UAE Economic Update

Operating Costs and Efficiency Emirates NBD Highlights Q1 2013 Costs improved by 4% y-o-y due to cost optimisation initiatives Costs improved by 5% q-o-q to AED 909 million in Q1 2013 resulting from: - One off Dubai Bank Integration cost in Q4 2012 – AED 48 million Lower legal & professional cost – AED 10 million Lower depreciation due to retirement of assets in Q4 2012- AED 8 million - Decrease in other costs - AED 18 million Offset by Cost to Income Ratio (%) 35.9 35.4 35.3 35.1 35.2 34.6 Q4 11 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 CI Ratio (YTD) Cost Composition (AED million) -4% Increased salary cost due to increments & associated increase 942 958 909 894 875 79 79 8- -5% 76 69- in terminal benefits - AED 35 million 565 534 579 523 502 49 70 61 60 58 68 66 71, 55 75 179 166 178 216 192 The cost to income ratio will be managed to the longer term revised target range of c.34%-35% Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Dubai Bank Occupancy cost Other Cost Staff Cost Depreciation 19

View entire presentation