Q2-18 Financial Results Highlights

Emirates NBD 4 Dubai Economic Update (1/3) Highlights The headline Dubai Economy Tracker Index (DET) declined to 54.9 in July from 56.0 in June, signalling the slowest growth in Dubai's private sector in three months Dubai's real GDP expanded 2.8% in 2017 to reach AED 389.4bn, in line with our forecast of AED 389.9bn. The biggest growing sector is Hospitality 8% y-o-y, followed by Real Estate and Transportation by 7.3% and 4.5% respectively Composition of Dubai GDP in FY-17 Others 23% Trade 27% Hosp 5% Transport & Storage 12% Constr. & RE 13% Manuf. 9% Financial services 10% Appendix Strategy Financial & Operating Performance Emirates NBD Profile Operating Environment 62 60 58 56 54 52 50 48 Emirates NBD Dubai Economy Tracker Index Source: Dubai Statistics Centre Dubai: Key sector growth rates in FY-17 Jan-15 Jun-15 Nov-15 Source Markit, Emirates NBD Research Apr-16 Sep-16 Feb-17 Jul-17 Dec-17 May-18 10 8 6 4 2 0 8.0 7.3 llu.... 4.5 3.5 3.0 2.0 0.9 Manufacturing Hospitality Real estate Transport & storage Source: Dubai Statistics Centre Construction Public defence Trade

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