Investor Presentaiton

Appendix Strategy Financial & Operating Performance Emirates NBD Profile Operating Environment Operating Costs and Efficiency Highlights Costs declined 3% q-o-q Costs increased 5% y-o-y in Q3-15 due to higher staff costs linked with rising business volumes Cost to Income Ratio rose marginally by 0.1% q-o-q to 31.3% Adjusted for one-offs, the year-to-date Cost to Income Ratio was 31.7% • The longer term management target for cost to income ratio is 33% which provides headroom for future investment 27.9 Cost to Income Ratio (%) 33.1 Emirates NBD 31.2 31.3 29.5 30.4 30.1 28.1 29.6 Q3 14 Q4 14 Target Q1 15 CI Ratio (YTD) Q2 15 Q3 15 CI Ratio Cost Composition (AED Mn) +5% 1,177 1,075 1,079 1,157 1,126 83- 91 86; =83 88; -3% 677 656 670 717 712 94 75 86 94 78 77 80 86 84 87 172 229 163 188 159 Q3 14 Q4 14 Q1 15 Q2 15 Q3 15 Egypt Staff Cost Occupancy Cost Depr & Amort Other Cost 19

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