First Quarter Group Results

Revenue Base: Non-Interest Income (NII) Diversification Net non-interest income grew by 27% YoY on the strength of remarkable growth in volume of transactions. N'million Q1 2023 Q1 2023 Credit related fees 4,712 Q1 2022 5,188 (9%) YOY Q1 2022 Credit related Account maintenance Account maintenance fees 10,191 9,270 10% Credit related Account maintenance fees 6.0% fees Other 13.0% Fees on electronic products Asset management fee fees 12,079 14,784 (18%) fees 8% 14.2% 2,099 2,061 2% operating Fees on Agency & collection services 2,894 2,286 27% income 6.0% electronic products Financial guarantee 2,227 2,385 (7%) Other operating income Fees on electronic -13.6% 15.4% Foreign withdrawal charges 4,380 2,593 69% products 22.7% FX Transaction fees 1,023 2,731 (63%) Trading Other fees & commissions 153 97 58% Trading Income 43.2% Asset management Total fees & commission Income 39,758 41,395 (4%) income 50.0% fee Asset management fee 2.7% Fees and commission (5,610) (7,909) (29%) 3.2% expense Other fees & Net fee & commission Agency & 34,148 33,486 2% Other fees & commissions 0.2% collection income commissions services Trading Income 33,891 32,598 4% 0.2% FX 3.7% Other operating income 4,713 (8,854) 153% Transaction fees 1.3% Foreign withdrawal charges 5.6% Financial guarantee Net non-interest income 72,752 57,230 27% FX Transaction fees 4.2% Agency & collection services 3.5% 2.8% Foreign Financial withdrawal guarantee charges 4.0% 3.7% © 2023 ZENITH BANK PLC | First Quarter Group Results Presentation to Investors & Analysts | Page 18

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