#1New Development Bank Investor Presentation March 2022#2Disclaimer New Development Bank This presentation has been prepared by the New Development Bank (the "Issuer") and it may not be reproduced, retransmitted or further distributed to the press or any other person or published, in whole or in part, for any purpose. Failure to comply with this restriction may constitute a violation of applicable securities laws. This presentation does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Issuer in any jurisdiction or an inducement to enter into investment activity. No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever and is not intended to be legally binding. The information contained herein consists of slides solely for use at the presentation in connection with the proposed offering (the "Offering") of securities described herein (the "Notes") by the Issuer. This presentation and its contents are confidential and may not be reproduced, redistributed, published or passed on to any other person, directly or indirectly, in whole or in part, for any purpose and should not be treated as offering material of any sort. If this presentation has been received in error it must be returned immediately to the Issuer. Any purchase of Notes in the Offering should be made solely on the basis of the information contained in the base prospectus dated December 22, 2020 in final form prepared by the Issuer and any other supplemental prospectus to be published including the supplement to be dated on or around April 13, 2021 (such base prospectus as so supplemented, the "Prospectus"). The information contained in this presentation has not been independently verified. Neither the Issuer nor the managers appointed in relation to the Offering (the "Managers") are each under any obligation to update or keep current the information contained herein. Accordingly, no representation or warranty or undertaking, express or implied, is given by or on behalf of the Issuer, the Managers or any of their respective members, directors, officers, agents or employees or any other person as to, and no reliance should be placed on, the accuracy, completeness or fairness of the information or opinions contained herein. None of the Issuer, the Managers or any of their respective members, directors, officers or employees nor any other person accepts any liability whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation. This presentation is intended only for persons having professional experience in matters relating to investments being relevant persons (as defined below). Solicitations resulting from this presentation will only be responded to if the person concerned is a relevant person. Neither this presentation nor any copy of it may be taken or transmitted into the United States of America, its territories or possessions, or distributed, directly or indirectly, in the United States of America, its territories or possessions. Any failure to comply with this restriction may constitute a violation of U.S. securities laws. This presentation is not an offer of securities for sale in the United States. The Issuer has not registered and does not intend to register any portion of the Offering in the United States or to conduct a public offering of any securities in the United States. The Notes may not be offered or sold in the United States except pursuant to an exemption from, or transaction not subject to, the registration requirements of the United States Securities Act of 1933, as amended. EU MIFID II and UK MiFIR eligible counterparties and professional clients only. No EU PRIIPS or UK PRIIPS key information document ("KID") has been prepared as not available to retail in EEA or the UK. In member states of the EEA, this presentation is directed only at persons who are "qualified investors" within the meaning of Regulation (EU) 2017/1129 (the "EU Prospectus Regulation"). This presentation must not be acted on or relied on in any member state of the EEA by persons who are not qualified investors. Any investment or investment activity to which this presentation relates is available only to qualified investors in any member state of the EEA. In the United Kingdom, this presentation is directed only at persons who are "qualified investors" within the meaning of the Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "UK Prospectus Regulation"). In addition, in the United Kingdom this presentation is addressed to and directed only at qualified investors who (i) are persons who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Order"), (ii) are persons who are high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) are other persons to whom they may otherwise lawfully be communicated (all such persons together being referred to as "relevant persons"). This presentation must not be acted on or relied on in the United Kingdom by persons who are not relevant persons. Any investment or investment activity to which this presentation relates is available only to relevant persons in the United Kingdom. Any securities referenced in this presentation are not being offered to the public in the United Kingdom. Each recipient also represents and agrees that it has complied and will comply with all applicable provisions of the Financial Services Markets Act 2000, as amended, with respect to anything done by it in relation to any securities referenced in this presentation in, from or otherwise involving the United Kingdom. This presentation is not intended for retail investors in member states of the European Economic Area ("EEA"). For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU, as amended ("MiFID II"); or (ii) a customer within the meaning of Directive 2016/97/EU, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II. Consequently no key information document required by Regulation (EU) No 1286/2014 (as amended, the "EU PRIIPS Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the EEA may be unlawful under the EU PRIIPS Regulation. This presentation is not intended for retail investors in the United Kingdom. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018; or (ii) a customer within the meaning of the provisions of Financial Services and Markets Act 2000 and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018. Consequently no key information document required by Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "UK PRIIPS Regulation") for offering or selling the Notes or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the Notes or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPS Regulation. This document is an advertisement for the purposes of the EU Prospectus Regulation. The Prospectus has been prepared and published pursuant to the EU Prospective Regulation, and can be obtained in accordance with the applicable rules. The Managers are acting for the Issuer in connection with the Offering and no one else and will not be responsible to anyone other than the Issuer for providing the protections afforded to their clients or for providing advice in relation to the Offering or any transaction or arrangement referred to in this presentation. © 2021 New Development Bank 2#3Empowering Nations Through Innovation and Sustainability 1. 2. 1 2 3 4 5 3. 4. OVERVIEW CREDIT STRENGTHS LENDING ACTIVITIES ENVIRONMENTAL AND SOCIAL COMMITMENT 5. BORROWING ACTIVITIES 6. FINANCIAL SUMMARY 7. ANNEXURE New Bank Development M O 2021 New Development Bank#41 OVERVIEW O 2021 New Development Bank 4 New Development Bank#5Who We Are NDB is a multilateral development bank established by BRICS¹ countries to mobilise resources for infrastructure and sustainable development projects The membership is open to members of the United Nations Our mission is to support public and private projects through loans, guarantees, equity participation and other financial instruments 1 Brazil, Russia, India, China and South Africa 2 Japan Credit Rating Agency 3 Analytical Credit Rating Agency 會 O • • • • • • HIGH CAPITALISATION High level of initial authorised capital of US$ 100bn with initial subscribed capital of US$ 50bn and paid-in capital of US$ 10bn places NDB amongst the largest MDBs globally Prudent capital management: maximum Capital Utilization ratio at 90% CREDIT STRENGTHS AA+/AA+/AAA/AAA long-term international credit rating from S&P/Fitch/ JCR²/ACRA³ Conservative risk management and financial policies Sound governance structure, led by a highly experienced management team One of the highest ratios of paid-in capital to subscribed capital (20%) and one of the largest commitments amongst all MDBs Weighted average credit rating of projects approved is BB+ INNOVATION AND SUSTAINABILITY Support the development of financial markets in member states, provide financing in both local and hard currencies and apply country systems Sustainability is fundamental to the founding principles of NDB and overlays everything we do EFFICIENCY NDB aims to structure, negotiate, review and approve loans within a period of 6 months without compromising project quality and risk management standards Lean operations, partnership with other development institutions O 2021 New Development Bank New Development Bank 5#6Uniquely Positioned Multilateral Lender BRICS as a key driver of the world economy faces a growing need for investment in infrastructure 31% OF TOTAL GLOBAL GDP Advanced BRICS EMs 57% Economies 31% 43% Other Emerging Markets 26% 5.8% AVERAGE GDP GROWTH 2021-2025 5.8% 4.2% 2.7% Advanced Economies BRICS Other Emerging Markets 42% OF TOTAL GLOBAL POPULATION Average Advanced Economies 4.1% 13% Other Emerging Markets 45% BRICS 42% EMs 87% Note: EMS stands for "Emerging market and developing economies" according to the country classification of the IMF. The shares of global GDP and the contribution to global GDP growth are based on GDP in purchasing power parity (PPP) terms Source: IMF World Economic Outlook 2020 data. Data may include IMF estimates and/or projections New Development Bank O 2021 New Development Bank 6#7Strong Shareholder Support Members Brazil Shareholding 19.42% Russia 19.42% India 19.42% China 19.42% South Africa 19.42% Bangladesh 1.83% United Arab Emirates 1.08% . Egypt Uruguay Prospective member Prospective member Key institution in BRICS cooperative framework Equal capital subscription amongst founding members Full member support for maintaining a very strong financial profile High commitment of founding countries to NDB represents a greater propensity to support the institution in times of distress No member holds veto power Preferential treatment in member countries with extensive immunities, privileges and exemptions Declaration of the Leaders of Brazil, Russia, India, China and South Africa at the 13th BRICS Summit, New Delhi, India on September 9, 2021 "We appreciate the NDB's substantive progress in membership expansion despite challenges emanating from the COVID-19 pandemic. We reiterate that the process of expansion should be gradual and balanced in terms of geographic representation in its membership as well as supportive of the NDB's goals of attaining the highest possible credit rating and institutional development. We note with satisfaction the discussions held at the Annual meeting of the Board of Governors of the New Development Bank and look forward to the Bank's second General Strategy for 2022-26. We recognize the role of New Development Bank as vital to addressing health and economic consequences of the pandemic and encourage the NDB to explore the possibility of financing more social infrastructure projects, including those that use digital technologies." Note: Prospective members listed herein have been admitted by NDB's Board of Governors and will officially become a member country once they deposit their instrument of accession Source: Declaration of the Leaders of Brazil, Russia, India, China and South Africa at the 13th BRICS Summit, New Delhi, India on September 9, 2021 New Development Bank O 2021 New Development Bank 7#8High Commitment of Founding Members. Founding members' commitment to NDB surpasses that to peer MDBs, representing their strategic interest in the institution BRICS COUNTRIES' LARGEST CAPITAL CONTRIBUTIONS TO MDBS 3.9% 20.0% 20.0% 20.0% 29.8% 20.0% 20.0% 11.4% 10.9% 8.4% 6.5% 6.4% 6.5% 4.4% 4.0% 4.0% 3.1% 5.5% 4.0% 5.0% 3.3% 4.2% 2.2% 2.0% 2.4% 1.6% 0.1% 0.8% 0.7% 0.6% NDB IADB IFC IBRD AIIB Brazil NDB AIIB EBRD IFC IBRD Russia NDB AIIB ADB IFC IBRD AIIB NDB ADB IBRD IFC India China NDB AfDB IBRD IFC AIIB South Africa Note: As of August 31, 2021 Average across selected MDBs Preferred creditor status underpins preferential treatment on member countries' obligations to NDB Articles of Agreement 31 (c) To the extent necessary to carry out the purpose and functions of the Bank and subject to the provisions of this Agreement, all property and other assets of the bank shall be exempt from restrictions, regulations, controls and moratoria of any nature. New Development Bank O 2021 New Development Bank 00 8#9Governance Structure I Reporting lines Board of Governors Chairperson: Mr. Kun Liu Board of Directors Interim Chairperson: Mr. Dondo Mogajane Audit, Risk and Compliance Committee Chairperson: Mr. Rajat Kumar Mishra Budget, Human Resources and Compensation Committee Chairperson: Mr. Dondo Mogajane Credit and Investment Committee Finance Committee Treasury Sub-Committee Operations Sub-Committee New Development Bank の O 2021 New Development Bank#10Highly Experienced Management Team President & Board Member Mr. Marcos Troyjo Multi-layered career in government, business and academia. Actively involved in the public debate on economic development Served as Brazil's Deputy Minister of Economy and Special Secretary for Foreign Trade and International Affairs, represented the Brazilian Government in the boards of multilateral development institutions, was Chairman of Brazil's Commission on External Financing and National Investment Committee Co-founded and served as Director of the BRICLab at Columbia University. Lectured extensively at universities and research centers around the world and authored books on development, technology and global affairs Member of the World Economic Forum (WEF) Global Future Council on Responsive Financial Systems Economist and political scientist with a PhD and MSc in sociology of international relations from the University of Sao Paulo. Pursued postdoctoral studies at Columbia University. He is an alumnus of the Rio Branco Institute, the diplomatic academy of Brazil's Ministry of Foreign Affairs VP Chief Financial Officer Mr. Leslie Maasdorp VP Chief Operations Officer Mr. Vladimir Kazbekov VP Chief Risk Officer Mr. Anil Kishora VP Chief Administrative Officer Mr. Qiangwu Zhou 25+ years of public and private sector experience Prior roles as Managing Director and President of Bank of America Merrill Lynch for Southern Africa, Vice Chairman of Barclays Capital and ABSA Capital Served as Special Advisor to the Minister of Labor of South Africa and as Deputy Director General in the Ministry of Public Enterprises Served as International Advisor to Goldman Sachs International Extensive experience in the public sector and in the area of development finance Served in several senior roles in the Russian Ministry of Foreign Affairs and Presidential Executive Office Worked in executive position for the Russian National Development Bank (VEB) for 20 years and greatly contributed to the development of BRICS interbank cooperation mechanism 38+ years of public sector experience at India's largest bank, State Bank of India (SBI) Served as Deputy Managing Director & CRO of SBI, was Deputy Managing Director & Chief General Manager of SBI Local Head Office in Chandigarh, India and CEO of SBI in Singapore Was a Council Member of Association of Banks in Singapore, a board member of IACPM, New York, Macquarie SBI Infrastructure Management Pte. Ltd. and Macquarie SBI Infrastructure Trustee Ltd. Extensive experience in the public sector Served as Director General level official in the Ministry of Finance of China, while holding the positions of International Development Association (IDA) Deputy, and GEF Council member for China Worked in the UN's Administrative and Budgetary Committee, representing the Government of China and served as Advisor and then Senior Advisor to the Executive Director for China in the World Bank Group New Development Bank © 2021 New Development Bank 10#11Key Milestones ● AA+/AA+/AAA/AAA international credit ratings received from S&P/Fitch/JCR /ACRA, AAA China domestic ratings received from two leading Chinese rating agencies, China Chengxin Credit Rating Co., Ltd. and China Lianhe Credit Rating Co., Ltd. • ⚫ RMB Green Bond issued in China in July 2016 ZAR Bond Programme registered in South Africa in April 2019 ECP Programme established in April 2019 and the 1st offering placed in May 2019 RUB Bond Programme registered in Russia in November 2019 • EMTN Bond Programme established in December 2019 and the 1st offering placed in June 2020 Partnerships established with key global and national institutions, including EBRD, EIB, AIIB, EDB, IIB, CAF, the World Bank Group, ADB, etc. CORE DOCUMENTS RATINGS PROJECTS BORROWINGS / CAPITAL STRATEGY PARTNERSHIPS EXPANSION • . Agreement on the NDB signed in Fortaleza in July 2014 and entered into force in July 2015 Headquarters Agreement with China and the MoU with the Shanghai Municipal People's Government signed in February 2016 Key governance, operational and risk policies and procedures established covering all functional areas . 77 investment projects in all member countries for a total approved amount of US$ 29.7bn¹ Project Preparation Fund contribution agreements signed with Russia, India and China 1 As of December 31, 2021. List of all approved investment projects is available at: https://www.ndb.int/projects/list-of-all-projects/ ⚫ General Strategy for 2017-2021 approved • Africa Regional Center launched in Johannesburg, South Africa in August 2017 • Americas Regional Office established in Sao Paulo, Brazil in November 2019 ⚫ Eurasian Regional Center opened in • Moscow, Russia in October 2020 Bangladesh, United Arab Emirates, Egypt and Uruguay admitted as new members in 2021 New Development Bank © 2021 New Development Bank 11#122 Credit Strengths © 2021 New Development Bank 12 New Development Bank#13New Development Bank Highly Capitalised Institution. Policies and key risk limits are in line with AAA rated MDBs Conservative capitalisation ratio: minimum Equity-to-Asset Ratio at 25% Highly-liquid balance sheet: minimum Primary Liquidity Ratio at 100%. Liquid assets to cover minimum 12-month net cash outflow without accessing capital markets Prudent capital management: maximum Capital Utilization Ratio at 90% Risk Adjusted Capital ASSETS LIABILITIES AND EQUITY As of June 30, 2021 ✓ 43% ✓ 136% ✓ 11.62% ✓ 27.7% Investments 11,366.0 Paid-in Loans 10,112.0 Capital Receivables 1,208.0 Other Assets 41.0 Total Borrowings 12,209.0 Total Equity 10,390.0 Other Liabilities 128.0 Source: NDB IFRS Financial Statements as of June 30, 2021 1 Numbers are presented in US$ mn. Balance sheet total is US$ 22,727mn 2 Investments, including cash and cash equivalents (US$ 5,223mn), due from banks other than cash and cash equivalents (US$ 3,923mn), financial assets held under resale agreements (US$ 77mn), financial assets at FVTPL (US$ 510mn), debt instruments at FVTOCI (US$ 155mn) and debt instruments measured at amortised cost (US$ 1,478mn) 3 Total equity, including equity (US$ 10,000mn), retained earnings (US$ 399mn) minus reserves (US$ 9mn) 4 Total borrowings, including financial liabilities designated at FVTPL (US$ 7,848mn), note payables (US$ 4,361mn) © 2021 New Development Bank 13#14Exposures Related to Russia In light of unfolding uncertainties and restrictions, NDB has put new transactions in Russia on hold. The Bank's operations are guided by its Articles of Agreement as well as the governance framework put in place by its Board of Directors. The Bank has implemented prudent risk management policies and procedures, which are aligned to the practices of other global multilateral development banks. NDB has a total outstanding exposure of USD 1.8 billion to Russian-domiciled entities as of February 28, 2022. Of this, USD 1.3 billion is either to the sovereign or backed by a sovereign guarantee, the balance USD 0.5 billion is to a non-sovereign client. In total, exposure to Russian-domiciled entities represents less than 8% of the Bank's total assets. These exposures are 53% denominated in EUR, 30% in CHF and 17% in USD. For financial year ended December 31, 2021, the Bank earned around 4% of the total interest income from its Russian loan portfolio. In addition to the above NDB has an outstanding exposure of USD 0.2 billion to international multilateral organizations which have exposures to Russia. LOAN EXPOSURE BY JURISDICTION India China 28% 25% Russia 13% South Africa Brazil 21% Supranational 2% 11% RUSSIAN-DOMICILED LOAN EXPOSURE BY CURRENCY USD 17% CHF 30% EUR 54% © 2021 New Development Bank New Development Bank 14#15Exposures Related to Russia NDB expects to receive all interest and principal re-payments as they become due from its Russian-domiciled borrowers. The Bank's accounts are prepared in accordance with International Financial Reporting Standards. The exposures continue to be monitored and expected credit losses are being assessed accordingly. NDB is in a strong financial position in terms of both solvency and liquidity. All the shareholders remain fully committed and supportive to the Bank. NDB's equity to asset ratio as of February 28, 2022 is 42%, well above the Board approved limit of 25%. Similarly, the Bank's primary liquidity ratio (PLR), which considers a 1-year horizon, is 137% as of February 28, 2022, as compared to the Board set limit of 100%. This implies that NDB has sufficient liquid assets to meet all its obligations including loan disbursements over a period of more than 1 year without the need to raise additional funds from capital markets. The weighted average credit rating of NDB's loan portfolio is BB+ as of March 15, 2022. NDB is actively monitoring the rapidly developing situation and continually assessing the impact of the changing regulatory and credit environment on the Bank's operations. The Bank will do its utmost to maintain a strong financial position in line with its peers and conduct its business in full conformity with the highest compliance standards as an international financial institution. © 2021 New Development Bank New Development Bank 15#16Credit Ratings Rating Agency Long-Term Short-Term Outlook Rating Drivers International Credit Ratings Robust capitalisation endowed with large subscribed and paid- in capital S&P Global Ratings AA+ A-1+ Stable Ample liquidity Fitch Ratings AA+ F1+ Negative Japan Credit Rating Agency AAA Stable Strong access to capital markets for funding needs Extraordinary shareholders' support and commitment Systemic importance to founding members Analytical Credit Rating Agency AAA Stable Sound and prudent risk management, reflected in the bank's self-imposed prudential rules Domestic Credit Ratings China Chengxin International Credit Rating AAA Stable • China Lianhe Credit Rating AAA Stable Very strong level of aggregated expertise and seniority of the bank's management team Significant growth potential, robust demand for financing of infrastructure and sustainable development projects in member countries Analytical Credit Rating Agency AAA(RU) Stable • Strong preferred creditor status Note: S&P ratings affirmed on February 26, 2021. Fitch ratings affirmed on March 17, 2022, outlook negative. JCR rating affirmed on September 18, 2020. ACRA ratings affirmed on November 23, 2021. China Chengxin rating affirmed on July 30, 2021. China Lianhe rating affirmed on July 28, 2021 © 2021 New Development Bank New Development Bank 16#17Benchmarking with Peers. Low leverage Liquidity metrics in line or better than of AAA rated MDBs Very high asset quality: Weighted average credit rating of projects approved is BB+ NDB AIIB ADB AfDB EBRD EIB IADB IBRD IFC New Development Bank Credit Rating AA+ AAA AAA AAA AAA AAA AAA AAA AAA Total Assets (US$ billion) $19 $32 $272 $51 $85 $678 $152 $297 $96 Total Purpose Related Exposure (US$ billion) $7 $8 $133 $34 $41 $552 $106 $211 $47 Liquidity (%)¹ 61% 73% 18% 32% 45% 19% 26% 29% 48% 17 12-month liquidity coverage ratio (x)² 1.2x 5.2x 1.3x 1.3x 1.9x 1.1x 1.6x 1.1x 1.6x Leverage (%)³ 49% 37% 47% 71% 67% 79% 73% 82% 58% 2 12-month liquidity coverage ratio (net derivative payables) Source: S&P Global Ratings "Supranationals Special Edition October 2021" 1 Liquidity liquid assets / adjusted total assets 3 Leverage = gross debt / adjusted total assets © 2021 New Development Bank#183 LENDING ACTIVITIES O 2021 New Development Bank 18 New Development Bank#19Rigorous Project Appraisal NDB aims to structure, negotiate, review and approve loans within a period of 6 months without compromising project quality and risk management standards MONTH 10 O- MONTH 6 New Development Bank Project identification Project concept preparation Project design and appraisal Post-appraisal internal review process Loan negotiations Project approval Project implementation, disbursement and monitoring 19 Environmental, social and developmental analysis Thorough screening and approval requirements Credit risk analysis and appraisal Screening/review from legal perspective Compliance, environmental, anti-money laundering and counter terrorism management checks © 2021 New Development Bank#20Support for Infrastructure and Sustainable Development Development of sustainable infrastructure, being one of the key priorities for emerging economies in the coming decades, is the core focus of NDB's operations NDB Board of Directors approved 77 projects in all member countries for a total amount of US$ 29.7bn 77% of the total amount of approved projects are denominated in hard currencies (US$ 67%, EUR 8%, CHF 2%), 23% in local currencies of member countries (CNY 18%, ZAR 4%, INR 0.3%) BY COUNTRY BY OPERATION AREA BY TYPE Environmental Efficiency 4% Russia 16% Brazil 17% Digital Infrastructure Urban Development Clean Energy 13% 13% Irrigation, Water Resource Management South Africa 18% and Sanitation 1% 7% Sovereign/ Sovereign- Emergency Assistance Guaranteed 31% Social Infrastructure 87% China 25% India 24% Transport 3% Multiple Infrastructure Areas 23% 5% 1 Loans are classified by total loan notional, in approximate US$ terms. Figures may not tally due to rounding differences 2 As of March 18, 2022. Weighted average credit rating of projects approved is BB+. List of all approved investment projects is available at: https://www.ndb.int/projects/list-of-all-projects/ National Financial Intermediary 3% International Organisations 2% Equity Investment 1% Non- Sovereign 7% New Development Bank © 2021 New Development Bank 20#21Providing Emergency Funding During the COVID-19 Outbreak NDB disbursed more than US$ 8bn in crisis-related assistance, including for health and social safety expenditures, as well as supporting member states' economic recovery • NDB has committed to providing up to US$ 10 billion for the crisis- related Emergency Assistance Facility . US$ 5 billion for member countries' most urgent needs, including health-related current expenditures and social safety nets New Development Bank . • US$ 5 billion to 21 support economic recovery 1 As of December 31, 2021. NDB Board of Directors approved 9 projects in all member countries for a total amount of more than US$ 9bn under Emergency Assistance Facility 2 NDB COVID-19 Emergency Program is available at: https://www.ndb.int/covid-19-response-programme/ © 2021 New Development Bank#22Select Projects that are Making Difference to People's Lives TRANSPORT INFRASTRUCTURE DIGITAL TECHNOLOGY IMPROVING CONNECTIVITY CLEANER ENERGY SUSTAINABLE POWER GENERATION North region transportation infrastructure improvement project Brazil US$ 300mn Double-tracking and remodeling of the Carajas Railway and the expansion of the Ponta da Madeira Port Terminal Judicial system support project (JSSP) Madhya Pradesh major district roads | Putian Pinghai Bay offshore wind power Russia US$ 460mn Implementation of a set of innovative technology solutions incorporating digital workplace and digital justice India US$ 350mn Construction works have rebuilt or upgraded about 1,215 km of road length, benefiting 917 villages China CNY 2bn Project entails the generation of 873mn kWh of electricity avoiding the emission of 870,000 tonnes of CO₂ per year Renewable energy integration and transmission augmentation project South Africa US$ 180mn Project will add 1,000 MVA transmission transformer capacity and 352.5 km transmission lines INDUSTRY NATION AND INFRASTRUCTURE 16 AND STRONG PEACE, JUSTICE INSTITUTIONS Note: List of all approved investment projects is available at: https://www.ndb.int/projects/list-of-all-projects/ 9 INDUSTRY INNOVATION AND INFRASTRUCTURE GOOD HEALTH AND WELL-BEING W AFFORDABLE AND CLEAN ENERGY 13 ACTION AFFORDABILE AND CLEAN ENERGY 13 CLINATE ACTION New Development Bank 22 O 2021 New Development Bank#234 ENVIRONMENTAL AND SOCIAL COMMITMENT O 2021 New Development Bank 23 New Development Bank#24O O Key Elements of NDB's Environmental and Social Framework Sustainability is fundamental to the founding principles of NDB and overlays everything we do O Environmental and Social Framework • Ensures environmental and social soundness and sustainability of operations and support the integration of environmental and social considerations into the operation decision-making process . Manages environmental and social risks and impacts of projects Environmental and Social Policy · Environmental and Social Exclusion List Environmental and Social Standards Environmental and Social Guideline . Manages operational and reputational risks of NDB and its stakeholders. Mainstreams environmental and social considerations into decision-making processes of all parties ⚫ Encourages the international good environmental and social practices in its operations and in doing so strengthen the country systems ⚫ Guides NDB operations and sets the requirements to the borrowers to implement projects in environmentally and socially sustainable manner Sustainable Financing Policy Framework Describes NDB's principles in governing the use and management of the proceeds of green, social and sustainability bonds and other debt instruments © 2021 New Development Bank 24 New Development Bank#25Environmental and Social Framework Underpins NDB's Operations New Development Bank ENVIRONMENTAL AND SOCIAL POLICY REQUIREMENTS · Screening and Categorization Environmental and Social Assessment and Management Plans Public Consultation CORE PRINCIPLES Environmental and Social Interests Inclusive and Sustainable Development • Transparency and Information Disclosure · Monitoring and Reporting Climate Change ESF . ⚫ Grievance Redressal Mechanisms ENVIRONMENTAL AND SOCIAL STANDARDS • ⚫ Environmental and Social Assessment • Involuntary Resettlement • Indigenous Peoples Conservation of Natural Resources Gender Equality Country Systems Precautionary Approach Co-operative Functioning and Knowledge Dissemination 25 © 2021 New Development Bank#26Expected Development Impact of NDB's Operations Our financing aims to deliver transformative impact to help member countries achieve development aspirations aligned with the 2030 Agenda for Sustainable Development and the Paris Agreement on Climate Change Development Indicators Schools to be built or upgraded Sewage treatment capacity to be increased Drinking water supply capacity to be increased Water tunnel/canal infrastructure to be built or upgraded Renewable and clean energy generation capacity to be installed Roads to be built or upgraded Bridges to be built or upgraded Urban rail transit networks to be built Cities to benefit from NDB's urban development projects CO2 emissions to be avoided Expected Outcome 58 535,000 m3/day 159,000 m³/day 1,300 km 2,800 MW 15,300 km 820 230 km SDG Alignment QUALITY EDUCATION Quality education CLEAN WATER 6 AND SANITATION 6 CLEAN WATER AND SANITATION 9 6 CLEAN WATER AND SANITATION D AFFORDABLE AND CLEAN ENERGY NDUSTRY, INNOVATION AND INFRASTRUCTURE INDUSTRY, INNOVATION ANDINFRASTRUCTURE 11 SUSTAINABLE CITIES AND COMMUNITIES 11 SUSTAINABLE CITIES AND COMMUNITIES Clean water and sanitation Clean water and sanitation Clean water and sanitation Affordable and clean energy Industry, innovation and infrastructure Industry, innovation and infrastructure Sustainable cities and communities Sustainable cities and communities 40 13 CLINATE ACTION 5.5 million tons/year Climate action Note: Expected development results are presented for projects that NDB financed in collaboration with partners, irrespective of the share of the Bank's financial contribution. The numbers are rounded and are based on the information available at the time of approval Source: NDB Annual Report 2020 is available at: https://www.ndb.int/annual-report-2020/ © 2021 New Development Bank 26 New Development Bank#27Alignment of NDB's Operations with the SDGS NDB has developed and tested an evidence-based method to monitor and report the alignment of the Bank's financing with the SDGs NDB's project portfolio contributes to 12 out of the 17 SDGS Primary SDG Alignment Number of Cumulative Approvals Projects Share of Total Direct Contribution to Additional SDGs (US$ million) Approvals (%) DHAI 1 3 No poverty 2 2,000 8.09 2 H Zero hunger 1 345 1.40 Good health and well-being Clean water and sanitation 3 11 STABLECE NEWELL Good health and well-being 2 2,070 8.37 Sustainable cities and communities 4 EDUCATION Quality education 2 550 2.22 A Decent work and economic growth, Sustainable cities and communities BAN 3 AND SAMATION Clean water and sanitation 6 1,546 6.25 INISTRACT 13 AEDUCTION Affordable and clean energy 14 3,496 14.13 CLEARWATER Decent work and economic growth 2 2,000 8.09 7 3NE DODHEALT CLEAN ANTER 19 12 CONSUMPTION 13 ANE PRODUCTION Industry, innovation and infrastructure 24 8,301 33.56 11 TABLETRES CLEANMAR WEST 13 NO MISTRECT Sustainable cities and communities 13 3,466 14.01 P D0D0DHMTH W❤ NO COMMENTIES AN 1112 12 CONSUMPTION Good health and well-being, Sustainable cities and communities, Climate action Industry, innovation and infrastructure, Sustainable cities and communities, Responsible consumption and production, Climate action Clean water and sanitation, Industry, innovation and infrastructure Q Good health and well-being, Clean water and sanitation, Affordable and clean energy, Sustainable cities and communities, Responsible consumption and production, Climate action Clean water and sanitation, Decent work and economic growth, Industry, innovation and infrastructure, Climate action 13 Climate action 1 500 2.02 16 AMSTRING BSTITUTIONS Peace and justice strong institutions 1 460 1.86 Source: NDB Annual Report 2020 is available at: https://www.ndb.int/annual-report-2020/ New Development Bank 27 O 2021 New Development Bank#285 BORROWING ACTIVITIES O 2021 New Development Bank 28 New Development Bank#29Funding Strategy 2022 approved borrowing programme is US$ 7bn Diversification of funding by instrument currency, tenor and type of interest rate Access to international capital markets A USD Benchmarks 73% OUTSTANDING BORROWINGS CNY Benchmarks 25% USD HKD 25% 57% GBP Private Placements 2% 18% Domestic borrowing programmes in BRICS Established Borrowing Programmes Size International Regular issuances Benchmark size transactions Focus on green, social and sustainability debt instruments EMTN Programme (Reg S) US$ 50bn ECP Programme US$ 8bn Domestic RUB bond Programme CNY bond Programme ZAR bond Programme RUB 100bn (~US$ 1.3bn) CNY 20bn (US$ 3.1bn) ZAR 10bn (~US$ 0.6bn) 1 Outstanding issuance amount under EMTN programme (Reg S) is US$ 8.0bn 2 Outstanding issuance amount under ECP programme is US$ 3.3bn 3 Outstanding issuance amount under CNY bond programmes is CNY 17bn (~US$ 2.7bn) New Development Bank 29 © 2021 New Development Bank#30NDB in International and Domestic Markets Established Borrowing Established Size Validity of the Lead- Tenor of Bonds/Papers Listing Governing Law Managers/Arr Dealers Programmes Programme angers International EMTN Programme (Reg S) December 2019 US$ 50bn Unlimited No restriction Euronext Dublin-Irish Stock Exchange (ISE) English law HSBC ECP Programme April 2019 US$ 8bn Unlimited 364 days English law Citigroup, Barclays, Goldman Sachs, Citigroup JPMorgan, BRED Banque Populaire Domestic Moscow RUB bond Programme November 2019 RUB 100bn (~US$ 1.3bn) Unlimited Up to 20 years Exchange (MOEX) Laws of Russia Rosbank CNY bond Programme ZAR bond Programme¹ China Interbank October 2020 CNY 20bn (~US$ 3.1bn) October 2022 No restriction Bond Market (CIBM) Laws of China April 2019 ZAR 10bn (~US$ 0.6bn) Unlimited No restriction Johannesburg Stock Exchange (JSE) 1 JSE debt sponsor is Standard Bank of South Africa Laws of South Africa Gazprombank, (SocGen Group) ABC, BOC, BOCOM, CCB, CICC, CITIC, CACIB, DB, DBS, HSBC, ICBC, SCB Standard Bank of South Africa, Absa Bank (co- arranger) Absa Bank, Nedbank, First Rand Bank, Standard Bank of South Africa New Development Bank 30 © 2021 New Development Bank#31NDB Outstanding Benchmark Bonds New Development Bank ISIN Size Coupon Placement Maturity Issue Spread International XS2192077514 US$ 1.5bn 0.625% XS2366704497 US$ 2.25bn 0.625% XS2417101149 US$ 0.5bn SOFR +0.28% XS2237442574 US$ 2.0bn 0.625% XS2336053959 US$ 1.5bn 1.125% June 16th, 2020 July 15th, 2021 December 1st, 2021 September 22nd, 2020 April 20th, 2021 June 23rd, 2023 July 22nd, 2024 December 9th, 2024 September 29th, 2025 April 27th, 2026 Mid Swaps +38bps | UST +43bps Mid Swaps +14bps | UST +24bps Mid Swaps +37bps | UST +43bps Mid Swaps +25bps | UST +34bps Domestic CND10001YCH8 CNY 2.0bn 3.00% February 26th, 2019 CND100031KN4 CNY 5.0bn 2.43% April 3rd, 2020 CND10001YCJ4 CNY 1.0bn 3.32% February 26th, 2019 CND100045KJ2 CNY 5.0bn 3.22% March 25th, 2021 CND10003F6W9 CNY 2.0bn 3.00% July 7th 2020 February 26th, 2022 April 3rd, 2023 February 26th, 2024 March 25th, 2024 July 7th, 2025 CND10004M461 CNY 2.0bn 3.02% September 17th, 2021 September 17th, 2026 CDB +0bps | CGB +31bps CDB +0bps | CGB +42bps CDB-2bps | CGB +40bps CDB +0bps | CGB +31bps CDB +1bps | CGB +39bps CDB +1 bps | CGB +28bps 31 © 2021 New Development Bank Note: As of December 31, 2021#32Case Study: US$ 0.5bn, SOFR FRN, December 2024 Bond Highlights Format Size Pricing Settlement Maturity Coupon DISTRIBUTION BY REGION EMEA Americas 34% RegS (Registered Form) US$ 0.5bn December 1st, 2021 28% December 9th, 2021 (T+6) December 9th, 2024 SOFR 0.28% BARC, CITI, DB, GSI, TD Asia 38% Joint Lead Managers Priced US$ 0.5bn at SOFR + 0.28% NDB's debut benchmark US$ SOFR FRN transaction · Books reached in excess of US$ 0.65bn with over 20 orders • Price tightened by 2bps over the bookbuilding process High quality and well diversified book, dominated by central banks and official institutions (47%) and banks/private banks (38%) Transactions demonstrates the continued growth of NDB's investor base, issuer's transition from Libor to SOFR and ads another funding tool to NDB DISTRIBUTION BY INVESTOR TYPE Banks/Private Banks 38% New Development Bank Funds 32 14% Other CB/OI 1% Net proceeds from the Bond will be used for financing sustainable development activities and providing COVID-19 Emergency Support Loans to the member countries 47% © 2021 New Development Bank#33Case Study: US$ 1.5bn, 1.125%, April 2026 Bond Highlights Format Size Pricing Settlement Maturity Coupon Issue Spread Joint Lead Managers RegS (Registered Form) US$ 1.5bn April 20th, 2021 April 27th, 2021 (T+5) April 27th, 2026 1.125% Mid Swaps + 25bps | UST + 34bps CITI, HSBC, ICBC, JPM, SCB, TD . . • Priced US$ 1.5bn at mid swaps +25bps (UST +33.95bps) NDB's first benchmark US$ transaction in 2021 Books reached more than US$ 1.975bn with over 50 orders Price tightened by 2bps over the bookbuilding process High quality book, anchored by central banks and official institutions (78%) Transactions demonstrates NDB's appeal to a diverse group of investors seeking high quality instrument alongside sustainable investment Net proceeds will be used for financing sustainable development activities as well as COVID-19 Emergency Program Loans to NDB's member countries DISTRIBUTION BY REGION EMEA 60% Asia 36% Americas 4% DISTRIBUTION BY INVESTOR TYPE Banks/Private Banks 17% CB/OI 78% Asset Managers Other 1% 4% New Development Bank 33 © 2021 New Development Bank#34Case Study: CNY 5bn, 3.22%, March 2024 SDG Bond • SDG Impact DISTRIBUTION BY REGION Highlights Instrument Listing Pricing Settlement Joint Lead Underwriters Tenor Maturity Size¹ Coupon Senior Unsecured China Interbank Bond Market March 23-24th, 2021 March 25th, 2021 BOC, ICBC, ABC, BOCOM, DB, DBS, CITIC 3-year March 25th, 2024 ' CNY 5bn (US$ 750mn) 3.22% China Mainland 51% Priced CNY 5bn at the tighter end of price guidance (3.22%) NDB's first transaction under CNY 20bn bond programme in 2021 Books was in excess of CNY 10bn, more than 2 times oversubscribed EMEA Americas 15% 7% APAC (excl. China Mainland) DISTRIBUTION BY INVESTOR TYPE First issuer to use the UNDP Sustainable Development Goals Impact Standards for Bonds (UNDP SDG Standard) and the SDG Finance Taxonomy (China) Transaction garnered notable demand from a geographically diverse investor base Net proceeds will be utilized to finance CNY 7bn Emergency Program Loan to China for Supporting Economic Recovery from COVID-19 Note: At the exchange rate at the time of issuance Banks 27% New Development Bank Other 1% 34 90% CB/OI 9% O 2021 New Development Bank#359 FINANCIAL SUMMARY O 2021 New Development Bank 35 New Development Bank#36Equity Liabilities Assets Key Financial Metrics Statement of Profit or Loss (US$ mn) Net interest income Net Fee income¹ Net gains/(losses) on financial instruments at FVTPL Staff costs and other operating expenses² 4.0 Jan 1, 2021-Jun 30, 2021 72.0 Jan 1, 2020-Dec 31, 2020 181.0 Jan 1, 2019-Dec 31, 2019 197.7 Jan 1, 2018-Dec 31, 2018 109.8 5.0 1.6 0.4 (16.0) (191.0) 21.9 7.8 (37.0) (64.0) (51.3) (37.2) Impairment losses³ 9.0 (38.0) (2.1) (3.8) Foreign exchange gains/(losses) 8.0 208.0 (17.4) (5.0) Operating profit 40.0 101.0 150.5 72.0 Unwinding of interest on paid-in capital receivables 12.0 49.0 72.4 93.8 Total comprehensive income 51.0 151.0 222.9 Statement of Financial Position (US$ Mn) As at Jun 30, 2021 As at Dec 31, 2020 Cash and cash equivalents Due from banks other than cash and cash equivalents 5,223.0 2,193.0 3,923.0 6,762.0 Derivative financial assets 36.0 27.0 1,023.5 5,494.8 5.4 Financial assets held under resale agreements 77.0 66.0 Financial assets at FVTPL 510.0 400.0 Debt instruments at FVTOCI 155.0 131.0 Debt instruments measured at amortised cost 1,478.0 763.0 33.8 Loans and advances 10,112.0 6,612.0 Paid-in capital receivables Other assets4 1,208.0 1,885.0 1,544.9 3,713.5 628.1 4,846.8 5.0 5.0 4.6 3.3 Total assets Derivative financial liabilities 22,727.0 18,844.0 11,820.6 10,402.4 75.0 98.0 12.2 6.4 Financial liabilities designated at FVTPL 7,848.0 5,556.0 882.8 443.8 Borrowings Note payables Other liabilities5 Total liabilities Paid-in capital Reserves Retained earnings 110.1 4,361.0 2,815.0 623.3 53.0 42.0 21.0 7.4 12,337.0 8,511.0 1,649.2 457.6 10,000.0 10,000.0 10,000.0 (9.0) (26.0) (86.5) 10,000.0 (162.4) 399.0 359.0 257.8 Total equity Total equity and liabilities 10,390.0 22,727.0 10,333.0 10,171.3 18,844.0 11,820.6 107.3 9,944.9 10,402.4 As at Dec 31, 2019 165.9 As at Dec 31, 2018 123.0 4,800.6 0.7 Strong NII driven by capital contributions received from the members In keeping to NDB's operating principles as a lean organisation, administrative expenses are expected to be kept low Credit exposures arising from investments due from banks are rated at senior investment grade Credit exposures arising from financial assets at FVTPL are rated AAA Financial liabilities relate to NDB bonds Note payables relate to NDB ECPs Total capital contributions received and paid-in capital receivables due Difference between the present value and the nominal value of outstanding paid-in capital Source: NDB Audited IFRS Financial Statements: https://www.ndb.int/data-and-documents/financial-statements/financial- statements-ndb/ Note: Figures may not tally due to rounding differences Net fee income, including other operating income 2 Staff costs and other operating expenses, including other income and other expense 3 Impairment losses under expected credit loss model, net of reversal 4 Other assets, including property and equipment, intangible assets and right-of-use assets 5 Other liabilities, including contract liabilities and lease liabilities O 2021 New Development Bank 36 New Development Bank#377 ANNEXURE O 2021 New Development Bank 37 New Development Bank#38Response to COVID-19 NDB targets to provide up to US$ 10bn in crisis-related assistance, including for health and social safety expenditures, as well as supporting member states' economic recovery New Development Bank April 2, 2021 Brazil Russia India China South Africa Board Approval Date July 20, 2020 December 7, 2020 March 25, 2021 April 30, 2020 December 11, 2020 Project Amount US$ 1bn US$ 1bn US$ 1bn US$ 1bn US$ 1bn March 19, 2020 CNY 7bn (~US$ 1bn) February 26, 2021 CNY 7bn (~US$ 1.1bn) June 19, 2020 Implementation Ministry of Agency Citizenship Objective Support the Government of Brazil to strengthen social safety nets and to address immediate socio-economic impacts arising from the COVID- 19 outbreak, particularly on the most vulnerable population, who have been heavily impacted Brazilian Development Bank (BNDES) Improve SMEs' access to credit by providing guarantees to help them Ministry of Finance Support of frontline health workers, including doctors, nurses and junior medical staff, who provide medical care for the Ministry of Finance Support the Government of India in its efforts to contain the overcome any temporary liquidity diagnosis and treatment of spread of COVID-19 COVID-19 and reduce human, social and economic losses problem, ensure the continuity of their operations, and strengthen their financial sustainability, thereby preventing significant loss of jobs Support economic recovery through natural resource management works to facilitate economic activity and rural employment generation to stimulate rural demand Hubei, Guangdong and Henan Provincial Governments Provide an emergency assistance to China in combating the outbreak of COVID-19, through fiscal support to key stakeholders, at the national level, the provincial levels of the 3 provinces and the municipal levels within the provinces Export-Import Bank of China and Agricultural Development Bank of China Support projects in the sectors directly hit by the COVID-19 pandemic such as trade, logistics, agriculture, health, labor intensive infrastructure sectors, as well as innovative and high-tech infrastructure US$ 1bn National Department of Health and Department of Social Development Assist the Government of South Africa in its efforts to combat the outbreak of COVID-19, minimize the loss of human life, and reduce social and economic losses US$ 1bn Government of South Africa Contribute to creating and supporting employment opportunities in public sector and to helping temporarily jobless population remain in the labor market Note: As of December 31, 2021. NDB COVID-19 Emergency Program is available at: https://www.ndb.int/covid-19-response-programme/ O 2021 New Development Bank 38#39Useful Links Core Documents https://www.ndb.int/data-and-documents/ndb-core-documents/ Investor Marketing Materials https://www.ndb.int/investor-relations/for-investors/ Credit Ratings https://www.ndb.int/investor-relations/credit-ratings/ Financial Statements https://www.ndb.int/data-and-documents/financial-statements/financial-statements-ndb/ Annual Reports https://www.ndb.int/data-and-documents/annual-reports/ Environment and Social Framework https://www.ndb.int/wp-content/uploads/2017/02/ndb-environment-social-framework-20160330.pdf Sustainable Financing Policy Framework https://www.ndb.int/wp-content/uploads/2020/05/2020 FC22 A113 018 b-NDB-Sustainable-Financing-Policy- Framework.pdf O 2021 New Development Bank New Development Bank 39#40CONTACT US Treasury and Portfolio Management [email protected] www.ndb.int 1600, Guozhan Road, Pudong New District, Shanghai, 201206, China New Development Bank O 2021 New Development Bank 40#41Thank you New Development Bank