#1Emirates NBD Investor Presentation Q3 2022 November 2022 "CREATE OPPORTUNITIES TO PROSPER"#2Important Information Disclaimer The material in this presentation is general background information about Emirates NBD's activities current at the date of the presentation. It is information given in summary form and does not purport to be complete. It is not intended to be relied upon as advice to investors or potential investors and does not take in to account the investment objectives, financial situation or needs of any particular investor. These should be considered, with or without professional advice when deciding if an investment is appropriate. The information contained here in has been prepared by Emirates NBD. Some of the information relied on by Emirates NBD is obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. Forward Looking Statements It is possible that this presentation could or may contain forward-looking statements that are based on current expectations or beliefs, as well as assumptions about future events. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements often use words such as anticipate, target, expect, estimate, intend, plan, goal, believe, will, may, should, would, could or other words of similar meaning. Undue reliance should not be placed on any such statements because, by their very nature, they are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and the Group's plans and objectives, to differ materially from those expressed or implied in the forward- looking statements. There are several factors which could cause actual results to differ materially from those expressed or implied in forward looking statements. Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business, competitive, market and regulatory forces, future exchange and interest rates, changes in tax rates and future business combinations or dispositions. Emirates NBD undertakes no obligation to revise or update any forward-looking statement contained within this presentation, regardless of whether those statements are affected as a result of new information, future events or otherwise. Rounding Rounding differences may appear throughout the presentation. 2#3Empty#4Emirates NBD is a leading bank in the MENAT Region Key Highlights as of September 2022 AED 13.25 Share Price As of 28 Oct 2022 AED 721bn Assets As of 30 Sep 2022 AED 481bn Total Deposits As of 30 Sep 2022 AED 419bn Total Loans As of 30 Sep 2022 10 900 Branches 17+ Million Customers 13 Countries 35,000+ Exchange Hour 28,000+ Employees 56% Government of Dubai 4th Largest Bank in GCC 2nd Largest Bank in UAE Holding USD 4.13bn Brand Value 18.5% Capital Ratio 40% Foreign Ownership Limit AED 84bn Market Cap As of 28 Oct 2022 11/10/2022 4:49 PM 4#5Emirates NBD at a glance Key Highlights · Largest financial institution in Dubai, 4th largest in the GCC . Emirates NBD's International Presence 16 1 Moscow 7 Germany 1 London Leading retail banking franchise with a branch network of (13) Austria 900 branches throughout the MENAT region with operations in 13 countries • Leader in digital banking: largest digital lifestyle bank in the region • 55.8% indirectly owned by the Government of Dubai through ICD Stable Credit Ratings Moody's Fitch CI Short-term Long-term Outlook P-1 A2 Stable F1 A+ Stable A1 A+ Stable 696 Turkey 68 Egypt 7 KSA 1 Bahrain 105UAE 1 Mumbai Beijing 1 1 Singapore 1 Jakarta Emirates NBD Emirates NBD Rep. Offices DenizBank 5#6Leader in Digital Banking and Innovation Overview liv. digital bank by Emirates NBD further strengthened its proposition growing its customer base to more than 660,000 customers in UAE & KSA Liv. during 2022 has launched Liv. Young, the region's first banking app and debit card for kids aged 8-18 years. Liv. Young helps kids build good money habits with features such as saving with goal accounts, tracking their spends, and earning by completing tasks/ chores assigned by parents Liv. Prime the subscription-based membership programme, offering customers an enhanced banking and lifestyle experience & Liv. credit cards which offers customers the flexibility to choose and easily switch between reward programmes along with added lifestyle benefits continued to gain traction in the year Liv. continued to engage customers through various marketing campaigns including the roll out of Liv. Blog to help customers stay up-to-date on money matters Key Digital Developments • 10 90% of all face-to-face card payment transactions now 'contactless' through Mobile wallet Continued to develop its digital platforms with enhancements to the mobile digital account opening process in UAE and roll out of a self-service tablet banking proposition for account opening & credit cards in KSA The mobile app was enhanced with new features for payments and transfers An enhanced tablet banking solution for new credit card sourcing was launched Launched DEWA & TECOM IPO portal on Emirates NBD website with real time direct integration with Dubai Financial Market (DFM) Transactions via digital channels 96% 2021 Eligible Retail Business customers digitally active 84% 2021 Eligible Corporate clients opting for digital platform 91% 2021 98% 85% 91% H1 2022 H1 2022 H1 2022 6#710 ESG Performance Key Developments First female director elected to the Board in February 2022. First UAE banking Group to commit to female leadership target, aiming for 25% women in senior management by 2027 Environmental Sustainability Energy Efficiency • • . • 4 LEED* GOLD certified branches in the UAE First LEED GOLD certified bank branch in Saudi Arabia 6 LEED certified engineers in Procurement & Facility Management ISO 14001:2015 certified for our environmental management system 4% reduction in electricity consumption compared to 2021 3% reduction in Greenhouse Gas (GHG) emissions EmCap raised USD 9 bn of sustainable capital from 14 syndicated loan and debt capital market transactions for clients in UAE, Saudi Arabia, India, China, Singapore and Turkey ESG Certification for 130 employees across the UAE, KSA, Singapore, and London Raised first Sustainability-linked loan from a bank from the Gulf region: ➤ KPI 1: Women in Senior Management ➤ KPI 2: Reduction in Water Consumption B ESG Finance and Investment Activities ENBD Asset Management won contract to create and manage Masdar Green REIT - UAE's first 'green' REIT Wealth Management and Sustainable Investment Framework development ENBD Asset Management signed up to UN PRI - Principles for Responsible Investment Social Impact • • • 78 nationalities make up diverse workforce of full-time employees 41% of our employees are Women Contributed AED 64m to local community in 2021 605 volunteer deployments via corporate volunteering programme For more about ESG report, please visit: 7#8Stable Shareholder Base and Diversified Business Model Split of Ownership - Anchored by the Government of Dubai Ownership structure as of 30 September 2022 Key Highlights Others 39% Capital Assets 5% Balanced Asset Composition % by segment as of 30 September 2022 Deniz Bank, 17% GM&T, 22% Islamic Banking 11/10/2022 4:49 PM 10% ' Investment Corporation of Dubai 56% A flagship bank for the Government of Dubai and the UAE Strong and supportive shareholder base from the Government of Dubai via Investment Corporation of Dubai International presence in Asia, Europe and MENAT across 13 countries. DenizBank acquisition further enhanced geographic profile Well diversified and balanced asset composition between corporate, consumer and Islamic banking Foreign ownership limit raised to 40% from 20% in July 2020 with foreign ownership at 12.4% at 1 Nov 2022 Equity Analysts Coverage RBWM, 11% Recommendation All figures in AED Buy Hold Sell 13 Target Price 17.1 CI&B, 41% Price as of 28 October 2022 13.25 EPS as of 30 September 2022 1.38 8#9Emirates NBD is one of the largest banks in the UAE Total Income In AED mn Emirates NBD Emirates NBD 22,693 بنك أبوظبي الأول FAB First Abu Dhabi Bank بنك أبوظبي التجاري ADCB بنك أبوظبي الأول Net Profit In AED mn Q3 2022 Total Loans In AED bn Coverage Ratio & NPLs (%) As of 30 September 2022 بنك أبوظبي الأول FAB 10,949 FAB 465 First Abu Dhabi Bank First Abu Dhabi Bank المشرق máshreq 150 10 CET-1 Ratio (%) NPL % As of 30 September 2022 3.6 Emirates NBD 15.5 18,022 Emirates NBD 9,098 Emirates NBD 419 Emirates NBD 143 5.8 9,941 بنك أبوظبي التجاري ADCB 4,650 بنك أبوظبي التجاري ADCB بنك أبوظبي الأول المشرق máshreq 14.0 251 FAB 103 بنك دبي الإسلامي 3.4 13.9 Dubai Islamic Bank First Abu Dhabi Bank بنك دبي الإسلامي 9,873 بنك دبي الإسلامي بنك دبي الإسلامي Dubai Islamic Bank Dubai Islamic Bank 4,101 Dubai Islamic Bank 236 المشرق máshreq مصرف أبوظبي الإسلامي ADIB 5,343 4,516 11/10/2022 4:49 PM المشرق mashreq مصرف أبوظبي الإسلامي ADIB 2,580 2,450 مصرف أبوظبي الإسلامي ADIB المشرق mashreq بنك أبو ظبي التجاري ADCB بنك دبي الإسلامي 103 Dubai Islamic Bank 91 مصرف أبو ظبي الإسلامي ADIB بنك أبوظبي الأول 87 5.5 FAB First Abu Dhabi Bank 76 6.5 68 8.6 مصرف أبو ظبي الإسلامي ADIB بنك أبوظبي التجاري ADCB 13.1 12.8 12.6 9#10Consistently profitable due to diversified and resilient business model 8.8% 10.5% 15.7% 19.7% 18.0% 18.8% 20.3% 16.5% 9.5% 12.8% 16.4% Total Income CAGR (12-21): 10% Net Profit CAGR (12-21): 15% 17.4 15.2 15.4 14.7 14.4 11.8 10.2 10.0 8.3 7.1 7.2 5.1 3.3 2.6 2012 2013 2014 2015 2016 11/10/2022 4:49 PM 2017 2018 23.8 23.2 22.4 22.7 14.5 9.3 9.1 7.0 2019 2020 2021 9M 2022 ■Total Income (AED Bn) ■Net Profit (AED Bn) 10#11UAE economy rebounding with 5.7% growth expected in 2022 UAE GDP Growth 8.0 % y/y 4.0 2.4 1.2 1.1 0.0 (4.0) (5.0) 3.9 7.0 3.9 (8.0) 2017 2018 2019 2020 2021 2022f 2023f Key Highlights 16 The Dubai PMI rose to 56.4 in July, the highest reading since mid-2019 Dubai tourism sector is expected to benefit from the Qatar World Cup ENBD Research expects UAE GDP to grow by 5.7% and the non-oil economy to grow by 4.0% in 2022 Dubai's sale price for villas up 30% and apartments up 24% y/y in Q2- 2022 Dubai property prices growth - June 2022 50 % y/y 40 30 30 20 -Villa -Apartments 10 0 (10) (20) Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Source: UAE Central Bank, Bloomberg, UAE Ministry of Health, Asteco Dubai CPI 8 % y/y 6 4 2 0 (2) (4) (6) 1/1/2019 6/1/2019 11/1/2019 4/1/2020 9/1/2020 2/1/2021 7/1/2021 12/1/2021 5/1/2022 11#12Dubai: Positioning for future growth Key contributors to Dubai GDP Other Hospitality ICT 4.4 6.3 4.8 6.9 Goverment Construction Transport Real estate services Manufacturing Financial Services 11.0 8.4 8.6 12.4 14.6 Trade 22.6 0.0 5.0 10.0 15.0 20.0 25.0 Key Highlights 10 The Dubai PMI rose to 56.4 in July, the highest reading since mid-2019 Dubai tourism sector is expected to benefit from the Qatar World Cup ENBD Research expects UAE GDP to grow by 5.7% and the non-oil economy to grow by 4.0% in 2022 Dubai's sale price for villas up 30% and apartments up 24% y/y in Q2- 2022 Visitors to Dubai In million tourists 8.36 8.06 8.10 2.52 7.12 Dubai occupancy rates and RevPAR 100 % 80 60 60 200 160 120 40 76.3 78.0 80 76.6 75.2 73.6 60 60.7 45.9 20 40 0 2016 2017 2018 2019 2021 2022 Source: UAE Central Bank, Bloomberg, UAE Ministry of Health, Asteco 2017 2018 Average hotel occupancy rates (LHS) 2019 2020 2021 0 2022 USD Average revenue per available room RevPAR (RHS) 12#13Executive Summary 9M'22 Results Key Highlights AED Strong momentum continues with 9M'22 profit up 25% to AED 9.1bn, almost at 2021 full-year profit level G Quarterly profit exceeds $1 billion equivalent AED Income 31% higher driven by improved loan & deposit mix coupled with higher interest rates Key Metrics and Guidance Net Profit AED 9.1bn +25% y-o-y NIM 3.10% 2022 guidance: 3.20-3.30% CET 1 15.5% LCR 152.2% 10 AED Strong new lending from retail and corporate customers International contributes 40% of diversified income, with DenizBank delivering strong customer income growth Solid balance sheet and strong operating profit remain core strengths of the Group Cost to Income 28.2% 2022 guidance: Within 33% NPL 5.8% 2022 guidance: < mid 6% Loan Growth (1)% in 9M'22 2022 guidance: Low-single digit NPL Cover 142.6% 2022 CoR guidance: 100-125 bps 13#14Emirates NBD's profit rises 25% YoY to AED 9.1 bn on strong diversified income growth Highlights Income Liquidity Risk Expenses Capital Divisional 10 ( Emirates NBD Emirates NBD DenizBank Excluding DenizBank Income Statement All figures are in AED bn 9M'22 9M'21 Better / (Worse) 9M'22 9M'21 Better / (Worse) 9M'22 9M'21 Better / (Worse) Net interest income 15.5 12.6 23% 10.6 8.6 23% 4.9 4.0 24% Non-funded income 7.2 4.7 52% 4.7 3.8 24% 2.5 0.9 164% Total income 22.7 17.3 31% 15.3 12.4 23% 7.4 4.9 52% Operating expenses (6.4) (5.7) (12)% (4.7) (4.0) (16)% (1.7) (1.7) (1)% Pre-impairment operating profit 16.3 11.6 41% 10.6 8.4 26% 5.7 3.2 78% Impairment allowances (3.3) (3.7) 12% (2.4) (2.4) 0% (0.8) Tax and others (1.5) (0.6) (168)% (0.2) (0.2) (25)% (1.3) (1.3) 35% (0.4) (221)% Profit after tax & before 11.5 7.3 58% 8.0 5.8 38% 3.5 1.5 134% hyperinflation Hyperinflation adjustment (2.4) - N/M N/M (2.4) N/M Net profit 9.1 7.3 25% 8.0 5.8 38% 1.1 1.5 (25)% Cost: income ratio NIM 28.2% 33.1% (4.9)% 30.8% 32.6% (1.8)% 22.8% 34.2% (11.4)% 3.10% 2.51% 0.59% 2.53% 2.11% 0.42% 6.04% 4.28% 1.76% Key Highlights Group profit up 25% on strong diversified income growth - ENBD income higher from improving transaction volumes and increased margins DeinzBank income higher from increased lending, wider margins and hedging Lower provisions as 90bp cost of risk for 9M'22 reflects robust operating environment AED 1.1 bn net profit from DenizBank despite AED 2.4 bn hyperinflation adjustment Accelerating investment in international growth and digital Higher NIMS reflect rising interest rates and an improvement in DenizBank margins Strong new lending to retail and corporates helping offset sovereign repayments 14#15Quarterly profits exceed US$ 1bn equivalent Highlights Income Liquidity Risk Expenses Capital Divisional Income Statement Better / Q3-22 Q3-21 Q2-22 All figures are in AED bn (Worse) Better/ (Worse) Net interest income 6.1 4.4 37% 5.1 18% • Non-funded income 2.4 1.3 83% 2.7 -9% Total income 8.5 5.8 47% 7.8 9% • Operating expenses (2.3) (2.0) (19)% (2.1) (12)% Pre-impairment operating profit 6.2 3.8 62% 5.7 8% Impairment allowances (1.4) (1.1) (25)% (0.5) (199)% Tax and others (0.5) (0.2) (141)% (0.7) 37% Profit after tax and before hyperinflation 4.3 2.5 72% 4.5 (4)% Hyperinflation adjustment (0.5) 0.0 n/m (1.0) 47% Net profit 3.8 2.5 51% 3.5 8% Cost: income ratio 27.4% 34.0% 6.6% 26.7% NIM 3.57% 2.65% 0.92% 3.09% (0.7)% 0.48% ● Key Highlights • Strong Q3-22 with net profit exceeding US$1 bn equivalent, an increase of 51% y-o-y on higher income Net interest income up 37% y-o-y on improved loan & deposit mix Higher interest rates feeding through to margins Strong new lending growth Non-funded income up 83% y-o-y from increased transaction activity Increased local and international card transactions Growth in client flow FX & Derivative transaction. income Expenses well controlled in Q3-22 with positive jaws Group accelerating investment in international and digital Q3-22 cost of risk 111 bps within guidance Healthy new lending on continued strong retail and renewed corporate lending demand Group maintains strong Capital and Liquidity with coverage ratio highest amongst regional peers Balance Sheet All figures are in AED bn 30-Sep-22 31-Dec-21 Inc/ (Dec) 30-Jun-22 Inc/ (Dec) Total assets 721 687 5% 711 1% • Loans 419 422 (1)% 425 (1)% Deposits 481 456 5% 468 3% CET-1 (%) 15.5% 15.1% 0.4% 15.0% 0.1% . LCR (%) 152.2% NPL ratio (%) 5.8% 177.6% 6.3% (25.4)% (0.5)% 154.8% (2.6)% 6.1% (0.3)% 15#16NIMs trending towards top end of guidance Net Interest Margin (%) Quarterly NIM --YTD NIM 3.57 Highlights 2.47 3.09 2.89 2.82 3.10 2.65 2.65 2.59 2.60 2.86 Fed Funds Upper Bound 2.51 2.53 1.5% 2.5% 1.75% 0.25% 0.25% 0.25% 0.50% 2017 2018 2019 2020 Q3 21 Q4 21 Q1 22 1.75% Q2 22 3.25% Q3 22 NIM drivers 9M-22 vs 9M-21 (%) 2.51 3.10 (0.07) (0.15) 0.17 0.64 9M 21 Loan Yield Deposit Cost Emirates NBD Treasury, & Other Income Liquidity Risk Expenses Capital Divisional Key Highlights 9M'22 NIM improved 59 bps y-o-y due to rate rises and improving DenizBank NIMS Q3-22 NIM up 48 bps q-o-q on ENBD's improved loan and deposit mix Loan yields up 94 bps on higher retail balances and rising interest rates as 3m EIBOR increased 85bp in Q2 and 168bp Q3 DenizBank margins stable in Q3 as impact of new regulations designed to encourage lower lending rates begin to take affect NIM drivers Q3-22 vs Q2-22 (%) 3.09 (0.25) (0.17) 3.57 0.94 (0.05) DenizBank 9M 22 Q2 22 Loan Yield Deposit Cost Treasury DenizBank Q3 22 & Others Emirates NBD 16#17Non-funded Income Non-funded income Q3-22 Q3-21 All figures are in AED mn Better / (Worse) Q2-22 Better / (Worse) Fee and Commission income 1,806 1,565 15% 1,782 1% Fee and Commission expense (744) (654) (14)% (714) (4)% Net Fee and Commission Income 1,062 911 17% 1,068 (1)% Other operating income 1,388 379 266% 1,552 (11)% Gain/loss on trading securities (45) 23 (296)% 32 (242)% Total Non-funded income 2,404 1,313 83% 2,652 (9)% Fee and Commission Income All figures are in AED mn 1,565 1,538 1,527 1,782 63 231 1,806 54 218 Brokerage & AM fees 81 113 58 Trade Finance 192 192 198 16 Highlights Income Liquidity Risk Expenses Capital Divisional Key Highlights Q3-22 fee and commission income 15% higher y-o-y from increased local and international retail card business at both ENBD and DenizBank and strong investment banking revenue Other operating income up substantially y-o-y due to Higher retail FX volumes as customers took advantage of strong dollar and increased remittance Other operating income 11% lower q-o-q due to higher level of property gains in Q2 compared to Q3 Other Operating Income 1,552 All figures are in AED mn 5 1,378 1,388 28 359 1,188 28 158 430 49 Investment Sec. Property & Other 217 1,188 1,202 1,488 1,533 FX & Derivative 379 1,293 1,232 1,271 Fee Income 921 922 23 166 191 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 17#18* Improving loans and deposit mix Gross Loans by Type All figures are in AED bn -1% 475 459 463 463 457 DenizBank 79 65 65 66 66 EI* 47 47 50 52 52 Retail 54 56 59 61 63 Sovereign 158 152 139 124 114 Corporate 138 139 150 160 163 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Deposits by Type • Highlights Income Liquidity Risk Expenses Capital Divisional 10 Key Highlights Gross lending ex. Sovereign grew up 12% (AED 36 bn) in 9M'22 Retail lending up 13% (AED 7 bn) with strong demand across all products Corporate lending ex. Sovereign up 17% (AED 24 bn) El Financing and Receivables up 11% (AED 5 bn) DenizBank's gross loans up 2%, after FX Deposit mix improved in 9M'22 with AED 18bn increase in CASA balance despite rising interest rates reflecting strong liquidity CASA represents 63% of total Group deposits DenizBank's deposits up 59%% in 9M'22 in local currency Gross Loans by Sector (%) Net Loans by Geography (%) All figures are in AED bn +5% 7 481 467 469 468 Other 3% Agric. 1% 456 Manuf. 5% DenizBank 78 70 79 73 69 Trans & 10 8 10 13 16 Other 117 134 124 118 114 Time 272 264 272 246 254 CASA Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Services 11% Trade 7% Construction & Hotels 5% O FI & Mgmt Cos 9% Real estate 10% Sovereign 25% International 25% GCC 2% UAE 73% Personal 24% Gross Islamic Financing Net of Deferred Income 18#19Credit quality improving with market leading coverage Highlights Income Liquidity Risk Expenses Capital Divisional 16 Impaired loans and allowances 6.2 6.3 6.4 6.1 5.8 37.1 37.2 37.9 37.7 37.9 29.2 29.2 29.5 28.3 26.6 133.3 126.7 128.5 127.5 Q3 21 Q4 21 Q1 22 Q2 22 Impaired Loans (AED Bn) * Impairment Allowances (AED Bn) Coverage ratio (%) NPL Ratio (%) Coverage by Stage* 142.6 Q3 22 Stagewise ECL (AED bn) 37.2 37.9 Stage 1 1.0% 22.2% 1.1 % 25.5% 3.8 4.4 Stage 1 Stage 2 6.9 7.6 Stage 2 Stage 3 97.2 % 90.6% Stage 3 26.4 25.9 Key Highlights NPL ratio improved by 0.3% to 5.8% in Q3-22 on continued strong writebacks and recoveries Coverage ratio strengthened 9.3% to 142.6% in Q3-22 S3 coverage increased to 97.2% as writeback and recoveries reduced impaired loan balances S2 coverage increased due to a movement in MEV assumptions Strong coverage maintained as higher interest rates may create challenges in future quarters • 90 bps cost of risk for 9M'22 better than guidance at this point Total Gross Loans FY-21 Q3-22 FY-21 Q3-22 * Includes purchase originated credit impaired loans of AED 0.8 bn (Dec-21: AED 1bn) acquired at fair value / **Stage 3 coverage adjusted for POCI acquired at FV Q3-22 AED 457bn Stage 1 87.6% 86.8% Stage 2 6.8% 6.6% FY-21 AED 459bn 6.3% Stage 3 5.8% 19#20Operating Expenses Cost to Income Ratio (%) 34.0 34.8 33.1 33.5 30.8 28.7 28.2 26.7 Highlights Income Liquidity Risk Expenses Capital Divisional 10 27.4 Key Highlights 9M'22 cost to income ratio at 28.2% within guidance reflecting stronger income enabling accelerated investment for growth Staff costs increased y-o-y on incentives to drive underlying earnings. and investment in human capital for future growth in digital and international Higher depreciation and amortization costs reflect increased investment in digital platform Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 CI Ratio (YTD) Guidance CI Ratio (QTD) Operating expenses trends All figures are in AED mn +19% 2,272 2,327 2,078 1,956 1,965 499 Other Cost 625 457 410 400 177 IT & Commun. 182 150 156 175 255 Dep. & Amort. 236 239 217 208 1,396 1,157 1,229 1,192 1,238 Staff Cost Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Operating expenses composition (%) Breakdown as of Q3-22 Depreciation 9% Amortization 2% Other 11% O Staff 60% IT 4% Occupancy 3% Equip. & Supp. 3% Commun. 3% Service & Legal... Marketing 2% 20#21Funding & Liquidity Advances to Deposit and Liquidity Coverage Ratio (%) 180 170 177.6 157.2 ADR % LCR % 100 160 150 157.4 154.8 152.2 96 140 130 92 120 94.0 92.5 88 90.7 90.8 110 87.2 100 84 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Composition of Liabilities and Debt Issued (%) Customer Deposits 76% Banks 6% Highlights Income Liquidity Risk Expenses Capital Divisional 10 Key Highlights LCR of 152.2% and ADR of 87.2% demonstrate healthy liquidity Liquid assets* of AED 65 billion cover 10% of total liabilities, 14% of deposits AED 4.6 bn of term debt issued in 9M'22 Emirates NBD successfully issued a US$ 500m (AED 1.8 bn) 5-year benchmark bond in October despite challenging market conditions AED 4.8 bn maturities for remainder of 2022 covered through excess issuance in 2020 and 2021 Maturity Profile of Debt/ Sukuk Issued AED 58.9 bn 18.0 0.0 10.9 0.4 9.6 Others 8% 8.0 0.4 7.6 17.9 1.0 6.4 0.0 4.8 0.5, 9.2 7.0 7.6 Debt/Sukuk 4.3 4.1 9% 2022 2023 2024 2025 2026 Beyond 2026 DenizBank Club Deal Public & Private Placement * *Includes cash and deposits with Central Banks, excludes interbank balances and liquid investment securities 21#22Capital Adequacy Highlights Income Liquidity Risk Expenses Capital Divisional Capital All figures are in AED bn Key Highlights 90.6 5.4 9.1 76.1 (0.4) 0.4 8.6 67.5 • CET-1 ratio improved by 0.4% to 15.5% during 2022 as AED 8.6 bn of net earnings more than offset 10% increase in RWAS on the back of growth in retail and corporate lending Capital ratios well above 11% / 12.5% / 14.5% CBUAE min. requirement CET-1 at 15.0% excluding ECL regulatory add-back IAS 29 hyperinflation adjustment is capital neutral CET1 31-Dec-21 Net earnings Interest on AT1 ECL add-back CET1 30-Sep-22 T1 T2 Capital 30-Sep-22 Risk Weighted Assets All figures are in AED bn Capital Ratios % +10% 489.9 479.2 451.1 457.9 19.2 446.4 18.3 1.1 18.1 18.5 18.0 DenizBank 117.3 122.6 T2% 1.1 2.0 1.1 1.1 1.1 113.1 120.4 110.5 2.1 1.9 AT1% 2.0 1.9 Operational Risk 30.8 30.8 30.8 31.3 30.8 11.2, 10.6 Market Risk 11.0 9.6 10.4, 16.1 CET1% 15.1 15.0 15.0 15.5 Credit Risk 288.3 295.5 303.6 320.0 325.9 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 22#23Divisional Performance Highlights Income Liquidity Risk Expenses Capital Divisional Key Highlights 22% Retail Banking and Wealth Management 19% 23% 12% 11% Lending increased by AED 6.5 bn, whilst CASA grew by a record AED 20 bn in first nine months of 2022 Launched the Emirates NBD Etihad Guest Credit Card offering one of the highest Etihad Guest earning and reward opportunities in the market as well as a 5-year strategic partnership with RSA Middle East covering general insurance products Successfully launched a series of UAE Strategic Investment Funds supporting investments into IPOs in UAE Extended tablet banking to credit cards allowing customers to apply for bundled products, and get instant credit decisioning Launched DEWA, TECOM and Salik IPO portal on the Emirates NBD website with real time direct integration with DFM for new investors Corporate and Institutional Banking Launched state-of-the-art fully digital platform to manage end-to-end IPO subscription website offering real- time on-boarding Implemented cutting-edge new platform for business ONLINE Net Profit is 1% higher on lower impairment allowances and higher fee income as increased equity capital market activity offset lower debt capital market volumes Strong growth in new lending offset substantial contractual repayments Emirates Islamic Net profit up 31% y-o-y to AED 1,054m on higher income and lower provisions Customer financing at AED 47.8bn, increased 12% from 2021, and customer deposits increased 16% in Q3- 22 with CASA now 77% of total deposits Global Markets and Treasury . Income grew 136% y-o-y in 9M'22 due to higher net interest income from balance sheet positioning, hedges and an increase in banking book investment income Non funded income 69% higher on strong Rates, Credit and FX Trading performance International Treasury functions grew revenue by 75% y-o-y Robust client FX flows with revenue increasing by 70% during 9M'22 DenizBank Income up by AED 2.5 billion (52%) and Impairment allowances AED 0.5 billion lower on strong writebacks and recoveries helping offset AED 2.4 billion hyperinflation adjustment Operating Segment Metrics 9M'22 Increase/ (Decrease) Income (mn) 7,312 Expense (mn) 1,923 Retail Banking and Wealth Management Profit (mn) 4,700 Loans (bn) 60 Deposits (bn) 199 Income (mn) 4,097 (5)% Expense (mn) 419 1% Corporate and Institutional Banking Profit (mn) 2,396 1% Loans (bn) 248 (6)% Deposits (bn) 148 (8)% Income (mn) 2,185 Expense (mn) 987 Emirates Islamic Profit (mn) 1,054 Loans (bn) 48 Deposits (bn) 55 Income (mn) 973 22% 22% 31% 12% 16% • >100% Global Markets and Treasury Expense (mn) 118 1% >100% Profit (mn) 795 Income (mn) 7,424 52% Expense (mn) 1,702 1% DenizBank Profit (mn) 1,139 (25)% Loans (bn) 63 3% Deposits (bn) 79 15% 23#24Emirates NBD APPENDIX "CREATE OPPORTUNITIES TO PROSPER"#25Hyperinflation Türkiye Consumer Price Index +138% 56% 52% 1,047 • 978 844 505 524 547 571 441 451 466 477 1,047 978 844 687 441 451 466 477 505 524 547 571 Dec 19 Mar 20 Jun 20 Sep 20 Dec 20 Mar 21 Jun 21 Sep 21 Dec 21 Mar 22 Jun 22 Sep 22 Key Highlights Loss on net monetary position for DenizBank was AED 2.4 bn for 9M'22 AED 2.4 bn debit P&L charge with corresponding credit offset to OCI making it capital neutral 1.9 1.5 0.3 0.6 (0.9) 3.5 0.2 (2.4) 1.1 • • Turkish CPI grew by 138% over preceding three-years and by 52% in 9M'22 DenizBank's results and financial position included within ENBD's consolidated Financial Statements are adjusted with effect from 1-Jan-22 Net Profit 9M'21 Income Expenses Provisions P&L Indexation Tax & others Profit after Hyperinflation Tax 9M'22 Adj Net Profit 9M'22 Monetary Assets Non-monetary Assets Net Monetary Position + . Monetary Liabilities • Equity Non-monetary Liabilities • • AED 0.6 bn credit to equity representing the impact of indexing non-monetary items from date of acquisition until 31-Dec-21 The positive impact on capital of 20 bps from hyperinflation adjustment is excluded from capital adequacy computations EPS for 9M'22, excluding hyperinflation adjustment, is 63% higher at AED 1.76 compared to 1.08 for 9M'21 IAS 29 is not applied to local accounts in 9M'22 25#26Highlights Income Liquidity Risk Expenses Capital Divisional 10 ( 9M'22 results -convenience translation to US$ Emirates NBD Emirates NBD DenizBank Excluding DenizBank Income Statement 9M'22 9M'21 All figures are in USD bn Better / (Worse) 9M'22 9M'21 Better / (Worse) 9M'22 9M'21 Better / (Worse) Net interest income 4.2 3.4 23% 2.9 2.4 23% 1.3 1.1 24% Non-funded income 2.0 1.3 52% 1.3 1.0 24% 0.7 0.3 164% Total income 6.2 4.7 31% 4.2 3.4 23% 2.0 1.3 52% Operating expenses (1.7) (1.6) (12)% (1.3) (1.1) (16)% (0.5) (0.5) (1)% Pre-impairment operating profit 4.4 3.2 41% 2.9 2.3 26% 1.6 0.9 78% Impairment allowances (0.9) (1.0) 12% (0.7) (0.7) 0% (0.2) Tax and others (0.4) (0.2) (168)% (168)% (0.1) (0.0) (25)% (0.4) (0.4) 35% (0.1) (221)% Profit after tax & before hyperinflation 3.1 2.0 58% 2.2 1.6 38% 1.0 0.4 134% Hyperinflation adjustment (0.7) - N/M N/M (0.7) - N/M Net profit 2.5 2.0 25% 2.2 1.6 38% 0.3 0.4 (25)% Cost: income ratio NIM 28.2% 33.1% (4.9)% 30.8% 32.6% (1.8)% 22.8% 34.2% (11.4)% 3.10% 2.51% 0.59% 2.53% 2.11% 0.42% 6.04% 4.28% 1.76% Key Highlights Group profit up 25% on strong diversified income growth - ENBD income higher from improving transaction volumes and increased margins DeinzBank income higher from increased lending, wider margins and hedging Lower provisions as 90bp cost of risk for 9M'22 reflects robust operating environment USD 0.3 bn net profit from DenizBank despite USD 0.7 bn hyperinflation adjustment Accelerating investment in international growth and digital Higher NIMS reflect rising interest rates and an improvement in DenizBank margins Strong new lending to retail and corporates helping offset sovereign repayments 26#27Q3-22 results -convenience translation to US$ Highlights Income Liquidity Risk Expenses Capital Divisional Income Statement Better/ Q3-22 Q3-21 Q2-22 All figures are in USD bn (Worse) Better/ (Worse) Net interest income 1.7 1.2 37% 1.4 18% • Non-funded income 0.7 0.4 83% 0.7 (9)% Total income 2.3 1.6 47% 2.1 9% • Operating expenses (0.6) (0.5) (19)% (0.6) (12)% Pre-impairment operating profit 1.7 1.0 62% 1.6 8% Impairment allowances (0.4) (0.3) (25)% (0.1) (199)% Tax and others (0.1) (0.1) (141)% (0.2) 37% Profit after tax and before hyperinflation 1.2 0.7 72% 1.2 (4)% Hyperinflation adjustment (0.1) 0.0 n/m (0.3) 47% Net profit 1.0 0.7 51% 1.0 8% Cost: income ratio 27.4% 34.0% 6.6% 26.7% NIM 3.57% 2.65% 0.92% 3.09% (0.7)% 0.48% ● Key Highlights • Strong Q3-22 with net profit exceeding US$1 bn, an increase of 51% y-o-y on higher income Net interest income up 37% y-o-y on improved loan & deposit mix Higher interest rates feeding through to margins Strong new lending growth Non-funded income up 83% y-o-y from increased transaction activity Increased local and international card transactions Growth in client flow FX & Derivative transaction. income Expenses well controlled in Q3-22 with positive jaws Group accelerating investment in international and digital Q3-22 cost of risk 111 bps within guidance Healthy new lending on continued strong retail and renewed corporate lending demand Group maintains strong Capital and Liquidity with coverage ratio highest amongst regional peers Balance Sheet 30-Sep-22 31-Dec-21 All figures are in USD bn Inc/ (Dec) 30-Jun-22 Inc/ (Dec) Total assets 196 187 5% 194 1% • Loans 114 115 (1)% 116 (1)% Deposits 131 124 5% 127 3% CET-1 (%) 15.5% 15.1% 0.4% 15.0% 0.1% . LCR (%) 152.2% NPL ratio (%) 5.8% 177.6% 6.3% (25.4)% (0.5)% 154.8% (2.6)% 6.1% (0.3)% 27#28Emirates NBD Thank you Investor Relations Emirates NBD Head Office | 4th Floor PO Box 777 | Dubai, UAE [email protected] Tel: +971 4 609 3046 "CREATE OPPORTUNITIES TO PROSPER"