4Q 2021 Investor Presentation

Operating Expenses 2021 saw 14% growth in operating expenses YoY mainly from a 29% increase in G&A mostly from VAT Operating Expenses (SARmn) Operating Expenses Movement YoY (SARmn) مصرف الإنماء alinma bank +31% +14% 684 618 524 543 521 266 327 2,066 78 221 2,365 203 197 231 61 63 66 61 64 (0) 229 279 263 288 291 QoQ 4Q 20 +4% 1Q 21 -4% 2Q 21 +19% 3Q 21 +11% 4Q 21 Operating Expenses FY 20 Salaries & employee-related Depreciation & amortization Other G&A Salaries & employee-related +8% Depreciation & amortization Other G&A Operating Expenses FY 21 -0% +29% Operating Expenses Composition Cost to Income Ratio (%) 45% (SARmn) ■Salaries & employee-related 40% 36.4% 47% 35% 42% ■Depreciation & amortization 2,365 30% Other G&A 11% 4Q 2021 INVESTOR PRESENTATION 35.5% 25% FY 20 1Q 21 1H 21 9M 21 FY 21 Management Commentary ☐ Operating expenses increased 14% YoY to SAR 2,365mn for 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. Despite this increase in operating expenses, higher income growth resulted in an 90bps YoY improvement in the cost to income ratio to 35.5%. 30/48

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