Investor Presentaiton

Operating Expenses 9M 2021 saw 9% growth in operating expenses YoY mainly from a rise in Government and other expenses Operating Expenses (SARmn) Operating Expenses Movement YoY (SARmn) مصرف الإنماء alinma bank +15% 618 537 524 543 521 266 198 203 1,542 16 231 197 59 61 63 61 64 280 229 279 263 288 +9% 125 1,681 (2) QoQ 3Q 20 -3% 4Q 20 +4% 1Q 21 -4% 2Q 21 +19% 3Q 21 9M 20 Salaries & employee-related Depreciation & amortization Other G&A Operating Expenses Salaries & employee-related +2% Depreciation & amortization -1% Other G&A Operating Expenses 9M 21 +23% Operating Expenses Composition Cost to Income Ratio (%) (SARmn) 40% ■■Salaries & employee-related 35% 40% Depreciation & amortization 1,681 49% 30% 11% 3Q 2021 INVESTOR PRESENTATION 37.9% 36.4% 33.8% 33.7% 32.6% Other & general admin 25% 9M 20 FY 20 1Q 21 1H 21 9M 21 Management Commentary ☐ Operating expenses increased 9% YoY to SAR 1,681mn for 9M 2021 mainly due to the increased rate of VAT in KSA from 5% to 15% from 1 July 2020 as well as higher communication expenses, POS terminal costs, software maintenance and subscriptions. ■ The cost to income ratio rose QoQ to 33.7% for 9M 2021 but is overall lower YoY from 37.9% in 9M 2020 despite this increase in operating expenses. 26/41

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