#1بنك الإمارات دبي الوطني Emirates NBD 60 years together Too Lolc 60 Investor Presentation Emirates NED COLLL -------- September 2023#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 into 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 herein 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#3Emirates NBD Profile Emirates NBD#4Emirates NBD is a leading bank in the MENAT Region Key Highlights as of June 2023 AED 17.90 Share Price As of 19 Sept 2023 AED 113bn Market Cap As of 19 Sept 2023 4th Largest Bank in GCC 2nd Largest Bank in UAE AED 21.3bn Total Income AED 12.3bn Profit 3.96% Net Interest Margin AED 811bn Total Assets AED 556bn Total Deposits AED 479bn Total Loans 19.5% Capital Ratio 56% 40% 13 855 Government of Dubai Holding Foreign Ownership Limit Countries Branches 20 million + customers 4#5Emirates NBD at a glance Key Highlights 1. Largest financial institution in Dubai, one of the largest and most profitable in GCC 2. Leading retail banking franchise with a branch network of 855 branches throughout the MENAT region with operations in 13 countries 3. Leader in digital banking: largest digital lifestyle bank in the region Emirates NBD's International Presence 650 Turkey 11 Austria 3 Germany 1 Moscow 1 Bahrain 4. 55.8% indirectly owned by the Government of Dubai through ICD 1 London 68 Egypt 9 KSA Stable Credit Ratings 107 UAE 3 India Short-term Long-term Outlook 1 Singapore Moody's P-1 A2 Stable 1 Jakarta 1 Fitch F1 A+ Stable Beijing CI A1 A+ Stable Emirates NBD Emirates NBD Rep. Offices DenizBank 5#6Stable Shareholder Base and Diversified Business Model Split of Ownership - Anchored by the Government of Dubai Ownership structure as of 31 March 2023 Others 39% Capital Assets 5% 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 14.1% on 14 July 2023 Dividend per share grew 150% since 2013 Dividend per share growth (CAGR) of 10% p.a. 0.60 Equity Analysts Coverage 0.50 Buy Hold Sell 0.40 0.40 0.40 0.40 0.40 0.40 0.35 0.25 Recommendation Average Target Price Price as of 19 September 2023 H1-2023 EPS 14 1 19.51 17.90 1.90 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 All figures in AED 6#7Leader in Digital Banking and Innovation Overview liv is Emirates NBD's digital bank with over 450,000 customers. It has been refreshed with a new product portfolio and value proposition, focused on enabling the Gen Now to "Liv Ahead". Key products: О Liv Bonus Multiplier Account - A gamified savings/current account providing up to 3% increment on salary for banking more with Liv Liv Money Ahead - A rewarding Fixed Deposit account providing upfront interest of 4%, with a lock-in period of 120 days during the campaign 。 Liv World Credit Cards - Allow one- click switching between reward programs, without requiring a change of the card number or card plastic BE READY FOR MORE MONEY liv ahead liv WORLD PLATINUM DEBIT mastercord لا Liv Goal Account - A savings accounts through which customers can set specific goals and set up rules to save for them in a targeted way Liv Young - Enables parents and guardians to open a mobile-based account for their children and wards between the ages of 8 to 17 • Key Digital Developments Enhanced everyday banking app ENBD X launched with 150+ services, including 100+ STPS Launched a digital wealth platform, embedded in ENBD X, enabling customers to trade >11K global and local equities and ETF across 21 global and local stock exchanges Enabled instant journeys across accounts, credit cards, and personal loans on tablet banking, reducing back-office processing significantly Upgraded website platform to best-in-class Sitecore CMS, enabling faster performance and improved security Accelerated ATM cash withdrawal by 2.6x through journey optimizations Revamped WhatsApp banking application, activating 14 high-use journeys Transactions via digital channels Eligible Retail Business customers digitally active Eligible Corporate clients opting for digital platform 2021 2021 2021 96% 84% 91% 98% 85% 91% H1 2023 H1 2023 H1 2023 7#8adidas Emirates BD LUNTEER Excharger ior ESG Performance - Key developments 1. First female director elected to the Board in February 2022. 2. First UAE banking Group to commit to female leadership target, aiming for 25% women in senior management by 2027 3. Denizbank ranked top among Turkish private banks with 38% market share in agricultural lending in 2022 • • . • • • Sales force equipped with tablets streamlining approval process, resulting in 3.3 million of sheets of paper saved Bio-Card issuance increased to 75% in 2022 Four branches in UAE and KSA achieving LEED Platinum and LEED Gold Cerifications Transitioning towards electric and hybrid fleet vehicles 3% reduction in Greenhouse Gas intensity per employee DenizBank HO is the first project in Europe certified at LEED v4 Gold level All new branches designed to include all Disability Friendly facilities Staff re-skilled and upskilled with 500,000 hours of training 85 nationalities make up diverse workforce of FTES 41% of our employees are Women ENBD aligned with the United Nations Sustainable Development Goal of achieving gender equality Contributed AED 123m to local community in 2022 Emirates NBD 8#9EmCap raised sustainable capital from 20 syndicated loan and debt capital market transactions in 2022 for clients in UAE, Saudi Arabia, India, China, Singapore and Turkey • Raised first Sustainability- linked loan from a bank from the Gulf region: KPI 1: Women in Senior Management KPI 2: Reduction in Water Consumption Carbon Trading introduced to empower customers to manage emissions Green auto loans doubled in 2022 ENBD Asset Management is a signatory to the UN PRI - Principles for Responsible Investment DenizBank provided project financing support of USD 1.1 billion for renewable energy projects and sustainability to date. Wealth Management and Sustainable Investment Framework created and Climate Risk Policy under development For more about ESG report, please visit: ESG Finance and Investment Activities 9#10Emirates NBD is one of the largest and most profitable banks in the MENAT region... Total Income In USD mn Net Profit In USD mn Total Asset In USD bn Total Deposit In USD bn H1 2023 Emirates NBD 160) 5,800 Emirates NBD 1601 3,340 * QNB 330 * QNB 230 QNB 4,982 SNB 2,676 بنك أبوظبي الأول FABT First Abu Dhabi Bank بنك أبوظبي الأول 312 SNB 4,593 FAB 2,220 SNB 266 First Abu Dhabi Bank بنك أبوظبي الأول FAB First Abu Dhabi Bank 203 SNB 161 بنك أبوظبي الأول FABT First Abu Dhabi Bank مصرف الراجحي 3,694 2,211 Emirates NBD Al Rajhi Bank 1601 مصرف الراجحي 221 0 Al Rajhi Bank 152 مصرف الراجحي مصرف الراجحي Al Rajhi Bank 3,628 * QNB 2,081 0 Al Rajhi Bank 209 Emirates NBD 60 151 بنك أبوظبي التجاري ADCB 2,172 بنك أبوظبي التجاري ADCB 1,038 بنك أبوظبي التجاري ADCB 142 بنك أبوظبي التجاري ADCB 86 10#11... and Emirates NBD is a national champion, one of the two largest banks in the UAE Total Income In AED mn Net Profit In AED mn H1 2023 Emirates NBD 60 21,287 Emirates NBD 612,259 بنك أبوظبي الأول FABT First Abu Dhabi Bank بنك أبوظبي التجاري ADCB المشرق mashreq بنك دبي الإسلامي Dubai Islamic Bank مصرف أبو ظبي الإسلامي ADIB 13,558 7,971 5,989 بنك أبوظبي الأول FABT First Abu Dhabi Bank بنك أبوظبي التجاري ADCB المشرق mashreq بنك دبي الإسلامي 5,580 Dubai Islamic Bank 5,573 مصرف أبوظبي الإسلامي ADIB Total Gross Loans In AED bn بنك أبوظبي الأول FAB 504 First Abu Dhabi Bank Coverage Ratio & NPLs (%) CET-1 Ratio (%) As of 30 June 2023 NPL% As of 30 June 2023 المشرق mashreq 238 1.7 Emirates NBD 16.6 8,146 Emirates NBD 1601 479 Emirates NBD 1601 147 5.6 3,811 بنك أبوظبي التجاري ADCB 3,560 بنك دبي الإسلامي Dubai Islamic Bank 3,111 2,326 مصرف أبوظبي الإسلامي ADIB المشرق mashreq بنك أبوظبي الأول المشرق 15.0 mashreq بنك أبوظبي الأول 282 FAB 103 3.7 FAB 13.6 First Abu Dhabi Bank First Abu Dhabi Bank 199 بنك أبو ظبي التجاري ADCB 115 بنك دبي الإسلامي Dubai Islamic Bank 102 مصرف أبوظبي الإسلامي ADIB 99 99 5.1 بنك دبي الإسلامي Dubai Islamic Bank 81 6.4 73 7.5 بنك أبوظبي التجاري ADCB مصرف أبوظبي الإسلامي ADIB 13.4 13.4 12.8 11#12... with consistent profitability due to diversified and resilient business model Return on Average Tangible Equity (excluding 2019 NI gain) 11% 16% 20% 18% 19% 20% 17% 10% 13% 17% 30% Total Income CAGR (13-22): 11% Net Profit CAGR (13-22): 15% 17.4 15.2 15.4 14.4 14.7 11.8 10.0 8.3 7.1 7.2 5.1 3.3 23.8 23.2 22.4 14.5 32.5 21.3 13.0 14.2 9.3 12.3 11.5 7.0 6.2 4.8 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 H1-23 ■Total Income (AED Bn) ■Net Profit (AED Bn) H1 Total Income H1 Net Profit * 2019 includes gain on disposal of NI AED 4.4 bn 12#13Economic Environment Emirates NBD#14UAE economy rebounding with 7.9% growth in 2022 and 2.9% expected in 2023 UAE GDP Growth 7.9 8.0 % y/y 4.4 4.0 2.9 2.4 1.2 1.1 0.0 -4.0 -5.0 -8.0 2017 2018 2019 2020 2021 2022 2023f Key contributors of Dubai GDP - March 2023 Key Highlights • UAE PMI averaged 56.3 in Q2 on strong domestic demand. • UAE corporate tax will help to further diversify budget revenues from 2025. • • • Dubai CPI slowed to 2.1% y/y in June, the lowest rate since Jan 2022 Dubai tourism fully recovered from pandemic. H1-2023 visitors up 2.3% on H1-2019 Dubai's Villa sales prices rose 17.1% y/y and Apartments up 15.8% y/y in Q2 2023. Office rents rose 18% y/y in Q2 2023. Off-plan sales made up 56% of total residential transactions. Dubai private school enrollments 350 Trade Other Transport Financial Services 22.9 Thousands 326 15.8 330 12.8% 14.1 310 12.7 290 276 Manufacturing Real Estate Services Construction 7.4 267 270 260 7.4 252 250 242 7.0 231 230 Government 4.3 212 ICT 4.3 210 Hospitality 4.1 190 170 0 LO 5 10 15 20 25 اس 288 289 275 150 Sep-12 Sep-14 Sep-16 Sep-18 Sep-20 Sep-22 14#152017 2018 2019 2020 Source: UAE Central Bank, Bloomberg, UAE Ministry of Health, Asteco 2021 2022 Jul-23 2020 2019 2021 2022 2023 Average hotel occupancy rates (LHS) -Average revenue per available room RevPAR (RHS) וויד י 15.8 15.9 16.7 Jun-15 Dec-15 Jun-16 Dubai tourists In million tourists Dec-16 Jun-17 Dec-17 (10) (20) 50 % y/y 40 30 20 10 0 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 -Villas -Apartments Dubai property prices growth Dec-20 14.4 Jun-21 Dec-21 Jun-22 Dec-22 Thousands 160 Dubai occupancy rates and RevPAR (Jan-Jun) 100 Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 0 25 20 15 10 5 35 30 Real estate transactions Dubai: Positioning for future growth ■Existing properties Off plan USD 15#16Financial & Operating Performance Emirates NBD#17Executive Summary H1 23 Results AED AED Record profit of AED 12.3 bn in H1-23 on higher income & strong recoveries Record income of AED 21.3 bn in H1-23 on improved loan & deposit mix coupled with higher interest rates Deposits grew 11% by AED 53 bn, including AED 37 bn CASA growth Investment in technology and AI is propelling future business growth AED ($) Corporate Lending closing key deals across region leading to loan guidance revised positively upwards Key Metrics and Guidance Profit Income NIM AED 12.3 bn AED 21.3 bn 3.96% +130% +50% Guidance 3.8-4.0% Cost to Income LCR CET 1 25.6% Guidance ≤ 33% 217% 16.6% Solid balance sheet surpasses AED 800bn for the first time ever, with improvement in capital, liquidity and credit quality and strong profit remain core strengths of the Group NPL Cover 147% NPL ratio 5.6% Guidance -6% Cost of Risk 41 bp Guidance -50-70 bp Loan Growth 5% Guidance revised to high-single digit 17#18Emirates NBD's profit rise 130% YoY to record AED 12.3 bn on strong diversified income growth and healthy recoveries Income Statement Net interest income Key Highlights Group profit up 130% on strong diversified income growth and healthy recoveries - ENBD income higher from improving deposit and loan mix, increased margins and higher transaction volumes – DeinzBank non-funded income higher in H1-23 from higher transaction volumes and increased contribution from DenizBank hedges and swaps H1-23 H1-22 %A YOY Q2-23 %A YOY %A QOQ (All figures are in AED bn) 14.4 9.4 53% 7.2 41% 1% • Non-funded income 6.9 4.8 44% 3.6 35% 10% Total income 21.3 14.2 50% 10.8 39% 3% Operating expenses (5.5) (4.1) 34% (2.8) 36% 7% Operating profit 15.8 10.1 56% 8.0 40% 2% - before impairment Impairment allowances (0.9) (1.9) (50)% (0.5) 4% 1% Profit before tax & others 14.9 8.3 80% 7.5 43% 2% • Hyperinflation adjustment (1.4) (1.9) (28)% (0.5) (49)% (37)% • Tax (1.3) (1.1) 19% (0.8) 5% 56% Profit 12.3 5.3 130% 6.2 78% 4% Cost: income ratio 25.6% 28.7% (3.1)% 26.0% (0.7)% 0.7% NIM 3.96% 2.86% 110bps 3.87% 78 bps (18) bps • • • Balance Sheet 30-Jun-23 31-Dec-22 %A YTD 31-Mar-23 %A QOQ Total Assets 811 742 9% 782 4% Total Gross Loans 479 456 5% 470 2% • Deposits 556 503 11% 538 3% CET-1 (%) 16.6% 15.4% 1.2% 15.8% 0.8% LCR (%) 217% 182% 34% 187% 29% NPL ratio (%) 5.6% 6.0% (0.4)% 5.6% 0% Higher NIMs reflect improving loan and deposit mix and higher interest rates Lower provisions as 41 bp cost of risk for H1-23 reflects strong recoveries and robust operating environment Balance sheet surpasses AED 800 bn for first time ever AED 37 bn further CASA growth demonstrates market leading deposit franchise Record half-year for Retail disbursements and strong new Corporate lending across region helping deliver loan. growth, leading to guidance revised upwards AED 1.9 bn profit contribution from DenizBank despite challenging operating environment Higher income enables accelerated investment in AI and international expansion propelling future business growth 18 13#19NIMs within guidance range on collective impact of rate rises, loan & deposit mix and Turkish operating environment Net Interest Margin (%) Quarterly NIM YTD NIM Key Highlights 4.40 4.05 3.96 • 4.05 H1-23 NIM up 110 bps y-o-y due to improved loan & deposit mix and higher interest rates 3.87 3.57 3.09 3.43 2.60 3.10 2.89 2.86 • 2.65 2.53 2.60 1.75% 0.25% 0.25% 0.50% 1.75% 3.25% 4.50% Fed Funds Upper Bound 5.00% 5.25% Q2-23 NIM down 18 bps q-o-q on DenizBank NIM contraction as expected (regulatory impact and increased interest rates), partially offset by higher ENBD margins (improved business mix and higher interest rates) Guidance maintained at 3.8-4.0% on collective impact of rate rises, loan & deposit mix and Turkish operating environment 2019 2020 2021 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 NIM drivers H1-23 vs H1-22 (%) NIM drivers Q2-23 vs Q1-23 (%) 2.86 3.44 (1.03) (0.79) (0.53) 3.96 0.28 4.05 3.87 (0.24) (0.05) (0.17) H1-22 Loan Yield Deposit Cost Treasury & Other DenizBank H1-23 Q1-23 Loan Yield Deposit Cost Treasury & Other DenizBank Q2-23 19#20Non-funded Income Non-funded income Q2-23 Q2-22 %A YOY Q1-23 %A QOQ (All figures are in AED m) Fee and Commission income 1,993 1,782 12% 2,016 (1)% • Fee and Commission expense (874) (714) 22% (897) (3)% Net Fee and Commission Income 1,120 1,068 5% 1,119 0% • Other operating income 2,394 1,552 54% 2,039 17% Gain / loss on trading securities 78 32 145% 112 (30)% . Total Non-funded income 3,592 2,652 35% 3,269 10% Fee and Commission Income (AED m) Key Highlights Healthy trend in fee and commission income, 12% higher y-o-y from increased local and international retail card business at both ENBD and DenizBank, strong investment banking revenue and increased Trade Finance Other operating income up 54% y-o-y due to higher volume of retail customer FX remittance, additional corporate hedging, and increase in foreign exchange and derivative income from hedging and swaps relating to DenizBank Underlying client FX & derivative income continues a strong quarter growth trend, and Q2-23 was boosted by lower swap funding costs in Turkey Other Operating Income (AED m) 2,016 1,806 1,870 1,993 1,801 68 69 73 63 54 267 271 233 218 228 2,394 23 2,039 284 287 1,552 1,388 5 311 359 28 1,041 1,505 1,533 1,569 1,681 158 1,653 2,087 85 49 1,441 1,188 1,202 907 Q2-22 Q3-22 ■Fee Income Q4-22 ■Trade Finance Q1-23 Q2-23 Q2-22 Q3-22 ■Brokerage and AM Fees Investment Securities Q1-23 Q4-22 ■Property & Others FX & Derivative. Q2-23 20#21Improving loan and deposit mix Gross Loans by Type (AED bn) 5% Key Highlights Gross lending up 5% in H1-23 Retail lending up 12% with strong demand across all products Corporate lending up 8% on strong origination with fewer repayments - DenizBank's TL gross loans up 24%. Gross loans down 3% after FX Deposit franchise is a proven key strength of ENBD with AED 53 bn growth in H1-23 including an impressive AED 37bn increase in CASA balance - CASA represents 61% of total Group deposits DenizBank's TL deposits up 63%. Deposits down 2% after FX . 463 470 479 457 456 66 66 69 73 67 DenizBank 91 94 95 101 107 Retail 124 114 113 116 112 ■Sovereign ■Corporate - 182 183 179 180 193 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Deposits by Type (AED bn) 11% Gross Loans by Sector (%) 538 556 Agri 1% 503 468 481 Other 3% 80 DenizBank 89 82 73 79 26 Manuf. 5% 22 Other 13 16 19 139 Time 118 114 128 133 Trans & Services 12% Trade 7% ■CASA Construction & Hotels 5% 264 272 274 293 311 FI & Mgmt Cos 10% Real Estate 9% Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Net Loans by Geography (%) Sovereign 23% Personal 25% International 23% GCC 2% UAE 75% 21#22Credit quality improving with market leading coverage Impaired loans and allowances Key Highlights 6.1 5.8 6.0 5.6 5.6 . • 37.7 37.9 39.4 39.8 39.3 NPL ratio improved by 0.4% to 5.6% in H1-23 on strong writebacks and recoveries Coverage ratio strengthened 2% to 147% in H1-23 28.3 26.6 27.3 26.2 26.8 152 147 143 145 133 . - S1 coverage increased due to Turkish earthquake and higher rate environment overlay - S2 coverage increased to 28.4% - S3 coverage slightly lower as 95.8% as modest new inflow has lower initial coverage 2023 NPL guidance maintained at '-6%' and cost of risk guidance maintained at '50-70bp' Q2-22 Q3-22 ■Impaired Loans (AED Bn) --Coverage Ratio (%) Coverage by Stage Q4-22 Q1-23 Q2-23 Impairment Allowances (AED Bn) NPL Ratio (%) Stagewise ECL (AED bn) Total Gross Loans FY-22 | AED 456 bn Stage 1 87.7% 39.4 39.3 1.2% 26.8% 1.3% Stage 2 6.4% Stage 1 4.8 5.4 Stage 3 6.0% 28.4% 7.8 7.7 ■Stage 2 ■Stage 3 98.3% 95.8% 26.8 26.2 Q4-22 Q2-23 Q4-22 Q2-23 H1-23 | AED 479 bn Stage 1 88.7% Stage 2 5.7% Stage 3 5.6% 22#23Costs firmly controlled with focus on future growth Cost to Income Ratio (%) 29.1% 28.7% 28.2% 28.5% 27.4% 26.7% Q2-22 25.3% 26.0% 25.6% 25.3% Q3-22 Q4-22 Q1-23 Q2-23 CI Ratio (Quarterly) Upper Guidance range CI Ratio (YTD) Operating expenses trends (AED m) 36% 2,858 2,817 2,642 2,327 857 794 2,078 620 Other Cost 499 457 219 219 211 177 268 236 178 IIT & Commun. 175 255 208 Dep. & Amort. ■Staff Cost 1,238 1,396 1,514 1,567 1,634 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 • Key Highlights H1-23 cost to income ratio at 25.6% comfortably within guidance as continued acceleration of investment for growth supported by higher income. Staff costs increased y-o-y to deliver strong business growth and investment in human capital for future growth in digital and international Other costs increased q-o-q on higher service, legal and professional fees, an increase in VAT associated with higher business volumes and social contributions Operating expenses composition (%) Breakdown as of H1-23 0 Staff 58% Other 18% Depreciation 6% IT 4% Occupancy 3% Communication 3% Service & Legal 3% Equip. & Supp. 2% Marketing 2% Amortization 0% 23#24Funding & Liquidity remains very healthy Advances to Deposit and Liquidity Coverage Ratio (%) Key Highlights 217 • LCR of 217% and ADR of 79% demonstrate healthy liquidity 220 105 IADR % -LCR % 100 187 182 180 95 155 152 90 140 85 91 100 87 80 83 80 79 75 60 Q2-22 Q3-22 Q4-22 Q1-23 02-23 Composition of Liabilities and Debt Issued (%) Customer Deposits 78% . . • Liquid assets* of AED 82 billion cover 12% of total liabilities, 15% of deposits AED 9 bn of term debt issued in 2023 already fully covers 2023 maturities AED 4.8 bn maturities in remainder of 2023 ENBD and EI successfully issued AED 1 bn public bond and sukuk DenizBank raised over $530m equivalent through DPR in May with 4.1-year WAL and successfully rolled over $530m equivalent syndicated loan in June with 117% roll-over ratio Maturity Profile of Debt/Sukuk Issued AED 62.0 bn 19.7 11.4 10.5 11.1 0.4 Banks 5% 0.4 0.3 19.7 4.6 6.4 4.8 Others 8% 11.0 10.1 0.3 1.5 Debt/Sukuk 9% 3.3 4.3 4.3 2023 2024 2025 2026 2027 Beyond 2027 ■ENBD ■Club Deal DenizBank * Includes cash and deposits with Central Banks, excludes interbank balances and liquid investment securities 24#25Capital ratios extremely strong Capital (AED bn) 76.6 CET1 31-Dec-22 8.9 84.4 (0.3) (0.8) 5.6 99.1 9.1 Net Earnings Interest on AT1 ECL CET1 add-back 30-Jun-23 T1 T2 Capital 30-Jun-23 Risk Weighted Assets (AED bn) 2% • Key Highlights CET-1 ratio improved by 1.2% to 16.6% during H1-23 as AED 8.9 bn of net earnings more than offset 2% increase in RWAs Lower RWA density due to high quality Corporate loans added Capital ratios well above 11% / 12.5% / 14.5% CBUAE min. requirement . CET-1 at 16.1% excluding ECL regulatory add-back IAS 29 hyperinflation adjustment is capital neutral Capital Ratios (%) 19.5 515 479 490 499 508 18.0 18.5 18.3 18.7 1.1 1.1 1.1 1.1 1.1 1.8 117 123 132 139 129 1.9 1.9 1.8 1.8 31 31 33 11 11 11 32 33 33 12 12 15.0 15.5 15.4 15.8 16.6 320 326 323 331 334 Q2-22 Q3-22 Q4-22 Q1-23 ■Credit Risk Market Risk Operational Risk DenizBank Q2-23 Q2-22 Q3-22 ■CET1% Q4-22 AT1% T2% Q1-23 Q2-23 25#26Divisional Performance Operating Segment Metrics H1-23 H1-22 %A YOY Income (mn) 7,948 5,670 40% Expense (mn) 1,974 1,595 24% Retail Banking and Profit (mn) 4,227 3,619 Wealth Management 17% . Loans (bn) 107 91 17% Deposits (bn) 282 237 19% Income (mn) 4,097 3,006 36% Expense (mn) 337 311 8% Corporate and Institutional Banking Profit (mn) 4,060 1,878 > 100% Loans (bn) 306 306 (0)% Deposits (bn) 194 177 9% Income (mn) 2,074 453 > 100% Global Markets and Expense (mn) 98 88 11% Treasury Profit (mn) 1,963 291 > 100% Income (mn) 5,419 4,715 15% Expense (mn) 1,657 1,102 50% DenizBank Profit (mn) 1,900 569 > 100% Loans (bn) 67 66 1% Deposits (bn) 80 73 10% Key Highlights Retail Banking and Wealth Management had an excellent first half with highest ever revenue, strongest ever acquisition of loans and a substantial growth in balance sheet Robust business momentum continues with loan origination up 23 % y-o-y and Credit Card acquisitions up 31% y-o-y One-third market share of UAE Credit Card spend as card spends grew 30% y-o-y Lending increased by a record AED 12 bn and Deposits grew by AED 24 bn in first half of 2023 Income grew 40% y-o-y as RBWM delivered its highest ever half yearly revenue and non- funded income 'ENBD X' enhanced mobile banking app rolling out, delivering a new standard in customer service Liv refreshed, offering Gen Now an exciting all-purpose digital-banking companion Corporate and Institutional Banking capitalized its strategic partnership with major Government entities and Corporates by enhancing digitized service platforms Profitability jumped 116% on increased customer hedging, higher Trade Finance, CASA and Investment Banking income and strong recoveries Strong new lending and CASA growth ENBD Securities provides digital onboarding and instant trading access on ADX's Business Online services expanded and launched in India & KSA Global Markets and Treasury delivered an outstanding performance, contributing AED 2 billion in revenue during the first half of 2023 • Income rose fivefold driven by favorable Balance Sheet positioning coupled with a significant increase in banking book investment income Emirates NBD took the lead in offering carbon futures trading ahead of COP28, empowering customers to offset their carbon emissions. The product offering was further enhanced with real-time FX rates now available to customers The trading desk delivered another solid performance despite volatile market conditions Sales revenue increased by 54% with income from structured products growing by 63% DenizBank Profit up 234% to AED 1.9 billion helped by higher income and strong recoveries 26#27Appendix SIMRANFIRAY KAM Emirates NBD 60 years together 1601 PERE#28Monetary Assets Jun-20 466 Sep-20 477 Dec-20 Hyperinflation Türkiye Consumer Price Index 190% 505 Mar-21 524 Jun-21 547 Sep-21 571 110% Dec-21 687 Mar-22 844 Jun-22 978 Sep-22 1047 DenizBank's results and financial position included within ENBD's consolidated Financial Statements are adjusted for hyperinflation with effect from 1-Jan-22 Non-monetary Assets Dec-22 1128 38% Mar-23 1270 Monetary Liabilities Net Monetary 1 Equity Position • Jun-23 1352 0.6 0.7 Key Highlights Turkish CPI grew by 190% over preceding three-years and by 38% in the preceding 12 months Net profit H1-22 Income Expenses Provisions Profit before tax & others Hyperinflation Adjustment Tax Profit H1-23 Non-monetary Liabilities • (0.6) 0.8 1.6 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 Group EPS for H1 -23, excluding hyperinflation adjustment, is 92% higher at AED 2.11 compared to AED 1.1 for H1-22 Hyperinflation accounting not mandated by local regulator 28 0.5 1.9 (0.2)#29Financial Results Highlights H1 2023 Emirates NBD 160 Emirates NBD Excluding DenizBank 1601 DenizBank Income Statement H1-23 H1-22 %ΔΥΟΥ Q2-23 %A QOQ H1-23 H1-22 %A YOY Q2-23 %A QOQ H1-23 H1-22 %A YOY Q2-23 %A QOQ (All figures are in AED bn) Net interest income 14.4 9.4 53% 7.2 1% 12.0 6.4 87% 6.2 5% 2.4 3.0 (20)% 1.1 (21)% Non-funded income 6.9 4.8 44% 3.6 10% 3.9 3.1 26% 1.8 (11)% 3.0 1.7 77% 1.8 44% Total income 21.3 14.2 50% 10.8 3% 15.9 9.5 67% 8.0 1% 5.4 4.7 15% 2.8 10% Operating expenses (5.5) (4.1) 34% (2.8) 7% (3.8) (3.0) 28% (2.1) 19% (1.7) (1.1) 50% (0.8) (17)% Operating profit 15.8 10.1 56% 8.0 2% 12.1 6.5 85% 5.9 (4)% 3.8 3.6 4% 2.1 24% before impairment Impairment allowances (0.9) (1.9) (50)% (0.5) 1% (1.6) (1.6) (5)% (0.6) (28)% 0.6 (0.2) (345)% 0.2 (61)% Profit before tax & others 14.9 8.3 80% 7.5 2% 10.5 4.9 115% 5.3 1% 4.4 3.4 30% 2.3 7% Hyperinflation adjustment (1.4) (1.9) (28)% (0.5) (37)% 0.0 0.0 0.0 (1.4) (1.9) (28)% (0.5) (37)% Tax (1.3) (1.1) 19% (0.8) 56% (0.2) (0.1) 14% (0.1) (15)% (1.1) (0.9) 20% (0.7) 70% Profit 12.3 5.3 130% 6.2 4% 10.4 4.7 118% 5.2 1% 1.9 0.6 234% 1.0 19% Cost: income ratio 25.6% 28.7% NIM 3.96% 2.86% (3.1)% 110 bps 26.0% 3.87% 0.7% (18)bps 24.0% 31.4% 3.98% 2.31% (7.4)% 167 bps 25.9% 1.9% 30.4% 23.1% 7.3% 26.3% (8.7)% 3.93% (1) bps 4.05% 5.72% (167) bps 3.54% (103) bps Balance Sheet 30-Jun-23 31-Dec-22 %A YTD 31-Mar-23 %A QoQ 30-Jun-23 31-Dec-22 %A YTD 31-Mar-23 %A QoQ 30-Jun-23 31-Dec-22 %A YTD 31-Mar-23 %A QoQ Total Assets 811 742 9% 782 4% 686 618 11% 648 6% 125 124 1% 134 (7)% Total Gross Loans 479 456 5% 470 2% 412 387 7% 396 4% 67 69 (4)% 73 (9)% Deposits 556 503 11% 538 3% 476 421 13% 449 6% 80 82 (2)% 89 (10)% 29#30US$ convenience translation Emirates NBD 160 Emirates NBD 601 Excluding DenizBank DenizBank Income Statement H1-23 H1-22 %ΔΥΟΥ Q2-23 %A QOQ H1-23 H1-22 %A YOY Q2-23 %A QoQ H1-23 H1-22 %A YOY Q2-23 %A QOQ (All figures are in USD bn) Net interest income 3.9 2.6 53% 2.0 1% 3.3 1.7 87% 1.7 5% 0.7 0.8 (20)% 0.3 (21)% Non-funded income 1.9 1.3 44% 1.0 10% 1.1 0.8 26% 0.5 (11)% 0.8 0.5 77% 0.5 44% Total income 5.8 3.9 50% 2.9 3% 4.3 2.6 67% 2.2 1% 1.5 1.3 15% 0.8 10% Operating expenses (1.5) (1.1) 34% (0.8) 7% (1.0) (0.8) 28% (0.6) 19% (0.5) (0.3) 50% (0.2) (17)% Operating profit 4.3 2.8 56% 2.2 2% 3.3 1.8 85% 1.6 (4)% 1.0 1.0 4% 0.6 24% before impairment Impairment allowances (0.3) (0.5) (50)% (0.1) 1% (0.4) (0.4) (5)% (0.2) (28)% 0.2 (0.1) (345)% 0.0 (61)% Profit before tax & others 4.1 2.2 80% 2.1 2% 2.9 1.3 115% 1.4 1% 1.2 0.9 30% 0.6 7% Hyperinflation adjustment (0.4) (0.5) (28)% (0.1) (37)% 0.0 0.0 0.0 (0.4) (0.5) (28)% (0.1) (37)% Tax (0.3) (0.3) 19% (0.2) 56% (0.0) (0.0) 14% (0.0) (15)% (0.3) (0.3) 20% (0.2) 70% Profit 3.3 1.4 130% 1.7 4% 2.8 1.3 118% 1.4 1% 0.5 0.2 234% 0.3 19% Cost: income ratio 25.6% 28.7% NIM 3.96% 2.86% (3.1)% 110 bps 26.0% 3.87% 0.7% (18) bps 24.0% 31.4% 3.98% 2.31% (7)% 25.9% 167 bps 3.93% 1.9% 30.4% 23.1% 7.3% 26.3% (8.7)% (1) bps 4.05% 5.72% (167) bps 3.54% (103) bps Balance Sheet 30-Jun-23 31-Dec-22 %A YTD 31-Mar-23 %A QoQ 30-Jun-23 31-Dec-22 %A YTD 31-Mar-23 %A QoQ 30-Jun-23 31-Dec-22 %A YTD 31-Mar-23 %A QoQ Total Assets 221 202 9% 213 4% 187 168 11% 177 6% 34 34 1% 37 (7)% Total Gross Loans 131 124 5% 128 2% 112 105 7% 108 4% 18 19 (4)% 20 (9)% Deposits 151 137 11% 147 3% 130 115 13% 122 6% 22 22 (2)% 24 (10)% 30#31Emirates NBD 60 years together Dusit Thani ט