Investor Presentaiton

Continuous Efforts Towards Cost Optimisation. Total operating expense grew by 13% YoY due to inflationary pressures, exchange rate movement and heightened regulatory costs. Total Operating Expenses N'million 2021 2020 YOY 2021 2020 NDIC Security & cash Personnel expenses 79,885 79,520 0% Fuel & handling 1.6% Depreciation & Depreciation & Premium armortisation 5.6% 29,084 28,662 1% maintenance Outsourcing armortisation 11.2% Personnel 7.1% Travel & services 5.1% NDIC Premium 17,273 Advertisement hotel & promotions AMCON premium Training & development 37,920 14,405 20% 30,948 23% expenses 31.0% 1,588 0.9% 4.1% Information technology Other Advertisement & Information expenses 11,798 11,835 0% 1,191 33% 28,716 20,440 40% Other expenses 13.3% technology promotions 14.2% 9.9% Fuel & maintenance 20,618 17,778 16% Outsourcing Security & cash handling Travel & hotel 4,766 3,980 20% 2,628 1,883 40% services 4.5% Training & development 0.5% Personnel AMCON premium 12.1% Training & development 0.5% Information technology Outsourcing services 14,773 11,500 expenses 27.4% Other expenses Total 40,484 289,533 28% 33,890 19% 256,032 13% AMCON premium 13.1% NDIC armortisation 10.0% Premium 6.0% Depreciation & Travel & hotel 0.7% Security & cash handling 1.6% 8.0% Advertisement & promotions 4.6% Fuel & maintenance 6.9% © 2021 ZENITH BANK PLC | Full Year Group Results Presentation to Investors & Analysts | Page 21

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