Company: BCS
Filing Date: 2025-02-20
Form Type: 424B2
Source: 0001193125-25-030302
Chunk: 46

Company: BARCLAYS PLC
Filing Date: 2025-02-20
Form: 424B2
Chunk 46
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 addition, the Issuer’s Distributable Items available for making payments to holders may also be adversely affected by the servicing of other instruments
issued by the Issuer or by Group subsidiaries.

The level of the Issuer’s Distributable Items may be further affected by changes to
regulation or the requirements and expectations of applicable regulatory authorities. For example, the U.K. implemented U.K. ring-fencing requirements which became effective as of January 2019, while in the United States, an intermediate holding
company (“U.S. IHC”) was created to comply with section 165 of the Dodd-Frank Act (each as discussed in the section entitled “Risk review—Supervision and regulation” on
pages 308-320 of the 2024 Form 20-F). Any such changes or similar local capital or ring-fencing requirements in other jurisdictions, could adversely affect the
Issuer’s Distributable Items in the future.

In addition, the ability of the Group’s subsidiaries to make distributions and the
Issuer’s ability to receive distributions and other payments from its investments in other entities is subject to applicable local laws and other restrictions, including such subsidiaries’ respective regulatory, capital and leverage
requirements, statutory reserves, financial and operating performance and applicable tax laws. For example, BBPLC is an institution regulated by the PRA and subject to the U.K. CRD regime, including capital and combined buffer requirements such as
those described for the Group (see “—The Capital Regulations impose capital and regulatory requirements that will restrict the Issuer’s ability to make discretionary distributions in certain circumstances, in which case the Issuer may reduce or cancel interest payments on the Securities. In addition, the PRA has broad

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powers to impose prudential requirements on the Issuer which may include requiring the Issuer to limit or cancel interest on the Securities” herein). In addition,
BBUKPLC and the U.S. IHC each have individual capital and buffer requirements and similar requirements may apply to other subsidiaries over time. The continuing progress in the implementation of international principles and EU and domestic rules and
regulations (including such rules and regulations in the U.K. or in other jurisdictions in which the Group operates) around additional loss absorbing capacity (such as TLAC and MREL) are expected to increase current requirements. Such rules and
regulations could limit the payment of dividends, distributions and other payments to the Issuer by its subsidiaries, which could restrict the Issuer’s available funding for meeting its obligations or funding