#1Emirates NBD 60 years together Investor Presentation Emirates NED COLLL -------- February 2024#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 Region's most profitable bank US$ 5.9bn in FY'23 4th Largest Bank in GCC By Assets 2nd Largest Bank in UAE By Assets AED 18.40 +42% in 2023 Share Price As of 25 Jan 2024 AED 115bn Market Cap As of 25 Jan 2024 AED 43.0bn Total Income AED 21.5bn Profit 3.95% Net Interest Margin AED 863bn Total Assets AED 585bn Total Deposits AED 481bn Total Gross Loans 17.6% Capital Ratio 41% Shareholding by Government of Dubai 40% Foreign Ownership Limit 14% Foreign Ownership As of 25 Jan 2024 12 850 Countries Branches 9.4 million Active 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 850 branches throughout the MENAT region with operations in 12 countries 3. Leader in digital banking: largest digital lifestyle bank in the region 639 Turkey 11 Austria Emirates NBD's International Presence 3 Germany 1 Bahrain 1 London 4. 41% indirectly owned by the Government of Dubai through ICD 67 Egypt 15 KSA 109 UAE Stable Credit Ratings 3 India त 1 Singapore Short-term Long-term Outlook 1 Jakarta Moody's P-1 A2 Stable 1 Beijing Fitch F1 A+ Stable CI A1 A+ Stable Emirates NBD Emirates NBD Rep. Offices DenizBank Emirates NBD 60 60 years together 5#6Stable Shareholder Base and Diversified Business Model Split of Ownership - Anchored by the Government of Dubai Ownership structure as of January 2024 Others 39% Capital Assets 5% Dividend per share grew nearly fivefold since 2013 Dividend per share CAGR of 17% since 2013 Key Highlights • A flagship bank for the Government of Dubai and the UAE Emirates NBD 60 years together 1601 Investment Corporation of Dubai 41% DH 7 LLC 15% . • . Strong and supportive shareholder base from the Government of Dubai via Investment Corporation of Dubai International presence in Asia, Europe and MENAT across 12 countries. DenizBank acquisition further enhanced geographic profile Well diversified and balanced asset composition between corporate, consumer and Islamic banking Foreign ownership at 14% on 25th January 2024 with FOL limit increased to maximum permissible 40% in July 2020 0.60 0.50 0.40 0.40 0.40 0.40 0.40 0.40 0.35 0.25 1.20 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Equity Analysts Coverage Recommendation Average Target Price Price as on 25th January 2024 FY'23 EPS All figures in AED Buy Hold Sell 13 2 20.94 18.40 3.32 6#7Emirates NBD 60 years together 160 Overview liv is Emirates NBD's digital-only bank with over 450K customers. It is focused on fulfilling the unique financial needs of Generation Now, comprising Gen Ys and Gen Zs through innovative offerings and a superior digital experience. Key products: 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 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 mastercord DEBIT 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 Migrated UAE's retail customer base of 1M+to mobile banking superapp ENBD X, which has 150+ services (including 100+ STPs) Launched a digital wealth platform, embedded in ENBD X, enabling customers to invest in >11K global and local equities and ETFs across 21 global and local stock exchanges as well as 230+ mutual funds by top asset managers Enabled instant journeys across accounts, credit cards, personal loans and fixed deposits 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 and CDM journeys by up to 2.6x through journey optimizations Revamped WhatsApp banking application, activating 15 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#8Building the Bank of The Future Where we stand ... Transformed from a local bank to a regional powerhouse operating 850 branches across 12 countries ( Emirates NBD 60 Six Strategic Pillars ENBD X DDDD 因 Leading Digital Banking App 100% Cloud Native Solid Balance Sheet ESG Solutions Provider 39% of income from International Credit Rating Upgrades Emirates NBD 60 years together 1601 Where we are heading... Additional innovative products and 1 Deliver an excellent customer experience services on ENBD X, providing the premier one-stop banking & wealth management solution Drive core business Focus on future potential Drive international diversification Build market leading infrastructure ago gl Develop a dynamic organisation ÅÅÅÅÅ Develop competitive niches throughout our international network Grow presence and market share in Abu Dhabi. Assess organic and inorganic growth opportunities within our footprint Offer sustainable solutions to support the transition to a net-zero emissions economy Fortify the resilience and security of our technology infrastructure Developing the next generation of Emirati leadership 8 00#9Emirates 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 Assets In USD bn FY'2023 Emirates NBD 160 11,724 Emirates NBD 160 5,864 QNB 10,571 QNB 338 بنك أبوظبي الأول SNB 5,336 FAB First Abu Dhabi Bank بنك أبوظبي الأول SNB 9,224 FAB 4,496 First Abu Dhabi Bank بنك أبوظبي الأول FAB First Abu Dhabi Bank مصرف الراجحي 318 Total Deposits In USD bn QNB 235 بنك أبوظبي الأول FABT First Abu Dhabi Bank 207 SNB 274 Emirates NBD 60 1601 159 مصرف الراجحي 7,480 4,432 Emirates NBD Al Rajhi Bank 1601 235 SNB 157 مصرف الراجحي QNB 4,304 Q مصرف الراجحي Al Rajhi Bank 215 க Al Rajhi Bank 153 Al Rajhi Bank 7,342 بنك أبو ظبي التجاري ADCB 4,593 بنك أبوظبي التجاري ADCB 2,234 بنك أبو ظبي التجاري ADCB 154 بنك أبوظبي التجاري ADCB 99 96 Emirates NBD 60 years together 1601 9#10... and the most profitable bank in the UAE Total Income In AED mn Net Profit In AED mn FY'2023 Total Gross Loans In AED bn Emirates NBD 43,028 بنك أبوظبي الأول FABT First Abu Dhabi Bank بنك دبي الإسلامي Dubai Islamic Bank بنك أبو ظبي التجاري ADCB المشرق mashreq مصرف أبو ظبي الإسلامي ADIB 27,471 20,142 16,866 Emirates NBD 21,521 بنك أبوظبي الأول FABT 505 First Abu Dhabi Bank بنك أبوظبي الأول FABT First Abu Dhabi Bank المشرق mashreq بنك أبوظبي التجاري ADCB بنك دبي الإسلامي 10,803 Dubai Islamic Bank 9,249 مصرف أبوظبي الإسلامي ADIB Coverage Ratio & NPLs (%) As of 31 Dec 2023 Emirates NBD 60 years together 1601 CET-1 Ratio (%) NPL% As of 31 Dec 2023 المشرق 248 1.3 Emirates NBD 14.9 mashreq بنك أبوظبي الأول 16,510 Emirates NBD 1601 481 Emirates NBD 60 163 4.6 FAB 13.8 First Abu Dhabi Bank 8,589 بنك أبوظبي التجاري ADCB 8,206 بنك دبي الإسلامي Dubai Islamic Bank 7,010 5,251 مصرف أبوظبي الإسلامي ADIB المشرق mashreq 309 208 بنك أبو ظبي التجاري ADCB بنك أبوظبي الأول FAB First Abu Dhabi Bank بنك دبي الإسلامي 120 Dubai Islamic Bank 116 مصرف أبوظبي الإسلامي ADIB 103 3.7 95 3.9 المشرق mashreq بنك أبو ظبي التجاري ADCB 93 5.4 بنك دبي الإسلامي Dubai Islamic Bank 74 6.1 مصرف أبوظبي الإسلامي ADIB 13.7 12.9 12.8 12.2 10#11Economic Environment Emirates NBD#12Non-oil GDP growth of 4.0% expected in 2024 UAE GDP Growth 1.1 4.4 7.9 4.0 3.6 3.3 -5.0 2019 2020 2021 2022 2023e 2024f 2025f Key contributors of Dubai GDP - Q1-Q3 2023, % Other Trade Transport Financial Services Manufacturing Real Estate Services ICT Hospitality 3 LO 5 8 00 8 00 11 26 25 13 Emirates NBD 60 years together 1601 Key Highlights The Dubai PMI rose to a 16-month high of 57.7 in December 2023, indicating a strong end to the year for the private sector. Record international visitors to Dubai at 17.15 mn in 2023, up 19% y/y and 2.5% higher than pre-pandemic levels. Dubai GDP grew by 3.3% y/y in the first nine months of 2023. We estimate overall 2023 GDP growth at around 3.5-4.0% for Dubai. Q3 saw a new record in the number and total value of transactions in the Dubai real estate market. Dubai private school enrollments (in thousand pupils) 12% 212 242 231 252 365 326 288 289 260 267 276 275 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16 III Sep-17 Sep-18 Sep-19 Sep-20 Sep-21 Sep-22 Sep-23 12#13Dubai: Positioning for future growth Dubai property prices growth 30 % y/y sales prices GOGERN 25 -10 -15 Jan-15 Jul-15 Jan-16 Jul-16 Dubai Tourists (in millions) 15.92 2018 16.73 2019 Real estate transactions Existing properties ■ Off plan Dubai apartments -Dubai villas 40,000 35,000 30,000 25,000 20,000 15,000 10,000 Jan-17 Jul-17 Jan-18 Jul-18 Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 5,000 Jan-23 Jul-23 0 7.28 5.51 2020 Source: UAE Central Bank, Bloomberg, UAE Ministry of Health, Asteco Emirates NBD 60 years together 1601 Q1 2019 Q3 2019 Q1 2020 Q3 2020 Q1 2021 Q3 2021 Q1 2022 Q3 2022 Q1 2023 Q3 2023 Dubai occupancy rates and RevPAR 17.15 100 14.36 80 60 40 20 Occupancy % lhs -RevPAR USD rhs 250 200 150 100 50 0 0 2021 2022 2023 Jan-22 May-22 Sep-22 Jan-23 May-23 Sep-23 13#14Financial & Operating Performance Emirates NBD#15Executive Summary FY 23 Results AED Record profit of AED 21.5 bn in 2023 on higher income & strong AED recoveries 100% increase in proposed dividend to 120 fils Deposits grew 16% by AED 82 bn, including AED 30 bn CASA growth Delivering innovative ESG transitioning solutions to customers and issued largest ever green bond from a regional bank Key Metrics and Guidance Profit Income 品 Highest ever income on strong loan & deposit mix AED 21.5 bn AED 43.0 bn coupled with healthy trend in fee & commission in 2023 +65% +32% NIM 3.95% Guidance 2023: 3.8-4.0% 2024: 3.8-4.0% CET 1 AED Record retail financing and AED 70 billion of new corporate lending LCR Cost to Income 210% 14.9% ($) Solid balance sheet with healthy capital, liquidity and credit quality and strong profit reflecting core strengths of the Group 27.2% Guidance 2023: 33% 2024: 33% NPL Cover 163% NPL ratio 4.6% Guidance 2023: <6% 2024: 4-5% Cost of Risk 71 bp Guidance 2023: 50-70 bp 2024: ~50-70 bp Loan Growth 5% (Net loan growth 7%) Guidance 2023: high-single digit 2024: mid-single digit 15#16Consistently strong returns on equity Return on Average Tangible Equity (excluding 2019 NI gain) 11% 16% 20% 18% 19% 20% Emirates NBD 60 years together 1601 17% 10% 13% 17% 24% Total Income Net Profit CAGR (2013-2023): 14% CAGR (2013-2023): 21% 23.2 23.8 22.4 17.4 15.2 14.4 14.7 15.4 14.5 11.9 L 10.0 8.3 7.1 7.2 5.1 3.3 32.5 13.0 9.3 7.0 43.0 21.5 2013 2014 2015 2016 2017 ■Total Income (AED Bn) 2018 2019 2020 2021 2022 2023 ■Net Profit (AED Bn) * 2019 includes gain on disposal of NI AED 4.4 bn 16#17AED 21.5 bn record profit rises 65% y-o-y on strong diversified income growth and healthy recoveries Income Statement (All figures are in AED bn) Emirates NBD 60 years together 1601 FY'23 FY'22 %A YOY Q4-23 %A YOY %A QOQ Key Highlights Net interest income 30.1 23.2 30% 7.8 2% Non-funded income 12.9 9.3 39% 2.5 18% Total income 43.0 32.5 32% 10.3 5% Operating expenses (11.7) (9.3) 26% (3.3) 17% (31)% (10)% 15% Operating profit 31.3 23.3 35% 7.0 (18)% before impairment Impairment allowances (3.4) (5.2) (33)% (1.9) 1% 252% Profit before tax & others 27.9 18.1 54% 5.0 (37)% Hyperinflation adjustment (4.2) (3.1) 37% (1.1) 55% Tax (2.1) (2.0) 9% 0.1 (117)% Profit 21.5 13.0 65% 4.0 3% (41)% (108)% (23)% Cost: income ratio 27.2% 28.5% (1.3)% 32.4% 3.3% NIM 3.95% 3.43% 52 bps 3.81% (59) bps Balance Sheet 31-Dec-23 31-Dec-22 %A YOY 30-Sep-23 %A QOQ Total Assets 863 742 16% 836 3% Total Gross Loans 481 456 5% 494 (3)% • Deposits 585 503 16% 570 3% CET-1 14.9% 15.4% (0.5)% 16.9% (2.0)% LCR 210% 182% 28% 190% 20% 7.1% (27) bps Group profit up 65% on strong diversified income growth and healthy recoveries - ENBD income higher from asset growth, improving loan portfolio and stable funding mix, increased margins and higher transaction volumes DenizBank income higher from loan growth, hedges & swaps and increased customer transaction volumes, offsetting higher funding costs from rising interest rates NIMS within guidance and 3.8-4.0% guidance range maintained for 2024 NPLs improved to 4.6% on strong recoveries, writebacks and write-offs in a healthy operating environment 16% asset growth to AED 863 bn AED 30 bn CASA growth as Total Deposits grew AED 82 bn Retail lending continuing strong growth momentum, and Corporate advancing AED 70 billion of new lending AED 1.6 bn profit contribution from DenizBank despite challenging operating environment NPL ratio 4.6% 6.0% (1.4)% 5.5% (0.9)% Rounding differences may appear throughout the presentation 17#18NIMs: optimising low cost of funds Net Interest Margin (%) -o-Quarterly NIM YTD NIM 4.40 4.05 3.96 4.08 3.95 4.05 4.00 3.87 3.81 3.43 Fed Funds Upper Bound 5.50% 2.89 2.65 2.53 1.75% 0.25% 0.25% 4.50% 5.00% 5.25% 5.50% 2019 2020 2021 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 • Key Highlights Emirates NBD 60 years together 1601 FY23 NIM up 52 bps y-o-y due to improved loan mix & favourable low-cost deposit base and higher interest rates Q4-23 NIM down 27 bps q-o-q on higher funding costs at ENBD and DenizBank from interest rate increases 2024 NIM guidance maintained at 3.8-4.0% over market uncertainty in U.S. interest rate outlook, compensating impact from deposit mix and potential upside from DenizBank NIMS NIM drivers FY'23 vs FY'22 (%) 3.43 2.59 (1.04) (0.54) (0.49) 3.95 NIM drivers Q4-23 vs Q3-23 (%) 0.11 4.08 3.81 (0.23) (0.15) FY'22 Loan Yield Deposit Cost Treasury & Other DenizBank FY'23 Q3-23 Loan Yield Deposit Cost Treasury DenizBank Q4-23 & Other 18#19Strong client flows driving non-funded income growth Non-funded income FY'23 FY'22 %A YOY Q4-23 %A QOQ Key Highlights (All figures are in AED m) • Fee and Commission income 8,959 7,004 28% 2,561 37% Fee and Commission expense (4,086) (2,923) 40% (1,200) 41% Net Fee and Commission Income 4,873 4,081 19% 1,361 33% Other operating income 7,595 5,152 47% 986 (5)% Gain/loss on trading securities 480 52 823% 149 170% Total Non-funded income 12,948 9,285 39% 2,496 18% Emirates NBD 60 years together 1601 Healthy quarterly trend in fee and commission income from increased local & international retail card business at both ENBD and DenizBank, Trade Finance product growth, and increase in treasury volumes and wealth management deals in ENBD Q4 Fee income up 28% y-o-y on higher retail card spend volumes at ENBD and DenizBank, in addition to IPO transactions Other operating income increased 47% y-o-y due to an increased volume of retail customer FX remittance, additional corporate hedging and lower swap funding costs in Turkey Fee and Commission Income (AED m) Other Operating Income 2,561 (AED m) 2,394 82 2,016 1,993 78 277 261 1,870 68 69 73 267 271 228 2,039 2,394 23 284 2,174 91 287 328 311 1,041 2,218 85 986 2,038 2,087 49 38 1,569 1,681 1,653 1,755 287 1,441 907 661 Q4-22 Q1-23 Fee Income Q2-23 ■Trade Finance Q3-23 Q4-23 Q4-22 Brokerage and AM Fees Q1-23 ■FX & Derivative Q2-23 Property & Others Q3-23 Investment Securities Q4-23 19#20Business loan and deposit growth momentum continues Gross Loans by Type (AED bn) 5% 456 470 479 494 481 69 73 67 67 74 95 101 107 110 114 DenizBank ■Retail 113 116 112 111 81 Sovereign ■Corporate 179 180 193 206 212 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Key Highlights . Gross lending up 5% in 2023 on very strong underlying growth - Retail lending up 19% with healthy demand across all products Emirates NBD 60 years together - Corporate lending up 18% on strong origination throughout the region in Manufacturing, Trade, Transport, Communication and Conglomerates, more than offsetting Sovereign repayments - DenizBank's TL gross loans up 63%. Gross loans up 5% after FX Deposit franchise is a proven key strength of ENBD with AED 82 bn growth in 2023 including an impressive AED 30bn increase in CASA - CASA up 10%, limited net migration - CASA represents 60% of total Group deposits (54% excluding Escrow accounts) - DenizBank's TL deposits up 77%. Deposits up 11% after FX 1601 Deposits by Type (AED bn) 16% Gross Loans by Sector (%) Personal 27% Sovereign 17% 556 570 585 538 FI & Mgmt Cos 13% 503 80 86 91 89 DenizBank 82 139 146 170 133 128 ■Time ■ CASA 293 316 336 338 323 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Net Loans by Geography (%) UAE 75% Transport & Services 12% Real Estate 9% Trade 7% Manufacturing 6% Construction & Hotels 4% Other 3% Agriculture 1% International 21% GCC 4% 20#21Credit quality improves significantly Impaired loans and allowances 6.0 5.6 5.6 5.5 4.6 39.4 39.8 39.3 39.2 Key Highlights Emirates NBD 60 years together 1601 NPL ratio improved by 1.4% to 4.6% in 2023 on strong writebacks, recoveries and write-offs 27.3 35.8 . NPL guidance revised to 4-5% 26.2 26.8 27.0 163 • 22.0 152 147 145 145 • 71 bps Cost of Risk in 2023 and 2024 CoR guidance maintained at 50-70bp Stage 1, 2 and 3 coverage boosted in 2023 Coverage ratio remained healthy at 163% in 2023 Q4-22 Q1-23 Impaired Loans (AED Bn) Coverage Ratio (%) 02-23 Q3-23 Coverage by Stage Q4-23 Impairment Allowances (AED Bn) NPL Ratio (%) Stagewise ECL (AED bn) Total Gross Loans FY-22 | AED 456 bn FY-23 | AED 481 bn Stage 1 90.1% Stage 2 5.3% Stage 3 4.6% 1.4% 39.4 1.1% 26.8% Stage 1 87.7% 35.8 4.8 29.6% ■Stage 1 Stage 2 6.4% 6.3 7.8 Stage 3 6.0% ■Stage 2 7.6 98.8% 99.5% ■Stage 3 26.8 21.9 FY'22 FY'23 FY'22 FY'23 21#22Costs firmly controlled with focus on future growth Cost to Income Ratio (%) 33% 29.1% Key Highlights 32:4% • 28.5% 26.0% 25.3% 25.5% 27.2% 25.6% 25.3% 25.3% • • • Emirates NBD 60 years together 1601 Cost to Income ratio at 27.2% for 2023, comfortably within guidance with continued acceleration of investment for growth supported by income Q4-23 Cost to Income ratio of 32.4% increased from Q3 due to lower quarterly income and higher other costs Other Costs increased in Q4 due to higher marketing costs including COP28 sponsorship and seasonal events • IT and Communication costs increased on continued investment to deliver market leading technology solutions Cost to Income ratio guidance is within long-term 33% range • Q4-22 Q1-23 Q2-23 CI Ratio (YTD) CI Ratio (QTD) Q3-23 Upper Guidance range Q4-23 Operating expenses trends (AED m) 17% Operating expenses composition (%) Breakdown as of FY-23 3,332 2,858 2,817 2,896 2,642 1,012 Other Expenses 19% 601 857 794 620 Staff 54% 268 309 Other Cost 219 219 211 217 219 IT & Commun. 268 236 178 Dep. & Amort. ■Staff Cost 1,514 1,567 1,634 1,810 1,792 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Marketing & Communication 9% IT, Equipment & Supplies 8% Depreciation & Amortisation 7% Service & Legal 4% 22#23Funding & liquidity remains very healthy Advances to Deposit and Liquidity Coverage Ratio (%) Key Highlights 100 ADR % LCR % 217 95 187 . 210 220 190 90 182 180 85 80 140 • 83 75 80 79 80 76 70 100 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Composition of Liabilities and Debt Issued (%) Customer Deposits 78% Emirates NBD 60 years together 1601 LCR of 210% and ADR of 76% demonstrate healthy liquidity Liquid assets* of AED 96 billion cover 13% of total liabilities, 16% of deposits AED 22 bn of term debt issued in 2023 Modest EMTN maturities in 2024 with Club Deal relationship lending the largest component ENBD issued largest ever green bond by regional bank, underlining ESG commitment DenizBank upsizes syndicated loan rollover in Q4 and issues Sustainable Finance Framework Maturity Profile of AED 70.8 bn Term Debt/Sukuk/Syndicated Loans 23.5 0.6 19.3 5.5 Debt/Sukuk 9% 12.9 0.8 3.3 10.5 0.6 Others 8% 6.4 12.1 4.7 Banks 5% 9.8 0.7 4.1 4.0 2024 2025 2026 2027 * Includes cash and deposits with Central Banks, excludes interbank balances and liquid investment securities 22.9 Beyond 2027 ENBD EMTNS ENBD Club Deal DenizBank EMTNS DenizBank Syndicated Loans 23#24Total capital ratio strong at 17.6% Capital (AED bn) 76.6 19.1 6.4 102.7 • 9.1 (0.5) (0.4) 87.2 • (7.6) on AT1 ECL add-back Dividends CET1 31-Dec-23 T1 T2 12 CET1 Net Earnings Interest 31-Dec-22 Risk Weighted Assets (AED bn) 17% Capital 31-Dec-23 Key Highlights Emirates NBD 60 years together 1601 14.9% CET-1 ratio slightly lower y-o-y on significant increase in proposed dividend and 17% increase in RWAs Credit RWA increase from strong Retail and Corporate loan growth • DenizBank RWAs increase due to loan growth and increased reserve requirements • Operational risk RWA increase a function of higher 3-year average income and increased transaction volumes Capital ratios well above 11% / 12.5% / 14.5% CBUAE minimum requirements IAS 29 hyperinflation adjustment is capital neutral Capital Ratios (%) 19.5 19.7 18.3 18.7 584 1.1 1.1 17.6 533 499 515 1.1 1.1 508 1.8 1.7 1.8 1.8 155 1.1 1.6 138 132 139 129 43 33 11 32 33 33 33 13 12 12 12 15.4 15.8 16.6 16.9 14.9 323 331 334 351 374 Q4-22 ■Credit Risk Q1-23 ■Market Risk Q2-23 Q3-23 Operational Risk Q4-23 Q4-22 Q1-23 DenizBank Q2-23 CET1% AT1% T2% Q3-23 Q4-23 24#25Divisional performance Operating Segment Metrics FY'23 FY'22 %A YOY Income (mn) 16,211 12,401 31% Expense (mn) 4,319 3,498 23% Retail Banking and Wealth Management Profit (mn) 8,010 7,493 7% Loans (bn) 114 95 19% Deposits (bn) 293 258 13% Income (mn) 7,705 6,213 24% Expense (mn) 754 674 12% Corporate and Institutional Banking Profit (mn) 7,148 3,753 90% Loans (bn) 293 292 0% Deposits (bn) 201 163 23% Income (mn) 3,738 1,961 91% Global Markets and Expense (mn) 217 185 17% Treasury Profit (mn) 3,366 1,676 > 100% Income (mn) 11,283 10,562 7% Expense (mn) 3,663 2,448 50% DenizBank Profit (mn) 1,569 1,586 (1)% Loans (bn) 74 69 7% Deposits (bn) 91 82 11% Emirates NBD 60 years together 1601 Key Highlights Retail Banking and Wealth Management (RBWM) had a remarkable 2023 with highest ever annual revenue, strongest ever loan acquisition and substantial balance sheet growth Lending up by record AED 18bn and Deposits grew by AED 35bn with 77% CASA: Deposit ratio 33% market share of UAE Credit Card spend as card spend grew 25% y-o-y 'ENBD X' & 'EI +' mobile banking app successfully rolled out in the UAE, using latest technology, security and user experience trends, offering market-leading products and services Digital wealth platform expanded, giving access to 11,000 global equities, elevating ENBD X as a one-stop solution for everyday banking and wealth management AUMS grew by an impressive 40%, reflecting Emirates NBD's full service platform Corporate and Institutional Banking capitalised on its strategic partnership with major Government entities and Corporates by enhancing digitised service platforms Profitability almost doubled y-o-y on higher margins due to rising interest rates, growth in lending, higher fee income and strong recoveries Corporate lending (ex. Sovereign) up 18%, driven by AED 70bn of new lending throughout region, on strong origination in Manufacturing, Trade, Transport, Comm. and conglomerates Significant CASA growth helped efficiently manage cost of funding Record year for EmCap, raising $79bn for regional & international clients across 134 deals ESG-Linked Supply Chain Finance Program launched in collaboration with major Corporates Paperless cash solutions for Corporate customers Global Markets and Treasury delivered outstanding performance, with profit doubling to AED 3.4bn, driven by favourable Balance Sheet positioning and higher investment income Trading desk reported higher profits with FX trading posting 64% growth Sales delivered strong growth, driven by Structured products and FX Leading primary dealer in Dirham sovereign market; first bank to issue Dirham bond and Sukuk Product offering enhanced with real-time FX quotes, Carbon Trading and fractional bonds DenizBank maintained profit at AED 1.6 bn, providing fresh funding to economy, growing balance sheet 19% to AED 147 bn 25#26ESG Developments Emirates NBD#27Emirates NBD Principal Banking Partner at COP28 Delivering ESG Solutions for a greener future EUROMONEY AWARDS FOR EXCELLENCE 2023. Recognised as Best Bank for ESG in the UAE at the Euromoney Excellence Awards 2023 +Q COP28 UAE Principal Banking Partner Emirates NBD's COP 28 program Carbon Trading introduced CO2 Supporting clients access sustainable finance as Emirates NBD becomes 1st UAE ♫ bank to offer carbon emission offsetting solution to customers Published Sustainable Sustainable Finance Framework allowing green and sustainability-linked bond issuance Net-Zero Goals commitment by signing UAE Climate-Responsible Companies Pledge Expanding ESG awareness ☐ Strong Ø B Strong regional Green Bond origination credentials, helping C raise US$ 11 billion through Green Bond issues in 2023 5% Scope 2 reduction in emissions from 2022-23 84% reduction in paper usage from 2020-22 Committed to supporting gender equality by signing UAE Gender Balance Pledge 18% Female Leadership in 2023, up from 15% in 2022 Leading on disclosures and transparency Sharing ESG best practice and developing partnerships Expanding sustainable finance product suite P 00 Emirates NBD issued US$ 750 million green-bond, the largest ever from a regional bank ESG-Linked Supply Chain Finance Program pioneered in partnership with Emirates Global Aluminium Deniz Ventures makes Innovation Fund investment in Green FinTech start-up Erguvan 27#28Examples of ENBD's Existing Eligible Green and Social Loans Solar Park Construction Large concentrated solar park in UAE Circular manufacturing unit Circular manufacturing unit which uses 100% waste paper/cardboard as raw material to produce packaging cartons & related products Green hydrogen plant Taxi fleet in Dubai Large green hydrogen plant Financing of zero-emission vehicle taxi fleet in Dubai * In line with UAE's social welfare programme classifies citizens / families as low-income when total household income is less than AED 25,000 per month 66389 اشون SOBHA Agricultural water treatment plant Large agricultural waste water plant in Egypt Green and Social housing Financing of Green commercial and residential real estate as well as Social housing for low-income individuals 28#29Emirates NBD Sustainability Strategy Emirates NBD commits to both regional and international sustainability development goals which enhances the overall agenda for sustainable business strategy and management approach. Sustainability Approach ▪ Emirates NBD's sustainability strategy takes direction from the United Nations SDGs, the UAE's Vision 2030, and the United Nations Environmental Programme Dubai Declaration for Sustainable Finance ■ We began formally reporting on our ESG efforts in 2016 with the publication of our first Sustainability Report. ▪ Emirates NBD is committed to UAE's Net Zero 2050 target. Sustainable Finance & Responsible Banking ▪ Emirates NBD exposure to 'hard to abate' sectors remains very minimal. Emirates NBD Loan Book Sovereign 25% * Personal Real Estate Services Others 25% 11% 11% 28% Sustainability Governance Group Executive Committee [Group Head of ESG member] Board of Directors Board Nomination and Risk Committee – ESG ESG integration across Emirates NBD CIB Risk Strategy ▪ Emirates NBD also caters to the local customer base by offering Sharia'h compliant financing solutions. ▪ We have committed to playing an important role in growing the Micro, Small and Medium Enterprises (MSME) economy in the UAE. RBWM Compliance Corporate Affairs GM&T Legal Internal Audit Emirates NBD is a regional leader in arranging ESG issuances across conventional and Sukuk format. Subsidiaries Finance Human Resources 29 *Gross Loan by sector - FY2022 annual report#30Environmental, Social, and Governance Commitment ESG is embedded into the culture, operations and strategy of Emirates NBD. Our ESG commitment are integrated to all our business divisions and across all our subsidiaries, with qualitative and qualitative targets as highlighted below. Environmental Commitment to reduce carbon emissions Scope 12 emissions by 30% by 2030 and reduce of water consumption by 5% per staff member. • Scope 2 emissions fell by 12.6% in 2022 compared to 2020 while the Group's total emissions remained relatively unchanged. "Go Paperless programme" launched in 2020. The paper use reduced from 15,737 KG in 2020 to 2,617 KG in 2022. . Social Emirates NBD's strategy aligns with the UN SDGs through initiatives such as developing the SME ecosystem and economic output in the UAE. • Dedicated Diversity and Inclusion department in place since 2021. • 41% female in our employee base. Commitment to have 25% women in senior leadership (WIL) roles by 2027. National Leadership Program launched in 2014 to develop future Emirati leaders. . . Governance Strategic ESG matters are the responsibility of the Emirates NBD Board of Directors and the Board Nomination. • The Board of Directors monitors how evolving global standards are selected and incorporated into the ESG framework. • The Group is in the process of instituting a governance framework that ensures open and transparent communication within the organization concerning matters that pose potential environmental and social risks. As part of UAE's national path to climate neutrality by 2050, Emirates NBD Group is among the 15 signatories of UAE pledge to implement carbon emission reduction goals. 30#31ESG 2023 Highlights ه Launch of Emirates NBD Sustainable Finance Framework in 2023. Raised USD 750 million representing the largest green bond ever issued by a bank in the MENAT region. Best Bank for ESG in the UAE at the Euromoney Excellence Awards 2023. 1st bank in the MENAT region to be awarded Platinum status by the US Green Building Council's LEED programme. Strong regional Green Bond origination credentials, helping raise USD 20 billion through 40 Green Bond issues in 2023 All new branches designed to include all Disability Friendly facilities. AED 58m contribution to local community in 2023. 20% reduction in Scope 2 emissions in 2023 compared to 2022. 4 additional Emirates NBD Branches in KSA achieved Gold Level LEED Certifications. 8 LEED Certifications were achieved in 2023. Commitment to 5% water efficiency year- on-year starting 2023. 98% of transactions on digital only channels 90 nationalities make up +0+0 diverse workforce of FTE's. 40% of our employees are UTI women. 31#32ESG Journey Emirates NBD's ESG commitment over the years have enhanced, covering larger and wider aspects of ESG principles. Our journey has been fruitful, and we expect further development in the upcoming years given the plan to standardize the ESG practices and contributions. Pre 2019 Green Auto Loans Digital Banking: AED 1 Billion Digitisation Programme transformation Instant Account Opening on Mobile E-Savings Account The Scholar Plus Loan LetsLink Women's Club 2019 2020 ☐ Emirates NBD Capital issued 24 ESG bond including: First ever USD corporate green Sukuk First-ever COVID-19 Sustainability Sukuk $1.75 billion ESG-linked syndicated loan Introduced Bio Cards Masdar Green REIT - investing in sustainable real estate assets ❖ Structuring & Managing the first sustainable REIT Amounting to AED 949 million 'See Her Empowered' (SHE) programme 2021 2022 Emirates NBD and DenizBank's Sustainable Finance Frameworks publication. Principal Banking Partner at COP 28 Raised USD 750 million green bond, the largest ever from a regional bank. Best Bank for ESG in the UAE at the Euromoney Excellence Awards 2023 USD 20 billion through 40 Green Bond issues in 2023 Launch of the ESG-Linked Supply Chain Finance Programme in collaboration with Emirates Global Aluminium. First UAE bank to introduce carbon trading in alignment with the UAE's Net Zero action plan 2023 Liv. Digital banking launched in 2017 E-Cheque: mobile cheque deposit in 2015 Exchanger Programme Est. 2015 First sustainability sukuk: issued by EmCap with Islamic Development Bank Launch of the E20. Launch of BusinessONLINE Electing first female director Appointing Group Head of ESG Female workforce grown by 28% in middle management rules Paper savings of roughly 3.3 million DenizBank ranked highest market share 38% in agricultural lending DenizBank has provided a project financing support of USD 1.1 billion for renewable energy projects and sustainability to date 32#33Sustainable Finance Framework Bringing a diverse and robust ESG financing Framework to the market The Framework allows Emirates NBD to issue Green, Social and/or Sustainability debt instruments including Sharia'h compliant financing or investments. Debt instruments issued under the Framework are fully aligned with the four key pillars of the ICMA Green Bond Principles 2021 ("GBP 2021"), Social Bond Principles 2023 ("SBP 2023") & Sustainability Bond Guidelines 2021 ("SBG 2021") as well as the LMA Green & Social Loan Principles ("GLP 2023" & SLP 2023"). ICMA Pillars Description Emirates NBD's Sustainable Finance Framework has the following eligible project categories: Use of Proceeds Green Buildings Energy Efficiency Environmental ◉ Renewable Energy ☐ Clean Transportation ■ Pollution Prevention and Control ◉ Sustainable Water and Wastewater Management Social ◉ Access to Essential Services Affordable Housing ◉ Employment Generation (SME financing) Process for Project Evaluation and Selection Management of Proceeds ■ Emirates NBD's Sustainable Finance Committee will be responsible for governing and implementing the initiatives set out in the Framework The Sustainable Finance Committee is composed of representatives from Group Treasury, Group Sustainability, Risk, Legal, as well as subject matter experts from relevant business units such as Lending The Sustainable Finance Committees is responsible of the allocation of proceeds and the selection and evaluation in accordance with the Sustainable Finance eligibility criteria The Sustainable Finance Instruments proceeds will be managed by Emirates NBD in a portfolio approach Full allocation within 24 months from the time of issuance of each instrument Any proceeds temporarily unallocated will be invested according to the Bank's standard liquidity policy into cash or cash equivalents Reporting ■ Allocation report and an impact report will be published on an annual basis, until full allocation Limited assurance report on the allocation report provided by external auditor or other qualified party, annually until full allocation 33#34Strong Second Party Opinion Provided by ISS ESG The Framework is aligned to ICMA principles and in line with best market practices Emirates NBD demonstrates its contribution to sustainability and to the UAE's government's sustainable strategies. ICMA Pillars Use of Proceeds Evaluation and Selection Management of Proceeds Reporting Aligned ✓ ■ ■ ■ ■ ☐ ISS CORPORATE Powered by SOLUTIONS ISS ESG SECOND PARTY OPINION (SPO) Sustainability Quality of the Issuer and Sustainable Finance Framework Emirates NBD Bank (P.J.S.C.) 28 August 2023 Emirates NBD's green/social categories align with the project categories as proposed by the Green Bond Principles, Social Bond Principles and Sustainability Bond Guidelines, Green Loan Principles and Social Loan Principles. Eligibility Criteria are defined in a clear and transparent manner. Description of estimated proceeds allocation per project category will be provided with the annual reporting following issuance. Environmental/social benefits are described. Emirates NBD defines sector and project exclusion criteria. The Issuer has defined an expected allocation period of 24 months, in line with best market practice. Emirates NBD has defined target population for each social project categories, and defined the impact reporting indicators it will report on to track the progress of the projects. The project selection process is defined and structured in a congruous manner. ESG risks associated with the project categories are identified and managed through an appropriate process. The Issuer clearly defines responsibilities in the process for project evaluation and selection and is transparent about it, which is in line with best market practice. The net proceeds collected will be equal to the amount allocated to eligible projects, with no exceptions. The net proceeds are moved to a sub-portfolio and attested in a formal internal process. The net proceeds are managed on an aggregated basis (portfolio approach). Moreover, Emirates NBD discloses the temporary investment instruments for unallocated proceeds and the expected allocation period is defined in line with best market practice. Emirates NBD commits to disclose the allocation of proceeds transparently and to report in an appropriate frequency. Emirates NBD commits to report annually, until the Sustainable Finance Instruments mature. Emirates NBD provides a list of potential output and impact indicators at category level in line with market practice. 34#35Indicative Eligible Asset Portfolio Eligible Green Assets Portfolio* Green Buildings Renewable Energy Clean Transportation Pollution Prevention Energy Efficiency Wastewater Management *As of June 30th 2023 Green Buildings 82% Renewable Energy 10% Clean Transportation 3% Pollution Prevention 3% Energy Efficiency 2% Wastewater Management 0.1% Eligible Social Assets Portfolio* Access to Essential Services 87% Affordable Housing 11% Employment Generation & Unemployment Action Plans 2% $4,228mn Access to Essential Services $429mn $506mn Affordable Housing $55mn $178mn Employment Generation & Unemployment Action $9mn Plans $127mn $117mn $4mn#36Use of Proceeds GBP Category Green Buildings UNSDG Alignment 11 SUSTAINABLE CITIES AND COMMUNITIES 13 CLIMATE ACTION Green Project Categories Eligibility Criteria • New and existing residential, commercial or mixed use buildings that meet the minimum external green building certification level including (but not limited to): 9 NOSTRE INNOVATION ANDINFRASTRUCTURE AFFORDABLE AND CLEAN ENERGY · LEED, Leadership in Energy and Environment Design 'Silver' • • • Mostadam - Silver Estidama, Pearl Building Rating System in the Emirate of Abu Dhabi '2 Pearl Rating' WELL - Certified • New and existing residential buildings that are within the top 15% most energy efficient buildings in their respective region, as determined through, for instance, a specialist green building consultant study • Refurbished buildings that achieve a minimum 30% improvement in energy use or carbon emissions Renewable energy generation sources: Solar: Photovoltaic solar power (PV), concentrated solar power (CSP) and solar thermal 7 AFFORDABLE AND 13 CLIMATE • Wind: Onshore and offshore CLEAN ENERGY ACTION Renewable Energy . • Green hydrogen: Storage and refuelling infrastructure and fuel production by electrolysis that is 100% Bioenergy & Biothermal . 7 AFFORDABLE AND 13 CLIMATE CLEAN ENERGY ACTION Energy Efficiency 11 SUSTAINABLE CITIES 13 CLIMATE AND COMMUNITIES ACTION Clean Transportation Pollution Prevention and Control 11 SUSTAINABLE CITIES AND COMMUNITIES 12 RESPONSIBLE CONSUMPTION AND PRODUCTION QO Sustainable Water and CLEAN WATER AND SANITATION Waste Water Management Hydroelectric Infrastructure to support renewable energy • Smart energy grids, energy meters, management systems that promote energy efficiency by carrying information to users for remotely acting on consumption, as well as energy efficiency promotion through battery storage facilities that are connected to renewable energy sources District cooling systems: Energy efficient air-conditioning systems powered by at least 50% renewable energy or 50% waste heat or 75% cogenerated heat or 50% of a combination of such energy and heat • Zero tailpipe emission vehicles (including hydrogen, fuel cell and electric) • Infrastructure to support electric vehicles including electrified railways and charging stations for electric vehicles • Collection, transport and transfer of non-hazardous waste Development, construction, installation and/or maintenance of waste sorting and processing (and related infrastructure) linked to recycling projects Waste prevention, waste reduction and waste recycling Waste to energy Waste water treatment (including agricultural waste water treatment plants) and water recycling facilities. Improvements to water infrastructure that increase water use efficiency through replacements and upgrading of inefficient systems Water desalination projects running on reverse osmosis technology with a carbon intensity of less than 100gCO2e/kWh over the residual asset life 36#37Use of Proceeds SBP Category Access to Essential Services Affordable Housing UNSDG Alignment 3 GOOD HEALTH QUALITY AND WELL-BEING Social Project Categories Eligibility Criteria EDUCATION Financing dedicated to healthcare facilities: • Construction and/or operation of healthcare facilities such as hospitals and primary care facilities, affiliated to the relevant national healthcare system Target population: General population (UAE), due to these facilities being accessible by general population irrespective of income 11 SUSTAINABLE CITIES AND COMMUNITIES Employment Generation, and Programs designed to prevent and/or alleviate unemployment stemming from socioeconomic crises, including through the potential effect of SME financing DECENT WORK AND ECONOMIC GROWTH REDUCED 10 INEQUALITIES • Financing dedicated to government schemes for affordable housing and construction of homes for low income individuals Target population: • Populations meeting the criteria for government-supported affordable housing mortgage financing scheme and with a maximum individual income of AED 25,000 . Financing dedicated to MSMEs with an emphasis on employment generation or retention · Financing dedicated to emergency response to a crisis (health crisis, natural disasters and emergency situations) to alleviate unemployment and/or provide financial support for MSMEs Target population: • MSMES 37#38Appendix SIMRANFIRAY KAM Emirates NBD 60 years together 1601 PERE#39Monetary Assets Non-monetary Assets Dec-20 505 Mar-21 524 Hyperinflation Türkiye Consumer Price Index 268% 547 571 687 844 124% 846 Sep-22 1,047 Dec-22 1,128 Monetary Liabilities Net Monetary 1 Equity Position Mar-23 1,270 Jun-23 1,352 65% Sep-23 1,691 Dec-23 1,859 1.6 Key Highlights 0.7 (1.2) 1.7 2.8 Turkish CPI grew in the preceding 12 months DenizBank's results and financial position included within ENBD's consolidated Financial Statements are adjusted for hyperinflation with effect from 1-Jan-22 by 268% over preceding three-years and by 65% Net profit FY'22 Income Expenses Provisions Profit before Hyperinflation tax & others Adjustment Tax Profit FY'23 • Non-monetary Liabilities 1.6 (1.1) (0.1) 26 bps positive impact on capital from hyperinflation adjustment is excluded from capital adequacy computations Group EPS for 2023, excluding hyperinflation adjustment, is 62% higher at AED 3.99 compared to AED 2.47 for 2022 Hyperinflation accounting not mandated by local regulator 39 Emirates NBD 60 years together 1601#40Financial Results Highlights FY23 Emirates NBD 60 years together 1601 Emirates NBD 60 Emirates NBD Excluding DenizBank 160 DenizBank Income Statement FY'23 FY'22 %ΔΥΟΥ Q4-23 %A QOQ FY'23 FY'22 %A YOY Q4-23 %A QOQ FY'23 FY'22 %A YOY Q4-23 %A QOQ (All figures are in AED bn) Net interest income 30.1 23.2 30% 7.8 24.1 15.7 54% 6.1 3% 6.0 7.6 (21)% 1.7 (10)% Non-funded income 12.9 9.3 39% 2.5 (31)% 7.6 6.3 22% 1.9 4% 5.3 3.0 76% 0.6 (67)% Total income 43.0 32.5 32% 10.3 (10)% 31.7 21.9 45% 8.1 3% 11.3 10.6 7% 2.3 (37)% Operating expenses (11.7) (9.3) 26% (3.3) 15% (8.0) (6.8) 18% (2.4) 25% (3.6) (2.4) 49% (1.0) (2)% Operating profit 31.3 23.3 35% 7.0 (18)% 23.7 15.1 57% 5.7 (4)% 7.6 8.1 (6)% 1.3 (51)% before impairment Impairment allowances (3.4) (5.2) (33)% (1.9) 252% (3.5) (3.5) (1.3) 129% (1.7) (102)% (0.6) n/m Profit before tax & others 27.9 18.1 54% 5.0 (37)% 20.2 11.7 73% 4.4 (19)% 7.7 6.4 20% 0.7 (75)% Hyperinflation adjustment (4.2) (3.1) 37% (1.1) (41)% (4.2) (3.1) 37% (1.1) (41)% Tax (2.1) (2.0) 9% 0.1 (108)% (0.3) (0.2) 18% (0.1) (15)% (1.9) (1.7) 7% 0.1 (115)% Profit 21.5 13.0 65% 4.0 (23)% 20.0 11.4 75% 4.3 (19)% 1.6 1.6 (0.3) n/m Cost: income ratio 27.2% 28.5% (1.3)% NIM 3.95% 3.43% 52 bps 32.4% 3.81% 7.1% (27) bps 25.3% 31.1% 3.78% 2.77% (5.8)% 29.1% 101 bps 3.58% 4.9% (11) bps 32.3% 23.0% 4.85% 6.81% 9.3% (196) bps 44.1% 16.2% 5.11% (105) bps Balance Sheet 31-Dec-23 31-Dec-22 %A YoY 30-Sep-23 %A QOQ Total Assets 863 742 16% 836 3% 618 31-Dec-23 31-Dec-22 %A YoY 30-Sep-23 %A QOQ 715 700 31-Dec-23 31-Dec-22 %A YOY 30-Sep-23 %A QoQ 16% 2% 147 124 19% 136 9% Total Gross Loans 481 456 5% 494 (3)% 407 387 5% 427 (5)% 74 69 7% 67 11% Deposits 585 503 16% 570 3% 494 421 17% 484 2% 91 82 11% 86 6% Rounding differences may appear throughout the presentation 40#41US$ convenience translation Emirates NBD 60 years together 1601 Emirates NBD 60 Emirates NBD 601 Excluding DenizBank DenizBank Income Statement FY'23 FY'22 %ΔΥΟΥ Q4-23 %A QOQ FY'23 FY'22 %A YOY Q4-23 %A QOQ FY'23 FY'22 %A YOY Q4-23 %A QOQ (All figures are in USD bn) Net interest income 8.2 6.3 30% 2.1 6.6 4.3 54% 1.7 3% 1.6 2.1 (21)% 0.5 (10)% Non-funded income 3.5 2.5 39% 0.7 (31)% 2.1 1.7 22% 0.5 4% 1.4 0.8 76% 0.2 (67)% Total income 11.7 8.9 32% 2.8 (10)% 8.6 6.0 45% 2.2 3% 3.1 2.9 7% 0.6 (37)% Operating expenses (3.2) (2.5) 26% (0.9) 15% (2.2) (1.9) 18% (0.6) 25% (1.0) (0.7) 49% (0.3) (2)% Operating profit 8.5 6.3 35% 1.9 (18)% 6.5 4.1 57% 1.6 (4)% 2.1 2.2 (6)% 0.3 (51)% before impairment Impairment allowances (0.9) (1.4) (33)% (0.5) 252% (0.9) (0.9) (0.4) 129% (0.5) (102)% (0.2) n/m Profit before tax & others 7.6 4.9 54% 1.4 (37)% 5.5 3.2 73% 1.2 (19)% 2.1 1.7 20% 0.2 (75)% Hyperinflation adjustment (1.2) (0.8) 37% (0.3) (41)% (1.2) (0.8) 37% (0.3) (41)% Tax (0.6) (0.5) 9% (108)% (0.1) (0.1) 18% (15)% (0.5) (0.5) 7% (115)% Profit 5.9 3.5 65% 1.1 Cost: income ratio 27.2% 28.5% (1.3)% NIM 3.95% 3.43% 52 bps 32.4% 3.81% (23)% 7.1% 5.4 3.1 75% 1.2 (19)% 0.4 0.4 (0.1) n/m (27) bps 25.3% 31.1% 3.78% 2.77% (5.8)% 101 bps 29.1% 3.58% 4.9% (11) bps 32.3% 4.85% 23.0% 6.81% (196) bps 9.3% 44.1% 16.2% 5.11% (105) bps Balance Sheet 31-Dec-23 31-Dec-22 %A YoY 30-Sep-23 %A QOQ 31-Dec-23 31-Dec-22 %A YoY 30-Sep-23 %A QOQ Total Assets 235 202 16% 228 3% 195 168 16% 191 2% 31-Dec-23 31-Dec-22 %A YOY 30-Sep-23 %A QoQ 40 34 19% 37 9% Total Gross Loans 131 124 5% 135 (3)% 111 105 5% 116 (5)% 20 19 Deposits 159 137 16% 155 3% 134 115 17% 132 2% 25 220 7% 18 11% 22 11% 23 6% Rounding differences may appear throughout the presentation 41#42Emirates NBD 60 years together 160