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Investor Presentaiton

Appendix Strategy Financial & Operating Performance Emirates NBD Profile Operating Environment Emirates NBD 5 Dubai Economic Update (2/3) Highlights Passenger traffic at the Dubai International Airport rose to 78 million in 2015, up by 10.7% y/y, retaining its position as the world's biggest international hub. Passenger traffic is expected to exceed 103.5 million by 2020, according to Dubai Airports. Dubai's hotel occupancy averaged 77% in 2015. The supply of hotel rooms in Dubai increased by 6.7% y/y in 2015 to 79,002 rooms with the Department of Tourism and Commerce Marketing (DTCM) targeting 140,000 to 160,000 hotel rooms by the end of the decade. Hotel occupancy and RevPAR Dubai Airports passenger traffic % y/y 20 16 12 8 4 0 Jan-11 Sep-11 May-12 Jan-13 Sep-13 May-14 Jan-15 Sep-15 Source: Dubai Airports, Emirates NBD Research Composition of Dubai GDP 100 80 60 40 20 0 -20 -40 بلسان Dubai GDP by Sector (%) - 2014 80 60 12 2 2 2 2 。 2 40 20 0 100 Other Hosp. 5% 5% Financial servcs. 11% Manuf. 14% -20 RevPAR (% y/y) Occupancy Rate (%) -40 Dec-12 Dec-13 Dec-14 Dec-15 Dec-10 Dec-11 Source: STR Global, Emirates NBD Research Transport, comm. 15% Source: Dubai Statistics Centre Trade 29% Constr. & RE 21%
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