Investor Presentaiton

Operating Environment Operating Costs and Efficiency Highlights • • Costs increased by 21% q-o-q, as per previous guidance, and costs increased 8% in 2015 as staff costs increased in line with rising business volumes Cost to Income Ratio rose modestly by 0.6% to 31.0% from 30.4% in 2014 Adjusted for one-offs, the 2015 Cost to Income Ratio was 32.7% Cost to Income Ratio (%) 33.1 30.4 28.1 29.6 Appendix Strategy Financial & Operating Performance Emirates NBD Profile Emirates NBD 17 33.3 31.2 31.3 30.1 31.0 Q4 14 Q1 15 ▪▪▪▪▪▪Target Q2 15 CI Ratio (YTD) Q3 15 Q4 15 CI Ratio Cost Composition (AED Mn) +15% 1,357 1,177 1,079 1,157 1,126 112 +21% 83 83 91 88 809 677 670 717 712 78 81 85 94 -77 94 229 86 84 88 111 163 188 157 240 Q4 14 Q1 15 Q2 15 Q3 15 Q4 15 Egypt Staff Cost Occupancy Cost Depr & Amort Other Cost

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