#1Better Banking for Jordan & Iraq Investor Presentation Executive Summary – June 2020 - capital#2Disclaimer Capital Bank of Jordan ("Capital Bank") has taken reasonable measures that the information and data it presents on the Investor's Presentation on this website is accurate and current. However, Capital Bank makes no express or implied warranty regarding the accuracy, adequacy, usefulness, reliability and the completeness of the information or data provided in the Investor's Presentation, which may have been provided by third parties or otherwise. Capital Bank hereby expressly disclaims all legal liability and responsibility to persons or entities that use or access this Investor's Presentation and its content, based on their reliance on any information or data that is available through the Investor's Presentation. 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Capital Bank accepts no responsibility or liability whatsoever for any losses or damages, including consequential losses and damages, suffered directly or indirectly by any person who uses or accesses the information in the Investor's Presentation, including without limitation, loss of profits, resulting from any investment or divestment made or any change to an investor's financial position which is made as a consequence of the reader's use of the information in this Investor's Presentation. This Disclaimer and its terms is an extension to the Terms and Conditions provided by Capital Bank to address the use of Capital Bank's Website. 2#3Section 1 Capital Bank Group at a Glance capital bank 3#4Jordanian based bank with a unique value proposition Vision Better Banking for Jordan & Iraq Mission Providing innovative, simplified, and holistic financial solutions through enhanced products & an elevated level of customer service and experience in the Jordanian and Iraqi markets. Strategic Direction Digital Convenience Strategic Geographical Presence Holistic Product Offering Become the number one banking group and gateway for corporations doing businesses in Jordan and Iraq. In Jordan, grow and solidify a stable Capital Bank that also operates as the backbone for the National Bank of Iraq. In Iraq, a diverse and digitally enabled bank tapping into lucrative green fields and capturing relevant opportunities. Continuously innovate to offer a full range of value adding commercial, treasury and investment banking services to our clients. 4#5Capital Bank at a glance USD 504m Equity USD 3.66b Assets USD 1.76b 6.3% Net Loans NPLs All values in USD A unique value proposition offering a strategic regional positioning, and digital convenience across a wide-spectrum of advanced corporate, retail and investment banking solutions. . High growth economy • World's 4th largest oil reserve • Attractive demographics Iraq • Significant reconstruction 20% NOI Growth 9.38%* ROE Jordan • opportunity Significant room to fill the service gap within the banking sector 0.178 EPS (2019) Political stability 10% 3yr Avg. Dividends economy • Openness to global International AML and compliance standards • Well regulated banking sector 17.6% CAR 142% LCR Figures as of June 2020. NOI refers to Net Operating Income growth June 2019 to June 2020. *ROE figure covering YTD June 2020 performance excludes COVID-19 related provisions for the period. UAE Gateway for the Group to GCC markets, clients and investors Hub for businesses and multinationals working in Iraq LO#6Group structure Entity Establishment Corporate & Commercial Banking capital Parent bank Amman, Jordan 1995 National Bank of Iraq Subsidiary (61.8% share) Baghdad, Iraq 1995 Investment Banking capital investments (DIFC) Ltd capital investments Subsidiary (100%) Amman, Jordan 2005 Subsidiary (100%) Dubai, UAE 2014 Ownership & Regulator Offering Publicly Listed Amman Stock Exchange Full Fledged Commercial Bank Operates through 13 branches, including a dedicated Capital Select HNWI proposition. Offers Corporate, SME, Retail & Treasury. Advanced digital platform. Publicly Listed Iraq Stock Exchange Full Fledged Commercial Bank Operates through 12 branches across Iraq, including both the Basra and Kurdistan regions. Offers Corporate, SME, Retail & Treasury services. Full trade finance offering, and a large network of correspondent banks through Capital Bank. Private Jordan Securities Commission Full Fledged Investment Bank Offers asset management, brokerage (local, regional & international) as well as corporate finance, capital raising & advisory services. Private Limited Liability Dubai Financial Services Authority Investment Advisory Offers corporate finance, advisory, capital raising & arranging services. Acts as a egional marketing and investor outreach platform for the Group. Shareholding Well diversified shareholder base, with a number of prominent Jordanian families holding shares since establishment. Shareholders with positions >1% hold a total of 72.4% shares, with no single controlling stake Strategic selection of investors, with majority control remain with Capital Bank (61.85% share). Shareholders with major stakes include Cairo Amman Bank (9.9%) and PalTel (5%) Capital Bank, 100% Capital Bank, 100% CO 6#7Solid governance and decision-making structure List of Board Members (As of September 2020) Name Membership H.E. Bassem Khalil Al-Salem 2010 Position Chairman Mr. Mazen Samih Darwazah 2009 Vice Chairman Social Security Corporation 2009 Member Represented by Shaden Darwish Al-Haji Hotaf Investment Company 2009 Member Represented by Mr. Mohamed Ali' Al-Husry Investments & Integrated Industries 2009 Member Representing Omar Mohamed Shahrour Al-Jadara Co. for Real Estate Investment 2009 Member Represented by Sultan Bin Mohammed Al-Seif Al-Khalil Co. for Investments 2009 Member Represented by Khalil Hatem Al-Salem Omar Akram Bitar 2015 Independent Member Reem Haitham Goussous 2015 Independent Member Mohamad Hasan AlHaj Hasan 2017 Independent Member Ahmad Qasem Al-Hanandeh 2017 Independent Member Khalid Walid Nabilsi 2017 Independent Member Arab Potash Company 2020 Independent Member Represented by Jamal Ahmad Al Sarayrah Board of Directors Capital Investments Directors Clear decision making & governance framework Board Committees Corporate Governance, Remuneration, Risk, Compliance, Audit, Strategy, IT Governance & Credit Committees Management Committees ALCO, Investment, Products & Services, IT Steering & Internal Risk Committees. Group Organizational Structure National Bank of Iraq Board Board of Directors Group CEO Capital Bank Jordan National Bank of Iraq Capital Investments (Jordan+UAE) Group Compliance Group Risk Group Internal Audit Group Financial Control Group Credit Review 7 Compliance Committees Risk Audit Credit#8Exceptional leadership, long-term value driven Capital Bank's Board Member's and Executive Management team boast deep experience within the commercial, investment and finance fields, representing a diverse and solid skillset that adds significant value to the Bank. H.E. Mr. Bassem Al-Salem Chairman " HE Mr. Al-Salem is one of the founders of Capital Bank and has been Chairman since 2010. He previously served as the Jordanian Minister of Labor and Minister of Finance consecutively (2005 - 2009) and is commended for introducing socioeconomic policies that have contributed toward the creation of jobs, attracting businesses and investments to Jordan, while helping homegrown businesses flourish. HE Mr. Al-Salem is also the chairman of King's Academy, a Jordan-based school focused on fostering social inclusion and currently sits on the board of several prominent private and publicly listed companies, including the General Mining Company. He has previously served as chairman of the Association of Banks in Jordan (2012-2015), executive chairman of the Social Security Corporation (2005 - 2009), as well as a member of the Jordanian Senate (2010 - 2011). HE Mr. Al-Salem holds a bachelor's degree (with honors) in chemical engineering from Imperial College, United Kingdom. Dawod AIGhoul Chief Executive Officer Appointed as Group CEO in March 2020, Mr. Al Ghoul brings with him over 26 years of extensive experience in financial and strategic planning, investments and financial restructuring within reputable regional and global investment and financial institutions; such as Abu Dhabi Capital Group, KPMG, and Arab Bank Group - where he worked in various senior roles since 2003, including serving as Group CFO from 2012 to 2016. Mr. Al Ghoul previously sat on the board of directors of Capital Bank, as well as numerous regional financial institutions in Jordan, Tunisia and Libya, including International Islamic Arab Bank, Wahda Bank and Arab Tunisia Bank. Mr. Al Ghoul is a US-Certified Public Accountant (CPA) and earned his MSc in Accounting and Finance from the University of Colorado, as well as a BSc in Accounting from the University of Jordan. 8#9Support Control Business Well experienced management team Capital Bank's Key Executives and Senior Management Team Name Position Joining Ayman Abu-Dhaim CEO, National Bank of Iraq 2011 Experience Highlights Over 20 years experience in financial control and banking. He previously held the position of CFO for the Group, and well as CFO for the Social Security Investment Fund in Jordan. Sami Nabulsi CEO, Capital Investments 2018 Over 20 years in private equity, investment banking, and asset management across a number of leading private, public, and governmental institutions throughout the region. Ali Abu Swai Chief Treasury, Investments & FI Officer 1997 Over 25 years in financial markets and banking, treasury and investment. Previously led Jordanian Trade Association. Yasser Kleib Head of Institutional Banking 2004 Over 25 years in commercial and institutional development in Jordan and Iraq. Previously worked in the Arab Bank. Zein Malhas Head of Transaction Banking 2018 Over 12 years in the banking sector in Jordan, having worked for the Housing Bank and Standard Chartered, where she managed the Global Subsidiaries business. Also a member of the board of Middle East Payment Services (MEPS). Mohammad Othman Head of Consumer Banking 2020 Over 15 years in the banking sector, having held managerial positions and specialization in retail banking and product development at several banks including Bank Al-Etihad, Al Rajhi Bank Jordan, Jordan Ahli and Arab Bank. Falah Kokash Chief Risk Officer 2012 Over 20 years in the financial sector. He has held several leadership positions in risk management and credit analysis and has worked for several banks in Jordan and Saudi Arabia. Several accreditations incl. FRM, ICBRR, CMA & CFM. Saher Abdel-Hadi Head of Compliance 2018 Over 28 years in the banking sector, having worked at a number of banks including Standard Chartered Bank and ABN AMRO Bank. Most recently, in Compliance at the Arab Bank. Manar Al Nsour Chief Financial Officer 2001 Over 18 years of experience in financial control and analysis, having held various managerial positions at Capital Bank before assuming the CFO for the Group. Manar Aabidi Chief Credit Officer 2018 Over 20 years in banking, with extensive expertise in Credit, Risk, Corporate Finance and commercial banking. Previously worked with Citibank Jordan, Housing Bank, HSBC Jordan. Izzidin Abu Salameh Chief Operating Officer 2020 Recently joined Capital Bank, bringing in a wealth of experience in the banking sector and in diverse aspects of operations. 9#10Stable and diverse shareholding base Core Shareholding Base Bank ownership diversified across several well-regarded business owners & families. Major Jordanian families/ shareholding groups hold a large share, with stable holdings over the years. Several of whom are also founders and early investors in Capital Bank. Diverse skill-set and business relationships that continuously add value to the Group. Active shareholder participation through Board representation, General Assembly meetings and regular direct communications. Summary Shareholding Composition Arab Foreign Jordanian 7.9% ■ Darwazeh 28.6% 63.5% Largest local family holdings ■ Al-Salem ■ Nuqul ☐ Kolaghassi Al-Husry ☐ Abu Jaber Shareholders Representation on the Board " ☐ Active Board of Directors, including stable shareholder representations over the years. Board members (including representatives and related parties) hold a 43.3% share. Concentration & Shareholding Mix ■ Largest 20 shareholders own over 75% of shares. Largest 30 shareholders own over 79% of share. Over 70% owned directly by individual investors. 10#11Healthy growth, continuously rewarding shareholders Performance shows improving profitability and returns to shareholders Net Operating Income Net Income All values in USD June 2020 solidifies this trend Robust core income and an effective COVID- 19 response, allowed for growth in net operating income and healthy profitability. 44.9 69.3 22.8 NOI +8.6% NI +21.3% 66.3 62.4 48.9 42.8 38.5 +20.0% 40.6 38.9 32.4 23.3 19.8 1.5 2015 2016 2017 2018 2019 H1 2019 H1 2020 ROE 0.32% 4.9% 8.0% 8.8% 8.4% 9.9% 9.4%* Dividend % 0% 5% 10% 10% 10%** NA NA Dividend Payout Ratio NA 81% 82% 65% 80%** NA NA EPS 0.035 0.087 0.172 0.217 0.178 0.104 0.080 11 *ROE figure covering YTD June 2020 performance excludes COVID-19 related provisions for the period. ** Dividends for 2019 announced, however postponed due to Central Bank of Jordan's instructions to all Banks following the onset of COVID-19.#12Strategic partnerships to support long-term growth ARAB TRADE FINANCING PROGRAM المؤسسة العربية لضمان الإستثمار وائتمان الصادرات ■ Financing facilities for eligible trade transactions Credit limit and insurance scheme for eligible trade finance transactions IFC OPIC ■ Credit line, technical assistance, access to global network of confirming banks for both Jordan and Iraq Guarantees a portion of loans granted to SMEs The Arab Investment & Export Credit Guarantee Corporation SFD الصندوق السعودي للتنمية Saudi Fund for Development ICIEC The leader in Islamic Investment Insurance and Export Credit ■ ☐ Credit limit to finance LCs, bills of exchange and commercial invoices afel AGENCE FRANÇAISE DÉVELOPPEMENT Credit facilities with relatively low interest rates to finance eco-friendly projects Sharia compliant export and investment insurance 5 European Bank for Reconstruction and Development JORDAN LOAN GUARANTEE CORP. Guarantees 70% of loans granted to SMES العربية للاستثمار س.م.ع. The Ar Arab Investment Company S الشركة S.A.A ■ ☐ Trade finance guarantees and revolving credit facilities for SMEs Credit line for trade finance activities 12#13Section 2 The Iraq Opportunity capital 13#14Internal Growth Drivers Selected Economic Indicators 642 Iraqi market presents a significant growth opportunity Growing Oil Production and Capacity Iraq's daily oil production capacity has grown by over 50% in the last 6 years, contributing to ~16% of total OPEC production up from an average of 10% previously. Despite periods of political instability and lower oil prices, this will remain a stable/ recurring income source for Iraq. Oil Production, Daily Avg (million barrels) +52% 4.4 4.6 4.4 4.8 4.6 3.0 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 ☐ Role of non-oil sector key to sustainability Oil related government revenue, especially with current oil prices is not nearly enough to sustain spending needs, which also remains concentrated on public sector salaries. Foreign currency reserves historically remain strong (covering ~13 months of imports), given continuous money flow from oil & gas. However reserves and funding from state-owned banks required to finance increasing deficits since 2019 adding significant pressure. Overall, there remains major challenges within the structure of the economy. Increased investment and more effective execution in non-oil sectors key to bringing the country back to its real potential. Sources: OPEC, World Bank, Central Bank of Iraq Significant room for GDP growth Fluctuating GDP, with political instability and economic weakness continuing to impact economic growth potential. However the government has taken concrete steps, and with the help of the international community to start making reforms and addressing the core issues. 5,955 USD 8,104 USD 33,672 USD Iraq GDP per Capita MENA Avg Oil-Producing GCC Avg Over 5x of current GDP must be achieved to reach oil-Producing regional averages. Indicating significant room for growth in the long-term. Significant infrastructure needs Iraqi government requires at least $100b in reconstruction & infrastructure projects, which will continue to drive growth and solidify the role of the private sector and foreign investor community. With gaps in critical defensive sectors such as healthcare, FMCG & education. Increased appetite from foreign markets Iraq is attracting increased amount of funding lines and financial support from DFI's, investors and governments. With increased appetite for US denominated government bonds. Ability to mitigate risk through international insurers such as MIGA, will further drive private sector investments. Large young population, tech driven Over 50% of Iraq's ~40m population falls in the working population age bracket. Demand and spending to continue to increase. Clear opportunity for digitization and technological innovation across sectors. Entrepreneurship hubs and accelerators are starting to develop, to cater for ambitious concepts coming to the market. Improving local expertise Initially limited involvement of local entities in the oil & gas/ EPC, as well as other strategic sectors. Recently however the trend is reversing with Iraqi companies gaining technical expertise leading to a new opportunity of subcontracting for large global players. 14#15Private banks to play an increasingly important role Current Sector Dynamics, Opportunity for well-established platforms Fragmented market with over 70 operating Banks, including 7 state owned, 45 private Iraqi (only 5 with regional investor) and 18 branches of foreign. Dominance of state-owned banks, holding over 80% of total assets, ~90% of deposits and ~80% of cash credit. Remaining share split within private sector. Historically, private banks highly dependent on revenue from Central Bank of Iraq currency auctions and FX transactions. With only a handful of banks with the right infrastructure, technology and resources to grow sustainably. Cash circulated outside banks significantly higher than a typical economy, with $45b in currently outside banks (~20% of GDP). Deposits and credit to GDP Ratios at 30% and 17% versus a MENA average of 67% and 60% consecutively as per latest data. Overall, very low banking penetration across individuals & businesses (GPFI WB 2017). Adults with Bank Accounts Acc holders with ¦ Adults who Adults with Credit Cards new deposits in the last 12 months borrowed in last 30% 25% 2% 12 months <3% SME's who have financed investment projects 2.7% Opportunity for banks that have invested in building a solid infrastructure and technology platform to differentiate themselves and gain market share very rapidly as the sector continues to develop. Significant upside for shareholders of well-positioned banks, as a majority of those listed on the Iraq Stock Exchange currently trading below par value. Sources: World Bank, GPFI, Central Bank of Iraq Why is this an attractive opportunity now? Several initiatives being implemented to promote financial inclusion and expand the role of private banks. $ Financial inclusion strategy underway, with salary transfers to government employees being gradually channeled to a selected group of private banks. Access to salary through telecom providers' points of sale, and digital improvements countering relatively low ATM footprint and allowing private banks to better position their service offering. Plans to establish a deposit-guarantee fund should help to overcome some of the population's fear to deposit cash at banks. Government starting to utilize conventional debt financing through banks, rather than indirectly monetizing via the Central Bank. International support to provide funding lines and partnerships with selected private banks, allowing companies to start utilization traditional trade finance products through local banks. Recent focus on microfinance and providing guarantees and credit lines for private banks to extend to SME's. Both by CBI & DFI's such as IFC. 15#16Section 3 Financial Performance Highlights Capital Bank, Consolidated Level capital 16#17Growing and diverse asset base, liquid inv. portfolio All values in USD millions Growing asset base with a strategic allocation across asset classes Well diversified and growing asset base. With gross credit growing at a CAGR of 6.7% between 2015 and June 2020 to reach $1.86b. The facilities composition reflects focus on Corporate/ SME clients, who together comprise ~70% of portfolio (50% Corporate, 20% SME), with remaining majority to retail clients and mortgages. Effective allocation, with return on funds having increased by 0.65% between 2018 and June 2020, and 0.91% from 2015 levels. Investment portfolio of $1b, with a majority in liquid gov. securities. Prudent provisioning & improving NPL ratio ☐ ☐ NPL's continue to improve, with a prudent collection policy across. Central Bank measures as well as internal controls and prudent lending strategy helped cushion the impact of COVID-19 related lockdowns. Provision coverage ratio (including collaterals against such loans) remains well above 100%. Watchlist remains constantly monitored with a similar provisioning approach, and collateral coverage requirements. Asset Breakdown +32% 3,660 9% 3,084 2,771 15% 9% Other Assets 8% 14% Loans Breakdown 8.6% 7.3% 117 105 6.3% 105 NPL Ratio NPL Balance 2018 2019 June 2020 Cash & Balances 16% 28% 27% Coverage Ratio, % Investments 30% 1.57 1.40 1.30 50% 48% Net Loans 45% 88% 61% 74% 2018 2019 June 2020 2018 2019 June 2020 Coverage (Incl. Collaterals) Provision Coverage 17#18Growing deposit base and healthy liquidity standing Growing and diverse liability base Diverse funding base, with growing stable funding from Customer Deposits and Margins (growing by 19% between 2018 and June 2020). Cost of funds has remained stable between 2018 and June 2020. With a consistently healthy NIM over the last period. Liquidity Coverage Ratio (LCR) stands at 142% as of June 2020, well above 100% regulatory minimum. Loan to deposit ratio at an average of 80%. Growing deposit base, with healthy growth in CASA balances ☐ All values in USD millions Stable non-current deposit base at ~65% of total deposits, with non interest-bearing deposits up from 19.8% in 2019 to 31.8% in June 2020. Total deposits grew by 20% between 2018 and June 2020, with CASA balances growing by 12% during the same period. Deposit composition comprises of Retail (55%), Institutional (36%) and Government (8%) as of June 2020. Liabilities Breakdown Deposit Breakdown Segment Breakdown +37% +20% 3,156 2,115 3% SME 5% 1,842 1,760 8% 11% 598 745 (35%) Gov. Current 667 2,594 (32%) Corporate 31% 3% & Savings (38%) 12% 2,296 11% Other liabilities 3%. Loans & Subordinated 9% 6% 1,370 1,244 Deposits 1,093 FI Deposits 3% 80% 74% & CDs (62%) (68%) (65%) Retail 55% 85% Customer Deposits & Margins 2018 2019 June 2020 2018 2019 June 2020 June 2020 18#19Healthy revenue generation and expense management Growing and healthy revenue base Total revenues continue to grow strongly, up by 10% between June 2019 and June 2020, with a CAGR of 7% between 2015 and 2019. Highest growth achieved in revenues from lending activities and markets (investments) in June 2020. With trade finance constituting the highest CAGR between 2015 to 2019, growing to ~50% of commission income. Revenue composition since 2015 constitutes an average of 75% coming from lending activities, with commissions at 18% and markets at 7%. Total Revenue All values in USD millions Operating Expenses remain under control, with prudent efficiency policies ☐ ☐ Operating expenses remain well managed and growing at a slower pace compared to revenue. This has resulted in an improving efficiency ratio since 2018, with focus on capitalizing on synergies across subsidiaries. Over the last 5 years, staff costs comprise 47% of expenses, depreciation at 10%, and rent & occupancy at 7%. Other operating expenses split across several categories, with no concentration. Operating Expenses Efficiency Ratio (Excl. Dep) Operating Expenses Loans Markets Revenue Commissions Investment Banking CAGR +3% CAGR +7% 219 52.8% 50.6% 197 1% 189 190 8% 46.3% 43.1% 44.3% 42.1% 170 17% +10.1% 37.9% 69.7 113 103 61.7 63.6 64.4 64.4 74% +2.0% 29.6 30.2 2015 2016 2017 2018 2019 June 2019 June 2020 2015 2016 2017 2018 2019 June 2019 June 2020 19#20Annex Financial Statements capital#21Income Statement, Capital Bank Consolidated All values in USD thousands 2015 2016 2017 2018 2019 CAGR June 2019 June 2020 Growth Interest Income/ Lending 141,487 135,170 134,527 147,807 161,814 3.4% 76,108 Commission Income/ Transaction 24,721 36,004 47,687 34,188 37,877 11.3% 20,199 Markets & Investment Banking 3,754 17,426 14,506 8,119 19,352 50.7% 6,371 Total Revenues 169,961 188,601 196,719 190,114 219,042 6.5% 102,677 86,380 17,468 -13.5% 9,159 113,008 13.5% 43.8% 10.1% Cost of Fund (63,382) (55,762) (66,050) (76,805) (86,939) 8.2% Gross Operating Income 106,580 132,839 130,669 113,309 132,103 5.5% (40,627) 62,050 (43,883) 8.0% 69,125 11.4% Operating Expenses, Staff (25,563) (29,599) (33,036) (32,466) (33,135) 6.7% (14,988) Operating Expenses, Other (36,110) (33,969) (31,362) (31,960) (36,574) 0.3% (14,661) (14,897) (15,340) 4.6% -0.6% Net Operating Income 44,906 69,272 66,271 48,883 62,394 8.6% 32,401 38,889 20.0% Provisions & Non-Recurring (29,310) (31,063) (22,008) 3,866 (10,026) (2,698) (14,060) Income Tax (14,089) (15,451) (5,742) (9,945) (11,724) (6,394) (5,045) Net Income 1,508 22,759 38,521 42,804 40,644 127.9% 23,309 19,784 -15.1% Net Interest Margin 3.9% 3.8% 3.4% 3.6% 3.6% 3.3% 3.5% Efficiency Ratio (Ex. Dep.) 52.8% 43.1% 44.3% 50.6% 46.3% 42.1% 37.9% ROE EPS Dividend Ratio/Payout Ratio Market Capitalization 0.32% 4.90% 8.00% 8.84% 8.42% 9.86% 9.38% 0.035 0.087 0% / NA 282,087 5% / 81% 234,133 0.172 10% / 82% 222,849 0.217 0.178 0.104 0.080 ** 10% / 65% 259,520 10%/80% NA NA 282,087 273,625 234,133 21 *ROE figure covering YTD June 2020 performance excludes COVID-19 related provisions for the period. ** Dividends for 2019 announced, however postponed due to Central Bank of Jordan's instructions to all Banks following the onset of COVID-19.#22Balance Sheet, Capital Bank Consolidated 2017 2018 2019 June 2020 All values in USD thousands CAGR (2017-19)| Growth June 2020 Cash & Balances 673,005 450,530 Direct Credit Facilities, net Investments Portfolio 1,298,960 677,406 1,256,642 838,563 428,574 1,539,994 546,614 1,759,722 -20.2% 27.5% 8.9% 14.3% 839,102 1,042,836 11.3% 24.3% Other Assets Total Assets Banks & FI Deposits 172,031 225,433 276,074 311,287 26.7% 12.8% 2,821,401 2,771,168 3,083,744 3,660,459 4.5% 18.7% 152,148 Customer Deposits & Margins 1,920,568 62,960 1,962,515 160,499 2,080,440 381,661 2.7% 137.8% 2,336,906 4.1% 12.3% Loans & Borrowings (Incl. Subordinated) 192,721 Other Liabilities 63,166 Total Liabilities 2,328,602 200,673 69,938 2,296,087 273,173 79,534 2,593,646 346,388 19.1% 26.8% 91,080 12.2% 14.5% 3,156,035 5.5% 21.7% Paid in capital 282,087 282,087 282,087 282,087 Additional Paid in Capital 1,001 1,001 1,001 1,001 Statutory Reserve & General Risk Reserve 61,396 54,426 58,112 58,112 -2.7% Retained Earnings 71,924 74,323 78,145 93,261 4.2% 19.3% Fair Value & FX Reserves/ Adjustments (5,170) (7,337) (5,058) (7,964) -1.1% 57.4% Equity attributed to Shareholders 411,238 404,500 414,287 426,498 0.4% 2.9% Total Shareholders Equity (Incl. Non-Controlling Interest) 492,799 475,081 490,097 504,424 -0.3% 2.9% Total Regulatory Capital Total RWAs Capital Adequacy % Primary Capital % 322,921 340,448 423,086 441,596 2,135,879 2,095,247 2,298,750 2,513,544 15.1% 16.2% 18.4% 17.6% 14.0% 15.4% 16.4% 15.6% 22 22#23Income Statement, National Bank of Iraq All values in USD thousands 2015 2016 2017 2018 2019 CAGR June 2019 June 2020 Growth Interest Income/ Lending 16,578 13,248 7,064 6,579 13,415 -5.2% 4,109 9,382 128% Commission Income/ Transaction 8,486 19,653 26,971 14,787 17,569 20.0% 9,030 9,628 7% Markets & Investment Banking 3,258 10,291 2,174 (4,501) 5,960 16.3% 3,322 6,434 94% Total Revenues 28,321 43,191 36,209 16,865 36,943 6.9% 16,460 25,444 55% Cost of Fund Gross Operating Income (6,054) (3,902) (5,499) (3,432) (4,946) -4.9% (1,878) (3,288) 75% 22,267 39,289 30,710 13,432 31,998 9.5% 14,582 22,156 52% Operating Expenses, Staff (4,745) (5,017) (5,716) (5,596) (5,832) 5.3% (2,789) (3,600) 29% Operating Expenses, Other (8,243) (8,478) (9,296) (11,090) (10,584) 6.4% (4,359) (5,397) 24% Net Operating Income 9,279 25,794 15,698 (3,253) 15,582 13.8% 7,434 13,159 77% Provisions & Non-Recurring (21,653) (8,727) (2,418) 16,801 (1,375) (154) (1,219) Income Tax (1,910) (3,412) (2,356) (1,982) (469) (886) (1,861) Net Income (14,284) 13,655 10,924 11,566 13,738 NA 6,394 10,079 58% Net Interest Margin 8.52% 8.84% 4.15% 4.99% 7.53% 4.52% 6.89% Efficiency Ratio (Ex. Dep.) 53.5% 29.1% 43.1% 110.6% 45.7% 42.7% 35.7% ROE -6.52% 6.59% 5.11% 5.57% 6.69% 6.34% 9.41% 23 23#24Balance Sheet, National Bank of Iraq 2017 2018 2019 June 2020 All values in USD thousands CAGR (2017-19)| Growth June 2020 Cash & Balances Direct Credit Facilities, net Investments Portfolio 319,924 317,734 298,623 377,163 -3.4% 26.3% 108,781 63,665 143,636 182,010 14.9% 26.7% 1,299 22,291 49,255 64,641 515.7% 31.2% Other Assets Total Assets 53,828 37,728 43,114 48,999 -10.5% 13.7% 483,832 441,417 534,628 672,814 5.1% 25.8% Banks & FI Deposits 0 Customer Deposits & Margins 242,439 788 198,157 7 32,946 NA 467933% 285,085 374,494 8.4% 31.4% Loans & Borrowings 2,562 4,370 14,322 23,796 136.4% 66.2% Other Liabilities 25,445 39,698 22,948 25,232 -5.0% 10.0% Total Liabilities 270,446 243,013 322,361 456,467 9.2% 41.6% Paid in capital 211,452 211,452 211,452 211,452 Statutory Reserve & General Risk Reserve 6,219 3,257 3,116 3,116 -29.2% Retained Earnings (4,606) (26,471) (14,894) (1,156) 79.8% -92.2% Current Period Profit 10,924 11,566 13,738 10,079 12.1% -26.6% Fair Value & FX Reserves/ Adjustments (10,604) (1,399) (1,146) (7,144) -67.1% 523.4% Equity attributed to Shareholders 213,385 198,405 212,266 216,347 -0.3% 1.9% Total Regulatory Capital Total RWAs Capital Adequacy % 95,728 145,313 192,829 209,626 471,035 482,406 615,000 625,296 20.3% 30.1% 31.4% 33.5% 24