#1Emirates NBD Investor Presentation Q1 2022 June 2022 F"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.#31. Emirates NBD Profile 2. Economic Environment 3. Financial & Operating Performance 4. Divisional Performance#4Emirates NBD is a leading bank in the MENAT Region Key Highlights as of March 2022 *As at 21-Apr-22 AED 694 Bn Total Assets 13 Countries Emirates NBD at a Glance AED 463 Bn Gross Customer Loans 901 Branches AED 469 Bn Total Customer Deposits 17+ million Customers 4th Largest in GCC 56% Government of Dubai Shareholding 2nd Largest in UAE 40% FOL 12.3% foreign owners* -20% Market Share in UAE (Assets, Loans, Deposits) AED 95 Bn Market Capitalization* 4#5Emirates NBD at a glance Emirates NBD's International Presence Market share in the UAE* ➤ Assets 18%; Loans 23%; Deposits 20% ➤ Largest financial institution in Dubai, 4th largest in the GCC ➤ Leading retail banking franchise with a branch network of 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 Moscow 1 London 8 Germany 13 Austria Turkey 694 68 Egypt Short-Term Long-Term Outlook Moody's P-1 A2 Stable Fitch F1 A+ Stable CI A1 A+ Stable *Emirates NBD as at 31-Dec-21 excluding DenizBank Bahrain 7 KSA 107 Mumbai UAE 1 Emirates NBD Emirates NBD Rep. Offices DenizBank Singapore 1 1 Jakarta Beijing 1 5#6Leader in Digital Banking and Innovation liv. Liv. is now over 640,000 customer strong in UAE & KSA, making it the largest digital lifestyle bank in the region. • Liv. has expanded its product offering to add 2 products: • Liv. USD account: Keeping investors in mind, Liv. USD account allows customers to save in USD with attractive interest rates and transfer funds globally to their investment platforms for free. • Liv. Cash: One-click overdraft facility for customers to meet their short-term needs. • Liv. has also 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 first lifestyle-banking subscription plan in the region) and Liv. Sure (General Insurance products) continue to be strong revenue generators for Liv. Key Digital Developments • 90% of all face-to-face card payment transactions now 'contactless' through Mobile wallet • An enhanced tablet banking solution for new credit card sourcing was launched • Launched DEWA IPO portal on Emirates NBD website with real time direct integration with Dubai Financial Market (DFM) • A self-service tablet banking proposition for account opening was rolled out in KSA Transactions via digital channels Eligible Retail Business customers digitally active Eligible Corporate clients opting for digital platform 96% 2021 84% 2021 98% 85% Q1 2022 Q1 2022 91% 2021 91% Q1 2022 60#7ESG Performance - Key Highlights 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 • 4 LEED* GOLD certified branches in the UAE ⚫ First LEED GOLD certified bank branch in Saudi Arabia For more about ESG report, please visit: EmCap raised USD 18.75 bn of sustainable capital from loan and debt capital markets for clients in China, Egypt, India, Russia and UAE Raised first Sustainability-linked loan from a bank from the Gulf region: ➤ KPI 1: Women in Senior Management ➤ KPI 2: Reduction in Water Consumption • ⚫ 6 LEED certified engineers in Procurement & Facility Mgmt Energy efficiency Social Impact ISO 14001:2015 certified for our environmental management system 12% reduction in electricity consumption 22% reduction in water consumption 6% reduction in Greenhouse Gas (GHG) emissions AED • • • 78 nationalities make up diverse workforce of full-time employees 41% of our employees are Women Contributed AED 64m to local community in 2021 902 volunteer deployments via corporate volunteering programme ESG Certification for 130 employees across the UAE, KSA, Singapore, and London 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 *Leadership in Energy and Environmental Design 7#8Stable Shareholder Base and Diversified Business Model Split of ownership - Anchored by the Government of Dubai Ownership structure as at 31 March 2022 Others 39% Capital Assets 5% Balanced asset composition % by segment as at 31 March 2022 CI&B 44% GM&T 20% Investment Corporation of Dubai 56% Key Highlights • • • • • 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 12.3% at 21-Apr-2022 Recommendation Equity Analysts Coverage Buy Hold Sell 13 1 In AED DenizBank 16% Target Price 16.9 RBWM Price at 21-Apr-2022 15.0 10% EPS 31-Mar-2022 0.41 Islamic Banking 10% 8#9Emirates NBD is one of the largest banks in the GCC... Total Assets AED Bn, 31-Mar-2022 Total Loans AED Bn, 31-Mar-2022 * QNB 1,115 QNB بنك أبوظبي الأول FAB First Abu Dhabi Bank 981 SNB 513 SNB 902 مصرف الراجحي 484 Al Rajhi Bank Emirates NBD 694 مصرف الراجحي Al Rajhi Bank 644 بنك أبو ظبي التجاري ADCB 446 Total Deposits AED Bn, 31-Mar-2022 796 QNB بنك أبوظبي الأول FAB 600 First Abu Dhabi Bank Total Income AED Mn, Q1 2022 793 SNB 8,065 QNB 7,533 مصرف الراجحي SNB 592 Al Rajhi Bank க 6,957 Emirates NBD مصرف الراجحي 463 Emirates NBD 497 6,374 Al Rajhi Bank بنك أبوظبي الأول FABT First Abu Dhabi Bank بنك أبوظبي التجاري ADCB 257 بنك أبوظبي الأول 447 Emirates NBD 469 FABT 4,458 First Abu Dhabi Bank بنك أبوظبي التجاري ADCB ينك دبي الإسلامي 262 Dubai Islamic Bank 3,016 9#10...and one of the largest banks in the UAE Total Income AED Mn, Q1 2021 Net Profit AED Mn, Q1 2022 Total Loans AED Bn, Q1 2022 Coverage Ratio & NPLs (%) 31-Mar-2022 NPL% CET-1 Ratio (%) 31-Mar-2022 بنك أبوظبي الأول Emirates NBD 6,374 FABT 463 5,123 Emirates NBD Emirates NBD 128 6.3 Emirates NBD 15.0 First Abu Dhabi Bank بنك أبوظبي الأول FAB First Abu Dhabi Bank بنك دبي الإسلامي Dubai Islamic Bank بنك أبوظبي التجاري ADCB المشرق mashreq مصرف أبوظبي الإسلامي ADIB بنك أبوظبي الأول 4,458 Emirates NBD 2,745 FAB First Abu Dhabi Bank 3,016 بنك أبو ظبي التجاري ADCB بنك دبي الإسلامي 2,936 Dubai Islamic Bank 1,564 1,409 مصرف أبوظبي الإسلامي ADIB المشرق máshreq 1,483 بنك أبوظبي التجاري ADCB 257 447 بنك أبوظبي الأول FAB 98 98 First Abu Dhabi Bank بنك أبو ظبي التجاري ADCB 4.0 بنك دبي التجاري 14.5 Commercial Bank of Dubai 93 93 5.4 بنك أبوظبي التجاري ADCB بنك أبوظبي الأول ينك دبي الإسلامي بنك دبي الإسلامي 1,345 Dubai Islamic Bank 200 Dubai Islamic Bank 72 6.8 FAB First Abu Dhabi Bank 715 。 630 مصرف أبو ظبي الإسلامي ADIB 95 مصرف أبو ظبي الإسلامي ADIB بنك دبي الإسلامي 67 8.9 Dubai Islamic Bank المشرق بنك دبي التجاري 63 7.0 93 mashreq Commercial Bank of Dubai مصرف أبوظبي الإسلامي ADIB 13.0 13.0 12.8 12.7 10#11Consistently profitable due to diversified and resilient business model 9.1% 9.3% 8.8% 10.5% 15.7% 19.7% 18.0% 18.8% 20.3% 16.5% 9.5% 12.8% 15.6% 11.8 Total Income '10-'21 CAGR: 9% Net Profit '10-'21 CAGR: 14% 17.4 15.2 15.4 14.7 14.4 9.7 9.9 10.2 10.0 LL 2.3 8.3 7.1 7.2 5.1 3.3 2.5 2.6 23.8 23.2 22.4 14.5 9.3 7.0 6.4 2.7 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Q1 2022 ■Total Income (AED Bn) ■Net Profit (AED Bn) Return on Average Tangible Equity Excl. NI gain for 2019 11#12UAE economy rebounding with 5.7% growth expected in 2022 8.0 4.0 0.0 -4.0 % y/y UAE GDP Growth 5.7 5.7 3.8 3.4 2.4 1.2 -4.8 -8.0 2017 2018 2019 2020 2021f 2022f 2023f Dubai property prices growth - March 2022 Key Highlights • The UAE economy enjoyed a strong finish to 2021, with Expo 2020 and increased tourism boosting domestic demand 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 45% and apartments up 25% y/y in Q1- 2022 The UAE was a global leader in vaccination and one of the first economies to fully reopen 6 % 4 2 0 -2 UAE's consumer price inflation при سا и 50 % y/y Villas 40 -Apartments 30 20 10 0 -10 -20 -4 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 Mar-15 Dec-15 Sep-16 Jun-17 Mar-18 Dec-18 Sep-19 Jun-20 Mar-21 Dec-21 12#13Dubai: Positioning for future growth Key contributors to Dubai GDP (Jan-Sep 2021) Hospitality 4.3% Other 15.1% ICT 4.3% Trade 25.4% Government 5.0% Construction 6.6% Real Estate Services 9.2% Financial Services 10.8% Manufacturing 9.7% Transport 9.6% Visitors (January-April) In million tourists 7 6 6.26 6.04 6.09 LO 5 4 3 2 1 2017 2018 Source: STR Global, Bloomberg, DTCM, Dubai Statistics % of total Key Highlights • ENBD Research expects Dubai's economy to grow by 4.5% in 2022 • Visitor numbers expected to grow from 7.3 million in 2021, towards 2019 level of 16.7 million • Hotel occupancy and RevPAR expected to continue to improve in 2022 • Dubai rapidly established itself as a leading hub for fintech start-ups in MENA • UAE Net Zero by 2050 strategic initiative provides exciting ESG opportunities Dubai occupancy rates and RevPAR (January-April) 100 200 80 5.1 60 1.68 2019 2021 2022 160 120 40 82.6 86.1 85.0 82.9 80 76.4 60.9 55.5 20 0 2016 2017 2018 Average hotel occupancy rates (LHS) 2019 2020 2021 40 0 2022 USD Average revenue per available room RevPAR (RHS) 13#14Emirates NBD delivers higher profits and maintains strong balance sheet in Q1 2022 Key Highlights AED Strong momentum continues with Q1-22 profit up 18% to AED 2.7bn Key Metrics & Guidance Net Profit AED 2.7bn +18% y-o-y CET 1 15.0% AED AED Improved loan & deposit mix with higher interest rates enabling Group to raise margin guidance Record demand for retail financing and loan growth emerging amongst corporate customers International contributing 37% of diversified income, with DenizBank's profit in dirhams stable y-o-y despite challenging operating environment Diversified balance sheet, strong operating profits and solid capital base remain core strengths of the Group NIM 2.60% 2022 guidance / Revised: 2.55-2.65% / 2.70-2.80% Cost to Income 30.8% 2022 guidance / Revised: Within 35% Within 33% NPL 6.4% 2022 guidance: mid 6% LCR 157.4% Loan Growth 1% 2022 guidance: Low-single digit NPL Cover 128.5% 2022 CoR guidance: 100-125 bps 14#15Financial results highlights Q1 2022 Highlights Income Expenses Risk Capital Liquidity Divisional Strong Q1-22 results with net profit up 18% y-o-y on higher income and lower impairments • Net interest income up 4% y-o-y on improved loan and deposit mix Better/ Better / Income Statement (AED bn) Q1-22 Q1-21 Q4-21 Key Highlights (Worse) (Worse) Net interest income 4.3 4.1 4% 4.3 (2)% • Non-funded income 2.1 2.1 2% 2.2 (3)% Total income 6.4 6.2 3% 6.5 (2)% Operating expenses (2.0) (1.9) (5)% (2.3) 14% Pre-impairment operating profit 4.4 4.3 3% 4.2 4% Impairment allowances (1.4) (1.8) 20% (2.2) 36% Operating profit 3.0 2.5 19% 2.1 45% Taxation charge and others (0.3) (0.2) (24)% (0.1) (378)% Net profit 2.7 2.3 18% 2.0 36% Cost: income ratio (%) 30.8% Net interest margin (%) 2.60% 30.3% (0.5)% 34.8% 2.46% 0.14% 2.59% 4.0% • 0.01% - Initial signs of higher rates feeding through to margins - Record CASA balances improving funding costs • Non-funded income up 2% y-o-y from increased transaction activity - Increased local and international card transactions W Growth in client flow FX & Derivative transaction income Expenses well controlled in Q1-22 with CI ratio within guidance - Higher staff cost y-o-y driving an increase in underlying earnings and future growth Balance Sheet (AED bn) 31-Mar-22 31-Mar-21 Inc/ (Dec) 31-Dec-21 Inc/ (Dec) W Other costs lower due to seasonality from earlier campaigns • Total assets 694.0 695.1 687.4 1% Loans 425.4 436.1 Deposits 469.0 459.1 (2)% 2% 422.3 1% Q1-22 cost of risk of 116 bps lower y-o-y and q-o-q reflecting operating environment improving 456.5 CET-1 (%) LCR (%) NPL ratio (%) 15.0% 157.4% 6.4% 15.6% (0.6)% 15.1% 165.1% (7.7)% 177.6% 6.1% 0.3% 6.3% 3% (0.1)% (20.2)% 0.1% • • 1% Loan growth in Q1-22 El lending up 6%, Retail lending up 4% and DenizBank's net loans up 11% Group maintains strong Capital and Liquidity with coverage ratio highest amongst regional peers 15#16Net interest income 2.47 2017 2.82 2.89 Net Interest Margin (%) Quarterly NIM YTD NIM 2.65 2.65 Highlights Income Expenses Risk Capital Liquidity Divisional • Key Highlights Q1-22 NIM up 14 bps y-o-y on improved loan and deposit mix - - Loan yields up 5 bps on higher retail balances Deposit costs improved 9 bps on higher CASA balances • Q1-22 NIM broadly flat q-o-q with contribution from expected rate rises yet to fully come through 2022 guidance revised up 15bp to 2.70-2.80% incorporating anticipated rate rises Balance sheet very well positioned to benefit from rate rises. 2.46 2.45 2.42 2.59 2.60 2.51 2.60 2.53 2.44 2018 2019 2020 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 - NIM drivers Q1-22 vs Q4-21 (%) 2.59 0.01 0.04 0.42 (0.02) 2.62 (0.02) NIM Drivers Q1-22 vs Q1-21 (%) 2.60 0.09 2.46 0.05 0.38 (0.01) 2.59 0.01 DO 2.17 2.08 2.60 Q4 21 Loan Yield Deposit Treasury ENBD DenizBank Q1 22 Q1 21 Loan Yield Deposit Treasury ENBD DenizBank Q1 22 Cost & Other Ex-Deniz Cost & Other Ex-Deniz 16#17Loans and deposits trends Gross Loans by Type (AED Bn) +1% 472 475 475 459 463 DenizBank 81 79 79 65 65 - EI* 46 46 47 47 50 - 49 52 54 Retail 56 59 - Highlights Income Expenses Risk Capital Liquidity Macro Divisional Key Highlights • Gross loans grew 1% (AED 4bn) in Q1-22 Retail lending up 4% (AED 3bn) with strong demand across all products El Financing and Receivables up 6% (AED 3bn) DenizBank's gross loans up 11% Deposit mix further improved in 2022 with AED 18bn increase in CASA balance - CASA represents 64% of total Group deposits DenizBank's deposits up 11% 296 298 296 291 289 - Corporate Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Deposits by Type (AED Bn) +3% 459 458 467 469 456 DenizBank 80 79 78 70 69 10 8 9 8 10 Other 117 139 130 134 124 Time Gross Loans by Sector (%) Net Loans by Geography (%) Other 3% Agric. 1% Manuf. 5% Trans & Services 9% Trade 7% Construction & Hotels 6% International 19% Sovereign 30% GCC 5% CASA 232 241 246 254 272 FI & Mgmt Cos 7% Personal 22% Real estate 10% Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 * Gross Islamic Financing Net of Deferred Income UAE 76% 17#18Non-funded income Highlights Income Expenses Risk Capital Liquidity Macro Divisional Key Highlights • Q1-22 fee and commission income 14% lower y-o-y mainly from Turkish Lira depreciation, partially offset by higher income from increased retail card business at ENBD Other operating income up 30% y-o-y Mainly due to higher Retail FX volumes and increased derivative business as customers hedged against rising interest rates 75% of FX & Derivative income from ENBD Other operating income lower q-o-q as Q4 includes Dubai Bank gain Non-funded income (AED mn) Q1-22 Q1-21 Better/ (Worse) Q4-21 Better / (Worse) Fee and Commission income 1,527 1,767 (14)% 1,538 (1)% Fee and Commission expense (607) (666) 9% (736) 18% • Net Fee and Commission Income 920 1,101 (16)% 801 15% Other operating income Gain/loss on trading securities Total Non-funded income 1,189 914 30% 1,378 (14)% 10 60 (83)% 13 (21)% 2,118 2,075 2% 2,193 (3)% • Fee and Commission Income (AED mn) -14% 1,767 53 1.605 220 1,565 1,538 1,527 92 81 113 58 Brokerage & AM 227 192 192 198 Trade finance 914 585 1,494 1,286 1,293 1,232 1,271 Fee income Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Other Operating Income (AED mn) 1,378 1,188 921 922 FX & Derivative 379 239 191 174 32 430 199 155 166 -8- -23 28. 217 49. Property & Other Investment Sec. Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 18#19Operating expenses 35.3 Cost to Income Ratio (%) 34.0 33.1 33.5 30.3 32.6 30.8 Q1 21 Q2 21 Q3 21 CI Ratio (YTD) CI Ratio (QTD) Q4 21 Q1 22 Guidance Revised Guidance Operating expenses trends (AED mn) +5% -14% 2,272 1,868 1,896 1,956 1,965 625 Other Cost 425 392 410 441 182 IT & Commun. 147 150 156 150 236 240 239 176 Dep. & Amort. 230 Staff Cost 1,063 1,116 1.157 1,229 1.192 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Highlights Income Expenses Risk Capital Liquidity Divisional Key Highlights Q1 22 cost to income ratio at 30.8% well below guidance reflecting seasonal trend of investment in Q4 to 'hit the ground running' in Q1 • Staff costs increased y-o-y on incentives to drive underlying earnings and hiring for future growth particularly in international network and digital capabilities • Lower Depreciation and amortization reflects reduction in branches in 2020 • Other costs lower q-o-q reflecting higher campaign spend in Q4-21 coupled with lower legal and service fees • Cl ratio guidance revised to ‘within 33%' on higher income from anticipated rate rises Operating expenses composition (%) Breakdown as at Q1-22 Dep. & Amort. 11% Staff 61% Other 11% IT 5% Occupancy 3% Equip. & Supp. 2% Commun. 3% Service & Legal 3% Marketing 1% 19#20Credit quality Impaired loans and allowances 6.1 36.1 28.9 • 6.3 36.4 6.2 37.1 6.3 37.2 6.4 37.9 • 29.7 29.2 29.2 29.5 126.7 127.5 125.1 122.5 128.5 • Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Impaired Loans (AED Bn) * Impairment Allowances (AED Bn) NPL Ratio (%) Coverage ratio (%) Coverage by Stage** Stagewise ECL (AED bn) 37.2 37.9 Stage 1 1.0% 22.2% 0.9% 3.8 3.8 Stage 1 22.0% Stage 2 6.9 7.0 Stage 2 Stage 3 91.1% 92.6% 26.4 27.1 Stage 3 FY-21 Q1 22 FY-21 Q1 22 Highlights Income Expenses Risk Capital Liquidity Divisional Key Highlights NPL ratio increased marginally by 2 bps to 6.4% in Q1-22 Coverage ratio strengthened 1% to 128.5% in Q1-22 。 S3 coverage up to 92.6% on higher provisions during the quarter o S1 and S2 coverage broadly stable 116 bps cost of risk back in middle of guidance range and below 2021 level of 124bp • AED 2.1 bn out of original AED 10.7 bn of deferral support remains outstanding *Includes purchase originated credit impaired loans of AED 1.0bn (Dec-21: AED 1bn) acquired at fair value / **Stage 3 coverage adjusted for POCI acquired at FV Total Gross Loans Q1-22, AED 463bn Stage 1 87% 87% Stage 2 7% FY-21 7% AED 459n 6% Stage 3 6% 20#21Capital adequacy Capital (AED billion) • 82.7 5.1 9.1 67.5 2.7 (1.0) - 68.5 (0.1) (0.6) CET1 31-Dec-21 Profit OCI and Others Interest on AT1 ECL CET1 add-back 31-Mar-22 T1 T2 Capital 31-Mar-22 Risk Weighted Assets (AED billion) Highlights Income Expenses Risk Capital Liquidity Divisional Key Highlights CET-1 ratio marginally lower by 0.1% during 2022 as - AED 2.7bn of retained earnings largely offset AED 1.0bn impact on currency translation reserve and others - AED 0.6bn reduction in ECL addback - 3% increase in RWAS • Capital ratios well above 11% / 12.5% / 14.5% CBUAE min. requirement • ECL add-back phased out by 25% in 2022 • CET-1 at 14.6% excluding ECL regulatory add-back Capital Ratios % 444.3 453.3 451.1 457.9 446.4 19.0 19.2 18.7 18.3 T2% 1.1 1.1 18.1 DenizBank 122.4 121.7 120.4 110.5 113.1 +3% 1.1 1.1 2.3 AT1% 2.0 2.0 1.1 2.1 2.0 Operational Risk 31.3 31.3 31.3 30.8 30.8 9.9 12.9 11.0 9.6 10.4 Market Risk CET1% 15.6 15.6 16.1 15.1 15.0 Credit Risk 280.7 287.4 288.3 295.5 303.6 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 21#22Funding and liquidity Advances to Deposit and Liquidity Coverage Ratio (%) 180 165.1 158.8 157.2 160 ADR % LCR % 100 177.6 157.4 96 140 92 95.0 95.7 94.0 120 92.5 88 90.7 88 100- 84 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Composition of Liabilities and Debt Issued (%) Customer deposits 77% Banks 7% Others 6% Highlights Income Expenses Risk Capital Liquidity Divisional Key Highlights • LCR of 157.4% and ADR of 90.7% demonstrate healthy liquidity • Liquid assets* of AED 67.7 billion cover 11% of total liabilities, 14% of deposits • AED 9.7 bn maturities in remainder of 2022 comfortably within Group's capabilities compared to average issuance of AED 22 bn over last four years Maturity Profile of Debt/ Sukuk Issued AED 64.2bn 19.7 2.9 10.2 9.7 0.4 1.6 7.5 20 9.2 7.9 0.4 0.0 16.8 .0.6 6.4 Debt/Sukuk 8.1 8.8 7.9 6.9 11% 3.4 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 22#23Divisional performance Operating Segment Metrics Q1-22 Income (mn) 2,277 Retail Banking and Wealth Management Expenses (mn) 596 Loans (bn) 56.3 Deposits (bn) 188.5 Income (mn) 1,340 -9% Corporate and Institutional Banking Expenses (mn) 138 Loans (bn) 263.1 Deposits (bn) 160.4 Increase/ (Decrease) Highlights Income Expenses Risk Capital Liquidity Divisional Key Highlights Retail Banking and Wealth Management • Record quarter for cards acquisitions, fee income and balance sheet growth Lending grew AED 2.4bn, whilst CASA increased by a record AED 9.3bn • 16% • 16% Close to 25% market share of UAE debit and credit card spends . 4% 5% 1% -1% 0% • Launched DEWA IPO portal on website with real time direct integration with DFM Introduced Emirates NBD Etihad Guest Credit Cards offerings some of the highest Etihad Guest earning and rewards opportunities in the market Corporate and Institutional Banking • • • Supporting IPOs, with end-to-end IPO subscription website offering real-time on- boarding through a state-of-the-art fully digital platform Profitability boosted by higher fee income and lower impairment allowances CASA balances grew, enabling Group to retire more expensive time deposits Developing strategic partnership with major Government entities and Corporates by digitizing service platforms and leading landmark ESG transactions Emirates Islamic • . . Net profit up 62% y-o-y to AED 342m on higher income and lower provisions Customer financing at AED 45.2 bn, increased 6% in Q1-22 Customer deposits increased 9% in Q1-22 with CASA now 80% of total deposits Global Markets and Treasury >100% • • Net interest income grew 171% y-o-y in Q1-22 due to higher income from balance sheet hedges and an increase in banking book investment income. Non-funded income up 31% y-o-y: 。 Strong quarter from Rates, Credit and FX trading О О Sales & Structuring helped customers lock in favorable borrowing costs & FX rates DenizBank • Net profit of AED 629m stable y-o-y despite 48% depreciation in FX translation COR improved to 294 bps in Q1 Total assets in Turkish Lira grew 11% in Q1-22 Income (mn) 652 Expenses (mn) 281 Emirates Islamic Loans (bn) 45.2 Deposits (bn) 51.3 14% 10% 6% 9% Income (mn) 176 Expenses (mn) 39 -1% Global Markets and Treasury Assets (bn) 135.1 -7% Liabilities (bn) 23.2 0% -11% Income (mn) 1,820 -7% Expenses (mn) 521 DenizBank |1% Loans (bn) 61.7 1% Deposits (bn) 69.8 23#24DenizBank business overview Highlights Income Expenses Risk Capital Liquidity Divisional Better / Income Statement (AED Mn) Q1-22 Q1-21 Q4-21 (Worse) Better/ (Worse) Key Highlights Net interest income 1,226 1,285 (5)% Non-funded income 594 754 (21)% 1,319 823 (7)% (28)% • Net profit of AED 629 million in Q1-22 stable y-o-y despite 48% depreciation in currency translation Total income 1,820 2,039 (11)% 2,142 (15)% • Operating expenses (521) (558) 7% (535) 3% Cost of risk improved to 294 bps in Q1-22 from 343 bps in 2021 Pre-impairment operating profit 1,299 1,481 (12)% 1,607 (19)% • Total assets in Turkish Lira grew 11% in Q1-22 Impairment allowances (487) (659) 26% (1,430) 66% Operating profit 812 822 (1)% 177 358% Taxation charge (183) (180) (2)% (54) 239% Net profit 629 642 (2)% 123 410% Cost: income ratio 28.3% 27.5% Net interest margin 4.66% 4.13% (0.8)% 0.53% 25.0% (3.3)% 4.60% 0.06% Balance Sheet Metrics (AED bn) Assets Net Loans Deposits NPL and AD Ratio (As per local reporting guidelines) NPL Ratio (Unadjusted) AD Ratio (Unadjusted) 108.9 109.8 6.6 6.2 98.8 99.3 68.8 69.8 61.1 61.7 Q4-21 Q1 22 All financial numbers post acquisition (1-Aug-19) include the fair value adjustments, unless otherwise stated. FY-21 Q1 22 FY 21 Q1 22 24#25Emirates NBD Thank you Investor Relations Emirates NBD Head Office | 4th Floor PO Box 777 | Dubai, UAE [email protected] Tel: +971 4 609 3046 F"CREATE OPPORTUNITIES TO PROSPER"