#1Emirates NBD Investor Presentation FY 2021 March 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. Financial & Operating Performance 3. Economic Environment 4. Divisional Performance#4Emirates NBD is a leading bank in the MENAT Region Key Highlights as of December 2021 *Market cap as at 27-Jan-22 USD 187 Bn Total Assets 13 Countries Emirates NBD at a Glance USD 125 Bn Gross Customer Loans 900 Branches USD 124 Bn Total Customer Deposits 17+ million Customers 4th Largest in GCC 56% Government of Dubai Shareholding 2nd Largest in UAE 40% FOL 12% foreign owners as at 27-Jan-2022 -20% Market Share in UAE (Assets, Loans, Deposits) USD 23.2 Bn Market Capitalization* 4#5Emirates NBD at a glance Emirates NBD's International Presence Market share in the UAE* ➤ Assets 18%; Loans 23%; Deposits 20% ➤ Largest financial institution in Dubai, 4th largest in the GCC ➤ Leading retail banking franchise with a branch network of 900 branches throughout the MENAT region with operations in 13 countries ➤ Leader in digital banking: largest digital lifestyle bank in the region ➤ 55.8% indirectly owned by the Government of Dubai through ICD ➤ Stable credit ratings Rated A3 / A+ by Moody's / Fitch London 8 Germany 17 Austria 68 Moscow 1 Turkey 686 Egypt *Emirates NBD as at 31-Dec-21 excluding DenizBank Bahrain 7 KSA 110 UAE Mumbai 1 Emirates NBD Emirates NBD Rep. Offices DenizBank Singapore 1 1 Jakarta Beijing 1 5#6Leader in Digital Banking and Innovation liv. Liv. is now over 580,000 customer strong in UAE & KSA, making it the largest digital lifestyle bank in the region. • Liv. has expanded its product offering to add 2 products: • Liv. USD account: Keeping investors in mind, Liv. USD account allows customers to save in USD with attractive interest rates and transfer funds globally to their investment platforms for free. • Liv. Cash: One-click overdraft facility for customers to meet their short-term needs. • Liv. has also launched Liv. Young, the region's first banking app and debit card for kids aged 8-18 years. Liv. Young helps kids build good money habits with features such as saving with goal accounts, tracking their spends, and earning by completing tasks/ chores assigned by parents. • Liv. Prime (the first lifestyle-banking subscription plan in the region) and Liv. Sure (General Insurance products) continue to be strong revenue generators for Liv. . Key Digital Developments • 90% of all face-to-face card payment transactions now 'contactless' through Mobile wallet • . • EXPO 2020 Dubai branch opened with a Future Banking space showcasing the Group's pioneering vision for the future of global banking Emirates NBD Voice Banking was extended to Amazon Alexa devices. The service was upgraded with the addition of more features and is available in both English & Arabic. • Launched Instant Quick Account Opening for UAE National Individuals and SMES The Emirates NBD Expo 2020 Prepaid Card was launched, a digital-first offering available to resident customers and visitors via a dedicated mobile app, Joyn Transactions via digital channels Eligible Retail Business customers digitally active Eligible Corporate clients opting for digital platform 96% 2020 84% 2020 90% 2020 98% 85% 91% 2021 2021 2021 60#7ESG Performance - Key Highlights Key developments Received our first CSR Label from the Dubai Chamber recognising ISO 26000 guidelines on social responsibility. R 2021 DUBAI CHAMBER CSR LABEL First ever female Director elected to Board in February 2022 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 Green & Social Banking choices ISO 14001:2015 certified for our environmental management system 12% reduction in electricity consumption • 22% reduction in water consumption • 6% reduction in Greenhouse Gas (GHG) emissions Philanthropy & Volunteering AED • • • • Contributed US$ 17.4m to local community in 2021 78 nationalities make up diverse workforce of FTEs 41% of our employees are Women 902 volunteer deployments via corporate volunteering programme EmCap raised US$ 19 bn of sustainable capital from loan and debt capital markets for clients in China, Egypt, India, Russia and UAE For more about ESG report, please visit: Raised first Sustainability-linked loan from a bank from 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 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 31 December 2021 Others 39% Capital Assets 5% Balanced asset composition % by segment as at 31 December 2021 GM&T 21% CI&B 44% Investment Corporation of Dubai 56% 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% at 27-Jan-2022 Recommendation Equity Analysts Coverage In AED Target Price Buy Hold Sell 13 1 16.5 Price at 26-Jan-2022 13.5 RBWM 10% EPS 31-Dec-2021 Islamic Banking 9% 1.38 8#9Emirates NBD is one of the largest banks in the GCC... Total Assets USD Bn, 31-Dec-2021 Total Loans USD Bn, 31-Dec-2021 QNB 298 QNB 215 بنك أبوظبي الأول FAB First Abu Dhabi Bank Total Deposits USD Bn, 31-Dec-2021 Total Income USD Mn, FY 2021 QNB 214 QNB 7,745 بنك أبوظبي الأول 272 SNB 135 FABT 167 First Abu Dhabi Bank 243 SNB Emirates NBD 125 SNB 7,582 مصرف الراجحي SNB 156 க 6,852 Al Rajhi Bank مصرف الراجحي Emirates NBD 187 & مصرف الراجحي 123 Al Rajhi Bank க 136 Al Rajhi Bank مصرف الراجحي Al Rajhi Bank 166 بنك أبوظبي التجاري ADCB 120 ينك أبوظبي الأول FABT First Abu Dhabi Bank بنك أبوظبي التجاري ADCB 69 Emirates NBD 124 115 بنك أبوظبي التجاري ADCB 72 Emirates NBD 6,482 بنك أبوظبي الأول FAB First Abu Dhabi Bank بنك أبوظبي التجاري ADCB 5,900 3,336 9#10...and one of the largest banks in the UAE Total Income USD Mn, FY 2021 Net Profit USD Mn, FY 2021 Total Loans USD Bn, 31-Dec-2021 Coverage Ratio & NPLs (%) 31-Dec-2021 CET-1 Ratio (%) 31-Dec-2021 NPL% بنك أبوظبي الأول Emirates NBD 6,482 FABT Emirates NBD 3,413 125 Emirates NBD 128 6.3 Emirates NBD 15.1 First Abu Dhabi Bank بنك أبوظبي الأول FAB First Abu Dhabi Bank بنك أبو ظبي التجاري ADCB بنك دبي الإسلامي Dubai Islamic Bank مصرف أبوظبي الإسلامي ADIB بنك أبوظبي الأول 5,900 Emirates NBD 2,532 FABT First Abu Dhabi Bank 3,336 بنك أبوظبي التجاري ADCB 3,210 بنك دبي الإسلامي Dubai Islamic Bank 1,602 مصرف أبوظبي الإسلامي ADIB 1,428 بنك أبو ظبي التجاري ADCB 1,199 بنك دبي الإسلامي Dubai Islamic Bank 634 بنك دبي التجاري 866 بنك دبي التجاري 395 Commercial Bank of Dubai Commercial Bank of Dubai مصرف أبوظبي الإسلامي ADIB المشرق mashreq 115 69 بنك أبوظبي الأول FAB First Abu Dhabi Bank بنك أبوظبي التجاري ADCB 53 بنك دبي الإسلامي Dubai Islamic Bank 25 24 مصرف أبو ظبي الإسلامي ADIB 98 4.0 بنك دبي التجاري 14.7 Commercial Bank of Dubai 93 5.4 72 6.8 مصرف أبوظبي الإسلامي ADIB بنك أبوظبي التجاري ADCB بنك أبوظبي الأول 67 8.9 FAB First Abu Dhabi Bank بنك دبي التجاري 63 بنك دبي الإسلامي 7.0 Dubai Islamic Bank Commercial Bank of Dubai 12.9 12.9 12.4 12.4 10#11Consistently profitable due to diversified and resilient business model 9.1% 9.3% 8.8% 10.5% 15.7% 19.7% 18.0% 18.8% 20.3% 16.5% 9.5% 12.8% 2.6 2010 Total Income '10-'21 CAGR: 9% Net Profit '10-'21 CAGR: 14% 4.7 4.1 4.2 4.0 2.7 2.3 1.9 2.0 0.6 2.7 2.8 3.2 LLL 0.7 0.7 0.9 3.9 LI 1.4 2011 2012 2013 2014 ■Total Income (USD Bn) 2015 ■Net Profit (USD Bn) 2016 2017 2018 6.5 6.3 6.1 3.9 2.5 1.9 2019 2020 2021 Return on Average Tangible Equity Excl. NI gain for 2019 11#12Emirates NBD delivers strong performance in 2021 on improving economic conditions Key Highlights AED Strong performance recovery trend with FY 2021 profit USD 2.5bn, up 34% Key Metrics & Guidance Net Profit USD 2.5bn +34% y-o-y CET 1 15.1% AED AED UAE economic activity picking up helped by Expo 2020 Continued strong underlying business momentum with record demand for retail financing International expansion continues with additional KSA branches, approval for further branches in India and significant contribution from DenizBank Diversified balance sheet and capital base remain a core strength of the Group NIM 2.53% Guidance 2021 / 22: 2.45-2.55% / 2.55-2.65% Cost to Income 33.5% Guidance 2021 / 22: Within 35% / within 35% NPL 6.3% Guidance 2021 / 22: mid 6% / mid 6% LCR 177.6% Loan Growth -5% Guidance 2021 / 22: Low-single digit / Low-single digit NPL Cover 127.5% COR Guidance 2021 / 22: 100-125 bps / 100-125 bps 12#13Financial results highlights FY 2021 Better / Income Statement (USD bn) FY 2021 FY 2020 (Worse) Net interest income 4.6 4.8 (3)% Non-funded income 1.9 1.6 21% Total income 6.5 6.3 3% Operating expenses (2.2) (2.1) (2)% Pre-impairment operating profit 4.3 4.2 3% Impairment allowances (1.6) (2.2) 26% Operating profit 2.7 2.0 34% • Taxation charge and others (0.2) (0.1) (38)% Net profit 2.5 Cost: income ratio (%) 33.5% Net interest margin (%) 2.53% 1.9 33.8% 2.65% 34% 0.3% (0.12)% Balance Sheet (USD bn) Total assets Loans 31-Dec-21 31-Dec-20 Inc / (Dec) 187.1 190.0 (2)% • 114.9 120.7 (5)% Deposits 124.2 126.3 (2)% CET-1 (%) 15.1% 15.0% 0.1% LCR (%) 177.6% 165.0% 12.6% NPL ratio (%) 6.3% 6.2% 0.1% • Highlights Income Expenses Risk Capital Liquidity Macro Divisional • Key Highlights Strong 2021 results a continuation of recovery with net profit up 34% y-o-y 38% of income from international operations Income momentum offsetting impact of low interest rates. Higher non-funded income from increased transaction activity and growth in FX & Derivative income Record CASA balances keeping funding costs stable Improved loan mix with record demand for retail financing Expenses up 2% as business recovers and investment for future growth Cl ratio improved in 2021 supported by positive income momentum - • Cost of risk of 124 bps within pre-pandemic range - Provisions substantially down 26% y-o-y NPL ratio steady at 6.3% Coverage of 127.5%, highest amongst regional peers Strong Retail and DenizBank loan growth in local currency terms ENBD loans stable in 2021; DenizBank's Turkish Lira net loans up 26% in 2021 Retail loans up USD 2bn in 2021 Offset by USD 1.2bn of deferral repayments and currency translation Group maintains strong Capital and Liquidity CET-1 of 15.1%, strongest amongst regional peers LCR of 177.6% reflects healthy liquidity position 13#14Financial results highlights Q4 2021 Highlights Income Expenses Risk Capital Liquidity Macro Divisional Better / Better / Income Statement (USD bn) Q4-21 Q4-20 Q3-21 (Worse) (Worse) Key Highlights Net interest income 1.2 1.1 7% 1.2 (3)% Non-funded income 0.6 0.2 146% 0.4 67% Total income 1.8 1.3 32% 1.6 13% • Net profit up 53% y-o-y with strong income momentum • Income up 32% y-o-y and 13% q-o-q on higher non-funded income Operating expenses (0.6) (0.6) (11)% (0.5) (16)% Pre-impairment operating profit 1.2 0.8 47% 1.0 12% - Increased transaction activity Growth in FX & Derivative income Impairment allowances (0.6) (0.4) (38)% (0.3) (97)% - Operating profit 0.6 0.4 58% 0.7 (23)% - Taxation charge and others (0.0) 0.0 (994)% (0.1) 72% . USD 0.1 bn gain relating to Dubai Bank Record CASA balances keeping funding costs stable Expenses well controlled with Q4-21 CI ratio up due to seasonality Net profit 0.5 0.4 53% 0.7 (20)% Cost: income ratio (%) 34.8% Net interest margin (%) 2.59% 41.5% 2.42% 6.7% 0.17% 34.0% (0.8)% - Higher staff cost due to retail incentives and investment for future growth - Other costs up due to seasonality, campaigns and IT investment 2.65% (0.06)% • Q4-21 cost of risk of 172 bps with provisions of USD 0.6bn Balance Sheet (USD bn) 31-Dec-21 31-Dec-20 Inc / (Dec) 30-Sep-21 Total assets Loans 187.1 190.0 (2)% 190.2 Inc/ (Dec) (2)% • Retail loan growth continued in Q4 2021 Group maintains strong Capital and Liquidity 114.9 120.7 (5)% 119.3 (4)% Deposits 124.2 126.3 (2)% 126.9 (2)% CET-1 (%) 15.1% LCR (%) 177.6% NPL ratio (%) 6.3% 15.0% 0.1% 165.0% 12.6% 157.2% 6.2% 0.1% 6.2% 16.1% (1.0)% 20.4% 0.1% 14#15Net interest income 2.82 2.89 Net Interest Margin (%) Quarterly NIM YTD NIM 2.65 2.65 2.59 2.47 2.51 2.46 2.42 2.45 2.53 2.44 2017 2018 2019 2020 Q1 21 Q2 21 Q3 21 Q4 21 NIM Drivers FY-21 vs FY-20 YTD (%) Highlights Income Expenses Risk Capital Liquidity Macro Divisional • Key Highlights FY 2021 NIM down 12 bps due to interest rate cuts in 2020 - Improved funding cost offset by reduced loan yields • Q4-21 NIM declined 6bps. - - Loan yields lower on competitive term loan pricing Deposit costs marginally higher on modest increase in short term rates Higher contribution from Treasury on efficient deployment of liquidity Lower DenizBank NIMS on higher funding costs 2022 guidance increased to 2.55-2.65% Balance sheet well positioned to benefit from rate rises. 2.65 2.65 2.56 2.53 (0.02) (0.03) 0.43 (0.55) 0.49 2.22 NIM Drivers Q4-21 vs Q3-21 (%) (0.06) 0.03 (0.02) 2.59 (0.01) FY 20 Loan Yield Deposit Treasury ENBD DenizBank FY 21 Q3 21 Cost & Other Ex-Deniz Loan Yield Deposit Cost Treasury & Other DenizBank Q4 21 15#16Loans and deposits trends Gross Loans by Type (USD Bn) -4% -3% 130 129 129 129 125 23 22 22 21 18 DenizBank 12 12 13 13 14 Retail 17 17 17 17 18 Islamic* 78 Corporate 77 78 77 76 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Deposits by Type (USD Bn) -2% 126 125 125 127 124 DenizBank Other 2 2 2 22 21 21 2 2 2 38 35 36 223 2 -2% Time Highlights Income Expenses Risk Capital Liquidity Macro Divisional Key Highlights • Gross loans declined 4% (USD 5.5bn) in 2021 due to currency depreciation, offsetting significant demand for retail financing - Retail financing grew USD 1.9bn during a record year for personal loans, mortgages and credit cards - Islamic Financing grew USD 0.8bn during the year Corporate loans down USD 2.2bn on USD 1.2bn of deferral support repayments - DenizBank's Turkish Lira gross loans up 31% in 2021 Deposit mix improved in 2021 with USD 10bn increase in CASA replacing USD 9bn FDs - CASA represents 61% of total Group deposits DenizBank's Turkish Lira deposits up 19% in 2021 Gross Loans by Sector (%) Other 4% Agric. 1% Manuf. 5% Trans & Services 5% Trade 7% Construction & Hotels 6% Net Loans by Geography (%) International 19% Sovereign 33% GCC 3% CASA 59 63 65 67 69 FI & Mgmt Cos 7% Real estate 11% Personal 21% Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 * Gross Islamic Financing Net of Deferred Income UAE 78% 16#17Non-funded income Highlights Income Expenses Risk Capital Liquidity Macro Divisional Key Highlights FY-21 fee and commission income up 15% y-o-y Higher transaction volumes due to increased activity Improved brokerage and asset management fee • FX and derivative income up q-o-q - - Increased FX client business Hedging and swaps relating to DenizBank • Investment securities income up due to gain on sale of securities Non-funded income (USD mn) FY-21 FY-20 Better / (Worse) • Fee and Commission income 1,762 1,531 15% Fee and Commission expense (718) (537) (34)% Net Fee and Commission Income 1,044 994 5% Other operating income 792 514 54% Gain/loss on trading securities 41 49 (16)% Total Non-funded income 1,877 1,557 21% Fee and Commission Income (USD mn) 481 14 437 60 25 361 62 12 54 22226 • Other includes USD 0.1 bn gain from Dubai Bank 418 31 52 Brokerage &AM 249 Trade finance 407 350 352 335 Fee income 295 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 159 Other Operating Income (USD mn) 375 250 FX & Derivative 103 47 23 599 65 Property & Other 52 117 1 54 42 45 27 -5 -2. -6. 8. Investment Sec. Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 17#18Operating expenses 41.5 Cost to Income Ratio (%) 35.3 34.0 34.8 30.3 33.8 32.6 33.1 33.5 Q4 20 Q1 21 Q2 21 CI Ratio (YTD) CI Ratio (QTD) Q3 21 Operating expenses trends (USD mn) +11% Guidance Q4 21 • +16% 618 557 532 508 516 Other Cost 170 139 112 116 107 49 IT & Commun. 42 40 41 41 64 67 65 65 Dep. & Amort. 62 309 289 304 315 334 Staff Cost Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Highlights Income Expenses Risk Capital Liquidity Macro Divisional Key Highlights YTD Cost to income ratio improved to 33.5% from 33.8% last year supported by positive income momentum Positive jaws as 3% Income growth outpaced 2% increase in costs Operating expenses up as business recovers - 2022 Cl guidance remains within 35% Q4-21 expenses up 11% y-o-y and 16% q-o-q - - Q4-21 CI ratio increased to 34.8% due to seasonality Higher staff cost due to retail incentives and investment for future growth Other costs up due to seasonality, campaigns and IT investment Operating expenses composition (%) Breakdown as at FY-21 Dep. & Amort. 12% Other 12% Staff 57% IT 5% Occupancy 3% Equip. & Supp. 2% Commun. 3% Service & Legal 4% Marketing 2% 18#19Credit quality Impaired loans and allowances 6.2 6.1 6.3 6.2 6.3 • 9.5 9.8 9.9 10.1 10.1 8.1 7.9 8.1 7.9 7.9 125.1 126.7 122.5 127.5 • 117.3 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Impaired Loans (USD Bn) * Impairment Allowances (USD Bn) NPL Ratio (%) Coverage ratio (%) Highlights Income Expenses Risk Capital Liquidity Macro Divisional Key Highlights • • NPL ratio increased by 0.1% to 6.3% in FY-21 Coverage ratio strengthened 10.2% to 127.5% during 2021 o S1 and S2 coverage broadly stable despite stage migrations in 2021 。 S3 coverage up at 91.1% on higher provisions 124 bps cost of risk back within pre-pandemic range down from 163 bps in 2020 The Bank has supported 131,023 customers with USD 2.9 billion of deferrals o USD 2.2 bn has been repaid, resulting in net support of USD 0.7 bn as at Q4-21 。 TESS zero cost funding repaid in full o Repayments demonstrate improving business sentiment ECL to Loan Coverage** Stagewise ECL (USD bn) Total Gross Loans Deferral Support and Repayments (USD bn) FY-21 USD 125bn 2.9 2.9 2.9 2.8 10.1 1.0% 9.5 1.1% 21.1% 1.0 Stage 1 22.2% 1.3 1.9 1.6 Stage 2 Stage 1 87% 2.5 2.3 2.3 88% 0.5 1.5 1.1 1.9 Stage 2 7% 2.2 2.2 Repayments FY-20 USD 175bn 6% 6% 85.7% 91.1% Stage 3 6% 6.7 7.2 Stage 3 1.8 1.4 1.3 1.0 0.7 0.7 Remaining Support FY-20 FY-21 FY-20 FY-21 *Includes purchase originated credit impaired loans of USD 0.3bn (Dec-20: USD 0.6bn) acquired at fair value / **Stage 3 coverage adjusted for POCI acquired at FV Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 19#20Capital adequacy Capital (USD billion) Highlights Income Expenses Risk Capital Liquidity Macro Divisional 22.2 1.3 • (0.9) 18.3 2.5 (0.2) 0.1 (1.5) 18.4 2.5 CET1 31- Dec-20 Profit Proposed Interest ECL Dividend on AT1 add-back OCI and Others CET1 T1 T2 31- Dec-21 Capital 31- Dec-21 Risk Weighted Assets (USD billion) Key Highlights CET-1 ratio improved 0.1% during 2021 as - USD 2.5bn of retained earnings offset - USD 0.9bn of proposed dividend USD 1.5bn impact on FV and currency translation reserve - RWAs broadly stable during the year • Tier 1 ratio and CAR 0.2% lower following AT1 management in 2021 • Capital ratios well above 11% / 12.5% / 14.5% CBUAE min. requirement TESS provides further 3% temporary relief until June-22 CET-1 at 14.6% excluding ECL regulatory add-back Capital Ratios % 121.5 120.9 123.3 122.7 121.5 19.0 19.2 18.5 18.7 18.3 DenizBank -1% T2% 1.1 34.6 33.3 33.1 1.1 1.1 1.1 32.8 30.1 1.1 2.3 2.0 AT1% 2.4 2.0 2.1 Operational Risk 8.5 8.5 8.5 8.5 8.4 3.3 2.7 3.5 3.0 2.6 Market Risk CET1% 15.0 15.6 15.6 16.1 15.1 Credit Risk 75.1 76.4 78.2 78.5 80.4 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 20#21Funding and liquidity Advances to Deposit and Liquidity Coverage Ratio (%) ADR % LCR % 180 100 165.0 165.1 158.8 177.6 157.2 160 96 140 92 95.6 95.0 95.7 94.0 120 92.5 88 88 100 84 ळ Q4 20 Q1 21 Q2 21 Q3 21 Q4 21 Composition of Liabilities and Debt Issued (%) Customer deposits 76% Highlights Income Expenses Risk Capital Liquidity Macro Divisional Key Highlights • LCR of 177.6% and ADR of 92.5% demonstrate healthy liquidity · Liquid assets of USD 19.3 billion cover 12% of total liabilities; 15% of deposits • USD 7.5bn issuance during the year, taking advantage of historically low cost of term funding • USD 3.4 bn debt maturing in 2022 comfortably within Group's capabilities Maturity Profile of Debt/ Sukuk Issued USD 18.2bn Banks 7% Others 6% 3.4 0.6 0.0 3: 3.3 2.8 2.6 0.1 2.4 0.1 2.0 0.1 1.7 1.7 3.3 2.8 2.3 1.9 Debt/Sukuk 0.9 11% 2022 2023 2024 2025 2026 - 2029 - - 2028 - 2035 Beyond 2036 DenizBank Club Deal Public & Private Placement *Includes cash and deposits with Central Banks, excludes interbank balances and liquid investment securities 21#22UAE economy rebounding with 5.7% growth expected in 2022 Highlights Income Expenses Risk Capital Liquidity Macro Divisional 8 % y/y 4 0 -4 3.4 2.4 1.2 UAE GDP growth -6.1 2.5 • 5.7 6.1 -8 2017 2018 2019 2020 2021e 2022f 2023f 50 % y/y 40 30 20 10 0 Dubai property prices growth -Villas Apartments Key Highlights The UAE economy enjoyed a strong finish to 2021, with Expo 2020 and increased tourism boosting domestic demand ENBD Research expects UAE GDP to grow by 5.7% and the non-oil economy to grow by 4.0% in 2022 • Dubai's average sale price for villas up 27% and apartments up 10% y/y in 2021 The UAE was a global leader in vaccination and one of the first economies to fully reopen UAE's Covid-19 response 5,000 300 Daily New COVID-19 Cases Vaccination Doses adminstered per 100 people 250 4,000 3,000 96% of population fully vaccinated 2,000 1,000 200 150 100 -10 50 -20 0 0 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Jan-20 Jun-20 Nov-20 Apr-21 Sep-21 Feb-22 Source: UAE Central Bank, Bloomberg, UAE Ministry of Health, Asteco 22#23Dubai: Positioning for future growth Key contributors to Dubai GDP (Jan-Sep 2021) Hospitality 4.3% % of total Other 15.1% ICT Trade 25.4% 4.3% Government 5.0% Construction 6.6% Financial Services 10.8% Manufacturing Real Estate Services 9.2% 9.7% Transport 9.6% 1200 in thousand tourists 1000 910 800 865 600 491 400 400 200 Top visitors by nationality 444 420 392 296 Highlights Income Expenses Risk Capital Liquidity Macro Divisional Key Highlights • ENBD Research expects Dubai's economy to grow by 4.0% in 2022 • Visitor numbers expected to grow from 7.3 million in 2021, towards 2019 level of 16.7 million • Hotel occupancy and RevPAR expected to continue to improve in 2022 • Dubai rapidly established itself as a leading hub for fintech start-ups in MENA • UAE Net Zero by 2050 strategic initiative provides exciting ESG opportunities Dubai occupancy rates and RevPAR 100 150 2020 2021 80 60 120 90 90 40 76.9 77.2 75.3 74.6 60 60 65.6 47.2 30 20 311 291 280 240 247 0 191 212 166 2016 0 India KSA Russia UK USA France Oman Pakistan Source: STR Global, Bloomberg, DTCM, Dubai Statistics 2017 2018 2019 2020 0 2021 USD Average hotel occupancy rates (LHS) -Average revenue per available room RevPAR (RHS) 23#24Divisional performance Operating Segment Metrics FY-21 Income (mn) 2,189 Retail Banking and Wealth Management Expenses (mn) 610 Loans (bn) 15 Deposits (bn) 49 Income (mn) 1,541 -4% Corporate and Institutional Banking Expenses (mn) 147 -11% Loans (bn) 72 -4% Deposits (bn) 44 -4% Income (mn) 653 Expenses (mn) 324 Emirates Islamic Loans (bn) 12 Deposits (bn) 13 Income (mn) Expenses (mn) (17) 43 Global Markets and Treasury Assets (bn) 40 Liabilities (bn) 6 -25% Income (mn) 1.916 Expenses (mn) 602 DenizBank Loans (bn) 17 -25% Deposits (bn) 19 -19% Increase / (Decrease) 4% 1% Highlights Income Expenses Risk Capital Liquidity Macro Divisional 9% 17% • 8% 4% 10% -7% 18% -3% -2% 15% Key Highlights Retail Banking and Wealth Management • • • • Record year for consumer loan origination, cards acquisitions and low-cost CASA Customer advances increased 17% and CASA grew USD 5.5bn (15%) during 2021 Retail Banking, Private Banking & Asset Mgmt all delivered double-digit NFI growth Close to 25% market share of UAE debit and credit card spends Revamped Mobile & Online platforms and Business Banking proposition Corporate and Institutional Banking • • • • • Record year in the capital markets and strong growth in International segment 8% growth in non-funded income and volumes were offset by falling interest rates Significant CASA growth helped improve liquidity mix and improve funding cost Strong new loan origination helped partially cover anticipated repayments in 2021 EmCap successfully led key ESG transactions from the region Emirates Islamic • Profit grew on higher non-funded income and lower impairment allowances ADR healthy at 90%; CASA represent 77% of total deposits Issued a USD 500mn 5-year Senior Sukuk Launched the Expo Mastercard Credit Card and Branch at Expo 2020 Dubai Global Markets and Treasury . NII up 61% y-o-y on increased income from hedging & banking book investments Group Funding helped issue USD 6.75bn of term debt Demonstrated readiness for global transition to new indices by issuing notes based on new reference rates and helping customers update documentation DenizBank 86% • . Net profit up 20% on higher non-funded income and lower impairments in 2021 • Income down 3% primarily due to lower net interest income on FX translation • Cost of risk improved to 343 bps in 2021 as DenizBank continues to boost coverage • Turkish Lira net loans and deposits up 26% and 19% in 2021 24#25DenizBank business overview Income Statement (USD Mn) FY-21 FY-20 Better/ (Worse) Net interest income 1,435 1,542 (7)% Non-funded income 482 433 11% • Total income 1,917 1,975 (3)% · Operating expenses (602) (617) 2% • Pre-impairment operating profit 1,314 1,358 (3)% Impairment allowances (739) (911) 19% • Operating profit 575 447 29% • Taxation charge Net profit (128) (75) (72)% 447 373 20% Cost: income ratio Net interest margin 31.2% 31.2% 0.0% 4.35% 4.47% (0.12)% Balance Sheet Metrics (USD bn) Assets Net Loans Deposits 35.6 29.6 22.1 23.1 16.6 18.7 Q4-20 Q4-21 All financial numbers post acquisition (1-Aug-19) include the fair value adjustments, unless otherwise stated. Highlights Income Expenses Risk Capital Liquidity Macro Divisional Key Highlights Net profit grew 20% to USD 447m in 2021 despite volatility Net interest income lower y-o-y mainly due to currency translation Non-funded income higher y-o-y as the hedging impact offset the currency translation 2021 cost of risk improved to 343 bps compared to 383 bps in 2020 Q4-21 cost of risk higher at 703 bps as DenizBank continued to build coverage given the current volatility Turkish Lira total assets grew 25% in 2021 DenizBank is the fifth largest private bank in Turkey with wide presence through a network of 712 branches servicing over 15m customers through 14,000+ employees NPL and AD Ratio (As per local reporting guidelines) NPL Ratio (Unadjusted) AD Ratio (Unadjusted) 7.0 6.6 98.8 91.2 Q4-20 FY-21 Q4-20 FY-21 25#26Emirates NBD Thank you Investor Relations Emirates NBD Head Office | 4th Floor PO Box 777 | Dubai, UAE [email protected] Tel: +971 4 609 3046 F"CREATE OPPORTUNITIES TO PROSPER"