Investor Presentaiton

Operating Expenses Profile / Strategy / Sustainability / Environment / Financials / Appendix Retaining cost efficiency despite ongoing investments in infrastructure, digital capabilities, and strategic initiatives. Operating expenses before impairments increased by 13% to SAR 3,695 million during 9M 2023 from higher employee-related costs as well as depreciation and other costs. Quarterly operating expenses before impairments increased by 11% YoY in 3Q 2023 and by 5% in comparison to 2Q 2023. Cost efficiency improved YoY with cost to income ratio standing at 30.9% for 9M 2023. Cost to average earning assets ratio increased by 8bps to 1.44% during 9M 2023. Expenses before Impairments Movement YoY (SARmn) 228 3 3,272 +13% 88 3,695 103 Expenses before Impairments Composition, 9M-23 (%) Expenses before Impairments (SARmn) +11% 9M-22 +14% Employee-related +2% Premises +26% Depreciation +8% G&A & others 9M-23 Cost to Income Ratio (%) Cost to AIEA Ratio* (%) ■Employee- 33.2% 30% related 1,174 1,138 1,162 1,234 1,299 32.4% Premises 52% 1.44% 1.41% 1.40% 30.9% 30.0% 1.36% 1.37% 28.8% Depreciation G&A & others 14% 4% QoQ -3% +2% +6% +5% 3Q-22 4Q-22 1Q-23 2Q-23 3Q-23 9M 22 FY 22 1Q 23 1H 23 9M 23 9M22 FY 22 1Q 23 1H 23 9M 23 Riyad Bank - Investor Presentation - 30/09/23 *Cost To Average Interest Earning Assets Ratio General Business 38

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