#1Emirates NBD Investor Presentation H1 2022 October 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 June 2022 AED 711 Bn Total Assets 13 Countries Emirates NBD at a Glance AED 463 Bn Gross Customer Loans 900 Branches AED 468 Bn Total Customer Deposits 17+ million Customers 4th Largest in GCC 56% Government of Dubai Shareholding 2nd Largest in UAE 40% FOL 12.4% foreign owners* -20% Market Share in UAE (Assets, Loans, Deposits) AED 84 Bn Market Capitalization* ** * As of end of June ** As at 28-Jul-22 4#5Emirates NBD at a glance Emirates NBD's International Presence Market share in the UAE* ➤ Assets 17.8%; Loans 21.8%; Deposits 19.7% ➤ 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 London 7 Germany 13 Moscow 1 Austria Turkey 696 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 30-Jun-22 excluding DenizBank Bahrain 7 KSA 105 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., the digital bank by Emirates NBD further strengthened its proposition growing its customer base to more than 660,000 customers in UAE & KSA Liv. during 2022 has launched Liv. Young, the region's first banking app and debit card for kids aged 8-18 years. Liv. Young helps kids build good money habits with features such as saving with goal accounts, tracking their spends, and earning by completing tasks/ chores assigned by parents Liv. Prime the subscription-based membership programme, offering customers an enhanced banking and lifestyle experience & Liv. credit cards which offers customers the flexibility to choose and easily switch between reward programmes along with added lifestyle benefits continued to gain traction in the year • Liv. continued to engage customers through various marketing campaigns including the roll out of Liv. Blog to help customers stay up-to-date on money matters Key Digital Developments • 90% of all face-to-face card payment transactions now 'contactless' through Mobile wallet • Continued to develop its digital platforms with enhancements to the mobile digital account opening process in UAE and roll out of a self-service tablet banking proposition for account opening & credit cards in KSA • The mobile app was enhanced with new features for payments and transfers • An enhanced tablet banking solution for new credit card sourcing was launched • Launched DEWA & TECOM IPO portal on Emirates NBD website with real time direct integration with Dubai Financial Market (DFM) Transactions via digital channels 96% 2021 Eligible Retail Business customers digitally active 84% 2021 Eligible Corporate clients opting for digital platform 91% 2021 98% 85% 91% H1 2022 H1 2022 H1 2022 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 • ⚫ 6 LEED certified engineers in Procurement & Facility Mgmt Energy efficiency ISO 14001:2015 certified for our environmental management system • 4% reduction in electricity consumption compared to 2021 3% reduction in Greenhouse Gas (GHG) emissions EmCap raised USD 9 bn of sustainable capital from 14 syndicated loan and debt capital market transactions for clients in UAE, Saudi Arabia, India, China, Singapore and Turkey For more about ESG report, please visit: Raised first Sustainability-linked loan from a bank from the Gulf region: ➤ KPI 1: Women in Senior Management ➤ KPI 2: Reduction in Water Consumption ESG Finance and Investment Activities ENBD Asset Management won contract to create and manage Masdar Green REIT - UAE's first 'green' REIT Social Impact 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 605 volunteer deployments via corporate volunteering programme ESG Certification for 130 employees across the UAE, KSA, Singapore, and London 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 30 June 2022 Others 39% Capital Assets 5% Balanced asset composition % by segment as at 30 June 2022 GM&T 20% Investment Corporation of Dubai 56% CI&B 43% DenizBank 16% 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 12.4% at June 2022 Recommendation In AED Equity Analysts Coverage Buy Hold Sell 11 1 Target Price 17.1 RBWM Price at 28-Jul-2022 13.25 11% 0.80 EPS 30-Jun-2022 Islamic Banking 10% 8#9Emirates NBD is one of the largest banks in the GCC... Total Assets Total Loans AED Bn, 30-Jun-2022 AED Bn, 30-Jun-2022 * QNB 1,125 ينك أبوظبي الأول FAB First Abu Dhabi Bank 1,042 QNB 796 SNB 536 SNB 938 مصرف الراجحي 517 Al Rajhi Bank Total Deposits AED Bn, 30-Jun-2022 Total Income AED Mn, H1 2022 QNB 795 * QNB 16,455 بنك أبوظبي الأول FAB First Abu Dhabi Bank 648 16,067 SNB SNB 580 Emirates NBD 14,205 بنك أبوظبي الأول Emirates NBD 711 FABT مصرف الراجحي مصرف الراجحي 472 540 First Abu Dhabi Bank Al Rajhi Bank Al Rajhi Bank 13,786 مصرف الراجحي Al Rajhi Bank 694 بنك أبو ظبي التجاري ADCB 476 Emirates NBD 463 Emirates NBD 468 بنك أبوظبي التجاري ADCB 254 بنك أبوظبي التجاري ADCB 292 بنك أبوظبي الأول FAB First Abu Dhabi Bank بنك أبوظبي التجاري ADCB 9,435 6,431 9#10...and one of the largest banks in the UAE Total Income AED Mn, H1 2022 14,205 Emirates NBD بنك أبوظبي الأول FABT First Abu Dhabi Bank بنك أبوظبي التجاري ADCB Net Profit AED Mn, H1 2022 بنك أبوظبي الأول FAB First Abu Dhabi Bank 8,031 Total Loans AED Bn, H1 2022 Coverage Ratio & NPLs (%) 30-June-2022 CET-1 Ratio (%) 30-Jun-2022 NPL% بنك أبوظبي الأول FAB First Abu Dhabi Bank 472 133 6.1 Emirates NBD Emirates NBD 14.5 12,529 Emirates NBD 5,318 463 Emirates NBD 6,431 بنك أبوظبي التجاري ADCB 3,059 بنك أبوظبي التجاري ADCB 254 بنك دبي الإسلامي بنك دبي الإسلامي ينك دبي الإسلامي Dubai Islamic Bank 6,265 Dubai Islamic Bank 2,700 Dubai Islamic Bank 204 المشرق mashreq مصرف أبوظبي الإسلامي ADIB 3,302 3,009 المشرق 1,443 mashreq مصرف أبوظبي الإسلامي ADIB مصرف أبو ظبي الإسلامي ADIB المشرق mashreq بنك أبوظبي الأول FAB First Abu Dhabi Bank بنك أبوظبي التجاري ADCB 97 بنك دبي الإسلامي Dubai Islamic Bank 132 4.6 13.2 بنك دبي التجاري Commercial Bank of Dubai 100 3.6 بنك أبوظبي التجاري ADCB بنك أبوظبي الأول 12.8 90 5.6 FAB 12.6 First Abu Dhabi Bank بنك دبي الإسلامي 74 6.5 Dubai Islamic Bank 12.4 1,442 المشرق بنك دبي التجاري 96 73 6.8 mashreq Commercial Bank of Dubai مصرف أبوظبي الإسلامي ADIB 12.4 10#11Consistently profitable due to diversified and resilient business model 8.8% 10.5% 15.7% 19.7% 18.0% 18.8% 20.3% 16.5% 9.5% 12.8% 14.6% 10.2 11.8 Total Income '12-'21 CAGR: 10% Net Profit '12-'21 CAGR: 15% 17.4 15.2 15.4 14.7 14.4 10.0 8.3 7.1 7.2 5.1 3.3 2.6 2012 2013 2014 2015 2016 2017 2018 ■Total Income (AED Bn) ■Net Profit (AED Bn) 23.8 23.2 ZZ.4 2019 14.5 9.3 7.0 14.2 5.3 2020 2021 H1 2022 Return on Average Tangible Equity Excl. NI gain for 2019 11#12UAE economy rebounding with 5.7% growth expected in 2022 8.0 % y/y UAE GDP Growth 4.0 3.9 2.4 1.2 1.1 0.0 -4.0 -5.0 7.0 3.9 -8.0 2017 2018 2019 2020 2021 2022f 2023f Dubai property prices growth - June 2022 Key Highlights • • The Dubai PMI rose to 56.4 in July, the highest reading since mid-2019 Dubai tourism sector is expected to benefit from the Qatar World Cup ENBD Research expects UAE GDP to grow by 5.7% and the non-oil economy to grow by 4.0% in 2022 • Dubai's sale price for villas up 30% and apartments up 24% y/y in Q2- 2022 8 % y/y 6 50 50 % y/y -Villa -Apartments 40 4 30 2 20 10 0 0 -2 -10 -4 -20 -6 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Source: UAE Central Bank, Bloomberg, UAE Ministry of Health, Asteco Dubai CPI 1/1/2019 6/1/2019 11/1/2019 4/1/2020 9/1/2020 2/1/2021 7/1/2021 12/1/2021 5/1/2022 12#13Dubai: Positioning for future growth Key contributors to Dubai GDP (Q1 2022) In million tourists 7 4 Hospitality ICT 4.4% Other 14.6% Trade 22.6% 6.3% Goverment 4.8% Construction 6.9% % of total . Financial Services 12.4% Transport 11.0% Real estate services 8.4% Manufacturing 8.6% Visitors (January-June) 8.36 8.06 8.10 7.12 2.52 Key Highlights • ENBD Research expects Dubai's economy to grow by 4.5% in 2022 Strong visitor numbers have given grounds for optimism, and Dubai Airports expects that pre-Covid levels could be achieved as soon as 2024. • Hotel occupancy averaged 73.6% in Dubai for H1-22, a significant improvement on 2020 and 2021 % 100 200 Dubai occupancy rates and RevPAR (January-June) 88 80 160 60 40 76.3 78.0 76.6 75.2 20 73.6 60.7 45.9 120 80 60 40 USD 0 0 1 2016 2017 2018 2019 2020 2021 2022 2017 2018 2019 2021 2022 Average hotel occupancy rates (LHS) Average revenue per available room RevPAR (RHS) Source: STR Global, Bloomberg, DTCM, Dubai Statistics 13#14Emirates NBD delivers strong results and maintains solid balance sheet in H1-22 Key Highlights AED Strong momentum continues with H1-22 profit up 11% to AED 5.3bn Key Metrics & Guidance Net Profit AED 5.3bn +11% 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 41% of diversified income, with DenizBank delivering particularly strong income growth Diversified balance sheet, strong operating profits and solid capital base remain core strengths of the Group NIM 2.86% 2022 guidance / Revised: 2.70-2.80% 3.20-3.30% Cost to Income 28.7% 2022 guidance: Within 33% NPL 6.1% 2022 guidance: mid 6% LCR 154.8% Loan Growth 1% in H1-22 2022 guidance: Low-single digit NPL Cover 133.3% 2022 CoR guidance: 100-125 bps 14#15Strong diversified income and profit growth in H1-22 Emirates NBD DenizBank ✡ Highlights Income Liquidity Risk Expenses Capital Divisional • Income Statement (AED bn) H1-22 H1-21 Better / (Worse) H1-22 H1-21 Better / (Worse) H1-22 H1-21 Better / (Worse) • Net interest income 9.4 8.1 16% 6.4 5.6 14% 3.0 2.5 19% • Non-funded income 4.8 3.4 40% 3.1 2.6 18% 1.7 0.8 117% Total income 14.2 11.5 23% 9.5 8.2 15% 4.7 3.3 42% Operating expenses (4.1) (3.8) (8)% (3.0) (2.6) (13)% (1.1) (1.1) 4% Pre-impairment 10.1 7.8 30% 6.5 5.6 16% 3.6 2.2 66% operating profit . Impairment allowances (1.9) (2.6) 28% (1.6) (1.7) 5% (0.2) (0.9) 72% Tax and others (1.1) (0.4) (199)% (0.1) (0.1) (37)% (0.9) (0.3) (261)% • Profit after tax and 7.2 4.8 50% 4.7 3.8 26% 2.5 1.0 136% before hyperinflation Hyperinflation adjustment (1.9) n/m (1.9) n/m Net profit 5.3 4.8 11% 4.7 3.8 26% 0.6 1.0 (44)% Cost: income ratio 28.7% 32.6% 3.9% 31.4% 32.0% 0.6% 23.1% 34.2% 11.1% NIM 2.86% 2.45% 0.41% 2.31% 2.07% 0.24% 5.72% 4.13% 1.59% • Key Highlights Group net profit up by 11% and strong diversified income absorbs new hyperinflation adjustment ENBD income higher from improving margins and increased transaction volumes DeinzBank income higher from increased lending, wider margins and hedging Lower provisions with strong writebacks and recoveries as H1 cost of risk improved to 79bp reflecting improving operating environment AED 0.6 bn net profit from DenizBank despite AED 1.9 bn hyperinflation adjustment Higher income enables accelerated investment in international growth and digital NIMS revised upwards by 50bp on rising interest rates and improving DenizBank margins 1% loan growth in H1-22 with healthy new lending on continued strong retail and renewed corporate lending demand 15#16Q2-22 results highlights * Highlights Income Risk Expenses Capital Liquidity Divisional Key Highlights Strong Q2-22 results with net profit up 42% y-o-y on higher income and lower impairments • Net interest income up 27% y-o-y on improved loan and deposit mix - Higher interest rates feeding through to margins - DenizBank experiencing strong loan growth and widening margins • Non-funded income up 101% y-o-y from increased transaction activity Better/ Income Statement (AED bn) Q2-22 Q2-21 Q1-22* (Worse) Better/ (Worse) Net interest income 5.1 4.1 27% 4.3 21% • Non-funded income 2.7 1.3 101% 2.1 25% Total income 7.8 5.4 45% 6.4 22% Operating expenses (2.1) (1.9) (10)% (2.0) (6)% Pre-impairment operating profit 5.7 3.5 64% 4.4 30% Impairment allowances (0.5) (0.9) 46% (1.4) 67% Tax and others (0.7) (0.2) (439)% (0.3) (184)% Profit after tax and before 4.5 2.5 83% 2.7 64% hyperinflation Hyperinflation adjustment (1.0) n/m n/m • Net profit 3.5 2.5 42% 2.7 28% Cost: income ratio 26.7% 35.3% 8.6% NIM 3.09% 2.44% 30.8% 0.65% 2.60% 4.1% 0.49% Balance Sheet (AED bn) 30-Jun-22 31-Dec-21 Inc/ (Dec) 31-Mar-22 Total assets 711 687 3% 694 Inc/ (Dec) 2% Loans 425 422 1% 425 Deposits 468 457 2% 469 CET-1 (%) 15.0% LCR (%) NPL ratio (%) 154.8% 6.1% 15.1% 177.6% 6.3% (0.1)% 15.0% (22.8)% 157.4% (0.2)% 6.4% (2.6)% (0.3)% - Increased local and international card transactions - Growth in client flow FX & Derivative transaction income Expenses well controlled in Q2-22 with positive jaws - Higher income enables Group to accelerate investment in international footprint and digital capabilities • Q2-22 cost of risk 41 bps on writeback and recoveries reflecting improving operating environment • • Healthy new lending on continued strong retail and renewed corporate lending demand Group maintains strong Capital and Liquidity with coverage ratio highest amongst regional peers As reported. If hyperinflation had been applied in Q1, net profit would be AED 0.9 billion lower in Q1-22 16#17Net interest income - NIM guidance revised up 50 bps 2.65 Quarterly NIM YTD NIM Net Interest Margin (%) 2.65 2.59 2.60 3.09 Highlights Income Risk Expenses Capital Liquidity Divisional Key Highlights 2.86 • • Q2-22 NIM up 65 bps y-o-y on ENBD's improved loan and deposit mix and wider margins at DenizBank - Loan yields up 51 bps on higher retail balances and rising interest rates DenizBank margins widening from core growth H1-22 NIM improved 41 bps y-o-y as rate rises feeding through and improving DenizBank NIMs 2022 guidance revised up 50bp to 3.20-3.30% on further anticipated rate rises and wider margins from DenizBank 2.46 2.46 2.45 2.42 2.53 2.51 2.44 2020 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 0.28 2.45 NIM drivers H1-22 vs H1-21 (%) 0.03 (0.07) 2.86 0.17 NIM drivers Q2-22 vs Q2-21 (%) 3.09 0.28 (0.02) (0.12) 0.51 2.44 H121 Loan Yield Deposit Cost Treasury DenizBank H1 22 Q2 21 Loan Yield & Other Deposit Cost Treasury DenizBank Q2 22 & Others Emirates NBD Emirates NBD 17#18Loans and deposits trends Gross Loans by Type (AED Bn) +1% 475 475 459 463 463 DenizBank 79 79 65 65 66 - EI* 46 47 47 50 52 - 52 54 56 59 Retail 61 - Highlights Income Risk Expenses Capital Liquidity Divisional Key Highlights • Gross loans grew 1% (AED 4bn) in H1-22 Retail lending up 8% (AED 5 bn) with strong demand across all products El Financing and Receivables up 11% (AED 5 bn) DenizBank's gross loans up 26% in H1-22 Deposit mix improved in H1-22 with AED 10bn increase in CASA balance - CASA represents 62% of total Group deposits DenizBank's deposits up 32% in H1-22 298 296 291 289 284 - Corporate Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Deposits by Type (AED Bn) +2% 458 467 469 468 456 DenizBank 79 78 70 69 73 9 8 10 10 13 Other 117 130 134 124 118 Time Gross Loans by Sector (%) Other 3% Agric. 1% Manuf. 5% Trans & Services 10% Trade 7% Construction & Hotels 5% Net Loans by Geography (%) Sovereign 27% International 20% CASA 241 246 254 272 264 FI & Mgmt Cos 9% Personal 22% Real estate 11% Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 * Gross Islamic Financing Net of Deferred Income GCC 4% UAE 76% 18#19Non-funded income • Non-funded income (AED mn) Q2-22 Q2-21 Fee and Commission income 1,782 1,605 Better/ (Worse) 11% Q1-22 Better/ (Worse) 1,527 17% • Fee and Commission expense (714) (583) (22)% (607) (18)% Net Fee and Commission Income 1,068 1,022 4% 920 16% Other operating income 1,552 239 549% 1,189 30% Gain / loss on trading securities 32 55 (42)% 10 216% Total Non-funded income 2,652 1,316 101% 2,118 25% Fee and Commission Income (AED mn) 1,767 53 1,605 220 1,565 1,538 1,527 92 1,782 63 231 Brokerage &AM 81 113 58 Trade finance 227 192 198 192 Highlights Income Risk Expenses Capital Liquidity Divisional Key Highlights Q2-22 fee and commission income 11% higher y-o-y from increased local and international retail card business at both ENBD and DenizBank and strong investment banking revenue Other operating income up substantially y-o-y due to - higher Retail FX volumes as customers took advantage of strong dollar and increased remittance Increased activity from SMEs and increased flows due to change to the Saturday-Sunday weekend gains from DenizBank balance sheet hedges 914 Other Operating Income (AED mn) 1,378 1,188 1,552 921 1,188 922 1,494 1,488 585 FX & Derivative 1,286 1,293 1,232 1,271 Fee income 379 239 191 174 32 430 Property & Other 217 359 155 199 166 Investment Sec. -8- 23. 28. 49. 5. Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q1 21 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 19#20Operating expenses 35.3 34.0 Cost to Income Ratio (%) 34.8 Highlights Income Risk Expenses Capital Liquidity Divisional Key Highlights • • • Q2 22 cost to income ratio at 28.7% below guidance reflecting stronger income 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 branch network Higher IT costs reflecting increased investment in digital platform Cl ratio within 33% guidance revised enabling an acceleration in investment for future growth 32.6 33.1 33.5 30.8 • 28.7 26.7 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 CI Ratio (YTD) CI Ratio (QTD) Guidance Operating expenses trends (AED mn) +10% 2,272 2,078 1,896 1,956 1,965 625 498 Other Cost 392 410 441 182 147 150 156 175 IT & Commun. 236 240 239 176 167 Dep. & Amort. 1,116 1,157 1,229 1,192 Staff Cost 1,238 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Operating expenses composition (%) Breakdown as at Q2-22 Dep. & Amort. 10% Staff 60% Other 11% IT 5% Occupancy 3% Equip. & Supp. 3% Commun. 3% Service & Legal 3% Marketing 2% 20#21Credit quality Impaired loans and allowances 6.3 6.2 6.3 6.4 6.1 • 36.4 37.1 37.2 37.9 37.7 • 29.7 29.2 29.2 29.5 28.3 133.3 127.5 126.7 128.5 122.5 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Impaired Loans (AED Bn) * Impairment Allowances (AED Bn) NPL Ratio (%) Coverage ratio (%) Coverage by Stage* Stagewise ECL (AED bn) 37.2 37.7 0.9% 1.0% Stage 1 3.8 3.8 23.5% Stage 1 22.2% 6.9 7.3 Stage 2 Stage 2 91.1% 95.0 % Stage 3 26.4 26.7 Stage 3 FY-21 Q2-22 FY-21 Q2 22 Highlights Income Risk Expenses Capital Liquidity Divisional Key Highlights NPL ratio improved by 0.3% to 6.1% in Q2-22 on strong writebacks and recoveries Coverage ratio strengthened 4.8% to 133.3% in Q2-22 。 S3 coverage increased to 95% as writeback and recoveries reduced impaired loan balances o S1 and S2 coverage stable 79 bps cost of risk below 2021 level of 124bp on higher writeback & recoveries and reflecting improving economic environment with DenizBank's cost of risk at 76 bps *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 Q2-22, AED 463bn Stage 1 87% 87% 7% Stage 2 7% FY-21 AED 459n 6% Stage 3 6% 21#22Capital adequacy Capital (AED billion) 86.1 5.3 9.1 71.7 (0.2) (0.4) 67.5 4.8 CET1 31-Dec-21 Net earnings Interest on AT1 ECL add-back CET1 30-Jun-22 T1 T2 Capital 30-Jun-22 Highlights Income Risk Expenses Capital Liquidity Divisional Key Highlights • CET-1 ratio stable at 15.0% during 2022 as AED 4.8bn of net earnings largely offset • - AED 0.4bn reduction in ECL addback 7% increase in RWAs as strong growth in retail and a range of corporate sectors more than offset Sovereign repayments Capital ratios well above 11% / 12.5% / 14.5% CBUAE min. requirement • CET-1 at 14.5% excluding ECL regulatory add-back • IAS 29 hyperinflation adjustment is capital neutral Risk Weighted Assets (AED billion) Capital Ratios % +7% 479.2 453.3 451.1 457.9 446.4 19.2 18.7 18.3 T2% 1.1 18.1 18.0 DenizBank 117.3 1.1 1.1 121.7 120.4 110.5 113.1 2.0 1.1 1.1 2.0 AT1% 2.1 2.0 1.9 Operational Risk 30.8 31.3 31.3 30.8 30.8 11.2 Market Risk 12.9 11.0 9.6 10.4 CET1% 15.6 16.1 15.1 15.0 15.0 Credit Risk 287.4 288.3 295.5 303.6 320.0 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 22#23Funding and liquidity Advances to Deposit and Liquidity Coverage Ratio (%) ADR % LCR % 100 180 158.8 177.6 157.2 160 Highlights Income Risk Expenses Capital Liquidity Divisional Key Highlights • • OLCR of 154.8% and ADR of 90.8% demonstrate healthy liquidity Liquid assets* of AED 63 billion cover 10% of total liabilities, 13% of deposits • AED 3.7 bn of term debt issued in H1-22 DenizBank successfully upsized its 1-year rolling syndicated loan in June to AED 1.7 bn with issuance in three currencies AED 6.7 bn maturities for remainder of 2022 covered through excess issuance in 2020 and 2021 96 • 157.4 154.8 92 • 140 95.7 94.0 92.5 120 88 90.7 90.8 88 100 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Composition of Liabilities and Debt Issued (%) Customer deposits 75% Banks 7% 84 . Maturity Profile of Debt/ Sukuk Issued AED 60.3 bn 18.1 .0.0 10.6 Others 8% 0.4 9.5 7.6 0.4 7.8 18.1 6.7 0.7 0.0 6.4 0.9 9.1 Debt/Sukuk 7.0 7.8 5.8 3.8 11% 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 23#24Divisional performance Operating Segment Metrics H1-22 Increase / (Decrease) Income (mn) 4,653 Retail Banking and Wealth. Management Expenses (mn) 1,218 -16% Loans (bn) 58.8 Deposits (bn) 194.8 9% 9% Income (mn) 2,726 -6% Corporate and Institutional Banking Expenses (mn) 274 -2% Loans (bn) 255.9 -3% Deposits (bn) 145.9 -9% • 17% Highlights Income Risk Expenses Capital Liquidity Divisional Key Highlights Retail Banking and Wealth Management . Record half-year for income, loans & cards acquisitions and balance sheet growth Lending grew by AED4.9 bn, whilst CASA grew by a record AED 15.5bn in H1 Launched DEWA & TECOM IPO portal on Emirates NBD website with real time direct integration with DFM Launched Emirates NBD Etihad Guest Credit Card with one of the highest Etihad Guest earning and rewards opportunities; signed a strategic partnership with RSA 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 Implemented cutting-edge new BusinessONLINE platform Profitability boosted by higher fee income and lower impairment allowances Strong growth in new lending offset substantial contractual repayments Developing strategic partnership with major Government entities and Corporates by digitizing service platforms Emirates Islamic • Net profit up 23% y-o-y to AED 701m on higher income and lower provisions Customer financing at AED 47.4 bn, increased 11% in H1-22 Customer deposits increased 15% in H1-22 with CASA now 76% of total deposits Global Markets and Treasury . Net interest income grew 264% y-o-y in H1-22 due to higher income from balance sheet positioning, hedges and an increase in banking book investment income. Non funded income was 289% higher with a significant performance delivered by Rates, Credit and Foreign exchange Trading. International Treasury functions grew their revenue contribution by 186%. DenizBank • • • Income up 42% (AED 1.4bn) helping offset AED 1.9bn hyperinflation adjustment. Impairment allowances AED 0.6 bn lower on strong writebacks and recoveries Total loans & deposits up 3% & 6% respectively in AED on strong growth Income (mn) 1,370 16% Expenses (mn) 594 -13% Emirates Islamic Loans (bn) 47.4 11% • Deposits (bn) 54.3 15% Income (mn) 420 >100% Expenses (mn) 79 Global Markets and Treasury -1% | Assets (bn) 142.0 21% Liabilities (bn) 32.0 14% • Income (mn) 4,715 42% Expenses (mn) 1.102 3% DenizBank Loans (bn) 62.9 3% 6% Deposits (bn) 73.0 24#25Appendix 1: Türkiye Consumer Price Index +133% 64% Hyperinflation 42% • 978 844 687 419 427 441 451 466 477 505 524 547 571 . Key Highlights Loss on net monetary position for DenizBank was AED 1.9 bn for first six months of 2022 AED 1.9 bn debit P&L charge with corresponding credit offset to OCI making it capital neutral Jul 19 Sep 19 Dec 19 Mar 20 Jun 20 Sep 20 Dec 20 Mar 21 Jun 21 Sep 21 Dec 21 Mar 22 Jun 22 1.40 1.00 • Turkish CPI grew by 133% over preceding three-years and by 42% in 2022 - In accordance with IAS 29 Financial Reporting in Hyperinflationary Economies, DenizBank's results and financial position included within ENBD's consolidated Financial Statements are adjusted with effect from 1-Jan-22 Monetary Assets Net Monetary Position + Non-monetary Assets • Monetary Liabilities ● Equity Non-monetary Liabilities • 0.20 [(0.70)] 0.60 2.50 0.00 (1.90)] 0.60 Net Profit H1-21 Income Expenses Provisions P&L Tax & others Profit after Hyperinflation Net Profit Indexation Tax H1-22 Adj H1-22 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 21 bps from hyperinflation adjustment is excluded from capital adequacy computations EPS for first six months of 2022, excluding hyperinflation adjustment is 57% higher at AED 1.10 compared to 0.70 for H1 2021 IAS 29 is not applied to local accounts in H1-22 25#26Emirates NBD Thank you Investor Relations Emirates NBD Head Office | 4th Floor PO Box 777 | Dubai, UAE [email protected] Tel: +971 4 201 2614 F"CREATE OPPORTUNITIES TO PROSPER"