 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2406 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2407 w879 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 lse5 ws75\">T<span class=\"_ _0\"></span>otal collat<span class=\"_ _0\"></span>eral held<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdeb y2407 w87a h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3bn<span class=\"_ _314\"> </span></div></td><td class=\"c n xdec y2407 w248 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls77 wsa0\">\u00a3bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f7 w87b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Collateral securit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></div></td><td class=\"c n xded y23f7 w87c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wse8\">Cash<span class=\"_ _0\"></span> receiv<span class=\"_ _0\"></span>ed<span class=\"_ _314\"> </span></div></td><td class=\"c n xdee y23f7 w87d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls88 wsb4\">91<span class=\"_ _314\"> </span></div></td><td class=\"c n xdef y23f7 w567 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">92<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xdf0 y22e2 w87e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Non-<span class=\"_ _2\"></span>cash pledged<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf1 y22e2 w87f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">186<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf2 y22e2 w880 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xdf0 y22e3 w881 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Guarantees pledged<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf3 y22e3 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf4 y22e3 w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w882 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ota<span class=\"_ _2\"></span>l coll<span class=\"_ _2\"></span>atera<span class=\"_ _2\"></span>l as at 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mber<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdf5 y22e4 w883 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6e ws98\">27<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf6 y22e4 w171 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">270<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w884 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Maximum collateral he<span class=\"_ _0\"></span>ld during the year<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdf7 y2069 web h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">303<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdf8 h193 y240a ff76 fs129 fc1 sc0 lsa1 wsda\">334<span class=\"_ _314\"> </span></td></tr></table>Gr<span class=\"_ _2\"></span>oup CC<span class=\"_ _2\"></span>Ps ma<span class=\"_ _2\"></span>nage t<span class=\"_ _2\"></span>he cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t ris<span class=\"_ _2\"></span>k asso<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>ted wi<span class=\"_ _2\"></span>th m<span class=\"_ _2\"></span>argi<span class=\"_ _2\"></span>n and de<span class=\"_ _2\"></span>faul<span class=\"_ _2\"></span>t fu<span class=\"_ _2\"></span>nd con<span class=\"_ _2\"></span>tri<span class=\"_ _2\"></span>bu<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns by in<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g the<span class=\"_ _2\"></span> cash element in<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments or structures deemed secure b<span class=\"_ _0\"></span>y the relevant<span class=\"_ _0\"></span> regulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> bodies. This includes direct investment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> in highly rated, regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y qualifying sovereign bonds<span class=\"_ _0\"></span> and supranational debt; investments in tri-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y and<span class=\"_ _0\"></span> bilateral re<span class=\"_ _0\"></span>verse repos (r<span class=\"_ _0\"></span>eceiving high-<span class=\"_ _2\"></span>qualit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> government securities as collateral);<span class=\"_ _0\"></span> and, in cert<span class=\"_ _2\"></span>ain<span class=\"_ _0\"></span> jurisdic<span class=\"_ _2\"></span>tions, deposits with the central bank. The small<span class=\"_ _0\"></span> propor<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> cash that is i<span class=\"_ _0\"></span>nvested unsecured is placed<span class=\"_ _0\"></span> for short durations with highly rated counterparties where limits are applied<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> respec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> to credit qualit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, c<span class=\"_ _0\"></span>oncentrat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> and tenor<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><table class=\"s w86d h28e\" id=\"_29b47f04-ea01-4815-8d20-981172e52eab\"><tr><td></td><td class=\"c n xdd1 y2406 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2406 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xde0 y2407 w86e h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3bn<span class=\"_ _314\"> </span></div></td><td class=\"c n xde1 y2407 w86f h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls77 wsa0\">\u00a3<span class=\"_ _2\"></span>bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f7 w870 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> investment por<span class=\"_ _2\"></span>tfolio<span class=\"_ _314\"> </span></div></td><td class=\"c n xde2 y23f7 w591 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">90<span class=\"_ _314\"> </span></div></td><td class=\"c n xde3 y23f7 w164 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">90<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e2 w871 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ma<span class=\"_ _2\"></span>xim<span class=\"_ _2\"></span>um po<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tfo<span class=\"_ _2\"></span>lio si<span class=\"_ _2\"></span>z<span class=\"_ _0\"></span>e d<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g the y<span class=\"_ _2\"></span>ear<span class=\"_ _314\"> </span></div></td><td class=\"c n xde4 y22e2 w1fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">107<span class=\"_ _314\"> </span></div></td><td class=\"c n xde5 y22e2 w872 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws126\">110<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 xde6 h187 y2408 ff75 fs129 fc1 sc0 ls6d wsd4\">Additional port<span class=\"_ _2\"></span>folio information<span class=\"_ _0\"></span>:<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22e4 w873 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Propor<span class=\"_ _2\"></span>tion invested<span class=\"_ _0\"></span> securely<span class=\"_ _314\"> </span></div></td><td class=\"c n xde7 y22e4 w874 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">99.9<span class=\"_ _2\"></span>5%<span class=\"_ _314\"> </span></div></td><td class=\"c n xde8 y22e4 w875 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">99.98<span class=\"_ _2\"></span>%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w876 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Weig<span class=\"_ _2\"></span>hted a<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>age ma<span class=\"_ _2\"></span>tur<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y (day<span class=\"_ _2\"></span>s)<span class=\"_ _314\"> </span></div></td><td class=\"c n xde9 y2069 w877 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">82<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdea h193 y2409 ff76 fs129 fc1 sc0 lsab wsd4\">72<span class=\"_ _314\"> </span></td></tr></table>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>Associated liquidit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> risks are consider<span class=\"_ _0\"></span>ed in the investment mix and<span class=\"_ _0\"></span> discussed fur<span class=\"_ _2\"></span>ther below<span class=\"_ _0\"></span> in the Liquidit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, Sett<span class=\"_ _2\"></span>lement<span class=\"_ _0\"></span> and Custodial risk<span class=\"_ _0\"></span> sec<span class=\"_ _2\"></span>tion.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>o address concentration risk, the Group ma<span class=\"_ _0\"></span>intains a diversif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> por<span class=\"_ _2\"></span>tfolio of high-quali<span class=\"_ _2\"></span>ty<span class=\"_ _0\"></span>, liquid investments and uses a<span class=\"_ _0\"></span> broad range of<span class=\"_ _0\"></span> custodians, payment and settlement banks and agents. The largest c<span class=\"_ _0\"></span>oncentrat<span class=\"_ _2\"></span>ion of t<span class=\"_ _2\"></span>reasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y exp<span class=\"_ _2\"></span>osure<span class=\"_ _2\"></span>s as at 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er 2025 was w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the F<span class=\"_ _2\"></span>rench G<span class=\"_ _2\"></span>ove<span class=\"_ _2\"></span>rnme<span class=\"_ _2\"></span>nt w<span class=\"_ _2\"></span>ith a<span class=\"_ _2\"></span>n agg<span class=\"_ _2\"></span>rega<span class=\"_ _2\"></span>te exp<span class=\"_ _2\"></span>osu<span class=\"_ _2\"></span>re of 41% of t<span class=\"_ _2\"></span>he to<span class=\"_ _2\"></span>tal in<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent po<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tfo<span class=\"_ _2\"></span>lio (<span class=\"_ _2\"></span>202<span class=\"_ _0\"></span>4: 4<span class=\"_ _2\"></span>0% wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he Fre<span class=\"_ _2\"></span>nch G<span class=\"_ _2\"></span>over<span class=\"_ _2\"></span>nme<span class=\"_ _2\"></span>nt)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>rade rec<span class=\"_ _0\"></span>eivables (including fees receivable)<span class=\"_ _314\"> </span>An i<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt an<span class=\"_ _2\"></span>aly<span class=\"_ _2\"></span>sis of t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>de an<span class=\"_ _2\"></span>d fees re<span class=\"_ _2\"></span>ceiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e is pe<span class=\"_ _2\"></span>rf<span class=\"_ _2\"></span>orm<span class=\"_ _2\"></span>ed mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>ly us<span class=\"_ _2\"></span>ing a pr<span class=\"_ _2\"></span>ovi<span class=\"_ _2\"></span>sion m<span class=\"_ _2\"></span>atr<span class=\"_ _2\"></span>ix to measure<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> credit losses bas<span class=\"_ _0\"></span>ed on factors such as<span class=\"_ _0\"></span> the counterpart<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _0\"></span> historic payment practices, expected future payments and the economic<span class=\"_ _0\"></span> environment at large.<span class=\"_ _0\"></span> The calculation re<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>lect<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> current conditions together<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> forecast<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of future ec<span class=\"_ _0\"></span>onomic conditions. None of<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s trade rec<span class=\"_ _0\"></span>eivables are mat<span class=\"_ _0\"></span>erial by individual count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ty.<span class=\"_ _314\"> </span><table class=\"s w889 h28f\" id=\"_759196ad-4a26-464b-8bb7-16630a753719\"><tr><td></td><td></td><td></td><td class=\"t m0 xe05 h13 y240c ff75 fs6 fc1 sc0 ls12 ws44\">T<span class=\"_ _0\"></span>rade rec<span class=\"_ _0\"></span>eivables<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xe06 h13 y240d ff75 fs6 fc1 sc0 ls4 ws3\">Fees </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c n xe07 y240e w88a h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls7a wsbe\">receivable<span class=\"_ _314\"> </span></div></td><td class=\"c n xe08 y240e w88b h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">&lt;<span class=\"_ _2\"></span>18<span class=\"_ _2\"></span>0 days<span class=\"_ _314\"> </span></div></td><td class=\"c n xe09 y240e w88c h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">&gt;180 d<span class=\"_ _2\"></span>ays<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0a y240e w52c h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _1\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y240f w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0b y240f w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0c y240f w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0d y240f w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0e y240f w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w88d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed credit<span class=\"_ _0\"></span> loss rate<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0f y213d w88e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6d ws97\">&lt;1%<span class=\"_ _314\"> </span></div></td><td class=\"c n xe10 y213d w88e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6d ws97\">&lt;1%<span class=\"_ _314\"> </span></div></td><td class=\"c n xe11 y213d w88f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">23.9%<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c n x1eb y20d9 w890 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> receivables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe12 y20d9 w571 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">388<span class=\"_ _314\"> </span></div></td><td class=\"c n xe13 y20d9 w328 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">869<span class=\"_ _314\"> </span></div></td><td class=\"c n xe14 y20d9 w891 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">88<span class=\"_ _314\"> </span></div></td><td class=\"c n xe15 y20d9 w892 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">1,<span class=\"_ _2\"></span>345<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w893 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed credit<span class=\"_ _0\"></span> loss<span class=\"_ _314\"> </span></div></td><td class=\"c n xe16 y20da w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe17 y20da w560 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe18 y20da w136 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe19 y20da w4a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(23)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w894 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t trad<span class=\"_ _2\"></span>e and fe<span class=\"_ _2\"></span>es re<span class=\"_ _2\"></span>ceiv<span class=\"_ _2\"></span>able<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xe1a y2069 w571 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa9 ws7e\">388<span class=\"_ _314\"> </span></div></td><td class=\"c n xe1b y2069 w224 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaa wsd6\">866<span class=\"_ _314\"> </span></div></td><td class=\"c n xe1c y2069 w777 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xe1d y2069 w625 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,322<span class=\"_ _314\"> </span></div></td></tr></table><table class=\"s w895 h290\" id=\"_aa0e5234-4eb5-4d2d-bba9-3326c6fa00cb\"><tr><td></td><td></td><td></td><td class=\"t m0 xe1e hb y2410 ff76 fs6 fc1 sc0 ls27 ws43\">T<span class=\"_ _0\"></span>rade rece<span class=\"_ _0\"></span>ivab<span class=\"_ _2\"></span>les<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xe06 hb y2411 ff76 fs6 fc1 sc0 ls4 ws3\">Fee<span class=\"_ _2\"></span>s </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c n xe1f y2412 w896 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls77 wsa0\">receivable<span class=\"_ _314\"> </span></div></td><td class=\"c n xe20 y2412 w897 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">&lt;<span class=\"_ _2\"></span>180 d<span class=\"_ _2\"></span>ays<span class=\"_ _314\"> </span></div></td><td class=\"c n xe21 y2412 w898 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls119 ws122\">&gt;18<span class=\"_ _2\"></span>0 day<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xe22 y2412 w899 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2413 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe23 y2413 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe24 y2413 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x316 y2413 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe25 y2413 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w88d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed credit<span class=\"_ _0\"></span> loss rate<span class=\"_ _314\"> </span></div></td><td class=\"c n xe26 y214c w89a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">&lt;<span class=\"_ _2\"></span>1%<span class=\"_ _314\"> </span></div></td><td class=\"c n xe27 y214c w89a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">&lt;<span class=\"_ _2\"></span>1%<span class=\"_ _314\"> </span></div></td><td class=\"c n xe28 y214c w89b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wsda\">18.0%<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c n x1eb y213e w890 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> receivables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe12 y213e w89c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">300<span class=\"_ _314\"> </span></div></td><td class=\"c n xe29 y213e w41b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">865<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2a y213e w551 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2b y213e w89d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1,<span class=\"_ _2\"></span>251<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w893 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed credit<span class=\"_ _0\"></span> loss<span class=\"_ _314\"> </span></div></td><td class=\"c n xe16 y214f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2c y214f w53c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2d y214f w845 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(18)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2e y214f w89e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(<span class=\"_ _2\"></span>20)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w89f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t tra<span class=\"_ _2\"></span>de an<span class=\"_ _2\"></span>d fees re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>vab<span class=\"_ _2\"></span>les<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2f y2069 w89c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">300<span class=\"_ _314\"> </span></div></td><td class=\"c n xe30 y2069 w8a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">863<span class=\"_ _314\"> </span></div></td><td class=\"c n xe31 y2069 w101 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xe32 y2069 w626 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">1,<span class=\"_ _2\"></span>231<span class=\"_ _314\"> </span></div></td></tr></table>Countr<span class=\"_ _2\"></span>y risk<span class=\"_ _314\"> </span>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>Co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y risk r<span class=\"_ _2\"></span>elate<span class=\"_ _2\"></span>s to th<span class=\"_ _2\"></span>ose r<span class=\"_ _2\"></span>isks t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>re inherent when<span class=\"_ _0\"></span> doing business with, or op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g in, a co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>So<span class=\"_ _2\"></span>me gov<span class=\"_ _2\"></span>ernm<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s ma<span class=\"_ _2\"></span>y be una<span class=\"_ _2\"></span>ble o<span class=\"_ _2\"></span>r fi<span class=\"_ _2\"></span>nd it<span class=\"_ _2\"></span> di<span class=\"_ _2\"></span>ff<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>cul<span class=\"_ _2\"></span>t to ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ice th<span class=\"_ _2\"></span>eir d<span class=\"_ _2\"></span>ebt<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>is cou<span class=\"_ _2\"></span>ld ha<span class=\"_ _2\"></span>ve adverse effec<span class=\"_ _2\"></span>ts, par<span class=\"_ _2\"></span>ticularly on<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> CCPs, potentially impacting cleared products, margin c<span class=\"_ _0\"></span>ollateral, investment<span class=\"_ _2\"></span>s, the<span class=\"_ _0\"></span> clearing membership and the financial industr<span class=\"_ _2\"></span>y as<span class=\"_ _0\"></span> a wh<span class=\"_ _2\"></span>ole.<span class=\"_ _314\"> </span>In addition, geopolitical events could<span class=\"_ _0\"></span> impact ou<span class=\"_ _2\"></span>r abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y to op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>te in a cou<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>y o<span class=\"_ _2\"></span>r imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e val<span class=\"_ _2\"></span>ue of ou<span class=\"_ _2\"></span>r ass<span class=\"_ _2\"></span>ets i<span class=\"_ _2\"></span>n tha<span class=\"_ _2\"></span>t coun<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>y. We may eve<span class=\"_ _2\"></span>n nee<span class=\"_ _2\"></span>d to relo<span class=\"_ _2\"></span>cate a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies o<span class=\"_ _2\"></span>r chan<span class=\"_ _2\"></span>ge our operating model in r<span class=\"_ _0\"></span>esponse.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p has a co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y ris<span class=\"_ _2\"></span>k fra<span class=\"_ _2\"></span>mewo<span class=\"_ _2\"></span>rk wh<span class=\"_ _2\"></span>ich f<span class=\"_ _2\"></span>acil<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>tes as<span class=\"_ _2\"></span>ses<span class=\"_ _2\"></span>smen<span class=\"_ _2\"></span>t and m<span class=\"_ _2\"></span>oni<span class=\"_ _2\"></span>tori<span class=\"_ _2\"></span>ng of t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk as<span class=\"_ _2\"></span>soci<span class=\"_ _2\"></span>ated<span class=\"_ _2\"></span> wi<span class=\"_ _2\"></span>th d<span class=\"_ _2\"></span>oing b<span class=\"_ _2\"></span>usi<span class=\"_ _2\"></span>ness w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h, or o<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng in<span class=\"_ _2\"></span>, a coun<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>y.<span class=\"_ _314\"> </span>Gr<span class=\"_ _2\"></span>oup CC<span class=\"_ _2\"></span>Ps hav<span class=\"_ _2\"></span>e spe<span class=\"_ _2\"></span>cif<span class=\"_ _2\"></span>ic r<span class=\"_ _2\"></span>isk ma<span class=\"_ _2\"></span>nag<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>t fra<span class=\"_ _2\"></span>mewo<span class=\"_ _2\"></span>rk<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t addr<span class=\"_ _2\"></span>ess co<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y ris<span class=\"_ _2\"></span>k for bot<span class=\"_ _2\"></span>h cl<span class=\"_ _2\"></span>eari<span class=\"_ _2\"></span>ng an<span class=\"_ _2\"></span>d mar<span class=\"_ _2\"></span>gin o<span class=\"_ _2\"></span>per<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons<span class=\"_ _2\"></span>. Cont<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>ed in t<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e fra<span class=\"_ _2\"></span>mewo<span class=\"_ _2\"></span>rks a<span class=\"_ _2\"></span>re a sui<span class=\"_ _2\"></span>te of s<span class=\"_ _2\"></span>tres<span class=\"_ _2\"></span>s sce<span class=\"_ _2\"></span>nari<span class=\"_ _2\"></span>os th<span class=\"_ _2\"></span>at con<span class=\"_ _2\"></span>side<span class=\"_ _2\"></span>r dete<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion of so<span class=\"_ _2\"></span>verei<span class=\"_ _2\"></span>gn cre<span class=\"_ _2\"></span>dit q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y as we<span class=\"_ _2\"></span>ll as ot<span class=\"_ _2\"></span>her r<span class=\"_ _2\"></span>isk f<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s. Th<span class=\"_ _2\"></span>ese sce<span class=\"_ _2\"></span>nar<span class=\"_ _2\"></span>ios su<span class=\"_ _2\"></span>ppo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>t CCP<span class=\"_ _2\"></span>s in deve<span class=\"_ _2\"></span>lop<span class=\"_ _2\"></span>ing an<span class=\"_ _2\"></span>d maintaining the<span class=\"_ _0\"></span> appropriate co<span class=\"_ _0\"></span>untr<span class=\"_ _2\"></span>y risk meas<span class=\"_ _0\"></span>urement, monitoring and<span class=\"_ _0\"></span> mit<span class=\"_ _2\"></span>igation<span class=\"_ _0\"></span> tools. Risk Committees ove<span class=\"_ _2\"></span>rse<span class=\"_ _2\"></span>e the<span class=\"_ _2\"></span>se ri<span class=\"_ _2\"></span>sks a<span class=\"_ _2\"></span>nd th<span class=\"_ _2\"></span>e ass<span class=\"_ _2\"></span>ocia<span class=\"_ _2\"></span>ted po<span class=\"_ _2\"></span>lic<span class=\"_ _2\"></span>y fr<span class=\"_ _2\"></span>ame<span class=\"_ _2\"></span>work<span class=\"_ _2\"></span>s to pro<span class=\"_ _2\"></span>tec<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p aga<span class=\"_ _2\"></span>ins<span class=\"_ _2\"></span>t a pote<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>all<span class=\"_ _2\"></span>y ad<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>se im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t ari<span class=\"_ _2\"></span>sin<span class=\"_ _2\"></span>g from v<span class=\"_ _2\"></span>olat<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y in th<span class=\"_ _2\"></span>e sove<span class=\"_ _2\"></span>reign d<span class=\"_ _2\"></span>ebt m<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>The Group C<span class=\"_ _0\"></span>CPs\u2019 sover<span class=\"_ _0\"></span>eign exposures at<span class=\"_ _0\"></span> the end of<span class=\"_ _0\"></span> the f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting periods<span class=\"_ _0\"></span> were:<span class=\"_ _314\"> </span><table class=\"s w885 h28e\" id=\"_97733158-7a81-43d8-9522-dc68f9a09910\"><tr><td></td><td class=\"c n xdd1 y2406 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2406 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2407 w886 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls27 ws45\">Country/organisa<span class=\"_ _0\"></span>tion<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf9 y2407 w86e h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3bn<span class=\"_ _314\"> </span></div></td><td class=\"c n xdfa y2407 w86f h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls77 wsa0\">\u00a3<span class=\"_ _2\"></span>bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f7 w887 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">France<span class=\"_ _314\"> </span></div></td><td class=\"c n xdfb y23f7 w38f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">20<span class=\"_ _314\"> </span></div></td><td class=\"c n xdfc y23f7 w14a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">20<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f8 w28e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">US<span class=\"_ _314\"> </span></div></td><td class=\"c n xdfd y23f8 wf4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls70 ws76\">15<span class=\"_ _314\"> </span></div></td><td class=\"c n xdfe y23f8 wf9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e3 w8f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">UK<span class=\"_ _314\"> </span></div></td><td class=\"c n xdff y22e3 w102 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">10<span class=\"_ _314\"> </span></div></td><td class=\"c n xe00 y22e3 w3bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">10<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f9 w888 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">European Union<span class=\"_ _0\"></span> (supranational)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe01 y23f9 w55 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xe02 y23f9 w38b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w303 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td class=\"c n xe03 y2069 w43a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xe04 h193 y240b ff76 fs129 fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></td></tr></table>Liquidity,<span class=\"_ _0\"></span> settlement and custodial risk<span class=\"_ _314\"> </span>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>The Group\u2019<span class=\"_ _0\"></span>s liquidity risk relat<span class=\"_ _0\"></span>es to its ability to meet<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> shor<span class=\"_ _2\"></span>t-<span class=\"_ _0\"></span> and long-term payment obligations as<span class=\"_ _0\"></span> they fall due.<span class=\"_ _314\"> </span>Additionally,<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s CCPs, and certain ot<span class=\"_ _2\"></span>her G<span class=\"_ _2\"></span>roup e<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es, m<span class=\"_ _2\"></span>ust m<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>tain a l<span class=\"_ _2\"></span>evel<span class=\"_ _2\"></span> of liquidity (consistent with regula<span class=\"_ _0\"></span>tor<span class=\"_ _2\"></span>y requirements) t<span class=\"_ _0\"></span>o ensure the<span class=\"_ _0\"></span> smooth operation of t<span class=\"_ _2\"></span>heir re<span class=\"_ _2\"></span>spe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ces an<span class=\"_ _2\"></span>d to be ab<span class=\"_ _2\"></span>le to con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>ue to op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>te in t<span class=\"_ _2\"></span>he even<span class=\"_ _2\"></span>t of a sig<span class=\"_ _2\"></span>nif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant<span class=\"_ _2\"></span> stress event.<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s settlement and custodial risks rel<span class=\"_ _2\"></span>ate to th<span class=\"_ _2\"></span>e pote<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>ial for a p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>tn<span class=\"_ _2\"></span>er f<span class=\"_ _2\"></span>irm to<span class=\"_ _2\"></span> def<span class=\"_ _2\"></span>aul<span class=\"_ _2\"></span>t on it<span class=\"_ _2\"></span>s ob<span class=\"_ _2\"></span>lig<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons in r<span class=\"_ _2\"></span>espe<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>f cus<span class=\"_ _2\"></span>tod<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, settlement<span class=\"_ _2\"></span>, pa<span class=\"_ _0\"></span>yment or other administration ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es, or t<span class=\"_ _2\"></span>hat n<span class=\"_ _2\"></span>o ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is ta<span class=\"_ _2\"></span>ken by t<span class=\"_ _2\"></span>he Group to<span class=\"_ _0\"></span> mitigate these risks. This also inc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>es th<span class=\"_ _2\"></span>e ris<span class=\"_ _2\"></span>k tha<span class=\"_ _2\"></span>t clie<span class=\"_ _2\"></span>nt as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are im<span class=\"_ _2\"></span>mobi<span class=\"_ _2\"></span>lis<span class=\"_ _2\"></span>ed as a re<span class=\"_ _2\"></span>sult o<span class=\"_ _2\"></span>f a thi<span class=\"_ _2\"></span>rd<span class=\"_ _2\"></span>-pa<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>ty<span class=\"_ _2\"></span> bankruptcy.<span class=\"_ _314\"> </span>Group<span class=\"_ _314\"> </span>The Group ma<span class=\"_ _0\"></span>intains suf<span class=\"_ _2\"></span>ficient liquid resour<span class=\"_ _0\"></span>ces to<span class=\"_ _0\"></span> meet its f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> obligations as they fall<span class=\"_ _0\"></span> due, and t<span class=\"_ _0\"></span>o invest in<span class=\"_ _0\"></span> capital expenditure, pay<span class=\"_ _0\"></span> dividends, meet its pension commitments and appr<span class=\"_ _0\"></span>opriately support or fund acquisitions or<span class=\"_ _0\"></span> repay borr<span class=\"_ _0\"></span>owings. Subject to regul<span class=\"_ _0\"></span>ator<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>onst<span class=\"_ _2\"></span>raints impacting certain entities<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> funds can (generally) be lent acr<span class=\"_ _0\"></span>oss the Group and<span class=\"_ _0\"></span> cash earnings remitted through regular<span class=\"_ _0\"></span> div<span class=\"_ _2\"></span>idend<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s by subs<span class=\"_ _0\"></span>idiar<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>ompanies. This is<span class=\"_ _0\"></span> an import<span class=\"_ _2\"></span>ant<span class=\"_ _0\"></span> component of<span class=\"_ _0\"></span> the Group T<span class=\"_ _3\"></span>reasur<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> cash management policy and approach.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p is pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>ble, h<span class=\"_ _2\"></span>as st<span class=\"_ _2\"></span>ron<span class=\"_ _2\"></span>g free c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>w and g<span class=\"_ _2\"></span>ener<span class=\"_ _2\"></span>ates a<span class=\"_ _2\"></span>nnui<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y-<span class=\"_ _2\"></span>like re<span class=\"_ _2\"></span>venu<span class=\"_ _2\"></span>e whic<span class=\"_ _2\"></span>h is no<span class=\"_ _2\"></span>t significant<span class=\"_ _2\"></span>ly i<span class=\"_ _0\"></span>mpac<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> by seasonal<span class=\"_ _0\"></span> variations. Management monitors f<span class=\"_ _0\"></span>orecast<span class=\"_ _2\"></span>s o<span class=\"_ _0\"></span>f the Group\u2019<span class=\"_ _0\"></span>s cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>low<span class=\"_ _0\"></span> and overlays se<span class=\"_ _0\"></span>nsit<span class=\"_ _2\"></span>ivities to<span class=\"_ _0\"></span> these forecasts to r<span class=\"_ _0\"></span>ef<span class=\"_ _2\"></span>lect assumptions about<span class=\"_ _0\"></span> more challenging<span class=\"_ _0\"></span> market<span class=\"_ _0\"></span> conditions or stress events. The Group will<span class=\"_ _0\"></span> take the appropriate<span class=\"_ _0\"></span> act<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> to satisf<span class=\"_ _2\"></span>y working capital requir<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> when committ<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> to large<span class=\"_ _0\"></span> scale acquisitions, including<span class=\"_ _0\"></span> making sure<span class=\"_ _0\"></span> there is<span class=\"_ _0\"></span> comfor<span class=\"_ _2\"></span>table<span class=\"_ _0\"></span> liquidit<span class=\"_ _2\"></span>y headr<span class=\"_ _0\"></span>oom pro<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>ted o<span class=\"_ _2\"></span>ver a rea<span class=\"_ _2\"></span>son<span class=\"_ _2\"></span>able t<span class=\"_ _2\"></span>ime f<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>me.<span class=\"_ _314\"> </span>Non-<span class=\"_ _2\"></span>CCP entities<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p T<span class=\"_ _0\"></span>reas<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>y Pol<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>y requ<span class=\"_ _2\"></span>ires t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup to ma<span class=\"_ _2\"></span>int<span class=\"_ _2\"></span>ain a<span class=\"_ _2\"></span>dequ<span class=\"_ _2\"></span>ate cre<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>t faci<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies p<span class=\"_ _2\"></span>rov<span class=\"_ _2\"></span>ided b<span class=\"_ _2\"></span>y a div<span class=\"_ _2\"></span>ers<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied le<span class=\"_ _2\"></span>ndin<span class=\"_ _2\"></span>g grou<span class=\"_ _2\"></span>p to cove<span class=\"_ _2\"></span>r it<span class=\"_ _2\"></span>s exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted fu<span class=\"_ _2\"></span>ndi<span class=\"_ _2\"></span>ng req<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s an<span class=\"_ _2\"></span>d ens<span class=\"_ _2\"></span>ure a min<span class=\"_ _2\"></span>imu<span class=\"_ _2\"></span>m level o<span class=\"_ _2\"></span>f head<span class=\"_ _2\"></span>roo<span class=\"_ _2\"></span>m for at least the next 2<span class=\"_ _0\"></span>4 months. The financial strength of the Group<span class=\"_ _0\"></span>\u2019s lenders is<span class=\"_ _0\"></span> monitored regularly<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Fo<span class=\"_ _2\"></span>r ful<span class=\"_ _2\"></span>l det<span class=\"_ _2\"></span>ails o<span class=\"_ _2\"></span>f the G<span class=\"_ _2\"></span>roup\u2019s b<span class=\"_ _2\"></span>orro<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>gs an<span class=\"_ _2\"></span>d faci<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies<span class=\"_ _2\"></span>, see n<span class=\"_ _2\"></span>ote<span class=\"_ gs5a0\"> </span>1<span class=\"_ _2\"></span>6.1.<span class=\"_ _314\"> </span>CCPs<span class=\"_ _314\"> </span>In o<span class=\"_ _2\"></span>rder t<span class=\"_ _2\"></span>o meet t<span class=\"_ _2\"></span>he ca<span class=\"_ _2\"></span>sh req<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts of t<span class=\"_ _2\"></span>he cl<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>nd set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>leme<span class=\"_ _2\"></span>nt c<span class=\"_ _2\"></span>ycle<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup\u2019s CC<span class=\"_ _2\"></span>Ps m<span class=\"_ _2\"></span>aint<span class=\"_ _2\"></span>ain suf<span class=\"_ _2\"></span>ficient cash and<span class=\"_ _0\"></span> cash equivalent<span class=\"_ _2\"></span>s a<span class=\"_ _0\"></span>nd, in certain jurisdic<span class=\"_ _2\"></span>tions, hav<span class=\"_ _0\"></span>e access t<span class=\"_ _0\"></span>o central bank r<span class=\"_ _0\"></span>ef<span class=\"_ _2\"></span>inancing<span class=\"_ _0\"></span> or commercial<span class=\"_ _0\"></span> bank credit lines. R<span class=\"_ _0\"></span>egulations require C<span class=\"_ _0\"></span>CPs to ensure<span class=\"_ _0\"></span> that appropriate le<span class=\"_ _0\"></span>vels of back<span class=\"_ _0\"></span>-up liquidit<span class=\"_ _2\"></span>y are in<span class=\"_ _0\"></span> place to<span class=\"_ _0\"></span> underpin the dynamics of a lar<span class=\"_ _0\"></span>gely secured cash investment requir<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> ensuring that the maximum potential<span class=\"_ _0\"></span> out<span class=\"_ _2\"></span>flow under e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>treme<span class=\"_ _0\"></span> market c<span class=\"_ _0\"></span>ondit<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> is cover<span class=\"_ _0\"></span>ed (see c<span class=\"_ _0\"></span>redit and conc<span class=\"_ _0\"></span>entrat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> risk se<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>bove)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In t<span class=\"_ _2\"></span>he eve<span class=\"_ _2\"></span>nt of a m<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r defa<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>, G<span class=\"_ _2\"></span>roup CC<span class=\"_ _2\"></span>Ps c<span class=\"_ _2\"></span>an liq<span class=\"_ _2\"></span>uid<span class=\"_ _2\"></span>ate th<span class=\"_ _2\"></span>e defa<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>ing m<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er\u2019s p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>foli<span class=\"_ _2\"></span>o to cover b<span class=\"_ _2\"></span>ot<span class=\"_ _2\"></span>h losses associated<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th the<span class=\"_ _0\"></span> default and settlement of any other<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> obligations of the defaulting member<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>In addition, cert<span class=\"_ _2\"></span>ain<span class=\"_ _0\"></span> Group companies, including<span class=\"_ _0\"></span> the CCPs, maintain commerci<span class=\"_ _0\"></span>al bank facilities which support management of<span class=\"_ _0\"></span> intraday and overnight liquidity.<span class=\"_ _314\"> </span>Custodians are<span class=\"_ _0\"></span> subject to minimum<span class=\"_ _0\"></span> eligibility requirements, ongoing cr<span class=\"_ _0\"></span>edit assessments and robust contrac<span class=\"_ _2\"></span>tual<span class=\"_ _0\"></span> arrangement<span class=\"_ _2\"></span>s. They<span class=\"_ _0\"></span> are also r<span class=\"_ _0\"></span>equired to<span class=\"_ _0\"></span> have appropriate<span class=\"_ _0\"></span> contingenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> arrangemen<span class=\"_ _2\"></span>ts in<span class=\"_ _0\"></span> place.<span class=\"_ _314\"> </span>Financial liability maturity<span class=\"_ _314\"> </span>The table below<span class=\"_ _0\"></span> analyses the Group\u2019<span class=\"_ _0\"></span>s financial liabilities into r<span class=\"_ _0\"></span>elevant maturit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> groupings based on<span class=\"_ _0\"></span> the remaining<span class=\"_ _0\"></span> period from the balance<span class=\"_ _0\"></span> sheet date<span class=\"_ _0\"></span> to the contractual maturit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> date. The<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s disclosed<span class=\"_ _0\"></span> in the table re<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>lect the contractual undiscounted<span class=\"_ _0\"></span> cash flows. <table class=\"s w8a1 h291\" id=\"_bb148fbd-a705-4321-8155-57296068e962\"><tr><td></td><td class=\"t m0 xe33 h13 y2414 ff75 fs6 fc1 sc0 ls41 ws5e\">Less tha<span class=\"_ _0\"></span>n <span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe34 h13 y2414 ff75 fs6 fc1 sc0 ls27 ws43\">Between 1 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe35 h13 y2414 ff75 fs6 fc1 sc0 ls27 ws43\">Between 2 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe36 h13 y2414 ff75 fs6 fc1 sc0 ls94 wsc1\">Over<span class=\"_ _2\"></span> <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xe37 h13 y2415 ff75 fs6 fc1 sc0 ls26 ws3\">1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></td><td class=\"t m0 xe38 h13 y2415 ff75 fs6 fc1 sc0 ls26 ws3\">and 2 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 xe39 h13 y2415 ff75 fs6 fc1 sc0 ls26 ws3\">and 5 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xe3a y2416 w8a2 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3b y2416 w52c h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _1\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2417 w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3c y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3d y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3e y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3f y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe40 y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w8a3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Borrowings (<span class=\"_ _0\"></span>excluding<span class=\"_ _0\"></span> lease liabilities)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe41 y2066 w8a4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">3<span class=\"_ _2\"></span>,264<span class=\"_ _314\"> </span></div></td><td class=\"c n xe42 y2066 w359 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,622<span class=\"_ _314\"> </span></div></td><td class=\"c n xe43 y2066 w8a5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb0 wsdb\">3,7<span class=\"_ _2\"></span>10<span class=\"_ _314\"> </span></div></td><td class=\"c n xe44 y2066 wfd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsac wsd7\">3,816<span class=\"_ _314\"> </span></div></td><td class=\"c n xe45 y2066 w8a6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">12,412<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w666 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td class=\"c n xe46 y214c w45d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">1<span class=\"_ _2\"></span>47<span class=\"_ _314\"> </span></div></td><td class=\"c n xe47 y214c wb1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">121<span class=\"_ _314\"> </span></div></td><td class=\"c n xe48 y214c w157 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">196<span class=\"_ _314\"> </span></div></td><td class=\"c n xe49 y214c w571 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">260<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4a y214c w8a7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">7<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2075 w8a8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Current payables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4b y2075 w8a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">2,<span class=\"_ _2\"></span>230<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4c y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4d y2075 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4e y2075 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4f y2075 w8a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">2<span class=\"_ _2\"></span>,230<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w8aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing member liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xe50 y2068 w8ab h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsee ws55\">7<span class=\"_ _0\"></span>57<span class=\"_ _3\"></span>,444<span class=\"_ _314\"> </span></div></td><td class=\"c n xe51 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe52 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe53 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe54 y2068 w8ac h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsee ws55\">75<span class=\"_ _0\"></span>7<span class=\"_ _3\"></span>,444<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w2b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current payables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe55 y2069 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe56 y2069 w10a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">63<span class=\"_ _314\"> </span></div></td><td class=\"c n xe57 y2069 w8ad h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">319<span class=\"_ _314\"> </span></div></td><td class=\"c n xe58 y2069 w8ae h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">3<span class=\"_ _2\"></span>02<span class=\"_ _314\"> </span></div></td><td class=\"c n xe59 y2069 w8ae h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">684<span class=\"_ _314\"> </span></div></td></tr></table><table class=\"s w8af h292\" id=\"_b5a53577-b9f1-4170-9fb0-cfc2cc03c7ee\"><tr><td></td><td class=\"t m0 xe33 hb y2418 ff76 fs6 fc1 sc0 ls27 ws43\">Less than <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe5a hb y2418 ff76 fs6 fc1 sc0 lse0 ws10e\">Bet<span class=\"_ _2\"></span>ween 1 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe35 hb y2418 ff76 fs6 fc1 sc0 lse0 ws10e\">Bet<span class=\"_ _2\"></span>ween 2 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe36 hb y2418 ff76 fs6 fc1 sc0 ls4 ws3\">Ove<span class=\"_ _2\"></span>r <span class=\"_ _0\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 xe5b hb y2419 ff76 fs6 fc1 sc0 ls26 ws3\">1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5c hb y2419 ff76 fs6 fc1 sc0 ls26 ws3\">an<span class=\"_ _2\"></span>d 2 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5d hb y2419 ff76 fs6 fc1 sc0 ls26 ws3\">an<span class=\"_ _2\"></span>d 5 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xe3a y241a w8b0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xe5e y241a w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y241b w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe5f y241b w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe60 y241b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe61 y241b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe62 y241b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe63 y241b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w8a3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Borrowings (<span class=\"_ _0\"></span>excluding<span class=\"_ _0\"></span> lease liabilities)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe64 y214b w467 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsad wsdc\">1,66<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe65 y214b w8b1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">1,58<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe66 y214b w8b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">3<span class=\"_ _2\"></span>,42<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xe67 y214b w6eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _2\"></span>,932<span class=\"_ _314\"> </span></div></td><td class=\"c n xe68 y214b w8b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">10,6<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w666 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td class=\"c n xe46 y214c w523 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">158<span class=\"_ _314\"> </span></div></td><td class=\"c n xe69 y214c w52f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">113<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6a y214c w329 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">215<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6b y214c w3dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">213<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6c y214c w257 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">699<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w8a8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Current payables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6d y213e w8b4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>,845<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6e y213e w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6f y213e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe70 y213e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe71 y213e w8b4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">1,8<span class=\"_ _2\"></span>45<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w8aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing member liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xe72 y214f wf3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">692,6<span class=\"_ _2\"></span>40<span class=\"_ _314\"> </span></div></td><td class=\"c n xe73 y214f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe74 y214f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe75 y214f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe76 y214f w8b5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">692,6<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w2b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current payables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe55 y2069 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe77 y2069 w8b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">28<span class=\"_ _314\"> </span></div></td><td class=\"c n xe78 y2069 w8b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">335<span class=\"_ _314\"> </span></div></td><td class=\"c n xe79 y2069 w618 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">195<span class=\"_ _314\"> </span></div></td><td class=\"c n xe7a y2069 w8b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">558<span class=\"_ _314\"> </span></div></td></tr></table>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>The table below analyses the cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>lows of<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vative financial instrument<span class=\"_ _2\"></span>s. For inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t rate swaps and<span class=\"_ _0\"></span> cross-<span class=\"_ _2\"></span>currency interest rate<span class=\"_ _0\"></span> swaps<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> for which net<span class=\"_ _0\"></span> cash f<span class=\"_ _2\"></span>lows ar<span class=\"_ _0\"></span>e exchanged, these amounts are included net<span class=\"_ _0\"></span> in the numbers below.<span class=\"_ _0\"></span> When the amount<span class=\"_ _2\"></span>s pa<span class=\"_ _0\"></span>yable or receivable are<span class=\"_ _0\"></span> based on f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>atin<span class=\"_ _2\"></span>g inte<span class=\"_ _2\"></span>rest r<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>, fu<span class=\"_ _2\"></span>ture c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s have be<span class=\"_ _2\"></span>en ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated u<span class=\"_ _2\"></span>sing E<span class=\"_ _2\"></span>STR<span class=\"_ _2\"></span>, SON<span class=\"_ _2\"></span>IA o<span class=\"_ _2\"></span>r SOF<span class=\"_ _2\"></span>R, depending on the underlying currency of the instrument<span class=\"_ _2\"></span>, at<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _0\"></span> date.<span class=\"_ _314\"> </span><table class=\"s w8c4 h294\" id=\"_a11f81d7-6e1d-4c7d-8fee-95a55c0001ae\"><tr><td></td><td class=\"t m0 xe33 h13 y2420 ff75 fs6 fc1 sc0 ls41 ws5e\">Less tha<span class=\"_ _0\"></span>n <span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe5a h13 y2420 ff75 fs6 fc1 sc0 ls27 ws43\">Between 1 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe35 h13 y2420 ff75 fs6 fc1 sc0 ls27 ws43\">Between 2 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe7e h13 y2420 ff75 fs6 fc1 sc0 ls94 wsc1\">Over<span class=\"_ _2\"></span> <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xe5b h13 y2421 ff75 fs6 fc1 sc0 ls26 ws3\">1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5c h13 y2421 ff75 fs6 fc1 sc0 ls26 ws3\">and 2 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5d h13 y2421 ff75 fs6 fc1 sc0 ls26 ws3\">and 5 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xe3a y2351 w8a2 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3b y2351 w52c h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _1\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2422 w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xe91 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe92 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe93 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe94 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe95 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w8ba h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Gross inflow<span class=\"_ _314\"> </span></div></td><td class=\"c n xe96 y2068 w321 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">3,60<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xe97 y2068 w8c5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">67<span class=\"_ _314\"> </span></div></td><td class=\"c n xe98 y2068 w8c6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">9<span class=\"_ _2\"></span>61<span class=\"_ _314\"> </span></div></td><td class=\"c n xe99 y2068 w87d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls88 wsb4\">91<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9a y2068 w8c7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4,7<span class=\"_ _2\"></span>26<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w8be h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Gross outf<span class=\"_ _2\"></span>low<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9b y2069 w8c8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(3,543)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9c y2069 w8c9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(<span class=\"_ _2\"></span>66)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9d y2069 w8ca h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">(894)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9e y2069 w2d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">(69)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9f y2069 w8cb h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>,57<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td></tr></table><table class=\"s w8b9 h293\" id=\"_9b770b09-760e-48d3-b8fb-59d1f5720b5d\"><tr><td></td><td class=\"t m0 xe7b hb y241c ff76 fs6 fc1 sc0 ls27 ws43\">Less than <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe7c hb y241c ff76 fs6 fc1 sc0 lse0 ws10e\">Bet<span class=\"_ _2\"></span>ween 1 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe7d hb y241c ff76 fs6 fc1 sc0 lse0 ws10e\">Bet<span class=\"_ _2\"></span>ween 2 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe7e hb y241c ff76 fs6 fc1 sc0 ls4 ws3\">Ove<span class=\"_ _2\"></span>r <span class=\"_ _0\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 xe5b hb y241d ff76 fs6 fc1 sc0 ls26 ws3\">1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5c hb y241d ff76 fs6 fc1 sc0 ls26 ws3\">an<span class=\"_ _2\"></span>d 2 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 xe7f hb y241d ff76 fs6 fc1 sc0 ls26 ws3\">an<span class=\"_ _2\"></span>d 5 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xe80 y241e w8b0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xe81 y241e w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y241f w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe82 y241f w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe83 y241f w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe84 y241f w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe85 y241f w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe86 y241f w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w8ba h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Gross inflow<span class=\"_ _314\"> </span></div></td><td class=\"c n xe87 y214f w8bb h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">3<span class=\"_ _2\"></span>,25<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xe88 y214f w8bc h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls73 ws9c\">6<span class=\"_ _2\"></span>42<span class=\"_ _314\"> </span></div></td><td class=\"c n xe89 y214f w530 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8a y214f w257 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6f ws99\">669<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8b y214f w8bd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsba wsea\">4,838<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w8be h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Gross outf<span class=\"_ _2\"></span>low<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8c y2069 w8bf h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">(<span class=\"_ _2\"></span>3<span class=\"_ _2\"></span>,25<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8d y2069 w8c0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws9f\">(671)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8e y2069 w8c1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls67 ws61\">(355)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8f y2069 w8c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">(689)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe90 y2069 w8c3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>,96<span class=\"_ _2\"></span>8)<span class=\"_ _314\"> </span></div></td></tr></table>Market risk<span class=\"_ _0\"></span> \u2013 foreign ex<span class=\"_ _0\"></span>change risk<span class=\"_ _314\"> </span>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>The Group operates<span class=\"_ _0\"></span> globally with primar<span class=\"_ _2\"></span>y cen<span class=\"_ _2\"></span>tre<span class=\"_ _2\"></span>s in th<span class=\"_ _2\"></span>e UK<span class=\"_ _2\"></span>, Euro<span class=\"_ _2\"></span>pe and N<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>h Ame<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>a. It also has<span class=\"_ _0\"></span> growing and<span class=\"_ _0\"></span> st<span class=\"_ _2\"></span>rat<span class=\"_ _0\"></span>egically impor<span class=\"_ _2\"></span>tant businesses in Asia. The<span class=\"_ _0\"></span> Group\u2019<span class=\"_ _0\"></span>s principal currencies of<span class=\"_ _0\"></span> operation are sterling, US<span class=\"_ _0\"></span> dollars<span class=\"_ _2\"></span>, and the eur<span class=\"_ _0\"></span>o.<span class=\"_ _314\"> </span>The Group is<span class=\"_ _0\"></span> exposed to<span class=\"_ _0\"></span> tr<span class=\"_ _2\"></span>ansactional foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> risk and translational<span class=\"_ _0\"></span> risk. T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>al ris<span class=\"_ _2\"></span>k ari<span class=\"_ _2\"></span>ses w<span class=\"_ _2\"></span>hen we b<span class=\"_ _2\"></span>uy or s<span class=\"_ _2\"></span>ell goods or services in a<span class=\"_ _0\"></span> currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> other than an entit<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tional curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. W<span class=\"_ _0\"></span>e may be exposed to<span class=\"_ _0\"></span> movements in that currency<span class=\"_ _0\"></span>. T<span class=\"_ _0\"></span>ranslational<span class=\"_ _0\"></span> risk arises from<span class=\"_ _0\"></span> the translation of balanc<span class=\"_ _0\"></span>es recorded in<span class=\"_ _0\"></span> an entit<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tional currency into the<span class=\"_ _0\"></span> Group\u2019s<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting currency for t<span class=\"_ _2\"></span>he pu<span class=\"_ _2\"></span>rpo<span class=\"_ _2\"></span>se of s<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>utor<span class=\"_ _2\"></span>y r<span class=\"_ _2\"></span>epor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>ransactional fore<span class=\"_ _0\"></span>ign exch<span class=\"_ _0\"></span>ange risk may<span class=\"_ _0\"></span> pre<span class=\"_ _2\"></span>sen<span class=\"_ _2\"></span>t it<span class=\"_ _2\"></span>sel<span class=\"_ _2\"></span>f in th<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment o<span class=\"_ _2\"></span>f int<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>roup transac<span class=\"_ _2\"></span>tions or<span class=\"_ _0\"></span> when interest obligations, which are<span class=\"_ _0\"></span> in a different currency<span class=\"_ _0\"></span>, are<span class=\"_ _0\"></span> due.<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>ransactional fore<span class=\"_ _0\"></span>ign exch<span class=\"_ _0\"></span>ange risk may<span class=\"_ _0\"></span> al<span class=\"_ _2\"></span>so ari<span class=\"_ _2\"></span>se wh<span class=\"_ _2\"></span>en in<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g in, or d<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ing f<span class=\"_ _2\"></span>rom,<span class=\"_ _2\"></span> operations denominated in<span class=\"_ _0\"></span> currencies other than sterling.<span class=\"_ _314\"> </span>In addition, the Group<span class=\"_ _0\"></span> has some c<span class=\"_ _0\"></span>ontrac<span class=\"_ _2\"></span>ts/<span class=\"_ _314\"> </span>ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low pr<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>iles w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h a forei<span class=\"_ _2\"></span>gn exch<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>e component that c<span class=\"_ _0\"></span>ould trigger embedded derivative recognition and, as<span class=\"_ _0\"></span> such, fair value accounting<span class=\"_ _0\"></span> treatment<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>ranslational risk<span class=\"_ _314\"> </span>The Group man<span class=\"_ _0\"></span>ages it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> translat<span class=\"_ _2\"></span>ional<span class=\"_ _0\"></span> risk, where possible, by<span class=\"_ _0\"></span> matching the curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> of its debt to<span class=\"_ _0\"></span> the currency of i<span class=\"_ _2\"></span>ts ea<span class=\"_ _2\"></span>rni<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>, to make s<span class=\"_ _2\"></span>ure cer<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ain key f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>anci<span class=\"_ _2\"></span>al met<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>s are p<span class=\"_ _2\"></span>rote<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d fro<span class=\"_ _2\"></span>m mater<span class=\"_ _2\"></span>ial fo<span class=\"_ _2\"></span>reig<span class=\"_ _2\"></span>n exchan<span class=\"_ _2\"></span>ge ra<span class=\"_ _2\"></span>te volatilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. The<span class=\"_ _0\"></span> Group also seeks to<span class=\"_ _0\"></span> balance the curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y o<span class=\"_ _0\"></span>f its asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th its liabilities. In order<span class=\"_ _0\"></span> to mitigate the impact of unfavourable<span class=\"_ _0\"></span> currency exchange rat<span class=\"_ _0\"></span>e movements on earnings and<span class=\"_ _0\"></span> net assets, non-<span class=\"_ _2\"></span>sterling cash earnings ar<span class=\"_ _0\"></span>e centralised and applied t<span class=\"_ _0\"></span>o debt and<span class=\"_ _0\"></span> interest payments in the same curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Where required, curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> of debt is<span class=\"_ _0\"></span> re-<span class=\"_ _2\"></span>balanced usi<span class=\"_ _0\"></span>ng cross-<span class=\"_ _2\"></span>currency int<span class=\"_ _0\"></span>erest rate swaps to<span class=\"_ _0\"></span> bet<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>er match the currency of debt<span class=\"_ _0\"></span> to the ov<span class=\"_ _0\"></span>erall currency of earnings.<span class=\"_ _314\"> </span>A mat<span class=\"_ _2\"></span>eria<span class=\"_ _2\"></span>l prop<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s de<span class=\"_ _2\"></span>bt is he<span class=\"_ _2\"></span>ld in o<span class=\"_ _2\"></span>r swa<span class=\"_ _2\"></span>ppe<span class=\"_ _2\"></span>d into eu<span class=\"_ _2\"></span>ros an<span class=\"_ _2\"></span>d US do<span class=\"_ _2\"></span>llar<span class=\"_ _2\"></span>s (se<span class=\"_ _2\"></span>e the t<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e show<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span> th<span class=\"_ _2\"></span>e cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y of bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s in no<span class=\"_ _2\"></span>te<span class=\"_ gs5a0\"> </span>16<span class=\"_ _2\"></span>.1). A p<span class=\"_ _2\"></span>ropo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of the e<span class=\"_ _2\"></span>uro de<span class=\"_ _2\"></span>nom<span class=\"_ _2\"></span>inate<span class=\"_ _2\"></span>d deb<span class=\"_ _2\"></span>t and cr<span class=\"_ _2\"></span>oss<span class=\"_ _2\"></span>-c<span class=\"_ _2\"></span>urre<span class=\"_ _2\"></span>nc<span class=\"_ _2\"></span>y in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps pro<span class=\"_ _2\"></span>vid<span class=\"_ _2\"></span>e a hed<span class=\"_ _2\"></span>ge aga<span class=\"_ _2\"></span>ins<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s net in<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt in eu<span class=\"_ _2\"></span>ro and U<span class=\"_ _2\"></span>S dol<span class=\"_ _2\"></span>lar op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns.<span class=\"_ _314\"> </span>In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2025, th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up is<span class=\"_ _2\"></span>sued a C<span class=\"_ _2\"></span>HF<span class=\"_ _2\"></span>150 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd an<span class=\"_ _2\"></span>d JPY40 bil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n of f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nds (s<span class=\"_ _2\"></span>ee not<span class=\"_ _2\"></span>e 16)<span class=\"_ _2\"></span>. Thes<span class=\"_ _2\"></span>e bon<span class=\"_ _2\"></span>ds hav<span class=\"_ _2\"></span>e bee<span class=\"_ _2\"></span>n desi<span class=\"_ _2\"></span>gnat<span class=\"_ _2\"></span>ed as he<span class=\"_ _2\"></span>dgi<span class=\"_ _2\"></span>ng in<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s in t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s net i<span class=\"_ _2\"></span>nves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent in S<span class=\"_ _2\"></span>wis<span class=\"_ _2\"></span>s Franc and Japanese<span class=\"_ _0\"></span> Y<span class=\"_ _0\"></span>en r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting subsidiaries.<span class=\"_ _314\"> </span>At 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 2025, th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s desi<span class=\"_ _2\"></span>gna<span class=\"_ _2\"></span>ted he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>s of it<span class=\"_ _2\"></span>s net i<span class=\"_ _2\"></span>nves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s were e<span class=\"_ _2\"></span>ff<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve.<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>ransactional risk<span class=\"_ _314\"> </span>While transac<span class=\"_ _2\"></span>tional<span class=\"_ _0\"></span> foreign ex<span class=\"_ _0\"></span>change exposure<span class=\"_ _0\"></span> is limited, the Group<span class=\"_ _0\"></span> mit<span class=\"_ _2\"></span>igat<span class=\"_ _0\"></span>es this by e<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>her<span class=\"_ _0\"></span> hedging material transactions wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> appropriate derivative instrument<span class=\"_ _2\"></span>s or<span class=\"_ _0\"></span> by settling currency payables or rec<span class=\"_ _0\"></span>eivables within a short timeframe. The Group<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>reasury Policy requires net<span class=\"_ _0\"></span> balance sheet<span class=\"_ _0\"></span> positions over \u00a32 million or e<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>val<span class=\"_ _2\"></span>ent to b<span class=\"_ _2\"></span>e hed<span class=\"_ _2\"></span>ged<span class=\"_ _2\"></span>. The r<span class=\"_ _2\"></span>isk is a<span class=\"_ _2\"></span>lso m<span class=\"_ _2\"></span>inim<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d by the p<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>odi<span class=\"_ _2\"></span>c exchan<span class=\"_ _2\"></span>ge of c<span class=\"_ _2\"></span>ash in<span class=\"_ _2\"></span>to eac<span class=\"_ _2\"></span>h Gro<span class=\"_ _2\"></span>up entit<span class=\"_ _2\"></span>y\u2019s functional currency.<span class=\"_ _0\"></span> Where appropriate,<span class=\"_ _0\"></span> hedge accounting f<span class=\"_ _0\"></span>or debt and derivatives is<span class=\"_ _0\"></span> considered in o<span class=\"_ _2\"></span>rder to m<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>igate m<span class=\"_ _2\"></span>ater<span class=\"_ _2\"></span>ial l<span class=\"_ _2\"></span>evels o<span class=\"_ _2\"></span>f inco<span class=\"_ _2\"></span>me s<span class=\"_ _2\"></span>tate<span class=\"_ _2\"></span>ment v<span class=\"_ _2\"></span>olat<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Sensitivit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span>In a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n to pro<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng an<span class=\"_ _2\"></span>d anal<span class=\"_ _2\"></span>ysi<span class=\"_ _2\"></span>ng it<span class=\"_ _2\"></span>s ea<span class=\"_ _2\"></span>rni<span class=\"_ _2\"></span>ngs an<span class=\"_ _2\"></span>d deb<span class=\"_ _2\"></span>t prof<span class=\"_ _2\"></span>il<span class=\"_ _2\"></span>e by cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y, the G<span class=\"_ _2\"></span>roup r<span class=\"_ _2\"></span>evie<span class=\"_ _2\"></span>ws sensitiv<span class=\"_ _2\"></span>ities to<span class=\"_ _0\"></span> movements in ex<span class=\"_ _0\"></span>change rates. The<span class=\"_ _0\"></span> Group has consider<span class=\"_ _0\"></span>ed movements in the eur<span class=\"_ _0\"></span>o and the US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>r over 2025 an<span class=\"_ _2\"></span>d 202<span class=\"_ _0\"></span>4 an<span class=\"_ _2\"></span>d, ba<span class=\"_ _2\"></span>sed on a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual m<span class=\"_ _2\"></span>arket o<span class=\"_ _2\"></span>bser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons b<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>ween i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s pri<span class=\"_ _2\"></span>ncip<span class=\"_ _2\"></span>al cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y pa<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>, has co<span class=\"_ _2\"></span>nclu<span class=\"_ _2\"></span>ded t<span class=\"_ _2\"></span>hat a 1<span class=\"_ _2\"></span>0% m<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ent in r<span class=\"_ _2\"></span>ates i<span class=\"_ _2\"></span>s a reas<span class=\"_ _2\"></span>onab<span class=\"_ _2\"></span>le le<span class=\"_ _2\"></span>vel to il<span class=\"_ _2\"></span>lus<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ate t<span class=\"_ _2\"></span>he ris<span class=\"_ _2\"></span>k to th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p. Th<span class=\"_ _2\"></span>e impa<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>n prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t af<span class=\"_ _2\"></span>ter ta<span class=\"_ _2\"></span>x and e<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is set o<span class=\"_ _2\"></span>ut in t<span class=\"_ _2\"></span>he t<span class=\"_ _2\"></span>able b<span class=\"_ _2\"></span>elo<span class=\"_ _2\"></span>w:<span class=\"_ _314\"> </span><table class=\"s w8cc h295\" id=\"_a552a96e-da24-454b-b27d-c90b799a21d1\"><tr><td></td><td></td><td class=\"c n xea0 y2423 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xea1 y2423 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xea2 h13 y2424 ff75 fs6 fc1 sc0 lse0 ws110\">Profit </td><td></td><td class=\"t m0 xe36 hb y2424 ff76 fs6 fc1 sc0 ls4 ws3\">Prof<span class=\"_ _2\"></span>it </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xe5a h13 y2425 ff75 fs6 fc1 sc0 ls77 wsa3\">after tax<span class=\"_ _314\"> </span></td><td class=\"t m0 xea3 h13 y2425 ff75 fs6 fc1 sc0 lse5 ws125\">Equity<span class=\"_ _314\"> </span></td><td class=\"t m0 xea4 hb y2425 ff76 fs6 fc1 sc0 ls26 ws3\">af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r tax<span class=\"_ _314\"> </span></td><td class=\"t m0 xea5 hb y2425 ff76 fs6 fc1 sc0 ls41 ws56\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 xea6 h13 y2426 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 xea7 h13 y2426 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 xea8 hb y2426 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 xea9 hb y2426 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y22e2 w70a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">Euro<span class=\"_ _314\"> </span></div></td><td class=\"c n xeaa y22e2 w8cd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Sterling weak<span class=\"_ _0\"></span>ens<span class=\"_ _314\"> </span></div></td><td class=\"c n xeab y22e2 w33a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xeac y22e2 w8ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">(57<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xead y22e2 w33d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wsda\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xeae y22e2 w8cf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">(66)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xeaf y22e3 w8d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Sterling strengthens<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb0 y22e3 w419 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(16)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb1 y22e3 w95 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">53<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb2 y22e3 w8d1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(16)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb3 y22e3 w8d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">60<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w711 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">US dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb4 y22e4 w8d3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Sterling w<span class=\"_ _0\"></span>eakens<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb5 y22e4 w8d4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">26<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb6 y22e4 w8d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(18<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb7 y22e4 w8d6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wsda\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb8 y22e4 w8d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">(19)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xeaf y2069 w8d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Sterling strengthens<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb9 y2069 w192 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">(23)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeba y2069 w639 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">16<span class=\"_ _314\"> </span></div></td><td class=\"c n xebb y2427 w8d1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(16)<span class=\"_ _314\"> </span></div></td><td class=\"c n xebc y2427 w7c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td></tr></table>Th<span class=\"_ _2\"></span>e sens<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ivi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y of pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t af<span class=\"_ _2\"></span>ter t<span class=\"_ _2\"></span>ax ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s fo<span class=\"_ _2\"></span>reign e<span class=\"_ _2\"></span>xchan<span class=\"_ _2\"></span>ge gai<span class=\"_ _2\"></span>ns or l<span class=\"_ _2\"></span>oss<span class=\"_ _2\"></span>es on t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>slat<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f fi<span class=\"_ _2\"></span>nanc<span class=\"_ _2\"></span>ial as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s and financial liabilities, including cash<span class=\"_ _0\"></span> and borrowings but e<span class=\"_ _0\"></span>xcluding hedged balances.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e sens<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ivi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y of eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y ma<span class=\"_ _2\"></span>inl<span class=\"_ _2\"></span>y ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s the f<span class=\"_ _2\"></span>oreig<span class=\"_ _2\"></span>n excha<span class=\"_ _2\"></span>nge ga<span class=\"_ _2\"></span>ins o<span class=\"_ _2\"></span>r los<span class=\"_ _2\"></span>ses on t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>nsla<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of eur<span class=\"_ _2\"></span>o borrowings and derivative financial instrument<span class=\"_ _2\"></span>s that<span class=\"_ _0\"></span> have been design<span class=\"_ _0\"></span>ated as hedges o<span class=\"_ _0\"></span>f a net<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ment in f<span class=\"_ _0\"></span>oreign operations.<span class=\"_ _314\"> </span>Mar<span class=\"_ _2\"></span>ket risk \u2013 i<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate ri<span class=\"_ _2\"></span>sk<span class=\"_ _314\"> </span>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>The Group\u2019<span class=\"_ _0\"></span>s inter<span class=\"_ _0\"></span>est rate risk arises<span class=\"_ _0\"></span> from the im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t of cha<span class=\"_ _2\"></span>nge<span class=\"_ _2\"></span>s in in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>es on c<span class=\"_ _2\"></span>ash held and in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ments in financial assets, an<span class=\"_ _2\"></span>d on bor<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>ings h<span class=\"_ _2\"></span>eld a<span class=\"_ _2\"></span>t fl<span class=\"_ _2\"></span>oat<span class=\"_ _2\"></span>ing r<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The Group ma<span class=\"_ _0\"></span>y also face<span class=\"_ _0\"></span> future interest rate<span class=\"_ _0\"></span> exposure c<span class=\"_ _0\"></span>onnec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> to M&amp;A trans<span class=\"_ _2\"></span>actions where significant debt financing is in<span class=\"_ _0\"></span>volved.<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s CCPs h<span class=\"_ _0\"></span>ave member liabilities, and separately achieve<span class=\"_ _0\"></span> returns which support the payment of<span class=\"_ _0\"></span> these liabilities. A CCP\u2019s interest rate<span class=\"_ _0\"></span> risk can incre<span class=\"_ _0\"></span>ase if the ref<span class=\"_ _0\"></span>erence rates used t<span class=\"_ _0\"></span>o calculate liabilities increase<span class=\"_ _0\"></span> while the ref<span class=\"_ _0\"></span>erence rates<span class=\"_ _0\"></span> that underpin investment ret<span class=\"_ _2\"></span>urns d<span class=\"_ _2\"></span>ecre<span class=\"_ _2\"></span>ase (o<span class=\"_ _2\"></span>r do not i<span class=\"_ _2\"></span>ncre<span class=\"_ _2\"></span>ase by t<span class=\"_ _2\"></span>he same amount).<span class=\"_ _314\"> </span>Group companies<span class=\"_ _0\"></span> that of<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>er guaranteed sett<span class=\"_ _2\"></span>lement<span class=\"_ _0\"></span> of traded securities can also be ex<span class=\"_ _2\"></span>pos<span class=\"_ _2\"></span>ed to la<span class=\"_ _2\"></span>tent i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st r<span class=\"_ _2\"></span>ate ri<span class=\"_ _2\"></span>sk (and<span class=\"_ _2\"></span> mar<span class=\"_ _2\"></span>ket ri<span class=\"_ _2\"></span>sk mor<span class=\"_ _2\"></span>e gene<span class=\"_ _2\"></span>ral<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>) in th<span class=\"_ _2\"></span>e even<span class=\"_ _2\"></span>t of a count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> default<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s inter<span class=\"_ _2\"></span>est r<span class=\"_ _2\"></span>ate ma<span class=\"_ _2\"></span>nag<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>t pol<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>y focu<span class=\"_ _2\"></span>ses on p<span class=\"_ _2\"></span>rote<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s cre<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>ing an<span class=\"_ _2\"></span>d lim<span class=\"_ _2\"></span>iti<span class=\"_ _2\"></span>ng t<span class=\"_ _2\"></span>he im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t of in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t ra<span class=\"_ _2\"></span>te chan<span class=\"_ _2\"></span>ges o<span class=\"_ _2\"></span>n Gro<span class=\"_ _2\"></span>up ear<span class=\"_ _2\"></span>nin<span class=\"_ _2\"></span>gs. T<span class=\"_ _0\"></span>o su<span class=\"_ _2\"></span>ppo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>t thi<span class=\"_ _2\"></span>s obje<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>e, th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p mon<span class=\"_ _2\"></span>itor<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t of ch<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>es in key in<span class=\"_ _2\"></span>tere<span class=\"_ _2\"></span>st ra<span class=\"_ _2\"></span>tes on t<span class=\"_ _2\"></span>he an<span class=\"_ _2\"></span>nua<span class=\"_ _2\"></span>lise<span class=\"_ _2\"></span>d net f<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>nce co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s and m<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>s a max<span class=\"_ _2\"></span>imu<span class=\"_ _2\"></span>m debt f<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>oat<span class=\"_ _2\"></span>ing rate c<span class=\"_ _0\"></span>omponent of 50%. This appr<span class=\"_ _0\"></span>oach reflect<span class=\"_ _2\"></span>s: <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">a fo<span class=\"_ _2\"></span>cus o<span class=\"_ _2\"></span>n the G<span class=\"_ _2\"></span>roup\u2019s co<span class=\"_ _2\"></span>st of g<span class=\"_ _2\"></span>ros<span class=\"_ _2\"></span>s debt r<span class=\"_ _2\"></span>ath<span class=\"_ _2\"></span>er t<span class=\"_ _2\"></span>han it<span class=\"_ _2\"></span>s ne<span class=\"_ _2\"></span>t debt g<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>n the m<span class=\"_ _2\"></span>ater<span class=\"_ _2\"></span>ial c<span class=\"_ _2\"></span>ash an<span class=\"_ _2\"></span>d cas<span class=\"_ _2\"></span>h </span>equivalent<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> set aside for<span class=\"_ _0\"></span> regulatory purposes; <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">the shor<span class=\"_ _2\"></span>t duration al<span class=\"_ _0\"></span>lowed for in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ments of<span class=\"_ _0\"></span> cash and cash equivalents held for<span class=\"_ _0\"></span> regulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> purposes </span>wh<span class=\"_ _2\"></span>ich, b<span class=\"_ _2\"></span>y the<span class=\"_ _2\"></span>ir nat<span class=\"_ _2\"></span>ure, g<span class=\"_ _2\"></span>ener<span class=\"_ _2\"></span>ate lo<span class=\"_ _2\"></span>w inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment y<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>lds; a<span class=\"_ _2\"></span>nd <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">t<span class=\"_ _2\"></span>he bro<span class=\"_ _2\"></span>ad na<span class=\"_ _2\"></span>tura<span class=\"_ _2\"></span>l hed<span class=\"_ _2\"></span>ge of f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng rat<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs p<span class=\"_ _2\"></span>rovi<span class=\"_ _2\"></span>ded by t<span class=\"_ _2\"></span>he si<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t bala<span class=\"_ _2\"></span>nces o<span class=\"_ _2\"></span>f cas<span class=\"_ _2\"></span>h and c<span class=\"_ _2\"></span>ash </span>equivalent<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> held effec<span class=\"_ _2\"></span>tively at floating rates of<span class=\"_ _0\"></span> interest.<span class=\"_ _314\"> </span>At 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 2025, th<span class=\"_ _2\"></span>e fl<span class=\"_ _2\"></span>oat<span class=\"_ _2\"></span>ing r<span class=\"_ _2\"></span>ate co<span class=\"_ _2\"></span>mpon<span class=\"_ _2\"></span>ent o<span class=\"_ _2\"></span>f tota<span class=\"_ _2\"></span>l debt w<span class=\"_ _2\"></span>as 40<span class=\"_ _2\"></span>% (2024: 30<span class=\"_ _2\"></span>%).<span class=\"_ _314\"> </span>Wh<span class=\"_ _2\"></span>ere t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up has c<span class=\"_ _2\"></span>omm<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ted to M<span class=\"_ _2\"></span>&amp;<span class=\"_ _2\"></span>A tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>s and i<span class=\"_ _2\"></span>s expo<span class=\"_ _2\"></span>sed to p<span class=\"_ _2\"></span>rosp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>e risk o<span class=\"_ _2\"></span>n borrowings, the Group T<span class=\"_ _3\"></span>reasur<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tion will<span class=\"_ _0\"></span> assess the exposure and<span class=\"_ _0\"></span> consider hedging solutions that con<span class=\"_ _2\"></span>form w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h pol<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>y and se<span class=\"_ _2\"></span>ek to li<span class=\"_ _2\"></span>mit f<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ure int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In the Group<span class=\"_ _0\"></span>\u2019s CCPs, int<span class=\"_ _0\"></span>erest-<span class=\"_ _2\"></span>bearing assets ar<span class=\"_ _0\"></span>e generally invested in<span class=\"_ _0\"></span> secured instrument<span class=\"_ _2\"></span>s or<span class=\"_ _0\"></span> st<span class=\"_ _2\"></span>ructures and for<span class=\"_ _0\"></span> a longer term<span class=\"_ _0\"></span> than interest-bearing liabilities, whose interest rat<span class=\"_ _0\"></span>e is reset<span class=\"_ _0\"></span> daily.<span class=\"_ _0\"></span> This makes<span class=\"_ _0\"></span> investment returns vulnerable t<span class=\"_ _0\"></span>o volatilit<span class=\"_ _2\"></span>y in<span class=\"_ _0\"></span> overnight rates<span class=\"_ _0\"></span> and shif<span class=\"_ _2\"></span>ts in<span class=\"_ _0\"></span> spreads between overnight and ter<span class=\"_ _2\"></span>m rate<span class=\"_ _2\"></span>s. In<span class=\"_ _2\"></span>tere<span class=\"_ _2\"></span>st r<span class=\"_ _2\"></span>ate exp<span class=\"_ _2\"></span>osu<span class=\"_ _2\"></span>res (and t<span class=\"_ _2\"></span>he r<span class=\"_ _2\"></span>isk to CC<span class=\"_ _2\"></span>P cap<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>al) a<span class=\"_ _2\"></span>re mana<span class=\"_ _2\"></span>ged w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin de<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ned r<span class=\"_ _2\"></span>isk ap<span class=\"_ _2\"></span>pet<span class=\"_ _2\"></span>ite<span class=\"_ _2\"></span> parameters against which sensitiv<span class=\"_ _2\"></span>ities are<span class=\"_ _0\"></span> monitored daily.<span class=\"_ _314\"> </span>In its review of<span class=\"_ _0\"></span> the sensitiv<span class=\"_ _2\"></span>ities to<span class=\"_ _0\"></span> potential movements in i<span class=\"_ _0\"></span>nterest rates, the Group<span class=\"_ _0\"></span> has considered<span class=\"_ _0\"></span> interest ra<span class=\"_ _2\"></span>te vola<span class=\"_ _2\"></span>til<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ast y<span class=\"_ _2\"></span>ear an<span class=\"_ _2\"></span>d pros<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s for r<span class=\"_ _2\"></span>ates ov<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>e nex<span class=\"_ _2\"></span>t 12 mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>s. I<span class=\"_ _2\"></span>t has con<span class=\"_ _2\"></span>clu<span class=\"_ _2\"></span>ded t<span class=\"_ _2\"></span>hat a one percentage<span class=\"_ _0\"></span> point downward movement<span class=\"_ _0\"></span> (wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> a limited prospect of m<span class=\"_ _0\"></span>aterial upward<span class=\"_ _0\"></span> movement) reflec<span class=\"_ _2\"></span>ts a rea<span class=\"_ _2\"></span>sona<span class=\"_ _2\"></span>ble l<span class=\"_ _2\"></span>evel of r<span class=\"_ _2\"></span>isk to c<span class=\"_ _2\"></span>urre<span class=\"_ _2\"></span>nt ra<span class=\"_ _2\"></span>tes. I<span class=\"_ _2\"></span>f int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>es on c<span class=\"_ _2\"></span>ash an<span class=\"_ _2\"></span>d cas<span class=\"_ _2\"></span>h equ<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>lent<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>, bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs an<span class=\"_ _2\"></span>d derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments had been<span class=\"_ _0\"></span> one percentage point<span class=\"_ _0\"></span> lower<span class=\"_ _0\"></span>, with all other variables held<span class=\"_ _0\"></span> constant<span class=\"_ _2\"></span>, pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t af<span class=\"_ _2\"></span>ter t<span class=\"_ _2\"></span>ax for 2<span class=\"_ _2\"></span>02<span class=\"_ _0\"></span>5 wo<span class=\"_ _2\"></span>uld h<span class=\"_ _2\"></span>ave be<span class=\"_ _2\"></span>en \u00a34 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n high<span class=\"_ _2\"></span>er (2024: \u00a35 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on low<span class=\"_ _2\"></span>er) ma<span class=\"_ _2\"></span>inl<span class=\"_ _2\"></span>y as a res<span class=\"_ _2\"></span>ult o<span class=\"_ _2\"></span>f lowe<span class=\"_ _2\"></span>r in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t exp<span class=\"_ _2\"></span>ens<span class=\"_ _2\"></span>e on f<span class=\"_ _2\"></span>loat<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>g rate b<span class=\"_ _2\"></span>orro<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>gs, p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly o<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fse<span class=\"_ _2\"></span>t by lowe<span class=\"_ _2\"></span>r inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t inco<span class=\"_ _2\"></span>me on f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng rat<span class=\"_ _2\"></span>e cash<span class=\"_ _2\"></span> and cash equivalents.<span class=\"_ _314\"> </span>At t<span class=\"_ _2\"></span>he CCP l<span class=\"_ _2\"></span>evel (<span class=\"_ _2\"></span>in ag<span class=\"_ _2\"></span>greg<span class=\"_ _2\"></span>ate), i<span class=\"_ _2\"></span>f inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t rate<span class=\"_ _2\"></span>s on th<span class=\"_ _2\"></span>e com<span class=\"_ _2\"></span>mon in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>bea<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g mem<span class=\"_ _2\"></span>ber li<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y be<span class=\"_ _2\"></span>nchm<span class=\"_ _2\"></span>ark<span class=\"_ _2\"></span>s of EO<span class=\"_ _2\"></span>NI<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>, Fed F<span class=\"_ _2\"></span>unds a<span class=\"_ _2\"></span>nd SO<span class=\"_ _2\"></span>NI<span class=\"_ _2\"></span>A (fo<span class=\"_ _2\"></span>r euro, U<span class=\"_ _2\"></span>S doll<span class=\"_ _2\"></span>ar an<span class=\"_ _2\"></span>d ste<span class=\"_ _2\"></span>rlin<span class=\"_ _2\"></span>g liab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>tie<span class=\"_ _2\"></span>s resp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vel<span class=\"_ _2\"></span>y) ha<span class=\"_ _2\"></span>d been one per<span class=\"_ _0\"></span>centage point lower<span class=\"_ _0\"></span>, with all<span class=\"_ _0\"></span> other variables held constant, the Group\u2019<span class=\"_ _0\"></span>s profit af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> tax would have been<span class=\"_ _0\"></span> \u00a31 million higher<span class=\"_ _0\"></span> (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a31 million)<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-566": {
   "value": "Capital risk<span class=\"_ _314\"> </span>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>Capital risk relates<span class=\"_ _0\"></span> to the Group<span class=\"_ _0\"></span>\u2019s ability to meet regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y capital requir<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> and minimum internal in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ment r<span class=\"_ _0\"></span>eturns.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>ere is a r<span class=\"_ _2\"></span>isk t<span class=\"_ _2\"></span>hat t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s ent<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ies m<span class=\"_ _2\"></span>ay not m<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>, or ha<span class=\"_ _2\"></span>ve con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>ued ac<span class=\"_ _2\"></span>cess t<span class=\"_ _2\"></span>o, suf<span class=\"_ _2\"></span>ficient high-<span class=\"_ _2\"></span>quality capital to meet<span class=\"_ _0\"></span> their regulatory,<span class=\"_ _0\"></span> or other obligations. This c<span class=\"_ _0\"></span>ould result in<span class=\"_ _0\"></span> a loss of<span class=\"_ _0\"></span> regulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> approvals and/or the imposition of financial sanctions.<span class=\"_ _314\"> </span>Either separately,<span class=\"_ _0\"></span> or in combination, the main capital risks faced by<span class=\"_ _0\"></span> the Group are<span class=\"_ _0\"></span>: <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">An increased regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y capital requir<span class=\"_ _0\"></span>ement </span>of its regulated<span class=\"_ _0\"></span> companies <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls76 ws5\">Realised, negative yields on its invest<span class=\"_ _2\"></span>ments</span> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">A<span class=\"_ _2\"></span>n inab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y to rai<span class=\"_ _2\"></span>se deb<span class=\"_ _2\"></span>t or eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>anci<span class=\"_ _2\"></span>ng </span>as a re<span class=\"_ _2\"></span>sul<span class=\"_ _2\"></span>t of it<span class=\"_ _2\"></span>s own p<span class=\"_ _2\"></span>oor f<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>nanc<span class=\"_ _2\"></span>ial per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance, or<span class=\"_ _0\"></span> poor financing conditions<span class=\"_ _314\"> </span>The Group,<span class=\"_ _0\"></span> which consists of both regulat<span class=\"_ _0\"></span>ed and unregulat<span class=\"_ _0\"></span>ed entit<span class=\"_ _2\"></span>ies,<span class=\"_ _0\"></span> is profit<span class=\"_ _2\"></span>able<span class=\"_ _0\"></span> and strongly cash ge<span class=\"_ _2\"></span>nera<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve. It c<span class=\"_ _2\"></span>an ma<span class=\"_ _2\"></span>nage i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l st<span class=\"_ _2\"></span>ruc<span class=\"_ _2\"></span>tu<span class=\"_ _2\"></span>re (wh<span class=\"_ _2\"></span>ich co<span class=\"_ _2\"></span>nsi<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s of eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d deb<span class=\"_ _2\"></span>t cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l) an<span class=\"_ _2\"></span>d reac<span class=\"_ _2\"></span>t to changes in<span class=\"_ _0\"></span> economic conditions<span class=\"_ _0\"></span> by var<span class=\"_ _2\"></span>ying<span class=\"_ _0\"></span> returns to<span class=\"_ _0\"></span> shareholders, issuing<span class=\"_ _0\"></span> new shares<span class=\"_ _0\"></span> or increasi<span class=\"_ _0\"></span>ng or reducing borr<span class=\"_ _0\"></span>owings. The Board<span class=\"_ _0\"></span> reviews dividend policy and funding<span class=\"_ _0\"></span> capacit<span class=\"_ _2\"></span>y on<span class=\"_ _0\"></span> a regular<span class=\"_ _0\"></span> basis and the Group maintains c<span class=\"_ _0\"></span>omfor<span class=\"_ _2\"></span>table lev<span class=\"_ _0\"></span>els of debt<span class=\"_ _0\"></span> facilit<span class=\"_ _2\"></span>y headroom. A<span class=\"_ _0\"></span> high-<span class=\"_ _2\"></span>level<span class=\"_ _0\"></span> summar<span class=\"_ _2\"></span>y o<span class=\"_ _0\"></span>f the Group\u2019<span class=\"_ _0\"></span>s capital s<span class=\"_ _2\"></span>tru<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ure is p<span class=\"_ _2\"></span>rese<span class=\"_ _2\"></span>nted b<span class=\"_ _2\"></span>elow<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span><table class=\"s w861 h28d\" id=\"_e05e6688-ef72-4201-a601-aac3463eb5af\"><tr><td></td><td class=\"c n xdd1 y2401 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2401 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2402 w862 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls7b wsb4\">Book value of capital<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd3 y2402 w34 h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd4 y2402 w5fb h27e\"><div class=\"t m0 x1e4 h187 y20d6 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w863 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> shareholders\u2019 funds<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd5 y22e4 w121 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">19,7<span class=\"_ _2\"></span>79<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd6 y22e4 w15e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6f ws99\">23<span class=\"_ _2\"></span>,013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w864 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Group borrowings<span class=\"_ _0\"></span> excluding<span class=\"_ _0\"></span> lease liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd7 y2069 w6f4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls39 ws0\">11<span class=\"_ _2\"></span>,091<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdd8 h193 y2403 ff76 fs129 fc1 sc0 ls4 ws3\">9,3<span class=\"_ _2\"></span>31<span class=\"_ _314\"> </span></td></tr></table>Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p main<span class=\"_ _2\"></span>tai<span class=\"_ _2\"></span>ns a C<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal M<span class=\"_ _2\"></span>anag<span class=\"_ _2\"></span>eme<span class=\"_ _2\"></span>nt Pol<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, th<span class=\"_ _2\"></span>e execu<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>s over<span class=\"_ _2\"></span>see<span class=\"_ _2\"></span>n by th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s Financial, Investment and Capital Committee. The Group seeks<span class=\"_ _0\"></span> to optimally allocate capital in<span class=\"_ _0\"></span> order to maintain a strong bal<span class=\"_ _0\"></span>ance sheet, meet r<span class=\"_ _0\"></span>egulator<span class=\"_ _2\"></span>y r<span class=\"_ _0\"></span>equirements<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> dri<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> growt<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> and of<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>er suitable returns to shar<span class=\"_ _0\"></span>eholders<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> Regulated entities within the Group monitor<span class=\"_ _0\"></span> compliance with policy and the capital requirements set<span class=\"_ _0\"></span> by their respective regulatory authori<span class=\"_ _2\"></span>ties and<span class=\"_ _0\"></span> they have been<span class=\"_ _0\"></span> compliant throughout the year<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Regulatory and operational capital represents: <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">Amount<span class=\"_ _2\"></span>s held<span class=\"_ _0\"></span> as regulatory cash and cash<span class=\"_ _0\"></span> equiv<span class=\"_ _2\"></span>alents </span> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">Let<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>rs of c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t iss<span class=\"_ _2\"></span>ued b<span class=\"_ _2\"></span>y the G<span class=\"_ _2\"></span>roup t<span class=\"_ _2\"></span>o cus<span class=\"_ _2\"></span>tome<span class=\"_ _2\"></span>rs an<span class=\"_ _2\"></span>d sup<span class=\"_ _2\"></span>plie<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></span>The Group\u2019<span class=\"_ _0\"></span>s total<span class=\"_ _0\"></span> regulatory and operational capital is shown<span class=\"_ _0\"></span> below<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span><table class=\"s w865 h275\" id=\"_0532d944-f7eb-4509-b9c4-1a60df215b43\"><tr><td></td><td class=\"c n xdd1 y2404 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2404 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e2 w866 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">Regulatory and operational capital<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd9 y22e2 w34 h225\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xdda y22e2 w5fb h225\"><div class=\"t m0 x1e4 h187 y20d6 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w867 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Regulatory cash and cash<span class=\"_ _0\"></span> equiv<span class=\"_ _2\"></span>alents<span class=\"_ _314\"> </span></div></td><td class=\"c n xddb y2288 w868 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xddc y2288 w869 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>342<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w86a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Let<span class=\"_ _2\"></span>ter<span class=\"_ _2\"></span>s of cre<span class=\"_ _2\"></span>dit<span class=\"_ _314\"> </span></div></td><td class=\"c n xddd y228f w639 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">16<span class=\"_ _314\"> </span></div></td><td class=\"c n xdde y228f wa0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">16<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w86b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y and<span class=\"_ _0\"></span> operational capital<span class=\"_ _314\"> </span></div></td><td class=\"c n xddf y2069 w86c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">1<span class=\"_ _2\"></span>,204<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdd8 h193 y2405 ff76 fs129 fc1 sc0 ls6c ws96\">1,<span class=\"_ _2\"></span>358<span class=\"_ _314\"> </span></td></tr></table>T<span class=\"_ _0\"></span>o ens<span class=\"_ _2\"></span>ure on<span class=\"_ _2\"></span>goi<span class=\"_ _2\"></span>ng f<span class=\"_ _2\"></span>inan<span class=\"_ _2\"></span>cial s<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>eng<span class=\"_ _2\"></span>th, a<span class=\"_ _2\"></span>cces<span class=\"_ _2\"></span>s to new c<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal a<span class=\"_ _2\"></span>t a reaso<span class=\"_ _2\"></span>nab<span class=\"_ _2\"></span>le cos<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>, and to su<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ain a<span class=\"_ _2\"></span>n inv<span class=\"_ _2\"></span>est<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t gra<span class=\"_ _2\"></span>de cre<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p moni<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>s it<span class=\"_ _2\"></span>s lev<span class=\"_ _2\"></span>erag<span class=\"_ _2\"></span>e rat<span class=\"_ _2\"></span>io ag<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>st a t<span class=\"_ _2\"></span>arget r<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>e of 1<span class=\"_ _2\"></span>.5<span class=\"_ _2\"></span>-2.5 ti<span class=\"_ _2\"></span>mes<span class=\"_ _2\"></span>. Leve<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>e is ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated a<span class=\"_ _2\"></span>s ope<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ing n<span class=\"_ _2\"></span>et deb<span class=\"_ _2\"></span>t (i.e<span class=\"_ _2\"></span>., net d<span class=\"_ _2\"></span>ebt af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r exclu<span class=\"_ _2\"></span>ding l<span class=\"_ _2\"></span>eas<span class=\"_ _2\"></span>e liab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>tie<span class=\"_ _2\"></span>s and am<span class=\"_ _2\"></span>oun<span class=\"_ _2\"></span>ts set aside<span class=\"_ _0\"></span> for r<span class=\"_ _0\"></span>egulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> and operational purposes)<span class=\"_ _0\"></span> to adjusted<span class=\"_ _0\"></span> EBIT<span class=\"_ _2\"></span>D<span class=\"_ _0\"></span>A befor<span class=\"_ _0\"></span>e fore<span class=\"_ _0\"></span>ign exc<span class=\"_ _0\"></span>hange gains or<span class=\"_ _0\"></span> losses (Group<span class=\"_ _0\"></span> adjusted earnings from<span class=\"_ _0\"></span> continuing operations bef<span class=\"_ _0\"></span>ore net<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inanc<span class=\"_ _0\"></span>e costs, tax<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> depreciation, amor<span class=\"_ _2\"></span>tisation and<span class=\"_ _0\"></span> impairment and be<span class=\"_ _0\"></span>fore f<span class=\"_ _0\"></span>oreign e<span class=\"_ _0\"></span>xchange gains<span class=\"_ _0\"></span> or losses).<span class=\"_ _0\"></span> At 31<span class=\"_ gs5a0\"> </span><span class=\"_ _0\"></span>December 20<span class=\"_ _0\"></span>25, le<span class=\"_ _0\"></span>verage wa<span class=\"_ _2\"></span>s 1.<span class=\"_ _2\"></span>8 tim<span class=\"_ _2\"></span>es (2024: 1.7 t<span class=\"_ _2\"></span>ime<span class=\"_ _2\"></span>s).<span class=\"_ _314\"> </span>While the Group\u2019<span class=\"_ _0\"></span>s bank<span class=\"_ _0\"></span> borrowing facilities do not inc<span class=\"_ _0\"></span>lude leverage and int<span class=\"_ _0\"></span>erest cover<span class=\"_ _0\"></span> ratio covenants, the Group takes<span class=\"_ _0\"></span> into acc<span class=\"_ _0\"></span>ount the potential impact to<span class=\"_ _0\"></span> the key<span class=\"_ _0\"></span> metric<span class=\"_ _2\"></span>s monitor<span class=\"_ _0\"></span>ed by credit<span class=\"_ _0\"></span> rat<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> agencies when con<span class=\"_ _2\"></span>sid<span class=\"_ _2\"></span>erin<span class=\"_ _2\"></span>g whe<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r to inc<span class=\"_ _2\"></span>rease t<span class=\"_ _2\"></span>he si<span class=\"_ _2\"></span>z<span class=\"_ _0\"></span>e of i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs an<span class=\"_ _2\"></span>d net d<span class=\"_ _2\"></span>ebt<span class=\"_ _2\"></span>. The G<span class=\"_ _2\"></span>roup s<span class=\"_ _2\"></span>eek<span class=\"_ _2\"></span>s to mai<span class=\"_ _2\"></span>nta<span class=\"_ _2\"></span>in a st<span class=\"_ _2\"></span>ron<span class=\"_ _2\"></span>g inv<span class=\"_ _2\"></span>est<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>t gra<span class=\"_ _2\"></span>de cre<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>ing an<span class=\"_ _2\"></span>d wil<span class=\"_ _2\"></span>l alw<span class=\"_ _2\"></span>ays s<span class=\"_ _2\"></span>eek to re<span class=\"_ _2\"></span>tur<span class=\"_ _2\"></span>n leve<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>e to it<span class=\"_ _2\"></span>s tar<span class=\"_ _2\"></span>get ra<span class=\"_ _2\"></span>nge i<span class=\"_ _2\"></span>f it r<span class=\"_ _2\"></span>ises te<span class=\"_ _2\"></span>mpo<span class=\"_ _2\"></span>rar<span class=\"_ _2\"></span>ily.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-567": {
   "value": "Cre<span class=\"_ _2\"></span>dit and co<span class=\"_ _2\"></span>ncent<span class=\"_ _2\"></span>ratio<span class=\"_ _2\"></span>n risk<span class=\"_ _314\"> </span>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>Cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk re<span class=\"_ _2\"></span>late<span class=\"_ _2\"></span>s to the p<span class=\"_ _2\"></span>oten<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>l for a G<span class=\"_ _2\"></span>roup counterpart<span class=\"_ _2\"></span>y (including C<span class=\"_ _0\"></span>CP members, and any count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> where there is<span class=\"_ _0\"></span> exposure through payment, clearing<span class=\"_ _0\"></span> or settlement pro<span class=\"_ _2\"></span>ces<span class=\"_ _2\"></span>ses) to b<span class=\"_ _2\"></span>e unab<span class=\"_ _2\"></span>le to me<span class=\"_ _2\"></span>et it<span class=\"_ _2\"></span>s f<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>ncia<span class=\"_ _2\"></span>l obligations to the<span class=\"_ _0\"></span> Group when due.<span class=\"_ _314\"> </span>Credit conc<span class=\"_ _0\"></span>entrat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> risk may a<span class=\"_ _0\"></span>rise through Group entities having large<span class=\"_ _0\"></span> indiv<span class=\"_ _2\"></span>idual or connected exposures<span class=\"_ _0\"></span> to groups<span class=\"_ _0\"></span> of counterpart<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> whose likelihood<span class=\"_ _0\"></span> of default is driven<span class=\"_ _0\"></span> by common underlying factors.<span class=\"_ _314\"> </span>Group<span class=\"_ _314\"> </span>Cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk i<span class=\"_ _2\"></span>s gove<span class=\"_ _2\"></span>rne<span class=\"_ _2\"></span>d by pol<span class=\"_ _2\"></span>icie<span class=\"_ _2\"></span>s deve<span class=\"_ _2\"></span>lop<span class=\"_ _2\"></span>ed at G<span class=\"_ _2\"></span>roup l<span class=\"_ _2\"></span>evel b<span class=\"_ _2\"></span>y the G<span class=\"_ _2\"></span>roup R<span class=\"_ _2\"></span>isk f<span class=\"_ _2\"></span>unc<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on. L<span class=\"_ _2\"></span>imi<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d th<span class=\"_ _2\"></span>resho<span class=\"_ _2\"></span>lds<span class=\"_ _2\"></span> for c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t and co<span class=\"_ _2\"></span>ncen<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on ri<span class=\"_ _2\"></span>sk are re<span class=\"_ _2\"></span>view<span class=\"_ _2\"></span>ed reg<span class=\"_ _2\"></span>ular<span class=\"_ _2\"></span>ly.<span class=\"_ _314\"> </span>Gr<span class=\"_ _2\"></span>oup co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>ies ma<span class=\"_ _2\"></span>ke jud<span class=\"_ _2\"></span>geme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s on t<span class=\"_ _2\"></span>he cre<span class=\"_ _2\"></span>dit q<span class=\"_ _2\"></span>uali<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>eir cl<span class=\"_ _2\"></span>ient<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>. This i<span class=\"_ _2\"></span>s bas<span class=\"_ _2\"></span>ed on t<span class=\"_ _2\"></span>he cli<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>\u2019s financial position, the recurring nature<span class=\"_ _0\"></span> of billing<span class=\"_ _0\"></span> and collect<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> arrangement<span class=\"_ _2\"></span>s, and<span class=\"_ _0\"></span> his<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>orical evidence rel<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng to th<span class=\"_ _2\"></span>e clie<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>\u2019s abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y to me<span class=\"_ _2\"></span>et it<span class=\"_ _2\"></span>s f<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>ncia<span class=\"_ _2\"></span>l liab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>tie<span class=\"_ _2\"></span>s as th<span class=\"_ _2\"></span>ey fal<span class=\"_ _2\"></span>l due. T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s cl<span class=\"_ _2\"></span>ient b<span class=\"_ _2\"></span>ase i<span class=\"_ _2\"></span>s dive<span class=\"_ _2\"></span>rs<span class=\"_ _2\"></span>e an<span class=\"_ _2\"></span>d so man<span class=\"_ _2\"></span>agem<span class=\"_ _2\"></span>ent d<span class=\"_ _2\"></span>eem<span class=\"_ _2\"></span>s conce<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>rat<span class=\"_ _2\"></span>ion r<span class=\"_ _2\"></span>isk on t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s re<span class=\"_ _2\"></span>ceiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>es to be l<span class=\"_ _2\"></span>ow. Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s main c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t ris<span class=\"_ _2\"></span>k exp<span class=\"_ _2\"></span>osure a<span class=\"_ _2\"></span>ris<span class=\"_ _2\"></span>es on t<span class=\"_ _2\"></span>he f<span class=\"_ _2\"></span>inan<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>l asse<span class=\"_ _2\"></span>ts s<span class=\"_ _2\"></span>hown e<span class=\"_ _2\"></span>arl<span class=\"_ _2\"></span>ier in n<span class=\"_ _2\"></span>ote<span class=\"_ gs5a0\"> </span>17.<span class=\"_ _0\"></span>1<span class=\"_ _2\"></span>. The<span class=\"_ _2\"></span>re have<span class=\"_ _2\"></span> be<span class=\"_ _2\"></span>en no si<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t incr<span class=\"_ _2\"></span>ease<span class=\"_ _2\"></span>s in cre<span class=\"_ _2\"></span>dit r<span class=\"_ _2\"></span>isk fo<span class=\"_ _2\"></span>r the<span class=\"_ _2\"></span>se as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s and n<span class=\"_ _2\"></span>o est<span class=\"_ _2\"></span>ima<span class=\"_ _2\"></span>ted cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t los<span class=\"_ _2\"></span>ses ha<span class=\"_ _2\"></span>ve bee<span class=\"_ _2\"></span>n recognised on<span class=\"_ _0\"></span> other financial instr<span class=\"_ _2\"></span>uments.<span class=\"_ _314\"> </span>Non-<span class=\"_ _2\"></span>CCP entities<span class=\"_ _314\"> </span>The principal sour<span class=\"_ _0\"></span>ce of non-CCP credit risk is<span class=\"_ _0\"></span> the credit<span class=\"_ _2\"></span>worthiness of the inv<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>tment c<span class=\"_ _0\"></span>ounterpar<span class=\"_ _2\"></span>ties with which the Group<span class=\"_ _0\"></span> deposit<span class=\"_ _2\"></span>s cash. The<span class=\"_ _0\"></span> Group manages its credit risk<span class=\"_ _0\"></span> by outlining the maximum financial exposure that<span class=\"_ _0\"></span> may be tak<span class=\"_ _0\"></span>en against any one<span class=\"_ _0\"></span> counterpar<span class=\"_ _2\"></span>ty,<span class=\"_ _0\"></span> based on an<span class=\"_ _0\"></span> assessment of the count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ty<span class=\"_ _2\"></span>\u2019s<span class=\"_ _0\"></span> credit qualit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Cash and cash<span class=\"_ _0\"></span> equi<span class=\"_ _2\"></span>valents are<span class=\"_ _0\"></span> held with authorise<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> counterpar<span class=\"_ _2\"></span>ties o<span class=\"_ _0\"></span>f a high cr<span class=\"_ _0\"></span>edit<span class=\"_ _2\"></span>wort<span class=\"_ _2\"></span>hiness. Cash is<span class=\"_ _0\"></span> held in unsecured<span class=\"_ _0\"></span> interest-bearing current and call<span class=\"_ _0\"></span> accounts. Cash equivalent<span class=\"_ _2\"></span>s comprise<span class=\"_ _0\"></span> shor<span class=\"_ _2\"></span>t-term deposits and A<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>-r<span class=\"_ _2\"></span>ated m<span class=\"_ _2\"></span>oney m<span class=\"_ _2\"></span>arket f<span class=\"_ _2\"></span>und<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>De<span class=\"_ _2\"></span>riv<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ve t<span class=\"_ _2\"></span>rans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ons (an<span class=\"_ _2\"></span>d oth<span class=\"_ _2\"></span>er tr<span class=\"_ _2\"></span>easu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y recei<span class=\"_ _2\"></span>vab<span class=\"_ _2\"></span>le s<span class=\"_ _2\"></span>tru<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ures) m<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t be in li<span class=\"_ _2\"></span>ne wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s po<span class=\"_ _2\"></span>lic<span class=\"_ _2\"></span>y framework and may<span class=\"_ _0\"></span> only be undertaken with highly rated count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ties.<span class=\"_ _314\"> </span>CCPs<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e prin<span class=\"_ _2\"></span>cip<span class=\"_ _2\"></span>al sou<span class=\"_ _2\"></span>rce of CC<span class=\"_ _2\"></span>P cred<span class=\"_ _2\"></span>it ri<span class=\"_ _2\"></span>sk li<span class=\"_ _2\"></span>es in t<span class=\"_ _2\"></span>he pot<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>ial for o<span class=\"_ _2\"></span>ne or m<span class=\"_ _2\"></span>ore cl<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>ing me<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>rs to d<span class=\"_ _2\"></span>efau<span class=\"_ _2\"></span>lt<span class=\"_ _2\"></span>. Group CCPs manage<span class=\"_ _0\"></span> this risk through r<span class=\"_ _0\"></span>obus<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> risk management. Clearing members are<span class=\"_ _0\"></span> selec<span class=\"_ _2\"></span>ted based on an<span class=\"_ _0\"></span> assessment of their s<span class=\"_ _0\"></span>uper<span class=\"_ _2\"></span>visor<span class=\"_ _2\"></span>y capital as<span class=\"_ _0\"></span> well as their t<span class=\"_ _0\"></span>echnical and organisational strength. Eac<span class=\"_ _2\"></span>h mem<span class=\"_ _2\"></span>ber mu<span class=\"_ _2\"></span>st p<span class=\"_ _2\"></span>ay mar<span class=\"_ _2\"></span>gins t<span class=\"_ _2\"></span>o the re<span class=\"_ _2\"></span>leva<span class=\"_ _2\"></span>nt G<span class=\"_ _2\"></span>roup CC<span class=\"_ _2\"></span>P<span class=\"_ _3\"></span>. Th<span class=\"_ _2\"></span>is mu<span class=\"_ _2\"></span>st in<span class=\"_ _2\"></span>clu<span class=\"_ _2\"></span>de a min<span class=\"_ _2\"></span>imu<span class=\"_ _2\"></span>m level o<span class=\"_ _2\"></span>f cas<span class=\"_ _2\"></span>h and can also include<span class=\"_ _0\"></span> highly liquid securities. Clearing members also c<span class=\"_ _0\"></span>ont<span class=\"_ _2\"></span>ribute<span class=\"_ _0\"></span> to default funds<span class=\"_ _0\"></span> managed by the Gr<span class=\"_ _2\"></span>oup CC<span class=\"_ _2\"></span>Ps. T<span class=\"_ _2\"></span>hes<span class=\"_ _2\"></span>e aim to p<span class=\"_ _2\"></span>rotec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he int<span class=\"_ _2\"></span>egr<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y of th<span class=\"_ _2\"></span>e mar<span class=\"_ _2\"></span>kets i<span class=\"_ _2\"></span>n the e<span class=\"_ _2\"></span>vent o<span class=\"_ _2\"></span>f mul<span class=\"_ _2\"></span>tip<span class=\"_ _2\"></span>le def<span class=\"_ _2\"></span>aul<span class=\"_ _2\"></span>ts i<span class=\"_ _2\"></span>n ex<span class=\"_ _2\"></span>trem<span class=\"_ _2\"></span>e market<span class=\"_ _0\"></span> circumstances. Group CCPs use<span class=\"_ _0\"></span> s<span class=\"_ _2\"></span>tress<span class=\"_ _0\"></span> test<span class=\"_ _2\"></span>s t<span class=\"_ _0\"></span>o determine the<span class=\"_ _0\"></span> appropriate margin<span class=\"_ _0\"></span> and default fund req<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>. Thes<span class=\"_ _2\"></span>e are rev<span class=\"_ _2\"></span>iew<span class=\"_ _2\"></span>ed by CC<span class=\"_ _2\"></span>P risk c<span class=\"_ _2\"></span>ommi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>tees w<span class=\"_ _2\"></span>ho c<span class=\"_ _2\"></span>an take a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>s app<span class=\"_ _2\"></span>ropr<span class=\"_ _2\"></span>iate<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>CCPs are<span class=\"_ _0\"></span> required by<span class=\"_ _0\"></span> regulation to hold<span class=\"_ _0\"></span> a minimum amount<span class=\"_ _0\"></span> of capital (regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y capital). Each<span class=\"_ _0\"></span> of the Group\u2019<span class=\"_ _0\"></span>s CCPs maintains this<span class=\"_ _0\"></span> regulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> capit<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> requirement, together with an additional holding<span class=\"_ _0\"></span> of its ow<span class=\"_ _2\"></span>n cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l. Th<span class=\"_ _2\"></span>is add<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>iona<span class=\"_ _2\"></span>l cap<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>al is to h<span class=\"_ _2\"></span>elp ma<span class=\"_ _2\"></span>nage c<span class=\"_ _2\"></span>redi<span class=\"_ _2\"></span>t ri<span class=\"_ _2\"></span>sk dur<span class=\"_ _2\"></span>ing a si<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t mar<span class=\"_ _2\"></span>ket st<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>s event<span class=\"_ _2\"></span> or member<span class=\"_ _0\"></span> default.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e tota<span class=\"_ _2\"></span>l clea<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g memb<span class=\"_ _2\"></span>er co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ibu<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns of ma<span class=\"_ _2\"></span>rgi<span class=\"_ _2\"></span>n and de<span class=\"_ _2\"></span>faul<span class=\"_ _2\"></span>t fu<span class=\"_ _2\"></span>nds ac<span class=\"_ _2\"></span>ross t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup CC<span class=\"_ _2\"></span>Ps i<span class=\"_ _2\"></span>s show<span class=\"_ _2\"></span>n bel<span class=\"_ _2\"></span>ow:<span class=\"_ _314\"> </span><table class=\"s w878 h28e\" id=\"_3f23d898-14ce-47b1-98fd-9669e89832e5\"><tr><td></td><td></td><td class=\"c n xdd1 y2406 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2406 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2407 w879 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 lse5 ws75\">T<span class=\"_ _0\"></span>otal collat<span class=\"_ _0\"></span>eral held<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdeb y2407 w87a h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3bn<span class=\"_ _314\"> </span></div></td><td class=\"c n xdec y2407 w248 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls77 wsa0\">\u00a3bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f7 w87b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Collateral securit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></div></td><td class=\"c n xded y23f7 w87c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wse8\">Cash<span class=\"_ _0\"></span> receiv<span class=\"_ _0\"></span>ed<span class=\"_ _314\"> </span></div></td><td class=\"c n xdee y23f7 w87d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls88 wsb4\">91<span class=\"_ _314\"> </span></div></td><td class=\"c n xdef y23f7 w567 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">92<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xdf0 y22e2 w87e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Non-<span class=\"_ _2\"></span>cash pledged<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf1 y22e2 w87f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">186<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf2 y22e2 w880 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">17<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xdf0 y22e3 w881 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Guarantees pledged<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf3 y22e3 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf4 y22e3 w2df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w882 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ota<span class=\"_ _2\"></span>l coll<span class=\"_ _2\"></span>atera<span class=\"_ _2\"></span>l as at 3<span class=\"_ _2\"></span>1 Dece<span class=\"_ _2\"></span>mber<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdf5 y22e4 w883 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6e ws98\">27<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xdf6 y22e4 w171 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls72 ws9b\">270<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w884 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Maximum collateral he<span class=\"_ _0\"></span>ld during the year<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xdf7 y2069 web h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">303<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdf8 h193 y240a ff76 fs129 fc1 sc0 lsa1 wsda\">334<span class=\"_ _314\"> </span></td></tr></table>Gr<span class=\"_ _2\"></span>oup CC<span class=\"_ _2\"></span>Ps ma<span class=\"_ _2\"></span>nage t<span class=\"_ _2\"></span>he cr<span class=\"_ _2\"></span>edi<span class=\"_ _2\"></span>t ris<span class=\"_ _2\"></span>k asso<span class=\"_ _2\"></span>cia<span class=\"_ _2\"></span>ted wi<span class=\"_ _2\"></span>th m<span class=\"_ _2\"></span>argi<span class=\"_ _2\"></span>n and de<span class=\"_ _2\"></span>faul<span class=\"_ _2\"></span>t fu<span class=\"_ _2\"></span>nd con<span class=\"_ _2\"></span>tri<span class=\"_ _2\"></span>bu<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns by in<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g the<span class=\"_ _2\"></span> cash element in<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments or structures deemed secure b<span class=\"_ _0\"></span>y the relevant<span class=\"_ _0\"></span> regulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> bodies. This includes direct investment<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> in highly rated, regulat<span class=\"_ _0\"></span>or<span class=\"_ _2\"></span>y qualifying sovereign bonds<span class=\"_ _0\"></span> and supranational debt; investments in tri-<span class=\"_ _2\"></span>part<span class=\"_ _2\"></span>y and<span class=\"_ _0\"></span> bilateral re<span class=\"_ _0\"></span>verse repos (r<span class=\"_ _0\"></span>eceiving high-<span class=\"_ _2\"></span>qualit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> government securities as collateral);<span class=\"_ _0\"></span> and, in cert<span class=\"_ _2\"></span>ain<span class=\"_ _0\"></span> jurisdic<span class=\"_ _2\"></span>tions, deposits with the central bank. The small<span class=\"_ _0\"></span> propor<span class=\"_ _2\"></span>tion of<span class=\"_ _0\"></span> cash that is i<span class=\"_ _0\"></span>nvested unsecured is placed<span class=\"_ _0\"></span> for short durations with highly rated counterparties where limits are applied<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> respec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> to credit qualit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, c<span class=\"_ _0\"></span>oncentrat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> and tenor<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span><table class=\"s w86d h28e\" id=\"_29b47f04-ea01-4815-8d20-981172e52eab\"><tr><td></td><td class=\"c n xdd1 y2406 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xdd2 y2406 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xde0 y2407 w86e h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3bn<span class=\"_ _314\"> </span></div></td><td class=\"c n xde1 y2407 w86f h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls77 wsa0\">\u00a3<span class=\"_ _2\"></span>bn<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f7 w870 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> investment por<span class=\"_ _2\"></span>tfolio<span class=\"_ _314\"> </span></div></td><td class=\"c n xde2 y23f7 w591 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">90<span class=\"_ _314\"> </span></div></td><td class=\"c n xde3 y23f7 w164 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">90<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e2 w871 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ma<span class=\"_ _2\"></span>xim<span class=\"_ _2\"></span>um po<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tfo<span class=\"_ _2\"></span>lio si<span class=\"_ _2\"></span>z<span class=\"_ _0\"></span>e d<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g the y<span class=\"_ _2\"></span>ear<span class=\"_ _314\"> </span></div></td><td class=\"c n xde4 y22e2 w1fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">107<span class=\"_ _314\"> </span></div></td><td class=\"c n xde5 y22e2 w872 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws126\">110<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 xde6 h187 y2408 ff75 fs129 fc1 sc0 ls6d wsd4\">Additional port<span class=\"_ _2\"></span>folio information<span class=\"_ _0\"></span>:<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y22e4 w873 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Propor<span class=\"_ _2\"></span>tion invested<span class=\"_ _0\"></span> securely<span class=\"_ _314\"> </span></div></td><td class=\"c n xde7 y22e4 w874 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">99.9<span class=\"_ _2\"></span>5%<span class=\"_ _314\"> </span></div></td><td class=\"c n xde8 y22e4 w875 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">99.98<span class=\"_ _2\"></span>%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w876 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Weig<span class=\"_ _2\"></span>hted a<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>age ma<span class=\"_ _2\"></span>tur<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y (day<span class=\"_ _2\"></span>s)<span class=\"_ _314\"> </span></div></td><td class=\"c n xde9 y2069 w877 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">82<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xdea h193 y2409 ff76 fs129 fc1 sc0 lsab wsd4\">72<span class=\"_ _314\"> </span></td></tr></table>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>Associated liquidit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> risks are consider<span class=\"_ _0\"></span>ed in the investment mix and<span class=\"_ _0\"></span> discussed fur<span class=\"_ _2\"></span>ther below<span class=\"_ _0\"></span> in the Liquidit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, Sett<span class=\"_ _2\"></span>lement<span class=\"_ _0\"></span> and Custodial risk<span class=\"_ _0\"></span> sec<span class=\"_ _2\"></span>tion.<span class=\"_ _314\"> </span>T<span class=\"_ _3\"></span>o address concentration risk, the Group ma<span class=\"_ _0\"></span>intains a diversif<span class=\"_ _2\"></span>ied<span class=\"_ _0\"></span> por<span class=\"_ _2\"></span>tfolio of high-quali<span class=\"_ _2\"></span>ty<span class=\"_ _0\"></span>, liquid investments and uses a<span class=\"_ _0\"></span> broad range of<span class=\"_ _0\"></span> custodians, payment and settlement banks and agents. The largest c<span class=\"_ _0\"></span>oncentrat<span class=\"_ _2\"></span>ion of t<span class=\"_ _2\"></span>reasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y exp<span class=\"_ _2\"></span>osure<span class=\"_ _2\"></span>s as at 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er 2025 was w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the F<span class=\"_ _2\"></span>rench G<span class=\"_ _2\"></span>ove<span class=\"_ _2\"></span>rnme<span class=\"_ _2\"></span>nt w<span class=\"_ _2\"></span>ith a<span class=\"_ _2\"></span>n agg<span class=\"_ _2\"></span>rega<span class=\"_ _2\"></span>te exp<span class=\"_ _2\"></span>osu<span class=\"_ _2\"></span>re of 41% of t<span class=\"_ _2\"></span>he to<span class=\"_ _2\"></span>tal in<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent po<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tfo<span class=\"_ _2\"></span>lio (<span class=\"_ _2\"></span>202<span class=\"_ _0\"></span>4: 4<span class=\"_ _2\"></span>0% wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he Fre<span class=\"_ _2\"></span>nch G<span class=\"_ _2\"></span>over<span class=\"_ _2\"></span>nme<span class=\"_ _2\"></span>nt)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>rade rec<span class=\"_ _0\"></span>eivables (including fees receivable)<span class=\"_ _314\"> </span>An i<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>irme<span class=\"_ _2\"></span>nt an<span class=\"_ _2\"></span>aly<span class=\"_ _2\"></span>sis of t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>de an<span class=\"_ _2\"></span>d fees re<span class=\"_ _2\"></span>ceiv<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e is pe<span class=\"_ _2\"></span>rf<span class=\"_ _2\"></span>orm<span class=\"_ _2\"></span>ed mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>ly us<span class=\"_ _2\"></span>ing a pr<span class=\"_ _2\"></span>ovi<span class=\"_ _2\"></span>sion m<span class=\"_ _2\"></span>atr<span class=\"_ _2\"></span>ix to measure<span class=\"_ _0\"></span> expec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> credit losses bas<span class=\"_ _0\"></span>ed on factors such as<span class=\"_ _0\"></span> the counterpart<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _0\"></span> historic payment practices, expected future payments and the economic<span class=\"_ _0\"></span> environment at large.<span class=\"_ _0\"></span> The calculation re<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>lect<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> current conditions together<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> forecast<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of future ec<span class=\"_ _0\"></span>onomic conditions. None of<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s trade rec<span class=\"_ _0\"></span>eivables are mat<span class=\"_ _0\"></span>erial by individual count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>ty.<span class=\"_ _314\"> </span><table class=\"s w889 h28f\" id=\"_759196ad-4a26-464b-8bb7-16630a753719\"><tr><td></td><td></td><td></td><td class=\"t m0 xe05 h13 y240c ff75 fs6 fc1 sc0 ls12 ws44\">T<span class=\"_ _0\"></span>rade rec<span class=\"_ _0\"></span>eivables<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xe06 h13 y240d ff75 fs6 fc1 sc0 ls4 ws3\">Fees </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c n xe07 y240e w88a h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls7a wsbe\">receivable<span class=\"_ _314\"> </span></div></td><td class=\"c n xe08 y240e w88b h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">&lt;<span class=\"_ _2\"></span>18<span class=\"_ _2\"></span>0 days<span class=\"_ _314\"> </span></div></td><td class=\"c n xe09 y240e w88c h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">&gt;180 d<span class=\"_ _2\"></span>ays<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0a y240e w52c h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _1\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y240f w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0b y240f w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0c y240f w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0d y240f w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0e y240f w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w88d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed credit<span class=\"_ _0\"></span> loss rate<span class=\"_ _314\"> </span></div></td><td class=\"c n xe0f y213d w88e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6d ws97\">&lt;1%<span class=\"_ _314\"> </span></div></td><td class=\"c n xe10 y213d w88e h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6d ws97\">&lt;1%<span class=\"_ _314\"> </span></div></td><td class=\"c n xe11 y213d w88f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">23.9%<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c n x1eb y20d9 w890 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> receivables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe12 y20d9 w571 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">388<span class=\"_ _314\"> </span></div></td><td class=\"c n xe13 y20d9 w328 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">869<span class=\"_ _314\"> </span></div></td><td class=\"c n xe14 y20d9 w891 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">88<span class=\"_ _314\"> </span></div></td><td class=\"c n xe15 y20d9 w892 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">1,<span class=\"_ _2\"></span>345<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w893 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed credit<span class=\"_ _0\"></span> loss<span class=\"_ _314\"> </span></div></td><td class=\"c n xe16 y20da w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe17 y20da w560 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe18 y20da w136 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">(20)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe19 y20da w4a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(23)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w894 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t trad<span class=\"_ _2\"></span>e and fe<span class=\"_ _2\"></span>es re<span class=\"_ _2\"></span>ceiv<span class=\"_ _2\"></span>able<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xe1a y2069 w571 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa9 ws7e\">388<span class=\"_ _314\"> </span></div></td><td class=\"c n xe1b y2069 w224 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaa wsd6\">866<span class=\"_ _314\"> </span></div></td><td class=\"c n xe1c y2069 w777 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xe1d y2069 w625 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,322<span class=\"_ _314\"> </span></div></td></tr></table><table class=\"s w895 h290\" id=\"_aa0e5234-4eb5-4d2d-bba9-3326c6fa00cb\"><tr><td></td><td></td><td></td><td class=\"t m0 xe1e hb y2410 ff76 fs6 fc1 sc0 ls27 ws43\">T<span class=\"_ _0\"></span>rade rece<span class=\"_ _0\"></span>ivab<span class=\"_ _2\"></span>les<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xe06 hb y2411 ff76 fs6 fc1 sc0 ls4 ws3\">Fee<span class=\"_ _2\"></span>s </td><td></td><td></td><td></td></tr><tr><td></td><td class=\"c n xe1f y2412 w896 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls77 wsa0\">receivable<span class=\"_ _314\"> </span></div></td><td class=\"c n xe20 y2412 w897 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">&lt;<span class=\"_ _2\"></span>180 d<span class=\"_ _2\"></span>ays<span class=\"_ _314\"> </span></div></td><td class=\"c n xe21 y2412 w898 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls119 ws122\">&gt;18<span class=\"_ _2\"></span>0 day<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xe22 y2412 w899 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2413 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe23 y2413 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe24 y2413 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x316 y2413 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe25 y2413 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w88d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed credit<span class=\"_ _0\"></span> loss rate<span class=\"_ _314\"> </span></div></td><td class=\"c n xe26 y214c w89a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">&lt;<span class=\"_ _2\"></span>1%<span class=\"_ _314\"> </span></div></td><td class=\"c n xe27 y214c w89a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">&lt;<span class=\"_ _2\"></span>1%<span class=\"_ _314\"> </span></div></td><td class=\"c n xe28 y214c w89b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wsda\">18.0%<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td class=\"c n x1eb y213e w890 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> receivables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe12 y213e w89c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">300<span class=\"_ _314\"> </span></div></td><td class=\"c n xe29 y213e w41b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">865<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2a y213e w551 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2b y213e w89d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1,<span class=\"_ _2\"></span>251<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w893 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed credit<span class=\"_ _0\"></span> loss<span class=\"_ _314\"> </span></div></td><td class=\"c n xe16 y214f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2c y214f w53c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">(2)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2d y214f w845 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(18)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2e y214f w89e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(<span class=\"_ _2\"></span>20)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w89f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t tra<span class=\"_ _2\"></span>de an<span class=\"_ _2\"></span>d fees re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>vab<span class=\"_ _2\"></span>les<span class=\"_ _314\"> </span></div></td><td class=\"c n xe2f y2069 w89c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">300<span class=\"_ _314\"> </span></div></td><td class=\"c n xe30 y2069 w8a0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">863<span class=\"_ _314\"> </span></div></td><td class=\"c n xe31 y2069 w101 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">68<span class=\"_ _314\"> </span></div></td><td class=\"c n xe32 y2069 w626 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">1,<span class=\"_ _2\"></span>231<span class=\"_ _314\"> </span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-568": {
   "value": "Liquidity,<span class=\"_ _0\"></span> settlement and custodial risk<span class=\"_ _314\"> </span>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>The Group\u2019<span class=\"_ _0\"></span>s liquidity risk relat<span class=\"_ _0\"></span>es to its ability to meet<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> shor<span class=\"_ _2\"></span>t-<span class=\"_ _0\"></span> and long-term payment obligations as<span class=\"_ _0\"></span> they fall due.<span class=\"_ _314\"> </span>Additionally,<span class=\"_ _0\"></span> the Group\u2019<span class=\"_ _0\"></span>s CCPs, and certain ot<span class=\"_ _2\"></span>her G<span class=\"_ _2\"></span>roup e<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es, m<span class=\"_ _2\"></span>ust m<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>tain a l<span class=\"_ _2\"></span>evel<span class=\"_ _2\"></span> of liquidity (consistent with regula<span class=\"_ _0\"></span>tor<span class=\"_ _2\"></span>y requirements) t<span class=\"_ _0\"></span>o ensure the<span class=\"_ _0\"></span> smooth operation of t<span class=\"_ _2\"></span>heir re<span class=\"_ _2\"></span>spe<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>e ser<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ces an<span class=\"_ _2\"></span>d to be ab<span class=\"_ _2\"></span>le to con<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>ue to op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>te in t<span class=\"_ _2\"></span>he even<span class=\"_ _2\"></span>t of a sig<span class=\"_ _2\"></span>nif<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>ant<span class=\"_ _2\"></span> stress event.<span class=\"_ _314\"> </span>The Group\u2019<span class=\"_ _0\"></span>s settlement and custodial risks rel<span class=\"_ _2\"></span>ate to th<span class=\"_ _2\"></span>e pote<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>ial for a p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>tn<span class=\"_ _2\"></span>er f<span class=\"_ _2\"></span>irm to<span class=\"_ _2\"></span> def<span class=\"_ _2\"></span>aul<span class=\"_ _2\"></span>t on it<span class=\"_ _2\"></span>s ob<span class=\"_ _2\"></span>lig<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons in r<span class=\"_ _2\"></span>espe<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>f cus<span class=\"_ _2\"></span>tod<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, settlement<span class=\"_ _2\"></span>, pa<span class=\"_ _0\"></span>yment or other administration ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es, or t<span class=\"_ _2\"></span>hat n<span class=\"_ _2\"></span>o ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n is ta<span class=\"_ _2\"></span>ken by t<span class=\"_ _2\"></span>he Group to<span class=\"_ _0\"></span> mitigate these risks. This also inc<span class=\"_ _2\"></span>lud<span class=\"_ _2\"></span>es th<span class=\"_ _2\"></span>e ris<span class=\"_ _2\"></span>k tha<span class=\"_ _2\"></span>t clie<span class=\"_ _2\"></span>nt as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s are im<span class=\"_ _2\"></span>mobi<span class=\"_ _2\"></span>lis<span class=\"_ _2\"></span>ed as a re<span class=\"_ _2\"></span>sult o<span class=\"_ _2\"></span>f a thi<span class=\"_ _2\"></span>rd<span class=\"_ _2\"></span>-pa<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>ty<span class=\"_ _2\"></span> bankruptcy.<span class=\"_ _314\"> </span>Group<span class=\"_ _314\"> </span>The Group ma<span class=\"_ _0\"></span>intains suf<span class=\"_ _2\"></span>ficient liquid resour<span class=\"_ _0\"></span>ces to<span class=\"_ _0\"></span> meet its f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> obligations as they fall<span class=\"_ _0\"></span> due, and t<span class=\"_ _0\"></span>o invest in<span class=\"_ _0\"></span> capital expenditure, pay<span class=\"_ _0\"></span> dividends, meet its pension commitments and appr<span class=\"_ _0\"></span>opriately support or fund acquisitions or<span class=\"_ _0\"></span> repay borr<span class=\"_ _0\"></span>owings. Subject to regul<span class=\"_ _0\"></span>ator<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>onst<span class=\"_ _2\"></span>raints impacting certain entities<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> funds can (generally) be lent acr<span class=\"_ _0\"></span>oss the Group and<span class=\"_ _0\"></span> cash earnings remitted through regular<span class=\"_ _0\"></span> div<span class=\"_ _2\"></span>idend<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s by subs<span class=\"_ _0\"></span>idiar<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>ompanies. This is<span class=\"_ _0\"></span> an import<span class=\"_ _2\"></span>ant<span class=\"_ _0\"></span> component of<span class=\"_ _0\"></span> the Group T<span class=\"_ _3\"></span>reasur<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> cash management policy and approach.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p is pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>ble, h<span class=\"_ _2\"></span>as st<span class=\"_ _2\"></span>ron<span class=\"_ _2\"></span>g free c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>w and g<span class=\"_ _2\"></span>ener<span class=\"_ _2\"></span>ates a<span class=\"_ _2\"></span>nnui<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y-<span class=\"_ _2\"></span>like re<span class=\"_ _2\"></span>venu<span class=\"_ _2\"></span>e whic<span class=\"_ _2\"></span>h is no<span class=\"_ _2\"></span>t significant<span class=\"_ _2\"></span>ly i<span class=\"_ _0\"></span>mpac<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> by seasonal<span class=\"_ _0\"></span> variations. Management monitors f<span class=\"_ _0\"></span>orecast<span class=\"_ _2\"></span>s o<span class=\"_ _0\"></span>f the Group\u2019<span class=\"_ _0\"></span>s cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>low<span class=\"_ _0\"></span> and overlays se<span class=\"_ _0\"></span>nsit<span class=\"_ _2\"></span>ivities to<span class=\"_ _0\"></span> these forecasts to r<span class=\"_ _0\"></span>ef<span class=\"_ _2\"></span>lect assumptions about<span class=\"_ _0\"></span> more challenging<span class=\"_ _0\"></span> market<span class=\"_ _0\"></span> conditions or stress events. The Group will<span class=\"_ _0\"></span> take the appropriate<span class=\"_ _0\"></span> act<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> to satisf<span class=\"_ _2\"></span>y working capital requir<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> when committ<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> to large<span class=\"_ _0\"></span> scale acquisitions, including<span class=\"_ _0\"></span> making sure<span class=\"_ _0\"></span> there is<span class=\"_ _0\"></span> comfor<span class=\"_ _2\"></span>table<span class=\"_ _0\"></span> liquidit<span class=\"_ _2\"></span>y headr<span class=\"_ _0\"></span>oom pro<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>ted o<span class=\"_ _2\"></span>ver a rea<span class=\"_ _2\"></span>son<span class=\"_ _2\"></span>able t<span class=\"_ _2\"></span>ime f<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>me.<span class=\"_ _314\"> </span>Non-<span class=\"_ _2\"></span>CCP entities<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p T<span class=\"_ _0\"></span>reas<span class=\"_ _2\"></span>ur<span class=\"_ _2\"></span>y Pol<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>y requ<span class=\"_ _2\"></span>ires t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup to ma<span class=\"_ _2\"></span>int<span class=\"_ _2\"></span>ain a<span class=\"_ _2\"></span>dequ<span class=\"_ _2\"></span>ate cre<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>t faci<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies p<span class=\"_ _2\"></span>rov<span class=\"_ _2\"></span>ided b<span class=\"_ _2\"></span>y a div<span class=\"_ _2\"></span>ers<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>ied le<span class=\"_ _2\"></span>ndin<span class=\"_ _2\"></span>g grou<span class=\"_ _2\"></span>p to cove<span class=\"_ _2\"></span>r it<span class=\"_ _2\"></span>s exp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ted fu<span class=\"_ _2\"></span>ndi<span class=\"_ _2\"></span>ng req<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>ment<span class=\"_ _2\"></span>s an<span class=\"_ _2\"></span>d ens<span class=\"_ _2\"></span>ure a min<span class=\"_ _2\"></span>imu<span class=\"_ _2\"></span>m level o<span class=\"_ _2\"></span>f head<span class=\"_ _2\"></span>roo<span class=\"_ _2\"></span>m for at least the next 2<span class=\"_ _0\"></span>4 months. The financial strength of the Group<span class=\"_ _0\"></span>\u2019s lenders is<span class=\"_ _0\"></span> monitored regularly<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Fo<span class=\"_ _2\"></span>r ful<span class=\"_ _2\"></span>l det<span class=\"_ _2\"></span>ails o<span class=\"_ _2\"></span>f the G<span class=\"_ _2\"></span>roup\u2019s b<span class=\"_ _2\"></span>orro<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>gs an<span class=\"_ _2\"></span>d faci<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>ies<span class=\"_ _2\"></span>, see n<span class=\"_ _2\"></span>ote<span class=\"_ gs5a0\"> </span>1<span class=\"_ _2\"></span>6.1.<span class=\"_ _314\"> </span>CCPs<span class=\"_ _314\"> </span>In o<span class=\"_ _2\"></span>rder t<span class=\"_ _2\"></span>o meet t<span class=\"_ _2\"></span>he ca<span class=\"_ _2\"></span>sh req<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts of t<span class=\"_ _2\"></span>he cl<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>ing a<span class=\"_ _2\"></span>nd set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>leme<span class=\"_ _2\"></span>nt c<span class=\"_ _2\"></span>ycle<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>roup\u2019s CC<span class=\"_ _2\"></span>Ps m<span class=\"_ _2\"></span>aint<span class=\"_ _2\"></span>ain suf<span class=\"_ _2\"></span>ficient cash and<span class=\"_ _0\"></span> cash equivalent<span class=\"_ _2\"></span>s a<span class=\"_ _0\"></span>nd, in certain jurisdic<span class=\"_ _2\"></span>tions, hav<span class=\"_ _0\"></span>e access t<span class=\"_ _0\"></span>o central bank r<span class=\"_ _0\"></span>ef<span class=\"_ _2\"></span>inancing<span class=\"_ _0\"></span> or commercial<span class=\"_ _0\"></span> bank credit lines. R<span class=\"_ _0\"></span>egulations require C<span class=\"_ _0\"></span>CPs to ensure<span class=\"_ _0\"></span> that appropriate le<span class=\"_ _0\"></span>vels of back<span class=\"_ _0\"></span>-up liquidit<span class=\"_ _2\"></span>y are in<span class=\"_ _0\"></span> place to<span class=\"_ _0\"></span> underpin the dynamics of a lar<span class=\"_ _0\"></span>gely secured cash investment requir<span class=\"_ _0\"></span>ement<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> ensuring that the maximum potential<span class=\"_ _0\"></span> out<span class=\"_ _2\"></span>flow under e<span class=\"_ _0\"></span>x<span class=\"_ _2\"></span>treme<span class=\"_ _0\"></span> market c<span class=\"_ _0\"></span>ondit<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> is cover<span class=\"_ _0\"></span>ed (see c<span class=\"_ _0\"></span>redit and conc<span class=\"_ _0\"></span>entrat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> risk se<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion a<span class=\"_ _2\"></span>bove)<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>In t<span class=\"_ _2\"></span>he eve<span class=\"_ _2\"></span>nt of a m<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r defa<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>, G<span class=\"_ _2\"></span>roup CC<span class=\"_ _2\"></span>Ps c<span class=\"_ _2\"></span>an liq<span class=\"_ _2\"></span>uid<span class=\"_ _2\"></span>ate th<span class=\"_ _2\"></span>e defa<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>ing m<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er\u2019s p<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>foli<span class=\"_ _2\"></span>o to cover b<span class=\"_ _2\"></span>ot<span class=\"_ _2\"></span>h losses associated<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th the<span class=\"_ _0\"></span> default and settlement of any other<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> obligations of the defaulting member<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>In addition, cert<span class=\"_ _2\"></span>ain<span class=\"_ _0\"></span> Group companies, including<span class=\"_ _0\"></span> the CCPs, maintain commerci<span class=\"_ _0\"></span>al bank facilities which support management of<span class=\"_ _0\"></span> intraday and overnight liquidity.<span class=\"_ _314\"> </span>Custodians are<span class=\"_ _0\"></span> subject to minimum<span class=\"_ _0\"></span> eligibility requirements, ongoing cr<span class=\"_ _0\"></span>edit assessments and robust contrac<span class=\"_ _2\"></span>tual<span class=\"_ _0\"></span> arrangement<span class=\"_ _2\"></span>s. They<span class=\"_ _0\"></span> are also r<span class=\"_ _0\"></span>equired to<span class=\"_ _0\"></span> have appropriate<span class=\"_ _0\"></span> contingenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> arrangemen<span class=\"_ _2\"></span>ts in<span class=\"_ _0\"></span> place.<span class=\"_ _314\"> </span>Financial liability maturity<span class=\"_ _314\"> </span>The table below<span class=\"_ _0\"></span> analyses the Group\u2019<span class=\"_ _0\"></span>s financial liabilities into r<span class=\"_ _0\"></span>elevant maturit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> groupings based on<span class=\"_ _0\"></span> the remaining<span class=\"_ _0\"></span> period from the balance<span class=\"_ _0\"></span> sheet date<span class=\"_ _0\"></span> to the contractual maturit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> date. The<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s disclosed<span class=\"_ _0\"></span> in the table re<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>lect the contractual undiscounted<span class=\"_ _0\"></span> cash flows. <table class=\"s w8a1 h291\" id=\"_bb148fbd-a705-4321-8155-57296068e962\"><tr><td></td><td class=\"t m0 xe33 h13 y2414 ff75 fs6 fc1 sc0 ls41 ws5e\">Less tha<span class=\"_ _0\"></span>n <span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe34 h13 y2414 ff75 fs6 fc1 sc0 ls27 ws43\">Between 1 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe35 h13 y2414 ff75 fs6 fc1 sc0 ls27 ws43\">Between 2 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe36 h13 y2414 ff75 fs6 fc1 sc0 ls94 wsc1\">Over<span class=\"_ _2\"></span> <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xe37 h13 y2415 ff75 fs6 fc1 sc0 ls26 ws3\">1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></td><td class=\"t m0 xe38 h13 y2415 ff75 fs6 fc1 sc0 ls26 ws3\">and 2 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 xe39 h13 y2415 ff75 fs6 fc1 sc0 ls26 ws3\">and 5 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xe3a y2416 w8a2 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3b y2416 w52c h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _1\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2417 w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3c y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3d y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3e y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3f y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe40 y2417 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 w8a3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Borrowings (<span class=\"_ _0\"></span>excluding<span class=\"_ _0\"></span> lease liabilities)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe41 y2066 w8a4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">3<span class=\"_ _2\"></span>,264<span class=\"_ _314\"> </span></div></td><td class=\"c n xe42 y2066 w359 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">1<span class=\"_ _2\"></span>,622<span class=\"_ _314\"> </span></div></td><td class=\"c n xe43 y2066 w8a5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb0 wsdb\">3,7<span class=\"_ _2\"></span>10<span class=\"_ _314\"> </span></div></td><td class=\"c n xe44 y2066 wfd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsac wsd7\">3,816<span class=\"_ _314\"> </span></div></td><td class=\"c n xe45 y2066 w8a6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">12,412<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w666 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td class=\"c n xe46 y214c w45d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">1<span class=\"_ _2\"></span>47<span class=\"_ _314\"> </span></div></td><td class=\"c n xe47 y214c wb1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">121<span class=\"_ _314\"> </span></div></td><td class=\"c n xe48 y214c w157 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">196<span class=\"_ _314\"> </span></div></td><td class=\"c n xe49 y214c w571 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">260<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4a y214c w8a7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">7<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2075 w8a8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Current payables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4b y2075 w8a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">2,<span class=\"_ _2\"></span>230<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4c y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4d y2075 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4e y2075 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe4f y2075 w8a9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">2<span class=\"_ _2\"></span>,230<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w8aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing member liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xe50 y2068 w8ab h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsee ws55\">7<span class=\"_ _0\"></span>57<span class=\"_ _3\"></span>,444<span class=\"_ _314\"> </span></div></td><td class=\"c n xe51 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe52 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe53 y2068 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe54 y2068 w8ac h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsee ws55\">75<span class=\"_ _0\"></span>7<span class=\"_ _3\"></span>,444<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w2b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current payables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe55 y2069 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe56 y2069 w10a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">63<span class=\"_ _314\"> </span></div></td><td class=\"c n xe57 y2069 w8ad h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">319<span class=\"_ _314\"> </span></div></td><td class=\"c n xe58 y2069 w8ae h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">3<span class=\"_ _2\"></span>02<span class=\"_ _314\"> </span></div></td><td class=\"c n xe59 y2069 w8ae h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">684<span class=\"_ _314\"> </span></div></td></tr></table><table class=\"s w8af h292\" id=\"_b5a53577-b9f1-4170-9fb0-cfc2cc03c7ee\"><tr><td></td><td class=\"t m0 xe33 hb y2418 ff76 fs6 fc1 sc0 ls27 ws43\">Less than <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe5a hb y2418 ff76 fs6 fc1 sc0 lse0 ws10e\">Bet<span class=\"_ _2\"></span>ween 1 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe35 hb y2418 ff76 fs6 fc1 sc0 lse0 ws10e\">Bet<span class=\"_ _2\"></span>ween 2 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe36 hb y2418 ff76 fs6 fc1 sc0 ls4 ws3\">Ove<span class=\"_ _2\"></span>r <span class=\"_ _0\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 xe5b hb y2419 ff76 fs6 fc1 sc0 ls26 ws3\">1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5c hb y2419 ff76 fs6 fc1 sc0 ls26 ws3\">an<span class=\"_ _2\"></span>d 2 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5d hb y2419 ff76 fs6 fc1 sc0 ls26 ws3\">an<span class=\"_ _2\"></span>d 5 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xe3a y241a w8b0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xe5e y241a w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y241b w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe5f y241b w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe60 y241b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe61 y241b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe62 y241b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe63 y241b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214b w8a3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Borrowings (<span class=\"_ _0\"></span>excluding<span class=\"_ _0\"></span> lease liabilities)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe64 y214b w467 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsad wsdc\">1,66<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe65 y214b w8b1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">1,58<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe66 y214b w8b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">3<span class=\"_ _2\"></span>,42<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xe67 y214b w6eb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">3<span class=\"_ _2\"></span>,932<span class=\"_ _314\"> </span></div></td><td class=\"c n xe68 y214b w8b3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">10,6<span class=\"_ _2\"></span>03<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214c w666 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Lease li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>ies<span class=\"_ _314\"> </span></div></td><td class=\"c n xe46 y214c w523 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">158<span class=\"_ _314\"> </span></div></td><td class=\"c n xe69 y214c w52f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">113<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6a y214c w329 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">215<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6b y214c w3dc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">213<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6c y214c w257 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">699<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w8a8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Current payables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6d y213e w8b4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">1<span class=\"_ _2\"></span>,845<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6e y213e w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe6f y213e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe70 y213e w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe71 y213e w8b4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">1,8<span class=\"_ _2\"></span>45<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w8aa h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Clearing member liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xe72 y214f wf3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">692,6<span class=\"_ _2\"></span>40<span class=\"_ _314\"> </span></div></td><td class=\"c n xe73 y214f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe74 y214f w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe75 y214f w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe76 y214f w8b5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">692,6<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w2b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current payables<span class=\"_ _314\"> </span></div></td><td class=\"c n xe55 y2069 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xe77 y2069 w8b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">28<span class=\"_ _314\"> </span></div></td><td class=\"c n xe78 y2069 w8b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">335<span class=\"_ _314\"> </span></div></td><td class=\"c n xe79 y2069 w618 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">195<span class=\"_ _314\"> </span></div></td><td class=\"c n xe7a y2069 w8b8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">558<span class=\"_ _314\"> </span></div></td></tr></table>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>The table below analyses the cash<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>lows of<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> deri<span class=\"_ _2\"></span>vative financial instrument<span class=\"_ _2\"></span>s. For inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t rate swaps and<span class=\"_ _0\"></span> cross-<span class=\"_ _2\"></span>currency interest rate<span class=\"_ _0\"></span> swaps<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> for which net<span class=\"_ _0\"></span> cash f<span class=\"_ _2\"></span>lows ar<span class=\"_ _0\"></span>e exchanged, these amounts are included net<span class=\"_ _0\"></span> in the numbers below.<span class=\"_ _0\"></span> When the amount<span class=\"_ _2\"></span>s pa<span class=\"_ _0\"></span>yable or receivable are<span class=\"_ _0\"></span> based on f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>atin<span class=\"_ _2\"></span>g inte<span class=\"_ _2\"></span>rest r<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>, fu<span class=\"_ _2\"></span>ture c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s have be<span class=\"_ _2\"></span>en ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated u<span class=\"_ _2\"></span>sing E<span class=\"_ _2\"></span>STR<span class=\"_ _2\"></span>, SON<span class=\"_ _2\"></span>IA o<span class=\"_ _2\"></span>r SOF<span class=\"_ _2\"></span>R, depending on the underlying currency of the instrument<span class=\"_ _2\"></span>, at<span class=\"_ _0\"></span> the balance sheet<span class=\"_ _0\"></span> date.<span class=\"_ _314\"> </span><table class=\"s w8c4 h294\" id=\"_a11f81d7-6e1d-4c7d-8fee-95a55c0001ae\"><tr><td></td><td class=\"t m0 xe33 h13 y2420 ff75 fs6 fc1 sc0 ls41 ws5e\">Less tha<span class=\"_ _0\"></span>n <span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe5a h13 y2420 ff75 fs6 fc1 sc0 ls27 ws43\">Between 1 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe35 h13 y2420 ff75 fs6 fc1 sc0 ls27 ws43\">Between 2 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe7e h13 y2420 ff75 fs6 fc1 sc0 ls94 wsc1\">Over<span class=\"_ _2\"></span> <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td></td></tr><tr><td></td><td class=\"t m0 xe5b h13 y2421 ff75 fs6 fc1 sc0 ls26 ws3\">1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5c h13 y2421 ff75 fs6 fc1 sc0 ls26 ws3\">and 2 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5d h13 y2421 ff75 fs6 fc1 sc0 ls26 ws3\">and 5 y<span class=\"_ _2\"></span>ear<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xe3a y2351 w8a2 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xe3b y2351 w52c h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _1\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2422 w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xe91 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe92 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe93 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe94 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe95 y2422 w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2068 w8ba h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Gross inflow<span class=\"_ _314\"> </span></div></td><td class=\"c n xe96 y2068 w321 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">3,60<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xe97 y2068 w8c5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">67<span class=\"_ _314\"> </span></div></td><td class=\"c n xe98 y2068 w8c6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls21 ws8a\">9<span class=\"_ _2\"></span>61<span class=\"_ _314\"> </span></div></td><td class=\"c n xe99 y2068 w87d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls88 wsb4\">91<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9a y2068 w8c7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsb0 wsdb\">4,7<span class=\"_ _2\"></span>26<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w8be h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Gross outf<span class=\"_ _2\"></span>low<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9b y2069 w8c8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(3,543)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9c y2069 w8c9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(<span class=\"_ _2\"></span>66)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9d y2069 w8ca h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">(894)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9e y2069 w2d2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa7 wsd3\">(69)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe9f y2069 w8cb h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls91 wsbf\">(4<span class=\"_ _2\"></span>,57<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td></tr></table><table class=\"s w8b9 h293\" id=\"_9b770b09-760e-48d3-b8fb-59d1f5720b5d\"><tr><td></td><td class=\"t m0 xe7b hb y241c ff76 fs6 fc1 sc0 ls27 ws43\">Less than <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe7c hb y241c ff76 fs6 fc1 sc0 lse0 ws10e\">Bet<span class=\"_ _2\"></span>ween 1 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe7d hb y241c ff76 fs6 fc1 sc0 lse0 ws10e\">Bet<span class=\"_ _2\"></span>ween 2 <span class=\"_ _0\"></span><span class=\"ls4 ws3\"> </span></td><td class=\"t m0 xe7e hb y241c ff76 fs6 fc1 sc0 ls4 ws3\">Ove<span class=\"_ _2\"></span>r <span class=\"_ _0\"></span> </td><td></td></tr><tr><td></td><td class=\"t m0 xe5b hb y241d ff76 fs6 fc1 sc0 ls26 ws3\">1 yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></td><td class=\"t m0 xe5c hb y241d ff76 fs6 fc1 sc0 ls26 ws3\">an<span class=\"_ _2\"></span>d 2 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 xe7f hb y241d ff76 fs6 fc1 sc0 ls26 ws3\">an<span class=\"_ _2\"></span>d 5 year<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xe80 y241e w8b0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">5 yea<span class=\"_ _2\"></span>rs<span class=\"_ _314\"> </span></div></td><td class=\"c n xe81 y241e w5f0 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsfe ws146\">To<span class=\"_ _2\"></span>t<span class=\"_ _1\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y241f w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xe82 y241f w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe83 y241f w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe84 y241f w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe85 y241f w5fb h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xe86 y241f w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w8ba h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Gross inflow<span class=\"_ _314\"> </span></div></td><td class=\"c n xe87 y214f w8bb h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">3<span class=\"_ _2\"></span>,25<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xe88 y214f w8bc h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls73 ws9c\">6<span class=\"_ _2\"></span>42<span class=\"_ _314\"> </span></div></td><td class=\"c n xe89 y214f w530 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls71 ws9a\">27<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8a y214f w257 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6f ws99\">669<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8b y214f w8bd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsba wsea\">4,838<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w8be h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Gross outf<span class=\"_ _2\"></span>low<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8c y2069 w8bf h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7e wsaa\">(<span class=\"_ _2\"></span>3<span class=\"_ _2\"></span>,25<span class=\"_ _2\"></span>3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8d y2069 w8c0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws9f\">(671)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8e y2069 w8c1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls67 ws61\">(355)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe8f y2069 w8c2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">(689)<span class=\"_ _314\"> </span></div></td><td class=\"c n xe90 y2069 w8c3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>,96<span class=\"_ _2\"></span>8)<span class=\"_ _314\"> </span></div></td></tr></table>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-569": {
   "value": "Market risk<span class=\"_ _0\"></span> \u2013 foreign ex<span class=\"_ _0\"></span>change risk<span class=\"_ _314\"> </span>Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span>The Group operates<span class=\"_ _0\"></span> globally with primar<span class=\"_ _2\"></span>y cen<span class=\"_ _2\"></span>tre<span class=\"_ _2\"></span>s in th<span class=\"_ _2\"></span>e UK<span class=\"_ _2\"></span>, Euro<span class=\"_ _2\"></span>pe and N<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>h Ame<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>a. It also has<span class=\"_ _0\"></span> growing and<span class=\"_ _0\"></span> st<span class=\"_ _2\"></span>rat<span class=\"_ _0\"></span>egically impor<span class=\"_ _2\"></span>tant businesses in Asia. The<span class=\"_ _0\"></span> Group\u2019<span class=\"_ _0\"></span>s principal currencies of<span class=\"_ _0\"></span> operation are sterling, US<span class=\"_ _0\"></span> dollars<span class=\"_ _2\"></span>, and the eur<span class=\"_ _0\"></span>o.<span class=\"_ _314\"> </span>The Group is<span class=\"_ _0\"></span> exposed to<span class=\"_ _0\"></span> tr<span class=\"_ _2\"></span>ansactional foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> risk and translational<span class=\"_ _0\"></span> risk. T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>al ris<span class=\"_ _2\"></span>k ari<span class=\"_ _2\"></span>ses w<span class=\"_ _2\"></span>hen we b<span class=\"_ _2\"></span>uy or s<span class=\"_ _2\"></span>ell goods or services in a<span class=\"_ _0\"></span> currenc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> other than an entit<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tional curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. W<span class=\"_ _0\"></span>e may be exposed to<span class=\"_ _0\"></span> movements in that currency<span class=\"_ _0\"></span>. T<span class=\"_ _0\"></span>ranslational<span class=\"_ _0\"></span> risk arises from<span class=\"_ _0\"></span> the translation of balanc<span class=\"_ _0\"></span>es recorded in<span class=\"_ _0\"></span> an entit<span class=\"_ _2\"></span>y\u2019s<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tional currency into the<span class=\"_ _0\"></span> Group\u2019s<span class=\"_ _0\"></span> repor<span class=\"_ _2\"></span>ting currency for t<span class=\"_ _2\"></span>he pu<span class=\"_ _2\"></span>rpo<span class=\"_ _2\"></span>se of s<span class=\"_ _2\"></span>tat<span class=\"_ _2\"></span>utor<span class=\"_ _2\"></span>y r<span class=\"_ _2\"></span>epor<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>ransactional fore<span class=\"_ _0\"></span>ign exch<span class=\"_ _0\"></span>ange risk may<span class=\"_ _0\"></span> pre<span class=\"_ _2\"></span>sen<span class=\"_ _2\"></span>t it<span class=\"_ _2\"></span>sel<span class=\"_ _2\"></span>f in th<span class=\"_ _2\"></span>e pay<span class=\"_ _2\"></span>ment o<span class=\"_ _2\"></span>f int<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>roup transac<span class=\"_ _2\"></span>tions or<span class=\"_ _0\"></span> when interest obligations, which are<span class=\"_ _0\"></span> in a different currency<span class=\"_ _0\"></span>, are<span class=\"_ _0\"></span> due.<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>ransactional fore<span class=\"_ _0\"></span>ign exch<span class=\"_ _0\"></span>ange risk may<span class=\"_ _0\"></span> al<span class=\"_ _2\"></span>so ari<span class=\"_ _2\"></span>se wh<span class=\"_ _2\"></span>en in<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g in, or d<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ing f<span class=\"_ _2\"></span>rom,<span class=\"_ _2\"></span> operations denominated in<span class=\"_ _0\"></span> currencies other than sterling.<span class=\"_ _314\"> </span>In addition, the Group<span class=\"_ _0\"></span> has some c<span class=\"_ _0\"></span>ontrac<span class=\"_ _2\"></span>ts/<span class=\"_ _314\"> </span>ca<span class=\"_ _2\"></span>sh f<span class=\"_ _2\"></span>low pr<span class=\"_ _2\"></span>of<span class=\"_ _2\"></span>iles w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h a forei<span class=\"_ _2\"></span>gn exch<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>e component that c<span class=\"_ _0\"></span>ould trigger embedded derivative recognition and, as<span class=\"_ _0\"></span> such, fair value accounting<span class=\"_ _0\"></span> treatment<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>ranslational risk<span class=\"_ _314\"> </span>The Group man<span class=\"_ _0\"></span>ages it<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> translat<span class=\"_ _2\"></span>ional<span class=\"_ _0\"></span> risk, where possible, by<span class=\"_ _0\"></span> matching the curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> of its debt to<span class=\"_ _0\"></span> the currency of i<span class=\"_ _2\"></span>ts ea<span class=\"_ _2\"></span>rni<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>, to make s<span class=\"_ _2\"></span>ure cer<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ain key f<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>anci<span class=\"_ _2\"></span>al met<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>s are p<span class=\"_ _2\"></span>rote<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d fro<span class=\"_ _2\"></span>m mater<span class=\"_ _2\"></span>ial fo<span class=\"_ _2\"></span>reig<span class=\"_ _2\"></span>n exchan<span class=\"_ _2\"></span>ge ra<span class=\"_ _2\"></span>te volatilit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. The<span class=\"_ _0\"></span> Group also seeks to<span class=\"_ _0\"></span> balance the curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y o<span class=\"_ _0\"></span>f its asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>th its liabilities. In order<span class=\"_ _0\"></span> to mitigate the impact of unfavourable<span class=\"_ _0\"></span> currency exchange rat<span class=\"_ _0\"></span>e movements on earnings and<span class=\"_ _0\"></span> net assets, non-<span class=\"_ _2\"></span>sterling cash earnings ar<span class=\"_ _0\"></span>e centralised and applied t<span class=\"_ _0\"></span>o debt and<span class=\"_ _0\"></span> interest payments in the same curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Where required, curr<span class=\"_ _0\"></span>enc<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> of debt is<span class=\"_ _0\"></span> re-<span class=\"_ _2\"></span>balanced usi<span class=\"_ _0\"></span>ng cross-<span class=\"_ _2\"></span>currency int<span class=\"_ _0\"></span>erest rate swaps to<span class=\"_ _0\"></span> bet<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>er match the currency of debt<span class=\"_ _0\"></span> to the ov<span class=\"_ _0\"></span>erall currency of earnings.<span class=\"_ _314\"> </span>A mat<span class=\"_ _2\"></span>eria<span class=\"_ _2\"></span>l prop<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on of t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s de<span class=\"_ _2\"></span>bt is he<span class=\"_ _2\"></span>ld in o<span class=\"_ _2\"></span>r swa<span class=\"_ _2\"></span>ppe<span class=\"_ _2\"></span>d into eu<span class=\"_ _2\"></span>ros an<span class=\"_ _2\"></span>d US do<span class=\"_ _2\"></span>llar<span class=\"_ _2\"></span>s (se<span class=\"_ _2\"></span>e the t<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e show<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span> th<span class=\"_ _2\"></span>e cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y of bo<span class=\"_ _2\"></span>rrow<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>s in no<span class=\"_ _2\"></span>te<span class=\"_ gs5a0\"> </span>16<span class=\"_ _2\"></span>.1). A p<span class=\"_ _2\"></span>ropo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of the e<span class=\"_ _2\"></span>uro de<span class=\"_ _2\"></span>nom<span class=\"_ _2\"></span>inate<span class=\"_ _2\"></span>d deb<span class=\"_ _2\"></span>t and cr<span class=\"_ _2\"></span>oss<span class=\"_ _2\"></span>-c<span class=\"_ _2\"></span>urre<span class=\"_ _2\"></span>nc<span class=\"_ _2\"></span>y in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>e swa<span class=\"_ _2\"></span>ps pro<span class=\"_ _2\"></span>vid<span class=\"_ _2\"></span>e a hed<span class=\"_ _2\"></span>ge aga<span class=\"_ _2\"></span>ins<span class=\"_ _2\"></span>t th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s net in<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>tme<span class=\"_ _2\"></span>nt in eu<span class=\"_ _2\"></span>ro and U<span class=\"_ _2\"></span>S dol<span class=\"_ _2\"></span>lar op<span class=\"_ _2\"></span>era<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns.<span class=\"_ _314\"> </span>In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 2025, th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up is<span class=\"_ _2\"></span>sued a C<span class=\"_ _2\"></span>HF<span class=\"_ _2\"></span>150 mi<span class=\"_ _2\"></span>lli<span class=\"_ _2\"></span>on f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nd an<span class=\"_ _2\"></span>d JPY40 bil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n of f<span class=\"_ _2\"></span>ixed r<span class=\"_ _2\"></span>ate bo<span class=\"_ _2\"></span>nds (s<span class=\"_ _2\"></span>ee not<span class=\"_ _2\"></span>e 16)<span class=\"_ _2\"></span>. Thes<span class=\"_ _2\"></span>e bon<span class=\"_ _2\"></span>ds hav<span class=\"_ _2\"></span>e bee<span class=\"_ _2\"></span>n desi<span class=\"_ _2\"></span>gnat<span class=\"_ _2\"></span>ed as he<span class=\"_ _2\"></span>dgi<span class=\"_ _2\"></span>ng in<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>rum<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s in t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s net i<span class=\"_ _2\"></span>nves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent in S<span class=\"_ _2\"></span>wis<span class=\"_ _2\"></span>s Franc and Japanese<span class=\"_ _0\"></span> Y<span class=\"_ _0\"></span>en r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting subsidiaries.<span class=\"_ _314\"> </span>At 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 2025, th<span class=\"_ _2\"></span>e Gro<span class=\"_ _2\"></span>up\u2019s desi<span class=\"_ _2\"></span>gna<span class=\"_ _2\"></span>ted he<span class=\"_ _2\"></span>dge<span class=\"_ _2\"></span>s of it<span class=\"_ _2\"></span>s net i<span class=\"_ _2\"></span>nves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s were e<span class=\"_ _2\"></span>ff<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve.<span class=\"_ _314\"> </span>T<span class=\"_ _0\"></span>ransactional risk<span class=\"_ _314\"> </span>While transac<span class=\"_ _2\"></span>tional<span class=\"_ _0\"></span> foreign ex<span class=\"_ _0\"></span>change exposure<span class=\"_ _0\"></span> is limited, the Group<span class=\"_ _0\"></span> mit<span class=\"_ _2\"></span>igat<span class=\"_ _0\"></span>es this by e<span class=\"_ _0\"></span>it<span class=\"_ _2\"></span>her<span class=\"_ _0\"></span> hedging material transactions wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> appropriate derivative instrument<span class=\"_ _2\"></span>s or<span class=\"_ _0\"></span> by settling currency payables or rec<span class=\"_ _0\"></span>eivables within a short timeframe. The Group<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>reasury Policy requires net<span class=\"_ _0\"></span> balance sheet<span class=\"_ _0\"></span> positions over \u00a32 million or e<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>val<span class=\"_ _2\"></span>ent to b<span class=\"_ _2\"></span>e hed<span class=\"_ _2\"></span>ged<span class=\"_ _2\"></span>. The r<span class=\"_ _2\"></span>isk is a<span class=\"_ _2\"></span>lso m<span class=\"_ _2\"></span>inim<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d by the p<span class=\"_ _2\"></span>eri<span class=\"_ _2\"></span>odi<span class=\"_ _2\"></span>c exchan<span class=\"_ _2\"></span>ge of c<span class=\"_ _2\"></span>ash in<span class=\"_ _2\"></span>to eac<span class=\"_ _2\"></span>h Gro<span class=\"_ _2\"></span>up entit<span class=\"_ _2\"></span>y\u2019s functional currency.<span class=\"_ _0\"></span> Where appropriate,<span class=\"_ _0\"></span> hedge accounting f<span class=\"_ _0\"></span>or debt and derivatives is<span class=\"_ _0\"></span> considered in o<span class=\"_ _2\"></span>rder to m<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>igate m<span class=\"_ _2\"></span>ater<span class=\"_ _2\"></span>ial l<span class=\"_ _2\"></span>evels o<span class=\"_ _2\"></span>f inco<span class=\"_ _2\"></span>me s<span class=\"_ _2\"></span>tate<span class=\"_ _2\"></span>ment v<span class=\"_ _2\"></span>olat<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Sensitivit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span>In a<span class=\"_ _2\"></span>ddi<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n to pro<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ng an<span class=\"_ _2\"></span>d anal<span class=\"_ _2\"></span>ysi<span class=\"_ _2\"></span>ng it<span class=\"_ _2\"></span>s ea<span class=\"_ _2\"></span>rni<span class=\"_ _2\"></span>ngs an<span class=\"_ _2\"></span>d deb<span class=\"_ _2\"></span>t prof<span class=\"_ _2\"></span>il<span class=\"_ _2\"></span>e by cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y, the G<span class=\"_ _2\"></span>roup r<span class=\"_ _2\"></span>evie<span class=\"_ _2\"></span>ws sensitiv<span class=\"_ _2\"></span>ities to<span class=\"_ _0\"></span> movements in ex<span class=\"_ _0\"></span>change rates. The<span class=\"_ _0\"></span> Group has consider<span class=\"_ _0\"></span>ed movements in the eur<span class=\"_ _0\"></span>o and the US d<span class=\"_ _2\"></span>olla<span class=\"_ _2\"></span>r over 2025 an<span class=\"_ _2\"></span>d 202<span class=\"_ _0\"></span>4 an<span class=\"_ _2\"></span>d, ba<span class=\"_ _2\"></span>sed on a<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual m<span class=\"_ _2\"></span>arket o<span class=\"_ _2\"></span>bser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ons b<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>ween i<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s pri<span class=\"_ _2\"></span>ncip<span class=\"_ _2\"></span>al cur<span class=\"_ _2\"></span>renc<span class=\"_ _2\"></span>y pa<span class=\"_ _2\"></span>irs<span class=\"_ _2\"></span>, has co<span class=\"_ _2\"></span>nclu<span class=\"_ _2\"></span>ded t<span class=\"_ _2\"></span>hat a 1<span class=\"_ _2\"></span>0% m<span class=\"_ _2\"></span>ovem<span class=\"_ _2\"></span>ent in r<span class=\"_ _2\"></span>ates i<span class=\"_ _2\"></span>s a reas<span class=\"_ _2\"></span>onab<span class=\"_ _2\"></span>le le<span class=\"_ _2\"></span>vel to il<span class=\"_ _2\"></span>lus<span class=\"_ _2\"></span>tr<span class=\"_ _2\"></span>ate t<span class=\"_ _2\"></span>he ris<span class=\"_ _2\"></span>k to th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p. Th<span class=\"_ _2\"></span>e impa<span class=\"_ _2\"></span>ct o<span class=\"_ _2\"></span>n prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t af<span class=\"_ _2\"></span>ter ta<span class=\"_ _2\"></span>x and e<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y is set o<span class=\"_ _2\"></span>ut in t<span class=\"_ _2\"></span>he t<span class=\"_ _2\"></span>able b<span class=\"_ _2\"></span>elo<span class=\"_ _2\"></span>w:<span class=\"_ _314\"> </span><table class=\"s w8cc h295\" id=\"_a552a96e-da24-454b-b27d-c90b799a21d1\"><tr><td></td><td></td><td class=\"c n xea0 y2423 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xea1 y2423 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xea2 h13 y2424 ff75 fs6 fc1 sc0 lse0 ws110\">Profit </td><td></td><td class=\"t m0 xe36 hb y2424 ff76 fs6 fc1 sc0 ls4 ws3\">Prof<span class=\"_ _2\"></span>it </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xe5a h13 y2425 ff75 fs6 fc1 sc0 ls77 wsa3\">after tax<span class=\"_ _314\"> </span></td><td class=\"t m0 xea3 h13 y2425 ff75 fs6 fc1 sc0 lse5 ws125\">Equity<span class=\"_ _314\"> </span></td><td class=\"t m0 xea4 hb y2425 ff76 fs6 fc1 sc0 ls26 ws3\">af<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>r tax<span class=\"_ _314\"> </span></td><td class=\"t m0 xea5 hb y2425 ff76 fs6 fc1 sc0 ls41 ws56\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></td></tr><tr><td></td><td></td><td class=\"t m0 xea6 h13 y2426 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 xea7 h13 y2426 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 xea8 hb y2426 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 xea9 hb y2426 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y22e2 w70a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">Euro<span class=\"_ _314\"> </span></div></td><td class=\"c n xeaa y22e2 w8cd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Sterling weak<span class=\"_ _0\"></span>ens<span class=\"_ _314\"> </span></div></td><td class=\"c n xeab y22e2 w33a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls8 ws5\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xeac y22e2 w8ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">(57<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xead y22e2 w33d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wsda\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xeae y22e2 w8cf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">(66)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xeaf y22e3 w8d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Sterling strengthens<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb0 y22e3 w419 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(16)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb1 y22e3 w95 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">53<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb2 y22e3 w8d1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(16)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb3 y22e3 w8d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">60<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e4 w711 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">US dollar<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb4 y22e4 w8d3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Sterling w<span class=\"_ _0\"></span>eakens<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb5 y22e4 w8d4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">26<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb6 y22e4 w8d5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(18<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb7 y22e4 w8d6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wsda\">18<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb8 y22e4 w8d7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls70 ws76\">(19)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n xeaf y2069 w8d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Sterling strengthens<span class=\"_ _314\"> </span></div></td><td class=\"c n xeb9 y2069 w192 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">(23)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeba y2069 w639 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">16<span class=\"_ _314\"> </span></div></td><td class=\"c n xebb y2427 w8d1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">(16)<span class=\"_ _314\"> </span></div></td><td class=\"c n xebc y2427 w7c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">7<span class=\"_ _314\"> </span></div></td></tr></table>Th<span class=\"_ _2\"></span>e sens<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ivi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y of pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t af<span class=\"_ _2\"></span>ter t<span class=\"_ _2\"></span>ax ref<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s fo<span class=\"_ _2\"></span>reign e<span class=\"_ _2\"></span>xchan<span class=\"_ _2\"></span>ge gai<span class=\"_ _2\"></span>ns or l<span class=\"_ _2\"></span>oss<span class=\"_ _2\"></span>es on t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>slat<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f fi<span class=\"_ _2\"></span>nanc<span class=\"_ _2\"></span>ial as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s and financial liabilities, including cash<span class=\"_ _0\"></span> and borrowings but e<span class=\"_ _0\"></span>xcluding hedged balances.<span class=\"_ _314\"> </span>Th<span class=\"_ _2\"></span>e sens<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ivi<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y of eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y ma<span class=\"_ _2\"></span>inl<span class=\"_ _2\"></span>y ref<span class=\"_ _2\"></span>lec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s the f<span class=\"_ _2\"></span>oreig<span class=\"_ _2\"></span>n excha<span class=\"_ _2\"></span>nge ga<span class=\"_ _2\"></span>ins o<span class=\"_ _2\"></span>r los<span class=\"_ _2\"></span>ses on t<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>nsla<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n of eur<span class=\"_ _2\"></span>o borrowings and derivative financial instrument<span class=\"_ _2\"></span>s that<span class=\"_ _0\"></span> have been design<span class=\"_ _0\"></span>ated as hedges o<span class=\"_ _0\"></span>f a net<span class=\"_ _0\"></span> invest<span class=\"_ _2\"></span>ment in f<span class=\"_ _0\"></span>oreign operations.<span class=\"_ _314\"> </span><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls22 ws3 gs691\">Mar<span class=\"_ _2\"></span>ket risk \u2013 i<span class=\"_ _2\"></span>nteres<span class=\"_ _2\"></span>t rate ri<span class=\"_ _2\"></span>sk<span class=\"_ _314\"> </span></div><div class=\"t m0 h13 ff75 fs6 fc1 sc0 lse5 ws75 gs692\">Risk description<span class=\"_ _13c\"> </span><span class=\"ls27 ws43\">Risk management approach<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs693\">The Group\u2019<span class=\"_ _0\"></span>s inter<span class=\"_ _0\"></span>est rate risk arises<span class=\"_ _0\"></span> from the </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs694\">im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t of cha<span class=\"_ _2\"></span>nge<span class=\"_ _2\"></span>s in in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>es on c<span class=\"_ _2\"></span>ash </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs695\">held and in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ments in financial assets, </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs696\">an<span class=\"_ _2\"></span>d on bor<span class=\"_ _2\"></span>row<span class=\"_ _2\"></span>ings h<span class=\"_ _2\"></span>eld a<span class=\"_ _2\"></span>t fl<span class=\"_ _2\"></span>oat<span class=\"_ _2\"></span>ing r<span class=\"_ _2\"></span>ates<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs697\">The Group ma<span class=\"_ _0\"></span>y also face<span class=\"_ _0\"></span> future interest rate<span class=\"_ _0\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs698\">exposure c<span class=\"_ _0\"></span>onnec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> to M&amp;A trans<span class=\"_ _2\"></span>actions </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs699\">where significant debt financing is in<span class=\"_ _0\"></span>volved.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs69a\">The Group\u2019<span class=\"_ _0\"></span>s CCPs h<span class=\"_ _0\"></span>ave member liabilities, </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls76 ws5 gs69b\">and separately achieve<span class=\"_ _0\"></span> returns which support </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs69c\">the payment of<span class=\"_ _0\"></span> these liabilities. A CCP\u2019s </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs69d\">interest rate<span class=\"_ _0\"></span> risk can incre<span class=\"_ _0\"></span>ase if the ref<span class=\"_ _0\"></span>erence </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls76 ws5 gs69e\">rates used t<span class=\"_ _0\"></span>o calculate liabilities increase<span class=\"_ _0\"></span> while </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs69f\">the ref<span class=\"_ _0\"></span>erence rates<span class=\"_ _0\"></span> that underpin investment </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6a0\">ret<span class=\"_ _2\"></span>urns d<span class=\"_ _2\"></span>ecre<span class=\"_ _2\"></span>ase (o<span class=\"_ _2\"></span>r do not i<span class=\"_ _2\"></span>ncre<span class=\"_ _2\"></span>ase by t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6a1\">same amount).<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6a2\">Group companies<span class=\"_ _0\"></span> that of<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>er guaranteed </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6a3\">sett<span class=\"_ _2\"></span>lement<span class=\"_ _0\"></span> of traded securities can also </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6a4\">be ex<span class=\"_ _2\"></span>pos<span class=\"_ _2\"></span>ed to la<span class=\"_ _2\"></span>tent i<span class=\"_ _2\"></span>ntere<span class=\"_ _2\"></span>st r<span class=\"_ _2\"></span>ate ri<span class=\"_ _2\"></span>sk (and<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6a5\">mar<span class=\"_ _2\"></span>ket ri<span class=\"_ _2\"></span>sk mor<span class=\"_ _2\"></span>e gene<span class=\"_ _2\"></span>ral<span class=\"_ _2\"></span>ly<span class=\"_ _2\"></span>) in th<span class=\"_ _2\"></span>e even<span class=\"_ _2\"></span>t of </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6a6\">a count<span class=\"_ _0\"></span>erpar<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> default<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6a7\">Th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p\u2019s inter<span class=\"_ _2\"></span>est r<span class=\"_ _2\"></span>ate ma<span class=\"_ _2\"></span>nag<span class=\"_ _2\"></span>emen<span class=\"_ _2\"></span>t pol<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>y focu<span class=\"_ _2\"></span>ses on p<span class=\"_ _2\"></span>rote<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup\u2019s cre<span class=\"_ _2\"></span>di<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>ing an<span class=\"_ _2\"></span>d lim<span class=\"_ _2\"></span>iti<span class=\"_ _2\"></span>ng t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6a8\">im<span class=\"_ _2\"></span>pac<span class=\"_ _2\"></span>t of in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t ra<span class=\"_ _2\"></span>te chan<span class=\"_ _2\"></span>ges o<span class=\"_ _2\"></span>n Gro<span class=\"_ _2\"></span>up ear<span class=\"_ _2\"></span>nin<span class=\"_ _2\"></span>gs. T<span class=\"_ _0\"></span>o su<span class=\"_ _2\"></span>ppo<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>t thi<span class=\"_ _2\"></span>s obje<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>tiv<span class=\"_ _2\"></span>e, th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p mon<span class=\"_ _2\"></span>itor<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e imp<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>t </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6a9\">of ch<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>es in key in<span class=\"_ _2\"></span>tere<span class=\"_ _2\"></span>st ra<span class=\"_ _2\"></span>tes on t<span class=\"_ _2\"></span>he an<span class=\"_ _2\"></span>nua<span class=\"_ _2\"></span>lise<span class=\"_ _2\"></span>d net f<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>nce co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s and m<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>tain<span class=\"_ _2\"></span>s a max<span class=\"_ _2\"></span>imu<span class=\"_ _2\"></span>m debt f<span class=\"_ _2\"></span>l<span class=\"_ _2\"></span>oat<span class=\"_ _2\"></span>ing </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls89 wsda gs6aa\">rate c<span class=\"_ _0\"></span>omponent of 50%. This appr<span class=\"_ _0\"></span>oach reflect<span class=\"_ _2\"></span>s:</div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls4 ws3 gs6ab\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">a fo<span class=\"_ _2\"></span>cus o<span class=\"_ _2\"></span>n the G<span class=\"_ _2\"></span>roup\u2019s co<span class=\"_ _2\"></span>st of g<span class=\"_ _2\"></span>ros<span class=\"_ _2\"></span>s debt r<span class=\"_ _2\"></span>ath<span class=\"_ _2\"></span>er t<span class=\"_ _2\"></span>han it<span class=\"_ _2\"></span>s ne<span class=\"_ _2\"></span>t debt g<span class=\"_ _2\"></span>ive<span class=\"_ _2\"></span>n the m<span class=\"_ _2\"></span>ater<span class=\"_ _2\"></span>ial c<span class=\"_ _2\"></span>ash an<span class=\"_ _2\"></span>d cas<span class=\"_ _2\"></span>h </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6ac\">equivalent<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> set aside for<span class=\"_ _0\"></span> regulatory purposes;</div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls4 ws3 gs6ad\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6c ws7e\">the shor<span class=\"_ _2\"></span>t duration al<span class=\"_ _0\"></span>lowed for in<span class=\"_ _0\"></span>vest<span class=\"_ _2\"></span>ments of<span class=\"_ _0\"></span> cash and cash equivalents held for<span class=\"_ _0\"></span> regulator<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> purposes </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6ae\">wh<span class=\"_ _2\"></span>ich, b<span class=\"_ _2\"></span>y the<span class=\"_ _2\"></span>ir nat<span class=\"_ _2\"></span>ure, g<span class=\"_ _2\"></span>ener<span class=\"_ _2\"></span>ate lo<span class=\"_ _2\"></span>w inve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ment y<span class=\"_ _2\"></span>ie<span class=\"_ _2\"></span>lds; a<span class=\"_ _2\"></span>nd</div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls4 ws3 gs6af\"> <span class=\"_ _df\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls6a\">t<span class=\"_ _2\"></span>he bro<span class=\"_ _2\"></span>ad na<span class=\"_ _2\"></span>tura<span class=\"_ _2\"></span>l hed<span class=\"_ _2\"></span>ge of f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng rat<span class=\"_ _2\"></span>e bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs p<span class=\"_ _2\"></span>rovi<span class=\"_ _2\"></span>ded by t<span class=\"_ _2\"></span>he si<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>can<span class=\"_ _2\"></span>t bala<span class=\"_ _2\"></span>nces o<span class=\"_ _2\"></span>f cas<span class=\"_ _2\"></span>h and c<span class=\"_ _2\"></span>ash </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6b0\">equivalent<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> held effec<span class=\"_ _2\"></span>tively at floating rates of<span class=\"_ _0\"></span> interest.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6b1\">At 3<span class=\"_ _2\"></span>1 Dec<span class=\"_ _2\"></span>embe<span class=\"_ _2\"></span>r 2025, th<span class=\"_ _2\"></span>e fl<span class=\"_ _2\"></span>oat<span class=\"_ _2\"></span>ing r<span class=\"_ _2\"></span>ate co<span class=\"_ _2\"></span>mpon<span class=\"_ _2\"></span>ent o<span class=\"_ _2\"></span>f tota<span class=\"_ _2\"></span>l debt w<span class=\"_ _2\"></span>as 40<span class=\"_ _2\"></span>% (2024: 30<span class=\"_ _2\"></span>%).<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6b2\">Wh<span class=\"_ _2\"></span>ere t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up has c<span class=\"_ _2\"></span>omm<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ted to M<span class=\"_ _2\"></span>&amp;<span class=\"_ _2\"></span>A tra<span class=\"_ _2\"></span>nsa<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>s and i<span class=\"_ _2\"></span>s expo<span class=\"_ _2\"></span>sed to p<span class=\"_ _2\"></span>rosp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>e risk o<span class=\"_ _2\"></span>n </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6b3\">borrowings, the Group T<span class=\"_ _3\"></span>reasur<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> func<span class=\"_ _2\"></span>tion will<span class=\"_ _0\"></span> assess the exposure and<span class=\"_ _0\"></span> consider hedging solutions that </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6b4\">con<span class=\"_ _2\"></span>form w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h pol<span class=\"_ _2\"></span>ic<span class=\"_ _2\"></span>y and se<span class=\"_ _2\"></span>ek to li<span class=\"_ _2\"></span>mit f<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ure int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t cos<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6b5\">In the Group<span class=\"_ _0\"></span>\u2019s CCPs, int<span class=\"_ _0\"></span>erest-<span class=\"_ _2\"></span>bearing assets ar<span class=\"_ _0\"></span>e generally invested in<span class=\"_ _0\"></span> secured instrument<span class=\"_ _2\"></span>s or<span class=\"_ _0\"></span> st<span class=\"_ _2\"></span>ructures </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6b6\">and for<span class=\"_ _0\"></span> a longer term<span class=\"_ _0\"></span> than interest-bearing liabilities, whose interest rat<span class=\"_ _0\"></span>e is reset<span class=\"_ _0\"></span> daily.<span class=\"_ _0\"></span> This makes<span class=\"_ _0\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6b7\">investment returns vulnerable t<span class=\"_ _0\"></span>o volatilit<span class=\"_ _2\"></span>y in<span class=\"_ _0\"></span> overnight rates<span class=\"_ _0\"></span> and shif<span class=\"_ _2\"></span>ts in<span class=\"_ _0\"></span> spreads between overnight and </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6b8\">ter<span class=\"_ _2\"></span>m rate<span class=\"_ _2\"></span>s. In<span class=\"_ _2\"></span>tere<span class=\"_ _2\"></span>st r<span class=\"_ _2\"></span>ate exp<span class=\"_ _2\"></span>osu<span class=\"_ _2\"></span>res (and t<span class=\"_ _2\"></span>he r<span class=\"_ _2\"></span>isk to CC<span class=\"_ _2\"></span>P cap<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>al) a<span class=\"_ _2\"></span>re mana<span class=\"_ _2\"></span>ged w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>hin de<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ned r<span class=\"_ _2\"></span>isk ap<span class=\"_ _2\"></span>pet<span class=\"_ _2\"></span>ite<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls76 ws5 gs6b9\">parameters against which sensitiv<span class=\"_ _2\"></span>ities are<span class=\"_ _0\"></span> monitored daily.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6ba\">In its review of<span class=\"_ _0\"></span> the sensitiv<span class=\"_ _2\"></span>ities to<span class=\"_ _0\"></span> potential movements in i<span class=\"_ _0\"></span>nterest rates, the Group<span class=\"_ _0\"></span> has considered<span class=\"_ _0\"></span> interest </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6bb\">ra<span class=\"_ _2\"></span>te vola<span class=\"_ _2\"></span>til<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y ove<span class=\"_ _2\"></span>r the l<span class=\"_ _2\"></span>ast y<span class=\"_ _2\"></span>ear an<span class=\"_ _2\"></span>d pros<span class=\"_ _2\"></span>pec<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s for r<span class=\"_ _2\"></span>ates ov<span class=\"_ _2\"></span>er th<span class=\"_ _2\"></span>e nex<span class=\"_ _2\"></span>t 12 mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>s. I<span class=\"_ _2\"></span>t has con<span class=\"_ _2\"></span>clu<span class=\"_ _2\"></span>ded t<span class=\"_ _2\"></span>hat a </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6bc\">one percentage<span class=\"_ _0\"></span> point downward movement<span class=\"_ _0\"></span> (wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> a limited prospect of m<span class=\"_ _0\"></span>aterial upward<span class=\"_ _0\"></span> movement) reflec<span class=\"_ _2\"></span>ts </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6bd\">a rea<span class=\"_ _2\"></span>sona<span class=\"_ _2\"></span>ble l<span class=\"_ _2\"></span>evel of r<span class=\"_ _2\"></span>isk to c<span class=\"_ _2\"></span>urre<span class=\"_ _2\"></span>nt ra<span class=\"_ _2\"></span>tes. I<span class=\"_ _2\"></span>f int<span class=\"_ _2\"></span>eres<span class=\"_ _2\"></span>t rat<span class=\"_ _2\"></span>es on c<span class=\"_ _2\"></span>ash an<span class=\"_ _2\"></span>d cas<span class=\"_ _2\"></span>h equ<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>lent<span class=\"_ _2\"></span>s<span class=\"_ _2\"></span>, bor<span class=\"_ _2\"></span>rowi<span class=\"_ _2\"></span>ngs an<span class=\"_ _2\"></span>d </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6be\">derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments had been<span class=\"_ _0\"></span> one percentage point<span class=\"_ _0\"></span> lower<span class=\"_ _0\"></span>, with all other variables held<span class=\"_ _0\"></span> constant<span class=\"_ _2\"></span>, </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6bf\">pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t af<span class=\"_ _2\"></span>ter t<span class=\"_ _2\"></span>ax for 2<span class=\"_ _2\"></span>02<span class=\"_ _0\"></span>5 wo<span class=\"_ _2\"></span>uld h<span class=\"_ _2\"></span>ave be<span class=\"_ _2\"></span>en \u00a34 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n high<span class=\"_ _2\"></span>er (2024: \u00a35 m<span class=\"_ _2\"></span>illi<span class=\"_ _2\"></span>on low<span class=\"_ _2\"></span>er) ma<span class=\"_ _2\"></span>inl<span class=\"_ _2\"></span>y as a res<span class=\"_ _2\"></span>ult o<span class=\"_ _2\"></span>f lowe<span class=\"_ _2\"></span>r </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6c0\">in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t exp<span class=\"_ _2\"></span>ens<span class=\"_ _2\"></span>e on f<span class=\"_ _2\"></span>loat<span class=\"_ _2\"></span>in<span class=\"_ _2\"></span>g rate b<span class=\"_ _2\"></span>orro<span class=\"_ _2\"></span>win<span class=\"_ _2\"></span>gs, p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>tia<span class=\"_ _2\"></span>lly o<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>fse<span class=\"_ _2\"></span>t by lowe<span class=\"_ _2\"></span>r inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t inco<span class=\"_ _2\"></span>me on f<span class=\"_ _2\"></span>lo<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>ng rat<span class=\"_ _2\"></span>e cash<span class=\"_ _2\"></span> </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6c1\">and cash equivalents.<span class=\"_ _314\"> </span></div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6c2\">At t<span class=\"_ _2\"></span>he CCP l<span class=\"_ _2\"></span>evel (<span class=\"_ _2\"></span>in ag<span class=\"_ _2\"></span>greg<span class=\"_ _2\"></span>ate), i<span class=\"_ _2\"></span>f inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t rate<span class=\"_ _2\"></span>s on th<span class=\"_ _2\"></span>e com<span class=\"_ _2\"></span>mon in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t-<span class=\"_ _2\"></span>bea<span class=\"_ _2\"></span>rin<span class=\"_ _2\"></span>g mem<span class=\"_ _2\"></span>ber li<span class=\"_ _2\"></span>abil<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6a ws3 gs6c3\">be<span class=\"_ _2\"></span>nchm<span class=\"_ _2\"></span>ark<span class=\"_ _2\"></span>s of EO<span class=\"_ _2\"></span>NI<span class=\"_ _2\"></span>A<span class=\"_ _2\"></span>, Fed F<span class=\"_ _2\"></span>unds a<span class=\"_ _2\"></span>nd SO<span class=\"_ _2\"></span>NI<span class=\"_ _2\"></span>A (fo<span class=\"_ _2\"></span>r euro, U<span class=\"_ _2\"></span>S doll<span class=\"_ _2\"></span>ar an<span class=\"_ _2\"></span>d ste<span class=\"_ _2\"></span>rlin<span class=\"_ _2\"></span>g liab<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>tie<span class=\"_ _2\"></span>s resp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vel<span class=\"_ _2\"></span>y) ha<span class=\"_ _2\"></span>d </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6c4\">been one per<span class=\"_ _0\"></span>centage point lower<span class=\"_ _0\"></span>, with all<span class=\"_ _0\"></span> other variables held constant, the Group\u2019<span class=\"_ _0\"></span>s profit af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> tax would </div><div class=\"t m0 h193 ff76 fs129 fc1 sc0 ls6c ws7e gs6c5\">have been<span class=\"_ _0\"></span> \u00a31 million higher<span class=\"_ _0\"></span> (202<span class=\"_ _0\"></span>4:<span class=\"_ _0\"></span> \u00a31 million)<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span></div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-570": {
   "value": "<div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls2 ws2 gs6c7\">17<span class=\"_ _3\"></span>.6 Of<span class=\"_ _2\"></span>fsetting f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s a<span class=\"_ _0\"></span>nd f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span></div>Accounting policy<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ts f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> on a net basis on the balanc<span class=\"_ _0\"></span>e sheet where<span class=\"_ _0\"></span> there is a legally enf<span class=\"_ _0\"></span>orceable right to o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset the recognised amounts and there<span class=\"_ _0\"></span> is an intention to set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>le on a n<span class=\"_ _2\"></span>et basi<span class=\"_ _2\"></span>s, or to r<span class=\"_ _2\"></span>ealis<span class=\"_ _2\"></span>e the a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d set<span class=\"_ _2\"></span>tl<span class=\"_ _2\"></span>e the<span class=\"_ _2\"></span> liabilities simultaneousl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p appl<span class=\"_ _2\"></span>ies t<span class=\"_ _2\"></span>he rul<span class=\"_ _2\"></span>es of le<span class=\"_ _2\"></span>gal r<span class=\"_ _2\"></span>ight o<span class=\"_ _2\"></span>f set of<span class=\"_ _2\"></span>f an<span class=\"_ _2\"></span>d inten<span class=\"_ _2\"></span>t to net settle wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s clearing member<span class=\"_ _0\"></span> balances. The carr<span class=\"_ _2\"></span>ying values of the<span class=\"_ _0\"></span> balances are o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset at an<span class=\"_ _0\"></span> appropriate level<span class=\"_ _0\"></span> to arrive at the net<span class=\"_ _0\"></span> balances reported in the balance<span class=\"_ _0\"></span> sheet<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The approach ado<span class=\"_ _2\"></span>pted i<span class=\"_ _2\"></span>s revi<span class=\"_ _2\"></span>ewed on a r<span class=\"_ _2\"></span>egul<span class=\"_ _2\"></span>ar bas<span class=\"_ _2\"></span>is to ens<span class=\"_ _2\"></span>ure it re<span class=\"_ _2\"></span>main<span class=\"_ _2\"></span>s the<span class=\"_ _2\"></span> most appropriate. Any ch<span class=\"_ _0\"></span>ange in approach would<span class=\"_ _0\"></span> not materially af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he net as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up.<span class=\"_ _314\"> </span>The following tables<span class=\"_ _0\"></span> show the impact of nettin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> arrangemen<span class=\"_ _2\"></span>ts on all<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities that are reported net on<span class=\"_ _0\"></span> the balance she<span class=\"_ _2\"></span>et and w<span class=\"_ _2\"></span>here b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ces have n<span class=\"_ _2\"></span>ot be<span class=\"_ _2\"></span>en net<span class=\"_ _2\"></span>ted b<span class=\"_ _2\"></span>ut t<span class=\"_ _2\"></span>here is a r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t to of<span class=\"_ _2\"></span>fs<span class=\"_ _2\"></span>et in th<span class=\"_ _2\"></span>e event o<span class=\"_ _2\"></span>f defa<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span><table class=\"s w8d8 h296\" id=\"_5a8ca4a2-60eb-4476-b559-a67ec1c3f527\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xebd h13 y2428 ff75 fs6 fc1 sc0 ls12 ws44\">Amounts not </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x2cf h13 y2429 ff75 fs6 fc1 sc0 ls27 ws43\">netted, but </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xebe h13 y242a ff75 fs6 fc1 sc0 ls12 ws44\">Amount as </td><td class=\"t m0 xebf h13 y242a ff75 fs6 fc1 sc0 lse5 ws75\">available in </td><td></td></tr><tr><td></td><td class=\"t m0 xec0 h13 y242b ff75 fs6 fc1 sc0 ls4 ws3\">Gros<span class=\"_ _2\"></span>s </td><td class=\"t m0 xec1 h13 y242b ff75 fs6 fc1 sc0 ls12 ws81\">Amount </td><td class=\"t m0 xec2 h13 y242b ff75 fs6 fc1 sc0 ls26 ws3\">rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ted in t<span class=\"_ _2\"></span>he </td><td class=\"t m0 xec3 h13 y242b ff75 fs6 fc1 sc0 ls26 ws3\">even<span class=\"_ _2\"></span>t of<span class=\"_ _314\"> </span></td><td class=\"t m0 xec4 h13 y242b ff75 fs6 fc1 sc0 ls4 ws3\">Net </td></tr><tr><td></td><td class=\"t m0 xec5 h13 y242c ff75 fs6 fc1 sc0 ls12 ws81\">amount<span class=\"_ _314\"> </span></td><td class=\"t m0 x2cd h13 y242c ff75 fs6 fc1 sc0 ls110 ws183\">off<span class=\"_ _2\"></span>set<span class=\"_ _314\"> </span></td><td class=\"t m0 xec6 h13 y242c ff75 fs6 fc1 sc0 ls12 ws44\">balance sheet<span class=\"_ _314\"> </span></td><td class=\"c xec8 y242d w8d9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws125\">default</div><div class=\"t m0 xec7 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xec9 h13 y242c ff75 fs6 fc1 sc0 ls12 ws81\">amount<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y242e w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xeca y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xecb y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xecc y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xecd y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xece y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y218b w8da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets</div><div class=\"t m0 xecf h194 y20c0 ff76 fs12a fc1 sc0 ls113 ws188\">2,3<span class=\"_ _314\"> </span></div></td><td class=\"c n xed0 y2072 w8db h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaf wsd9\">2<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>42<span class=\"_ _2\"></span>5,1<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xed1 y2072 w8dc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">(1,<span class=\"_ _2\"></span>890,182)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed2 y2072 w8dd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">534,966<span class=\"_ _314\"> </span></div></td><td class=\"c n xed3 y2072 w8de h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">(534,966)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed4 y2072 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y218c w8df h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Reverse r<span class=\"_ _0\"></span>epurchase agreements</div><div class=\"t m0 xa46 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a0 y2073 w8e0 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">135,408<span class=\"_ _314\"> </span></div></td><td class=\"c n xed5 y2073 w8e1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _1\"></span>7,<span class=\"_ _2\"></span>9<span class=\"_ _1\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _1\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed6 y2073 w8e2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xed7 y2073 w8e3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed8 y2073 w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21b6 w8e4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeda y2065 w8e5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls75 ws9e\">191<span class=\"_ _314\"> </span></div></td><td class=\"c n xedb y2065 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xedc y2065 w8e6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls75 ws9e\">191<span class=\"_ _314\"> </span></div></td><td class=\"c n xedd y2065 w3ca h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">(12)<span class=\"_ _314\"> </span></div></td><td class=\"c n xede y2065 w693 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">179<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 we3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xedf y2066 w8e7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls78 wse4\">2<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>56<span class=\"_ _2\"></span>0<span class=\"_ _2\"></span>,74<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xee0 y2066 w8e8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaa wsd6\">(1,898,099)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee1 y2066 w8e9 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,648<span class=\"_ _314\"> </span></div></td><td class=\"c n xee2 y2066 w8ea h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">(662<span class=\"_ _2\"></span>,469<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee3 y2066 w8eb h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">17<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y213d w8ec h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities</div><div class=\"t m0 xee4 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2,3<span class=\"_ _314\"> </span></div></td><td class=\"c n xee5 y214c w8ed h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(2,451,253)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee6 y214c w8ee h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">1<span class=\"_ _2\"></span>,916,<span class=\"_ _2\"></span>287<span class=\"_ _314\"> </span></div></td><td class=\"c n xee7 y214c w8de h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">(534,966)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee8 y214c w8dd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">534,966<span class=\"_ _314\"> </span></div></td><td class=\"c n xee9 y214c w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y20d9 w8ef h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Repurchase<span class=\"_ _0\"></span> agreements</div><div class=\"t m0 xeea h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a4 y2075 w8f0 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">(135,408)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeeb y2075 w8f1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xeec y2075 w8e3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeed y2075 w8f2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>9<span class=\"_ _1\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xeee y2075 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y20da w8e4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeef y2068 w8f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef0 y2068 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xef1 y2068 w8f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef2 y2068 w4b2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xef3 y2068 w8f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa7 wsd3\">(9)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w10e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xef4 y2069 w8f5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">(2,<span class=\"_ _2\"></span>586,6<span class=\"_ _2\"></span>82)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef5 y2069 w8f6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">1,92<span class=\"_ _0\"></span>4,204<span class=\"_ _314\"> </span></div></td><td class=\"c n xef6 y2069 w8f7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">(662,478)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef7 y2069 w8f8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,469<span class=\"_ _314\"> </span></div></td><td class=\"c n xef8 y2069 w8f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa7 wsd3\">(9)<span class=\"_ _314\"> </span></div></td></tr></table><table class=\"s w8f9 h297\" id=\"_d44fc5fa-6de7-44b9-bb24-ccfc8245ab27\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xef9 hb y242f ff76 fs6 fc1 sc0 ls27 ws43\">Amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> not </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xefa hb y2430 ff76 fs6 fc1 sc0 ls26 ws3\">net<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d, bu<span class=\"_ _2\"></span>t </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xefb hb y2431 ff76 fs6 fc1 sc0 ls41 ws5e\">Amount as </td><td class=\"t m0 x2cf hb y2431 ff76 fs6 fc1 sc0 ls12 ws44\">available in </td><td></td></tr><tr><td></td><td class=\"t m0 xec0 hb y2432 ff76 fs6 fc1 sc0 ls4 ws3\">Gros<span class=\"_ _2\"></span>s </td><td class=\"t m0 xefc hb y2432 ff76 fs6 fc1 sc0 ls7a wsbe\">Amount </td><td class=\"t m0 xefd hb y2432 ff76 fs6 fc1 sc0 ls26 ws3\">rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>n the<span class=\"_ _2\"></span> </td><td class=\"t m0 x6d5 hb y2432 ff76 fs6 fc1 sc0 lse0 ws10e\">event of<span class=\"_ _314\"> </span></td><td class=\"t m0 xec4 hb y2432 ff76 fs6 fc1 sc0 ls4 ws3\">Net </td></tr><tr><td></td><td class=\"t m0 xefe hb y2433 ff76 fs6 fc1 sc0 ls27 ws45\">amount<span class=\"_ _314\"> </span></td><td class=\"t m0 xeff hb y2433 ff76 fs6 fc1 sc0 lse0 ws110\">of<span class=\"_ _2\"></span>fset<span class=\"_ _314\"> </span></td><td class=\"t m0 xba9 hb y2433 ff76 fs6 fc1 sc0 ls27 ws43\">balance sheet<span class=\"_ _314\"> </span></td><td class=\"c xf01 y2434 w8fa h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls5f ws84\">defaul<span class=\"_ _2\"></span>t</div><div class=\"t m0 xf00 h199 y2120 ff76 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xec9 hb y2433 ff76 fs6 fc1 sc0 ls27 ws45\">amount<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y2435 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xf02 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf03 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf04 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf05 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf06 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2072 w8fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets</div><div class=\"t m0 xecf h194 y20d4 ff76 fs12a fc1 sc0 ls11a ws3\">2, 3<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a4 y2072 w8fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">1,<span class=\"_ _2\"></span>80<span class=\"_ _2\"></span>4,27<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xf07 y2072 w8fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls61 ws86\">(<span class=\"_ _2\"></span>1,7<span class=\"_ _2\"></span>99,90<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf08 y2072 w8fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td><td class=\"c n xf09 y2072 w8ff h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(4,<span class=\"_ _2\"></span>36<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0a y2072 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2073 w8df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Reverse r<span class=\"_ _0\"></span>epurchase agreements</div><div class=\"t m0 xa46 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d7 y2073 w900 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">686,211<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0b y2073 w901 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">(9<span class=\"_ _2\"></span>6,023<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0c y2073 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0d y2073 w741 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">(59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0e y2073 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2065 w8e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeef y2065 w902 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0f y2065 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf10 y2065 w903 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n xf11 y2065 w268 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(48<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf12 y2065 w33f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 we3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xf13 y2066 w516 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2,49<span class=\"_ _2\"></span>0,568<span class=\"_ _314\"> </span></div></td><td class=\"c n xf14 y2066 w904 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">(1<span class=\"_ _2\"></span>,895,927)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf15 y2066 w905 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n xf16 y2066 w906 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(594,603)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf17 y2066 w117 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y214c w907 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities</div><div class=\"t m0 xee4 h194 y20d4 ff76 fs12a fc1 sc0 ls11a ws3\">2, 3<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a4 y214c w908 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls88 wsb4\">(1,819,018)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf18 y214c w909 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,8<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>51<span class=\"_ _314\"> </span></div></td><td class=\"c n xf19 y214c w90a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(4,<span class=\"_ _2\"></span>367<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1a y214c w8fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,3<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1b y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2075 w8ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Repurchase<span class=\"_ _0\"></span> agreements</div><div class=\"t m0 xeea h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x4b3 y2075 w90b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">(686,211)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1c y2075 w90c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">9<span class=\"_ _2\"></span>6,02<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1d y2075 w741 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">(59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1e y2075 w90d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1f y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w8e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeda y2068 w90e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">(<span class=\"_ _2\"></span>75)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf20 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf21 y2068 w1e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">(<span class=\"_ _2\"></span>75)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf22 y2068 w6b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb8 wse8\">48<span class=\"_ _314\"> </span></div></td><td class=\"c n xf23 y2068 w90f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">(27<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w10e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xf24 y2069 w910 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(2,505,304)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf25 y2069 w911 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>0<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td><td class=\"c n xf26 y2069 w912 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>594<span class=\"_ _2\"></span>,63<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf27 y2069 w913 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,60<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xf28 y2069 w90f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">(27<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s C<span class=\"_ _2\"></span>CP com<span class=\"_ _2\"></span>pan<span class=\"_ _2\"></span>ies a<span class=\"_ _2\"></span>ct a<span class=\"_ _2\"></span>s pr<span class=\"_ _2\"></span>inci<span class=\"_ _2\"></span>pal a<span class=\"_ _2\"></span>nd si<span class=\"_ _2\"></span>t in t<span class=\"_ _2\"></span>he mi<span class=\"_ _2\"></span>ddl<span class=\"_ _2\"></span>e of me<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>rs\u2019 t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ons a<span class=\"_ _2\"></span>nd ho<span class=\"_ _2\"></span>ld de<span class=\"_ _2\"></span>fau<span class=\"_ _2\"></span>lt fu<span class=\"_ _2\"></span>nd<span class=\"_ _2\"></span>s and ma<span class=\"_ _2\"></span>rgi<span class=\"_ _2\"></span>n amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s as a c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>enc<span class=\"_ _2\"></span>y ag<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>st t<span class=\"_ _2\"></span>he de<span class=\"_ _2\"></span>faul<span class=\"_ _2\"></span>t of a m<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er. As s<span class=\"_ _2\"></span>uch<span class=\"_ _2\"></span>, fur<span class=\"_ _2\"></span>ther<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are available t<span class=\"_ _0\"></span>o offset in the event<span class=\"_ _0\"></span> of a<span class=\"_ _0\"></span> default reducing the asset<span class=\"_ _0\"></span> and liability to nil.<span class=\"_ _0\"></span> The Group is<span class=\"_ _0\"></span> subject to master netting arrangements in f<span class=\"_ _0\"></span>orce with financial counterparties with whom the Group<span class=\"_ _0\"></span> trades derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _0\"></span> The master netting arrangements determine the proceedings<span class=\"_ _0\"></span> should either part<span class=\"_ _2\"></span>y de<span class=\"_ _0\"></span>fault on their obligations. In<span class=\"_ _0\"></span> the event of<span class=\"_ _0\"></span> default, the non-<span class=\"_ _2\"></span>defaulting party will calculate<span class=\"_ _0\"></span> the sum of<span class=\"_ _0\"></span> the replacement cost<span class=\"_ _0\"></span> of outst<span class=\"_ _2\"></span>anding<span class=\"_ _0\"></span> transac<span class=\"_ _2\"></span>tions and<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to be settled.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>Offset amounts are clearing<span class=\"_ _0\"></span> member trading assets and trading liabilities<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> CCP businesses\u2019<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> instrum<span class=\"_ _2\"></span>ents.<span class=\"_ _314\"> </span>3 <span class=\"_ _7\"> </span>T<span class=\"_ _2\"></span>he im<span class=\"_ _2\"></span>bal<span class=\"_ _2\"></span>ance b<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>wee<span class=\"_ _2\"></span>n gro<span class=\"_ _2\"></span>ss an<span class=\"_ _2\"></span>d of<span class=\"_ _2\"></span>fse<span class=\"_ _2\"></span>t amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s is c<span class=\"_ _2\"></span>aus<span class=\"_ _2\"></span>ed by t<span class=\"_ _2\"></span>he exc<span class=\"_ _2\"></span>lus<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f var<span class=\"_ _2\"></span>iat<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>arg<span class=\"_ _2\"></span>in pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le an<span class=\"_ _2\"></span>d rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble t<span class=\"_ _2\"></span>o and f<span class=\"_ _2\"></span>rom t<span class=\"_ _2\"></span>he me<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>rs o<span class=\"_ _2\"></span>n cle<span class=\"_ _2\"></span>ari<span class=\"_ _2\"></span>ng ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es.<span class=\"_ _314\"> </span>4 <span class=\"_ _7\"> </span>Balance ex<span class=\"_ _0\"></span>cludes embedded derivatives<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOffsettingOfFinancialLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-552": {
   "value": "17<span class=\"_ _3\"></span>.6 Of<span class=\"_ _2\"></span>fsetting f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s a<span class=\"_ _0\"></span>nd f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span>  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ts f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> on a net basis on the balanc<span class=\"_ _0\"></span>e sheet where<span class=\"_ _0\"></span> there is a legally enf<span class=\"_ _0\"></span>orceable right to o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset the recognised amounts and there<span class=\"_ _0\"></span> is an intention to set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>le on a n<span class=\"_ _2\"></span>et basi<span class=\"_ _2\"></span>s, or to r<span class=\"_ _2\"></span>ealis<span class=\"_ _2\"></span>e the a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d set<span class=\"_ _2\"></span>tl<span class=\"_ _2\"></span>e the<span class=\"_ _2\"></span> liabilities simultaneousl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p appl<span class=\"_ _2\"></span>ies t<span class=\"_ _2\"></span>he rul<span class=\"_ _2\"></span>es of le<span class=\"_ _2\"></span>gal r<span class=\"_ _2\"></span>ight o<span class=\"_ _2\"></span>f set of<span class=\"_ _2\"></span>f an<span class=\"_ _2\"></span>d inten<span class=\"_ _2\"></span>t to net settle wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s clearing member<span class=\"_ _0\"></span> balances. The carr<span class=\"_ _2\"></span>ying values of the<span class=\"_ _0\"></span> balances are o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset at an<span class=\"_ _0\"></span> appropriate level<span class=\"_ _0\"></span> to arrive at the net<span class=\"_ _0\"></span> balances reported in the balance<span class=\"_ _0\"></span> sheet<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The approach ado<span class=\"_ _2\"></span>pted i<span class=\"_ _2\"></span>s revi<span class=\"_ _2\"></span>ewed on a r<span class=\"_ _2\"></span>egul<span class=\"_ _2\"></span>ar bas<span class=\"_ _2\"></span>is to ens<span class=\"_ _2\"></span>ure it re<span class=\"_ _2\"></span>main<span class=\"_ _2\"></span>s the<span class=\"_ _2\"></span> most appropriate. Any ch<span class=\"_ _0\"></span>ange in approach would<span class=\"_ _0\"></span> not materially af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he net as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up.<span class=\"_ _314\"> </span>The following tables<span class=\"_ _0\"></span> show the impact of nettin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> arrangemen<span class=\"_ _2\"></span>ts on all<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities that are reported net on<span class=\"_ _0\"></span> the balance she<span class=\"_ _2\"></span>et and w<span class=\"_ _2\"></span>here b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ces have n<span class=\"_ _2\"></span>ot be<span class=\"_ _2\"></span>en net<span class=\"_ _2\"></span>ted b<span class=\"_ _2\"></span>ut t<span class=\"_ _2\"></span>here is a r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t to of<span class=\"_ _2\"></span>fs<span class=\"_ _2\"></span>et in th<span class=\"_ _2\"></span>e event o<span class=\"_ _2\"></span>f defa<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span><table class=\"s w8d8 h296\" id=\"_5a8ca4a2-60eb-4476-b559-a67ec1c3f527\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xebd h13 y2428 ff75 fs6 fc1 sc0 ls12 ws44\">Amounts not </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x2cf h13 y2429 ff75 fs6 fc1 sc0 ls27 ws43\">netted, but </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xebe h13 y242a ff75 fs6 fc1 sc0 ls12 ws44\">Amount as </td><td class=\"t m0 xebf h13 y242a ff75 fs6 fc1 sc0 lse5 ws75\">available in </td><td></td></tr><tr><td></td><td class=\"t m0 xec0 h13 y242b ff75 fs6 fc1 sc0 ls4 ws3\">Gros<span class=\"_ _2\"></span>s </td><td class=\"t m0 xec1 h13 y242b ff75 fs6 fc1 sc0 ls12 ws81\">Amount </td><td class=\"t m0 xec2 h13 y242b ff75 fs6 fc1 sc0 ls26 ws3\">rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ted in t<span class=\"_ _2\"></span>he </td><td class=\"t m0 xec3 h13 y242b ff75 fs6 fc1 sc0 ls26 ws3\">even<span class=\"_ _2\"></span>t of<span class=\"_ _314\"> </span></td><td class=\"t m0 xec4 h13 y242b ff75 fs6 fc1 sc0 ls4 ws3\">Net </td></tr><tr><td></td><td class=\"t m0 xec5 h13 y242c ff75 fs6 fc1 sc0 ls12 ws81\">amount<span class=\"_ _314\"> </span></td><td class=\"t m0 x2cd h13 y242c ff75 fs6 fc1 sc0 ls110 ws183\">off<span class=\"_ _2\"></span>set<span class=\"_ _314\"> </span></td><td class=\"t m0 xec6 h13 y242c ff75 fs6 fc1 sc0 ls12 ws44\">balance sheet<span class=\"_ _314\"> </span></td><td class=\"c xec8 y242d w8d9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws125\">default</div><div class=\"t m0 xec7 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xec9 h13 y242c ff75 fs6 fc1 sc0 ls12 ws81\">amount<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y242e w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xeca y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xecb y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xecc y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xecd y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xece y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y218b w8da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets</div><div class=\"t m0 xecf h194 y20c0 ff76 fs12a fc1 sc0 ls113 ws188\">2,3<span class=\"_ _314\"> </span></div></td><td class=\"c n xed0 y2072 w8db h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaf wsd9\">2<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>42<span class=\"_ _2\"></span>5,1<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xed1 y2072 w8dc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">(1,<span class=\"_ _2\"></span>890,182)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed2 y2072 w8dd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">534,966<span class=\"_ _314\"> </span></div></td><td class=\"c n xed3 y2072 w8de h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">(534,966)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed4 y2072 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y218c w8df h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Reverse r<span class=\"_ _0\"></span>epurchase agreements</div><div class=\"t m0 xa46 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a0 y2073 w8e0 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">135,408<span class=\"_ _314\"> </span></div></td><td class=\"c n xed5 y2073 w8e1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _1\"></span>7,<span class=\"_ _2\"></span>9<span class=\"_ _1\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _1\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed6 y2073 w8e2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xed7 y2073 w8e3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed8 y2073 w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21b6 w8e4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeda y2065 w8e5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls75 ws9e\">191<span class=\"_ _314\"> </span></div></td><td class=\"c n xedb y2065 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xedc y2065 w8e6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls75 ws9e\">191<span class=\"_ _314\"> </span></div></td><td class=\"c n xedd y2065 w3ca h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">(12)<span class=\"_ _314\"> </span></div></td><td class=\"c n xede y2065 w693 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">179<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 we3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xedf y2066 w8e7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls78 wse4\">2<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>56<span class=\"_ _2\"></span>0<span class=\"_ _2\"></span>,74<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xee0 y2066 w8e8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaa wsd6\">(1,898,099)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee1 y2066 w8e9 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,648<span class=\"_ _314\"> </span></div></td><td class=\"c n xee2 y2066 w8ea h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">(662<span class=\"_ _2\"></span>,469<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee3 y2066 w8eb h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">17<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y213d w8ec h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities</div><div class=\"t m0 xee4 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2,3<span class=\"_ _314\"> </span></div></td><td class=\"c n xee5 y214c w8ed h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(2,451,253)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee6 y214c w8ee h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">1<span class=\"_ _2\"></span>,916,<span class=\"_ _2\"></span>287<span class=\"_ _314\"> </span></div></td><td class=\"c n xee7 y214c w8de h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">(534,966)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee8 y214c w8dd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">534,966<span class=\"_ _314\"> </span></div></td><td class=\"c n xee9 y214c w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y20d9 w8ef h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Repurchase<span class=\"_ _0\"></span> agreements</div><div class=\"t m0 xeea h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a4 y2075 w8f0 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">(135,408)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeeb y2075 w8f1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xeec y2075 w8e3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeed y2075 w8f2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>9<span class=\"_ _1\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xeee y2075 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y20da w8e4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeef y2068 w8f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef0 y2068 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xef1 y2068 w8f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef2 y2068 w4b2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xef3 y2068 w8f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa7 wsd3\">(9)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w10e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xef4 y2069 w8f5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">(2,<span class=\"_ _2\"></span>586,6<span class=\"_ _2\"></span>82)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef5 y2069 w8f6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">1,92<span class=\"_ _0\"></span>4,204<span class=\"_ _314\"> </span></div></td><td class=\"c n xef6 y2069 w8f7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">(662,478)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef7 y2069 w8f8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,469<span class=\"_ _314\"> </span></div></td><td class=\"c n xef8 y2069 w8f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa7 wsd3\">(9)<span class=\"_ _314\"> </span></div></td></tr></table><table class=\"s w8f9 h297\" id=\"_d44fc5fa-6de7-44b9-bb24-ccfc8245ab27\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xef9 hb y242f ff76 fs6 fc1 sc0 ls27 ws43\">Amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> not </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xefa hb y2430 ff76 fs6 fc1 sc0 ls26 ws3\">net<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d, bu<span class=\"_ _2\"></span>t </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xefb hb y2431 ff76 fs6 fc1 sc0 ls41 ws5e\">Amount as </td><td class=\"t m0 x2cf hb y2431 ff76 fs6 fc1 sc0 ls12 ws44\">available in </td><td></td></tr><tr><td></td><td class=\"t m0 xec0 hb y2432 ff76 fs6 fc1 sc0 ls4 ws3\">Gros<span class=\"_ _2\"></span>s </td><td class=\"t m0 xefc hb y2432 ff76 fs6 fc1 sc0 ls7a wsbe\">Amount </td><td class=\"t m0 xefd hb y2432 ff76 fs6 fc1 sc0 ls26 ws3\">rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>n the<span class=\"_ _2\"></span> </td><td class=\"t m0 x6d5 hb y2432 ff76 fs6 fc1 sc0 lse0 ws10e\">event of<span class=\"_ _314\"> </span></td><td class=\"t m0 xec4 hb y2432 ff76 fs6 fc1 sc0 ls4 ws3\">Net </td></tr><tr><td></td><td class=\"t m0 xefe hb y2433 ff76 fs6 fc1 sc0 ls27 ws45\">amount<span class=\"_ _314\"> </span></td><td class=\"t m0 xeff hb y2433 ff76 fs6 fc1 sc0 lse0 ws110\">of<span class=\"_ _2\"></span>fset<span class=\"_ _314\"> </span></td><td class=\"t m0 xba9 hb y2433 ff76 fs6 fc1 sc0 ls27 ws43\">balance sheet<span class=\"_ _314\"> </span></td><td class=\"c xf01 y2434 w8fa h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls5f ws84\">defaul<span class=\"_ _2\"></span>t</div><div class=\"t m0 xf00 h199 y2120 ff76 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xec9 hb y2433 ff76 fs6 fc1 sc0 ls27 ws45\">amount<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y2435 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xf02 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf03 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf04 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf05 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf06 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2072 w8fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets</div><div class=\"t m0 xecf h194 y20d4 ff76 fs12a fc1 sc0 ls11a ws3\">2, 3<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a4 y2072 w8fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">1,<span class=\"_ _2\"></span>80<span class=\"_ _2\"></span>4,27<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xf07 y2072 w8fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls61 ws86\">(<span class=\"_ _2\"></span>1,7<span class=\"_ _2\"></span>99,90<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf08 y2072 w8fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td><td class=\"c n xf09 y2072 w8ff h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(4,<span class=\"_ _2\"></span>36<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0a y2072 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2073 w8df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Reverse r<span class=\"_ _0\"></span>epurchase agreements</div><div class=\"t m0 xa46 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d7 y2073 w900 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">686,211<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0b y2073 w901 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">(9<span class=\"_ _2\"></span>6,023<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0c y2073 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0d y2073 w741 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">(59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0e y2073 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2065 w8e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeef y2065 w902 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0f y2065 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf10 y2065 w903 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n xf11 y2065 w268 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(48<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf12 y2065 w33f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 we3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xf13 y2066 w516 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2,49<span class=\"_ _2\"></span>0,568<span class=\"_ _314\"> </span></div></td><td class=\"c n xf14 y2066 w904 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">(1<span class=\"_ _2\"></span>,895,927)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf15 y2066 w905 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n xf16 y2066 w906 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(594,603)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf17 y2066 w117 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y214c w907 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities</div><div class=\"t m0 xee4 h194 y20d4 ff76 fs12a fc1 sc0 ls11a ws3\">2, 3<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a4 y214c w908 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls88 wsb4\">(1,819,018)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf18 y214c w909 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,8<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>51<span class=\"_ _314\"> </span></div></td><td class=\"c n xf19 y214c w90a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(4,<span class=\"_ _2\"></span>367<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1a y214c w8fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,3<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1b y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2075 w8ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Repurchase<span class=\"_ _0\"></span> agreements</div><div class=\"t m0 xeea h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x4b3 y2075 w90b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">(686,211)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1c y2075 w90c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">9<span class=\"_ _2\"></span>6,02<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1d y2075 w741 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">(59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1e y2075 w90d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1f y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w8e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeda y2068 w90e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">(<span class=\"_ _2\"></span>75)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf20 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf21 y2068 w1e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">(<span class=\"_ _2\"></span>75)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf22 y2068 w6b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb8 wse8\">48<span class=\"_ _314\"> </span></div></td><td class=\"c n xf23 y2068 w90f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">(27<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w10e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xf24 y2069 w910 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(2,505,304)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf25 y2069 w911 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>0<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td><td class=\"c n xf26 y2069 w912 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>594<span class=\"_ _2\"></span>,63<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf27 y2069 w913 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,60<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xf28 y2069 w90f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">(27<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s C<span class=\"_ _2\"></span>CP com<span class=\"_ _2\"></span>pan<span class=\"_ _2\"></span>ies a<span class=\"_ _2\"></span>ct a<span class=\"_ _2\"></span>s pr<span class=\"_ _2\"></span>inci<span class=\"_ _2\"></span>pal a<span class=\"_ _2\"></span>nd si<span class=\"_ _2\"></span>t in t<span class=\"_ _2\"></span>he mi<span class=\"_ _2\"></span>ddl<span class=\"_ _2\"></span>e of me<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>rs\u2019 t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ons a<span class=\"_ _2\"></span>nd ho<span class=\"_ _2\"></span>ld de<span class=\"_ _2\"></span>fau<span class=\"_ _2\"></span>lt fu<span class=\"_ _2\"></span>nd<span class=\"_ _2\"></span>s and ma<span class=\"_ _2\"></span>rgi<span class=\"_ _2\"></span>n amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s as a c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>enc<span class=\"_ _2\"></span>y ag<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>st t<span class=\"_ _2\"></span>he de<span class=\"_ _2\"></span>faul<span class=\"_ _2\"></span>t of a m<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er. As s<span class=\"_ _2\"></span>uch<span class=\"_ _2\"></span>, fur<span class=\"_ _2\"></span>ther<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are available t<span class=\"_ _0\"></span>o offset in the event<span class=\"_ _0\"></span> of a<span class=\"_ _0\"></span> default reducing the asset<span class=\"_ _0\"></span> and liability to nil.<span class=\"_ _0\"></span> The Group is<span class=\"_ _0\"></span> subject to master netting arrangements in f<span class=\"_ _0\"></span>orce with financial counterparties with whom the Group<span class=\"_ _0\"></span> trades derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _0\"></span> The master netting arrangements determine the proceedings<span class=\"_ _0\"></span> should either part<span class=\"_ _2\"></span>y de<span class=\"_ _0\"></span>fault on their obligations. In<span class=\"_ _0\"></span> the event of<span class=\"_ _0\"></span> default, the non-<span class=\"_ _2\"></span>defaulting party will calculate<span class=\"_ _0\"></span> the sum of<span class=\"_ _0\"></span> the replacement cost<span class=\"_ _0\"></span> of outst<span class=\"_ _2\"></span>anding<span class=\"_ _0\"></span> transac<span class=\"_ _2\"></span>tions and<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to be settled.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>Offset amounts are clearing<span class=\"_ _0\"></span> member trading assets and trading liabilities<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> CCP businesses\u2019<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> instrum<span class=\"_ _2\"></span>ents.<span class=\"_ _314\"> </span>3 <span class=\"_ _7\"> </span>T<span class=\"_ _2\"></span>he im<span class=\"_ _2\"></span>bal<span class=\"_ _2\"></span>ance b<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>wee<span class=\"_ _2\"></span>n gro<span class=\"_ _2\"></span>ss an<span class=\"_ _2\"></span>d of<span class=\"_ _2\"></span>fse<span class=\"_ _2\"></span>t amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s is c<span class=\"_ _2\"></span>aus<span class=\"_ _2\"></span>ed by t<span class=\"_ _2\"></span>he exc<span class=\"_ _2\"></span>lus<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f var<span class=\"_ _2\"></span>iat<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>arg<span class=\"_ _2\"></span>in pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le an<span class=\"_ _2\"></span>d rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble t<span class=\"_ _2\"></span>o and f<span class=\"_ _2\"></span>rom t<span class=\"_ _2\"></span>he me<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>rs o<span class=\"_ _2\"></span>n cle<span class=\"_ _2\"></span>ari<span class=\"_ _2\"></span>ng ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es.<span class=\"_ _314\"> </span>4 <span class=\"_ _7\"> </span>Balance ex<span class=\"_ _0\"></span>cludes embedded derivatives<span class=\"_ _314\"> </span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOffsettingOfFinancialAssetsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-575": {
   "value": "17<span class=\"_ _3\"></span>.6 Of<span class=\"_ _2\"></span>fsetting f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s a<span class=\"_ _0\"></span>nd f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ts f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilit<span class=\"_ _2\"></span>ies<span class=\"_ _0\"></span> on a net basis on the balanc<span class=\"_ _0\"></span>e sheet where<span class=\"_ _0\"></span> there is a legally enf<span class=\"_ _0\"></span>orceable right to o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset the recognised amounts and there<span class=\"_ _0\"></span> is an intention to set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>le on a n<span class=\"_ _2\"></span>et basi<span class=\"_ _2\"></span>s, or to r<span class=\"_ _2\"></span>ealis<span class=\"_ _2\"></span>e the a<span class=\"_ _2\"></span>sse<span class=\"_ _2\"></span>ts an<span class=\"_ _2\"></span>d set<span class=\"_ _2\"></span>tl<span class=\"_ _2\"></span>e the<span class=\"_ _2\"></span> liabilities simultaneousl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p appl<span class=\"_ _2\"></span>ies t<span class=\"_ _2\"></span>he rul<span class=\"_ _2\"></span>es of le<span class=\"_ _2\"></span>gal r<span class=\"_ _2\"></span>ight o<span class=\"_ _2\"></span>f set of<span class=\"_ _2\"></span>f an<span class=\"_ _2\"></span>d inten<span class=\"_ _2\"></span>t to net settle wit<span class=\"_ _2\"></span>hin<span class=\"_ _0\"></span> it<span class=\"_ _2\"></span>s clearing member<span class=\"_ _0\"></span> balances. The carr<span class=\"_ _2\"></span>ying values of the<span class=\"_ _0\"></span> balances are o<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>fset at an<span class=\"_ _0\"></span> appropriate level<span class=\"_ _0\"></span> to arrive at the net<span class=\"_ _0\"></span> balances reported in the balance<span class=\"_ _0\"></span> sheet<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The approach ado<span class=\"_ _2\"></span>pted i<span class=\"_ _2\"></span>s revi<span class=\"_ _2\"></span>ewed on a r<span class=\"_ _2\"></span>egul<span class=\"_ _2\"></span>ar bas<span class=\"_ _2\"></span>is to ens<span class=\"_ _2\"></span>ure it re<span class=\"_ _2\"></span>main<span class=\"_ _2\"></span>s the<span class=\"_ _2\"></span> most appropriate. Any ch<span class=\"_ _0\"></span>ange in approach would<span class=\"_ _0\"></span> not materially af<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>t t<span class=\"_ _2\"></span>he net as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s of t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up.<span class=\"_ _314\"> </span>The following tables<span class=\"_ _0\"></span> show the impact of nettin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> arrangemen<span class=\"_ _2\"></span>ts on all<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s and<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities that are reported net on<span class=\"_ _0\"></span> the balance she<span class=\"_ _2\"></span>et and w<span class=\"_ _2\"></span>here b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ces have n<span class=\"_ _2\"></span>ot be<span class=\"_ _2\"></span>en net<span class=\"_ _2\"></span>ted b<span class=\"_ _2\"></span>ut t<span class=\"_ _2\"></span>here is a r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>t to of<span class=\"_ _2\"></span>fs<span class=\"_ _2\"></span>et in th<span class=\"_ _2\"></span>e event o<span class=\"_ _2\"></span>f defa<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span><table class=\"s w8d8 h296\" id=\"_5a8ca4a2-60eb-4476-b559-a67ec1c3f527\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xebd h13 y2428 ff75 fs6 fc1 sc0 ls12 ws44\">Amounts not </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 x2cf h13 y2429 ff75 fs6 fc1 sc0 ls27 ws43\">netted, but </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xebe h13 y242a ff75 fs6 fc1 sc0 ls12 ws44\">Amount as </td><td class=\"t m0 xebf h13 y242a ff75 fs6 fc1 sc0 lse5 ws75\">available in </td><td></td></tr><tr><td></td><td class=\"t m0 xec0 h13 y242b ff75 fs6 fc1 sc0 ls4 ws3\">Gros<span class=\"_ _2\"></span>s </td><td class=\"t m0 xec1 h13 y242b ff75 fs6 fc1 sc0 ls12 ws81\">Amount </td><td class=\"t m0 xec2 h13 y242b ff75 fs6 fc1 sc0 ls26 ws3\">rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ted in t<span class=\"_ _2\"></span>he </td><td class=\"t m0 xec3 h13 y242b ff75 fs6 fc1 sc0 ls26 ws3\">even<span class=\"_ _2\"></span>t of<span class=\"_ _314\"> </span></td><td class=\"t m0 xec4 h13 y242b ff75 fs6 fc1 sc0 ls4 ws3\">Net </td></tr><tr><td></td><td class=\"t m0 xec5 h13 y242c ff75 fs6 fc1 sc0 ls12 ws81\">amount<span class=\"_ _314\"> </span></td><td class=\"t m0 x2cd h13 y242c ff75 fs6 fc1 sc0 ls110 ws183\">off<span class=\"_ _2\"></span>set<span class=\"_ _314\"> </span></td><td class=\"t m0 xec6 h13 y242c ff75 fs6 fc1 sc0 ls12 ws44\">balance sheet<span class=\"_ _314\"> </span></td><td class=\"c xec8 y242d w8d9 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws125\">default</div><div class=\"t m0 xec7 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xec9 h13 y242c ff75 fs6 fc1 sc0 ls12 ws81\">amount<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y242e w6f7 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025<span class=\"_ _314\"> </span></div></td><td class=\"c n xeca y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xecb y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xecc y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xecd y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xece y242e w34 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y218b w8da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets</div><div class=\"t m0 xecf h194 y20c0 ff76 fs12a fc1 sc0 ls113 ws188\">2,3<span class=\"_ _314\"> </span></div></td><td class=\"c n xed0 y2072 w8db h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaf wsd9\">2<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>42<span class=\"_ _2\"></span>5,1<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xed1 y2072 w8dc h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">(1,<span class=\"_ _2\"></span>890,182)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed2 y2072 w8dd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">534,966<span class=\"_ _314\"> </span></div></td><td class=\"c n xed3 y2072 w8de h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">(534,966)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed4 y2072 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y218c w8df h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Reverse r<span class=\"_ _0\"></span>epurchase agreements</div><div class=\"t m0 xa46 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x4a0 y2073 w8e0 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">135,408<span class=\"_ _314\"> </span></div></td><td class=\"c n xed5 y2073 w8e1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _1\"></span>7,<span class=\"_ _2\"></span>9<span class=\"_ _1\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _1\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed6 y2073 w8e2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>4<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xed7 y2073 w8e3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xed8 y2073 w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21b6 w8e4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeda y2065 w8e5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls75 ws9e\">191<span class=\"_ _314\"> </span></div></td><td class=\"c n xedb y2065 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xedc y2065 w8e6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls75 ws9e\">191<span class=\"_ _314\"> </span></div></td><td class=\"c n xedd y2065 w3ca h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">(12)<span class=\"_ _314\"> </span></div></td><td class=\"c n xede y2065 w693 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">179<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 we3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xedf y2066 w8e7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls78 wse4\">2<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>56<span class=\"_ _2\"></span>0<span class=\"_ _2\"></span>,74<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xee0 y2066 w8e8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsaa wsd6\">(1,898,099)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee1 y2066 w8e9 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,648<span class=\"_ _314\"> </span></div></td><td class=\"c n xee2 y2066 w8ea h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">(662<span class=\"_ _2\"></span>,469<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee3 y2066 w8eb h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">17<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y213d w8ec h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities</div><div class=\"t m0 xee4 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2,3<span class=\"_ _314\"> </span></div></td><td class=\"c n xee5 y214c w8ed h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(2,451,253)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee6 y214c w8ee h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">1<span class=\"_ _2\"></span>,916,<span class=\"_ _2\"></span>287<span class=\"_ _314\"> </span></div></td><td class=\"c n xee7 y214c w8de h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">(534,966)<span class=\"_ _314\"> </span></div></td><td class=\"c n xee8 y214c w8dd h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">534,966<span class=\"_ _314\"> </span></div></td><td class=\"c n xee9 y214c w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y20d9 w8ef h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 wsda\">Repurchase<span class=\"_ _0\"></span> agreements</div><div class=\"t m0 xeea h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a4 y2075 w8f0 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">(135,408)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeeb y2075 w8f1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td><td class=\"c n xeec y2075 w8e3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">(<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xeed y2075 w8f2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">1<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>9<span class=\"_ _1\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xeee y2075 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y20da w8e4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeef y2068 w8f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef0 y2068 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xef1 y2068 w8f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef2 y2068 w4b2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">12<span class=\"_ _314\"> </span></div></td><td class=\"c n xef3 y2068 w8f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa7 wsd3\">(9)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w10e h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xef4 y2069 w8f5 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa4 wscf\">(2,<span class=\"_ _2\"></span>586,6<span class=\"_ _2\"></span>82)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef5 y2069 w8f6 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsac wsd7\">1,92<span class=\"_ _0\"></span>4,204<span class=\"_ _314\"> </span></div></td><td class=\"c n xef6 y2069 w8f7 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">(662,478)<span class=\"_ _314\"> </span></div></td><td class=\"c n xef7 y2069 w8f8 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls61 ws86\">662<span class=\"_ _2\"></span>,469<span class=\"_ _314\"> </span></div></td><td class=\"c n xef8 y2069 w8f4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa7 wsd3\">(9)<span class=\"_ _314\"> </span></div></td></tr></table><table class=\"s w8f9 h297\" id=\"_d44fc5fa-6de7-44b9-bb24-ccfc8245ab27\"><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xef9 hb y242f ff76 fs6 fc1 sc0 ls27 ws43\">Amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> not </td><td></td></tr><tr><td></td><td></td><td></td><td></td><td class=\"t m0 xefa hb y2430 ff76 fs6 fc1 sc0 ls26 ws3\">net<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d, bu<span class=\"_ _2\"></span>t </td><td></td></tr><tr><td></td><td></td><td></td><td class=\"t m0 xefb hb y2431 ff76 fs6 fc1 sc0 ls41 ws5e\">Amount as </td><td class=\"t m0 x2cf hb y2431 ff76 fs6 fc1 sc0 ls12 ws44\">available in </td><td></td></tr><tr><td></td><td class=\"t m0 xec0 hb y2432 ff76 fs6 fc1 sc0 ls4 ws3\">Gros<span class=\"_ _2\"></span>s </td><td class=\"t m0 xefc hb y2432 ff76 fs6 fc1 sc0 ls7a wsbe\">Amount </td><td class=\"t m0 xefd hb y2432 ff76 fs6 fc1 sc0 ls26 ws3\">rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>ted i<span class=\"_ _2\"></span>n the<span class=\"_ _2\"></span> </td><td class=\"t m0 x6d5 hb y2432 ff76 fs6 fc1 sc0 lse0 ws10e\">event of<span class=\"_ _314\"> </span></td><td class=\"t m0 xec4 hb y2432 ff76 fs6 fc1 sc0 ls4 ws3\">Net </td></tr><tr><td></td><td class=\"t m0 xefe hb y2433 ff76 fs6 fc1 sc0 ls27 ws45\">amount<span class=\"_ _314\"> </span></td><td class=\"t m0 xeff hb y2433 ff76 fs6 fc1 sc0 lse0 ws110\">of<span class=\"_ _2\"></span>fset<span class=\"_ _314\"> </span></td><td class=\"t m0 xba9 hb y2433 ff76 fs6 fc1 sc0 ls27 ws43\">balance sheet<span class=\"_ _314\"> </span></td><td class=\"c xf01 y2434 w8fa h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls5f ws84\">defaul<span class=\"_ _2\"></span>t</div><div class=\"t m0 xf00 h199 y2120 ff76 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xec9 hb y2433 ff76 fs6 fc1 sc0 ls27 ws45\">amount<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y2435 w6ff h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls26 ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 202<span class=\"_ _0\"></span>4<span class=\"_ _314\"> </span></div></td><td class=\"c n xf02 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf03 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf04 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf05 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf06 y2435 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2072 w8fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> assets</div><div class=\"t m0 xecf h194 y20d4 ff76 fs12a fc1 sc0 ls11a ws3\">2, 3<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a4 y2072 w8fc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">1,<span class=\"_ _2\"></span>80<span class=\"_ _2\"></span>4,27<span class=\"_ _2\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n xf07 y2072 w8fd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls61 ws86\">(<span class=\"_ _2\"></span>1,7<span class=\"_ _2\"></span>99,90<span class=\"_ _2\"></span>4)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf08 y2072 w8fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,<span class=\"_ _2\"></span>367<span class=\"_ _314\"> </span></div></td><td class=\"c n xf09 y2072 w8ff h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(4,<span class=\"_ _2\"></span>36<span class=\"_ _2\"></span>7<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0a y2072 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2073 w8df h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Reverse r<span class=\"_ _0\"></span>epurchase agreements</div><div class=\"t m0 xa46 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x8d7 y2073 w900 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">686,211<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0b y2073 w901 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">(9<span class=\"_ _2\"></span>6,023<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0c y2073 w7b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0d y2073 w741 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">(59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0e y2073 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2065 w8e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeef y2065 w902 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n xf0f y2065 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf10 y2065 w903 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsab wsd4\">86<span class=\"_ _314\"> </span></div></td><td class=\"c n xf11 y2065 w268 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(48<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf12 y2065 w33f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2066 we3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xf13 y2066 w516 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">2,49<span class=\"_ _2\"></span>0,568<span class=\"_ _314\"> </span></div></td><td class=\"c n xf14 y2066 w904 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">(1<span class=\"_ _2\"></span>,895,927)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf15 y2066 w905 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>41<span class=\"_ _314\"> </span></div></td><td class=\"c n xf16 y2066 w906 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsac wsd7\">(594,603)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf17 y2066 w117 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y214c w907 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Other f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> liabilities</div><div class=\"t m0 xee4 h194 y20d4 ff76 fs12a fc1 sc0 ls11a ws3\">2, 3<span class=\"_ _314\"> </span></div></td><td class=\"c n x8a4 y214c w908 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls88 wsb4\">(1,819,018)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf18 y214c w909 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls73 ws9c\">1<span class=\"_ _2\"></span>,8<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>4,6<span class=\"_ _2\"></span>51<span class=\"_ _314\"> </span></div></td><td class=\"c n xf19 y214c w90a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(4,<span class=\"_ _2\"></span>367<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1a y214c w8fe h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">4,3<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1b y214c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2075 w8ef h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Repurchase<span class=\"_ _0\"></span> agreements</div><div class=\"t m0 xeea h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x4b3 y2075 w90b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">(686,211)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1c y2075 w90c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">9<span class=\"_ _2\"></span>6,02<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1d y2075 w741 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">(59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>88<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1e y2075 w90d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">59<span class=\"_ _2\"></span>0,1<span class=\"_ _2\"></span>8<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xf1f y2075 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2068 w8e4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Derivati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ruments</div><div class=\"t m0 xed9 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"c n xeda y2068 w90e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">(<span class=\"_ _2\"></span>75)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf20 y2068 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf21 y2068 w1e9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws9f\">(<span class=\"_ _2\"></span>75)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf22 y2068 w6b2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb8 wse8\">48<span class=\"_ _314\"> </span></div></td><td class=\"c n xf23 y2068 w90f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">(27<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w10e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xf24 y2069 w910 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(2,505,304)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf25 y2069 w911 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>0<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td><td class=\"c n xf26 y2069 w912 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>594<span class=\"_ _2\"></span>,63<span class=\"_ _2\"></span>0)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf27 y2069 w913 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">59<span class=\"_ _2\"></span>4,60<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></div></td><td class=\"c n xf28 y2069 w90f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls71 ws9a\">(27<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>T<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup\u2019s C<span class=\"_ _2\"></span>CP com<span class=\"_ _2\"></span>pan<span class=\"_ _2\"></span>ies a<span class=\"_ _2\"></span>ct a<span class=\"_ _2\"></span>s pr<span class=\"_ _2\"></span>inci<span class=\"_ _2\"></span>pal a<span class=\"_ _2\"></span>nd si<span class=\"_ _2\"></span>t in t<span class=\"_ _2\"></span>he mi<span class=\"_ _2\"></span>ddl<span class=\"_ _2\"></span>e of me<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>rs\u2019 t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ons a<span class=\"_ _2\"></span>nd ho<span class=\"_ _2\"></span>ld de<span class=\"_ _2\"></span>fau<span class=\"_ _2\"></span>lt fu<span class=\"_ _2\"></span>nd<span class=\"_ _2\"></span>s and ma<span class=\"_ _2\"></span>rgi<span class=\"_ _2\"></span>n amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s as a c<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>ing<span class=\"_ _2\"></span>enc<span class=\"_ _2\"></span>y ag<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>st t<span class=\"_ _2\"></span>he de<span class=\"_ _2\"></span>faul<span class=\"_ _2\"></span>t of a m<span class=\"_ _2\"></span>emb<span class=\"_ _2\"></span>er. As s<span class=\"_ _2\"></span>uch<span class=\"_ _2\"></span>, fur<span class=\"_ _2\"></span>ther<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> are available t<span class=\"_ _0\"></span>o offset in the event<span class=\"_ _0\"></span> of a<span class=\"_ _0\"></span> default reducing the asset<span class=\"_ _0\"></span> and liability to nil.<span class=\"_ _0\"></span> The Group is<span class=\"_ _0\"></span> subject to master netting arrangements in f<span class=\"_ _0\"></span>orce with financial counterparties with whom the Group<span class=\"_ _0\"></span> trades derivat<span class=\"_ _2\"></span>ives.<span class=\"_ _0\"></span> The master netting arrangements determine the proceedings<span class=\"_ _0\"></span> should either part<span class=\"_ _2\"></span>y de<span class=\"_ _0\"></span>fault on their obligations. In<span class=\"_ _0\"></span> the event of<span class=\"_ _0\"></span> default, the non-<span class=\"_ _2\"></span>defaulting party will calculate<span class=\"_ _0\"></span> the sum of<span class=\"_ _0\"></span> the replacement cost<span class=\"_ _0\"></span> of outst<span class=\"_ _2\"></span>anding<span class=\"_ _0\"></span> transac<span class=\"_ _2\"></span>tions and<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> to be settled.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>Offset amounts are clearing<span class=\"_ _0\"></span> member trading assets and trading liabilities<span class=\"_ _0\"></span> wi<span class=\"_ _2\"></span>thin<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> CCP businesses\u2019<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> instrum<span class=\"_ _2\"></span>ents.<span class=\"_ _314\"> </span>3 <span class=\"_ _7\"> </span>T<span class=\"_ _2\"></span>he im<span class=\"_ _2\"></span>bal<span class=\"_ _2\"></span>ance b<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>wee<span class=\"_ _2\"></span>n gro<span class=\"_ _2\"></span>ss an<span class=\"_ _2\"></span>d of<span class=\"_ _2\"></span>fse<span class=\"_ _2\"></span>t amo<span class=\"_ _2\"></span>unt<span class=\"_ _2\"></span>s is c<span class=\"_ _2\"></span>aus<span class=\"_ _2\"></span>ed by t<span class=\"_ _2\"></span>he exc<span class=\"_ _2\"></span>lus<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f var<span class=\"_ _2\"></span>iat<span class=\"_ _2\"></span>ion m<span class=\"_ _2\"></span>arg<span class=\"_ _2\"></span>in pa<span class=\"_ _2\"></span>yab<span class=\"_ _2\"></span>le an<span class=\"_ _2\"></span>d rece<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>ble t<span class=\"_ _2\"></span>o and f<span class=\"_ _2\"></span>rom t<span class=\"_ _2\"></span>he me<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>rs o<span class=\"_ _2\"></span>n cle<span class=\"_ _2\"></span>ari<span class=\"_ _2\"></span>ng ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>es.<span class=\"_ _314\"> </span>4 <span class=\"_ _7\"> </span>Balance ex<span class=\"_ _0\"></span>cludes embedded derivatives<span class=\"_ _314\"> </span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfOffsettingOfFinancialAssetsAndFinancialLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-553": {
   "value": "18. Share capital, sha<span class=\"_ _0\"></span>re premiu<span class=\"_ _0\"></span>m and other res<span class=\"_ _0\"></span>er<span class=\"_ _2\"></span>ves<span class=\"_ _314\"> </span>This n<span class=\"_ _2\"></span>ote detai<span class=\"_ _2\"></span>ls our s<span class=\"_ _2\"></span>hare cap<span class=\"_ _2\"></span>ital<span class=\"_ _2\"></span>, share pre<span class=\"_ _2\"></span>mium an<span class=\"_ _2\"></span>d othe<span class=\"_ _2\"></span>r reser<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span> Dur<span class=\"_ _2\"></span>ing th<span class=\"_ _2\"></span>e year, a numb<span class=\"_ _2\"></span>er of share<span class=\"_ _2\"></span>s were rep<span class=\"_ _2\"></span>urchas<span class=\"_ _2\"></span>ed unde<span class=\"_ _2\"></span>r our sha<span class=\"_ _2\"></span>re<span class=\"_ _314\"> </span> buyb<span class=\"_ _2\"></span>ack programmes<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>  <span class=\"_ _e4\"> </span>Accounting policy<span class=\"_ _314\"> </span>The <span class=\"ff75 lsc ws41\">share capital</span><span class=\"ws3\"> of t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y is th<span class=\"_ _2\"></span>e numb<span class=\"_ _2\"></span>er of sh<span class=\"_ _2\"></span>ares in i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span> </span>at their par<span class=\"_ _0\"></span> value. It consist<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of balances r<span class=\"_ _0\"></span>elating to the Company\u2019s ordinar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y shares, own<span class=\"_ _0\"></span> shares held by<span class=\"_ _0\"></span> the Employee Benefit T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st an<span class=\"_ _2\"></span>d any t<span class=\"_ _2\"></span>reasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y share<span class=\"_ _2\"></span>s held by t<span class=\"_ _2\"></span>he C<span class=\"_ _2\"></span>ompa<span class=\"_ _2\"></span>ny<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Sha<span class=\"_ _2\"></span>res acq<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>d by the C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e open m<span class=\"_ _2\"></span>arket a<span class=\"_ _2\"></span>s par<span class=\"_ _2\"></span>t of sha<span class=\"_ _2\"></span>re buy<span class=\"_ _2\"></span>bac<span class=\"_ _2\"></span>k prog<span class=\"_ _2\"></span>ram<span class=\"_ _2\"></span>mes are re<span class=\"_ _2\"></span>ferred t<span class=\"_ _2\"></span>o as tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y sh<span class=\"_ _2\"></span>ares a<span class=\"_ _2\"></span>nd are h<span class=\"_ _2\"></span>eld by t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Th<span class=\"_ _2\"></span>e consi<span class=\"_ _2\"></span>der<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>n paya<span class=\"_ _2\"></span>ble i<span class=\"_ _2\"></span>s dedu<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ed fro<span class=\"_ _2\"></span>m reta<span class=\"_ _2\"></span>ined e<span class=\"_ _2\"></span>arni<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>. The pa<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of pur<span class=\"_ _2\"></span>chase<span class=\"_ _2\"></span>d tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res is re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d as a tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>fer fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e Comp<span class=\"_ _2\"></span>any<span class=\"_ _2\"></span>\u2019s ordi<span class=\"_ _2\"></span>nar<span class=\"_ _2\"></span>y eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res to t<span class=\"_ _2\"></span>reasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y share<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>hin s<span class=\"_ _2\"></span>hare ca<span class=\"_ _2\"></span>pit<span class=\"_ _2\"></span>al. N<span class=\"_ _2\"></span>o gain o<span class=\"_ _2\"></span>r los<span class=\"_ _2\"></span>s is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed by t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>ny in th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent on t<span class=\"_ _2\"></span>he pur<span class=\"_ _2\"></span>chas<span class=\"_ _2\"></span>e, sale<span class=\"_ _2\"></span>, issu<span class=\"_ _2\"></span>e or ca<span class=\"_ _2\"></span>ncell<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on of th<span class=\"_ _2\"></span>e Com<span class=\"_ _2\"></span>pany<span class=\"_ _2\"></span>\u2019s tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res or of o<span class=\"_ _2\"></span>wn sha<span class=\"_ _2\"></span>res hel<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Empl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it Trus<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span>When the Company issues new<span class=\"_ _0\"></span> shares to<span class=\"_ _0\"></span> the Employee Benefit T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st at p<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>, t<span class=\"_ _2\"></span>he sha<span class=\"_ _2\"></span>re cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l of the C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any is i<span class=\"_ _2\"></span>ncrea<span class=\"_ _2\"></span>sed by t<span class=\"_ _2\"></span>he par value of<span class=\"_ _0\"></span> these own shares, and<span class=\"_ _0\"></span> a corresponding deduction or debit is r<span class=\"_ _0\"></span>ecorded in the shar<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-based payment reserve.<span class=\"_ _314\"> </span>The C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any may a<span class=\"_ _2\"></span>lso i<span class=\"_ _2\"></span>ssue n<span class=\"_ _2\"></span>ew shar<span class=\"_ _2\"></span>es to th<span class=\"_ _2\"></span>e Empl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span> T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>ust to<span class=\"_ _0\"></span> satis<span class=\"_ _2\"></span>fy vest<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> of specif<span class=\"_ _2\"></span>ic employ<span class=\"_ _0\"></span>ee share schemes. The<span class=\"_ _2\"></span>se sha<span class=\"_ _2\"></span>res may b<span class=\"_ _2\"></span>e issu<span class=\"_ _2\"></span>ed at a s<span class=\"_ _2\"></span>ubsc<span class=\"_ _2\"></span>ript<span class=\"_ _2\"></span>ion p<span class=\"_ _2\"></span>rice a<span class=\"_ _2\"></span>bove pa<span class=\"_ _2\"></span>r value, re<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>lectin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> the option cost payable by the participant in the employee shar<span class=\"_ _0\"></span>e scheme. In such<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ances,<span class=\"_ _0\"></span> the share capital of the Company is incr<span class=\"_ _0\"></span>eased by the par value<span class=\"_ _0\"></span> of these own shar<span class=\"_ _0\"></span>es and the difference between the subscription price and<span class=\"_ _0\"></span> the par value is<span class=\"_ _0\"></span> recorded in<span class=\"_ _0\"></span> share<span class=\"_ _0\"></span> premium. A c<span class=\"_ _0\"></span>orresponding deduction or debit is r<span class=\"_ _0\"></span>ecognised in the share-based payment reser<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls4 ws2b gs6db\">18.1 Ordinary share capital issued and fully paid<span class=\"_ _314\"> </span></div><div class=\"gs4cb\"><table class=\"s w914 h298\" id=\"_90258ba5-fc09-4dd1-9e5c-ddc77fa82e06\"><tr><td></td><td class=\"t m0 x426 h13 y2436 ff75 fs6 fc1 sc0 ls26 ws3\">Nu<span class=\"_ _2\"></span>mber o<span class=\"_ _2\"></span>f<span class=\"_ _314\"> </span></td><td class=\"t m0 x2ce h13 y2436 ff75 fs6 fc1 sc0 lse5 ws125\">Ordinar<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></td><td class=\"t m0 xbaa h13 y2436 ff75 fs6 fc1 sc0 ls7f wsac\">Share<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"c xf2a y2437 w915 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls12 ws81\">shares</div><div class=\"t m0 xf29 h1c4 y20b0 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c xf2c y2437 w916 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls110 ws7\">share capital</div><div class=\"t m0 xf2b h1c4 y20b0 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c x2d6 y2437 w917 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lse5 ws125\">premium</div><div class=\"t m0 xf2d h1c4 y20b0 ff75 fs12b fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x25c h13 y2438 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"c n xf2e y2439 w435 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lse5 ws125\">millions<span class=\"_ _314\"> </span></div></td><td class=\"c n xf2f y2439 w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf30 y2439 w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf31 y2439 w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218c w12c h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n xf32 y218c w66a h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">541<span class=\"_ _314\"> </span></div></td><td class=\"c n xf33 y218c w33f h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td><td class=\"c n xf34 y218c w918 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">97<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xf35 y218c w919 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6f ws99\">1<span class=\"_ _2\"></span>,016<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b6 w91a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Share buyback<span class=\"_ _314\"> </span></div></td><td class=\"c n xf36 y21b6 w159 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls75 ws9e\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf37 y21b6 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf38 y21b6 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf39 y21b6 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y213c w91b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Is<span class=\"_ _2\"></span>sue of s<span class=\"_ _2\"></span>hare<span class=\"_ _2\"></span>s to the E<span class=\"_ _2\"></span>mpl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t</div><div class=\"t m0 xf3a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n xb44 y213c w2df h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xf3b y213c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf3c y213c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf3d y213c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w15d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n xf3e y213d w24d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8 ws5\">531<span class=\"_ _314\"> </span></div></td><td class=\"c n xf3f y213d w117 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td><td class=\"c n xf40 y213d w11a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">97<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xf41 y213d w919 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6f ws99\">1<span class=\"_ _2\"></span>,016<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w91a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Share buyback<span class=\"_ _314\"> </span></div></td><td class=\"c n x860 y20d9 w13b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">(22)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf42 y20d9 w680 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf43 y20d9 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf44 y20d9 wa0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y20da w91b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Is<span class=\"_ _2\"></span>sue of s<span class=\"_ _2\"></span>hare<span class=\"_ _2\"></span>s to the E<span class=\"_ _2\"></span>mpl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t</div><div class=\"t m0 xf3a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n xf45 y2068 w55 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xf46 y2068 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf47 y2068 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf48 y2068 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xac8 y2069 w4bb h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb5 wse3\">51<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xf49 y2069 w116 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls7b wse0\">37<span class=\"_ _314\"> </span></div></td><td class=\"c n xf4a y2069 w7a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls71 ws9a\">978<span class=\"_ _314\"> </span></div></td><td class=\"c n x2bb y2069 w91c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">1,01<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs6dc\">1 <span class=\"_ _c\"> </span>O<span class=\"_ _2\"></span>rdi<span class=\"_ _2\"></span>nar<span class=\"_ _2\"></span>y sh<span class=\"_ _2\"></span>are c<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal c<span class=\"_ _2\"></span>ons<span class=\"_ _2\"></span>ist<span class=\"_ _2\"></span>s of 5<span class=\"_ _2\"></span>31<span class=\"_ _2\"></span>,8<span class=\"_ _2\"></span>59,674 o<span class=\"_ _2\"></span>rdin<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res o<span class=\"_ _2\"></span>f 6 79/8<span class=\"_ _2\"></span>6 pe<span class=\"_ _2\"></span>nce. A<span class=\"_ _2\"></span>t 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup h<span class=\"_ _2\"></span>eld 2<span class=\"_ _2\"></span>1,4<span class=\"_ _2\"></span>51,5<span class=\"_ _2\"></span>99 (2024: 1<span class=\"_ _2\"></span>2,122,1<span class=\"_ _2\"></span>06<span class=\"_ _2\"></span>) tre<span class=\"_ _2\"></span>asu<span class=\"_ _2\"></span>ry s<span class=\"_ _2\"></span>har<span class=\"_ _2\"></span>es wh<span class=\"_ _2\"></span>ich we<span class=\"_ _2\"></span>re ac<span class=\"_ _2\"></span>quir<span class=\"_ _2\"></span>ed as p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>t </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs6dd\">of i<span class=\"_ _2\"></span>ts s<span class=\"_ _2\"></span>hare b<span class=\"_ _2\"></span>uy<span class=\"_ _2\"></span>bac<span class=\"_ _2\"></span>k pro<span class=\"_ _2\"></span>gra<span class=\"_ _2\"></span>mme a<span class=\"_ _2\"></span>nd 1,<span class=\"_ _2\"></span>39<span class=\"_ _2\"></span>8,<span class=\"_ _2\"></span>42<span class=\"_ _0\"></span>4 (<span class=\"_ _2\"></span>2024: 1,6<span class=\"_ _2\"></span>05<span class=\"_ _2\"></span>,133<span class=\"_ _2\"></span>) sha<span class=\"_ _2\"></span>res we<span class=\"_ _2\"></span>re he<span class=\"_ _2\"></span>ld by t<span class=\"_ _2\"></span>he Em<span class=\"_ _2\"></span>plo<span class=\"_ _2\"></span>yee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6de\">2 <span class=\"_ _7\"> </span>Shar<span class=\"_ _0\"></span>e premium is<span class=\"_ _0\"></span> the amount subscribed f<span class=\"_ _0\"></span>or share<span class=\"_ _0\"></span> capit<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> in excess<span class=\"_ _0\"></span> of par<span class=\"_ _0\"></span> value.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs6df\">3 <span class=\"_ _7\"> </span>T<span class=\"_ _2\"></span>he Bo<span class=\"_ _2\"></span>ard a<span class=\"_ _2\"></span>ppr<span class=\"_ _2\"></span>oved t<span class=\"_ _2\"></span>he al<span class=\"_ _2\"></span>lot<span class=\"_ _2\"></span>me<span class=\"_ _2\"></span>nt an<span class=\"_ _2\"></span>d iss<span class=\"_ _2\"></span>ue of 12<span class=\"_ _2\"></span>0,2<span class=\"_ _2\"></span>31 or<span class=\"_ _2\"></span>din<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res a<span class=\"_ _2\"></span>t par to t<span class=\"_ _2\"></span>he Em<span class=\"_ _2\"></span>pl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>ene<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st (<span class=\"_ _2\"></span>2024: 176<span class=\"_ _2\"></span>,7<span class=\"_ _2\"></span>77 o<span class=\"_ _2\"></span>rdin<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y sh<span class=\"_ _2\"></span>ares a<span class=\"_ _2\"></span>t par<span class=\"_ _2\"></span>) and t<span class=\"_ _2\"></span>he t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sfe<span class=\"_ _2\"></span>r of 96<span class=\"_ _2\"></span>5,0<span class=\"_ _2\"></span>00 t<span class=\"_ _2\"></span>rea<span class=\"_ _2\"></span>sur<span class=\"_ _2\"></span>y sh<span class=\"_ _2\"></span>ares<span class=\"_ _2\"></span> </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs6e0\">(20<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4: 1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>375<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0) to s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle e<span class=\"_ _2\"></span>mpl<span class=\"_ _2\"></span>oye<span class=\"_ _2\"></span>e sha<span class=\"_ _2\"></span>re pla<span class=\"_ _2\"></span>ns.<span class=\"_ _314\"> </span></div>Share buyback<span class=\"_ _314\"> </span>Du<span class=\"_ _2\"></span>ring 2025, t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>ny repu<span class=\"_ _2\"></span>rchas<span class=\"_ _2\"></span>ed 22.1 mi<span class=\"_ _2\"></span>llion o<span class=\"_ _2\"></span>f it<span class=\"_ _2\"></span>s own s<span class=\"_ _2\"></span>hares in the mark<span class=\"_ _0\"></span>et under Board-app<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>oved share<span class=\"_ _0\"></span> bu<span class=\"_ _2\"></span>yback programmes. Of these, 11.8 million shares w<span class=\"_ _0\"></span>ere cancelled and<span class=\"_ _0\"></span> the remainder are being held as<span class=\"_ _0\"></span> treasur<span class=\"_ _2\"></span>y shar<span class=\"_ _0\"></span>es.<span class=\"_ _314\"> </span>In November 2<span class=\"_ _0\"></span>025,<span class=\"_ _0\"></span> the Company entered int<span class=\"_ _0\"></span>o an irrevocable agr<span class=\"_ _0\"></span>eement with it<span class=\"_ _2\"></span>s corporate<span class=\"_ _0\"></span> broker t<span class=\"_ _0\"></span>o repurchase further shares, including purchases during the Group\u2019<span class=\"_ _0\"></span>s close period from<span class=\"_ _0\"></span> 1 Januar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>6 until the announcement of t<span class=\"_ _2\"></span>he 2025 full<span class=\"_ _2\"></span>-ye<span class=\"_ _2\"></span>ar resu<span class=\"_ _2\"></span>lt<span class=\"_ _2\"></span>s. At 3<span class=\"_ _2\"></span>1 De<span class=\"_ _2\"></span>cembe<span class=\"_ _2\"></span>r 2025, the o<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>and<span class=\"_ _2\"></span>ing ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tion i<span class=\"_ _2\"></span>n relat<span class=\"_ _2\"></span>ion t<span class=\"_ _2\"></span>o this c<span class=\"_ _2\"></span>ommi<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent wa<span class=\"_ _2\"></span>s \u00a3417 mil<span class=\"_ _2\"></span>lion a<span class=\"_ _2\"></span>nd is re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised<span class=\"_ _2\"></span> within payables (see note<span class=\"_ _0\"></span> 15). Since the r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date, the Company repurchased 5<span class=\"_ _0\"></span> million shares<span class=\"_ _0\"></span> for \u00a34<span class=\"_ _0\"></span>17 million and the sh<span class=\"_ _0\"></span>ares were<span class=\"_ _0\"></span> cancelled<span class=\"_ _314\"> <span class=\"_ _314\"> </span></span><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs6f2\">Retained earnings r<span class=\"_ _0\"></span>educed by \u00a32,497<span class=\"_ _0\"></span> million in the y<span class=\"_ _0\"></span>ear due to<span class=\"_ _0\"></span> share </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls5 ws5 gs6f3\">buyback act<span class=\"_ _2\"></span>ivit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. This r<span class=\"_ _0\"></span>efle<span class=\"_ _2\"></span>cts:</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs6f4\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">\u00a32,068 million to r<span class=\"_ _0\"></span>epurchase 22.<span class=\"_ _0\"></span>1 million or<span class=\"_ _0\"></span>dinar<span class=\"_ _2\"></span>y shares<span class=\"_ _0\"></span> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs6f5\">(\u00a3<span class=\"_ _2\"></span>2,<span class=\"_ _0\"></span>06<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span> million in cash and<span class=\"_ _0\"></span> \u00a38 million payable in January 20<span class=\"_ _0\"></span>26);</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs6f6\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">total costs direct<span class=\"_ _2\"></span>ly attribu<span class=\"_ _2\"></span>table t<span class=\"_ _0\"></span>o these repurchases<span class=\"_ _0\"></span> of \u00a312 million </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs6f7\">(i<span class=\"_ _2\"></span>n cash)<span class=\"_ _2\"></span>; and</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs6f8\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">\u00a3417<span class=\"_ _0\"></span> million recognised f<span class=\"_ _0\"></span>or the irrevocable commitment.<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs6f9\">Du<span class=\"_ _2\"></span>ring 2024, th<span class=\"_ _2\"></span>e Com<span class=\"_ _2\"></span>pany exe<span class=\"_ _2\"></span>cute<span class=\"_ _2\"></span>d tw<span class=\"_ _2\"></span>o dire<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d share b<span class=\"_ _2\"></span>uy<span class=\"_ _2\"></span>back<span class=\"_ _2\"></span>s </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs6fa\">totalling \u00a31,000 million, through the acquisition of sh<span class=\"_ _0\"></span>ares from the f<span class=\"_ _0\"></span>ormer </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs6fb\">Refinit<span class=\"_ _2\"></span>iv shar<span class=\"_ _0\"></span>eholders<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs6fc\">We pla<span class=\"_ _2\"></span>n to execu<span class=\"_ _2\"></span>te an ord<span class=\"_ _2\"></span>inar<span class=\"_ _2\"></span>y s<span class=\"_ _2\"></span>hare bu<span class=\"_ _2\"></span>yb<span class=\"_ _2\"></span>ack of \u00a3<span class=\"_ _2\"></span>3 bi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n, whi<span class=\"_ _2\"></span>ch wi<span class=\"_ _2\"></span>ll </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs6fd\">com<span class=\"_ _2\"></span>mence a<span class=\"_ _2\"></span>s soo<span class=\"_ _2\"></span>n as is pr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tic<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e and is e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d to be co<span class=\"_ _2\"></span>mple<span class=\"_ _2\"></span>ted </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs6fe\">by F<span class=\"_ _2\"></span>ebru<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y 2027<span class=\"_ _3\"></span>.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-534": {
   "value": "This n<span class=\"_ _2\"></span>ote detai<span class=\"_ _2\"></span>ls our s<span class=\"_ _2\"></span>hare cap<span class=\"_ _2\"></span>ital<span class=\"_ _2\"></span>, share pre<span class=\"_ _2\"></span>mium an<span class=\"_ _2\"></span>d othe<span class=\"_ _2\"></span>r reser<span class=\"_ _2\"></span>ves<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Dur<span class=\"_ _2\"></span>ing th<span class=\"_ _2\"></span>e year, a numb<span class=\"_ _2\"></span>er of share<span class=\"_ _2\"></span>s were rep<span class=\"_ _2\"></span>urchas<span class=\"_ _2\"></span>ed unde<span class=\"_ _2\"></span>r our sha<span class=\"_ _2\"></span>re<span class=\"_ _314\"> </span>buyb<span class=\"_ _2\"></span>ack programmes<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>The <span class=\"ff75 lsc ws41\">share capital</span><span class=\"ws3\"> of t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y is th<span class=\"_ _2\"></span>e numb<span class=\"_ _2\"></span>er of sh<span class=\"_ _2\"></span>ares in i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span> </span>at their par<span class=\"_ _0\"></span> value. It consist<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of balances r<span class=\"_ _0\"></span>elating to the Company\u2019s ordinar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y shares, own<span class=\"_ _0\"></span> shares held by<span class=\"_ _0\"></span> the Employee Benefit T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st an<span class=\"_ _2\"></span>d any t<span class=\"_ _2\"></span>reasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y share<span class=\"_ _2\"></span>s held by t<span class=\"_ _2\"></span>he C<span class=\"_ _2\"></span>ompa<span class=\"_ _2\"></span>ny<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>Sha<span class=\"_ _2\"></span>res acq<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>d by the C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e open m<span class=\"_ _2\"></span>arket a<span class=\"_ _2\"></span>s par<span class=\"_ _2\"></span>t of sha<span class=\"_ _2\"></span>re buy<span class=\"_ _2\"></span>bac<span class=\"_ _2\"></span>k prog<span class=\"_ _2\"></span>ram<span class=\"_ _2\"></span>mes are re<span class=\"_ _2\"></span>ferred t<span class=\"_ _2\"></span>o as tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y sh<span class=\"_ _2\"></span>ares a<span class=\"_ _2\"></span>nd are h<span class=\"_ _2\"></span>eld by t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Th<span class=\"_ _2\"></span>e consi<span class=\"_ _2\"></span>der<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>n paya<span class=\"_ _2\"></span>ble i<span class=\"_ _2\"></span>s dedu<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ed fro<span class=\"_ _2\"></span>m reta<span class=\"_ _2\"></span>ined e<span class=\"_ _2\"></span>arni<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>. The pa<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of pur<span class=\"_ _2\"></span>chase<span class=\"_ _2\"></span>d tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res is re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d as a tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>fer fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e Comp<span class=\"_ _2\"></span>any<span class=\"_ _2\"></span>\u2019s ordi<span class=\"_ _2\"></span>nar<span class=\"_ _2\"></span>y eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res to t<span class=\"_ _2\"></span>reasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y share<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>hin s<span class=\"_ _2\"></span>hare ca<span class=\"_ _2\"></span>pit<span class=\"_ _2\"></span>al. N<span class=\"_ _2\"></span>o gain o<span class=\"_ _2\"></span>r los<span class=\"_ _2\"></span>s is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed by t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>ny in th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent on t<span class=\"_ _2\"></span>he pur<span class=\"_ _2\"></span>chas<span class=\"_ _2\"></span>e, sale<span class=\"_ _2\"></span>, issu<span class=\"_ _2\"></span>e or ca<span class=\"_ _2\"></span>ncell<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on of th<span class=\"_ _2\"></span>e Com<span class=\"_ _2\"></span>pany<span class=\"_ _2\"></span>\u2019s tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res or of o<span class=\"_ _2\"></span>wn sha<span class=\"_ _2\"></span>res hel<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Empl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it Trus<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span>When the Company issues new<span class=\"_ _0\"></span> shares to<span class=\"_ _0\"></span> the Employee Benefit T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st at p<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>, t<span class=\"_ _2\"></span>he sha<span class=\"_ _2\"></span>re cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l of the C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any is i<span class=\"_ _2\"></span>ncrea<span class=\"_ _2\"></span>sed by t<span class=\"_ _2\"></span>he par value of<span class=\"_ _0\"></span> these own shares, and<span class=\"_ _0\"></span> a corresponding deduction or debit is r<span class=\"_ _0\"></span>ecorded in the shar<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-based payment reserve.<span class=\"_ _314\"> </span>The C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any may a<span class=\"_ _2\"></span>lso i<span class=\"_ _2\"></span>ssue n<span class=\"_ _2\"></span>ew shar<span class=\"_ _2\"></span>es to th<span class=\"_ _2\"></span>e Empl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span> T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>ust to<span class=\"_ _0\"></span> satis<span class=\"_ _2\"></span>fy vest<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> of specif<span class=\"_ _2\"></span>ic employ<span class=\"_ _0\"></span>ee share schemes. The<span class=\"_ _2\"></span>se sha<span class=\"_ _2\"></span>res may b<span class=\"_ _2\"></span>e issu<span class=\"_ _2\"></span>ed at a s<span class=\"_ _2\"></span>ubsc<span class=\"_ _2\"></span>ript<span class=\"_ _2\"></span>ion p<span class=\"_ _2\"></span>rice a<span class=\"_ _2\"></span>bove pa<span class=\"_ _2\"></span>r value, re<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>lectin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> the option cost payable by the participant in the employee shar<span class=\"_ _0\"></span>e scheme. In such<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ances,<span class=\"_ _0\"></span> the share capital of the Company is incr<span class=\"_ _0\"></span>eased by the par value<span class=\"_ _0\"></span> of these own shar<span class=\"_ _0\"></span>es and the difference between the subscription price and<span class=\"_ _0\"></span> the par value is<span class=\"_ _0\"></span> recorded in<span class=\"_ _0\"></span> share<span class=\"_ _0\"></span> premium. A c<span class=\"_ _0\"></span>orresponding deduction or debit is r<span class=\"_ _0\"></span>ecognised in the share-based payment reser<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span>18.1 Ordinary share capital issued and fully paid<span class=\"_ _314\"> </span><table class=\"s w914 h298\" id=\"_90258ba5-fc09-4dd1-9e5c-ddc77fa82e06\"><tr><td></td><td class=\"t m0 x426 h13 y2436 ff75 fs6 fc1 sc0 ls26 ws3\">Nu<span class=\"_ _2\"></span>mber o<span class=\"_ _2\"></span>f<span class=\"_ _314\"> </span></td><td class=\"t m0 x2ce h13 y2436 ff75 fs6 fc1 sc0 lse5 ws125\">Ordinar<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span></td><td class=\"t m0 xbaa h13 y2436 ff75 fs6 fc1 sc0 ls7f wsac\">Share<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td class=\"c xf2a y2437 w915 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls12 ws81\">shares</div><div class=\"t m0 xf29 h1c4 y20b0 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c xf2c y2437 w916 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls110 ws7\">share capital</div><div class=\"t m0 xf2b h1c4 y20b0 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c x2d6 y2437 w917 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lse5 ws125\">premium</div><div class=\"t m0 xf2d h1c4 y20b0 ff75 fs12b fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x25c h13 y2438 ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"c n xf2e y2439 w435 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 lse5 ws125\">millions<span class=\"_ _314\"> </span></div></td><td class=\"c n xf2f y2439 w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf30 y2439 w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf31 y2439 w34 h21b\"><div class=\"t m0 x1e4 h13 y20af ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218c w12c h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n xf32 y218c w66a h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">541<span class=\"_ _314\"> </span></div></td><td class=\"c n xf33 y218c w33f h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td><td class=\"c n xf34 y218c w918 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">97<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xf35 y218c w919 h21c\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6f ws99\">1<span class=\"_ _2\"></span>,016<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b6 w91a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Share buyback<span class=\"_ _314\"> </span></div></td><td class=\"c n xf36 y21b6 w159 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls75 ws9e\">(11)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf37 y21b6 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf38 y21b6 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf39 y21b6 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y213c w91b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Is<span class=\"_ _2\"></span>sue of s<span class=\"_ _2\"></span>hare<span class=\"_ _2\"></span>s to the E<span class=\"_ _2\"></span>mpl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t</div><div class=\"t m0 xf3a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n xb44 y213c w2df h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xf3b y213c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf3c y213c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf3d y213c w6a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w15d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n xf3e y213d w24d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8 ws5\">531<span class=\"_ _314\"> </span></div></td><td class=\"c n xf3f y213d w117 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></div></td><td class=\"c n xf40 y213d w11a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">97<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td><td class=\"c n xf41 y213d w919 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6f ws99\">1<span class=\"_ _2\"></span>,016<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w91a h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Share buyback<span class=\"_ _314\"> </span></div></td><td class=\"c n x860 y20d9 w13b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">(22)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf42 y20d9 w680 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf43 y20d9 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf44 y20d9 wa0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y20da w91b h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">Is<span class=\"_ _2\"></span>sue of s<span class=\"_ _2\"></span>hare<span class=\"_ _2\"></span>s to the E<span class=\"_ _2\"></span>mpl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t</div><div class=\"t m0 xf3a h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">3<span class=\"_ _314\"> </span></div></td><td class=\"c n xf45 y2068 w55 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xf46 y2068 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf47 y2068 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf48 y2068 w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n xac8 y2069 w4bb h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsb5 wse3\">51<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xf49 y2069 w116 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls7b wse0\">37<span class=\"_ _314\"> </span></div></td><td class=\"c n xf4a y2069 w7a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls71 ws9a\">978<span class=\"_ _314\"> </span></div></td><td class=\"c n x2bb y2069 w91c h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">1,01<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr></table>1 <span class=\"_ _c\"> </span>O<span class=\"_ _2\"></span>rdi<span class=\"_ _2\"></span>nar<span class=\"_ _2\"></span>y sh<span class=\"_ _2\"></span>are c<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal c<span class=\"_ _2\"></span>ons<span class=\"_ _2\"></span>ist<span class=\"_ _2\"></span>s of 5<span class=\"_ _2\"></span>31<span class=\"_ _2\"></span>,8<span class=\"_ _2\"></span>59,674 o<span class=\"_ _2\"></span>rdin<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res o<span class=\"_ _2\"></span>f 6 79/8<span class=\"_ _2\"></span>6 pe<span class=\"_ _2\"></span>nce. A<span class=\"_ _2\"></span>t 31 D<span class=\"_ _2\"></span>ecem<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025, t<span class=\"_ _2\"></span>he Gr<span class=\"_ _2\"></span>oup h<span class=\"_ _2\"></span>eld 2<span class=\"_ _2\"></span>1,4<span class=\"_ _2\"></span>51,5<span class=\"_ _2\"></span>99 (2024: 1<span class=\"_ _2\"></span>2,122,1<span class=\"_ _2\"></span>06<span class=\"_ _2\"></span>) tre<span class=\"_ _2\"></span>asu<span class=\"_ _2\"></span>ry s<span class=\"_ _2\"></span>har<span class=\"_ _2\"></span>es wh<span class=\"_ _2\"></span>ich we<span class=\"_ _2\"></span>re ac<span class=\"_ _2\"></span>quir<span class=\"_ _2\"></span>ed as p<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>t of i<span class=\"_ _2\"></span>ts s<span class=\"_ _2\"></span>hare b<span class=\"_ _2\"></span>uy<span class=\"_ _2\"></span>bac<span class=\"_ _2\"></span>k pro<span class=\"_ _2\"></span>gra<span class=\"_ _2\"></span>mme a<span class=\"_ _2\"></span>nd 1,<span class=\"_ _2\"></span>39<span class=\"_ _2\"></span>8,<span class=\"_ _2\"></span>42<span class=\"_ _0\"></span>4 (<span class=\"_ _2\"></span>2024: 1,6<span class=\"_ _2\"></span>05<span class=\"_ _2\"></span>,133<span class=\"_ _2\"></span>) sha<span class=\"_ _2\"></span>res we<span class=\"_ _2\"></span>re he<span class=\"_ _2\"></span>ld by t<span class=\"_ _2\"></span>he Em<span class=\"_ _2\"></span>plo<span class=\"_ _2\"></span>yee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>2 <span class=\"_ _7\"> </span>Shar<span class=\"_ _0\"></span>e premium is<span class=\"_ _0\"></span> the amount subscribed f<span class=\"_ _0\"></span>or share<span class=\"_ _0\"></span> capit<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> in excess<span class=\"_ _0\"></span> of par<span class=\"_ _0\"></span> value.<span class=\"_ _314\"> </span>3 <span class=\"_ _7\"> </span>T<span class=\"_ _2\"></span>he Bo<span class=\"_ _2\"></span>ard a<span class=\"_ _2\"></span>ppr<span class=\"_ _2\"></span>oved t<span class=\"_ _2\"></span>he al<span class=\"_ _2\"></span>lot<span class=\"_ _2\"></span>me<span class=\"_ _2\"></span>nt an<span class=\"_ _2\"></span>d iss<span class=\"_ _2\"></span>ue of 12<span class=\"_ _2\"></span>0,2<span class=\"_ _2\"></span>31 or<span class=\"_ _2\"></span>din<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res a<span class=\"_ _2\"></span>t par to t<span class=\"_ _2\"></span>he Em<span class=\"_ _2\"></span>pl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>ene<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st (<span class=\"_ _2\"></span>2024: 176<span class=\"_ _2\"></span>,7<span class=\"_ _2\"></span>77 o<span class=\"_ _2\"></span>rdin<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y sh<span class=\"_ _2\"></span>ares a<span class=\"_ _2\"></span>t par<span class=\"_ _2\"></span>) and t<span class=\"_ _2\"></span>he t<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>sfe<span class=\"_ _2\"></span>r of 96<span class=\"_ _2\"></span>5,0<span class=\"_ _2\"></span>00 t<span class=\"_ _2\"></span>rea<span class=\"_ _2\"></span>sur<span class=\"_ _2\"></span>y sh<span class=\"_ _2\"></span>ares<span class=\"_ _2\"></span> (20<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>4: 1<span class=\"_ _2\"></span>,<span class=\"_ _2\"></span>375<span class=\"_ _2\"></span>,00<span class=\"_ _2\"></span>0) to s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle e<span class=\"_ _2\"></span>mpl<span class=\"_ _2\"></span>oye<span class=\"_ _2\"></span>e sha<span class=\"_ _2\"></span>re pla<span class=\"_ _2\"></span>ns.<span class=\"_ _314\"> </span><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls2 ws2 gs6e2\">18.<span class=\"_ _2\"></span>2 Other reserves<span class=\"_ _314\"> </span></div><div class=\"gs6e3\"><table class=\"s w91d h299\" id=\"_9b805fce-7e5f-42ed-977f-430160104823\"><tr><td></td><td></td><td class=\"t m0 xf4b h13 y243a ff75 fs6 fc1 sc0 ls9e ws43\">Merger relief<span class=\"_ _0\"></span>, capital </td><td class=\"t m0 xf4c h13 y243a ff75 fs6 fc1 sc0 ls27 ws45\">Non-<span class=\"_ _314\"> </span></td><td></td><td class=\"t m0 x2c9 h13 y243a ff75 fs6 fc1 sc0 lse5 ws125\">Foreign </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xa81 h13 y243b ff75 fs6 fc1 sc0 ls27 ws43\">redemption and<span class=\"_ _0\"></span> </td><td class=\"t m0 x76d h13 y243b ff75 fs6 fc1 sc0 lse5 ws125\">controlling </td><td></td><td class=\"t m0 xf4d h13 y243b ff75 fs6 fc1 sc0 ls27 ws45\">exchange<span class=\"_ _0\"></span> </td><td></td></tr><tr><td></td><td></td><td class=\"t m0 xb1a h13 y243c ff75 fs6 fc1 sc0 ls27 ws43\">reverse<span class=\"_ _0\"></span> acquisition<span class=\"_ _314\"> </span></td><td class=\"t m0 x81c h13 y243c ff75 fs6 fc1 sc0 ls12 ws44\">interest put<span class=\"_ _314\"> </span></td><td class=\"t m0 x772 h13 y243c ff75 fs6 fc1 sc0 ls7a wsbe\">Hedging<span class=\"_ _314\"> </span></td><td class=\"t m0 x6d5 h13 y243c ff75 fs6 fc1 sc0 ls41 ws56\">translation<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"c xf4f y243d w91e h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws81\">reserves</div><div class=\"t m0 xf4e h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1</div></td><td class=\"c xf2a y243d w91f h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls27 ws43\">option reserve</div><div class=\"t m0 xf50 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">2</div></td><td class=\"c xf52 y243d w920 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls94 wsc1\">rese<span class=\"_ _2\"></span>rve</div><div class=\"t m0 xf51 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">3</div></td><td class=\"c xf54 y243d w921 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls94 wsc1\">rese<span class=\"_ _2\"></span>rve</div><div class=\"t m0 xf53 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">4</div></td><td class=\"t m0 x25c h13 y243e ff75 fs6 fc1 sc0 lsfc ws13f\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>l<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"c n xf55 y243f w33 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xf56 h13 y2440 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 xebe h13 y2440 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 xb2c h13 y2440 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"t m0 xf57 h13 y2440 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></td><td class=\"c n xf58 y243f w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2186 w12c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xf59 y2186 w922 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">1<span class=\"_ _2\"></span>8,<span class=\"_ _2\"></span>289<span class=\"_ _314\"> </span></div></td><td class=\"c n xf5a y2186 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf5b y2186 w923 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(4<span class=\"_ _2\"></span>0)</div></td><td class=\"c n xf5c y2186 w924 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7e wsaa\">1,<span class=\"_ _2\"></span>625</div></td><td class=\"c n xf5d y2186 w925 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb4 wse2\">1<span class=\"_ _2\"></span>9,<span class=\"_ _1\"></span>8<span class=\"_ _2\"></span>74<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2187 w926 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Ne<span class=\"_ _2\"></span>t gain<span class=\"_ _2\"></span>s on net i<span class=\"_ _2\"></span>nves<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent h<span class=\"_ _2\"></span>edg<span class=\"_ _2\"></span>es<span class=\"_ _314\"> </span></div></td><td class=\"c n xf5e y2187 w927 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n xf5f y2187 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf60 y2187 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf61 y2187 w99 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 wsdb\">47<span class=\"_ _314\"> </span></div></td><td class=\"c n xf62 y2187 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf63 y2187 w99 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 wsdb\">47<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2188 w6e2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> recycled to income<span class=\"_ _0\"></span> st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _314\"> </span></div></td><td class=\"c n xf64 y2188 w928 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _1\"></span>4<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n xf65 y2188 w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf66 y2188 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf67 y2188 w5b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td><td class=\"c n xf68 y2188 w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf69 y2188 w5b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">6<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218a w929 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange differences<span class=\"_ _0\"></span> on translation of<span class=\"_ _0\"></span> foreign<span class=\"_ _0\"></span> operations<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xf6a y218a w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf6b y218a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf6c y218a w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf6d y218a w92a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls88 wsb4\">191<span class=\"_ _314\"> </span></div></td><td class=\"c n xf6e y218a w92a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls88 wsb4\">191<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218b w15d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xf6f y218b w922 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">1<span class=\"_ _2\"></span>8,<span class=\"_ _2\"></span>289<span class=\"_ _314\"> </span></div></td><td class=\"c n xf70 y218b w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf71 y218b wc3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td><td class=\"c n xf72 y218b w92b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">1,816</div></td><td class=\"c n xf73 y218b w42 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls91 wsbf\">20<span class=\"_ _2\"></span>,11<span class=\"_ _2\"></span>8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218c w92c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Net losses on<span class=\"_ _0\"></span> net investment hedges<span class=\"_ _314\"> </span></div></td><td class=\"c n xf74 y218c w927 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>4<span class=\"_ _1\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n xf75 y218c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf76 y218c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf77 y218c w195 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">(29)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf78 y218c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf79 y218c w195 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">(29)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218d w6e2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> recycled to income<span class=\"_ _0\"></span> st<span class=\"_ _2\"></span>at<span class=\"_ _0\"></span>ement<span class=\"_ _314\"> </span></div></td><td class=\"c n xf64 y218d w928 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa5 wsd1\">1<span class=\"_ _2\"></span>7.<span class=\"_ _1\"></span>4<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div></td><td class=\"c n xf65 y218d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf66 y218d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf7a y218d w41a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">(5)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf7b y218d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf7c y218d w92d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">(<span class=\"_ _2\"></span>5)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213c w929 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Foreign e<span class=\"_ _0\"></span>xchange differences<span class=\"_ _0\"></span> on translation of<span class=\"_ _0\"></span> foreign<span class=\"_ _0\"></span> operations<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xf6a y213c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf6b y213c w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf7d y213c w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013</div></td><td class=\"c n xf7e y213c w92e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">(<span class=\"_ _2\"></span>1,<span class=\"_ _2\"></span>248<span class=\"_ _2\"></span>)</div></td><td class=\"c n xf7f y213c w92f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">(1<span class=\"_ _2\"></span>,24<span class=\"_ _2\"></span>8)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w930 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Shares cancel<span class=\"_ _0\"></span>led<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xf80 y213d w55 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xf81 y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf82 y213d w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf83 y213d w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf84 y213d w55 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2176 w931 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">T<span class=\"_ _0\"></span>ransfer to<span class=\"_ _0\"></span> retained earnings</div><div class=\"t m0 xf85 h194 y2242 ff76 fs12a fc1 sc0 ls4 ws3\">5<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xf86 y213e w932 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">(1,<span class=\"_ _2\"></span>300)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf87 y213e w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf88 y213e w4f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf89 y213e w6a h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013</div></td><td class=\"c n xf8a y213e w932 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">(1,<span class=\"_ _2\"></span>300)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w933 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Put option liability for non-controlling interests\u2019 shares<span class=\"_ _314\"> </span></div></td><td class=\"c n xf8b y20da waf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wsd5\">15<span class=\"_ _314\"> </span></div></td><td class=\"c n x472 y20da w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf8c y20da w182 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(172)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf8d y20da w6a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf8e y20da w4f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xf8f y20da w934 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(17<span class=\"_ _2\"></span>2)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xf90 y2069 w935 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa9 ws7e\">16,990<span class=\"_ _314\"> </span></div></td><td class=\"c n xf91 y2069 w934 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls4 ws3\">(17<span class=\"_ _2\"></span>2)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf92 y2069 w8f3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">(21)<span class=\"_ _314\"> </span></div></td><td class=\"c n xf93 y2069 w23b h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls89 ws79\">568</div></td><td class=\"c n xf94 y2069 w11f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">1<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>3<span class=\"_ _2\"></span>6<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls29 ws190 gs6e4\">1 Includes:</div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls4 ws3 gs6e5\"> <span class=\"_ _22e\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls7 ws48\">Merger r<span class=\"_ _0\"></span>elief reserve of<span class=\"_ _0\"></span> \u00a31<span class=\"_ _2\"></span>6,986 million<span class=\"_ _0\"></span> (202<span class=\"_ _0\"></span>4: \u00a318,286 million),<span class=\"_ _0\"></span> a potentially distributable reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> arising as a<span class=\"_ _0\"></span> result of<span class=\"_ _0\"></span> shares issued t<span class=\"_ _0\"></span>o acquire s<span class=\"_ _0\"></span>ubsidiaries;</span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls4 ws3 gs6e6\"> <span class=\"_ _22e\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"ls7 ws48\">Capital redemption reserve of<span class=\"_ _0\"></span> \u00a3516 million<span class=\"_ _0\"></span> (202<span class=\"_ _0\"></span>4: \u00a35<span class=\"_ _0\"></span>15 million), a<span class=\"_ _0\"></span> reserve set up<span class=\"_ _0\"></span> as a result<span class=\"_ _0\"></span> of a c<span class=\"_ _0\"></span>our<span class=\"_ _2\"></span>t appro<span class=\"_ _0\"></span>ved capital reduction scheme and<span class=\"_ _0\"></span> is non-<span class=\"_ _2\"></span>distributable; and</span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls4 ws3 gs6e7\"> <span class=\"_ _22e\"></span>\u2013<span class=\"_ _24\"> </span><span class=\"lsb\">Reve<span class=\"_ _2\"></span>rs<span class=\"_ _2\"></span>e acqu<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>on res<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>ve of \u00a3<span class=\"_ _2\"></span>(51<span class=\"_ _2\"></span>2) mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n (2024: \u00a3<span class=\"_ _2\"></span>(512) m<span class=\"_ _2\"></span>ill<span class=\"_ _2\"></span>ion)<span class=\"_ _2\"></span>, a res<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>ve as a r<span class=\"_ _2\"></span>esul<span class=\"_ _2\"></span>t of t<span class=\"_ _2\"></span>he ac<span class=\"_ _2\"></span>qui<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion o<span class=\"_ _2\"></span>f Lond<span class=\"_ _2\"></span>on St<span class=\"_ _2\"></span>ock E<span class=\"_ _2\"></span>xch<span class=\"_ _2\"></span>ang<span class=\"_ _2\"></span>e plc i<span class=\"_ _2\"></span>n 2007. It is r<span class=\"_ _2\"></span>eco<span class=\"_ _2\"></span>gni<span class=\"_ _2\"></span>sed o<span class=\"_ _2\"></span>n con<span class=\"_ _2\"></span>sol<span class=\"_ _2\"></span>idat<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>n as a res<span class=\"_ _2\"></span>ult<span class=\"_ _2\"></span> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6e8\">of a<span class=\"_ _0\"></span> capital reduct<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> scheme and is<span class=\"_ _0\"></span> non-<span class=\"_ _2\"></span>distribut<span class=\"_ _2\"></span>able.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6e9\">2 <span class=\"_ _7\"> </span>The<span class=\"_ _0\"></span> non-<span class=\"_ _2\"></span>controlling int<span class=\"_ _0\"></span>erest put option reserve repr<span class=\"_ _0\"></span>esent<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> the Group\u2019s<span class=\"_ _0\"></span> estimate of the e<span class=\"_ _0\"></span>xpec<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> redemption amount associated with the<span class=\"_ _0\"></span> arrangement<span class=\"_ _2\"></span>s o<span class=\"_ _0\"></span>ver the non-controlling interests in LSEG </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6ea\">PTS Holdings Limited.<span class=\"_ _0\"></span> The reserve reflect<span class=\"_ _2\"></span>s the<span class=\"_ _0\"></span> present value of<span class=\"_ _0\"></span> the expected redemption amount, recognised<span class=\"_ _0\"></span> in equity.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6eb\">3 <span class=\"_ _7\"> </span>The hedging r<span class=\"_ _0\"></span>eser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> represents the cumulative fair value<span class=\"_ _0\"></span> adjustment<span class=\"_ _2\"></span>s r<span class=\"_ _0\"></span>ecognised in respect of<span class=\"_ _0\"></span> net investment and cash<span class=\"_ _0\"></span> flow hedges entered<span class=\"_ _0\"></span> into in acc<span class=\"_ _0\"></span>ordance with hedge acc<span class=\"_ _0\"></span>ounting principles. </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6ec\">It is distributable under certain circumstances. Net<span class=\"_ _0\"></span> gains and losses<span class=\"_ _0\"></span> are recognised in<span class=\"_ _0\"></span> other comprehensive<span class=\"_ _0\"></span> income and balances<span class=\"_ _0\"></span> remain in<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y until<span class=\"_ _0\"></span> both the hedging instrument and the </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6ed\">underlying instrumen<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> are derecognised. </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6ee\">4 <span class=\"_ _7\"> </span>The foreign<span class=\"_ _0\"></span> exchange<span class=\"_ _0\"></span> translat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> records the<span class=\"_ _0\"></span> cumulati<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> impact of fore<span class=\"_ _0\"></span>ign exchange<span class=\"_ _0\"></span> rate movements on the<span class=\"_ _0\"></span> translation of non-sterling subsidiary companies into<span class=\"_ _0\"></span> sterling<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> It is distributable </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6ef\">under certain circumstances. Net<span class=\"_ _0\"></span> gains and losses on<span class=\"_ _0\"></span> translation are recognised<span class=\"_ _0\"></span> in other comprehens<span class=\"_ _0\"></span>ive income and<span class=\"_ _0\"></span> amount<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> remain in<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y until the<span class=\"_ _0\"></span> subsidiar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> is derecognised.<span class=\"_ _314\"> </span></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs6f0\">5 <span class=\"_ _7\"> </span>During<span class=\"_ _0\"></span> the year<span class=\"_ _0\"></span>, reserves of \u00a31,300 million, which wer<span class=\"_ _0\"></span>e originally recognised on<span class=\"_ _0\"></span> acquisition of the<span class=\"_ _0\"></span> Bor<span class=\"_ _2\"></span>sa<span class=\"_ _0\"></span> Italiana group, w<span class=\"_ _0\"></span>ere transferred from<span class=\"_ _0\"></span> merger relief<span class=\"_ _0\"></span> reser<span class=\"_ _2\"></span>ve<span class=\"_ _0\"></span> to retained<span class=\"_ _0\"></span> earnings.<span class=\"_ _314\"> </span></div>Share buyback<span class=\"_ _314\"> </span>Du<span class=\"_ _2\"></span>ring 2025, t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>ny repu<span class=\"_ _2\"></span>rchas<span class=\"_ _2\"></span>ed 22.1 mi<span class=\"_ _2\"></span>llion o<span class=\"_ _2\"></span>f it<span class=\"_ _2\"></span>s own s<span class=\"_ _2\"></span>hares in the mark<span class=\"_ _0\"></span>et under Board-app<span class=\"_ _2\"></span>r<span class=\"_ _0\"></span>oved share<span class=\"_ _0\"></span> bu<span class=\"_ _2\"></span>yback programmes. Of these, 11.8 million shares w<span class=\"_ _0\"></span>ere cancelled and<span class=\"_ _0\"></span> the remainder are being held as<span class=\"_ _0\"></span> treasur<span class=\"_ _2\"></span>y shar<span class=\"_ _0\"></span>es.<span class=\"_ _314\"> </span>In November 2<span class=\"_ _0\"></span>025,<span class=\"_ _0\"></span> the Company entered int<span class=\"_ _0\"></span>o an irrevocable agr<span class=\"_ _0\"></span>eement with it<span class=\"_ _2\"></span>s corporate<span class=\"_ _0\"></span> broker t<span class=\"_ _0\"></span>o repurchase further shares, including purchases during the Group\u2019<span class=\"_ _0\"></span>s close period from<span class=\"_ _0\"></span> 1 Januar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> 202<span class=\"_ _0\"></span>6 until the announcement of t<span class=\"_ _2\"></span>he 2025 full<span class=\"_ _2\"></span>-ye<span class=\"_ _2\"></span>ar resu<span class=\"_ _2\"></span>lt<span class=\"_ _2\"></span>s. At 3<span class=\"_ _2\"></span>1 De<span class=\"_ _2\"></span>cembe<span class=\"_ _2\"></span>r 2025, the o<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>and<span class=\"_ _2\"></span>ing ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tion i<span class=\"_ _2\"></span>n relat<span class=\"_ _2\"></span>ion t<span class=\"_ _2\"></span>o this c<span class=\"_ _2\"></span>ommi<span class=\"_ _2\"></span>tm<span class=\"_ _2\"></span>ent wa<span class=\"_ _2\"></span>s \u00a3417 mil<span class=\"_ _2\"></span>lion a<span class=\"_ _2\"></span>nd is re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised<span class=\"_ _2\"></span> within payables (see note<span class=\"_ _0\"></span> 15). Since the r<span class=\"_ _0\"></span>epor<span class=\"_ _2\"></span>ting date, the Company repurchased 5<span class=\"_ _0\"></span> million shares<span class=\"_ _0\"></span> for \u00a34<span class=\"_ _0\"></span>17 million and the sh<span class=\"_ _0\"></span>ares were<span class=\"_ _0\"></span> cancelled<span class=\"_ _314\"> <span class=\"_ _314\"> </span></span>Retained earnings r<span class=\"_ _0\"></span>educed by \u00a32,497<span class=\"_ _0\"></span> million in the y<span class=\"_ _0\"></span>ear due to<span class=\"_ _0\"></span> share buyback act<span class=\"_ _2\"></span>ivit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. This r<span class=\"_ _0\"></span>efle<span class=\"_ _2\"></span>cts: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">\u00a32,068 million to r<span class=\"_ _0\"></span>epurchase 22.<span class=\"_ _0\"></span>1 million or<span class=\"_ _0\"></span>dinar<span class=\"_ _2\"></span>y shares<span class=\"_ _0\"></span> </span>(\u00a3<span class=\"_ _2\"></span>2,<span class=\"_ _0\"></span>06<span class=\"_ _2\"></span>0<span class=\"_ _0\"></span> million in cash and<span class=\"_ _0\"></span> \u00a38 million payable in January 20<span class=\"_ _0\"></span>26); <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">total costs direct<span class=\"_ _2\"></span>ly attribu<span class=\"_ _2\"></span>table t<span class=\"_ _0\"></span>o these repurchases<span class=\"_ _0\"></span> of \u00a312 million </span>(i<span class=\"_ _2\"></span>n cash)<span class=\"_ _2\"></span>; and <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">\u00a3417<span class=\"_ _0\"></span> million recognised f<span class=\"_ _0\"></span>or the irrevocable commitment.<span class=\"_ _314\"> </span></span>Du<span class=\"_ _2\"></span>ring 2024, th<span class=\"_ _2\"></span>e Com<span class=\"_ _2\"></span>pany exe<span class=\"_ _2\"></span>cute<span class=\"_ _2\"></span>d tw<span class=\"_ _2\"></span>o dire<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d share b<span class=\"_ _2\"></span>uy<span class=\"_ _2\"></span>back<span class=\"_ _2\"></span>s totalling \u00a31,000 million, through the acquisition of sh<span class=\"_ _0\"></span>ares from the f<span class=\"_ _0\"></span>ormer Refinit<span class=\"_ _2\"></span>iv shar<span class=\"_ _0\"></span>eholders<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>We pla<span class=\"_ _2\"></span>n to execu<span class=\"_ _2\"></span>te an ord<span class=\"_ _2\"></span>inar<span class=\"_ _2\"></span>y s<span class=\"_ _2\"></span>hare bu<span class=\"_ _2\"></span>yb<span class=\"_ _2\"></span>ack of \u00a3<span class=\"_ _2\"></span>3 bi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n, whi<span class=\"_ _2\"></span>ch wi<span class=\"_ _2\"></span>ll com<span class=\"_ _2\"></span>mence a<span class=\"_ _2\"></span>s soo<span class=\"_ _2\"></span>n as is pr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tic<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e and is e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d to be co<span class=\"_ _2\"></span>mple<span class=\"_ _2\"></span>ted by F<span class=\"_ _2\"></span>ebru<span class=\"_ _2\"></span>ar<span class=\"_ _2\"></span>y 2027<span class=\"_ _3\"></span>.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfShareCapitalReservesAndOtherEquityInterestExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-495": {
   "value": "The <span class=\"ff75 lsc ws41\">share capital</span><span class=\"ws3\"> of t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y is th<span class=\"_ _2\"></span>e numb<span class=\"_ _2\"></span>er of sh<span class=\"_ _2\"></span>ares in i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span> </span>at their par<span class=\"_ _0\"></span> value. It consist<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of balances r<span class=\"_ _0\"></span>elating to the Company\u2019s ordinar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> equit<span class=\"_ _2\"></span>y shares, own<span class=\"_ _0\"></span> shares held by<span class=\"_ _0\"></span> the Employee Benefit T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st an<span class=\"_ _2\"></span>d any t<span class=\"_ _2\"></span>reasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y share<span class=\"_ _2\"></span>s held by t<span class=\"_ _2\"></span>he C<span class=\"_ _2\"></span>ompa<span class=\"_ _2\"></span>ny<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>When the Company issues new<span class=\"_ _0\"></span> shares to<span class=\"_ _0\"></span> the Employee Benefit T<span class=\"_ _0\"></span>ru<span class=\"_ _2\"></span>st at p<span class=\"_ _2\"></span>ar<span class=\"_ _0\"></span>, t<span class=\"_ _2\"></span>he sha<span class=\"_ _2\"></span>re cap<span class=\"_ _2\"></span>ita<span class=\"_ _2\"></span>l of the C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any is i<span class=\"_ _2\"></span>ncrea<span class=\"_ _2\"></span>sed by t<span class=\"_ _2\"></span>he par value of<span class=\"_ _0\"></span> these own shares, and<span class=\"_ _0\"></span> a corresponding deduction or debit is r<span class=\"_ _0\"></span>ecorded in the shar<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-based payment reserve.<span class=\"_ _314\"> </span>The C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any may a<span class=\"_ _2\"></span>lso i<span class=\"_ _2\"></span>ssue n<span class=\"_ _2\"></span>ew shar<span class=\"_ _2\"></span>es to th<span class=\"_ _2\"></span>e Empl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span> T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>ust to<span class=\"_ _0\"></span> satis<span class=\"_ _2\"></span>fy vest<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> of specif<span class=\"_ _2\"></span>ic employ<span class=\"_ _0\"></span>ee share schemes. The<span class=\"_ _2\"></span>se sha<span class=\"_ _2\"></span>res may b<span class=\"_ _2\"></span>e issu<span class=\"_ _2\"></span>ed at a s<span class=\"_ _2\"></span>ubsc<span class=\"_ _2\"></span>ript<span class=\"_ _2\"></span>ion p<span class=\"_ _2\"></span>rice a<span class=\"_ _2\"></span>bove pa<span class=\"_ _2\"></span>r value, re<span class=\"_ _0\"></span>f<span class=\"_ _2\"></span>lectin<span class=\"_ _2\"></span>g<span class=\"_ _0\"></span> the option cost payable by the participant in the employee shar<span class=\"_ _0\"></span>e scheme. In such<span class=\"_ _0\"></span> inst<span class=\"_ _2\"></span>ances,<span class=\"_ _0\"></span> the share capital of the Company is incr<span class=\"_ _0\"></span>eased by the par value<span class=\"_ _0\"></span> of these own shar<span class=\"_ _0\"></span>es and the difference between the subscription price and<span class=\"_ _0\"></span> the par value is<span class=\"_ _0\"></span> recorded in<span class=\"_ _0\"></span> share<span class=\"_ _0\"></span> premium. A c<span class=\"_ _0\"></span>orresponding deduction or debit is r<span class=\"_ _0\"></span>ecognised in the share-based payment reser<span class=\"_ _2\"></span>ve<span class=\"_ _314\"> </span>.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForIssuedCapitalExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-496": {
   "value": "Sha<span class=\"_ _2\"></span>res acq<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>d by the C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e open m<span class=\"_ _2\"></span>arket a<span class=\"_ _2\"></span>s par<span class=\"_ _2\"></span>t of sha<span class=\"_ _2\"></span>re buy<span class=\"_ _2\"></span>bac<span class=\"_ _2\"></span>k prog<span class=\"_ _2\"></span>ram<span class=\"_ _2\"></span>mes are re<span class=\"_ _2\"></span>ferred t<span class=\"_ _2\"></span>o as tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y sh<span class=\"_ _2\"></span>ares a<span class=\"_ _2\"></span>nd are h<span class=\"_ _2\"></span>eld by t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. Th<span class=\"_ _2\"></span>e consi<span class=\"_ _2\"></span>der<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>n paya<span class=\"_ _2\"></span>ble i<span class=\"_ _2\"></span>s dedu<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ed fro<span class=\"_ _2\"></span>m reta<span class=\"_ _2\"></span>ined e<span class=\"_ _2\"></span>arni<span class=\"_ _2\"></span>ngs<span class=\"_ _2\"></span>. The pa<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of pur<span class=\"_ _2\"></span>chase<span class=\"_ _2\"></span>d tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res is re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d as a tr<span class=\"_ _2\"></span>ans<span class=\"_ _2\"></span>fer fr<span class=\"_ _2\"></span>om th<span class=\"_ _2\"></span>e Comp<span class=\"_ _2\"></span>any<span class=\"_ _2\"></span>\u2019s ordi<span class=\"_ _2\"></span>nar<span class=\"_ _2\"></span>y eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res to t<span class=\"_ _2\"></span>reasu<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y share<span class=\"_ _2\"></span>s wit<span class=\"_ _2\"></span>hin s<span class=\"_ _2\"></span>hare ca<span class=\"_ _2\"></span>pit<span class=\"_ _2\"></span>al. N<span class=\"_ _2\"></span>o gain o<span class=\"_ _2\"></span>r los<span class=\"_ _2\"></span>s is rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed by t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>ny in th<span class=\"_ _2\"></span>e inco<span class=\"_ _2\"></span>me st<span class=\"_ _2\"></span>atem<span class=\"_ _2\"></span>ent on t<span class=\"_ _2\"></span>he pur<span class=\"_ _2\"></span>chas<span class=\"_ _2\"></span>e, sale<span class=\"_ _2\"></span>, issu<span class=\"_ _2\"></span>e or ca<span class=\"_ _2\"></span>ncell<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on of th<span class=\"_ _2\"></span>e Com<span class=\"_ _2\"></span>pany<span class=\"_ _2\"></span>\u2019s tre<span class=\"_ _2\"></span>asur<span class=\"_ _2\"></span>y sha<span class=\"_ _2\"></span>res or of o<span class=\"_ _2\"></span>wn sha<span class=\"_ _2\"></span>res hel<span class=\"_ _2\"></span>d by th<span class=\"_ _2\"></span>e Empl<span class=\"_ _2\"></span>oyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>it Trus<span class=\"_ _2\"></span>t.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTreasurySharesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-535": {
   "value": "<div class=\"t m2 h6 ff77 fs3 fc1 sc0 ls1c ws11a gs700\">19. Non-<span class=\"_ _2\"></span>controlling i<span class=\"_ _0\"></span>nterests</div>Accounting policy<span class=\"_ _314\"> </span>Non-<span class=\"_ _2\"></span>controlli<span class=\"_ _0\"></span>ng interests<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>ecognises non-<span class=\"_ _2\"></span>controlling interests in a business<span class=\"_ _0\"></span> eit<span class=\"_ _2\"></span>her at fair value<span class=\"_ _0\"></span> or at the non-<span class=\"_ _2\"></span>controlling<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>s proport<span class=\"_ _2\"></span>ionate<span class=\"_ _0\"></span> share of t<span class=\"_ _2\"></span>he net a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s. T<span class=\"_ _2\"></span>his t<span class=\"_ _2\"></span>reat<span class=\"_ _2\"></span>ment i<span class=\"_ _2\"></span>s deter<span class=\"_ _2\"></span>min<span class=\"_ _2\"></span>ed on a t<span class=\"_ _2\"></span>rans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n-<span class=\"_ _314\"> </span>by-tr<span class=\"_ _2\"></span>ansaction basis. Af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> init<span class=\"_ _2\"></span>ial<span class=\"_ _0\"></span> recognition, the carr<span class=\"_ _2\"></span>ying value of the non-<span class=\"_ _2\"></span>controlling inter<span class=\"_ _0\"></span>est is adjusted for any<span class=\"_ _0\"></span> changes in equit<span class=\"_ _2\"></span>y and the total<span class=\"_ _0\"></span> comprehensive income attribu<span class=\"_ _2\"></span>table t<span class=\"_ _0\"></span>o the non-<span class=\"_ _314\"> </span>controlling inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> holder<span class=\"_ _2\"></span>s, less dividends paid.<span class=\"_ _314\"> </span>Change in the<span class=\"_ _0\"></span> ownership interest of a<span class=\"_ _0\"></span> subsidiar<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>ompany<span class=\"_ _0\"></span>, wi<span class=\"_ _2\"></span>thou<span class=\"_ _2\"></span>t los<span class=\"_ _2\"></span>s of cont<span class=\"_ _2\"></span>rol<span class=\"_ _314\"> </span>For acquisitions or disposals of<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-controlling interests where con<span class=\"_ _2\"></span>trol o<span class=\"_ _2\"></span>f the s<span class=\"_ _2\"></span>ubsi<span class=\"_ _2\"></span>diar<span class=\"_ _2\"></span>y rem<span class=\"_ _2\"></span>ains w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p, the d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>feren<span class=\"_ _2\"></span>ce bet<span class=\"_ _2\"></span>we<span class=\"_ _2\"></span>en any c<span class=\"_ _2\"></span>onsi<span class=\"_ _2\"></span>dera<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n paid o<span class=\"_ _2\"></span>r recei<span class=\"_ _2\"></span>ved<span class=\"_ _2\"></span>, and t<span class=\"_ _2\"></span>he rele<span class=\"_ _2\"></span>vant<span class=\"_ _2\"></span> sha<span class=\"_ _2\"></span>re of net a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s acq<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>d or sol<span class=\"_ _2\"></span>d, is re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised i<span class=\"_ _2\"></span>n equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span>A non<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>contr<span class=\"_ _2\"></span>ollin<span class=\"_ _2\"></span>g interes<span class=\"_ _2\"></span>t arises w<span class=\"_ _2\"></span>hen t<span class=\"_ _2\"></span>he Grou<span class=\"_ _2\"></span>p does no<span class=\"_ _2\"></span>t own al<span class=\"_ _2\"></span>l of a sub<span class=\"_ _2\"></span>sidia<span class=\"_ _2\"></span>ry, but t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up retain<span class=\"_ _2\"></span>s cont<span class=\"_ _2\"></span>rol<span class=\"_ _314\"> </span><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs702\">Financial information f<span class=\"_ _0\"></span>or subsidiar<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> enti<span class=\"_ _2\"></span>ties or<span class=\"_ _0\"></span> groups that have<span class=\"_ _0\"></span> material </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs703\">non-<span class=\"_ _2\"></span>controlling inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ts is pr<span class=\"_ _0\"></span>ovide<span class=\"_ _2\"></span>d<span class=\"_ _0\"></span> below:<span class=\"_ _314\"> </span></div><div class=\"gs704\"><table class=\"s w942 h29c\" id=\"_f92d1999-24bd-4f3f-8dc0-f6ab0b5645a9\"><tr><td class=\"t m2 x1e7 h13 y244b ff75 fs6 fc1 sc0 ls27 ws43\">Proportion of ec<span class=\"_ _0\"></span>onomic interest<span class=\"_ _0\"></span> held </td><td></td><td></td></tr><tr><td class=\"c n x1eb y244c w943 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls12 ws44\">by non-controlling interests<span class=\"_ _314\"> </span></div></td><td class=\"c n xfa9 y244c w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n xfaa y244c w944 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">2024<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e2 w937 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span> group<span class=\"_ _314\"> </span></div></td><td class=\"c n xfab y22e2 w945 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb1 wsdd\">4<span class=\"_ _2\"></span>9.1<span class=\"_ _2\"></span>%</div></td><td class=\"c n xfac y22e2 w946 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa4 wscf\">49.2<span class=\"_ _2\"></span>%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y22e3 w947 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Post T<span class=\"_ _3\"></span>rade Solutions group</div><div class=\"t m2 xfad h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6d7 y22e3 w948 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">20.0%<span class=\"_ _314\"> </span></div></td><td class=\"c n xfae y22e3 w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y22e4 w949 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">L<span class=\"_ _0\"></span>CH group</div><div class=\"t m2 xfaf h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">2<span class=\"_ _314\"> </span></div></td><td class=\"c n x5c6 y22e4 w83c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">5.6%<span class=\"_ _314\"> </span></div></td><td class=\"c n xfb0 y22e4 w83c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa9 ws7e\">5.8%<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w94a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">T<span class=\"_ _3\"></span>urquoise Global Holdings Limited<span class=\"_ _314\"> </span></div></td><td class=\"c n xfb1 y2069 w94b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls70 ws76\">15.8%</div></td><td class=\"t m2 x6cc h193 y244d ff76 fs129 fc1 sc0 lsa9 ws7e\">15.8%<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m2 hc ff76 fs7 fc1 sc0 lsb ws3 gs705\">1 <span class=\"_ _c\"> </span>I<span class=\"_ _2\"></span>n Oc<span class=\"_ _2\"></span>tob<span class=\"_ _2\"></span>er 2025<span class=\"_ _2\"></span>, the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p sol<span class=\"_ _2\"></span>d a 20% s<span class=\"_ _2\"></span>ta<span class=\"_ _2\"></span>ke in LS<span class=\"_ _2\"></span>EG PT<span class=\"_ _2\"></span>S Ho<span class=\"_ _2\"></span>ldi<span class=\"_ _2\"></span>ngs L<span class=\"_ _2\"></span>imi<span class=\"_ _2\"></span>ted fo<span class=\"_ _2\"></span>r \u00a31<span class=\"_ _2\"></span>70 mil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls29 ws47 gs706\">and recognised an<span class=\"_ _0\"></span> increase in<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-controlling interests.<span class=\"_ _314\"> </span></div><div class=\"t m2 hc ff76 fs7 fc1 sc0 lsb ws3 gs707\">2 <span class=\"_ _7\"> </span>In O<span class=\"_ _2\"></span>cto<span class=\"_ _2\"></span>ber 2<span class=\"_ _2\"></span>025, LCH G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p Hol<span class=\"_ _2\"></span>din<span class=\"_ _2\"></span>gs Li<span class=\"_ _2\"></span>mi<span class=\"_ _2\"></span>ted un<span class=\"_ _2\"></span>der<span class=\"_ _2\"></span>to<span class=\"_ _2\"></span>ok a c<span class=\"_ _2\"></span>api<span class=\"_ _2\"></span>tal i<span class=\"_ _2\"></span>ssu<span class=\"_ _2\"></span>anc<span class=\"_ _2\"></span>e in wh<span class=\"_ _2\"></span>ich n<span class=\"_ _2\"></span>ot al<span class=\"_ _2\"></span>l </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls7 ws48 gs708\">non-<span class=\"_ _2\"></span>controlling<span class=\"_ _0\"></span> shareholders part<span class=\"_ _2\"></span>icipated,<span class=\"_ _0\"></span> resulting in the Group<span class=\"_ _0\"></span>\u2019s int<span class=\"_ _0\"></span>erest increasing by<span class=\"_ _0\"></span> 0.2%<span class=\"_ _2\"></span>. </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls7 ws48 gs709\">The participating non-<span class=\"_ _2\"></span>controlling shar<span class=\"_ _0\"></span>eholders paid \u00a334 million and<span class=\"_ _0\"></span> the Group recognised an<span class=\"_ _0\"></span> </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls29 ws47 gs70a\">increase in<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-controlling interests of \u00a328<span class=\"_ _0\"></span> million and an incr<span class=\"_ _0\"></span>ease in equity att<span class=\"_ _2\"></span>ributable to </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls7 ws48 gs70b\">owners of the<span class=\"_ _0\"></span> parent of \u00a3<span class=\"_ _0\"></span>6 million.<span class=\"_ _314\"> </span></div><div class=\"gs70c\"><table class=\"s w93e h29b\" id=\"_b07a0453-4363-44e9-933f-5ab1a081e23a\"><tr><td class=\"t m2 x1e7 h13 y2446 ff75 fs6 fc1 sc0 ls26 ws3\">Pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t for th<span class=\"_ _2\"></span>e year a<span class=\"_ _2\"></span>lloc<span class=\"_ _2\"></span>ate<span class=\"_ _2\"></span>d </td><td></td><td class=\"c n x4c5 y2447 w26f h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2447 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h13 y2448 ff75 fs6 fc1 sc0 ls12 ws44\">to non-controlling interests<span class=\"_ _314\"> </span></td><td class=\"c n xf95 y22d1 w33 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xf96 y22d1 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf97 y22d1 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w937 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span> group<span class=\"_ _314\"> </span></div></td><td class=\"c n xf98 y22d9 w354 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>9.1<span class=\"_ _314\"> </span></div></td><td class=\"c n xfa1 y22d9 w2ba h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">229<span class=\"_ _314\"> </span></div></td><td class=\"c n xfa2 y22d9 w93f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa1 wsda\">184<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22eb w93a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Post T<span class=\"_ _3\"></span>rade Solutions group<span class=\"_ _314\"> </span></div></td><td class=\"c n xf9b y22eb w730 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">19.<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xfa3 y22eb w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xfa4 y22eb w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w93b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">L<span class=\"_ _0\"></span>CH group<span class=\"_ _314\"> </span></div></td><td class=\"c n xf9d y2288 w49d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">19.3<span class=\"_ _314\"> </span></div></td><td class=\"c n xfa5 y2288 w940 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">28<span class=\"_ _314\"> </span></div></td><td class=\"c n xfa6 y2288 w941 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8 ws5\">53<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w303 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xf9f y228f w135 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xfa7 y228f w31d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8 ws5\">(1)<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m2 xfa8 h187 y2449 ff75 fs129 fc1 sc0 ls61 ws86\">257<span class=\"_ _314\"> </span></td><td class=\"t m2 x2c6 h193 y244a ff76 fs129 fc1 sc0 lsa4 wscf\">236<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"gs70d\"><table class=\"s w936 h29a\" id=\"_f59abd05-2c46-45c9-bdfb-7ce936e6687e\"><tr><td class=\"t m2 x1e7 h187 y2441 ff75 fs129 fc1 sc0 ls6d wsd4\">Accumulated<span class=\"_ _0\"></span> balance of </td><td></td><td class=\"c n x4c5 y2442 w26f h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2442 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x1e7 h187 y2443 ff75 fs129 fc1 sc0 ls6d wsd4\">non-<span class=\"_ _2\"></span>controlling int<span class=\"_ _0\"></span>erest<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n xf95 y22d1 w33 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xf96 y22d1 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n xf97 y22d1 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a4 w937 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span> group<span class=\"_ _314\"> </span></div></td><td class=\"c n xf98 y22a4 w354 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">1<span class=\"_ _2\"></span>9.1</div></td><td class=\"c n xf99 y22a4 w938 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">2<span class=\"_ _2\"></span>,046</div></td><td class=\"c n xf9a y22a4 w939 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">2,026<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2297 w93a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Post T<span class=\"_ _3\"></span>rade Solutions group<span class=\"_ _314\"> </span></div></td><td class=\"c n xf9b y2297 w730 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">19.<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n xf9c y2297 w90f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">1<span class=\"_ _2\"></span>67<span class=\"_ _314\"> </span></div></td><td class=\"c n xdb8 y2297 w4f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w93b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">L<span class=\"_ _0\"></span>CH group<span class=\"_ _314\"> </span></div></td><td class=\"c n xf9d y2288 w49d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">19.3<span class=\"_ _314\"> </span></div></td><td class=\"c n xd88 y2288 w93c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">168<span class=\"_ _314\"> </span></div></td><td class=\"c n xf9e y2288 w93d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">106<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2289 w303 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">Other<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n xf9f y2289 w3e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x9a9 y2289 w50 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td></td><td class=\"t m2 xfa0 h187 y2444 ff75 fs129 fc1 sc0 lsaa wsd6\">2,<span class=\"_ _2\"></span>389<span class=\"_ _314\"> </span></td><td class=\"t m2 xa32 h193 y2445 ff76 fs129 fc1 sc0 ls91 wsbf\">2,1<span class=\"_ _2\"></span>40<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws85 gs70f\">Summarised financial information for the<span class=\"_ _0\"></span> T<span class=\"_ _0\"></span>radeweb, Post T<span class=\"_ _3\"></span>rade Solutions </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs710\">and LCH g<span class=\"_ _2\"></span>roup<span class=\"_ _2\"></span>s is prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d bel<span class=\"_ _2\"></span>ow.<span class=\"_ _314\"> </span></div><div class=\"t m2 h4 ff75 fs1 fc2 sc0 ls2 ws2 gs711\">19.<span class=\"_ _0\"></span>1 T<span class=\"_ _3\"></span>radeweb group<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs712\">The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p has a 45<span class=\"_ _2\"></span>.6% eco<span class=\"_ _2\"></span>nomi<span class=\"_ _2\"></span>c intere<span class=\"_ _2\"></span>st i<span class=\"_ _2\"></span>n T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>adew<span class=\"_ _2\"></span>eb Mar<span class=\"_ _2\"></span>kets I<span class=\"_ _2\"></span>nc<span class=\"_ _2\"></span>, a </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs713\">US co<span class=\"_ _2\"></span>mpan<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>. T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>deweb M<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s I<span class=\"_ _2\"></span>nc is t<span class=\"_ _2\"></span>he pare<span class=\"_ _2\"></span>nt com<span class=\"_ _2\"></span>pany of Trade<span class=\"_ _2\"></span>web </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws72 gs714\">Ma<span class=\"_ _2\"></span>rket<span class=\"_ _2\"></span>s LLC in whi<span class=\"_ _2\"></span>ch th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p hold<span class=\"_ _2\"></span>s a fur<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>her d<span class=\"_ _2\"></span>irec<span class=\"_ _2\"></span>t inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t. T<span class=\"_ _2\"></span>his gi<span class=\"_ _2\"></span>ves </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs715\">th<span class=\"_ _2\"></span>e Grou<span class=\"_ _2\"></span>p an ef<span class=\"_ _2\"></span>fec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve ec<span class=\"_ _2\"></span>onom<span class=\"_ _2\"></span>ic inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t of 50.9<span class=\"_ _2\"></span>% in T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>deweb M<span class=\"_ _2\"></span>arket<span class=\"_ _2\"></span>s </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs716\">LLC (202<span class=\"_ _0\"></span>4: 5<span class=\"_ _2\"></span>0.8<span class=\"_ _2\"></span>%).<span class=\"_ _314\"> </span></div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs717\">The T<span class=\"_ _3\"></span>radeweb group\u2019<span class=\"_ _0\"></span>s summarised financial information below<span class=\"_ _0\"></span> dif<span class=\"_ _2\"></span>fers </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs718\">from that reported by T<span class=\"_ _3\"></span>radeweb. The numbers disclosed<span class=\"_ _0\"></span> here include </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs719\">adjust<span class=\"_ _2\"></span>ments to<span class=\"_ _0\"></span> bring their accounting policies in li<span class=\"_ _0\"></span>ne wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> those used </div><div class=\"t m2 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs71a\">by the Group<span class=\"_ _0\"></span> and include the impact of acquisition accounting.<span class=\"_ _314\"> </span></div><div class=\"gs71b\"><table class=\"s w94c h29d\" id=\"_29eebb32-fcbe-44a5-8ca6-f9b096829348\"><tr><td class=\"t m2 x5a9 h13 y244e ff75 fs6 fc1 sc0 lse5 ws75\">Summarised financial information attributable </td><td class=\"c n x4e9 y244f w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y244f w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2450 w94d h225\"><div class=\"t m2 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws44\">to non-controlling interests</div><div class=\"t m2 xfb2 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6bf y2451 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c0 y2451 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y219e w94e h226\"><div class=\"t m2 x1e4 h193 y2116 ff76 fs129 fc1 sc0 ls6a ws3\">Pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t for t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r at<span class=\"_ _2\"></span>tri<span class=\"_ _2\"></span>but<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e to<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">non-<span class=\"_ _2\"></span>controlling interests<span class=\"_ _314\"> </span></div></td><td class=\"c n xfb3 y219e w2ba h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">229<span class=\"_ _314\"> </span></div></td><td class=\"c n xfb4 y219e w94f h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa1 wsda\">184<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y2452 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> comprehensive income<span class=\"_ _0\"></span> for the year<span class=\"_ _0\"></span> </td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b1 w950 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">att<span class=\"_ _2\"></span>ributable to non-cont<span class=\"_ _2\"></span>rolling<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xfb5 y21b1 w175 h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsab wsd4\">81<span class=\"_ _314\"> </span></div></td><td class=\"c n xfb6 y21b1 w231 h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa4 wscf\">222<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h193 y2453 ff76 fs129 fc1 sc0 ls6c ws7e\">Dividends paid to non-controlling interests </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w59d h21d\"><div class=\"t m2 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">in t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></div></td><td class=\"c n xfb7 y2069 w33f h21d\"><div class=\"t m2 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">42<span class=\"_ _314\"> </span></div></td><td class=\"t m2 xa3a h193 y2454 ff76 fs129 fc1 sc0 ls95 wsc2\">37<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls29 ws47 gs71c\">1 <span class=\"_ _c\"> </span>The summarised financial information includes<span class=\"_ _0\"></span> any amort<span class=\"_ _2\"></span>isation and<span class=\"_ _0\"></span> impairment of goodwill </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls7 ws48 gs71d\">and purchased<span class=\"_ _0\"></span> intangible assets, and the relat<span class=\"_ _0\"></span>ed deferred<span class=\"_ _0\"></span> tax benefi<span class=\"_ _2\"></span>t, attributable to </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls2a ws49 gs71e\">non-<span class=\"_ _2\"></span>contr<span class=\"_ _0\"></span>olling interests.<span class=\"_ _314\"> </span></div><div class=\"gs71f\"><table class=\"s w951 h274\" id=\"_e6570f89-0800-4349-92a7-3ba660ab8e35\"><tr><td></td><td class=\"c n x4e9 y235f w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y235f w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2455 w94d h225\"><div class=\"t m2 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws44\">Summarised balance<span class=\"_ _0\"></span> sheet</div><div class=\"t m2 xfb2 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x6bf y2360 w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c0 y2360 w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234a w952 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Non<span class=\"_ _2\"></span>-current assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xfb8 y234a w953 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">8,05<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xfb9 y234a w954 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">8,814<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d6 w955 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Current assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xfba y22d6 w956 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">1,868<span class=\"_ _314\"> </span></div></td><td class=\"c n xfbb y22d6 w957 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">1<span class=\"_ _2\"></span>,406<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234b w958 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Current liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xfbc y234b w959 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls70 ws76\">(38<span class=\"_ _2\"></span>1)</div></td><td class=\"c n xfbd y234b w95a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6e ws98\">(<span class=\"_ _2\"></span>345<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a3 w95b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xfbe y22a3 w95c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">(471<span class=\"_ _2\"></span>)</div></td><td class=\"c n xfbf y22a3 w95d h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">(492<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w111 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws5\">Net assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xfc0 y22d9 w95e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">9,07<span class=\"_ _2\"></span>2</div></td><td class=\"c n xfc1 y22d9 w95f h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">9,383<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h187 y2456 ff75 fs129 fc1 sc0 ls7b wsb4\">Attribut<span class=\"_ _2\"></span>able t<span class=\"_ _0\"></span>o:<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2288 w960 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> holder<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the company<span class=\"_ _314\"> </span></div></td><td class=\"c n xfc2 y2288 w961 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls83 wsb0\">7,<span class=\"_ _2\"></span>0<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>6<span class=\"_ _314\"> </span></div></td><td class=\"c n xfc3 y2288 w6c3 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsae wsd8\">7,<span class=\"_ _2\"></span>3<span class=\"_ _1\"></span>5<span class=\"_ _2\"></span>7<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w962 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Non<span class=\"_ _2\"></span>-controlling interests<span class=\"_ _314\"> </span></div></td><td class=\"c n xfc4 y228f w963 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">2<span class=\"_ _2\"></span>,046</div></td><td class=\"c n xfc5 y228f w939 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls82 wsaf\">2,026<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w126 h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal equity<span class=\"_ _314\"> </span></div></td><td class=\"c n xfc6 y2069 w95e h21e\"><div class=\"t m2 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls58 wsb5\">9,07<span class=\"_ _2\"></span>2</div></td><td class=\"t m2 xa69 h193 y2457 ff76 fs129 fc1 sc0 lsba wsea\">9,383<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls7 ws48 gs720\">1 <span class=\"_ _c\"> </span>The summarised<span class=\"_ _0\"></span> balance sheet includes<span class=\"_ _0\"></span> goodwill and purchased<span class=\"_ _0\"></span> intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> together </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls29 ws47 gs721\">with associated amort<span class=\"_ _2\"></span>isation, impairment and<span class=\"_ _0\"></span> deferred tax.<span class=\"_ _314\"> </span></div><div class=\"gs722\"><table class=\"s w964 h29e\" id=\"_8cc12538-02b0-4d94-b9be-89111820516d\"><tr><td class=\"c x1eb y2458 w965 h225\"><div class=\"t m2 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws44\">Summarised total<span class=\"_ _0\"></span> comprehensive income</div><div class=\"t m2 x7ad h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4e9 y2459 w31 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y2459 w270 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m2 x5a9 h13 y245a ff75 fs6 fc1 sc0 ls26 ws3\">and c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n x6bf y245b w34 h225\"><div class=\"t m2 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x6c0 y245b w35 h225\"><div class=\"t m2 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d7 w966 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ot<span class=\"_ _2\"></span>al inc<span class=\"_ _2\"></span>ome fo<span class=\"_ _2\"></span>r the ye<span class=\"_ _2\"></span>ar<span class=\"_ _314\"> </span></div></td><td class=\"c n xfc7 y20d7 w967 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">1,558<span class=\"_ _314\"> </span></div></td><td class=\"c n xfc8 y20d7 w968 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">1<span class=\"_ _2\"></span>,350<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215b w969 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ot<span class=\"_ _2\"></span>al prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t for t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></div></td><td class=\"c n xfc9 y215b w41b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6a ws1\">700<span class=\"_ _314\"> </span></div></td><td class=\"c n xfca y215b w3c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsba wsea\">446<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b1 w96a h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> comprehensive income<span class=\"_ _0\"></span> for the year<span class=\"_ _314\"> </span></div></td><td class=\"c n xfcb y21b1 w96b h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">3<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n xfcc y21b1 w96c h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb8 wse8\">54<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w96d h222\"><div class=\"t m2 x1e4 h193 y20d1 ff76 fs129 fc1 sc0 ls76 ws5\">Net increase/(decr<span class=\"_ _0\"></span>ease) in cash<span class=\"_ _0\"></span> and<span class=\"_ _314\"> </span></div><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">cash equivalents<span class=\"_ _314\"> </span></div></td><td class=\"c n xfcd y2069 w96e h21e\"><div class=\"t m2 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">476<span class=\"_ _314\"> </span></div></td><td class=\"c n xfce y2069 w758 h21e\"><div class=\"t m2 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">(268)<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls7 ws48 gs723\">1 <span class=\"_ _c\"> </span>The summarised<span class=\"_ _0\"></span> total comprehensive inc<span class=\"_ _0\"></span>ome of the T<span class=\"_ _3\"></span>radeweb group ex<span class=\"_ _0\"></span>cludes any </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 ls2a ws49 gs724\">amortisat<span class=\"_ _2\"></span>ion<span class=\"_ _0\"></span> and impairment<span class=\"_ _0\"></span> of goodwill and<span class=\"_ _0\"></span> purchased<span class=\"_ _0\"></span> intangible assets (together<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h </div><div class=\"t m2 hc ff76 fs7 fc1 sc0 lsb ws3 gs725\">an<span class=\"_ _2\"></span>y ass<span class=\"_ _2\"></span>oci<span class=\"_ _2\"></span>ated d<span class=\"_ _2\"></span>efer<span class=\"_ _2\"></span>red t<span class=\"_ _2\"></span>ax<span class=\"_ _2\"></span>).<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls22 ws3 gs727\">19.<span class=\"_ _2\"></span>2 Post T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>de So<span class=\"_ _2\"></span>lutio<span class=\"_ _2\"></span>ns grou<span class=\"_ _2\"></span>p<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs728\">In O<span class=\"_ _2\"></span>cto<span class=\"_ _2\"></span>ber 2025, t<span class=\"_ _2\"></span>he G<span class=\"_ _2\"></span>roup co<span class=\"_ _2\"></span>mple<span class=\"_ _2\"></span>ted th<span class=\"_ _2\"></span>e sale o<span class=\"_ _2\"></span>f a 20% in<span class=\"_ _2\"></span>teres<span class=\"_ _2\"></span>t in </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs729\">LS<span class=\"_ _2\"></span>EG PT<span class=\"_ _2\"></span>S Hol<span class=\"_ _2\"></span>ding<span class=\"_ _2\"></span>s Limi<span class=\"_ _2\"></span>ted<span class=\"_ _2\"></span>, the h<span class=\"_ _2\"></span>oldi<span class=\"_ _2\"></span>ng com<span class=\"_ _2\"></span>pany fo<span class=\"_ _2\"></span>r the G<span class=\"_ _2\"></span>roup\u2019s Po<span class=\"_ _2\"></span>st </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs72a\">T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>de Sol<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ions b<span class=\"_ _2\"></span>usin<span class=\"_ _2\"></span>esse<span class=\"_ _2\"></span>s (ba<span class=\"_ _2\"></span>sed i<span class=\"_ _2\"></span>n the U<span class=\"_ _2\"></span>K and t<span class=\"_ _2\"></span>he US<span class=\"_ _2\"></span>), for a tot<span class=\"_ _2\"></span>al </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs72b\">consideration of \u00a3170<span class=\"_ _0\"></span> million. Following the transac<span class=\"_ _2\"></span>tion, the Group </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs72c\">retained an<span class=\"_ _0\"></span> 80<span class=\"_ _2\"></span>%<span class=\"_ _0\"></span> owner<span class=\"_ _2\"></span>ship<span class=\"_ _0\"></span> interest in LSEG PTS Holdings Limited.<span class=\"_ _314\"> </span></div><div class=\"gs72d\"><table class=\"s w991 h2a3\" id=\"_bcd99a8f-b2c5-47dc-be9a-edff6c4a9f43\"><tr><td class=\"t m0 x1e7 h13 y2472 ff75 fs6 fc1 sc0 lse5 ws75\">Summarised financial information attributable </td><td class=\"c n x4c5 y2473 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2473 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2474 w98a h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws44\">to non-controlling interests</div><div class=\"t m0 xfed h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b8 y2475 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b9 y2475 w244 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y21b1 w992 h24b\"><div class=\"t m0 x1e4 h193 y2208 ff76 fs129 fc1 sc0 ls6a ws3\">Pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t for t<span class=\"_ _2\"></span>he per<span class=\"_ _2\"></span>iod a<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>tri<span class=\"_ _2\"></span>but<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">to non-cont<span class=\"_ _2\"></span>rolling<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xffa y21b1 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n xffb y21b1 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2476 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> comprehensive loss f<span class=\"_ _0\"></span>or the period </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w950 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">att<span class=\"_ _2\"></span>ributable to non-cont<span class=\"_ _2\"></span>rolling<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n xffc y2069 w579 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(3)<span class=\"_ _314\"> </span></div></td><td class=\"c n xffd y2069 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs72e\">1 <span class=\"_ _c\"> </span>T<span class=\"_ _2\"></span>he su<span class=\"_ _2\"></span>mmar<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>ed f<span class=\"_ _2\"></span>ina<span class=\"_ _2\"></span>ncia<span class=\"_ _2\"></span>l inf<span class=\"_ _2\"></span>orm<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on for t<span class=\"_ _2\"></span>he t<span class=\"_ _2\"></span>wo m<span class=\"_ _2\"></span>ont<span class=\"_ _2\"></span>hs en<span class=\"_ _2\"></span>ded 3<span class=\"_ _2\"></span>1 De<span class=\"_ _2\"></span>cem<span class=\"_ _2\"></span>ber 2025<span class=\"_ _2\"></span>, fro<span class=\"_ _2\"></span>m </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls2a ws49 gs72f\">the date<span class=\"_ _0\"></span> of the<span class=\"_ _0\"></span> non-<span class=\"_ _2\"></span>controlling<span class=\"_ _0\"></span> interest holders<span class=\"_ _0\"></span>\u2019 investment, includes<span class=\"_ _0\"></span> any amortisation and </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs730\">impairment of<span class=\"_ _0\"></span> goodw<span class=\"_ _2\"></span>ill<span class=\"_ _0\"></span> and purchased intangible<span class=\"_ _0\"></span> asset<span class=\"_ _2\"></span>s,<span class=\"_ _0\"></span> together with the related<span class=\"_ _0\"></span> deferred </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls29 ws47 gs731\">tax benefit<span class=\"_ _2\"></span>,<span class=\"_ _0\"></span> at<span class=\"_ _2\"></span>tributable to non-controlling interest<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div><div class=\"gs732\"><table class=\"s w989 h274\" id=\"_b2f3c5bc-acbd-42b0-8203-d1c45a13d658\"><tr><td></td><td class=\"c n x4c5 y235f w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y235f w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y246f w98a h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws44\">Summarised balance<span class=\"_ _0\"></span> sheet</div><div class=\"t m0 xfed h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b8 y22d4 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b9 y22d4 w244 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234a w952 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">Non<span class=\"_ _2\"></span>-current assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xfee y234a w98b h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa8 wsd5\">838<span class=\"_ _314\"> </span></div></td><td class=\"c n xfef y234a w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d6 w955 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Current assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xff0 y22d6 w98c h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls39 ws0\">2<span class=\"_ _2\"></span>32<span class=\"_ _314\"> </span></div></td><td class=\"c n x952 y22d6 w135 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d7 w958 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">Current liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xff1 y22d7 w98d h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa4 wscf\">(167<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xff2 y22d7 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a3 w95b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xff3 y22a3 w98e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(66)<span class=\"_ _314\"> </span></div></td><td class=\"c n xff4 y22a3 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w111 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws5\">Net assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xff5 y22d9 w98f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls7b wse0\">837<span class=\"_ _314\"> </span></div></td><td class=\"c n xfa4 y22d9 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h187 y2470 ff75 fs129 fc1 sc0 ls7b wsb4\">Attribut<span class=\"_ _2\"></span>able t<span class=\"_ _0\"></span>o:<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2288 w960 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> holder<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the company<span class=\"_ _314\"> </span></div></td><td class=\"c n xff6 y2288 w990 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6a ws1\">670<span class=\"_ _314\"> </span></div></td><td class=\"c n xa2d y2288 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w78 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Non<span class=\"_ _2\"></span>-controlling interests<span class=\"_ _314\"> </span></div></td><td class=\"c n xff7 y228f w2b0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa4 wscf\">167<span class=\"_ _314\"> </span></div></td><td class=\"c n xff8 y228f w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w126 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal equity<span class=\"_ _314\"> </span></div></td><td class=\"c n xff9 y2069 w98f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls7b wse0\">837<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd65 h193 y2471 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs733\">1 <span class=\"_ _c\"> </span>The summarised<span class=\"_ _0\"></span> balance sheet includes<span class=\"_ _0\"></span> goodwill and purchased<span class=\"_ _0\"></span> intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of all </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs734\">businesses within the Post<span class=\"_ _0\"></span> Trade<span class=\"_ _0\"></span> Solutions group, together<span class=\"_ _0\"></span> wit<span class=\"_ _2\"></span>h<span class=\"_ _0\"></span> associated amort<span class=\"_ _2\"></span>isation, </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs735\">im<span class=\"_ _2\"></span>pai<span class=\"_ _2\"></span>rme<span class=\"_ _2\"></span>nt an<span class=\"_ _2\"></span>d defe<span class=\"_ _2\"></span>rre<span class=\"_ _2\"></span>d tax<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span></div><div class=\"gs736\"><table class=\"s w982 h2a1\" id=\"_81ead0d9-a2a3-4b07-b0ce-9354c5b41c20\"><tr><td class=\"c x1eb y2466 w965 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws44\">Summarised total<span class=\"_ _0\"></span> comprehensive income</div><div class=\"t m0 x7ad h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c5 y2467 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2467 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h13 y2468 ff75 fs6 fc1 sc0 ls26 ws3\">and c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n x5b8 y2469 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b9 y2469 w244 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y246a w983 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ot<span class=\"_ _2\"></span>al inc<span class=\"_ _2\"></span>ome fo<span class=\"_ _2\"></span>r the p<span class=\"_ _2\"></span>erio<span class=\"_ _2\"></span>d<span class=\"_ _314\"> </span></div></td><td class=\"c n xfe7 y246a w984 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls75 ws9e\">31<span class=\"_ _314\"> </span></div></td><td class=\"c n xfe8 y246a w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y246b w985 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ot<span class=\"_ _2\"></span>al los<span class=\"_ _2\"></span>s for t<span class=\"_ _2\"></span>he pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d<span class=\"_ _314\"> </span></div></td><td class=\"c n xfe9 y246b wa0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(1)<span class=\"_ _314\"> </span></div></td><td class=\"c n xfea y246b w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y246c w986 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> comprehensive loss f<span class=\"_ _0\"></span>or the period<span class=\"_ _314\"> </span></div></td><td class=\"c n xfeb y246c w92 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(13)<span class=\"_ _314\"> </span></div></td><td class=\"c n xdbc y246c w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w987 h2a2\"><div class=\"t m0 x1e4 h5 y246d ff76 fs2 fc1 sc0 ls6 ws7\">Net increase<span class=\"_ _0\"></span> in cash and cash equivalents<span class=\"_ _314\"> </span></div></td><td class=\"c n xfec y2069 w988 h21e\"><div class=\"t m0 x1e4 h5 y246d ff75 fs129 fc1 sc0 ls4 ws3\">4<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xd65 h193 y246e ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs737\">1 <span class=\"_ _c\"> </span>T<span class=\"_ _2\"></span>he su<span class=\"_ _2\"></span>mmar<span class=\"_ _2\"></span>is<span class=\"_ _2\"></span>ed tot<span class=\"_ _2\"></span>al co<span class=\"_ _2\"></span>mpr<span class=\"_ _2\"></span>ehe<span class=\"_ _2\"></span>nsi<span class=\"_ _2\"></span>ve inc<span class=\"_ _2\"></span>ome o<span class=\"_ _2\"></span>f the P<span class=\"_ _2\"></span>os<span class=\"_ _2\"></span>t T<span class=\"_ _0\"></span>ra<span class=\"_ _2\"></span>de So<span class=\"_ _2\"></span>lut<span class=\"_ _2\"></span>io<span class=\"_ _2\"></span>ns gro<span class=\"_ _2\"></span>up fo<span class=\"_ _2\"></span>r the t<span class=\"_ _2\"></span>wo<span class=\"_ _2\"></span> </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls2a ws49 gs738\">months ended<span class=\"_ _0\"></span> 31 December 2<span class=\"_ _0\"></span>025,<span class=\"_ _0\"></span> from the dat<span class=\"_ _0\"></span>e of the<span class=\"_ _0\"></span> non-<span class=\"_ _2\"></span>controlling<span class=\"_ _0\"></span> interest hold<span class=\"_ _0\"></span>ers\u2019 </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls2a ws49 gs739\">investment, exclude<span class=\"_ _0\"></span>s any amortisation and<span class=\"_ _0\"></span> impairment of<span class=\"_ _0\"></span> goodwill and purch<span class=\"_ _0\"></span>ased intangible </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 lsb ws3 gs73a\">as<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>s (t<span class=\"_ _2\"></span>oge<span class=\"_ _2\"></span>the<span class=\"_ _2\"></span>r wi<span class=\"_ _2\"></span>th an<span class=\"_ _2\"></span>y ass<span class=\"_ _2\"></span>oci<span class=\"_ _2\"></span>ated d<span class=\"_ _2\"></span>efer<span class=\"_ _2\"></span>red t<span class=\"_ _2\"></span>ax<span class=\"_ _2\"></span>).<span class=\"_ _314\"> </span></div><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls2 ws2 gs73c\">19.3 LCH gr<span class=\"_ _0\"></span>oup<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs73d\">The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p owns 9<span class=\"_ _2\"></span>4.4% of LCH G<span class=\"_ _2\"></span>roup H<span class=\"_ _2\"></span>old<span class=\"_ _2\"></span>ings L<span class=\"_ _2\"></span>imi<span class=\"_ _2\"></span>ted, w<span class=\"_ _2\"></span>hich i<span class=\"_ _2\"></span>s the<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs73e\">par<span class=\"_ _2\"></span>ent of LCH Li<span class=\"_ _2\"></span>mite<span class=\"_ _2\"></span>d, ba<span class=\"_ _2\"></span>sed in t<span class=\"_ _2\"></span>he U<span class=\"_ _2\"></span>K, a<span class=\"_ _2\"></span>nd L<span class=\"_ _0\"></span>C<span class=\"_ _2\"></span>H SA<span class=\"_ _2\"></span>, bas<span class=\"_ _2\"></span>ed in Fr<span class=\"_ _2\"></span>ance<span class=\"_ _2\"></span>. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs73f\">In October 202<span class=\"_ _0\"></span>5, the Group and<span class=\"_ _0\"></span> some non-<span class=\"_ _2\"></span>controlling interest holders </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs740\">made additional capital<span class=\"_ _0\"></span> contribut<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> to L<span class=\"_ _0\"></span>CH Group<span class=\"_ _0\"></span> Holdings Limited. </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls48 ws3 gs741\">A<span class=\"_ _2\"></span>s a resul<span class=\"_ _2\"></span>t of th<span class=\"_ _2\"></span>e relat<span class=\"_ _2\"></span>ive l<span class=\"_ _2\"></span>evel<span class=\"_ _2\"></span>s of cont<span class=\"_ _2\"></span>rib<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>ions m<span class=\"_ _2\"></span>ade, t<span class=\"_ _2\"></span>he no<span class=\"_ _2\"></span>n-<span class=\"_ _2\"></span>con<span class=\"_ _2\"></span>trol<span class=\"_ _2\"></span>ling<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs742\">interest was slightly reduced,<span class=\"_ _0\"></span> and the Group\u2019<span class=\"_ _0\"></span>s ownership interest </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 lsb ws3 gs743\">inc<span class=\"_ _2\"></span>rease<span class=\"_ _2\"></span>d by 0.<span class=\"_ _2\"></span>2%<span class=\"_ _2\"></span>. The G<span class=\"_ _2\"></span>roup re<span class=\"_ _2\"></span>cei<span class=\"_ _2\"></span>ved \u00a3<span class=\"_ _2\"></span>34 mi<span class=\"_ _2\"></span>llio<span class=\"_ _2\"></span>n in ca<span class=\"_ _2\"></span>sh cons<span class=\"_ _2\"></span>ider<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls9 ws7 gs744\">from those non-<span class=\"_ _2\"></span>controlling<span class=\"_ _0\"></span> interest holders that par<span class=\"_ _2\"></span>ticipated in<span class=\"_ _0\"></span> the capit<span class=\"_ _2\"></span>al </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs745\">contribution process.<span class=\"_ _314\"> </span></div><div class=\"gs746\"><table class=\"s w339 h29f\" id=\"_11a82e33-f44a-4ece-b731-f1584fef49b0\"><tr><td class=\"t m0 x5a9 h13 y245c ff75 fs6 fc1 sc0 lse5 ws75\">Summarised financial information attributable </td><td class=\"c n x4e9 y245d w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y245d w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2450 w94d h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws44\">to non-controlling interests</div><div class=\"t m0 xfb2 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ec y2451 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y2451 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y23df w94e h24b\"><div class=\"t m0 x1e4 h193 y2208 ff76 fs129 fc1 sc0 ls6a ws3\">Pro<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>t for t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r at<span class=\"_ _2\"></span>tri<span class=\"_ _2\"></span>but<span class=\"_ _2\"></span>abl<span class=\"_ _2\"></span>e to<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">non-<span class=\"_ _2\"></span>controlling interests<span class=\"_ _314\"> </span></div></td><td class=\"c n xfcf y23df w544 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">28<span class=\"_ _314\"> </span></div></td><td class=\"c n xfd0 y23df w15c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8 ws5\">53<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y245e ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> comprehensive income<span class=\"_ _0\"></span> for the year<span class=\"_ _0\"></span> </td><td></td><td></td></tr><tr><td class=\"c n x1eb y21b1 w950 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">att<span class=\"_ _2\"></span>ributable to non-cont<span class=\"_ _2\"></span>rolling<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x604 y21b1 w96f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsac wsd7\">34<span class=\"_ _314\"> </span></div></td><td class=\"c n xfd1 y21b1 w970 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6e ws98\">45<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h193 y245f ff76 fs129 fc1 sc0 ls6c ws7e\">Dividends paid to non-controlling interests </td><td></td><td></td></tr><tr><td class=\"c n x1eb y2069 w59d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">in t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></div></td><td class=\"c n x94b y2069 w4f h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x960 h193 y2460 ff76 fs129 fc1 sc0 lsba wsea\">38<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls29 ws47 gs747\">1 <span class=\"_ _c\"> </span>The summarised financial information includes<span class=\"_ _0\"></span> any amort<span class=\"_ _2\"></span>isation and<span class=\"_ _0\"></span> impairment of goodwill </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs748\">and purchased<span class=\"_ _0\"></span> intangible assets, and the relat<span class=\"_ _0\"></span>ed deferred<span class=\"_ _0\"></span> tax benefi<span class=\"_ _2\"></span>t, attributable to </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls2a ws49 gs749\">non-<span class=\"_ _2\"></span>contr<span class=\"_ _0\"></span>olling interests.<span class=\"_ _314\"> </span></div><div class=\"gs74a\"><table class=\"s w971 h274\" id=\"_51d4f69e-9075-407d-a38c-3f967f521a24\"><tr><td></td><td class=\"c n x4e9 y235f w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y235f w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2455 w94d h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws44\">Summarised balance<span class=\"_ _0\"></span> sheet</div><div class=\"t m0 xfb2 h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ec y2360 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y2360 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234a w952 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Non<span class=\"_ _2\"></span>-current assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xfd2 y234a w242 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa2 wscd\">1<span class=\"_ _2\"></span>,624<span class=\"_ _314\"> </span></div></td><td class=\"c n xfd3 y234a w972 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls7b wse0\">487<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d6 w955 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Current assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xfd4 y22d6 w973 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb0 wsdb\">7<span class=\"_ _2\"></span>59,7<span class=\"_ _2\"></span>33</div></td><td class=\"c n xfd5 y22d6 w974 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6f ws99\">69<span class=\"_ _2\"></span>4,487<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y234b w958 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Current liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xfd6 y234b w975 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">(<span class=\"_ _2\"></span>758,<span class=\"_ _2\"></span>227)</div></td><td class=\"c n xfd7 y234b w976 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsaa wsd6\">(693,<span class=\"_ _2\"></span>2<span class=\"_ _0\"></span>65)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22a3 w95b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Non-<span class=\"_ _2\"></span>current liabilities<span class=\"_ _314\"> </span></div></td><td class=\"c n xfd8 y22a3 w977 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">(47<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n xfd9 y22a3 w430 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">(46<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22d9 w111 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws5\">Net assets<span class=\"_ _314\"> </span></div></td><td class=\"c n xfda y22d9 w978 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls39 ws0\">3,083<span class=\"_ _314\"> </span></div></td><td class=\"c n xfdb y22d9 w979 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsad wsdc\">1<span class=\"_ _2\"></span>,663<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h187 y2461 ff75 fs129 fc1 sc0 ls7b wsb4\">Attribut<span class=\"_ _2\"></span>able t<span class=\"_ _0\"></span>o:<span class=\"_ _314\"> </span></td><td></td><td></td></tr><tr><td class=\"c n x1eb y2288 w960 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Equit<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> holder<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> of the company<span class=\"_ _314\"> </span></div></td><td class=\"c n xfdc y2288 w956 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls70 ws76\">2,915<span class=\"_ _314\"> </span></div></td><td class=\"c n xfdd y2288 w97a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">1,<span class=\"_ _2\"></span>557<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y228f w962 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">Non<span class=\"_ _2\"></span>-controlling interests<span class=\"_ _314\"> </span></div></td><td class=\"c n xfde y228f w93c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa8 wsd5\">168<span class=\"_ _314\"> </span></div></td><td class=\"c n xfdf y228f w97b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsee ws55\">106<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w126 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6d wsd4\">T<span class=\"_ _0\"></span>otal equity<span class=\"_ _314\"> </span></div></td><td class=\"c n xfc6 y2069 w813 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls39 ws0\">3<span class=\"_ _2\"></span>,083<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xfe0 h193 y2462 ff76 fs129 fc1 sc0 lsad wsdc\">1,66<span class=\"_ _2\"></span>3<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs74b\">1 <span class=\"_ _c\"> </span>The summarised<span class=\"_ _0\"></span> balance sheet includes<span class=\"_ _0\"></span> goodwill and purchased<span class=\"_ _0\"></span> intangible asset<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> together </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls29 ws47 gs74c\">with associated amort<span class=\"_ _2\"></span>isation, impairment and<span class=\"_ _0\"></span> deferred tax.<span class=\"_ _314\"> </span></div><div class=\"gs74d\"><table class=\"s w97c h2a0\" id=\"_6f5abf90-96e1-44b6-9b12-2506105cc21c\"><tr><td class=\"c x1eb y2458 w965 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws44\">Summarised total<span class=\"_ _0\"></span> comprehensive income</div><div class=\"t m0 x7ad h1c4 y2202 ff75 fs12b fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n x4e9 y2463 w31 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x5a8 y2463 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x5a9 h13 y2464 ff75 fs6 fc1 sc0 ls26 ws3\">and c<span class=\"_ _2\"></span>ash f<span class=\"_ _2\"></span>low<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"c n x4ec y245b w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4ed y245b w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21fa w966 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ot<span class=\"_ _2\"></span>al inc<span class=\"_ _2\"></span>ome fo<span class=\"_ _2\"></span>r the ye<span class=\"_ _2\"></span>ar<span class=\"_ _314\"> </span></div></td><td class=\"c n xfe1 y21fa w97d h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsaf wsd9\">1<span class=\"_ _2\"></span>,11<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td><td class=\"c n xfe2 y21fa w97e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 wsdb\">1,070<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y215b w969 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>ot<span class=\"_ _2\"></span>al prof<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t for t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r<span class=\"_ _314\"> </span></div></td><td class=\"c n xfc9 y215b w5a3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls71 ws9a\">523<span class=\"_ _314\"> </span></div></td><td class=\"c n xfe3 y215b w17e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 wsdb\">407<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b1 w96a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> comprehensive income<span class=\"_ _0\"></span> for the year<span class=\"_ _314\"> </span></div></td><td class=\"c n xfe4 y21b1 w97f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls21 ws8a\">613<span class=\"_ _314\"> </span></div></td><td class=\"c n xfe5 y21b1 w980 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws96\">356<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2069 w981 h222\"><div class=\"t m0 x1e4 h193 y20d1 ff76 fs129 fc1 sc0 ls76 ws5\">Net (decrease<span class=\"_ _0\"></span>)<span class=\"_ _2\"></span>/increase in<span class=\"_ _0\"></span> cash and<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">cash equivalents<span class=\"_ _314\"> </span></div></td><td class=\"c n xfe6 y2069 w167 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">(130)<span class=\"_ _314\"> </span></div></td><td class=\"t m0 x960 h193 y2465 ff76 fs129 fc1 sc0 ls88 wsb4\">101<span class=\"_ _314\"> </span></td></tr></table></div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs74e\">1 <span class=\"_ _c\"> </span>The summarised<span class=\"_ _0\"></span> total comprehensive inc<span class=\"_ _0\"></span>ome of the L<span class=\"_ _0\"></span>CH group<span class=\"_ _0\"></span> excludes any<span class=\"_ _0\"></span> amor<span class=\"_ _2\"></span>tisation </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls7 ws48 gs74f\">and impairment o<span class=\"_ _0\"></span>f goodwill and purchased<span class=\"_ _0\"></span> intangible assets (together with any associated </div><div class=\"t m0 hc ff76 fs7 fc1 sc0 ls11b ws191 gs750\">defe<span class=\"_ _0\"></span>rred tax)<span class=\"_ _0\"></span>.</div>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfNoncontrollingInterestsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-497": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>Non-<span class=\"_ _2\"></span>controlli<span class=\"_ _0\"></span>ng interests<span class=\"_ _314\"> </span>The Group r<span class=\"_ _0\"></span>ecognises non-<span class=\"_ _2\"></span>controlling interests in a business<span class=\"_ _0\"></span> eit<span class=\"_ _2\"></span>her at fair value<span class=\"_ _0\"></span> or at the non-<span class=\"_ _2\"></span>controlling<span class=\"_ _0\"></span> interest<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>s proport<span class=\"_ _2\"></span>ionate<span class=\"_ _0\"></span> share of t<span class=\"_ _2\"></span>he net a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s. T<span class=\"_ _2\"></span>his t<span class=\"_ _2\"></span>reat<span class=\"_ _2\"></span>ment i<span class=\"_ _2\"></span>s deter<span class=\"_ _2\"></span>min<span class=\"_ _2\"></span>ed on a t<span class=\"_ _2\"></span>rans<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n-<span class=\"_ _314\"> </span>by-tr<span class=\"_ _2\"></span>ansaction basis. Af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> init<span class=\"_ _2\"></span>ial<span class=\"_ _0\"></span> recognition, the carr<span class=\"_ _2\"></span>ying value of the non-<span class=\"_ _2\"></span>controlling inter<span class=\"_ _0\"></span>est is adjusted for any<span class=\"_ _0\"></span> changes in equit<span class=\"_ _2\"></span>y and the total<span class=\"_ _0\"></span> comprehensive income attribu<span class=\"_ _2\"></span>table t<span class=\"_ _0\"></span>o the non-<span class=\"_ _314\"> </span>controlling inter<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> holder<span class=\"_ _2\"></span>s, less dividends paid.<span class=\"_ _314\"> </span>Change in the<span class=\"_ _0\"></span> ownership interest of a<span class=\"_ _0\"></span> subsidiar<span class=\"_ _2\"></span>y c<span class=\"_ _0\"></span>ompany<span class=\"_ _0\"></span>, wi<span class=\"_ _2\"></span>thou<span class=\"_ _2\"></span>t los<span class=\"_ _2\"></span>s of cont<span class=\"_ _2\"></span>rol<span class=\"_ _314\"> </span>For acquisitions or disposals of<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-controlling interests where con<span class=\"_ _2\"></span>trol o<span class=\"_ _2\"></span>f the s<span class=\"_ _2\"></span>ubsi<span class=\"_ _2\"></span>diar<span class=\"_ _2\"></span>y rem<span class=\"_ _2\"></span>ains w<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>h the G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p, the d<span class=\"_ _2\"></span>if<span class=\"_ _2\"></span>feren<span class=\"_ _2\"></span>ce bet<span class=\"_ _2\"></span>we<span class=\"_ _2\"></span>en any c<span class=\"_ _2\"></span>onsi<span class=\"_ _2\"></span>dera<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n paid o<span class=\"_ _2\"></span>r recei<span class=\"_ _2\"></span>ved<span class=\"_ _2\"></span>, and t<span class=\"_ _2\"></span>he rele<span class=\"_ _2\"></span>vant<span class=\"_ _2\"></span> sha<span class=\"_ _2\"></span>re of net a<span class=\"_ _2\"></span>sset<span class=\"_ _2\"></span>s acq<span class=\"_ _2\"></span>uire<span class=\"_ _2\"></span>d or sol<span class=\"_ _2\"></span>d, is re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ised i<span class=\"_ _2\"></span>n equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithNoncontrollingInterestsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-510": {
   "value": "Accounting policy<span class=\"_ _314\"> </span>The Group issues<span class=\"_ _0\"></span> equi<span class=\"_ _2\"></span>ty-<span class=\"_ _2\"></span>settled share-<span class=\"_ _2\"></span>based awards<span class=\"_ _0\"></span> to certain employees. The shar<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-based payment expense recognised in<span class=\"_ _0\"></span> the income statement is de<span class=\"_ _0\"></span>termined by the fair value<span class=\"_ _0\"></span> (using a stochastic val<span class=\"_ _2\"></span>uat<span class=\"_ _2\"></span>ion mo<span class=\"_ _2\"></span>del<span class=\"_ _2\"></span>) of th<span class=\"_ _2\"></span>e opt<span class=\"_ _2\"></span>ions g<span class=\"_ _2\"></span>rant<span class=\"_ _2\"></span>ed or sh<span class=\"_ _2\"></span>ares aw<span class=\"_ _2\"></span>arde<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e date of<span class=\"_ _0\"></span> grant<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The calculated expenses ar<span class=\"_ _0\"></span>e recognised over the relevant v<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ting periods.<span class=\"_ _314\"> </span>The f<span class=\"_ _2\"></span>air v<span class=\"_ _2\"></span>alue of t<span class=\"_ _2\"></span>he aw<span class=\"_ _2\"></span>ards g<span class=\"_ _2\"></span>rant<span class=\"_ _2\"></span>ed: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Includes any mark<span class=\"_ _0\"></span>et per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance conditions (for example,<span class=\"_ _0\"></span> </span>T<span class=\"_ _3\"></span>otal Shareholder Return (TSR)).  <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Excludes the impact of any service and non-mar<span class=\"_ _2\"></span>k<span class=\"_ _0\"></span>et </span>per<span class=\"_ _2\"></span>formanc<span class=\"_ _0\"></span>e vesting condit<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> (for example,<span class=\"_ _0\"></span> the need to rem<span class=\"_ _2\"></span>ain an e<span class=\"_ _2\"></span>mplo<span class=\"_ _2\"></span>yee for a s<span class=\"_ _2\"></span>peci<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ied pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d of tim<span class=\"_ _2\"></span>e).<span class=\"_ _314\"> </span>In t<span class=\"_ _2\"></span>he ver<span class=\"_ _2\"></span>y fe<span class=\"_ _2\"></span>w count<span class=\"_ _2\"></span>rie<span class=\"_ _2\"></span>s whe<span class=\"_ _2\"></span>re the G<span class=\"_ _2\"></span>roup c<span class=\"_ _2\"></span>ann<span class=\"_ _2\"></span>ot iss<span class=\"_ _2\"></span>ue equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y-<span class=\"_ _314\"> </span>sett<span class=\"_ _2\"></span>led a<span class=\"_ _0\"></span>wards due to<span class=\"_ _0\"></span> loc<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> restr<span class=\"_ _2\"></span>ictions, cash<span class=\"_ _2\"></span>-sett<span class=\"_ _2\"></span>led shar<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-based awa<span class=\"_ _2\"></span>rds are i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d ins<span class=\"_ _2\"></span>tead<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-536": {
   "value": "<div class=\"t m0 h6 ff77 fs3 fc1 sc0 ls1f ws3d gs700\">20<span class=\"_ _0\"></span>. S<span class=\"_ _2\"></span>har<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>based payment<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div>We operate<span class=\"_ _0\"></span> various employee share-<span class=\"_ _2\"></span>based compensation plans whi<span class=\"_ _2\"></span>ch allo<span class=\"_ _2\"></span>w employ<span class=\"_ _2\"></span>ees to rece<span class=\"_ _2\"></span>ive or a<span class=\"_ _2\"></span>cquire s<span class=\"_ _2\"></span>hares in t<span class=\"_ _2\"></span>he Comp<span class=\"_ _2\"></span>any in di<span class=\"_ _2\"></span>ff<span class=\"_ _2\"></span>erent wa<span class=\"_ _2\"></span>ys<span class=\"_ _2\"></span>. This no<span class=\"_ _2\"></span>te descri<span class=\"_ _2\"></span>bes our m<span class=\"_ _2\"></span>ain sha<span class=\"_ _2\"></span>re plan<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Accounting policy<span class=\"_ _314\"> </span>The Group issues<span class=\"_ _0\"></span> equi<span class=\"_ _2\"></span>ty-<span class=\"_ _2\"></span>settled share-<span class=\"_ _2\"></span>based awards<span class=\"_ _0\"></span> to certain employees. The shar<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-based payment expense recognised in<span class=\"_ _0\"></span> the income statement is de<span class=\"_ _0\"></span>termined by the fair value<span class=\"_ _0\"></span> (using a stochastic val<span class=\"_ _2\"></span>uat<span class=\"_ _2\"></span>ion mo<span class=\"_ _2\"></span>del<span class=\"_ _2\"></span>) of th<span class=\"_ _2\"></span>e opt<span class=\"_ _2\"></span>ions g<span class=\"_ _2\"></span>rant<span class=\"_ _2\"></span>ed or sh<span class=\"_ _2\"></span>ares aw<span class=\"_ _2\"></span>arde<span class=\"_ _2\"></span>d at th<span class=\"_ _2\"></span>e date of<span class=\"_ _0\"></span> grant<span class=\"_ _2\"></span>.<span class=\"_ _0\"></span> The calculated expenses ar<span class=\"_ _0\"></span>e recognised over the relevant v<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ting periods.<span class=\"_ _314\"> </span>The f<span class=\"_ _2\"></span>air v<span class=\"_ _2\"></span>alue of t<span class=\"_ _2\"></span>he aw<span class=\"_ _2\"></span>ards g<span class=\"_ _2\"></span>rant<span class=\"_ _2\"></span>ed: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Includes any mark<span class=\"_ _0\"></span>et per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance conditions (for example,<span class=\"_ _0\"></span> </span>T<span class=\"_ _3\"></span>otal Shareholder Return (TSR)).  <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ls6 ws7\">Excludes the impact of any service and non-mar<span class=\"_ _2\"></span>k<span class=\"_ _0\"></span>et </span>per<span class=\"_ _2\"></span>formanc<span class=\"_ _0\"></span>e vesting condit<span class=\"_ _2\"></span>ions<span class=\"_ _0\"></span> (for example,<span class=\"_ _0\"></span> the need to rem<span class=\"_ _2\"></span>ain an e<span class=\"_ _2\"></span>mplo<span class=\"_ _2\"></span>yee for a s<span class=\"_ _2\"></span>peci<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ied pe<span class=\"_ _2\"></span>rio<span class=\"_ _2\"></span>d of tim<span class=\"_ _2\"></span>e).<span class=\"_ _314\"> </span>In t<span class=\"_ _2\"></span>he ver<span class=\"_ _2\"></span>y fe<span class=\"_ _2\"></span>w count<span class=\"_ _2\"></span>rie<span class=\"_ _2\"></span>s whe<span class=\"_ _2\"></span>re the G<span class=\"_ _2\"></span>roup c<span class=\"_ _2\"></span>ann<span class=\"_ _2\"></span>ot iss<span class=\"_ _2\"></span>ue equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y-<span class=\"_ _314\"> </span>sett<span class=\"_ _2\"></span>led a<span class=\"_ _0\"></span>wards due to<span class=\"_ _0\"></span> loc<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> restr<span class=\"_ _2\"></span>ictions, cash<span class=\"_ _2\"></span>-sett<span class=\"_ _2\"></span>led shar<span class=\"_ _0\"></span>e<span class=\"_ _2\"></span>-based awa<span class=\"_ _2\"></span>rds are i<span class=\"_ _2\"></span>ssue<span class=\"_ _2\"></span>d ins<span class=\"_ _2\"></span>tead<span class=\"_ _314\"> </span>The charges<span class=\"_ _0\"></span> arising from equit<span class=\"_ _2\"></span>y-set<span class=\"_ _2\"></span>tled share-based payment plans are as fo<span class=\"_ _2\"></span>llow<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span><table class=\"s w993 h2a4\" id=\"_a9482e3f-32b3-46dc-9a93-5f664ee3cc1f\"><tr><td></td><td></td><td class=\"c n x4c5 y2477 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y2477 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x4c7 y2478 w33 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9e wsca\">Note<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c8 y2478 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c9 y2478 w35 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2479 w751 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Group share<span class=\"_ _0\"></span> plans</div><div class=\"t m0 xa28 h194 y20d4 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td><td class=\"c n xffe y2479 w994 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">20.1<span class=\"_ _314\"> </span></div></td><td class=\"c n xfff y2479 w995 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">95<span class=\"_ _314\"> </span></div></td><td class=\"c n x1000 y2479 w567 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa2 wscd\">92<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y247a ff76 fs129 fc1 sc0 ls6c ws7e\">T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span> share schemes </td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y23f9 w996 h222\"><div class=\"t m0 x1e4 h193 y20d1 ff76 fs129 fc1 sc0 ls76 ws5\">(recognised in<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-controlling<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls39 ws0\">intere<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s)<span class=\"_ _314\"> </span></div></td><td class=\"c n x1001 y23f9 w997 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls8a wsb6\">20.<span class=\"_ _2\"></span>2<span class=\"_ _314\"> </span></div></td><td class=\"c n x1002 y23f9 w175 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsab wsd4\">81<span class=\"_ _314\"> </span></div></td><td class=\"c n x1003 y23f9 w49f h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsea ws113\">73<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w998 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws5\">T<span class=\"_ _3\"></span>ot<span class=\"_ _2\"></span>al<span class=\"_ _0\"></span> share-<span class=\"_ _2\"></span>based pa<span class=\"_ _0\"></span>yment expense<span class=\"_ _314\"> </span></div></td><td class=\"c n x1004 y2069 w999 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa3 wsce\">4<span class=\"_ _2\"></span>.1<span class=\"_ _314\"> </span></div></td><td class=\"c n x1005 y2069 w1a2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls72 ws9b\">1<span class=\"_ _2\"></span>76<span class=\"_ _314\"> </span></div></td><td class=\"t m0 xba8 h193 y247b ff76 fs129 fc1 sc0 lsa4 wscf\">165<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>C<span class=\"_ _2\"></span>harg<span class=\"_ _2\"></span>es of \u00a3<span class=\"_ _2\"></span>ni<span class=\"_ _2\"></span>l mill<span class=\"_ _2\"></span>ion (<span class=\"_ _2\"></span>2024: \u00a3<span class=\"_ _2\"></span>3 mill<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>) rela<span class=\"_ _2\"></span>te to pl<span class=\"_ _2\"></span>ans t<span class=\"_ _2\"></span>hat a<span class=\"_ _2\"></span>re ca<span class=\"_ _2\"></span>sh<span class=\"_ _2\"></span>-se<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>le<span class=\"_ _2\"></span>d as a re<span class=\"_ _2\"></span>sul<span class=\"_ _2\"></span>t of local<span class=\"_ _0\"></span> regulations.<span class=\"_ _314\"> </span>The following amounts were<span class=\"_ _0\"></span> recognised in equity<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span><table class=\"s w99a h260\" id=\"_72f9e767-1a7f-415c-b8e3-9d1137a7a3a8\"><tr><td></td><td class=\"c n x4c5 y229d w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td class=\"c n x4c6 y229d w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"c n x5b8 y2291 w34 h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls41 ws56\">\u00a3m<span class=\"_ _314\"> </span></div></td><td class=\"c n x5b9 y2291 w244 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 lsa0 wsa3\">\u00a3m<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2288 w149 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6c ws7e\">Share-<span class=\"_ _2\"></span>based<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div></td><td class=\"c n x1006 y2288 w995 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">95<span class=\"_ _314\"> </span></div></td><td class=\"c n x1007 y2288 w99b h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 ws79\">89<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2289 w99c h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls89 wsda\">Cash recei<span class=\"_ _0\"></span>pt<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> from employees<span class=\"_ _0\"></span> on vesting<span class=\"_ _314\"> </span></div></td><td class=\"c n x1008 y2289 w3e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls4 ws3\">8<span class=\"_ _314\"> </span></div></td><td class=\"c n x1009 y2289 w410 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls75 ws9e\">13<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x6cb h187 y247c ff75 fs129 fc1 sc0 ls39 ws0\">103<span class=\"_ _314\"> </span></td><td class=\"t m0 xba8 h193 y247d ff76 fs129 fc1 sc0 ls82 wsaf\">1<span class=\"_ _2\"></span>02<span class=\"_ _314\"> </span></td></tr></table>20.<span class=\"_ _0\"></span>1 Group shar<span class=\"_ _0\"></span>e plans<span class=\"_ _314\"> </span>In A<span class=\"_ _2\"></span>pri<span class=\"_ _2\"></span>l 202<span class=\"_ _0\"></span>4, t<span class=\"_ _2\"></span>he Equ<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>y Inc<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>ive Pl<span class=\"_ _2\"></span>an (E<span class=\"_ _2\"></span>IP) w<span class=\"_ _2\"></span>as ap<span class=\"_ _2\"></span>prove<span class=\"_ _2\"></span>d by ordi<span class=\"_ _2\"></span>nar<span class=\"_ _2\"></span>y resolution of shar<span class=\"_ _0\"></span>eholder<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> at the Annual General Meeting, replacing the Long Term In<span class=\"_ _2\"></span>cent<span class=\"_ _2\"></span>ive P<span class=\"_ _2\"></span>lan 201<span class=\"_ _2\"></span>4 (L<span class=\"_ _0\"></span>TI<span class=\"_ _2\"></span>P) an<span class=\"_ _2\"></span>d the Re<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>ted S<span class=\"_ _2\"></span>hare Aw<span class=\"_ _2\"></span>ard Plan 2<span class=\"_ _0\"></span>01<span class=\"_ _2\"></span>8 (RSAP). No awards<span class=\"_ _0\"></span> have been granted<span class=\"_ _0\"></span> under these legac<span class=\"_ _2\"></span>y plans since<span class=\"_ _0\"></span> Apr<span class=\"_ _2\"></span>il<span class=\"_ _0\"></span> 202<span class=\"_ _3\"></span>4<span class=\"_ _2\"></span>.<span class=\"_ _314\"> </span>The G<span class=\"_ _2\"></span>rou<span class=\"_ _2\"></span>p has th<span class=\"_ _2\"></span>e foll<span class=\"_ _2\"></span>owin<span class=\"_ _2\"></span>g ac<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>ve share p<span class=\"_ _2\"></span>lans<span class=\"_ _2\"></span>: <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls3\">LS<span class=\"_ _2\"></span>EG Eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y Ince<span class=\"_ _2\"></span>nti<span class=\"_ _2\"></span>ve Plan<span class=\"_ _314\"> </span></span>Awa<span class=\"_ _2\"></span>rds ove<span class=\"_ _2\"></span>r per<span class=\"_ _2\"></span>for<span class=\"_ _2\"></span>mance s<span class=\"_ _2\"></span>hare un<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s (P<span class=\"_ _2\"></span>SU) a<span class=\"_ _2\"></span>re gra<span class=\"_ _2\"></span>nted a<span class=\"_ _2\"></span>t nil cos<span class=\"_ _2\"></span>t to em<span class=\"_ _2\"></span>ploye<span class=\"_ _2\"></span>es. Ves<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g of PS<span class=\"_ _2\"></span>U award<span class=\"_ _2\"></span>s is dep<span class=\"_ _2\"></span>end<span class=\"_ _2\"></span>ent on b<span class=\"_ _2\"></span>oth m<span class=\"_ _2\"></span>arket and non-market performance<span class=\"_ _0\"></span> conditions and continuing<span class=\"_ _0\"></span> employment. The performance conditions include achievement<span class=\"_ _0\"></span> of relative TSR (40%) and<span class=\"_ _0\"></span> adjusted EPS (60%) tar<span class=\"_ _0\"></span>get<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>Awa<span class=\"_ _2\"></span>rds ove<span class=\"_ _2\"></span>r rest<span class=\"_ _2\"></span>ric<span class=\"_ _2\"></span>te<span class=\"_ _2\"></span>d share u<span class=\"_ _2\"></span>nit<span class=\"_ _2\"></span>s (R<span class=\"_ _2\"></span>SU) a<span class=\"_ _2\"></span>re gra<span class=\"_ _2\"></span>nted at n<span class=\"_ _2\"></span>il cos<span class=\"_ _2\"></span>t to employees and generally v<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span> in tranches af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> one, two and three years, subject to continuing employment.<span class=\"_ _314\"> </span>Awa<span class=\"_ _2\"></span>rds gr<span class=\"_ _2\"></span>ante<span class=\"_ _2\"></span>d unde<span class=\"_ _2\"></span>r the E<span class=\"_ _2\"></span>IP ma<span class=\"_ _2\"></span>y at<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct d<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>iden<span class=\"_ _2\"></span>d equ<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>lent<span class=\"_ _2\"></span>s in shares or<span class=\"_ _0\"></span> cash and a post-vesting holding period may be applied. Al<span class=\"_ _2\"></span>l award<span class=\"_ _2\"></span>s are su<span class=\"_ _2\"></span>bjec<span class=\"_ _2\"></span>t to ma<span class=\"_ _2\"></span>lus an<span class=\"_ _2\"></span>d claw<span class=\"_ _2\"></span>back p<span class=\"_ _2\"></span>rovi<span class=\"_ _2\"></span>sion<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>Unv<span class=\"_ _2\"></span>est<span class=\"_ _2\"></span>ed PS<span class=\"_ _2\"></span>U and RS<span class=\"_ _2\"></span>U award<span class=\"_ _2\"></span>s gra<span class=\"_ _2\"></span>nted b<span class=\"_ _2\"></span>efore A<span class=\"_ _2\"></span>pril 2024 are sub<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>t to th<span class=\"_ _2\"></span>e rul<span class=\"_ _2\"></span>es of th<span class=\"_ _2\"></span>e L<span class=\"_ _3\"></span>T<span class=\"_ _2\"></span>IP an<span class=\"_ _2\"></span>d RSA<span class=\"_ _2\"></span>P resp<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>ti<span class=\"_ _2\"></span>vely. Awa<span class=\"_ _2\"></span>rds gr<span class=\"_ _2\"></span>ante<span class=\"_ _2\"></span>d unde<span class=\"_ _2\"></span>r th<span class=\"_ _2\"></span>e L<span class=\"_ _3\"></span>T<span class=\"_ _2\"></span>IP an<span class=\"_ _2\"></span>d RSA<span class=\"_ _2\"></span>P do not a<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>ra<span class=\"_ _2\"></span>ct d<span class=\"_ _2\"></span>ivi<span class=\"_ _2\"></span>den<span class=\"_ _2\"></span>d equi<span class=\"_ _2\"></span>val<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls3\">LS<span class=\"_ _2\"></span>EG De<span class=\"_ _2\"></span>ferre<span class=\"_ _2\"></span>d Bonu<span class=\"_ _2\"></span>s Plan (<span class=\"_ _2\"></span>DB<span class=\"_ _2\"></span>P)<span class=\"_ _314\"> </span></span>DB<span class=\"_ _2\"></span>P awar<span class=\"_ _2\"></span>ds are g<span class=\"_ _2\"></span>rante<span class=\"_ _2\"></span>d at ni<span class=\"_ _2\"></span>l cost t<span class=\"_ _2\"></span>o empl<span class=\"_ _2\"></span>oyee<span class=\"_ _2\"></span>s. Awa<span class=\"_ _2\"></span>rds usu<span class=\"_ _2\"></span>all<span class=\"_ _2\"></span>y either vest af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> three years or in<span class=\"_ _0\"></span> tr<span class=\"_ _2\"></span>anches<span class=\"_ _0\"></span> af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> one, two and three years, subject to continuing employment and malus<span class=\"_ _0\"></span> and clawback prov<span class=\"_ _2\"></span>isi<span class=\"_ _2\"></span>ons<span class=\"_ _2\"></span>. Award<span class=\"_ _2\"></span>s gra<span class=\"_ _2\"></span>nted un<span class=\"_ _2\"></span>der t<span class=\"_ _2\"></span>he DB<span class=\"_ _2\"></span>P may a<span class=\"_ _2\"></span>tt<span class=\"_ _2\"></span>rac<span class=\"_ _2\"></span>t di<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>dend<span class=\"_ _2\"></span> equivalent<span class=\"_ _2\"></span>s in<span class=\"_ _0\"></span> shares or cash. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls3\">Save A<span class=\"_ _2\"></span>s Y<span class=\"_ _0\"></span>ou Ea<span class=\"_ _2\"></span>rn (SA<span class=\"_ _0\"></span>Y<span class=\"_ _2\"></span>E) and I<span class=\"_ _2\"></span>nter<span class=\"_ _2\"></span>natio<span class=\"_ _2\"></span>nal Sh<span class=\"_ _2\"></span>ares<span class=\"_ _2\"></span>ave Plan 20<span class=\"_ _2\"></span>18<span class=\"_ _314\"> </span></span>The S<span class=\"_ _2\"></span>A<span class=\"_ _0\"></span>YE p<span class=\"_ _2\"></span>lans p<span class=\"_ _2\"></span>rovi<span class=\"_ _2\"></span>de for gr<span class=\"_ _2\"></span>ant<span class=\"_ _2\"></span>s of op<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>ns over t<span class=\"_ _2\"></span>he Co<span class=\"_ _2\"></span>mpa<span class=\"_ _2\"></span>ny\u2019s shares t<span class=\"_ _0\"></span>o employees who ent<span class=\"_ _0\"></span>er into a sa<span class=\"_ _0\"></span>v<span class=\"_ _2\"></span>ings<span class=\"_ _0\"></span> contr<span class=\"_ _2\"></span>act. The options are g<span class=\"_ _2\"></span>rante<span class=\"_ _2\"></span>d at 20% b<span class=\"_ _2\"></span>elow t<span class=\"_ _2\"></span>he ma<span class=\"_ _2\"></span>rket pr<span class=\"_ _2\"></span>ice an<span class=\"_ _2\"></span>d vest a<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ter th<span class=\"_ _2\"></span>ree yea<span class=\"_ _2\"></span>rs,<span class=\"_ _2\"></span> subject to continuing employment. The holders of the shar<span class=\"_ _0\"></span>e options are not<span class=\"_ _0\"></span> enti<span class=\"_ _2\"></span>tled to<span class=\"_ _0\"></span> receive dividends declared during the v<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ting period. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls7 wsa\">International Share Inc<span class=\"_ _0\"></span>entive Plan (ISIP)<span class=\"_ _314\"> </span></span>The I<span class=\"_ _2\"></span>SI<span class=\"_ _2\"></span>P is a pl<span class=\"_ _2\"></span>an in wh<span class=\"_ _2\"></span>ich em<span class=\"_ _2\"></span>ploy<span class=\"_ _2\"></span>ees ca<span class=\"_ _2\"></span>n buy s<span class=\"_ _2\"></span>hares i<span class=\"_ _2\"></span>n the C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any mo<span class=\"_ _2\"></span>nth<span class=\"_ _2\"></span>ly vi<span class=\"_ _2\"></span>a sala<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>y dedu<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>. For e<span class=\"_ _2\"></span>ver<span class=\"_ _2\"></span>y t<span class=\"_ _2\"></span>wo sha<span class=\"_ _2\"></span>res pur<span class=\"_ _2\"></span>chase<span class=\"_ _2\"></span>d by the employee (purchased sh<span class=\"_ _0\"></span>ares), the Group<span class=\"_ _0\"></span> awards them one additional share (<span class=\"_ _0\"></span>accumulated shares<span class=\"_ _0\"></span>) which vests af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> completion of a t<span class=\"_ _2\"></span>hree<span class=\"_ _2\"></span>-ye<span class=\"_ _2\"></span>ar pla<span class=\"_ _2\"></span>n cyc<span class=\"_ _2\"></span>le. Acc<span class=\"_ _2\"></span>umul<span class=\"_ _2\"></span>ated sh<span class=\"_ _2\"></span>ares ar<span class=\"_ _2\"></span>e not en<span class=\"_ _2\"></span>tit<span class=\"_ _2\"></span>led t<span class=\"_ _2\"></span>o receive dividends declared during<span class=\"_ _0\"></span> the vest<span class=\"_ _2\"></span>ing<span class=\"_ _0\"></span> perio<span class=\"_ _2\"></span>d.<span class=\"_ _314\"> </span>Fur<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>her d<span class=\"_ _2\"></span>etai<span class=\"_ _2\"></span>ls on t<span class=\"_ _2\"></span>he Gro<span class=\"_ _2\"></span>up\u2019s share p<span class=\"_ _2\"></span>lans a<span class=\"_ _2\"></span>re prov<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>d in th<span class=\"_ _2\"></span>e Dire<span class=\"_ _2\"></span>cto<span class=\"_ _2\"></span>rs\u2019 Rem<span class=\"_ _2\"></span>uner<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on Rep<span class=\"_ _2\"></span>or<span class=\"_ _2\"></span>t on pa<span class=\"_ _2\"></span>ges 82 to 1<span class=\"_ _2\"></span>03.<span class=\"_ _314\"> </span>The C<span class=\"_ _2\"></span>omp<span class=\"_ _2\"></span>any ha<span class=\"_ _2\"></span>s an Emp<span class=\"_ _2\"></span>loyee B<span class=\"_ _2\"></span>enef<span class=\"_ _2\"></span>i<span class=\"_ _2\"></span>t T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>t to adm<span class=\"_ _2\"></span>inis<span class=\"_ _2\"></span>ter t<span class=\"_ _2\"></span>he sha<span class=\"_ _2\"></span>re pla<span class=\"_ _2\"></span>ns an<span class=\"_ _2\"></span>d to acqu<span class=\"_ _2\"></span>ire Com<span class=\"_ _2\"></span>pany s<span class=\"_ _2\"></span>hares t<span class=\"_ _2\"></span>o meet t<span class=\"_ _2\"></span>he com<span class=\"_ _2\"></span>mit<span class=\"_ _2\"></span>men<span class=\"_ _2\"></span>ts to<span class=\"_ _2\"></span> Gro<span class=\"_ _2\"></span>up em<span class=\"_ _2\"></span>ploye<span class=\"_ _2\"></span>es. A<span class=\"_ _2\"></span>t 31 De<span class=\"_ _2\"></span>cemb<span class=\"_ _2\"></span>er 2025, 1<span class=\"_ _2\"></span>,39<span class=\"_ _2\"></span>8,424 Comp<span class=\"_ _2\"></span>any sh<span class=\"_ _2\"></span>ares were h<span class=\"_ _2\"></span>eld by t<span class=\"_ _2\"></span>he t<span class=\"_ _2\"></span>rus<span class=\"_ _2\"></span>t (202<span class=\"_ _0\"></span>4: 1<span class=\"_ _2\"></span>,60<span class=\"_ _2\"></span>5,13<span class=\"_ _2\"></span>3) and t<span class=\"_ _2\"></span>he ma<span class=\"_ _2\"></span>rket va<span class=\"_ _2\"></span>lue of t<span class=\"_ _2\"></span>hese<span class=\"_ _2\"></span> was \u00a312<span class=\"_ _0\"></span>5 million (20<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>4: \u00a3181 million).<span class=\"_ _314\"> </span>Fair v<span class=\"_ _2\"></span>aluat<span class=\"_ _2\"></span>ion of sh<span class=\"_ _2\"></span>are awar<span class=\"_ _2\"></span>ds and o<span class=\"_ _2\"></span>ption<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span>A Mo<span class=\"_ _2\"></span>nte C<span class=\"_ _2\"></span>arlo s<span class=\"_ _2\"></span>imul<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>n was u<span class=\"_ _2\"></span>sed to c<span class=\"_ _2\"></span>alcu<span class=\"_ _2\"></span>late t<span class=\"_ _2\"></span>he fai<span class=\"_ _2\"></span>r valu<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e PS<span class=\"_ _2\"></span>U award<span class=\"_ _2\"></span>s gra<span class=\"_ _2\"></span>nted d<span class=\"_ _2\"></span>urin<span class=\"_ _2\"></span>g the y<span class=\"_ _2\"></span>ear th<span class=\"_ _2\"></span>at are su<span class=\"_ _2\"></span>bjec<span class=\"_ _2\"></span>t to a re<span class=\"_ _2\"></span>lati<span class=\"_ _2\"></span>ve TS<span class=\"_ _2\"></span>R condition. The model simulates<span class=\"_ _0\"></span> the TSR and compares<span class=\"_ _0\"></span> it against the con<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>itu<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s of th<span class=\"_ _2\"></span>e UK F<span class=\"_ _2\"></span>TSE 1<span class=\"_ _2\"></span>00 a<span class=\"_ _2\"></span>nd gl<span class=\"_ _2\"></span>obal p<span class=\"_ _2\"></span>eer<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>The valuation approach f<span class=\"_ _0\"></span>or the RSU, DBP<span class=\"_ _25e\"></span>, ISI<span class=\"_ _2\"></span>P a<span class=\"_ _0\"></span>wards and the remaining 60<span class=\"_ _2\"></span>% of PSU a<span class=\"_ _2\"></span>ward<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t are sub<span class=\"_ _2\"></span>jec<span class=\"_ _2\"></span>t to adj<span class=\"_ _2\"></span>us<span class=\"_ _2\"></span>ted EP<span class=\"_ _2\"></span>S targ<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>s depe<span class=\"_ _2\"></span>nds o<span class=\"_ _2\"></span>n whether they are entitled to dividend equivalent<span class=\"_ _2\"></span>s. For<span class=\"_ _0\"></span> those awards that are el<span class=\"_ _2\"></span>igi<span class=\"_ _2\"></span>ble for d<span class=\"_ _2\"></span>iv<span class=\"_ _2\"></span>iden<span class=\"_ _2\"></span>d equ<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>lent<span class=\"_ _2\"></span>s, t<span class=\"_ _2\"></span>he ma<span class=\"_ _2\"></span>rket pr<span class=\"_ _2\"></span>ice at g<span class=\"_ _2\"></span>rant d<span class=\"_ _2\"></span>ate is de<span class=\"_ _2\"></span>emed to r<span class=\"_ _2\"></span>efl<span class=\"_ _2\"></span>ec<span class=\"_ _2\"></span>t the f<span class=\"_ _2\"></span>air v<span class=\"_ _2\"></span>alue. T<span class=\"_ _2\"></span>he Bl<span class=\"_ _2\"></span>ack-S<span class=\"_ _2\"></span>chol<span class=\"_ _2\"></span>es mod<span class=\"_ _2\"></span>el wa<span class=\"_ _2\"></span>s used t<span class=\"_ _2\"></span>o determine the r<span class=\"_ _0\"></span>elated fair value f<span class=\"_ _0\"></span>or awards that<span class=\"_ _0\"></span> are not eligible f<span class=\"_ _0\"></span>or dividend<span class=\"_ _2\"></span> eq<span class=\"_ _2\"></span>uiv<span class=\"_ _2\"></span>alen<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>, as wel<span class=\"_ _2\"></span>l as for de<span class=\"_ _2\"></span>term<span class=\"_ _2\"></span>inin<span class=\"_ _2\"></span>g the f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue of S<span class=\"_ _2\"></span>A<span class=\"_ _3\"></span>Y<span class=\"_ _2\"></span>E opt<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>The inputs into both the Monte Carlo and Black<span class=\"_ _0\"></span>-Scholes models include th<span class=\"_ _2\"></span>e share p<span class=\"_ _2\"></span>rice a<span class=\"_ _2\"></span>t gran<span class=\"_ _2\"></span>t date, e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d vola<span class=\"_ _2\"></span>tili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>, di<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>dend y<span class=\"_ _2\"></span>iel<span class=\"_ _2\"></span>ds, t<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk-fre<span class=\"_ _2\"></span>e inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t rate an<span class=\"_ _2\"></span>d expe<span class=\"_ _2\"></span>c<span class=\"_ _2\"></span>ted li<span class=\"_ _2\"></span>fe of the a<span class=\"_ _2\"></span>ward<span class=\"_ _2\"></span>s. The v<span class=\"_ _2\"></span>olat<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>y as<span class=\"_ _2\"></span>sump<span class=\"_ _2\"></span>tion i<span class=\"_ _2\"></span>s bas<span class=\"_ _2\"></span>ed on t<span class=\"_ _2\"></span>he his<span class=\"_ _2\"></span>tor<span class=\"_ _2\"></span>ical t<span class=\"_ _2\"></span>hre<span class=\"_ _2\"></span>e-<span class=\"_ _2\"></span>year vo<span class=\"_ _2\"></span>lat<span class=\"_ _2\"></span>ili<span class=\"_ _2\"></span>ty o<span class=\"_ _2\"></span>f the C<span class=\"_ _2\"></span>ompa<span class=\"_ _2\"></span>ny<span class=\"_ _2\"></span>\u2019<span class=\"_ _0\"></span>s<span class=\"_ _2\"></span> sha<span class=\"_ _2\"></span>re pri<span class=\"_ _2\"></span>ce as at t<span class=\"_ _2\"></span>he date o<span class=\"_ _2\"></span>f gran<span class=\"_ _2\"></span>t. T<span class=\"_ _2\"></span>he ri<span class=\"_ _2\"></span>sk-fre<span class=\"_ _2\"></span>e inte<span class=\"_ _2\"></span>res<span class=\"_ _2\"></span>t rate rep<span class=\"_ _2\"></span>rese<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s th<span class=\"_ _2\"></span>e yie<span class=\"_ _2\"></span>ld ava<span class=\"_ _2\"></span>ilab<span class=\"_ _2\"></span>le on a zero<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>coup<span class=\"_ _2\"></span>on U<span class=\"_ _2\"></span>K gover<span class=\"_ _2\"></span>nme<span class=\"_ _2\"></span>nt bon<span class=\"_ _2\"></span>d on th<span class=\"_ _2\"></span>e date of gr<span class=\"_ _2\"></span>ant fo<span class=\"_ _2\"></span>r a term co<span class=\"_ _2\"></span>mmen<span class=\"_ _2\"></span>sur<span class=\"_ _2\"></span>ate wi<span class=\"_ _2\"></span>th t<span class=\"_ _2\"></span>he ves<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g per<span class=\"_ _2\"></span>iod of t<span class=\"_ _2\"></span>he awa<span class=\"_ _2\"></span>rd. The e<span class=\"_ _2\"></span>xpe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d life refe<span class=\"_ _2\"></span>rs to t<span class=\"_ _2\"></span>he ti<span class=\"_ _2\"></span>me fro<span class=\"_ _2\"></span>m the d<span class=\"_ _2\"></span>ate of gr<span class=\"_ _2\"></span>ant to t<span class=\"_ _2\"></span>he da<span class=\"_ _2\"></span>te the awards vest<span class=\"_ _314\"> </span><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls49 ws64 gs753\">SA<span class=\"_ _3\"></span>YE options<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs754\">Movements in the number of<span class=\"_ _0\"></span> share options and a<span class=\"_ _0\"></span>wards out<span class=\"_ _2\"></span>standing and </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs755\">their weighted a<span class=\"_ _0\"></span>verage exerc<span class=\"_ _0\"></span>ise prices are<span class=\"_ _0\"></span> as follows:<span class=\"_ _314\"> </span></div><div class=\"gs756\"><table class=\"s w99d h2a5\" id=\"_91735e58-9b6b-4957-b272-3e43d3dae558\"><tr><td></td><td></td><td class=\"t m0 x6c9 h13 y247e ff75 fs6 fc1 sc0 lse5 ws125\">Weighted </td></tr><tr><td></td><td></td><td class=\"t m0 x6d1 h13 y247f ff75 fs6 fc1 sc0 ls27 ws45\">average </td></tr><tr><td></td><td></td><td class=\"t m0 x100a h13 y2480 ff75 fs6 fc1 sc0 ls27 ws45\">exerc<span class=\"_ _0\"></span>ise </td></tr><tr><td></td><td></td><td class=\"t m0 x100b h13 y2481 ff75 fs6 fc1 sc0 ls94 wsc1\">price<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"c n x100c y2482 w99e h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws125\">Number<span class=\"_ _314\"> </span></div></td><td class=\"c n x100d y2482 w99f h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls4 ws3\">\u00a3<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2483 w12c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">1 January 20<span class=\"_ _0\"></span>24<span class=\"_ _314\"> </span></div></td><td class=\"c n x100e y2483 w9a0 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6f ws99\">5<span class=\"_ _2\"></span>46,09<span class=\"_ _2\"></span>8</div></td><td class=\"c n x100f y2483 w9a1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">64.98<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f3 w9a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls39 ws0\">Gr<span class=\"_ _2\"></span>anted<span class=\"_ _314\"> </span></div></td><td class=\"c n x1010 y23f3 w9a3 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls8a wsb6\">2<span class=\"_ _2\"></span>18,<span class=\"_ _2\"></span>628<span class=\"_ _314\"> </span></div></td><td class=\"c n x1011 y23f3 w9a4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsea ws113\">81.73<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y23f4 w9a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws9f\">Exercised<span class=\"_ _314\"> </span></div></td><td class=\"c n x1012 y23f4 w9a6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls88 wsb4\">(193,401)</div></td><td class=\"c n x1013 y23f4 w8b1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws96\">6<span class=\"_ _2\"></span>4.91<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2484 w9a7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">Lapsed/for<span class=\"_ _2\"></span>feited<span class=\"_ _314\"> </span></div></td><td class=\"c n x1014 y2484 w9a8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls7b wse0\">(43,9<span class=\"_ _2\"></span>06)</div></td><td class=\"c n x1015 y2484 w9a9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls58 wsb5\">65.79<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22dd w15d h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></div></td><td class=\"c n x1016 y22dd w9aa h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws1\">527<span class=\"_ _0\"></span>,41<span class=\"_ _2\"></span>9<span class=\"_ _314\"> </span></div></td><td class=\"c n x1017 y22dd w59c h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsa9 ws7e\">71.88<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22de w9a2 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls39 ws0\">Gr<span class=\"_ _2\"></span>anted<span class=\"_ _314\"> </span></div></td><td class=\"c n x1018 y22de w9ab h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsee ws55\">193<span class=\"_ _0\"></span>,444</div></td><td class=\"c n x1019 y22de w2bd h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">72.95<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22df w9a5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws9f\">Exercised<span class=\"_ _314\"> </span></div></td><td class=\"c n x101a y22df w9ac h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">(133,553)</div></td><td class=\"c n x101b y22df w9ad h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa2 wscd\">64<span class=\"_ _2\"></span>.24<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y22e0 w9a7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">Lapsed/for<span class=\"_ _2\"></span>feited<span class=\"_ _314\"> </span></div></td><td class=\"c n x101c y22e0 w9ae h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">(8<span class=\"_ _2\"></span>1,<span class=\"_ _2\"></span>942)</div></td><td class=\"c n x101d y22e0 w9af h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls72 ws9b\">76.<span class=\"_ _2\"></span>55<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2485 w186 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x101e y2485 w9b0 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6c ws96\">505,3<span class=\"_ _2\"></span>68</div></td><td class=\"c n xd72 y2485 w9b1 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsad wsdc\">73<span class=\"_ _2\"></span>.55<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2487 w186 h2a6\"><div class=\"t m0 x1e4 h193 y2486 ff76 fs129 fc1 sc0 ls6a ws3\">E<span class=\"_ _2\"></span>xerci<span class=\"_ _2\"></span>sabl<span class=\"_ _2\"></span>e at<span class=\"_ _314\"> </span></div><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws5\">31 December 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></div></td><td class=\"c n x101f y2487 w9b2 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls76 ws9f\">11,580<span class=\"_ _314\"> </span></div></td><td class=\"c n x1020 y2487 w16f h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls83 wsb0\">6<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>61<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y2488 ff76 fs129 fc1 sc0 ls6a ws3\">31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mber 2024<span class=\"_ _314\"> </span></td><td class=\"c n x5d8 y2427 w2a1 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsae wsd8\">3<span class=\"_ _2\"></span>7,<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>7<span class=\"_ _1\"></span>7</div></td><td class=\"c n x1021 y2427 w37e h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsaa wsd6\">66<span class=\"_ _2\"></span>.99<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs757\">The w<span class=\"_ _2\"></span>eigh<span class=\"_ _2\"></span>ted ave<span class=\"_ _2\"></span>rag<span class=\"_ _2\"></span>e share p<span class=\"_ _2\"></span>rice of Lo<span class=\"_ _2\"></span>ndo<span class=\"_ _2\"></span>n Stock E<span class=\"_ _2\"></span>xcha<span class=\"_ _2\"></span>nge G<span class=\"_ _2\"></span>roup p<span class=\"_ _2\"></span>lc </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs758\">sha<span class=\"_ _2\"></span>res dur<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>he yea<span class=\"_ _2\"></span>r was \u00a3<span class=\"_ _2\"></span>102.95 (<span class=\"_ _2\"></span>202<span class=\"_ _0\"></span>4: \u00a397<span class=\"_ _0\"></span>.7<span class=\"_ _2\"></span>3).<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs759\">The range of<span class=\"_ _0\"></span> exercise<span class=\"_ _0\"></span> prices and the weighted<span class=\"_ _0\"></span> average remaining </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs75a\">con<span class=\"_ _2\"></span>tra<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ual li<span class=\"_ _2\"></span>fe of awa<span class=\"_ _2\"></span>rds an<span class=\"_ _2\"></span>d opt<span class=\"_ _2\"></span>ions o<span class=\"_ _2\"></span>ut<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>andi<span class=\"_ _2\"></span>ng are a<span class=\"_ _2\"></span>s follo<span class=\"_ _2\"></span>ws:<span class=\"_ _314\"> </span></div><div class=\"gs75b\"><table class=\"s w9b3 h2a7\" id=\"_92db94bd-31a9-4284-b232-06022d22bf4e\"><tr><td></td><td class=\"c n x1022 y2489 w26f h225\"><div class=\"t m0 x1e4 hb y2111 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x1023 y2489 w270 h225\"><div class=\"t m0 x1e4 hb y2111 ff76 fs6 fc1 sc0 ls9f wscb\">20<span class=\"_ _2\"></span>24<span class=\"_ _314\"> </span></div></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x1024 h13 y248a ff75 fs6 fc1 sc0 lse5 ws125\">Weighted </td><td></td><td class=\"t m0 x1025 hb y248a ff76 fs6 fc1 sc0 ls26 ws83\">Wei<span class=\"_ _2\"></span>ghte<span class=\"_ _2\"></span>d </td></tr><tr><td></td><td></td><td class=\"t m0 x1026 h13 y248b ff75 fs6 fc1 sc0 ls27 ws45\">average </td><td></td><td class=\"t m0 x1027 hb y248b ff76 fs6 fc1 sc0 ls7a wsbe\">average </td></tr><tr><td></td><td></td><td class=\"t m0 x1028 h13 y248c ff75 fs6 fc1 sc0 ls66 ws8d\">remaining </td><td></td><td class=\"t m0 x1029 hb y248c ff76 fs6 fc1 sc0 ls12 ws81\">remaining </td></tr><tr><td></td><td></td><td class=\"t m0 x102a h13 y248d ff75 fs6 fc1 sc0 ls12 ws81\">contractual </td><td></td><td class=\"t m0 x102b hb y248d ff76 fs6 fc1 sc0 ls12 ws81\">contrac<span class=\"_ _2\"></span>tual </td></tr><tr><td></td><td class=\"t m0 x102c h13 y248e ff75 fs6 fc1 sc0 ls4 ws3\">Numb<span class=\"_ _2\"></span>er </td><td class=\"t m0 x102d h13 y248e ff75 fs6 fc1 sc0 lse5 ws125\">life<span class=\"_ _314\"> </span></td><td class=\"t m0 x102e hb y248e ff76 fs6 fc1 sc0 ls41 ws56\">Number </td><td class=\"t m0 x102f hb y248e ff76 fs6 fc1 sc0 lse7 ws122\">life<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x1030 h13 y248f ff75 fs6 fc1 sc0 ls12 ws81\">outstanding<span class=\"_ _314\"> </span></td><td class=\"t m0 x1031 h13 y248f ff75 fs6 fc1 sc0 ls62 ws87\">Ye<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td class=\"t m0 x1032 hb y248f ff76 fs6 fc1 sc0 ls27 ws45\">outs<span class=\"_ _2\"></span>tanding<span class=\"_ _314\"> </span></td><td class=\"t m0 x9e0 hb y248f ff76 fs6 fc1 sc0 lsfe ws146\">Ye<span class=\"_ _2\"></span>a<span class=\"_ _2\"></span>r<span class=\"_ _1\"></span>s<span class=\"_ _314\"> </span></td></tr><tr><td class=\"t m0 x237 h193 y2490 ff76 fs129 fc1 sc0 ls11c ws192\">S<span class=\"_ _2\"></span>AY<span class=\"_ _2\"></span>E<span class=\"_ _314\"> </span></td><td></td><td></td><td></td><td></td></tr><tr><td class=\"c x1eb y2491 w9b4 h24d\"><div class=\"t m0 x1e4 h193 y21e0 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"lsa8 wsd5\">Between<span class=\"_ _314\"> </span></span></div><div class=\"t m0 x661 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">\u00a360 a<span class=\"_ _2\"></span>nd \u00a365<span class=\"_ _314\"> </span></div></td><td class=\"c n x1033 y2491 w9b5 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">9,4<span class=\"_ _2\"></span>43<span class=\"_ _314\"> </span></div></td><td class=\"c n x1034 y2491 w9b6 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls67 ws61\">0.4<span class=\"_ _314\"> </span></div></td><td class=\"c n x1035 y2491 w9b7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsae wsd8\">1<span class=\"_ _2\"></span>4<span class=\"_ _2\"></span>7,<span class=\"_ _1\"></span>9<span class=\"_ _2\"></span>1<span class=\"_ _1\"></span>1<span class=\"_ _314\"> </span></div></td><td class=\"c n x1036 y2491 w4fb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls58 wsb5\">0<span class=\"_ _2\"></span>.7<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2492 w9b8 h24d\"><div class=\"t m0 x1e4 h193 y21e0 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"lsa8 wsd5\">Between<span class=\"_ _314\"> </span></span></div><div class=\"t m0 x661 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">\u00a365 an<span class=\"_ _2\"></span>d \u00a370<span class=\"_ _314\"> </span></div></td><td class=\"c n x1037 y2492 w9b9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa7 wsd3\">145,<span class=\"_ _2\"></span>880<span class=\"_ _314\"> </span></div></td><td class=\"c n x1038 y2492 w9ba h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsee ws55\">1.3</div></td><td class=\"c n x1039 y2492 w9bb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls95 wsc2\">1<span class=\"_ _2\"></span>63,037<span class=\"_ _314\"> </span></div></td><td class=\"c n x103a y2492 w41a h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa9 ws7e\">1.8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2494 w9bc h2a8\"><div class=\"t m0 x1e4 h193 y2493 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"lsa8 wsd5\">Between<span class=\"_ _314\"> </span></span></div><div class=\"t m0 x661 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">\u00a370 a<span class=\"_ _2\"></span>nd \u00a37<span class=\"_ _2\"></span>5<span class=\"_ _314\"> </span></div></td><td class=\"c n x103b y2494 w9bd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">1<span class=\"_ _2\"></span>89,8<span class=\"_ _2\"></span>49<span class=\"_ _314\"> </span></div></td><td class=\"c n x103c y2494 w9be h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsac wsd7\">3.3<span class=\"_ _314\"> </span></div></td><td class=\"c n x103d y2494 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td><td class=\"c n x103e y2494 w135 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c x1eb y2495 w9bf h24d\"><div class=\"t m0 x1e4 h193 y21e0 ff76 fs129 fc1 sc0 ls4 ws3\">\u2013<span class=\"_ _24\"> </span><span class=\"lsa8 wsd5\">Between<span class=\"_ _314\"> </span></span></div><div class=\"t m0 x661 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">\u00a38<span class=\"_ _2\"></span>0 and \u00a3<span class=\"_ _2\"></span>85<span class=\"_ _314\"> </span></div></td><td class=\"c n x103f y2495 w9c0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa9 ws7e\">160,<span class=\"_ _0\"></span>196<span class=\"_ _314\"> </span></div></td><td class=\"c n x1040 y2495 w9c1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6d ws97\">2<span class=\"_ _2\"></span>.4</div></td><td class=\"c n x1041 y2495 w9c2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsb0 wsdb\">2<span class=\"_ _2\"></span>16<span class=\"_ _2\"></span>,471<span class=\"_ _314\"> </span></div></td><td class=\"c n x1042 y2495 w39e h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls67 ws61\">2.8<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x231 y2069 w297 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsa5 wsd1\">To<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>a<span class=\"_ _1\"></span>l<span class=\"_ _314\"> </span></div></td><td class=\"c n x1043 y2069 w9c3 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls6c ws96\">505,<span class=\"_ _2\"></span>368<span class=\"_ _314\"> </span></div></td><td></td><td class=\"c n x1044 y2069 w9c4 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws1\">527<span class=\"_ _0\"></span>,419<span class=\"_ _314\"> </span></div></td><td></td></tr></table></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs75c\">The inputs used in the Black-Scholes<span class=\"_ _0\"></span> model for the valuation of<span class=\"_ _0\"></span> the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs75d\">sha<span class=\"_ _2\"></span>re opt<span class=\"_ _2\"></span>ions a<span class=\"_ _2\"></span>re as fol<span class=\"_ _2\"></span>lows<span class=\"_ _2\"></span>:<span class=\"_ _314\"> </span></div><div class=\"gs75e\"><table class=\"s w814 h2a9\" id=\"_5dbed71e-34ca-454c-9d39-6c4baf3f9d37\"><tr><td class=\"c n x1eb y2439 w9c5 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls26 ws3\">Dat<span class=\"_ _2\"></span>e of gra<span class=\"_ _2\"></span>nt<span class=\"_ _314\"> </span></div></td><td class=\"c n x1045 y2439 w9c6 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls66 ws8d\">29-Sep<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y218c w9c7 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Gr<span class=\"_ _2\"></span>ant d<span class=\"_ _2\"></span>ate sha<span class=\"_ _2\"></span>re pr<span class=\"_ _2\"></span>ice (\u00a3<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x1046 y218c w9c8 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls61 ws86\">84<span class=\"_ _2\"></span>.00<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y21b6 w9c9 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 lsa8 wse8\">Expec<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed life<span class=\"_ _0\"></span> (years)<span class=\"_ _314\"> </span></div></td><td class=\"c n x1047 y21b6 w9ca h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsac wsd7\">3.34<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213c w9cb h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">E<span class=\"_ _2\"></span>xerci<span class=\"_ _2\"></span>se pri<span class=\"_ _2\"></span>ce (\u00a3<span class=\"_ _2\"></span>)<span class=\"_ _314\"> </span></div></td><td class=\"c n x1048 y213c w9cc h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls76 ws9f\">7<span class=\"_ _2\"></span>2.95<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213d w9cd h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls6a ws3\">Di<span class=\"_ _2\"></span>vi<span class=\"_ _2\"></span>dend y<span class=\"_ _2\"></span>iel<span class=\"_ _2\"></span>d (%)<span class=\"_ _314\"> </span></div></td><td class=\"c n x1049 y213d w9ce h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsad wsdc\">1.25<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20d9 w9cf h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls39 ws9f\">Risk-<span class=\"_ _2\"></span>free inte<span class=\"_ _2\"></span>rest ra<span class=\"_ _2\"></span>te (%)<span class=\"_ _314\"> </span></div></td><td class=\"c n x5cf y20d9 w9d0 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 lsb1 wsdd\">4<span class=\"_ _2\"></span>.1<span class=\"_ _2\"></span>4<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y20da w9d1 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff76 fs129 fc1 sc0 ls76 ws5\">V<span class=\"_ _0\"></span>olatili<span class=\"_ _2\"></span>ty (%)<span class=\"_ _314\"> </span></div></td><td class=\"c n x104a y20da w9d2 h21e\"><div class=\"t m0 x1e4 h193 y2060 ff75 fs129 fc1 sc0 ls58 wsb5\">19.<span class=\"_ _2\"></span>94<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w9d3 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 ls6a ws3\">Fair v<span class=\"_ _2\"></span>alue (<span class=\"_ _2\"></span>\u00a3)<span class=\"_ _314\"> </span></div></td><td class=\"c n x104b y2069 w1e4 h21e\"><div class=\"t m0 x1e4 h187 y20d6 ff75 fs129 fc1 sc0 lsa7 wsd3\">14.<span class=\"_ _2\"></span>21<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff75 fs1 fc1 sc0 ls2 ws2 gs760\">Equit<span class=\"_ _2\"></span>y-settled share awards<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 lsb ws3 gs761\">The n<span class=\"_ _2\"></span>umb<span class=\"_ _2\"></span>er of awa<span class=\"_ _2\"></span>rds an<span class=\"_ _2\"></span>d the we<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>ted aver<span class=\"_ _2\"></span>age f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue of t<span class=\"_ _2\"></span>he aw<span class=\"_ _2\"></span>ards </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs762\">gr<span class=\"_ _2\"></span>anted d<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>ng th<span class=\"_ _2\"></span>e year are a<span class=\"_ _2\"></span>s foll<span class=\"_ _2\"></span>ows:<span class=\"_ _314\"> </span></div><div class=\"gs763\"><table class=\"s w9d4 h2aa\" id=\"_d8b59773-5e8e-4809-b094-b156385cb1bd\"><tr><td></td><td class=\"t m0 x104c h13 y2496 ff75 fs6 fc1 sc0 ls7f wsac\">2025<span class=\"_ _314\"> </span></td><td></td></tr><tr><td></td><td></td><td class=\"t m0 x104d h13 y2497 ff75 fs6 fc1 sc0 lse5 ws125\">Weighted </td></tr><tr><td></td><td class=\"t m0 x104e h13 y2498 ff75 fs6 fc1 sc0 ls4 ws3\">Awards </td><td class=\"t m0 x104f h13 y2499 ff75 fs6 fc1 sc0 ls27 ws45\">average <span class=\"_ _3\"></span><span class=\"ls4 ws3\"> </span></td></tr><tr><td></td><td class=\"t m0 x1050 h13 y249a ff75 fs6 fc1 sc0 ls12 ws81\">granted<span class=\"ls4 ws3\"> </span></td><td class=\"t m0 x1051 h13 y249b ff75 fs6 fc1 sc0 lse5 ws75\">fair value<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x1050 h13 y249c ff75 fs6 fc1 sc0 lse5 ws125\">Number<span class=\"_ _314\"> </span></td><td class=\"t m0 xd4d h13 y249d ff75 fs6 fc1 sc0 ls4 ws3\">\u00a3<span class=\"_ _314\"> </span></td></tr><tr><td class=\"c n x1eb y21a4 w9d5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls89 ws79\">PSU<span class=\"_ _314\"> </span></div></td><td class=\"c n x1052 y21a4 w8dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsa9 ws7e\">588,575</div></td><td class=\"c n x1053 y21a4 w9d6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls83 wsb0\">8<span class=\"_ _2\"></span>7.<span class=\"_ _2\"></span>2<span class=\"_ _2\"></span>0<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y213e w9d7 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws9f\">RSU<span class=\"_ _314\"> </span></div></td><td class=\"c n x1054 y213e w9d8 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsaa wsd6\">499<span class=\"_ _0\"></span>,089</div></td><td class=\"c n x1055 y213e w9d9 h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls96 wsc3\">10<span class=\"_ _2\"></span>1<span class=\"_ _2\"></span>.75<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y214f w9da h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls88 wsb4\">DBP<span class=\"_ _314\"> </span></div></td><td class=\"c n x1056 y214f w9db h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls6c ws96\">136,463</div></td><td class=\"c n x1057 y214f w9dc h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls61 ws86\">112<span class=\"_ _2\"></span>.08<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"c n x1eb y2069 w9dd h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 lsac wsd7\">ISIP<span class=\"_ _314\"> </span></div></td><td class=\"c n x1058 y2069 w9de h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 lsad wsdc\">55,8<span class=\"_ _2\"></span>43</div></td><td class=\"c n x1059 y2069 w9df h21d\"><div class=\"t m0 x1e4 h193 y204b ff75 fs129 fc1 sc0 ls76 ws9f\">96.53<span class=\"_ _314\"> </span></div></td></tr></table></div><div class=\"t m0 h4 ff75 fs1 fc2 sc0 ls5d ws7b gs764\">20.2 T<span class=\"_ _0\"></span>radeweb share plan<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs765\">T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>adeweb<span class=\"_ _0\"></span> grant<span class=\"_ _2\"></span>s a<span class=\"_ _0\"></span>wards, including per<span class=\"_ _2\"></span>formance-based restr<span class=\"_ _2\"></span>icted shar<span class=\"_ _0\"></span>e </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs766\">uni<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>s (PR<span class=\"_ _2\"></span>SUs), p<span class=\"_ _2\"></span>er<span class=\"_ _2\"></span>form<span class=\"_ _2\"></span>ance s<span class=\"_ _2\"></span>hare un<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s (PS<span class=\"_ _2\"></span>Us), s<span class=\"_ _2\"></span>toc<span class=\"_ _2\"></span>k opti<span class=\"_ _2\"></span>ons<span class=\"_ _2\"></span>, res<span class=\"_ _2\"></span>tri<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs767\">st<span class=\"_ _2\"></span>ock un<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>s (RS<span class=\"_ _2\"></span>Us) an<span class=\"_ _2\"></span>d div<span class=\"_ _2\"></span>ide<span class=\"_ _2\"></span>nd equ<span class=\"_ _2\"></span>iva<span class=\"_ _2\"></span>lent r<span class=\"_ _2\"></span>igh<span class=\"_ _2\"></span>ts<span class=\"_ _2\"></span>. The aw<span class=\"_ _2\"></span>ards m<span class=\"_ _2\"></span>ay have </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls10 ws20 gs768\">per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance-<span class=\"_ _2\"></span>based and<span class=\"_ _0\"></span> time<span class=\"_ _2\"></span>-based vesting c<span class=\"_ _0\"></span>ondit<span class=\"_ _2\"></span>ions.<span class=\"_ _0\"></span> Stock options </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs769\">have a m<span class=\"_ _2\"></span>axi<span class=\"_ _2\"></span>mum co<span class=\"_ _2\"></span>ntr<span class=\"_ _2\"></span>ac<span class=\"_ _2\"></span>tual te<span class=\"_ _2\"></span>rm of 1<span class=\"_ _2\"></span>0 year<span class=\"_ _2\"></span>s.</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs76a\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls6 ws7\">PRSUs (Equity-S<span class=\"_ _2\"></span>ettled)<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs76b\">PRS<span class=\"_ _2\"></span>Us are p<span class=\"_ _2\"></span>romi<span class=\"_ _2\"></span>ses to is<span class=\"_ _2\"></span>sue sh<span class=\"_ _2\"></span>ares at t<span class=\"_ _2\"></span>he en<span class=\"_ _2\"></span>d of a th<span class=\"_ _2\"></span>ree<span class=\"_ _2\"></span>-yea<span class=\"_ _2\"></span>r </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs76c\">vesting period. The number of shar<span class=\"_ _0\"></span>es a part<span class=\"_ _2\"></span>icipant<span class=\"_ _0\"></span> will receive upon </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs76d\">vesting is determined by<span class=\"_ _0\"></span> a per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance modif<span class=\"_ _2\"></span>ier<span class=\"_ _0\"></span>, which is<span class=\"_ _0\"></span> adjus<span class=\"_ _2\"></span>t<span class=\"_ _0\"></span>ed </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls46 ws7 gs76e\">based on T<span class=\"_ _3\"></span>radeweb\u2019<span class=\"_ _0\"></span>s financial per<span class=\"_ _2\"></span>f<span class=\"_ _0\"></span>ormance. For PRSU awar<span class=\"_ _0\"></span>ds granted </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs76f\">during 20<span class=\"_ _0\"></span>2<span class=\"_ _0\"></span>4 and thereafter<span class=\"_ _0\"></span>, T<span class=\"_ _0\"></span>radeweb<span class=\"_ _0\"></span>\u2019s<span class=\"_ _0\"></span> f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formance is<span class=\"_ _0\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs770\">determined based on<span class=\"_ _0\"></span> the compound annual growth rate over<span class=\"_ _0\"></span> a </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs771\">three<span class=\"_ _2\"></span>-year<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> period beginning on 1 January in the year </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs772\">of grant. For PRSU awards<span class=\"_ _0\"></span> granted during 20<span class=\"_ _0\"></span>23, T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>adeweb<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>s financial </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs773\">per<span class=\"_ _2\"></span>formanc<span class=\"_ _0\"></span>e was determined based on<span class=\"_ _0\"></span> the f<span class=\"_ _2\"></span>inancial<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formance </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs774\">in the grant year<span class=\"_ _3\"></span>, and any earned a<span class=\"_ _0\"></span>wards that remain outstan<span class=\"_ _2\"></span>ding </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs775\">are su<span class=\"_ _2\"></span>bje<span class=\"_ _2\"></span>ct to t<span class=\"_ _2\"></span>ime<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>base<span class=\"_ _2\"></span>d ves<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g cond<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>ions<span class=\"_ _2\"></span>. The f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue of t<span class=\"_ _2\"></span>he </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs776\">eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y-<span class=\"_ _2\"></span>set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>led P<span class=\"_ _2\"></span>RSUs i<span class=\"_ _2\"></span>s cal<span class=\"_ _2\"></span>cula<span class=\"_ _2\"></span>ted as at t<span class=\"_ _2\"></span>he gr<span class=\"_ _2\"></span>ant d<span class=\"_ _2\"></span>ate usi<span class=\"_ _2\"></span>ng th<span class=\"_ _2\"></span>e </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls11 ws8f gs777\">share pr<span class=\"_ _2\"></span>ice.</div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls4 ws3 gs778\"> <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls10 ws20\">PSUs (Equity-Settled)<span class=\"_ _314\"> </span></span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs779\">PS<span class=\"_ _2\"></span>Us are p<span class=\"_ _2\"></span>romis<span class=\"_ _2\"></span>es to is<span class=\"_ _2\"></span>sue sh<span class=\"_ _2\"></span>ares at t<span class=\"_ _2\"></span>he en<span class=\"_ _2\"></span>d of a thr<span class=\"_ _2\"></span>ee<span class=\"_ _2\"></span>-yea<span class=\"_ _2\"></span>r ves<span class=\"_ _2\"></span>ting<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs77a\">period. The number of<span class=\"_ _0\"></span> shares a participant will receive upon v<span class=\"_ _0\"></span>es<span class=\"_ _2\"></span>ting </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs77b\">is de<span class=\"_ _2\"></span>term<span class=\"_ _2\"></span>ined b<span class=\"_ _2\"></span>y a per<span class=\"_ _2\"></span>for<span class=\"_ _2\"></span>manc<span class=\"_ _2\"></span>e modi<span class=\"_ _2\"></span>f<span class=\"_ _2\"></span>ier, whic<span class=\"_ _2\"></span>h is adj<span class=\"_ _2\"></span>ust<span class=\"_ _2\"></span>ed bas<span class=\"_ _2\"></span>ed on </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs77c\">T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>adeweb<span class=\"_ _0\"></span>\u2019<span class=\"_ _0\"></span>s total shareholder<span class=\"_ _0\"></span> return over<span class=\"_ _0\"></span> a three<span class=\"_ _2\"></span>-year<span class=\"_ _0\"></span> per<span class=\"_ _2\"></span>formance </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs77d\">pe<span class=\"_ _2\"></span>riod<span class=\"_ _2\"></span>. The f<span class=\"_ _2\"></span>air va<span class=\"_ _2\"></span>lue of t<span class=\"_ _2\"></span>he eq<span class=\"_ _2\"></span>uit<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span>-set<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>led P<span class=\"_ _2\"></span>SUs i<span class=\"_ _2\"></span>s cal<span class=\"_ _2\"></span>culat<span class=\"_ _2\"></span>ed as at<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs77e\">th<span class=\"_ _2\"></span>e gra<span class=\"_ _2\"></span>nt date u<span class=\"_ _2\"></span>sing t<span class=\"_ _2\"></span>he M<span class=\"_ _2\"></span>onte C<span class=\"_ _2\"></span>arl<span class=\"_ _2\"></span>o simul<span class=\"_ _2\"></span>ati<span class=\"_ _2\"></span>on mo<span class=\"_ _2\"></span>del.</div>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls10 ws8f\">Options<span class=\"_ _314\"> </span></span>T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>adeweb<span class=\"_ _0\"></span> awards options with a four<span class=\"_ _0\"></span>-year graded vesting schedule, one h<span class=\"_ _2\"></span>alf ve<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>ing ba<span class=\"_ _2\"></span>sed s<span class=\"_ _2\"></span>olel<span class=\"_ _2\"></span>y on t<span class=\"_ _2\"></span>he pas<span class=\"_ _2\"></span>sag<span class=\"_ _2\"></span>e of tim<span class=\"_ _2\"></span>e and o<span class=\"_ _2\"></span>ne hal<span class=\"_ _2\"></span>f vesting only if T<span class=\"_ _3\"></span>r<span class=\"_ _2\"></span>adeweb<span class=\"_ _0\"></span> achieves certain per<span class=\"_ _2\"></span>formance<span class=\"_ _0\"></span> target<span class=\"_ _2\"></span>s. Co<span class=\"_ _2\"></span>st<span class=\"_ _2\"></span>s rela<span class=\"_ _2\"></span>ted to opt<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>s are rec<span class=\"_ _2\"></span>ogni<span class=\"_ _2\"></span>sed as a<span class=\"_ _2\"></span>n exp<span class=\"_ _2\"></span>ense i<span class=\"_ _2\"></span>n the in<span class=\"_ _2\"></span>come<span class=\"_ _2\"></span> statement over the service period.<span class=\"_ _314\"> </span>The f<span class=\"_ _2\"></span>air v<span class=\"_ _2\"></span>alue of o<span class=\"_ _2\"></span>pti<span class=\"_ _2\"></span>ons is c<span class=\"_ _2\"></span>alc<span class=\"_ _2\"></span>ulate<span class=\"_ _2\"></span>d as at t<span class=\"_ _2\"></span>he gr<span class=\"_ _2\"></span>ant da<span class=\"_ _2\"></span>te usin<span class=\"_ _2\"></span>g the<span class=\"_ _2\"></span> Black-Scholes model. <span class=\"_ _6\"></span>\u2013<span class=\"_ _7\"> </span><span class=\"ff75 ls6 ws18\">RSUs<span class=\"_ _314\"> </span></span>RSU<span class=\"_ _2\"></span>s are pro<span class=\"_ _2\"></span>mis<span class=\"_ _2\"></span>es to iss<span class=\"_ _2\"></span>ue sha<span class=\"_ _2\"></span>res at t<span class=\"_ _2\"></span>he end o<span class=\"_ _2\"></span>f a ves<span class=\"_ _2\"></span>tin<span class=\"_ _2\"></span>g peri<span class=\"_ _2\"></span>od.<span class=\"_ _2\"></span> RSUs granted to<span class=\"_ _0\"></span> employees vest over<span class=\"_ _0\"></span> a three-<span class=\"_ _2\"></span>year<span class=\"_ _0\"></span> period. RSUs granted to<span class=\"_ _0\"></span> non<span class=\"_ _2\"></span>-employee directors vest af<span class=\"_ _2\"></span>ter<span class=\"_ _0\"></span> one year<span class=\"_ _0\"></span>. The fair<span class=\"_ _0\"></span> value of t<span class=\"_ _2\"></span>he RSU<span class=\"_ _2\"></span>s is ca<span class=\"_ _2\"></span>lcul<span class=\"_ _2\"></span>ated as a<span class=\"_ _2\"></span>t the g<span class=\"_ _2\"></span>ran<span class=\"_ _2\"></span>t date us<span class=\"_ _2\"></span>ing t<span class=\"_ _2\"></span>he shar<span class=\"_ _2\"></span>e pric<span class=\"_ _2\"></span>e.",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-537": {
   "value": "<div class=\"t m0 h6 ff77 fs3 fc1 sc0 ls1c ws11a gs700\">21. C<span class=\"_ _2\"></span>ommitments and contingenc<span class=\"_ _0\"></span>ies<span class=\"_ _314\"> </span></div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs782\">For many of<span class=\"_ _0\"></span> these mat<span class=\"_ _2\"></span>ters it<span class=\"_ _0\"></span> is too early to<span class=\"_ _0\"></span> determine the likely<span class=\"_ _0\"></span> outcome, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs28e\">or to<span class=\"_ _0\"></span> reliably estimate the amount of any<span class=\"_ _0\"></span> loss as a c<span class=\"_ _0\"></span>onsequence and </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs28f\">th<span class=\"_ _2\"></span>erefore n<span class=\"_ _2\"></span>o prov<span class=\"_ _2\"></span>isio<span class=\"_ _2\"></span>n is mad<span class=\"_ _2\"></span>e. Wh<span class=\"_ _2\"></span>ile th<span class=\"_ _2\"></span>e out<span class=\"_ _2\"></span>come of l<span class=\"_ _2\"></span>egal<span class=\"_ _2\"></span>, regu<span class=\"_ _2\"></span>lator<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs290\">and tax matters can be inherently dif<span class=\"_ _2\"></span>ficult to assess and/<span class=\"_ _0\"></span>or the potential </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs291\">loss often cannot be reli<span class=\"_ _0\"></span>abl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> es<span class=\"_ _2\"></span>timated, w<span class=\"_ _0\"></span>e do not believ<span class=\"_ _0\"></span>e that the </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs292\">liabilities, if any<span class=\"_ _0\"></span>, which could<span class=\"_ _0\"></span> result from the r<span class=\"_ _0\"></span>esolut<span class=\"_ _2\"></span>ion o<span class=\"_ _0\"></span>f the legal, </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs293\">regulatory and tax matters that arise in the normal course o<span class=\"_ _0\"></span>f business </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls6 ws7 gs294\">are lik<span class=\"_ _0\"></span>ely to hav<span class=\"_ _0\"></span>e a material<span class=\"_ _0\"></span> adver<span class=\"_ _2\"></span>se<span class=\"_ _0\"></span> ef<span class=\"_ _2\"></span>fect on our<span class=\"_ _0\"></span> consolidated financial </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs295\">po<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion, p<span class=\"_ _2\"></span>rof<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>, or ca<span class=\"_ _2\"></span>sh res<span class=\"_ _2\"></span>ources<span class=\"_ _2\"></span>. How<span class=\"_ _2\"></span>ever, it is p<span class=\"_ _2\"></span>ossi<span class=\"_ _2\"></span>ble t<span class=\"_ _2\"></span>hat f<span class=\"_ _2\"></span>utur<span class=\"_ _2\"></span>e </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs296\">resu<span class=\"_ _2\"></span>lt<span class=\"_ _2\"></span>s coul<span class=\"_ _2\"></span>d be mat<span class=\"_ _2\"></span>eria<span class=\"_ _2\"></span>lly af<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d by any d<span class=\"_ _2\"></span>evel<span class=\"_ _2\"></span>opme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s relat<span class=\"_ _2\"></span>ing to<span class=\"_ _2\"></span> </div><div class=\"t m0 h5 ff76 fs2 fc1 sc0 ls3 ws3 gs27\">any s<span class=\"_ _2\"></span>uch le<span class=\"_ _2\"></span>gal<span class=\"_ _2\"></span>, regul<span class=\"_ _2\"></span>ator<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d tax m<span class=\"_ _2\"></span>at<span class=\"_ _2\"></span>ter<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span></div><div class=\"t m0 h1dc ff78 fs2 fc1 sc0 ls3 ws3 gs283\">A comm<span class=\"_ _2\"></span>itm<span class=\"_ _2\"></span>ent is a con<span class=\"_ _2\"></span>trac<span class=\"_ _2\"></span>tual o<span class=\"_ _2\"></span>blig<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>n to make a pa<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nt in the f<span class=\"_ _2\"></span>uture<span class=\"_ _2\"></span>. These am<span class=\"_ _2\"></span>ount<span class=\"_ _2\"></span>s are not re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d in the b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce sheet a<span class=\"_ _2\"></span>s we hav<span class=\"_ _2\"></span>e not yet </div><div class=\"t m0 h1dc ff78 fs2 fc1 sc0 ls3 ws3 gs284\">rece<span class=\"_ _2\"></span>ived t<span class=\"_ _2\"></span>he rela<span class=\"_ _2\"></span>ted go<span class=\"_ _2\"></span>ods or ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices<span class=\"_ _2\"></span>. The amo<span class=\"_ _2\"></span>unts b<span class=\"_ _2\"></span>elow are t<span class=\"_ _2\"></span>he min<span class=\"_ _2\"></span>imum am<span class=\"_ _2\"></span>ount<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t we are com<span class=\"_ _2\"></span>mit<span class=\"_ _2\"></span>ted to pa<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span></div>The Group has<span class=\"_ _0\"></span> the following contrac<span class=\"_ _2\"></span>ts in plac<span class=\"_ _0\"></span>e for future e<span class=\"_ _0\"></span>xpendi<span class=\"_ _2\"></span>ture<span class=\"_ _0\"></span> which are not<span class=\"_ _0\"></span> provided for in<span class=\"_ _0\"></span> the consolidated financial statement<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span>In the normal course of<span class=\"_ _0\"></span> business, the Group can receive<span class=\"_ _0\"></span> legal claims and be inv<span class=\"_ _0\"></span>ol<span class=\"_ _2\"></span>ved<span class=\"_ _0\"></span> in legal proceedings and<span class=\"_ _0\"></span> dispute resolution processes including, for e<span class=\"_ _0\"></span>xample, in r<span class=\"_ _0\"></span>elation to commercial<span class=\"_ _0\"></span> mat<span class=\"_ _2\"></span>ters, serv<span class=\"_ _2\"></span>ic<span class=\"_ _0\"></span>e and product qualit<span class=\"_ _2\"></span>y or li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>y issues, employee matters and tax audits. The Group is also<span class=\"_ _0\"></span> subjec<span class=\"_ _2\"></span>t t<span class=\"_ _0\"></span>o periodic reviews, inspect<span class=\"_ _2\"></span>ions and<span class=\"_ _0\"></span> investigat<span class=\"_ _2\"></span>ions by reg<span class=\"_ _2\"></span>ulat<span class=\"_ _2\"></span>ors i<span class=\"_ _2\"></span>n the U<span class=\"_ _2\"></span>K and o<span class=\"_ _2\"></span>ther j<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>sdic<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ions i<span class=\"_ _2\"></span>n whic<span class=\"_ _2\"></span>h it op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>es, an<span class=\"_ _2\"></span>y of which ma<span class=\"_ _0\"></span>y result in fines, penalties, business restric<span class=\"_ _2\"></span>tions and other san<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>s. A pro<span class=\"_ _2\"></span>vis<span class=\"_ _2\"></span>ion for a l<span class=\"_ _2\"></span>iabi<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>y is re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d when i<span class=\"_ _2\"></span>t is pr<span class=\"_ _2\"></span>obab<span class=\"_ _2\"></span>le th<span class=\"_ _2\"></span>at an ou<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ow of eco<span class=\"_ _2\"></span>nomi<span class=\"_ _2\"></span>c bene<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>ill b<span class=\"_ _2\"></span>e requ<span class=\"_ _2\"></span>ired to s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle a p<span class=\"_ _2\"></span>resen<span class=\"_ _2\"></span>t ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tion f<span class=\"_ _2\"></span>rom pa<span class=\"_ _2\"></span>st ev<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s and a re<span class=\"_ _2\"></span>liab<span class=\"_ _2\"></span>le es<span class=\"_ _2\"></span>tim<span class=\"_ _2\"></span>ate ca<span class=\"_ _2\"></span>n be mad<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e amount of the obligation. Any pr<span class=\"_ _0\"></span>ovision recognised is inher<span class=\"_ _0\"></span>entl<span class=\"_ _2\"></span>y subject<span class=\"_ _2\"></span>ive and<span class=\"_ _0\"></span> based on judgement.<span class=\"_ _314\"> </span><table class=\"s w9e0 h2ab\" id=\"_b4ea7821-719f-4cb9-b3dc-0139ff76af58\"><tr><td class=\"c n x1eb y249e w9e1 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws81\">Contract<span class=\"_ _314\"> </span></div></td><td class=\"c n x105a y249e w9e2 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls66 ws8d\">Descriptio<span class=\"_ _2\"></span>n<span class=\"_ _314\"> </span></div></td><td class=\"c n x105b y249e w9e3 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws75\">Minimum commitment<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y249f ff76 fs129 fc1 sc0 ls6c ws7e\">10<span class=\"_ _2\"></span>-year strategic partner<span class=\"_ _2\"></span>ship </td><td class=\"t m0 x105c h193 y249f ff76 fs129 fc1 sc0 ls76 ws5\">T<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span> architec<span class=\"_ _2\"></span>t LSEG\u2019s<span class=\"_ _0\"></span> data infrast<span class=\"_ _2\"></span>ructure using the Microsoft </td><td class=\"t m0 x89c h193 y249f ff76 fs129 fc1 sc0 ls76 ws5\">Minimum cloud-<span class=\"_ _2\"></span>relat<span class=\"_ _0\"></span>ed spend of US$2.8<span class=\"_ _0\"></span><span class=\"_ gs5a0\"> </span>billion </td></tr><tr><td class=\"t m0 x1e7 h193 y24a0 ff76 fs129 fc1 sc0 ls6a ws1\">wi<span class=\"_ _2\"></span>th <span class=\"ff75 ls95 wsc2\">Microsof<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></span></td><td class=\"t m0 x105c h193 y24a0 ff76 fs129 fc1 sc0 ls6a ws3\">Cl<span class=\"_ _2\"></span>oud<span class=\"_ _2\"></span>, and to j<span class=\"_ _2\"></span>oint<span class=\"_ _2\"></span>ly d<span class=\"_ _2\"></span>evel<span class=\"_ _2\"></span>op new p<span class=\"_ _2\"></span>rodu<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s an<span class=\"_ _2\"></span>d ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices fo<span class=\"_ _2\"></span>r </td><td class=\"c x105e y24a1 w9e4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">over the<span class=\"_ _0\"></span> term of the<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>tnership</div><div class=\"t m0 x105d h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x105c h193 y24a2 ff76 fs129 fc1 sc0 ls6c ws7e\">data and analytic<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td></tr><tr><td class=\"t m0 x1e7 h193 y24a3 ff76 fs129 fc1 sc0 ls6a ws3\">Co<span class=\"_ _2\"></span>llab<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n wi<span class=\"_ _2\"></span>th <span class=\"ff75 ws1\">Am<span class=\"_ _2\"></span>azon</span><span class=\"ff75 ws1\"> </span></td><td class=\"t m0 x105c h193 y24a3 ff76 fs129 fc1 sc0 ls6a ws3\">E<span class=\"_ _2\"></span>xt<span class=\"_ _2\"></span>ensi<span class=\"_ _2\"></span>on of co<span class=\"_ _2\"></span>llab<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n wit<span class=\"_ _2\"></span>h Am<span class=\"_ _2\"></span>azon Web Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>es to </td><td class=\"t m0 x89c h193 y24a3 ff76 fs129 fc1 sc0 ls6c ws7e\">Cloud-<span class=\"_ _2\"></span>relat<span class=\"_ _0\"></span>ed spend commitment over<span class=\"_ _0\"></span> the term </td></tr><tr><td class=\"t m0 x1e7 h187 y24a4 ff75 fs129 fc1 sc0 ls76 ws5\">Web<span class=\"_ _0\"></span> Ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span></td><td class=\"t m0 x105c h193 y24a4 ff76 fs129 fc1 sc0 ls6c ws7e\">provide cloud services to<span class=\"_ _0\"></span> LS<span class=\"_ _2\"></span>EG\u2019<span class=\"_ _0\"></span>s Markets, Risk Int<span class=\"_ _0\"></span>elligence </td><td class=\"t m0 x89c h193 y24a4 ff76 fs129 fc1 sc0 ls6c ws7e\">of the agr<span class=\"_ _0\"></span>eement<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x105c h193 y24a5 ff76 fs129 fc1 sc0 ls89 wsda\">and FTSE Russell<span class=\"_ _0\"></span> div<span class=\"_ _2\"></span>isions.<span class=\"_ _0\"></span> This will strengthen LSEG\u2019s </td><td></td></tr><tr><td></td><td class=\"t m0 x105c h193 y24a6 ff76 fs129 fc1 sc0 ls6c ws7e\">resilience<span class=\"_ _0\"></span> and securit<span class=\"_ _2\"></span>y while<span class=\"_ _0\"></span> delivering new services and </td><td></td></tr><tr><td></td><td class=\"t m0 x105c h193 y24a7 ff76 fs129 fc1 sc0 ls89 wsda\">product<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> for customers.<span class=\"_ _314\"> </span></td><td></td></tr><tr><td class=\"t m0 x1e7 h193 y24a8 ff76 fs129 fc1 sc0 ls6a ws3\">Agr<span class=\"_ _2\"></span>eeme<span class=\"_ _2\"></span>nt wi<span class=\"_ _2\"></span>th <span class=\"ff75\">Re<span class=\"_ _2\"></span>uter<span class=\"_ _2\"></span>s New<span class=\"_ _2\"></span>s</span><span class=\"ls4\">,</span><span class=\"ls4\"> </span></td><td class=\"c n x105f y221f w9e5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>o rece<span class=\"_ _2\"></span>ive n<span class=\"_ _2\"></span>ews a<span class=\"_ _2\"></span>nd ed<span class=\"_ _2\"></span>itor<span class=\"_ _2\"></span>ial co<span class=\"_ _2\"></span>nten<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x1060 y221f w9e6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">M<span class=\"_ _2\"></span>inimum<span class=\"_ _0\"></span> CPI adjus<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>, which<span class=\"_ _0\"></span> was<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y24a9 ff76 fs129 fc1 sc0 ls6a ws3\">en<span class=\"_ _2\"></span>tered i<span class=\"_ _2\"></span>nto in 20<span class=\"_ _2\"></span>18<span class=\"_ _2\"></span>, for a 30<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>year t<span class=\"_ _2\"></span>erm<span class=\"_ _314\"> </span></td><td></td><td class=\"t m0 x89c h193 y24a9 ff76 fs129 fc1 sc0 ls89 wsda\">US$398 million f<span class=\"_ _0\"></span>or 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>T<span class=\"_ _2\"></span>he rem<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>ing c<span class=\"_ _2\"></span>omm<span class=\"_ _2\"></span>itm<span class=\"_ _2\"></span>ent a<span class=\"_ _2\"></span>t 31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 2025 is US<span class=\"_ _2\"></span>$2.<span class=\"_ _2\"></span>8 bil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  },
  "fact-554": {
   "value": "21. C<span class=\"_ _2\"></span>ommitments and contingenc<span class=\"_ _0\"></span>ies<span class=\"_ _314\"> </span>A comm<span class=\"_ _2\"></span>itm<span class=\"_ _2\"></span>ent is a con<span class=\"_ _2\"></span>trac<span class=\"_ _2\"></span>tual o<span class=\"_ _2\"></span>blig<span class=\"_ _2\"></span>atio<span class=\"_ _2\"></span>n to make a pa<span class=\"_ _2\"></span>yme<span class=\"_ _2\"></span>nt in the f<span class=\"_ _2\"></span>uture<span class=\"_ _2\"></span>. These am<span class=\"_ _2\"></span>ount<span class=\"_ _2\"></span>s are not re<span class=\"_ _2\"></span>corde<span class=\"_ _2\"></span>d in the b<span class=\"_ _2\"></span>alan<span class=\"_ _2\"></span>ce sheet a<span class=\"_ _2\"></span>s we hav<span class=\"_ _2\"></span>e not yet rece<span class=\"_ _2\"></span>ived t<span class=\"_ _2\"></span>he rela<span class=\"_ _2\"></span>ted go<span class=\"_ _2\"></span>ods or ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices<span class=\"_ _2\"></span>. The amo<span class=\"_ _2\"></span>unts b<span class=\"_ _2\"></span>elow are t<span class=\"_ _2\"></span>he min<span class=\"_ _2\"></span>imum am<span class=\"_ _2\"></span>ount<span class=\"_ _2\"></span>s tha<span class=\"_ _2\"></span>t we are com<span class=\"_ _2\"></span>mit<span class=\"_ _2\"></span>ted to pa<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span>.<span class=\"_ _314\"> </span>The Group has<span class=\"_ _0\"></span> the following contrac<span class=\"_ _2\"></span>ts in plac<span class=\"_ _0\"></span>e for future e<span class=\"_ _0\"></span>xpendi<span class=\"_ _2\"></span>ture<span class=\"_ _0\"></span> which are not<span class=\"_ _0\"></span> provided for in<span class=\"_ _0\"></span> the consolidated financial statement<span class=\"_ _2\"></span>s:<span class=\"_ _314\"> </span>In the normal course of<span class=\"_ _0\"></span> business, the Group can receive<span class=\"_ _0\"></span> legal claims and be inv<span class=\"_ _0\"></span>ol<span class=\"_ _2\"></span>ved<span class=\"_ _0\"></span> in legal proceedings and<span class=\"_ _0\"></span> dispute resolution processes including, for e<span class=\"_ _0\"></span>xample, in r<span class=\"_ _0\"></span>elation to commercial<span class=\"_ _0\"></span> mat<span class=\"_ _2\"></span>ters, serv<span class=\"_ _2\"></span>ic<span class=\"_ _0\"></span>e and product qualit<span class=\"_ _2\"></span>y or li<span class=\"_ _0\"></span>abilit<span class=\"_ _2\"></span>y issues, employee matters and tax audits. The Group is also<span class=\"_ _0\"></span> subjec<span class=\"_ _2\"></span>t t<span class=\"_ _0\"></span>o periodic reviews, inspect<span class=\"_ _2\"></span>ions and<span class=\"_ _0\"></span> investigat<span class=\"_ _2\"></span>ions by reg<span class=\"_ _2\"></span>ulat<span class=\"_ _2\"></span>ors i<span class=\"_ _2\"></span>n the U<span class=\"_ _2\"></span>K and o<span class=\"_ _2\"></span>ther j<span class=\"_ _2\"></span>uri<span class=\"_ _2\"></span>sdic<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>ions i<span class=\"_ _2\"></span>n whic<span class=\"_ _2\"></span>h it op<span class=\"_ _2\"></span>erat<span class=\"_ _2\"></span>es, an<span class=\"_ _2\"></span>y of which ma<span class=\"_ _0\"></span>y result in fines, penalties, business restric<span class=\"_ _2\"></span>tions and other san<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>ion<span class=\"_ _2\"></span>s. A pro<span class=\"_ _2\"></span>vis<span class=\"_ _2\"></span>ion for a l<span class=\"_ _2\"></span>iabi<span class=\"_ _2\"></span>lit<span class=\"_ _2\"></span>y is re<span class=\"_ _2\"></span>cogn<span class=\"_ _2\"></span>ise<span class=\"_ _2\"></span>d when i<span class=\"_ _2\"></span>t is pr<span class=\"_ _2\"></span>obab<span class=\"_ _2\"></span>le th<span class=\"_ _2\"></span>at an ou<span class=\"_ _2\"></span>t<span class=\"_ _2\"></span>fl<span class=\"_ _2\"></span>ow of eco<span class=\"_ _2\"></span>nomi<span class=\"_ _2\"></span>c bene<span class=\"_ _2\"></span>fi<span class=\"_ _2\"></span>ts w<span class=\"_ _2\"></span>ill b<span class=\"_ _2\"></span>e requ<span class=\"_ _2\"></span>ired to s<span class=\"_ _2\"></span>et<span class=\"_ _2\"></span>tle a p<span class=\"_ _2\"></span>resen<span class=\"_ _2\"></span>t ob<span class=\"_ _2\"></span>liga<span class=\"_ _2\"></span>tion f<span class=\"_ _2\"></span>rom pa<span class=\"_ _2\"></span>st ev<span class=\"_ _2\"></span>ent<span class=\"_ _2\"></span>s and a re<span class=\"_ _2\"></span>liab<span class=\"_ _2\"></span>le es<span class=\"_ _2\"></span>tim<span class=\"_ _2\"></span>ate ca<span class=\"_ _2\"></span>n be mad<span class=\"_ _2\"></span>e of th<span class=\"_ _2\"></span>e amount of the obligation. Any pr<span class=\"_ _0\"></span>ovision recognised is inher<span class=\"_ _0\"></span>entl<span class=\"_ _2\"></span>y subject<span class=\"_ _2\"></span>ive and<span class=\"_ _0\"></span> based on judgement.<span class=\"_ _314\"> </span><table class=\"s w9e0 h2ab\" id=\"_b4ea7821-719f-4cb9-b3dc-0139ff76af58\"><tr><td class=\"c n x1eb y249e w9e1 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls12 ws81\">Contract<span class=\"_ _314\"> </span></div></td><td class=\"c n x105a y249e w9e2 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 ls66 ws8d\">Descriptio<span class=\"_ _2\"></span>n<span class=\"_ _314\"> </span></div></td><td class=\"c n x105b y249e w9e3 h225\"><div class=\"t m0 x1e4 h13 y2131 ff75 fs6 fc1 sc0 lse5 ws75\">Minimum commitment<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y249f ff76 fs129 fc1 sc0 ls6c ws7e\">10<span class=\"_ _2\"></span>-year strategic partner<span class=\"_ _2\"></span>ship </td><td class=\"t m0 x105c h193 y249f ff76 fs129 fc1 sc0 ls76 ws5\">T<span class=\"_ _0\"></span>o<span class=\"_ _0\"></span> architec<span class=\"_ _2\"></span>t LSEG\u2019s<span class=\"_ _0\"></span> data infrast<span class=\"_ _2\"></span>ructure using the Microsoft </td><td class=\"t m0 x89c h193 y249f ff76 fs129 fc1 sc0 ls76 ws5\">Minimum cloud-<span class=\"_ _2\"></span>relat<span class=\"_ _0\"></span>ed spend of US$2.8<span class=\"_ _0\"></span><span class=\"_ gs5a0\"> </span>billion </td></tr><tr><td class=\"t m0 x1e7 h193 y24a0 ff76 fs129 fc1 sc0 ls6a ws1\">wi<span class=\"_ _2\"></span>th <span class=\"ff75 ls95 wsc2\">Microsof<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></span></td><td class=\"t m0 x105c h193 y24a0 ff76 fs129 fc1 sc0 ls6a ws3\">Cl<span class=\"_ _2\"></span>oud<span class=\"_ _2\"></span>, and to j<span class=\"_ _2\"></span>oint<span class=\"_ _2\"></span>ly d<span class=\"_ _2\"></span>evel<span class=\"_ _2\"></span>op new p<span class=\"_ _2\"></span>rodu<span class=\"_ _2\"></span>ct<span class=\"_ _2\"></span>s an<span class=\"_ _2\"></span>d ser<span class=\"_ _2\"></span>v<span class=\"_ _2\"></span>ices fo<span class=\"_ _2\"></span>r </td><td class=\"c x105e y24a1 w9e4 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6c ws7e\">over the<span class=\"_ _0\"></span> term of the<span class=\"_ _0\"></span> par<span class=\"_ _2\"></span>tnership</div><div class=\"t m0 x105d h194 y20c0 ff76 fs12a fc1 sc0 ls4 ws3\">1<span class=\"_ _314\"> </span></div></td></tr><tr><td></td><td class=\"t m0 x105c h193 y24a2 ff76 fs129 fc1 sc0 ls6c ws7e\">data and analytic<span class=\"_ _2\"></span>s<span class=\"_ _314\"> </span></td><td></td></tr><tr><td class=\"t m0 x1e7 h193 y24a3 ff76 fs129 fc1 sc0 ls6a ws3\">Co<span class=\"_ _2\"></span>llab<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n wi<span class=\"_ _2\"></span>th <span class=\"ff75 ws1\">Am<span class=\"_ _2\"></span>azon</span><span class=\"ff75 ws1\"> </span></td><td class=\"t m0 x105c h193 y24a3 ff76 fs129 fc1 sc0 ls6a ws3\">E<span class=\"_ _2\"></span>xt<span class=\"_ _2\"></span>ensi<span class=\"_ _2\"></span>on of co<span class=\"_ _2\"></span>llab<span class=\"_ _2\"></span>ora<span class=\"_ _2\"></span>tio<span class=\"_ _2\"></span>n wit<span class=\"_ _2\"></span>h Am<span class=\"_ _2\"></span>azon Web Se<span class=\"_ _2\"></span>r<span class=\"_ _2\"></span>vic<span class=\"_ _2\"></span>es to </td><td class=\"t m0 x89c h193 y24a3 ff76 fs129 fc1 sc0 ls6c ws7e\">Cloud-<span class=\"_ _2\"></span>relat<span class=\"_ _0\"></span>ed spend commitment over<span class=\"_ _0\"></span> the term </td></tr><tr><td class=\"t m0 x1e7 h187 y24a4 ff75 fs129 fc1 sc0 ls76 ws5\">Web<span class=\"_ _0\"></span> Ser<span class=\"_ _2\"></span>vices<span class=\"_ _314\"> </span></td><td class=\"t m0 x105c h193 y24a4 ff76 fs129 fc1 sc0 ls6c ws7e\">provide cloud services to<span class=\"_ _0\"></span> LS<span class=\"_ _2\"></span>EG\u2019<span class=\"_ _0\"></span>s Markets, Risk Int<span class=\"_ _0\"></span>elligence </td><td class=\"t m0 x89c h193 y24a4 ff76 fs129 fc1 sc0 ls6c ws7e\">of the agr<span class=\"_ _0\"></span>eement<span class=\"_ _314\"> </span></td></tr><tr><td></td><td class=\"t m0 x105c h193 y24a5 ff76 fs129 fc1 sc0 ls89 wsda\">and FTSE Russell<span class=\"_ _0\"></span> div<span class=\"_ _2\"></span>isions.<span class=\"_ _0\"></span> This will strengthen LSEG\u2019s </td><td></td></tr><tr><td></td><td class=\"t m0 x105c h193 y24a6 ff76 fs129 fc1 sc0 ls6c ws7e\">resilience<span class=\"_ _0\"></span> and securit<span class=\"_ _2\"></span>y while<span class=\"_ _0\"></span> delivering new services and </td><td></td></tr><tr><td></td><td class=\"t m0 x105c h193 y24a7 ff76 fs129 fc1 sc0 ls89 wsda\">product<span class=\"_ _2\"></span>s<span class=\"_ _0\"></span> for customers.<span class=\"_ _314\"> </span></td><td></td></tr><tr><td class=\"t m0 x1e7 h193 y24a8 ff76 fs129 fc1 sc0 ls6a ws3\">Agr<span class=\"_ _2\"></span>eeme<span class=\"_ _2\"></span>nt wi<span class=\"_ _2\"></span>th <span class=\"ff75\">Re<span class=\"_ _2\"></span>uter<span class=\"_ _2\"></span>s New<span class=\"_ _2\"></span>s</span><span class=\"ls4\">,</span><span class=\"ls4\"> </span></td><td class=\"c n x105f y221f w9e5 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls6a ws3\">T<span class=\"_ _0\"></span>o rece<span class=\"_ _2\"></span>ive n<span class=\"_ _2\"></span>ews a<span class=\"_ _2\"></span>nd ed<span class=\"_ _2\"></span>itor<span class=\"_ _2\"></span>ial co<span class=\"_ _2\"></span>nten<span class=\"_ _2\"></span>t<span class=\"_ _314\"> </span></div></td><td class=\"c n x1060 y221f w9e6 h21d\"><div class=\"t m0 x1e4 h193 y204b ff76 fs129 fc1 sc0 ls76 ws5\">M<span class=\"_ _2\"></span>inimum<span class=\"_ _0\"></span> CPI adjus<span class=\"_ _2\"></span>ted<span class=\"_ _0\"></span> payment<span class=\"_ _2\"></span>, which<span class=\"_ _0\"></span> was<span class=\"_ _314\"> </span></div></td></tr><tr><td class=\"t m0 x1e7 h193 y24a9 ff76 fs129 fc1 sc0 ls6a ws3\">en<span class=\"_ _2\"></span>tered i<span class=\"_ _2\"></span>nto in 20<span class=\"_ _2\"></span>18<span class=\"_ _2\"></span>, for a 30<span class=\"_ _2\"></span>-<span class=\"_ _2\"></span>year t<span class=\"_ _2\"></span>erm<span class=\"_ _314\"> </span></td><td></td><td class=\"t m0 x89c h193 y24a9 ff76 fs129 fc1 sc0 ls89 wsda\">US$398 million f<span class=\"_ _0\"></span>or 20<span class=\"_ _0\"></span>25<span class=\"_ _314\"> </span></td></tr></table>1 <span class=\"_ _c\"> </span>T<span class=\"_ _2\"></span>he rem<span class=\"_ _2\"></span>ain<span class=\"_ _2\"></span>ing c<span class=\"_ _2\"></span>omm<span class=\"_ _2\"></span>itm<span class=\"_ _2\"></span>ent a<span class=\"_ _2\"></span>t 31 D<span class=\"_ _2\"></span>ece<span class=\"_ _2\"></span>mbe<span class=\"_ _2\"></span>r 2025 is US<span class=\"_ _2\"></span>$2.<span class=\"_ _2\"></span>8 bil<span class=\"_ _2\"></span>lio<span class=\"_ _2\"></span>n.<span class=\"_ _314\"> </span>For many of<span class=\"_ _0\"></span> these mat<span class=\"_ _2\"></span>ters it<span class=\"_ _0\"></span> is too early to<span class=\"_ _0\"></span> determine the likely<span class=\"_ _0\"></span> outcome, or to<span class=\"_ _0\"></span> reliably estimate the amount of any<span class=\"_ _0\"></span> loss as a c<span class=\"_ _0\"></span>onsequence and th<span class=\"_ _2\"></span>erefore n<span class=\"_ _2\"></span>o prov<span class=\"_ _2\"></span>isio<span class=\"_ _2\"></span>n is mad<span class=\"_ _2\"></span>e. Wh<span class=\"_ _2\"></span>ile th<span class=\"_ _2\"></span>e out<span class=\"_ _2\"></span>come of l<span class=\"_ _2\"></span>egal<span class=\"_ _2\"></span>, regu<span class=\"_ _2\"></span>lator<span class=\"_ _2\"></span>y<span class=\"_ _2\"></span> and tax matters can be inherently dif<span class=\"_ _2\"></span>ficult to assess and/<span class=\"_ _0\"></span>or the potential loss often cannot be reli<span class=\"_ _0\"></span>abl<span class=\"_ _2\"></span>y<span class=\"_ _0\"></span> es<span class=\"_ _2\"></span>timated, w<span class=\"_ _0\"></span>e do not believ<span class=\"_ _0\"></span>e that the liabilities, if any<span class=\"_ _0\"></span>, which could<span class=\"_ _0\"></span> result from the r<span class=\"_ _0\"></span>esolut<span class=\"_ _2\"></span>ion o<span class=\"_ _0\"></span>f the legal, regulatory and tax matters that arise in the normal course o<span class=\"_ _0\"></span>f business are lik<span class=\"_ _0\"></span>ely to hav<span class=\"_ _0\"></span>e a material<span class=\"_ _0\"></span> adver<span class=\"_ _2\"></span>se<span class=\"_ _0\"></span> ef<span class=\"_ _2\"></span>fect on our<span class=\"_ _0\"></span> consolidated financial po<span class=\"_ _2\"></span>sit<span class=\"_ _2\"></span>ion, p<span class=\"_ _2\"></span>rof<span class=\"_ _2\"></span>it<span class=\"_ _2\"></span>, or ca<span class=\"_ _2\"></span>sh res<span class=\"_ _2\"></span>ources<span class=\"_ _2\"></span>. How<span class=\"_ _2\"></span>ever, it is p<span class=\"_ _2\"></span>ossi<span class=\"_ _2\"></span>ble t<span class=\"_ _2\"></span>hat f<span class=\"_ _2\"></span>utur<span class=\"_ _2\"></span>e resu<span class=\"_ _2\"></span>lt<span class=\"_ _2\"></span>s coul<span class=\"_ _2\"></span>d be mat<span class=\"_ _2\"></span>eria<span class=\"_ _2\"></span>lly af<span class=\"_ _2\"></span>fe<span class=\"_ _2\"></span>cte<span class=\"_ _2\"></span>d by any d<span class=\"_ _2\"></span>evel<span class=\"_ _2\"></span>opme<span class=\"_ _2\"></span>nt<span class=\"_ _2\"></span>s relat<span class=\"_ _2\"></span>ing to<span class=\"_ _2\"></span> any s<span class=\"_ _2\"></span>uch le<span class=\"_ _2\"></span>gal<span class=\"_ _2\"></span>, regul<span class=\"_ _2\"></span>ator<span class=\"_ _2\"></span>y an<span class=\"_ _2\"></span>d tax m<span class=\"_ _2\"></span>at<span class=\"_ _2\"></span>ter<span class=\"_ _2\"></span>s.<span class=\"_ _314\"> </span>",
   "dimensions": {
    "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
    "language": "en",
    "entity": "scheme:213800QAUUUP6I445N30",
    "period": "2025-01-01T00:00:00/2026-01-01T00:00:00"
   }
  }
 }
}