#1FBN Holdings Defining Frontiers FY 2022 & Q1 2023 Results Presentation 05 June 2023 E PREMIUM BOARD LISTED#2Disclaimer This presentation is based on FBN Holdings Plc's ('FBNH' or 'FBNHoldings' or the 'Group') audited financial statements for the year ended 31, December 2022 and unaudited financial statements for the period ended 31, March 2023. The Group's Financial statements represent FBN Holdings Plc and its subsidiaries. FBNHoldings has obtained some information from sources it believes to be credible. Although FBNHoldings has taken all reasonable care to ensure that all information herein is accurate and correct, FBNHoldings makes no representation or warranty, express or implied, as to the accuracy, correctness or completeness of the information. In addition, some of the information in this presentation may be condensed or incomplete and this presentation may not contain all material information in respect of FBNHoldings. This presentation contains forward-looking statements which reflect management's expectations regarding the Group's future growth, results of operations, performance, business prospects and opportunities. Wherever possible, words such as "anticipate", "believe", "expect", "intend", "estimate", "project", "target", "risk", "goal" and similar terms and phrases have been used to identify the forward-looking statements. These statements reflect management's current beliefs and are based on information currently available to the management. Certain material factors or assumptions have been applied in drawing the conclusions contained in the forward-looking statements. These factors or assumptions are subject to inherent risks and uncertainties surrounding future expectations generally. FBNHoldings cautions readers that a number of factors could cause actual results, performances or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and undue reliance should not be placed on the forward-looking statements. For additional information, reference should be made to the Group's continuous disclosure materials filed from time to time with the Nigerian Exchange (NGX) and other relevant regulatory authorities. The Group disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. 2#3FBN Holdings Defining Frontiers Key Highlights Th PREMIUM 2 BOARD LISTED#4A challenging operating environment Key Highlights High inflationary environment tapered growth momentum 22.04 20.77 21.34 18.6 17.75 16.63 15.63 15.92 5.01 4.03 3.98 3.11 3.54 3.52 2.25 2.31 Decline in revenue despite an increase in crude production 1.6 1.6 1.5 1.5 mthin 33.3 36.8 40.5 80.4 39.5 39.2 1.1 28 31 1.4 1.2 37.1 35.5 0.9 68.7 73.8 99.3 112.6 96.4 85.0 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Q4 22 80.8 Q1 23 I GDP growth rate (%) Inflation rate (%) Progressive rise in rates notably on the longest dated security below 9.2 7.5 3.5 2.5 External reserve (USD billion) Average Quarterly Brent oil price (USD/pb) Steady increase in exchange rate Crude oil production (mbpd) 11.4 12.0 10.5 461 448 7.5 6.3 432 6.5 416 412 410 410 4.9 3.3 7.5 6.1 4.9 4.5 3.5 3.5 3.8 3.0 2.5 2.5 2.4 1.8 Q2 21 Q3 21 Q4 21 Q1 22 Q2 22 Q3 22 Avg. 91 days T/bills Stop rate Avg. 182 days T/bills stop rate Data source: NBS, CBN, OPEC, FMDQ Q4 22 Q1 23 Q2 21 Q3 21 Q4 21 Q1 22 Avg. 364 days T/bills stop rate Q2 22 Q3 22 Q4 22 Q1 23 ■CBN/I&E Rate (NGN/USD)#5Reinforced foundations underpin growth trajectory Resilience Quality Diversification Execution . • • FY 22: Gross earnings of #805.1 billion (up 6.3% y-o-y); Q1 23: #259.5.1 billion (up 43.8% y-o-y) • • FY 22: Profit before tax of 157.5 billion (down 5.4% y-o-y); Q1 23: (up 53.6% y-o-y) Demonstrated sustainable income growth from core business NPL ratio at 4.0% (Q1 23), below the 5% regulatory threshold (FY 22: 4.3%; FY 21: 6.1%) Significant improvement in NPL coverage ratio as at Q1 23 to 96.7% (FY 22: 86.6%; FY 21: 62.2%) Increased earnings contribution from international subsidiaries (1) to 30.0% (FY 21: 25.5%) • Compelling bank-led agent banking network in Nigeria with >200K agents (2) Processed on average >253 million electronic banking transactions per month Processed 332 million transactions worth 8.5 trillion in 2022 through FirstMonie Agents 22% market share of transactions processed by the most dominant switching network Discipline Solid earnings growth supporting organic capital generation Maintained our capital management framework of focusing on optimising earnings (1) International subsidiaries of FirstBank (2) As at March 2023 Key Highlights 5#6Key Highlights Structural improvements deliver strengthened Group with significant upside potential Improved governance and risk management Improved governance focus High-quality Board provides oversight and strategic direction Strong Management delivering on strategic priorities Distinctive competitive advantages . Strong franchise and brand recognition • Systemic relevance • Loyal customer base • • • • Differentiated transactional processing Distinctive e-business and Agency capabilities Unmatched local and foreign "market access" Experienced management team Solid earnings accretive business • Optimising core revenue base . Maintained focus on Opex control • Diversified revenue sources in focus • Validated business model, delivering results • Building a fortress balance sheet Revamped risk management resulting in significantly improving asset quality Excellent liquidity with proven low-cost funding mobilisation advantage Improving capital absorbing capacity 6#72023 Strategic Priorities Key Highlights Enhance Revenue and Profitability By activating next-gen capabilities to jumpstart the next digital financial services growth phase and broaden non-funded revenue base Strengthen Value Proposition By leveraging the strength of our unique business group to enhance customer experience Optimise Operational Efficiency By eliminating operational duplications, promoting process automation and leveraging Group scale . • Monetize Analytics & Data Optimise business development opportunities Drive new customer acquisition Revamp digital products development and delivery models Own the customer journey across physical and digital channels (locally and internationally) Value proposition redefinition and realignment Reassess business portfolio, continue to explore viable adjacencies Refine business delivery models and governance structures Focus on low-capital, high-value business Transition into a platform business Integrate collaborative measures and maximise operational synergies Enabled by: Technology Architecture | | Governance | Disciplined Risk Management 7#8Key Highlights Franchise strength, solid funding base, improving operational excellence and disciplined capital management underpin strong investment case Low Cost of Funding 2024 H1 2021 FY 2022 Q1 2023 Financial Targets Strong Internal ROE Healthy Profitability Capital Generation 9.9% 14.5% 20.1% >20% Sustainable Stable Funding Profile Improved Income Asset Growth Quality Solid Earnings Strong Franchise Improved Governance Potential CIR 68.6% 61.7% <58% COR 2.2% 2.0% 1.7% <1% NPL 7.2% 4.3% 4.0% <5% 8#9FBN Holdings Defining Frontiers Financial Review PREMIUM BOARD LISTED#10Financial Review FY 22: Delivered strong financial performance in a challenging operational and regulatory environment Gross Earnings N'billion Net-Interest Income 'billion Non-Interest Income N'billion Operating Income N'billion Impairment Charge N'billion +6.3% +59.2% -37.6% -0.4% -25.2% 805.1 757.3 91.7 363.2 363.3 592.6 590.4 68.6 228.2 227.2 FY 21 FY 22 FY 21 FY 22 Operating Expense N'billion Profit Before Tax N'billion +9.0% -5.4% FY 21 Total Assets N'billion +18.4% FY 22 FY 21 FY 22 FY 21 FY 22 Loans and Advances N'billion Customer Deposit N'billion +31.5% +21.8% 3,789 10,578 7,124 364.1 8,932 334.2 166.7 2,882 157.7 5,849 FY 21 FY 22 FY 21 FY 22 FY 21 FY 22 FY 21 FY 22 FY 21 FY 22 10 10#11Q1 2023: Sustained improvement in performance Financial Review Gross Earnings \'billion Net-Interest Income 'billion Non-Interest Income N'billion Operating Income N'billion Impairment Charge N'billion +43.8% +53.6% +11.8% +33.9% +93.1% 72.3 259.5 111.8 184.2 64.7 180.5 72.8 137.5 8.8 Q1 22 Q1 23 Operating Expense N'billion +20.6% Q1 22 Q1 23 Profit Before Tax N'billion +53.6% Q1 22 Q1 23 Total Assets N'billion +4.9% 16.9 Q1 22 Q1 23 Q1 22 Q1 23 Loans and Advances N'billion Customer Deposit N'billion +4.2% +6.6% 10,578 11,093 56.1 111.2 3,789 3,949 7,124 7,591 92.2 36.5 Q1 22 Q1 23 Q1 22 Q1 23 FY 22 Q1 23 FY 22 Q1 23 FY 22 Q1 23 11#12Strengthened Group with significant upside potential Financial Review Post Tax ROaE (%) Net Interest Margin (%) Cost of Funds (%) NPL Ratio % NPL Coverage (%) 6.4 20.0 5.8 18.4 4.5 14.5 3.0 6.1 96.7 86.6 2.3 4.3 2.1 4.0 62.2 FY 21 FY 22 Q1 23 FY 21 FY 22 Q1 23 FY 21 FY 22 Q1 23 FY 21 FY 22 Q1 23 FY 21 FY 22 Q1 23 Post Tax ROaA (%) Cost to Income (%) Cost of Risk (%) 1.9 3.2 1.8 61.7 60.4 56.4 1.4 FY 21 FY 22 Q1 23 1.7 1.7 Capital Adequacy Ratio (¹) (%) Liquidity Ratio (2) (%) 33.0 31.7 31.4 17.4 16.8 15.6 FY 21 FY 22 Q1 23 FY 21 FY 22 Q1 23 FY 21 FY 22 Q1 23 FY 21 FY 22 Q1 23 (1) CAR is for FirstBank (Nigeria). Including Q1 2023 Profit, CAR will be 16.5% CAR for the Merchant Banking business is 16.3% for FY 2022 and 17.4% as at Q1 2023 (2) Liquidity Ratio for FirstBank (Nigeria) 12#13Financial Review Revenue growth driven by increase in interest income; supported by margin optimisation Gross Earnings N'billion 259.5 805.1 757.3 180.5 Gross Earnings Mix Interest Income Mix 21.9% 21.6% 27.2% 27.9% 20.6% 28.2% 35.9% 48.1% 78.1% 78.4% 69.2% 73.4% 72.8% 68.6% 60.6% 48.7% FY 21 FY 22 Q1 22 Q1 23 FY 21 FY 22 Q1 22 Q1 23 FY 21 FY 22 Non - Interest Income (1) Interest Income ■Loans and advances Q1 22 Q1 23 Investment securities Group Revenue by Segment Segment Revenue 28.1% 24.9% (2) 0.6% 22.9% 8.0% 6.6% 6.1% 2.7% 0.1% 0.1% ■Corporate Banking & Investment Banking ■Electronic banking income Retail Banking Treasury Services Public Sector Asset Management Insurance Brokerage ■Equity & Brokerage (1) Non-interest income includes fees and commission expense (2) Note: Data labels correspond to respective legend Commercial Banking Trusteeship 13#14Financial Review Robust non-interest income revenues on the back of increased transaction volume Non-interest Income Breakdown Net (N'bn) Fees & Commission Breakdown Gross (N'bn) . Fees & commission recorded a +27.2% increase y- o-y in Q1 23 (FY 22: +2.4%) -37.6% +2.4% • FY 22 non-interest income fell by 37.6% y-o-y to #227.2 billion due to lower trading and a decline in other income [2021 benefited from high recoveries] Q1 23 non-interest income rose by 11.8% y-o-y to #72.3 billion as a result of higher net fees & commission as well as slight increase in other income Increasing penetration of digital and transaction banking offerings support non-interest income, notably in Q1 140.6 144.0 364.3 27.3 30.2 227.2 12.7 6.8 155.7 11.8 16.0 15.7 16.0 92.0 116.6 25.7 83.5 118.0 16.7 19.9 56.4 55.1 FY 21 FY 22 FY 21 Net fees & commission Trading income Others (1) ■E-banking Remittances | LoC commission & fees FY 22 Account Maintenance Credit related fees Others (2) +11.8% +27.0% • FirstMonie Agent network continues market expansion with more than >200k (3) agents (FY 21: 152.7k) 64.7 23 42.8 72.3 33.7 28 6.5 34.3 3.1 6.3 35.1 4.0 5.2 4.1 35.3 17.9 27.3 12.2 Q1 22 Q1 23 Net fees & commission Trading income Others (1) (1)Others include dividend income and other operating income (2) Others include commission on bonds and guarantees, custodian fees, financial advisory fees, fund management fees, brokerage and Intermediations, other fees and commissions, trust fee income (3) As at 31 March 2023 E-banking Q1 22 LoC commission & fees Remittances Q1 23 Account Maintence Credit related fees Others (2) 14#15Financial Review E-business remains key to non-interest income and supports earnings from non- capital consuming sources Electronic Banking Revenue N'billion CAGR 17% 56.8 55.1 48.7 48.0 23.7% 26.7% +46.6% 17.9 29.0% 23.5% 32.1% 12.2 34.0 15.1% 24.2% 15.9% 14.5% 32.2% 27.2% 32.7% 25.0 30.6% 24.9% 14.8% 15.9% 17.7% 31.5% 5.0% 39.9% 19.1% 13.6% 10.4% 7.4% 10.1% 58.4% 0.4% 10.2% 12.4% 11.5% 0.0% 23.5% 8.9% 26.3% 23.3% 22.4% 25.0% 15.5% 23.4% 1.2% 2017 2018 2019 2020 2021 2022 Q1 2022 Q1 2023 (1) Others include ATM, POS, SMS & Web USSD Mobile & Internet Banking Agent Banking Cards Other (1) 15#16Customer-centric innovations underpin growth Volume (million) CAGR 29% Agent Banking Mobile & Internet USSD 312 +65.0% 457 1,189 1,024 1,102 882 800 580 Value N'billion Financial Review CAGR 38% +39.3% 4,451 4,511 1,475 3,677 1,059 2,566 1,968 883 2017 2018 2019 2020 2021 2022 Q1 2022 Q1 2023 2017 2018 2019 2020 2021 2022 Q1 2022 Q1 2023 CAGR 35% +81.2% 425 181 376 255 100 181 138 95 CAGR 52% +29.0% 30,565 9,492 25,026 7,357 15,615 10,212 6,430 3,813 2017 2018 2019 2020 2021 2022 Q1 2022 Q1 2023 2017 2018 2019 2020 2021 2022 Q1 2022 Q1 2023 CAGR 78% 364 332 295 151 33 92 22 +3.5% 95 CAGR 97% 8,417 8,499 2,269 6,684 2,523 568 +0.5% 2,280 2018 2019 2020 2021 2022 Q1 2022 Q1 2023 2018 2019 2020 2021 2022 Q1 2022 Q1 2023#17Financial Review Cost management remains a key priority; elevated Opex due to high inflation & regulatory requirements . FY 22 Opex +9.0% y-o-y and Q1 23 +20.6% y-o-y on account of the high inflationary environment CIR further improved to 60.4% in Q1 23 (FY 22: 61.7%; Q1 22: 67.1%) as operating income grew faster than Opex OPEX Drivers (N'billion) 2.7 FY 22 117.4 43.0 28.1 17.0 17.8 72.2 66.0 364.1 Increase in regulatory costs reflect business growth FY 21 128.8 35.3 28.3 3.2 17.1 11.7 54.6 55.2 334.2 Q1 23 3.4 31.3 11.0 7.2 4.4 3.2 19.5 31.1 Q1 22 25.6 9.4 7.3 4.11.4.3 13.0 29.1 92.2 111.2 Staff cost Insurance Premium Maintenance Other operating expenses Depreciation & amortisation Others (1) Outsourced cost Regulatory (1) Amortisation and Impairment, directors' remuneration, cash handling charges, communication, lights and power, legal & professional fees, donations & Subscriptions, insurance premium, rent and rates, stationery & printing, passages and travels & other operating expenses 17#18Financial Review Customer deposits continue to trend upward; reinforcing our robust funding base • FY 22 customer deposits increased by 21.8% to #7.1 trillion (FY 21: #5.9 trillion) Q1 23 customer deposits rose by 6.6% to #7.6 trillion (FY 22: #7.1 trillion) - Low cost deposits at FirstBank Nigeria continue upward trajectory accounting at 92.5% of total deposits as at Q1 23 (FY 22: 91.9%; FY 21: 91.2%) Rich retail franchise provide stable core deposit base FirstBank Nigeria low-cost deposits (1) Customer Deposits Mix (N'billion) Q1 23 2,524 FY 22 2,164 FY 21 1,866 1,928 2,369 2,414 1,316 1,317 20 7,591 1,080 1,491 20 7,124 1,005 1,035 16 ■Savings Current Term ■Domiciliary Electronic purse 5,850 91.4% 91.2% 91.9% 92.5% 83.3% 82.9% 85.0% 86.5% FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 Q1 23 (1) Deposits from customers less Term deposits 18#19Revamped risk management strengthens the high-quality loan portfolio FirstBank Nigeria Loan Currency Mix FirstBank Nigeria Gross Loan per Sector ('trillion) Financial Review Q1 23 20.0% 3.6 17.1% 10.0% 8.7% 8.3% 4.0%.4% 6.1% 23.4% 50.4% 47.3% 54.2% 52.1% 54.3% 51.2% 50.4% FY 22 3.4 19.5% 16.6% 9.2% 9.2% 8.2% 4.4% 2.4%5.7% 24.8% 49.6% 52.7% 45.8% 47.9% 45.7% 48.8% 49.6% FY 21 18.2% 15.8% 10.3% 7.0% 9.5% 5.9% 4.1% 4.4% 24.8% 2.6 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 Q1 23 FCYLCY ■Manufacturing O&G Upstream O&G Downstream O&G Services ■Government Construction Real Estate ICT ■Others (1) • The Group's net customer loans increased by 31.5% as at FY 22 to 3.8 trillion (FY 21: #2.9 trillion) FBNQuest Merchant Bank Gross Loan per Sector (N'billion) Q1 23 40.2% 10.2% 3.0% 14.9% 6.5% 3.6% 21.6% 102.1 • Loan growth driven by manufacturing, telecoms, oil & gas and general commerce sectors FY 22 38.2% 10.7% 8.4% 13.8% 2.28.3% 28.4% 108.2 • Quality of the portfolio secured in a devaluation FY 21 33.1% 79.1 19.1% 9.8% 6.4% 3.6% 4.9% 23.1% event given no cross-currency exposures • Minimal impairment impact of #5.9 billion on account of Ghana Government exposures (2) ■Manufacturing ■O&G Upstream Real Estate O&G Downstream ІСТ Natural Gas Others (1) Personal & Professional, Power & Energy, General, General commerce, Public utilities, Agriculture, Transportation, Finance & Insurance, Education, Human health & Arts, Admin & Support Services (2) Agriculture, Power & Energy, Finance & Insurance, General, General commerce, Transportation & Storage, Mining & Quarrying 18 6#20Financial Review Strengthened balance sheet supported by sustained asset quality improvements FirstBank Nigeria NPL per Sector Q1 23 FY 22 41.0% 44.4% 0.1% 17.2% 10.1% 4.4% 5.8% 4.5% 3.3% 1.5% 0.2% 17.0% 9.5% 8.2% 6.0% 4.2% 2.2% 1.4% ■Real Estate Oil & Gas Upstream Agriculture Others Oil & Gas Downstream ■Manufacturing General Commerce Oil & Gas Services General Asset quality continues to improve with a reduction in NPL ratio to 4.0% in Q1 23 (FY 22: 4.3%; FY 21: 6.1%) Balance sheet further strengthened with Q1 23 coverage ratio at 96.7% (FY 22: 86.6%; FY 21: 62.2%) Impairment charge increased largely in line with our strategy to improve coverage ratio NPL in Real Estate represent 0.8% of Group gross loans Cost of Risk closed at 1.7% in Q1 23 (Q1 22: 1.1%) (1)Others include personal & professional, construction, transportation, power & energy, education, ICT, Health, finance & insurance & arts NPL Ratio 26.0% 22.8% 9.9% 7.7% 6.1% 4.3% 4.0% FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 Q1 23 Cost of Risk 6.4% 4.0% 3.2% 2.6% 2.5% 1.7% 1.7% FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 Q1 23 20 20#21Financial Review Disciplined capital management as strong earnings growth support organic capital accretion . Q1 23 CAR1 at 16.5% including Q1 23 profit (15.6% exc. profit) FirstBank Nigeria CAR (%) 17.4 16.8 16.5 Capital remains adequate for the business • Organic capital generation still in play with solid earnings growth • Capital position to remain in compliance with regulatory guidance Capital continue to be modulated in light of business needs, regulatory requirements and evolving macro environment FY 21 FBNQuest Merchant Bank CAR (%) 19.5 15.6 FY 22 Q1 23 17.4 16.3 FY 21 FY 22 Q1 23 Reg. threshold: 15% Reg. threshold: 0% 21#22Financial Review A thought leadership and responsible lending key tenets of our ESG approach 論 INVESTMENT Driving sustainable finance and investments NCF Contributing to Environmental Sustainability RESPONSIBLE LENDING & CLIMATE INITIATIVES #6.29 Trillion Screened for ESG risks transactions Partnered with NGOs including the Nigeria Conservation Foundation in our efforts at tree planting to reduce CO2 emissions/ global warming Adopted renewable energy supply in 19 locations through solar powered energy solutions • 54% reduction in paper consumption (from 2021-2022) SUSTAINABILITY GOVERNANCE & THOUGHT LEADERSHIP 64% Independent Non-Executive Directors Co-Chair Labour Committee United Nations Global Compact Local Network Member > UN Women ⚫ > Nigeria Conservation Foundation Institutional Member Sustainability Professionals Institute of Nigeria Pioneer Member The Nigeria Chapter of UN Unstereotype Alliance Member • UN African Business Leaders Coalition ABLC 000 SUSTAINABLE DEVELOPMENT GOALS 22#23Strong focus on diversity, financial inclusion and communities EMPOWERING PEOPLE Empowering people SPARK Start Performing Acts of Random Kindness Supporting our communities SUSTAINABLE DEVELOPMENT GOALS • • • • DIVERSITY & INCLUSION 32% Women in Leadership > 8,000 female employees impacted by First Women Network initiatives 40% employees are female Guaranteed equal compensation 4 months paid maternity leave for women and 2 weeks paid paternity leave for men Strong and diversified Employee Generation Distribution: Baby Boomers - 1%; Gen X-37%; Millennials - 61%; Gen Z-1%; Average employee age of 37.9 years • 155 locations were accessible to the physically • challenged ++ Financial Review FINANCIAL INCLUSION & COMMUNITY INVESTMENT ~ #5 Billion Fund available to empower women N100 million spent on community investments > 1.2 million students impacted through Financial literacy 200,000 including 55K female First Monie agents empowered > 500k direct and indirect jobs created by FirstMonie #22 billion paid to agents in commission in 2022 Processed about 335 million transactions worth about #9 trillion through FirstMonie Agents 23#24FBN Holdings Defining Frontiers Appendix PREMIUM BOARD LISTED#25Appendix Commercial Banking, Merchant Banking and Asset Management Group (FBNQuest) Commercial Banking Group Key financial highlights & performance ratios Income statement Nbillion Merchant Banking and Asset Management Group (FBNQuest) Key financial highlights & performance ratios Statement of Financial Position Income statement FY 22 FY 21 y-o-y Nbillion FY 22 FY 21 y-o-y Nbillion FY 22 FY 21 y-o-y Statement of Financial Position Nbillion FY 22 FY 21 y-o-y Gross earnings Operating income Impairment charge Net interest income Non-interest income Operating expense Profit before tax Loans and 147.0 748.8 716.8 555.7 567.9 (66.7) (123.1) 357.2 225.7 198.5 342.1 (341.9) (313.9) 130.9 4.4% Loans and advances 3,699.5 Gross earnings 53.1 42.5 24.3% 106.5 76.8 38.8% 2,835.2 30.5% advances -2.1% Operating income 30.7 26.5 16.0% Deposits from -45.8% 58.3% -42.0% 8.9% 12.4% Deposits from customers 133.4 119.4 11.7% 6,895.8 5,634.9 22.4% customers Impairment charge (1.9) (0.9) 101.7% Shareholders 63.3 62.2 1.8% Shareholders 903.6 794.3 13.8% fund Total assets 10,089.9 8,542.4 18.1% Operating expense Profit before tax Profit after tax (15.1) (15.5) -2.7% fund Total assets 495.4 387.4 27.9% 13.9 9.8 42.2% 10.2 7.4 37.3% Profit after tax 129.4 117.8 9.8% Return On Average Equity (%) Cost To Income (%) Non-performing Loan Ratio (%) Return On Average Equity (%) Cost To Income (%) Non-performing Loan Ratio (%) 61.5 16.2 15.7 15.2 6.1 58.6 55.3 12.4 4.4 2.0 1.4 FY 21 FY 22 FY 21 FY 22 FY 21 FY 22 FY 21 FY 22 FY 21 FY 22 FY 21 FY 22 25 25#26Key regulatory and policy interventions CBN increased MPR by 150bps to 13.0% to curb further rise in inflation CBN issued a circular on the enrolment of Other Financial Institutions (OFIS) on the Credit Risk Management System (CRMS) Interest rates on all CBN intervention facilities reverts to 9% per annum Digital Financial Literacy exposure draft issued to improve standards, align product development, consumer awareness and enhance transparency and disclosures CBN introduces Naira Redesign Policy (#200, 500, and #1000 notes) and revised cash withdrawal limits. The old and new notes serve as legal tender till December 2023 Q2 2022 Q3 2022 Appendix CBN issues draft guidelines for contactless payments in Nigeria Tenure of Executive Management and Non-Executive Directors of DMBS revised Q4 2022 Q1 2023 CBN released the guidelines for the registration and operation of Bank Neutral Cash Hubs (BNCH) in Nigeria to improve cost and efficiency in cash management value chain CBN issued a circular on the enrolment of Other Financial Institutions (OFIS) on the Credit Risk Management System (CRMS) Access to the CBN discount window modified for successful participants of the foreign exchange auction and government securities bids CBN increased MPR by 350bps to 16.5% Savings deposit rate revised to 30% of MPR (i.e., 4.2%) effective August 1, 2022 CBN has issued new guidelines for the licensing of banks and Other financial institutions on implementation of provisions of the AML/CFT/CFP* regulations CBN issued two regulations regarding the engagements of Super Agents and Guidelines for Agent Banking relationships CBN increased MPR to 18%, 150bps higher than the previous quarter *Anti-Money Laundering, Combating the Financing of Terrorism and Countering Proliferation of Weapons of Mass Destruction 26#27Non-financial highlights Appendix 8.1k 41.6 Million Customer Accounts* 3,089 Automated Teller Machines *8940 # Quick Banking ...so easy, so simple! 14,716,793 Subscribers Employees 61% 39% *Including wallets 739 IIIII FirstBank Branches ATM 12.06m ATM Cards 17,426 P.O.S VISA UW* 6.1m First Mobile Subscribers 27 27#28Definitions Appendix Cost-to-income ratio computed as operating expenses divided by operating income Cost of risk computed as annualised credit impairment charges divided by the average opening and closing gross loans balances Net-interest margin computed as annualised net interest income divided by the average opening and closing balances of interest earning assets excluding financial assets at fair value through profit & loss plus unlisted debts Operating income is defined as gross earnings less interest expense, fee and commission expense, insurance claims and share of profit/loss from associate Pre-provision operating profit computed as operating profit plus impairment charge Net revenue computed as operating income plus share of profit/loss from associates NPL coverage computed as loan loss provisions plus statutory credit reserves divided by non-performing loans Loans to deposits ratio computed as gross loans divided by total customer deposits Leverage ratio computed as total assets divided by total shareholders' funds Return on average equity computed as profit after tax (annualised) divided by the average opening and closing net asset balances attributable to its equity holders Return on average assets computed as profit after tax (annualised) divided by the average opening and closing balances of total assets 28#29Contact details Head, Investor Relations Tolulope Oluwole [email protected] +234 (1) 905 2720 Investor Relations Team [email protected] +234 (1) 905 1086; 1147 Appendix 29