Just Annual Report and Accounts 2021

JUST GROUP PLC Annual Report and Accounts 2021

STRATEGIC PRIORITIES

Over the last three years we have worked hard to ensure we have the right foundations to grow our business, and during 2021 we started to take advantage of that.

After achieving capital self-sufficiency in 2020, we commenced the transition to the next phase in our strategy, growth. 2021 has been a really important year as we reposition our business to achieve our strategic ambitions. We have maintained our focus on capital whilst also strengthening our focus on transformation, growth and innovation across the Group.

IMPROVE OUR CAPITAL POSITION

TRANSFORM HOW WE WORK

FOCUS Maintain a sustainable capital model to maximise opportunities available to us.

FOCUS Continue to streamline and automate our operations across the business. Evolve our workplace, making it fit for the future.

2021 PROGRESS • Capital management actions were delivered. We have further reduced our property exposure through asset portfolio sales. • We have refreshed the model we use to calculate our capital requirement and received approval to use the model from the PRA. • We have made an opportunistic early refinancing of some expensive debt to a level commensurate to our credit rating, thus improving underlying capital generation. • We have eliminated our cost overrun as we shift our business to a leaner and more efficient model.

2021 PROGRESS • Our modern workplace trial successfully launched this year with upgrades to technology and our working environments. • We have automated over 30 processes in the year and continue to identify more to convert in the future. • We are appropriately evolving operations within our business lines and functions to be able to service our customers for the future.

Principal risks and uncertainties

A Regulatory changes and supervision

B Economic environment C Brand and reputation D Pricing and reinsurance E Operational processes and IT systems f Chosen market environment

2022 FOCUS • This priority will shift to "grow sustainably" as we move into 2022. We intend to take advantage of the multiple growth opportunities available to us whilst being capital generative. We will continue to reduce our property exposure, maintain our focus on capital and seek to grow shareholder returns.

2022 FOCUS • Continuation of our transformation initiatives with a focus on enabling sufficient scalability across the Group.

LINK TO RISKS AND UNCERTAINTIES:

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