Investor Presentaiton

Rating Excerpts 667 The standalone baseline credit assessment (BCA) of a3, reflects the bank's (1) dominant position in its domestic market, underpinning its resilient core profitability and growth prospects; and (2) robust financial fundamentals including consistently good asset quality metrics, as well as strong capitalisation and liquidity." MOODY'S Moody's-08 September 2015 view NBK's business position as "strong," reflecting the bank's leading position in Kuwait, good and stable performance through the full economic cycle, and good management..... The stable outlook reflects Standard & Poor's Ratings Services' expectation that NBK's asset quality will remain stable, its market share strong, and its funding and liquidity in line with that of peers over the next two years." STANDARD & POOR'S Standard & Poor's - 07 July 2015 66 NBK's company profile has a high influence on its VR. This reflects the bank's dominant market share in Kuwait and historical flagship status. NBK enjoys strong links to the state and has a significantly more diverse business model than peers. "I Fitch Ratings الوطني NBK Fitch Ratings - 16 February 2015 LO 5

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